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Capital Goods Construction and Engineering

  • Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar on June 5 and imposed economic sanctions, accusing it of funding terrorism, a claim Qatar rejects. Many multinational businesses, from builders to law firms and banks, have a base in Dubai from where they serve the region, including Qatar. "Qatar is a valuable market for us and we...

  • Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic ties with Qatar on June 5 and imposed economic sanctions, accusing it of funding terrorism, a claim Qatar rejects. Many multinational businesses, from builders to law firms and banks, have a base in Dubai from where they serve the region, including Qatar. "Qatar is a valuable market for us and we...

  • June 28- U.S. office vacancy rate was flat at 16 percent in the second quarter of 2017, compared with the preceding quarter, according to real estate research firm Reis Inc.. Asking rent and effective rent both rose 1.6 percent in the second quarter from the same period a year earlier. "We expect stronger construction in 2017 than in 2016 which means that the vacancy...

  • *Greenpeace calls on minister to halt reactor construction. PARIS, June 28- EDF's Flamanville 3 nuclear reactor being built in northwest France is fit for service despite weak spots in its steel, but the utility will have to replace the reactor cover by 2024 at the latest, nuclear regulator ASN said. The ASN's green light for Flamanville, slated for start-up in late...

  • NEW YORK, June 28- Stocks of large U.S. home builders and building materials companies are poised to rise as millennials age and need housing, according to Bill Smead, the chief executive of Smead Capital Management. The title of the animated TV show is his shorthand for Amazon.com Inc, electric car maker Tesla Inc, and technology companies such as Google parent...

  • PARIS, June 28- French nuclear regulator ASN said in a statement on Wednesday that EDF's nuclear reactor under construction in Flamanville is fit for service, despite weak spots in its steel. The ASN added, however, that the reactor will need extra monitoring over its lifetime and that its cover may have to be replaced in a few years, if operator EDF does not manage to...

  • *Japan's JSW, not Areva's own foundry, would forge new cover. *Greenpeace calls on minister to halt reactor construction. PARIS, June 28- Utility EDF's Flamanville 3 nuclear reactor in northwest France has been cleared by a group of experts for start-up despite weak spots in its steel, confirming the findings of the ASN nuclear regulator, a source close to the...

  • SEOUL, June 27- South Korea's government said on Tuesday it would suspend construction of two partially-completed nuclear reactors while it gathers public opinion on the facilities and decides whether they should be scrapped. The move comes after the country's new president, Moon Jae- in, said South Korea would stop building new nuclear power plants and not...

  • *Testing of Flamanville reactor cover insufficient- ASN. PARIS, June 26- The cover of the reactor vessel EDF is building in Flamanville, France, may not be able to function more than a few years unless the utility can do additional tests which so far it has not be able to, nuclear regulator ASN said in a report. The reputational damage could also add to concerns in...

  • WASHINGTON, June 23- New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum. The Commerce Department said on Friday new home sales increased 2.9 percent to a seasonally adjusted rate of 610,000 units last month. "While the data quality of the new home sales report is...

  • WASHINGTON, June 23- New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum. The Commerce Department said on Friday new home sales increased 2.9 percent to a seasonally adjusted rate of 610,000 units last month. The median house price rose to a record high of $345,800...

  • ESTORIL, Portugal, June 21- Decommissioning nuclear plants in Europe and North America from 2020 threatens global plans to cut carbon emissions unless governments build new nuclear plants or expand the use of renewables, a top International Energy Agency official said. Nuclear is now the largest low-carbon power source in Europe and the United States, about...

  • WASHINGTON, June 21- U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median home price to an all-time high. The National Association of Realtors said on Wednesday existing home sales increased 1.1 percent to a seasonally adjusted rate of 5.62 million units last month.

  • June 20- Lennar Corp, the No. 2 U.S. homebuilder, reported a higher-than-expected quarterly profit, as it sold more homes at higher prices. The company's stock was up 3.8 percent at $54.75 in premarket trading on Tuesday. Net income attributable to Lennar fell to $213.6 million, or 91 cents per share, in the second quarter, from $218.5 million, or 95 cents per share, a year...

  • June 20- Lennar Corp, the No. 2 U.S. homebuilder, reported a 18.8 percent rise in quarterly revenue on Tuesday, as it sold more homes at higher prices and orders rose 11.8 percent. Net income attributable to Lennar rose to $213.6 million, or 91 cents per share, in the second quarter ended May 31, from $218.5 million, or 95 cents per share, a year earlier.

  • SINGAPORE/ DHAKA, June 20- Mohammad Ashadul Islam placed all his hopes for a better life for his family in Bangladesh on getting a construction job in Singapore. For Singapore, a system of temporary labor to do many jobs in the construction, shipping, manufacturing and service industries including hotels and restaurants- works as an effective buffer.

  • *SSE chief says Hinkley Point will depend on Flamanville. ESTORIL, Portugal, June 19- The head of one of Britain's top utilities said on Monday that EDF's planned nuclear power station at Hinkley Point is likely to be the only one to go ahead in the UK. EDF is building the same type of European Pressurised Reactor in Flamanville, France as it plans for Hinkley Point, but...

  • KHOBAR, Saudi Arabia, June 17- Employees of troubled construction company Saudi Oger will be moved to other firms, the Saudi labor ministry said, amid unconfirmed reports that workers there will be laid off from July 31. The ministry said there were 1,200 Saudis among a total of around 8,000 workers at the company, which is owned by the family of Lebanese Prime...

  • WASHINGTON, June 16- U.S. homebuilding fell for a third straight month in May to the lowest level in eight months as construction activity declined broadly, suggesting that housing could be a drag on economic growth in the second quarter. "The recent stall in homebuilding is bad news for growth," said Gus Faucher, chief economist at PNC Financial in Pittsburgh.

  • WASHINGTON, June 16- U.S. homebuilding fell for a third straight month in May to the lowest level in eight months as construction activity declined broadly, which could raise concerns that the housing market recovery was faltering. Housing starts dropped 5.5 percent to a seasonally adjusted annual rate of 1.09 million units, the Commerce Department said on...