United Tech to cut pension liabilities by $1.77 bln [Reuters]
UNITED TECHNOLOGIES (UTX)
Last united technologies earnings: 1/28 06:30 am
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Source: Reuters
Oct 6 United Technologies Corp, maker ofPratt & Whitney engines, said on Thursday it would cut theoverall size of its pension liabilities by about $1.77 billionin 2016. The company, which also makes Otis elevators, said itexpected to incur a one-time pre-tax pension settlement chargeof $400 million to $530 million in the fourth quarter. United Technologies had future pension and post-retirementbenefit obligations of $5.71 billion as of June 30. (Reporting by Rachit Vats in Bengaluru; Editing by RichardChang) Next In Funds News UPDATE 1-Europe risks, rate hike fears prompt U.S. fund outflows (Adds details on flows into mutual funds and ETFs, analystquote, table, byline) By Trevor Hunnicutt NEW YORK, Oct 6 Investors pulled $9.1 billionfrom U.S.-based stock funds in the latest week, Lipper datashowed on Thursday, on growing anxiety about Brexit, thestability of Deutsche Bank AG and the timing of thenext U.S. interest
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