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>> SPENDING CUTS Latest News

OCT 22, 2013 - San Francisco Chronicle

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United Tech 3Q profit up 1 pct, trims sales view

(AP) — United Technologies Corp.'s third-quarter profit rose just 1 percent, and the aerospace and building systems conglomerate warned Tuesday that weak military aerospace sales are expected to cut into revenue this year. Chief Financial Officer Greg Hayes last month also warned that the automatic federal budget cuts that took effect in March threaten to take a bigger bite out of profit in 2014 than United Technologies initially expected. Revenue fell at UTC Climate, Controls and Security, which sells heating and ventilating equipment; jet engine maker Pratt & Whitney; and ... Read More

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