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.

By Scott Malone

(Reuters) – Harley-Davidson Inc (HOG.N: Quote, Profile, Research, Stock Buzz) on Tuesday reported fourth-quarter net income slightly below Wall Street estimates, as it shipped fewer motorcycles while phasing in new software control systems at its main U.S. factories.

Faced with an uncertain economic environment at home and abroad, the U.S. manufacturer has been focused on making each sale more profitable, and forecast that 2013 operating margin would rise to between 35.25 percent and 36.25 percent of sales, up from 34.8 percent last year.

BOSTON (Reuters) – The union that represents U.S. professional football players has given Harvard University a $100 million grant for a study of the range of health problems, from brain damage to heart conditions, that affect current and former players.

Researchers with Harvard Medical School plan to spend a decade studying hundreds of former players who are members of the National Football League Players Association, school officials said on Tuesday. The aim is to develop strategies to limit the long-term damage that players suffer from years of hits on the field.

By Scott Malone and Ben Berkowitz

(Reuters) – After four years of belt-tightening, American companies are good at squeezing more profit out of every dollar of sales – a skill that chief executives regard as critical in the face of an uncertain economy.

While the headline-making cuts of the last recession – when companies shed tens of thousands of workers as they scrambled to lower costs – have mostly passed, they have kept their focus on finding lots of small steps to improve earnings.

By Scott Malone and Ben Berkowitz

(Reuters) – After four years of belt-tightening, American companies are good at squeezing more profit out of every dollar of sales – a skill that chief executives regard as critical in the face of an uncertain economy.

While the headline-making cuts of the last recession – when companies shed tens of thousands of workers as they scrambled to lower costs – have mostly passed, they have kept their focus on finding lots of small steps to improve earnings.

Jan 27 (Reuters) – After four years of belt-tightening,
American companies are good at squeezing more profit out of
every dollar of sales – a skill that chief executives regard as
critical in the face of an uncertain economy.

While the headline-making cuts of the last recession – when
companies shed tens of thousands of workers as they scrambled to
lower costs – have mostly passed, they have kept their focus on
finding lots of small steps to improve earnings.

By Scott Malone

(Reuters) – 3M Co began to unveil on Thursday some of the steps Chief Executive Officer Inge Thulin is making to improve profitability at underperforming units.

Thulin, who took the top job at the diversified U.S. manufacturer in February, said last year that he had identified a handful of units that it would need to fix, sell or close.