ITT posted a 65% increase in second-quarter...

ITT posted a 65% increase in second-quarter earnings. The New York-based company said actions taken to streamline management structure, reduce costs, pare down debt and focus assets on core businesses contributed to the strong performance. The company declined to break out the figures for each of its business segments, but said results in diversified services were significantly ahead of last year because of improvement in the domestic casualty business at its Hartford insurance unit. subsidiary. It said its Sheraton Hotel subsidiary posted significant increases due to improved North American operations.