Construction

Office of the Governor | ICYMI: U.S. Department of Commerce Invests $960,000 to Support Construction Business Development in Newark, New Jersey

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Office of the Governor | ICYMI: U.S. Department of Commerce Invests $960,000 to Support Construction Business Development in Newark, New Jersey

WASHINGTON – Today, the U.S. Department of Commerce’s Economic Development Administration (EDA) is awarding a $960,000 grant to The Enterprise Center in Philadelphia, Pennsylvania, to establish the Infrastructure Innovations and Business Opportunities Center in Newark, New Jersey. This grant will connect socially and economically disadvantaged contractors and businesses to large-scale infrastructure projects in the region. … Read more

State-of-the-art building for lone soldiers breaks ground in Israel | JNS

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State-of-the-art building for lone soldiers breaks ground in Israel | JNS

The first state-of-the-art lone soldier home—funded by Friends of the Israel Defense Forces (FIDF), the International Fellowship of Christians and Jews (IFCJ), and Ha’aguda Lema’an Hachayal (the Association for Israel’s Soldiers)—was commemorated during a Sept. 7 ground-breaking in Israel. The eight-story apartment building in Rishon Letzion, in central Israel, features 56 apartments; an open-space glass-ceiling atrium; a … Read more

Summit Materials to combine with Cementos Argos’ U.S. business in a cash and stock deal valued at about $3.2 billion

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Summit Materials to combine with Cementos Argos’ U.S. business in a cash and stock deal valued at about $3.2 billion

Published: Sept. 7, 2023 at 7:38 a.m. ET Shares of Summit Materials Inc. SUM rallied 2.4% in premarket trading Thursday, after the cement maker announced an agreement to combine with Argos North America Corp. (Argos USA), the U.S. operations of Colombia-based Cementos Argos S.A. CMTOY CO:CEMARGOS in a cash and stock deal valued at about … Read more

Evergrande Stock Fall 87% in Hong Kong After Trading Resumes, Reporting Loss

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Evergrande Stock Fall 87% in Hong Kong After Trading Resumes, Reporting Loss

China Evergrande Group slumped as much as 87% in Hong Kong trading following a 17-month halt, becoming a penny stock as the country’s most-indebted developer unveiled more losses and delayed meetings with creditors. The decline to HK$0.35 as of the lunch break on Monday shrank its market value to just HK$4.6 billion ($586 million) from … Read more

Huawei Building Secret Chip Plants in China to Bypass US Sanctions, Group Warns

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Huawei Building Secret Chip Plants in China to Bypass US Sanctions, Group Warns

The leading association of global chip companies is warning that Huawei Technologies Co. is building a collection of secret semiconductor-fabrication facilities across China, a shadow manufacturing network that would let the blacklisted company skirt US sanctions and further the nation’s technology ambitions. Huawei, a controversial telecommunications gear maker at the heart of US-China tensions, moved … Read more

Record heat incoming! How outdoor workers are preparing

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Record heat incoming! How outdoor workers are preparing

FOND DU LAC (NBC 26) — Fond du Lac is one of many neighborhoods in northeast Wisconsin that will be under an excessive heat warning on Wednesday. City officials and construction workers are preparing to face some of the hottest temperatures in years. These workers spend all day outside facing the elements year ‘round. And … Read more

Latest on China’s Economy: What Xi Jinping Is Really Doing and Why

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Latest on China’s Economy: What Xi Jinping Is Really Doing and Why

Xi Jinping’s quest to rewrite the playbook that drove China’s economic miracle for a generation is facing its sternest test yet. The $18 trillion economy is decelerating, the property crisis deepening, consumers are downbeat, exports are struggling and more than one in five young people are out of work. But where President Joe Biden is … Read more

VinFast Stock Is Dropping. The EV Maker’s Shares Are Too Expensive.

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VinFast Stock Is Dropping. The EV Maker’s Shares Are Too Expensive.

After an epic first day of trading on the Nasdaq, VinFast (ticker: VFS) closed at $37.06, up 255%, giving the EV start-up a market capitalization of roughly $86 billion. That’s more than the market cap of Ford Motor (F), General Motors (GM), Volkswagen (VOW3.Germany), and BMW (BMW.Germany). It’s even more than Hyundai Motor (005830.Korea) and … Read more

China Property: Country Garden Is Where a Default Would Make Sense

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China Property: Country Garden Is Where a Default Would Make Sense

Default is a taboo most companies are keen to avoid. But sometimes, business operations demand it. Even the bond investors don’t mind. Country Garden Holdings Co., once China’s biggest real-estate developer by sales, is walking a tightrope. A scrapped share placement last week fueled concerns whether the company has enough money to repay its dollar … Read more