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Industrial giant United Technologies slashed its 2015 earnings forecast Tuesday due to the sharp slowdown in China’s real estate sector and disappointing aviation parts sales. Key areas of weakness included the Otis elevator business, which suffered from anemic demand in China and Europe, and weaker-than-expected plane parts orders. Activity has also been lackluster in UTC’s business for heating and cooling buildings, again due to a big decline in China.
[at Financial Times] – The fifth line of the Canadian national anthem reads, “The True North strong and free”. Right now, it might be more appropriate for Canadians to sing, “The True North weak and subordinate”. …
NEW YORK (Reuters) – Warren Buffett said on Tuesday that media reports that he and Italian real estate agent Alessandro Proto together purchased the island of St. Thomas, southwest of Athens, are “a total fabrication.”
WASHINGTON (AP) — Amgen on Tuesday received European approval for its first-of-a-kind cholesterol drug that lowers levels of the artery-clogging substance more than older drugs that have been prescribed for decades.
Weak results from IBM, United Technologies and other companies pulled stocks lower in midday trading Tuesday. Telecommunications stocks were among the biggest decliners.
