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Today in the Fortune 500: GE to buy Converteam, BP employees could face manslaughter charges and eBay encroaches on Amazon's online turf

March 29, 2011: 11:17 AM ET
Image representing eBay as depicted in CrunchBase

Image via CrunchBase

GENERAL ELECTRIC'S ENERGY UNIT EXPANDS with the coming $3.2 billion purchase of power conversion company Converteam. The deal, which is expected to close in the third quarter of 2011, should help GE Energy manufacture more efficient, eco-friendly products. According to GE (GE), the $30 billion energy efficient equipment manufacturing market is growing faster than the global economy. [New York Times]

BP EMPLOYEES MAY FACE MANSLAUGHTER CHARGES Federal prosecutors are reviewing evidence from investigations into the BP (BP) oil spill to determine whether BP managers can be charged in connection to the deaths of the 11 workers killed in the Deepwater Horizon rig explosion. [Bloomberg Businessweek]

TAKING ON AMAZON EBay is planning to spend $2.4 billion on a company that could encroach on some of Amazon's (AMZN) online retail turf. The company, called GSI Commerce, Inc., helps retailers with their websites. Buying it would give eBay access to order fulfillment and shipping for brands that GSI works with including Timberland, Mattel and Major League Baseball. [Wall Street Journal]

MUSIC IN THE CLOUD Amazon just rolled out a new cloud-based music player that will let users download up to 1,200 tracks and play them on several devices. The service is aptly called Cloud Player, and it marks the first time a big technology company has offered something like it. [BBC]

OPEN A NEW WINDOW Microsoft (MSFT) has been struggling to provide fresh, consumer-facing products and services. CEO Steve Ballmer's devotion to Windows may be part of the problem. [Fortune]

BACK IN THE MORTGAGE GAME Big banks sent a new list of mortgage-servicing standards they would uphold to government officials on Monday. Government officials will meet Wednesday to hash out the terms with representatives from Bank of America (BAC), JP Morgan (JPM), Wells Fargo (WFC), Citigroup (C) and Ally Financial's GMAC unit. [Wall Street Journal]

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