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United Technologies hit by Chinese building slowdown

2015-07-23 00:01:55| Paper - Topix.net

Industrial giant United Technologies slashed its 2015 earnings forecast Tuesday due to the sharp slowdown in China's real estate sector and disappointing aviation parts sales. Key areas of weakness included the Otis elevator business, which suffered from anemic demand in China and Europe, and weaker-than-expected plane parts orders.

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