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Topic - United Technologies Corp.
United Technologies Corporation (UTC) is an American multinational conglomerate based in Hartford, Connecticut. It researches, develops, and manufactures high-technology products in numerous areas, including aircraft engines, helicopters, heating and cooling, fuel cells, elevators and escalators, fire and security, building systems, and industrial products, among others. UTC is also a large military contractor, producing missile systems and military helicopters, most notably the UH-60 Black Hawk helicopter. In 2005, it received over $5 billion in military contracts. Louis R. Chênevert is the current CEO. The "Gold Building" at One Financial Plaza, in Downtown Hartford, is the headquarters of United Technologies. - Source: Wikipedia
A federal court has found United Technologies Corp. liable for more than $473 million in damages and penalties arising out of a contract to provide the Air Force with engines for F-15 and F-16 fighter aircraft from 1985 to 1990, the Justice Department said Thursday.
As lawmakers take up austerity measures and the Defense Department and other agencies grapple with difficult budget choices, some contracting companies that derive their income entirely from the federal government have grown increasingly fat.
Stock markets around the world suffered through one of the worst days of trading in months Tuesday, as a number of U.S. companies reported weak earnings because of a slowdown in the global economy and as concerns mounted over Spain's role in the European financial crisis.
Sikorsky Aircraft Corp., citing declining military budgets and a tough economy, said it will close its plant in upstate New York and eliminate all 570 jobs.
As China ratchets up military tensions with almost all of its neighbors in the Western Pacific, the United States is hosting its largest multinational maritime exercise and has excluded China from joining the maneuvers near Hawaii called Rim of the Pacific.
Apple CEO Tim Cook knows this much: The world's most valuable company has more money than it needs. But he and the rest of Apple's board are still trying to figure out whether it makes sense to dip into the nearly $100 billion cash hoard to pay shareholders a dividend this year.