BOSTON (Reuters) – The United States might be better off allowing the across-the-board spending cuts of the so-called sequester to take effect as a first step in cutting its debt, even if the move slows the economy, Honeywell International Inc (HON.N: Quote, Profile, Research, Stock Buzz) Chief Executive Dave Cote said on Wednesday.

“We need the reduction,” said Cote, whose company sells systems to the U.S. Department of Defense and would feel a direct hit from the $85 billion in cuts that could take effect on March 1. “You could argue that the reduction would make more sense if we did it thoughtfully and spent a lot of time on it. I’m not sure that’s a real option, though. The options seem to be let it happen or take it away.”

By Scott Malone

(Reuters) – Diversified U.S. manufacturer Emerson Electric Co (EMR.N: Quote, Profile, Research, Stock Buzz) met Wall Street profit forecasts for the first quarter and said it sees signs that demand for its industrial products may be picking up.

The maker of products including industrial controls, uninterruptible power supplies and home-storage equipment said on Tuesday that sales rose 4.6 percent, more than twice what analysts had expected.

BOSTON (Reuters) – A Massachusetts state representative said he will announce on Tuesday whether he will become the first Republican to enter the race to fill the Senate seat opened by John Kerry’s appointment as secretary of state.

Dan Winslow, who represents a district including the town of Norfolk, located about 30 miles southwest of Boston, will make a statement on his plans for the June 25 special election, he said on his Website.

BOSTON (Reuters) – Tagg Romney, the son of former presidential candidate and former Massachusetts Governor Mitt Romney, is the latest Republican to rule out running for an open Senate seat in Massachusetts, the Boston Herald newspaper reported on Monday.

While two prominent Democrats have started their campaigns ahead of the June 25 special election to fill the seat, the state’s Republican Party has had a harder time finding a major candidate, which could give the party a chance to add to their 45 senators in the 100-seat chamber, where the Democrats hold the majority.

BOSTON (Reuters) – Republican former Massachusetts Governor William Weld said on Monday he would not seek the U.S. Senate seat made vacant by John Kerry’s appointment as secretary of state.

While two prominent Democrats have started their campaigns ahead of the June 25 special election to fill the seat, the state’s Republican Party has had a harder time finding a major candidate, which could give the party a chance to add to their 45 senators in the 100-seat chamber, where the Democrats hold the majority.

BOSTON (Reuters) – Former Republican Senator Scott Brown said on Friday he will not run in a June election to fill the Massachusetts U.S. Senate seat vacated by John Kerry, a move likely to dim Republican chances of picking up the traditionally Democratic-held seat.

Brown, who stunned the liberal establishment of Massachusetts with a win in another special election in 2010, lost his re-election bid last year.

BOSTON (Reuters) – Representative Stephen Lynch, a Massachusetts Democrat who has represented Boston and its surrounding since 2001, on Thursday formally launched a bid for the U.S. Senate, seeking the seat being vacated by John Kerry following his confirmation as the new U.S. secretary of state.

Lynch, a former ironworker, will face off against fellow House of Representatives member Edward Markey in an April 30 primary, ahead of a June 25 special election to choose a permanent successor to Kerry.

By Scott Malone

(Reuters) – United Parcel Service Inc reported a fourth-quarter net loss after taking a large pension-related charge and forecast weaker-than-expected 2013 profit due to an uneven global economy.

UPS (UPS.N: Quote, Profile, Research, Stock Buzz) on Thursday followed a stream of other big U.S. companies such as Rockwell Automation Inc (ROK.N: Quote, Profile, Research, Stock Buzz) and Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz) that were also weighed down by pension-related charges. A prolonged period of low interest rates is driving up companies’ pension costs.

BOSTON (Reuters) – Massachusetts Governor Deval Patrick on Wednesday named his former chief of staff, William Cowan, to temporarily fill the U.S. Senate seat that John Kerry will vacate this week, the governor’s office said in a statement.

A Democrat, Cowan would be the second African-American in the current Senate and would serve until a June 25 election in which Kerry’s permanent replacement is selected. The governor scheduled a formal announcement at 11 a.m. ET (1600 GMT).

By Scott Malone

(Reuters) – Rockwell Automation Inc (ROK.N: Quote, Profile, Research, Stock Buzz) reported a steeper-than-expected 12 percent drop in quarterly profit on weak demand, particularly in China, for its systems that help factories run more smoothly.

The U.S. manufacturer said on Wednesday that its sales had fallen 9 percent in Asia, excluding the effects of exchange-rate fluctuations, as some industrial customers decided to delay new investments in equipment.