Without Export-Import Bank reauthorization, GE may move 500 jobs overseas

General Electric Co. may move up to 500 American jobs overseas because Congress did not renew a government program that allows foreign companies to borrow money to buy U.S. products. Authorization for the U.S. Export Import Bank was not approved by Congress, causing it to stop lending on July 1. Foreign companies use the agency to buy expensive U.S. products when bank loans are not possible.