Correspondent, U.S. health team leader
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Sep 10, 2014

U.S. Navy, Marines need more women: Navy secretary

WASHINGTON (Reuters) – U.S. Navy Secretary Ray Mabus said more women should be serving in the Navy and Marine Corps, and plans to take action to boost their presence in those military branches.

“We don’t have enough women in either the Navy or the Marine Corps,” Mabus told the Reuters Aerospace and Defense Summit on Wednesday as he kicked off a drive to expand the number of women in the Navy.

Sep 7, 2014

GE oil business seeks to outpace market, improve margins

NEW YORK (Reuters) – General Electric Co’s fast-growing oil and gas business that supplies equipment and services is improving profit margins and is well-placed to outpace industry growth over the next several years, a top unit executive said in an interview.

Spurred by $14 billion in acquisitions since 2007, the oil division’s revenue has risen 75 percent to $17 billion since 2009, making it the U.S. conglomerate’s fastest-growing industrial business in that period.

Sep 2, 2014

Jet-engine maker Pratt & Whitney accuses titanium supplier of fraud

By Lewis Krauskopf

(Reuters) – United Technologies Corp unit Pratt & Whitney has sued a titanium supplier for fraud, after questions over the material led Pratt to briefly suspend delivery of its engine for the F-35 Joint Strike Fighter.

Pratt said that A&P Alloys Inc, in West Bridgewater, Massachusetts, “intentionally submitted certifications falsely representing the pedigree and quality of its material,” according to court documents filed in U.S. District Court in Massachusetts on Friday.

Aug 29, 2014

Pratt halted F-35 engine shipments in May over titanium

Aug 29 (Reuters) – United Technologies Corp’s Pratt
& Whitney unit briefly suspended delivery of the engine for the
F-35 Joint Strike Fighter jet in May because of questions about
titanium provided to a parts supplier.

Pratt said on Friday it discovered conflicting documentation
in late May that raised questions about the origin of the
titanium, which was also used in parts for engines made by its
Pratt & Whitney Canada division. The Lockheed Martin Corp
F-35 strike fighter is the Pentagon’s costliest weapons
program.

Aug 29, 2014

Pratt suspended F-35 engine shipments in May over titanium

Aug 29 (Reuters) – United Technologies Corp’s Pratt
& Whitney unit briefly suspended delivery of the engine for the
F-35 Joint Strike Fighter jet in May because of questions about
titanium provided to a parts supplier.

Pratt said on Friday it discovered conflicting documentation
in late May that raised questions about the origin of the
titanium, which was also used in parts for engines made by its
Pratt & Whitney Canada division. The Lockheed Martin Corp
F-35 strike fighter is the Pentagon’s costliest weapons
program.

Aug 25, 2014

Honeywell lockout of union at Illinois uranium plant nearing one month

Aug 25 (Reuters) – A lockout of about 135 union employees at
a Honeywell International Inc uranium conversion plant
in Illinois is poised to extend past a month as the two sides
remain apart on several issues.

Production and maintenance employees at the Metropolis,
Illinois, plant who are members of United Steelworkers Local
7-669 have been locked out since the start of August, after a
three-year contract expired. Talks are not expected to resume
this week while the company reviews the union’s latest proposal,
said union spokesman John Paul Smith.

Aug 20, 2014

U.S. architecture billings index hits highest level since 2007

By Lewis Krauskopf

(Reuters) – The Architecture Billings Index, considered a leading indicator of U.S. non-residential construction, rose in July to a seven-year high, the American Institute of Architects said on Wednesday.

The ABI rose to 55.8 in July, from 53.5 in June, reflecting an increase in design activity.

Aug 5, 2014

Emerson tempers outlook as Q3 results miss estimate

Aug 5 (Reuters) – Emerson Electric Co posted
lower-than-expected quarterly profit and sales on Tuesday,
pointing to “persisting economic challenges,” and said its
full-year results would come in at the low end of its
projections.

Shares of the U.S. automation and power supply systems maker
slipped 1.4 percent to $63.07 in morning trade on the New York
Stock Exchange.

Aug 1, 2014

Corporate reports signal stronger US commercial building recovery

By Lewis Krauskopf

(Reuters) – Rising orders and increasing optimism from companies like United Technologies Corp (UTX.N: Quote, Profile, Research, Stock Buzz) and Tyco International (TYC.N: Quote, Profile, Research, Stock Buzz) point to a strengthening recovery in the U.S. commercial construction market, which has been limping back since bottoming more than three years ago.

The anecdotal evidence, buttressed by a strengthening index of architectural billings that is considered a leading indicator of commercial construction spending, bodes well for a variety of manufacturers whose fortunes are linked to construction spending for everything from hotels and offices to hospitals and schools, which remain far off their peaks from about six years ago.

Jul 29, 2014

Eaton tempers profit view, dents hopes for vehicle spin-off

July 29 (Reuters) – Eaton Corp tempered its
full-year profit forecast on Tuesday due to weaker margins in
its electrical systems business and dented some Wall Street
hopes for a near-term spin-off of its vehicle business, sending
its shares down 6 percent.

The U.S. manufacturer of power products and systems also
said bookings fell 2 percent for its hydraulics segment, while
second-quarter profit missed analysts’ target.

    • About Lewis

      "I help coordinate coverage of healthcare companies for Reuters in the United States. I also cover health insurers, pharmacy benefit managers, generic drugmakers and pharmaceutical companies."
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