July 31, 2009

General Electric Co. rose the most in three months after U.S. Representative Barney Frank said manufacturers that already own finance businesses should be allowed to keep the units under revised banking rules.GE increased 85 cents, or 6.9 percent, to $13.11 at 4:15 p.m. in New York Stock Exchange composite trading. The gain was the biggest since April 13.

GE, Harley-Davidson Inc. and companies that already have finance arms or industrial-loan businesses known as ILCs should be able to retain them without being subject to Federal Reserve oversight of their manufacturing operations, Frank said in an interview with Bloomberg News yesterday. Frank, a Massachusetts Democrat, heads the U.S. House Financial Services Committee.