General Electric to Stop Building New Coal Plant Equipment as Renewables Take Focus

General Electric (NYSE: GE) announced on Monday that it would exit the "new build coal power market," in yet another blow to the troubled coal industry. The U.S. coal industry has been in decline for years, according to data from the U.S. Energy Information Agency (EIA). "With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory," he said.