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Bullish on aerospace, United Tech lifts 2013 forecast

By Ernest Scheyder (Reuters) - United Technologies Corp, the world's largest maker of elevators and air conditioners, raised the bottom end of its 2013 earnings forecast on Tuesday, citing its growing confidence after a jump in aerospace orders and cost cuts. However, the conglomerate, which also makes Pratt & Whitney jet engines and Black Hawk helicopters, said revenue would be at the lower end of its forecast of $64 billion to $65 billion for this year.

United Technologies warns of possible impact from US court order to pay $473M on fraud charges

HARTFORD, Conn. - A federal court order that United Technologies Corp. pay $473 million plus interest to compensate for alleged fraud in its sale of fighter jet engines could cut into revenue and profit, the aerospace giant said in a regulatory filing. Judge Thomas M. Rose of the U.S. Southern District Court of Ohio issued the order on Monday. The Department of Justice had accused United Technologies subsidiary Pratt

United Technologies told to pay $473 million to U.S. in lawsuit

By Nate Raymond (Reuters) - A federal judge has ordered United Technologies Corp <UTX.N> to pay $473 million plus interest for manipulating costs to win U.S. Air Force jet engine contracts in the 1980s. The ruling by U.S. District Judge Thomas Rose in Dayton, Ohio, was issued on Monday for a 1999 lawsuit in which the Department of Justice sought reimbursement for overcharges by United Technologies subsidiary Pratt & Whitney.
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