*Saudi labor ministry issues statement on unpaid wages. DUBAI, Feb 9- Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low oil prices, which are causing the government to slow spending on building projects. In an unusual move this week, the Ministry of Labour issued a public...» Read More
NEW YORK, Aug 18- U.S. "It's a solid number, its consistent with the tone of underlying improvement in the housing market," said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York. Fed Chair Janet Yellen said in July that the economy faces constraints from an underperforming housing market.
WASHINGTON, Aug 18- U.S. housing starts rose to a near eight-year high in July as builders ramped up construction of single-family homes, suggesting that the economy was firing on almost all cylinders. The Commerce Department report on Tuesday added to solid payrolls, retail sales and industrial output data in suggesting the economy got off to a strong start in...
WASHINGTON, Aug 18- U.S. housing starts rose to a near eight-year high in July as builders ramped up construction of single-family homes, the latest indication that the economy was firing on almost all cylinders. Groundbreaking increased 0.2 percent to a seasonally adjusted annual pace of 1.21 million units, the highest level since October 2007, the Commerce...
Aug 18- Home Depot Inc, the world's No. 1 home improvement retailer, reported a better-than-expected rise in quarterly same-store sales, helped by a recovery in the U.S. housing market. Demand for home improvement products was strong in the quarter due to growth in existing home sales, Wedbush Securities analyst Seth Basham wrote in a note ahead of the results.
Aug 17- The opening of the $3.5 billion Baha Mar mega-resort in the Bahamas is expected to be delayed beyond the start of the Christmas season, with the developer deep in an escalating legal battle with the Chinese companies that are providing most of the finance and construction work. Even if construction on the unfinished resort resumed this month, there is...
*Disney shines as Star Wars will make its way to theme parks. *Zulily soars on Liberty Interactive's buyout offer. "The housing data was pretty good," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
NEW YORK, Aug 17- World equity indexes advanced modestly on Monday as upbeat U.S. housing data helped Wall Street shrug off a weak manufacturing report, while the prospect of higher U.S. interest rates lifted the dollar for a third day. Earlier in the session, stocks had dropped as Empire State data showed August manufacturing activity in New York was at its weakest...
*Empire State manufacturing way below expectations. NEW YORK, Aug 17- World equity indexes gained modestly on Monday as upbeat U.S. housing data helped Wall Street shrug off a weak manufacturing report, while the prospect of higher U.S. interest rates lifted the dollar for a third day. Earlier, stocks had dropped as Empire State data showed August manufacturing...
*Zulily soars on Liberty Interactive's $2.4 bln buyout offer. *Tesla jumps after Morgan Stanley upgrade. Aug 17- Wall Street erased earlier losses to notch modest gains in late morning trading on Monday after data showed that U.S. homebuilder sentiment rose in August to its highest level in nearly a decade.
NEW YORK, Aug 17- U.S. homebuilder sentiment rose in August to its highest level since a matching reading almost a decade ago, the National Association of Home Builders said on Monday. The latest level was the highest since a matching reading in November 2005. The single-family home sales component rose to 66 from 65 to mark its highest level since November 2005.
*Iran seeks to upgrade derelict refining, petchem sector. *Oil services executives visit Iran on tour of sites. Officials from Iran's oil refining company NIORDC, its National Petrochemical Company and the privately owned Persian Oil and Gas are holding talks with services firms to clinch projects to repair Iran's derelict refining and petrochemical sector.
SAO PAULO, Aug 14- More defendants are negotiating and signing plea bargain deals in a massive bribery case focused on Brazil's state-run oil firm Petrobras as federal prosecutors prepare charges against higher-profile suspects, including politicians. Petrobras' former head of corporate services Renato Duque and Fernando Soares, a lobbyist who helped...
Jalil Rasheed, Investment Director, Head Of Singapore Office, Invesco, says he's not too concerned about the quarterly data prints given Singapore's transition to knowledge from manufacturing.
Physicists at MIT show it is possible to create objects that can move with almost no friction, and it may be big for nanotechnology.
CNBC's Steve Liesman and Mark Luschini, Janney Montgomery Scott, look at recent construction data and forecast action in the stock market.
Charles Bacon, Limbach Facility CEO, shares his passion for construction worker safety across the U.S.
How Ferguson, Missouri is working to rebuild small businesses, with CNBC's Kate Rogers.
With anti-pollution becoming a major focus for the Chinese government, some builders are turning to more innovative ways. CNBC's Eunice Yoon reports.
Lotte Group's Shin Kyuk-ho is making his mark with Seoul's tallest tower, amidst the crumble of public faith in corporate giants over safety fears and mistrust.
Prototypes of driverless cars are set to get the go-ahead on a stretch of Germany's busy A9 autobahn, NBC News reports.