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* General Electric Co. said it will cut about 1,200 jobs in a restructuring of its GE Power Systems subsidiary, which makes turbines and other power plant equipment. The cuts, which amount to 5% of the unit’s work force, are expected to take place early next year.
* Texas Utilities Co. boosted its offer for Britain’s Energy Group to $10.4 billion in cash and assumed debt and bought almost 14% of Energy Group stock, pulling ahead of PacifiCorp in a struggle for control. Portland, Ore.-based PacifiCorp, which boosted its stake in Energy Group to 8.8% on Monday, would not comment on whether it would raise its bid.
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