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Construction and Engineering

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  • BUCKEYE LAKE, Ohio— An engineering firm that analyzed the deteriorated dam at central Ohio's Buckeye Lake suggested Friday that changes could be made to raise the water level and keep boats and surrounding businesses afloat without decreasing safety, though state officials have some concerns about the proposals. The local chamber of commerce sought an...

  • LANSING, Mich.— A business group on Thursday initiated legislation to repeal Michigan's 50- year-old prevailing wage law, a maneuver that would help conservatives bypass Gov. If the group's petition is approved and it collects roughly 252,000 valid voter signatures, the bill would go to the Legislature. Chris Fisher, president of the Associated Builders and...

  • KITTEH, Jordan— Fawziyeh Sharif and dozens of other young women who make jeans for the U.S. market in a factory in this village in northern Jordan consider themselves lucky— even though they spend 48 hours a week bent over sewing machines for minimum wage. The problem has been debated by regional decision-makers for years, but has taken on even greater urgency with...

  • Report boosts homebuilder shares Tuesday, 19 May 2015 | 1:39 PM ET

    The Commerce Department report shows that housing starts last month increased 20.2 percent for the month, to an annual rate of 1.14 million homes. "The housing market comes back in the spring, is what realtors always say, and boy is this true today," said Christopher Rupkey, chief financial economist at MUFG Union Bank, in a note to clients. The report helped lift...

  • NEW YORK, May 19- Encouraging housing starts data and a bulge of corporate bond supply knocked U.S. "This morning's market action was driven by a pretty good housing starts number," said Stanley Sun, interest rate strategist at Nomura Securities International in New York. Investment-grade companies raised $18 billion in the debt market on Monday with more on the...

  • WASHINGTON— The U.S. housing market has given a sudden jolt to what appeared to be a slumping economy. Builders broke ground on homes last month at the fastest pace in more than seven years. "If you're willing to buy a house, that speaks volumes about your confidence, job prospects and economic fortunes going forward," said Michael Dolega, a senior economist at TD Bank.

  • U.S. housing starts, permits surge in April Tuesday, 19 May 2015 | 8:30 AM ET

    WASHINGTON, May 19- U.S. housing starts jumped to their highest level in nearly 7-1/ 2 years in April and permits soared, offering a glimmer of hope for an economy that is struggling to regain strong momentum after a dismal first quarter. Groundbreaking surged 20.2 percent to a seasonally adjusted annual pace of 1.14 million units, the highest since November 2007,...

  • Ahead of the Bell: US home construction Tuesday, 19 May 2015 | 6:19 AM ET

    WASHINGTON— The Commerce Department reports on April U.S. home construction Tuesday at 8:30 a.m. Eastern. Sales of existing homes jumped 6.1 percent in March to a seasonally adjusted annual rate of 5.19 million, the National Association of Realtors said last month. The National Association of Home Builders/Wells Fargo builder sentiment index released...

  • NEW YORK— A plan to tackle "the worst financial crisis" in the history of the New York City Housing Authority includes leasing unused land in housing complexes for private residential development, a proposal that has caused controversy in the past, as well as other steps like modernizing rent collection, Mayor Bill de Blasio said Tuesday. The city has grappled for...

  • JAKARTA, May 19- For Indonesia's second-largest state construction firm PT Wijaya Karya Tbk, the half-year since President Joko "Jokowi" Widodo took office with promises of a massive infrastructure push has been as much about waiting as it has been about building. Shares of Wijaya Karya, PT Waskita Karya Tbk, PT Adhi Karya Tbk and PT Pembangunan Perumahan Tbk now...

  • *Altera rallies on Intel M&A report. U.S. homebuilder sentiment fell in May although most builders view market conditions as favorable, the National Association of Home Builders said on Monday. "It's becoming more of the collective thought that the Fed can wait, because you really don't see any blistering growth," said Kurt Brunner, a portfolio manager at...

  • US STOCKS-Wall St down as homebuilder confidence slips Monday, 18 May 2015 | 10:59 AM ET

    *Altera up on report of possible deal with Intel. *Ann rises after Ascena Retail takeover offer. "Right now with the way things are going, especially with the yield curve getting steeper, it's going to be less and less likely the Fed will raise rates in September," John Burke, CEO of Burke Financial Strategies in New York.

  • US homebuilders' confidence in sales prospects ebbs Monday, 18 May 2015 | 10:00 AM ET

    The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped to 54 this month, down two points from 56 in April. "Consumers are exhibiting caution, and want to be on more stable financial footing before purchasing a home," said NAHB Chief Economist David Crowe. Sales of new U.S. homes plummeted 11.4 percent in March, as the...

  • *Altera up on report of possible deal with Intel. *Ann rises after Ascena Retail takeover offer. If the index does not rise, as expected, stocks could rally, said Adam Sarhan, chief executive of Sarhan Capital in New York.

  • May 18- U.S. stocks opened slightly lower on Monday as the market awaited homebuilder sentiment data that could feed into the Federal Reserve's assessment on how soon to raise rates. The National Association of Homebuilders' monthly confidence index, due at 10 a.m. ET, is expected to show a slight rise. The Dow Jones industrial average fell 1.97 points, or 0.01...

  • *Altera, Ann rises on possible deals. The market will get another clue on the state of the economy at 10 a.m. ET when the National Association of Homebuilders releases its monthly homebuilder confidence index. If the index does not rise, as expected, stocks could rally, said Adam Sarhan, chief executive of Sarhan Capital in New York.

  • LONDON, May 18- Top executives at one of the world's largest makers of construction machinery have said Britain could be better off outside the European Union, a contrast with the view of many businesses which favour remaining in the bloc. We could exist on our own, peacefully and sensibly, " Anthony Bamford, head of the family-owned JCB group and a major donor to...

  • BRASILIA, May 15- Brazilian prosecutors said on Friday they have obtained court orders for the seizure of 980 million reais in assets of construction firms under investigation in a massive corruption scandal at state-run oil company Petrobras. A federal court ordered the seizure of 282 million reais in assets from one of Brazil's largest construction and...

  • NEWPORT CITY, Vt.— Construction has begun on a $100 million stem cell research and manufacturing facility. "Job creation is the focus and the centerpiece of this," said Bill Stenger, CEO and president of Jay Peak Resort and lead partner in the AnC Bio Vermont project. Mayor Paul Monette said the jobs will help the entire region, an area that traditionally has the...

  • WASHINGTON— A plunge in energy-related drilling and sluggish manufacturing sent U.S. industrial output down for a fifth straight month in April. Last year's steep decline in oil prices, from about $110 a barrel to $50 in January, has forced energy firms to rapidly scale back operations. Companies like Caterpillar are exporting fewer trucks, bulldozers and...