General Electric is targeting an IPO of its North American Retail Finance division into a partially-separated business by the end of July. The company, to be called Synchrony Financial, is expected to generate $3.1 billion at its mid-point. A complete separation is targeted for late 2015. Until then, GE will retain around $17 billion of the business’ total worth. This marks the company’s first step in slimming down GE Capital, decreasing the size of its non-core portfolio. Through repositioning efforts, GE is on track to meet its goal of $1 billion in structural cost-cutting over 2014. In the first half, cost-cut totaled $382 million.

undefined

More from Video

Jim Cramer Has 2 Tips for the Graduating Class of 2018

Jim Cramer Has 2 Tips for the Graduating Class of 2018

Video: Why the Stock Market Is Discounting China Trade Fears for Now

Video: Why the Stock Market Is Discounting China Trade Fears for Now

Did Warren Buffett Make a Bad Mistake by Not Buying General Electric?

Did Warren Buffett Make a Bad Mistake by Not Buying General Electric?

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019