General Electric will freeze pension plans to cut massive debt

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Here are the latest business headlines from Cheddar

Disney+ is live in the Netherlands. The company is soft-launching the streaming service to iron out problems and kinks. The test indicates the importance of Disney+, which enters a crowded streaming market dominated by Netflix.

General Electric will freeze the pension plans of 20,000 U.S. salaried employees in an attempt to cut its massive debt load. The move will reduce its pension deficit to $8 billion. Retirees already collecting pension benefits won't see any change.

According to CNBC, Ireland is set to decide whether Facebook and Twitter violated European Union data privacy rules. A potential ruling will represent Ireland's first decision related to U.S. companies since privacy laws went into effect. If found guilty, companies can be fined up to 4% of global revenues.

 

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