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Construction Industry Looks to 2023

CFO News Room

As 2022 closes and 2023 begins, we spoke with the members of our senior sales team for the construction industry to get their thoughts on the challenges construction companies will face in the new year. construction industry challenges.

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Construction Industry Looks to 2023

Commercial Credit Group

As 2022 closes and 2023 begins, we spoke with the members of our senior sales team for the construction industry to get their thoughts on the challenges construction companies will face in the new year. Construction

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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.

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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.

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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.

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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.

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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.

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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.

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Reducing embodied carbon in new construction

McKinsey Public & Social Sector Insights

trillion in infrastructure spending needed per year until 2050 will go toward new construction—offering opportunities to fight climate change by reducing embodied emissions. Three-quarters of the $9.2

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The ERP Takes A Wrecking Ball To Construction Workflow Friction

PYMNTS

In the construction industry, the ERP is especially valuable considering the complex network of collaborators, and subsequent high volume of data, involved in a single project. According to Satran, there are three main roles the ERP plays for construction firms today.

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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

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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.

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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.

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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.

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Working to lower construction and logistic costs: Nitin Gadkari

CFO News

Speaking virtually at the 95th FICCI Annual Convention and AGM, he said, "We are trying to minimise use to cement and steel in construction work by adopting substitutes such as oil slag, waste plastic and rubber, and demolition waste among others.&

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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.

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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.

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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.

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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.

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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.

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As a construction company preparing our own financials, what general ledger accounts should we add?

Proformative

We are a construction company and would like to have a few questions answered re

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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.

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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.

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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.

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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.

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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

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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

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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.

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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.

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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
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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.

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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.

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On the path to net-zero steel in building and construction

McKinsey Public & Social Sector Insights

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. Voices Operations

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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.

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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.