GE profit tumbles

General Electric Co reported a 42 per cent drop in profit, as a
global economic slump hammered its hefty finance arm and eroded
demand for the heavy equipment it manufactures.    The largest U.S.
conglomerate, whose shares were down 0.8 per cent in premarket
trading, reported third-quarter profit of $2.49 billion, or 23 cents
per share, compared with earnings of $4.31 billion, or 43 cents per
share, a year earlier. Revenue fell 20 per cent to $37.8 billion.
Chief Executive Jeff Immelt said the economy ' is beginning to slowly
recover.'    The world's largest maker of jet engines and
electricity-producing turbines has faced falling demand for its big
capital equipment. But so far this year it has counted on revenue for
maintaining products it has already sold to boost results.