GE to spin off health unit

General Electric plans to spin off its health care unit and separate oil company Baker Hughes, the struggling firm said. It’s part of larger streamlining efforts from CEO John Flannery that will see GE unload four of its eight divisions, according to The Wall Street Journal. Earlier this week, the company announced the sale of its distributed power business to Advent International for $3.25 billion, and last week GE was removed from the Dow after more than a century.