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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: GE boss Immelt: Worst is over in crisis AFP - Friday, May 29 TOKYO (AFP) - - General Electric Co. chief executive Jeff Immelt said Thursday he believed the global recession had hit bottom but said tougher business regulations would follow in its wake. ADVERTISEMENT He said many governments around the world had taken swift action to counter the severe economic downturn and pointed to vastly greater liquidity and access to capital that resulted. "The capital market today has improved dramatically," Immelt told the American Chamber of Commerce in Japan. "I do think that the big crisis that we felt, the worst is over." But Immelt reminded fellow business representatives that global competition would be tougher after the crisis as governments tightened regulations, including environmental standards. The financial services sector would go through dramatic restructuring due to new regulations and government involvement in business affairs, he said. "There is going to be more regulations," he said. "There is going to be very tight association between business and government. "During the crisis, the governments moved in next door and they are not going to leave," he said. Businesses must be mindful of exploring new environmental businesses and prepare to eventually pay for carbon emissions, said Immelt, head of the worlds biggest maker of power-generation equipment. A member of President Barack Obama's Economic Recovery Advisory Board, Immelt said the US leader would face tough tests ahead, such as tackling dwindling jobs and facing the health care policy debate. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business POSCO agrees iron ore price cut with Rio TintoAFP - Thursday, May 28 CORRECTED - CORRECTED-TREASURIES-Longer-dated bonds inch up in Asia, auctionReuters - Thursday, May 28 Wal-Mart says to launch India store on SaturdayReuters - Thursday, May 28 India Hot Stocks: Indage Vinters up on BSE block dealReuters - Thursday, May 28 Japan Hot Stocks-Taiheiyo Kaiun, Inpex, Aderans, smelters, JVCReuters - Thursday, May 28 Enlarge Photo GE boss Immelt: Worst is over in crisis Related Photos Slideshow Full Photo Coverage: Business & Economy Most Popular – Business Viewed Canada's governor eats raw seal heart NZealand zookeeper killed by white tiger: police Climate change: World's destiny at stake Medvedev scolds officials for gloomy forecasts Vitamin D boosts brain power in middle-aged men View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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