DAR ES SALAAM, May 4- Nigeria's Dangote Cement said it will begin production in Tanzania in August, as sub-Saharan Africa's leading cement producer eyes new markets on the continent. A $500 million factory it is building in southern Tanzania, with an annual capacity of 3 million tonnes, will double the country's annual output of cement to 6 million tonnes.» Read More
What do homebuilding, footwear and computer hardware stocks have in common? They're all good value plays, says Craig Callahan, president of ICON Advisors. He was on “Squawk on the Street” to talk with Mark Haines and Erin Burnett about his picks. ICON predicts steady growth for some companies in these areas.
Looking for signs of a bottom in the U.S. housing business has become a full-time obsession on Wall Street--but there's precious little evidence we are there. Credit Suisse put out their monthly survey of new and existing home sales trends this morning. Conditions remained unchanged in 62% of markets surveyed improved in 19%--and deteriorated in 19%.
French construction and telecom company Bouygues said Thursday strong growth in its construction and road building businesses boosted profit by 36% in the third quarter.
An Italian administrative court has ruled in favor of a government decision to block Autostrade's deal with Spanish infrastructure company Abertis Infraestructuras, Autostrade said Thursday.
A late look at stocks shows the Dow trading in a narrow 31-point range. Volume was light as well. Software, autos and gold were all under pressure. Homebuilders were trading up though on an increase in mortgage applications – which was boosted by the lowest mortgage rates in a year.
The money manager discusses stocks, housing and “burger flippers” with CNBC’s Tyler Mathisen in an exclusive cnbc.com interview.
Good morning. A busy day ahead as we'll certainly focus on the Yahoo management shuffle. The company hands an extended role to its Chief Financial Officer Susan Decker and several top execs will be leaving. Well start with our quote of the day from cartoonist Scott Adams...
Baby boomers who don’t want to retire to a distant locale (some place warmer or cheaper) may be causing a long-term drag on the U.S. housing sector – and the economy. According to a survey done by Home Depot – 89% of older Americans want to stay in their present houses for as long as possible. But companies like Home Depot are seeing a business opportunity in reaching out to boomers who want to stay put.
Well, they finally get it. The National Association of Realtors reports the largest national drop in median existing home prices ever in the month of October; prices down 3.5% across the board and even lower in certain regions of the country. And guess what? Sales bumped up for the first time since last February. What a shocker! Lower the price, and someone will buy your house.
It's the first key economic report of the week. The National Association of Realtors is out with its October report on pending home sales. CNBC’s Diana Olick keeps on top of the data and here’s what she had to say on “Morning Call.”
French cement giant Lafarge SA said Monday it will sell its roofing business to private equity firm PAI Partners for $3.16 billion.
ISM Manufacturing Data was released this morning. The index fell to 49.5 for November--down from 51.2 in October and signifying a contraction in U.S. manufacturing. Construction spending dropped by the most in five years in October--sliding 1 percent. Now eyes turn back to the Fed and how they'll react.
We're going to have the ISM numbers just as soon as they are released. The report-- from The Institute for Supply Management will probably show its manufacturing index for November was at 51.8. That compares with October's reading of 51.2-- which was the lowest since June 2003.
U.S. economic growth turns out to have been better in the third quarter than originally expected. But new home sales in October turned out to be a lot worse than expected. On Morning Call--CNBC’s Senior Economics Reporter Steve Liesman put the data in perspective.
Australian building materials maker Rinker Group formally rejected a $12 billion takeover bid by Mexico's Cemex on Wednesday as opportunistic, and said the company was worth nearly 40% more.