Highway construction during April-February lowest in four years

CFO News Room

The pace of highway construction fell to a four-year low of 24 km/day during the April-February period of the current fiscal. In the whole of 2020-21, highway construction had hit an all-time high of 36.5 highways in the entire 2021-22, up from 13,327 km constructed in 2020-21.

Highway construction pace to be 38 km a day over next 25 months

CFO News Room

“The balance length of about 28,391 km is planned to be constructed in the remaining period from March 2022 to the end of the financial year 2023-24,” Gadkari said. Of the target, 31,609 km has been constructed up to February this year at a daily average of a little over 30 km.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Home Construction Falls Again in May

CFO News Room

Total housing starts fell to a 1.549 million annual rate in May from a 1.810 million pace in April, a 14.4 percent plunge. From a year ago, total starts are down 3.3 percent. Total housing permits also fell in May, posting a 7.0 percent drop to 1.695 million versus 1.823 million in April.

Bridging the labor mismatch in US construction

McKinsey

US construction projects are short-staffed today, and the problem is set to get worse. Insights on Operations Engineering & Construction Operations Labor marketsHere’s what the sector can do to close the gap.

Single-Family Home Construction Retreat Continued in June

CFO News Room

Total housing starts fell to a 1.559 million annual rate in June from a 1.591 million pace in May, a 2.0 percent drop. From a year ago, total starts are down 6.3 percent. Total housing permits also fell in June, posting a 0.6 percent drop to 1.685 million versus 1.695 million in May.

Biden Administration Pushes for Higher Construction-Worker Pay

CFO News Room

The Biden administration is proposing changes designed to push up wages for workers at federally-funded construction projects such as interstates. Under the law, federal contractors must pay the same wage that local workers get for similar types of construction work.

Why Companies Are Holding Tight to Workers, Despite Economic Slowdown

CFO News Room

CFO News Building Construction Construction Economic News economic performance Economic Performance/Indicators employment Employment/Unemployment Figures Federal Reserve gfx-contrib indicators leder photo-commission Real Estate Real Estate/Construction Residential Building Construction SYND unemployment figures WSJ-PRO-WSJ.com wsjwashingtonSarah Chaney Cambon. 29, 2022 11:06 am ET. Listen to article. (2 2 minutes). A persistent economic puzzle is why.

Centsoft Unveils AP Automation For Construction Industry

PYMNTS

To help project managers and administrators save time, Centsoft has unveiled an accounts payable (AP) automation technology for firms in the construction industry. B2B Payments accounts payable AP automation B2B Centsoft construction invoice automation News What's Hot In B2B

Fall 2021 | M&A Report In The Engineering and Construction Industry Sector

Corporate Finance Associates

The report below gives a good overview of the Fall 2021 M&A activity in the Engineering and Construction Industry Sector. In 2020, the worldwide construction market declined from USD 11.21 Read the Entire Fall 2021 Engineering and Construction Report Here.

Manchin’s Permitting Bill Has a Poison Pill

CFO News Room

The Senate may vote as early as Tuesday on Joe Manchin’s permitting reform bill, and the West Virginian says Republicans should accept incremental progress rather than nothing. But the main problem isn’t that his changes are too modest, though they are. Some of them would do tangible harm to U.S. energy security and constitutional federalism. Though it’s received little attention, one section would rewrite how transmission lines are permitted, and not for the better.

Construction, manufacturing and retail account for 40% of administrations

Accountancy Today

Data from The Gazette Official Public Record revealed construction, manufacturing and retail were the sectors that accounted for almost 40% of administrations in 2022.

FCF European Infrastructure & Construction Market Study 2021 – published

Fox Corporate Finance

FCF Fox Corporate Finance GmbH is delighted to publish the new “FCF European Infrastructure & Construction Market Study – 2021”. Based on available data from European infrastructure and construction companies, the FCF Infrastructure & Construction.

Elon Musk Opens Tesla’s First European Factory

CFO News Room

BERLIN—Elon Musk formally kicked off customer deliveries at Tesla Inc.’s s first European factory outside Berlin, marking a milestone in the electric-car maker’s international expansion.

Biden Administration Targets Housing Supply Shortage

CFO News Room

The regulatory moves are technical and modest, though the administration hopes they will collectively dent the housing shortage of millions of U.S. homes over the coming years. Source link.

Sage Automates Construction Finance Benchmarking

PYMNTS

Business management technology provider Sage is rolling out a new solution designed to help construction firms track the health of company finances and compare performance against industry peers. In a press release issued on Monday (April 22), Sage announced an integration between its Sage 300 Construction Real Estate platform and a benchmarking tool that is widely used in the industry.

In Battle for Workers, Companies Build Houses

CFO News Room

Disney, meatpacker JBS and others are launching plans to add affordable housing near job sites. A Vail, Colo., project is drawing opposition. Source link.

China’s New Home Prices Fall for the First Time in More Than Six Years

CFO News Room

BEIJING—A monthly measure of new home prices in China fell for the first time in more than six years, offering further evidence of the pain that Beijing’s regulatory campaign is inflicting on a sector that has long served as an economic growth engine.

Net-zero steel in building and construction: The way forward

McKinsey

Rising demand for greener approaches creates an imperative for the industry to seize the moment, adopt new mindsets, and set standards for the transition to a greener future. Insights on Sustainability Steel Resource productivity

Goldman-Backed Construction FinTech Rabbet Raises $8M

PYMNTS

Rabbet, an intelligent construction finance platform, announced Wednesday (Feb. With the support of Goldman Sachs , QED and Camber Creek, Rabbet will further its mission to bring frictionless transactions to the construction industry,” Rabbet CEO and Co-Founder Will Mitchell said in the press release. Our name represents our commitment to strengthening connections in the real estate industry and fueling today’s connected construction economy.

Stock Futures Hover After Tech Rally

CFO News Room

stock futures were flat after Wall Street indexes closed higher , led by a rally in technology shares. S&P 500 futures traded mostly flat and futures tied to the Dow Jones Industrial Average fell 0.1%. Changes in equity futures don’t necessarily predict market moves after the opening bell.

Japan Revives Nuclear Power – WSJ

CFO News Room

Financial Advisor C&E Executive News Filter commentaries Commentaries/Opinions Construction Content Types Electric Power Generation Electric Utilities electricity Electricity/Gas Utilities Energy Factiva Filters Fumio Kishida gas utilities Heavy Construction Nuclear Power Generation opinions Power Station Construction Real Estate Real Estate/Construction SYND Utilities WSJ-PRO-WSJ.com

China’s Housing Market Needs More Than Talk From Beijing

CFO News Room

It took only some positive comments from Beijing for Chinese stock markets to go from gloom to euphoria in a single day. Turning around the sluggish housing market might require more time and much more concrete measures.

U.S. Home Prices Hit Record in April

CFO News Room

The median U.S. home price climbed to a record of $391,200 in April, but the number of sales fell as high prices and rising interest rates pushed more buyers out of the market. The U.S.

Lowe’s First-Quarter Sales Drop After Unseasonably Cold April

CFO News Room

Marvin Ellison Real Estate Real Estate Markets Real Estate/Construction Residential Building Construction Retail Retail/Wholesale Sales Figures Specialty Retailing SYND wholesale WSJ-PRO-WSJ.com

Sales 130

Mortgage Rates Will Rain on This House Party

CFO News Room

There is reason to believe that America’s housing market will be able to weather rising interest rates. That doesn’t mean that higher borrowing costs can’t blow a few shingles off. The National Association of Realtors on Friday reported that 6.5

Home Construction Rebounds In May, But Trouble Lingers

PYMNTS

home construction collapsed in March, the sector rebounded in May after steep declines caused by COVID-19 shutdowns, according to the U.S. Economy economy home construction NAHB News What's Hot ZillowFor the first time since U.S.

Raise Residential Taxes? Bring in Casinos? Cities Look at Ways to Bolster Budgets

CFO News Room

Many U.S. cities were enjoying strong growth in the years leading up to the pandemic, with rents, hotel bookings, sale prices and tax collections rising as urban centers became popular with young workers and the businesses that wanted to hire them.

Construction Payments: Building The House With Virtual Cards

PYMNTS

Keeping Construction Payments Fraud-Free. trillion construction market can have long-ranging effects. Cash flow problems can result in construction firms delaying payments to vendors, suppliers or subcontractors, which in turn can result in late delivery of supplies, therefore delaying projects from the beginning. In today’s highly interconnected ecosystem, businesses rely on many other companies to keep their operations running smoothly.

Finding The Right Incentives For Faster B2B Construction Payments

PYMNTS

construction giant Carillion collapsed, but the saga continues to send shockwaves throughout the global construction industry. Small businesses are the fabric of the construction industry,” he said. Nearly two years have passed since U.K.

China Faces Growing Pressure to Address Mortgage Protests

CFO News Room

A mortgage protest persisted in bubbling up in China on Wednesday, adding pressure on Chinese authorities to directly address growing discontent among home buyers who have plowed their savings into apartments that haven’t been completed. About 200 people gathered in front of the Hubei office of China’s banking and insurance regulator while uniformed security personnel stood nearby to maintain order.

China Seeks to Quell Mortgage Revolt Among Frustrated Home Buyers

CFO News Room

Authorities in China moved to quash a revolt among homeowners who have threatened to renege on mortgages on unfinished properties, censoring social-media posts and telling banks to keep money flowing to developers that are trying to make good on their promises to deliver homes to buyers.

They Signed Contracts for Their Dream Homes Last Year. Now Their Borrowing Costs Are Ballooning.

CFO News Room

People who agreed to buy homes under construction but haven’t yet closed are facing mortgage-interest rates that could be nearly double what they anticipated when they paid their deposits. They paid deposits to a builder in September and October and expected construction to start in January.

China Property Market Shudders as Buyers Threaten to Stop Mortgage Payments

CFO News Room

By Cao Li and Rebecca Feng. July 14, 2022 10:48 am ET. Global investors and home buyers in China are losing confidence in the country’s property market, which has entered a new stage of turmoil after a year-long slide in sales, stalled projects and mounting real-estate developer defaults. This week, a movement among frustrated homeowners who have threatened to stop paying their mortgages on unfinished homes quickly gathered steam on Chinese social media.

More Supply-Chain Disruptions Are Coming

CFO News Room

Things look as if they’re almost back to normal at the West Coast ports at the heart of the great supply-chain disruption that began rolling across the U.S. last year. But a new wave of disruption might soon come crashing down. While the ill effects of Covid have dissipated, the ports’ increasing need for automation to stay competitive has sharpened the labor strife that has long afflicted them.

Empty Wall Street Offices to Be Revived as Apartments

CFO News Room

A venture of two New York developers has purchased a one-third empty office building in the city’s financial district with plans to convert it into apartments , one of the largest such conversion schemes to be launched during the pandemic. The venture, which includes Silverstein Properties and Metro Loft, has agreed to pay $180 million for the 30-story building that opened in 1967 and has housed numerous technology and financial-services tenants over the decades.