Business and Finance
IBM DOCUMENTS SHOW the company expects to save $168 million annually beginning in 2006 by moving several thousand high-paying programming jobs overseas. A programmer in China would cost about $12.50 an hour versus $56 for a comparable U.S. employee. Cost-cutting pressures are driving the outsourcing trend, which critics link to the jobless recovery at home.</br></br>---</br></br>GE's fourth-quarter net rose 47% to $4.56 billion, bolstered by rising industrial orders. The conglomerate retained its 2004 earnings- growth outlook at 3%.</br></br>---</br></br>Lord Black agreed to sell his control of Hollinger International to Britain's Press Holdings in a deal valued at $326.3 million.