Despite Overseas Weakness, US Durable Goods Rise
Construction and Engineering
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Jan 25- A son of deposed Libyan leader Muammar Gaddafi allegedly received 120 million euros in bribes for giving major contracts in Libya to SNC-Lavalin Inc, Canada's biggest engineering and construction company, a police document said on Friday.
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WASHINGTON, Jan 25- Sales of new U.S. single-family homes rose last year to the highest level since 2009, a sign the troubled U.S. housing market has turned a corner. "Overall the stage is set for more home building," said Michelle Meyer, an economist at Bank of America Merrill Lynch in New York.
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*Median sales price rises to $248,900, up 13.9 pct on year. Indeed, the Commerce Department raised its estimate for sales in November by 22,000 to a 398,000- unit rate, making the pace of sales in November the fastest since April 2010.
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WASHINGTON, Jan 25- New U.S. single-family home sales fell in December although the median sales price rose and the sector still appears set to be a bright spot in the country's economic recovery. The Commerce Department said on Friday sales dropped 7.3 percent last month to a seasonally adjusted 369,000- unit annual rate.
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WASHINGTON, Jan 22- U.S. home resales unexpectedly fell in December, but the drop was not large enough to suggest the recovery in the housing sector is running out of steam. The National Association of Realtors said on Tuesday that existing home sales dropped 1.0 percent last month to a seasonally adjusted annual rate of 4.94 million units.
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*Buys Johnson Screens from Weatherford International. FRANKFURT, Jan 18- Germany's Bilfinger, which has shifted from construction to servicing industrial plants, is to buy water technology company Johnson Screens for an undisclosed sum to access customers in the United States and Australia.
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*Household formation lifting off recession troughs. *Improving jobs picture behind rise. WASHINGTON, Jan 18- Americans are feeling increasingly confident in the future and more and more are striking out to set up their own homes, a move that is helping propel the housing recovery.
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*Google buys London site to build 1 mln sq ft HQ. LONDON, Jan 17- Google Inc. is developing a new UK headquarters which could be worth as much as 1 billion pounds when finished, the latest overseas property deal for the cash-rich U.S.
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WASHINGTON, Jan 17- Groundbreaking to build new U.S. homes accelerated in December to its fastest pace in over four years, supporting the view that housing is poised to provide a substantial boost to the U.S. economy. The Commerce Department said on Thursday that starts at building sites for homes surged 12.1 percent last month to a 954,000- unit annual rate.
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WASHINGTON, Jan 16- U.S. homebuilder confidence in the market for single family homes held steady at near seven year highs in January, suggesting the outlook for the housing market remained upbeat. The NAHB/Wells Fargo Housing Market index was at 47 this month, the highest level since April 2006.
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CNBC's Michelle Caruso-Cabrera reports the American Society of Civil Engineers says the nation would lose 3.5 million jobs if it fails to fix its aging infrastructure. Donna Cooper, Center for American Progress, weighs in.
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*Lennar to start construction on 3,000 apartment units in 2013. *Lennar well positioned to gain market share in 2013- CEO. Jan 15- Lennar Corp, the No. 3 U.S. homebuilder, plans to venture into the apartment rental market to take advantage of a supply crunch, even as rising sales of its single-family homes underlined a strong housing recovery.
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CNBC's Michelle Caruso-Cabrera reports the latest data from the American Society of Civil Engineers show the nation could lose 3.5 million jobs due to the shortfall in infrastructure funding.
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Europe has just three leading manufacturers of high-voltage direct current cables: Swiss engineering firm ABB, Italy's Prysmian and France's Nexans. Siemens also is a major supplier of converter station equipment. In Europe, DC cables already link Nordic countries and Britain to the continent and Mediterranean islands to mainland Spain.
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*Lennar well positioned to gain market share in 2013- CEO. Jan 15- Lennar Corp, the No. 3 U.S. homebuilder, reported a sharp rise in quarterly profit and a seventh straight jump in new home orders, in further evidence that a housing recovery is well on track.
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Lennar's quarterly profit handily beat Wall Street expectations and the homebuilder reported a seventh straight jump in new home orders.
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Jan 15- Lennar Corp's quarterly profit handily beat analysts' expectations and the homebuilder reported a seventh straight jump in new home orders, indicating that a U.S. housing recovery is well on track. Net income rose to $124.3 million, or 56 cents per share, in the fourth quarter, from $30.3 million, or 16 cents per share, a year earlier.
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Jan 15- Homebuilder Lennar Corp reported a higher quarterly profit and a seventh straight rise in new home orders. Net income rose to $124.3 million, or 56 cents per share, in the fourth quarter, from $30.3 million, or 16 cents per share, a year earlier. Orders rose 32 percent to 3,983 homes.
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OSLO, Jan 7- Lying at the bottom of a giant water-filled pit in western Norway, a thousand-tonne gas compressor is humming along, going through gruelling tests as engineers prepare it to change oil and gas production for good.
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DETROIT, Jan 3- Elio Motors has agreed to purchase a former General Motors Co assembly plant near Shreveport, Louisiana and will use it to build three-wheeled vehicles that it says will get more than 80 miles on a gallon of gasoline, the company said on Thursday.