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Construction and Engineering

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  • SHANGHAI, June 1- China National Nuclear Power Co Ltd, a unit of one of the country's two state nuclear reactor builders, on Monday said it aims to raise 13.19 billion yuan in potentially the largest China IPO in almost four years. The company intends to issue 3.891 billion shares at 3.39 yuan a piece, and will start taking subscriptions from investors on Tuesday,...

  • BRASILIA, May 30- Three workers died and three were injured in an accident at the construction site of the massive hydroelectric dam Belo Monte in northern Brazil, the builder said on Saturday. The likes of Hollywood director James Cameron and the Inter-American Court on Human Rights have said Belo Monte would displace indigenous people in the Amazon.

  • STOCKHOLM, May 29- Swedish builder Skanska said on Friday its LaGuardia Gateway Partners consortium had been selected as preferred bidder in a $3.6 billion project to build a new terminal at New York's LaGuardia Airport. Skanska said its share of the equity investment would be up to 40 percent, while its share of the construction contract is 70 percent.

  • The project includes developer Skanska USA Inc., architecture and engineering company HOK and financial firms Morgan Stanley and Citigroup Inc. The work is expected to be completed by 2021 at a cost of $3.6 billion, according to the Port Authority's capital plan. "For too long, LaGuardia has been the stepchild of our region's airports compared to JFK and Newark...

  • May 27- Toll Brothers Inc, the largest U.S. luxury homebuilder, reported a better-than-expected quarterly profit, helped by a lower tax provision. The market consists of Arizona, California, Colorado, Nevada and Washington. The company's shares fell as much as 3.7 percent to $35.63 on the New York Stock Exchange on Wednesday.

  • SAO PAULO, May 27- Brazil is considering an expanded role for private companies in nuclear power generation, as it looks to meet rising electricity demand and provide backup for a hydro system pushed to its limits, Energy Minister Eduardo Braga said on Wednesday. Braga, who calls nuclear power "a necessity but not a priority," wants up to four new reactors to provide...

  • UPDATE 1-Homebuilder Toll Brothers profit beats estimates Wednesday, 27 May 2015 | 6:46 AM ET

    May 27- Toll Brothers Inc, the largest U.S. luxury homebuilder, reported a better-than-expected quarterly profit and raised the low end of its average selling price forecast for the full year as demand strengthens. The company raised the low end of its average selling price range to $730,000 from $725,000. Net income rose to $67.9 million, or 37 cents per share,...

  • US new-home sales jump in April Tuesday, 26 May 2015 | 10:02 AM ET

    WASHINGTON— More Americans bought new homes in April— evidence that the stronger job market is powering the housing sector. The Commerce Department said Tuesday that new-home sales climbed 6.8 percent last month to a seasonally adjusted annual rate of 517,000. Sales recovered from a 10 percent dip in March to an annual pace of 484,000.. Over the past 12 months,...

  • U.S. new home sales, prices rise strongly in April Tuesday, 26 May 2015 | 10:00 AM ET

    WASHINGTON, May 26- New U.S. single-family home sales rose more than expected in April and the median price surged, suggesting the housing market recovery was gaining traction. The Commerce Department said on Tuesday sales increased 6.8 percent to a seasonally adjusted annual rate of 517,000 units. March's sales pace was revised up to 484,000 units from the...

  • McDermott International shares rise on rig contract Tuesday, 26 May 2015 | 8:19 AM ET

    NEW YORK— Shares of McDermott International Inc. jumped in premarket trading Tuesday after the company said it was awarded a large offshore construction contract by oil and gas giant Saudi Aramco. The stock rose 39 cents, or 8.4 percent, to $5.06 before the opening of regular trading. The Houston- based engineering and construction company will work on twelve...

  • Ahead of the Bell: US new-home sales Tuesday, 26 May 2015 | 7:09 AM ET

    WASHINGTON— The Commerce Department reports on April sales of new homes Tuesday at 10 a.m. Eastern. SALES BUMP: Economists expect a 4 percent increase in new-home sales to a seasonally adjusted annual rate of 500,000, according to a survey by data the firm FactSet. The annual pace of housing starts jumped 20.2 percent from March to 1.14 million, the highest rate...

  • FORT WAYNE, Ind.— General Motors announced Tuesday it would spend $1.2 billion on new facilities and technology at an Indiana factory where it builds Chevrolet Silverado and GMC Sierra pickup trucks. No plans for additional jobs were announced as part of the Fort Wayne expansion, which is part of GM's plan to invest $5.4 billion at its U.S. plants over the next...

  • DENVER— Construction crews are returning to work at the veterans hospital outside Denver after a last-minute deal with congressional leaders avoided a shutdown of the half-finished project. Congress and the Veterans Affairs Department still must find up to $830 million to finish the vastly over-budget hospital without taking services away from...

  • LONDON, May 22- A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership. Deutsche Bank, the euro zone's second largest bank by assets, confirmed this week it was considering cutting its UK operations if the country pulled out, and other...

  • China approves China National Nuclear Power Corp IPO Friday, 22 May 2015 | 7:44 AM ET

    BEIJING, May 22- China approved the initial public offering of China National Nuclear Power Corp, one of the country's two state nuclear reactor builders, the securities regulator said in a statement on its official Weibo feed. According to the company's prospectus, which was filed on May 4 last year, CNNPC is a unit of state-owned nuclear developer CNNC Group, and...

  • MOLINE, Ill.— Solid sales in its construction equipment offset a global agricultural slowdown for Deere, and the company raised its outlook for the year. In April, builders broke ground on homes at the fastest pace in more than seven years, according to the Commerce Department. Deere said sales of farming equipment fell 25 percent from a year ago to $5.77 billion in...

  • 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...

  • 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...