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  • Below are foreign companies that have appeared in Brazil's largest-ever corruption case named "Operation Car Wash" for a Brasilia gas station where some of the alleged money laundering took place. Petrobras wrote off $2.1 billion in graft losses, though federal police and prosecutors believe the amount siphoned from the company for more than a decade could...

  • DUBAI, May 26- Long used to lucrative state contracts, Iran's biggest construction company faces leaner times, as overseas firms better able to attract financing push for orders in an economy trying to open to the world after years of sanctions. The misfortunes of Khatam al Anbia Construction Headquarters are an unwelcome novelty for its powerful owners, the...

  • ALBANY, N.Y.— A state oversight board controlled by the New York Legislature and Democratic Gov. The $750 million SolarCity plant being built with public funds is nearing completion and the money being considered by the board is believed to be the balance of the state's commitment to not only build the million-square-foot factory, but fit it out with...

  • WASHINGTON, May 24- New U.S. single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects. Tuesday's report from the Commerce Department, which also showed a surge in new home prices to a record high, offered further evidence...

  • NEW YORK— A new report from the U.S. that showed Americans are snapping up homes at a pace not seen since the housing bust-fueled recession pushed the trading of shares of all companies affiliated with the sector into overdrive Tuesday. The Commerce Department reported that new home sales jumped 16.6 percent last month to a seasonally adjusted rate of 619,000,...

  • NEW YORK, May 24- U.S. Growing bets that the Federal Reserve may raise interest rates as early as June also underpinned the sell-off in the bond market ahead of a $26 billion auction of two-year Treasury notes at 1 p.m.. "The Fed is looking to raise rates," said Justin Lederer, Treasury strategist at Cantor Fitzgerald in New York.

  • WASHINGTON, May 24- New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth that could allow the Federal Reserve to raises interest rates soon. The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual...

  • WASHINGTON— Americans ramped up their purchases of new homes in April to the highest level since January 2008, evidence of a strong start to the spring buying season. The Commerce Department said Tuesday that new home sales jumped 16.6 percent last month to a seasonally adjusted rate of 619,000, up from a revised total of 531,000 in March. Developers have been...

  • WASHINGTON— US new-home sales soar to highest level in 8 years on strong gains in Northeast and West.

  • WASHINGTON, May 24- New U.S. single-family home sales surged to a more than eight-year high in April and prices hit a record high, offering further evidence of a pick-up in economic growth early in the second quarter. The Commerce Department said on Tuesday new home sales jumped 16.6 percent to a seasonally adjusted annual rate of 619,000 units, the highest level...

  • May 24- Luxury home builder Toll Brothers Inc's second-quarter revenue rose nearly 31 percent as the company sold more homes at average selling prices that increased during the quarter. The company said net income rose to $89.1 million, or 51 cents per share in the quarter ended April 30, from $67.9 million, or 37 cents per share, a year earlier.

  • Faraday is "excited to kick off these next steps at our Nevada facility, and bring our vision of future mobility closer to reality," the company said in a statement. Faraday announced it will work with the multinational, Los Angeles- based design firm AECOM for architecture, design and construction of the facility. Faraday unveiled a sleek, futuristic concept car in...

  • The New York Power Authority said SunEdison's move into bankruptcy court protection last month means the agency has to find at least one other company to join SolarCity as a contractor for the "K-Solar" initiative. The companies had been given territory as recommended contractors by the authority, with SunEdison to handle work in western and central New York...

  • ABU DHABI, May 22- Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long period of austerity as low crude prices pressure their economies. Since mid-2015, the United Arab Emirates, Saudi Arabia, Qatar and other countries in the region have curbed spending on some construction...

  • Andrew Cuomo pitched a new big-projects agency as a way to help smooth the way for massive state construction like the planned $29 billion mass transit overhaul in New York City, but critics worry about a power grab by the famously hands-on leader. The new state budget recently signed by Cuomo creates the Design and Construction Corp., a three-member panel to be...

  • *Existing home sales rise 1.7 pct in April. WASHINGTON, May 20- U.S. home resales rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. The National Association of Realtors said on Friday existing home sales increased 1.7 percent to an annual rate of 5.45 million units.

  • BRASILIA, May 20- Brazil's federal police on Friday said they widened a probe of construction conglomerate Odebrecht SA to investigate possible money laundering and influence peddling in contracts awarded for projects in Angola. At least one relative to former president Luiz Inacio Lula da Silva was targeted by the operation that included four search and...

  • CAIRO— Egypt has announced a $25 billion loan from Russia for the building of a nuclear power plant. Egypt, which will cover the other 15 percent, is to repay the loan over a 22- year period, starting in 2029, with a 3 percent annual interest rate. Egypt and Russia agreed in February 2015 to build the plant together and signed a memorandum of understanding on the...

  • SAO PAULO— A federal judge in Brazil on Wednesday sentenced a former presidential chief of staff to more than 20 years in prison for involvement in a massive corruption-kickback scheme at state-owned oil company Petrobras. Prosecutors say that more than $2 billion was paid in bribes and other funds by Brazil's biggest construction and engineering firms in...

  • RIYADH/ DUBAI, May 18- Construction firm Saudi Binladin Group has secured a 2.5 billion riyal loan from local banks to ease its financial pressures, banking sources aware of the matter said on Wednesday. Arab National Bank and Saudi British Bank are providing the loan, which Binladin is using to cover redundancy costs for workers it is laying off, back salaries and...