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key uk contractor carillion denies rescue plan in doubt


image copyrightcarillionimage caption carillion is the uk's second largest construction firm and employs 43,000 people globally troubled construction firm carillion has denied reports lenders rejected a proposed rescue plan for the business.the firm, which is a key government contractor for projects including schools and prisons, said crunch talks with stakeholders were still ongoing.the firm is struggling under £1.5bn of debt, including a pension shortfall of £587m, raising fears about its future.ministers are drawing up plans to take over prisons contracts worth £200m from carillion, the bbc understands.reports that creditors had turned down a potential rescue plan sent the firm's shares down by more than 28% on friday. administrator firms pwc and ey were also reported to have been put o






key uk contractor carillion denies rescue plan in doubt


image copyrightcarillionimage caption carillion is the uk's second largest construction firm and employs 43,000 people globally troubled construction firm carillion has denied reports lenders rejected a proposed rescue plan for the business.the firm, which is a key government contractor for projects including schools and prisons, said crunch talks with stakeholders were still ongoing.the firm is struggling under £1.5bn of debt, including a pension shortfall of £587m, raising fears about its future.ministers are drawing up plans to take over prisons contracts worth £200m from carillion, the bbc understands.reports that creditors had turned down a potential rescue plan sent the firm's shares down by more than 28% on friday. administrator firms pwc and ey were also reported to have been put o






carillion: urgent talks on construction firm's future


image copyrightcarillionthe future of troubled engineering company carillion is being discussed at high-level government meetings this weekend, the bbc understands.the firm is a key government contractor for projects including the hs2 high speed rail scheme, schools and prisons.there are fears it is close to collapse as it struggles with £1.5bn of debt and a pension shortfall of £587m.on friday, carillion said it remained in constructive dialogue about short-term financing.the wolverhampton-based company is the uk's second largest in the construction sector and employs 43,000 people globally.in 2016 it had sales of £5.2bn and until july boasted a market capitalisation of almost £1bn. but since then its share price has plummeted and it is now valued at about £61m.the consultants ey have bee






carillion: 'matter of days' to stop collapse


image copyrightcarillionthe future of troubled engineering company carillion is being discussed at high-level government meetings this weekend, the bbc understands.the firm is a key government contractor for projects including the hs2 high-speed rail scheme, schools and prisons.sources say the firm has a "matter of days" as it teeters on the edge of collapse, with £1.5bn of debt including a pension shortfall of £587m.carillion is trying to reach an agreement with creditors.liberal democrat leader sir vince cable said the government must not bail out the struggling construction company, the second largest in the uk.sir vince, a former business secretary, told bbc breakfast: "they've got to force the shareholders and indeed the creditors, the big banks, to take losses, and then the governmen






carillion: 'matter of days' to stop collapse


image copyrightcarillionthe future of troubled engineering company carillion is being discussed at high-level government meetings this weekend, the bbc understands.the firm is a key government contractor for projects including the hs2 high-speed rail scheme, schools and prisons.sources say the firm has a "matter of days" as it teeters on the edge of collapse, with £1.5bn of debt including a pension shortfall of £587m.carillion is trying to reach an agreement with creditors.liberal democrat leader sir vince cable said the government must not bail out the struggling construction company, the second largest in the uk.sir vince, a former business secretary, told bbc breakfast: "they've got to force the shareholders and indeed the creditors, the big banks, to take losses, and then the governmen






carillion shares plunge after profit warning


image copyrighths2image caption carillion is part of a joint venture that is building parts of the hs2 rail link shares in carillion, the uk's second-biggest construction firm, fell 33% after it issued its third profit warning since july, adding it expected to breach financial covenants.the firm blamed slower asset sales and delays to a middle east project.carillion, which is in a consortium building part of the £56bn h2 high-speed rail link, said it was in talks on a potential recapitalisation.the news follows separate profit warnings issued in july and september.in its latest update, interim chief executive keith cochrane said: "whilst we continue to target cash collections, reduce costs, execute disposals and focus on delivering for our customers, it is clear that significant challenges






carillion: 'matter of days' to stop collapse


image copyrightcarillionthe future of troubled engineering company carillion is being discussed at high-level government meetings this weekend, the bbc understands.the firm is a key government contractor for projects including the hs2 high-speed rail scheme, schools and prisons.sources say the firm has a "matter of days" as it teeters on the edge of collapse, with £1.5bn of debt including a pension shortfall of £587m.carillion is trying to reach an agreement with creditors.liberal democrat leader sir vince cable said the government must not bail out the struggling construction company, the second largest in the uk.sir vince, a former business secretary, told bbc breakfast: "they've got to force the shareholders and indeed the creditors, the big banks, to take losses, and then the governmen






with saudi ties fraying, lebanese premier’s construction empire crumbles


saudi arabia is at the nexus of lebanese prime minister saad hariri’s two big problems: his precarious political future and the looming collapse of his construction empire, a business built on decades of support from the saudi royal family.saudi oger, a riyadh-based construction company wholly owned by the hariri family, closed operations across saudi arabia this summer after the saudi royal family slashed spending on lavish construction projects. the firm is now relying on the saudi government—its main client—to pay millions...






eu signals u.k. trade talks are still months away


brussels—the european union adopted its core negotiating positions for the coming brexit negotiations saturday, making it clear to britain that talks on a future trade agreement remain months away.eu leaders laid out their priorities for the talks, stressing that while they want to secure a close future relationship with britain, their first objective was to carve out a clear understanding on the divorce terms, including the future...






eu leaders show firm united front ahead of brexit talks


brussels (ap) — european union leaders vowed saturday to stand shoulder-to-shoulder behind their negotiating team during the divorce proceedings with britain and warned that demands from british prime minister theresa may will be dealt with “firmly.”the 27 eu leaders in brussels finalized the cornerstones of their negotiating stance within minutes of starting a short summit, a month after the british leader triggered two years of exit talks on march 29. the negotiations themselves are to open shortly after britain holds an early election on june 8.“guidelines adopted unanimously. eu27 firm and fair political mandate for the #brexit talks is ready,” eu council president donald tusk tweeted.the leaders say there can’t be any discussions on the future relationship between the eu and britain b






eu leaders show firm united front ahead of brexit talks


brussels — european union leaders vowed saturday to stand shoulder-to-shoulder behind their negotiating team during the divorce proceedings with britain and warned that demands from british prime minister theresa may will be dealt with "firmly."the 27 eu leaders in brussels finalized the cornerstones of their negotiating stance within minutes of starting a short summit, a month after the british leader triggered two years of exit talks on march 29. the negotiations themselves are to open shortly after britain holds an early election on june 8."guidelines adopted unanimously. eu27 firm and fair political mandate for the #brexit talks is ready," eu council president donald tusk tweeted.the leaders say there can't be any discussions on the future relationship between the eu and britain before






brexit: theresa may says 'important progress' made at eu summit


media playback is unsupported on your devicemedia captiontheresa may: we are in touching distance of a dealtheresa may has said "important progress" on brexit was made at last week's eu summit - but jeremy corbyn said it sounded like "groundhog day".the pm said she had a "degree of confidence" of making enough progress by december to begin trade talks.she also said there would be no "physical infrastructure" on the border in northern ireland.meanwhile, the eu commission president dismissed a german newspaper's account of his dinner with the pm."nothing is true in all of this," jean-claude juncker said, rejecting the article's claims mrs may "begged for help" when they met and seemed tired and politically weak.after five rounds of uk-eu talks, there has been no breakthrough in the first pha






eu signals u.k. trade talks are still months away


brussels—the european union adopted its core positions saturday for the coming brexit negotiations, making it clear to britain that talks on a future trade agreement remain months away. some eu leaders expressed frustration with the british government, saying london didn’t understand what it would take to resolve key divorce issues the bloc wants tackled before talks on the future relationship can begin. that suggests there...






david davis claims 'decisive steps forward' in brexit talks


media playback is unsupported on your devicemedia captiondavid davis and michel barnier on the state of talks"decisive steps forward" have been made in the latest round of uk-eu talks, brexit secretary david davis has said.mr davis was speaking at the end of the first talks since theresa may's speech in italy last week, in which she said the uk wanted a two-year transition.but eu negotiator michel barnier said there were still "big gaps" between the sides on some of the withdrawal issues.he said it could be "weeks or months" before they agreed to move to the next stage of talks about future relations.the uk is keen to start talking about what kind of trading relationship it will have with the eu after brexit, and the original aim had been to get the go-ahead for these discussions when eu l






david davis claims 'decisive steps forward' in brexit talks


media playback is unsupported on your devicemedia captiondavid davis and michel barnier on the state of talks"decisive steps forward" have been made in the latest round of uk-eu talks, brexit secretary david davis has said.mr davis was speaking at the end of the first talks since theresa may's speech in italy last week, in which she said the uk wanted a two-year transition.but eu negotiator michel barnier said there were still "big gaps" between the sides on some of the withdrawal issues.he said it could be "weeks or months" before they agreed to move to the next stage of talks about future relations.the uk is keen to start talking about what kind of trading relationship it will have with the eu after brexit, and the original aim had been to get the go-ahead for these discussions when eu l






david davis claims 'decisive steps forward' in brexit talks


media playback is unsupported on your devicemedia captiondavid davis and michel barnier on the state of talks"decisive steps forward" have been made in the latest round of uk-eu talks, brexit secretary david davis has said.mr davis was speaking at the end of the first talks since theresa may's speech in italy last week, in which she said the uk wanted a two-year transition.but eu negotiator michel barnier said there were still "big gaps" between the sides on some of the withdrawal issues.he said it could be "weeks or months" before they agreed to move to the next stage of talks about future relations.the uk is keen to start talking about what kind of trading relationship it will have with the eu after brexit, and the original aim had been to get the go-ahead for these discussions when eu l






panama to search law firm connected to odebrecht bribery case


panama city—panama’s attorney general ordered a search of offices belong to a law firm it has accused of setting up offshore accounts that allowed a brazilian construction company to funnel bribes to various countries. ramón fonseca mora, a partner in the mossack-fonseca firm, said thursday that the firm was being used as a scapegoat to avoid...






eu leaders agree united front ahead of brexit talks


brussels (ap) — european union leaders vowed on saturday to stand shoulder to shoulder behind their negotiating team during the divorce proceedings with britain and warned that any demands from prime minister theresa may will be dealt with “firmly.”the 27 eu leaders in brussels finalized the cornerstones of their negotiating stance within minutes of starting a short summit, a month after may triggered two years of exit talks on march 29. the negotiations themselves are to start shortly after snap elections in britain on june 8.“guidelines adopted unanimously. eu27 firm and fair political mandate for the #brexit talks is ready,” eu council president donald tusk tweeted.the guidelines point out there can be no discussions on a future relationship before some key issues like how much britain






eu leaders say they stand united ahead of brexit talks


brussels — european union leaders vowed on saturday to stand shoulder to shoulder behind their negotiating team during the divorce proceedings with britain and warned that any demands from prime minister theresa may will be dealt with "firmly."the 27 eu leaders in brussels finalized the cornerstones of their negotiating stance without much trouble during a short summit, a month after may triggered two years of exit talks on march 29. the negotiations themselves are to start shortly after snap elections in britain on june 8."guidelines adopted unanimously. eu27 firm and fair political mandate for the #brexit talks is ready," eu council president donald tusk tweeted.he insisted that there can be no discussions on a future relationship before some key issues like how much britain owes the blo






world trade center construction firm partner pleads guilty


new york (ap) — a prosecutor says a man with ties to the bonanno organized crime family and a secret partner in a world trade center construction firm has pleaded guilty to criminal charges.vincent vertuccio pleaded guilty wednesday in brooklyn federal court. acting u.s. attorney bridget rohde says the 61-year-old maspeth, new york, resident pleaded guilty to charges of conspiracy and making a false tax return. she says he also has agreed to pay over $1 million in restitution.prosecutors say vertuccio hid his control of a construction company when it was bidding to do work on the one world trade center project. they say he also hid his interest to hide taxable income he received from the construction company.vertuccio could face up to 20 years in prison when he is sentenced.most read stori






eu leaders agree united front ahead of brexit talks


brussels — european union leaders vowed on saturday to stand shoulder to shoulder behind their negotiating team during the divorce proceedings with britain and warned that any demands from prime minister theresa may will be dealt with "firmly."the 27 eu leaders in brussels finalized the cornerstones of their negotiating stance within minutes of starting a short summit, a month after may triggered two years of exit talks on march 29. the negotiations themselves are to start shortly after snap elections in britain on june 8."guidelines adopted unanimously. eu27 firm and fair political mandate for the #brexit talks is ready," eu council president donald tusk tweeted.the guidelines point out there can be no discussions on a future relationship before some key issues like how much britain owes






eu agrees to advance brexit talks to trade


brussels—european leaders agreed to advance brexit negotiations but called on u.k. prime minister theresa may to tell them quickly what her government wants from a future trade agreement so serious talks can start in march.a week after reaching an agreement on the terms of britain’s departure from the bloc, eu leaders decided friday to allow talks to progress to the bloc’s future relationship with the u.k. “today...






eu agrees to advance brexit talks to trade


brussels—european leaders agreed to advance brexit negotiations but called on u.k. prime minister theresa may to tell them quickly what her government wants from a future trade agreement so serious talks can start in march.a week after reaching an agreement on the terms of britain’s departure from the bloc, eu leaders decided friday afternoon to allow talks to progress to the bloc’s future relationship with the u.k. that...






brexit: eu-27 agree negotiating stance


image copyrightgetty imagesimage caption the leaders of the 27 remaining european union countries gathered in brussels eu leaders have unanimously agreed the negotiating guidelines for brexit talks with uk - in only a minute.european council president donald tusk, chairing the talks in brussels, tweeted that the "firm and fair political mandate" for the talks was ready.the 27 leaders - uk pm theresa may was not present - approved the the guidelines first issued on 31 march by mr tusk.talks with the uk will begin after the general election on 8 june.the deadline for completing the negotiations is 29 march 2019. european union officials said approval of the guidelines was completed in brussels within a minute. officials said leaders burst into applause as the negotiating stance was waved thr






eu leaders brainstorm ways to speed up brexit talks


brussels — european union leaders weighed on friday the meager progress in brexit negotiations as they searched for new ways to speed up the highly complex talks some 18 months before britain is due to leave.british prime minister theresa may urged her 27 eu partners to bring new momentum to the talks, even as an interim goal was missed to widen the talks from the more immediate divorce issues to future eu-u.k. relations and trade arrangements after britain leaves on march 29, 2019."the clear and urgent imperative must be that the dynamic you create enables us to move forward together," may told her counterparts overnight, according to a statement from her downing street office.despite the sense of urgency from both sides, and calls to accelerate the negotiations, they remain bogged down o






brexit: eu-27 agree 'firm' negotiating stance


image copyrightgetty imagesimage caption the leaders of the 27 remaining european union countries gathered in brussels european union leaders have unanimously agreed the negotiating guidelines for brexit talks with the uk. european council president donald tusk, chairing the talks in brussels, tweeted that the "firm and fair political mandate" for the talks was ready.the 27 leaders - uk pm theresa may was not present - approved within a minute the guidelines first issued on 31 march by mr tusk. talks with the uk will begin after the general election there on 8 june.the deadline for completing the negotiations is 29 march 2019. eu officials said leaders burst into applause as the negotiating stance was waved through. the eu's chief negotiator, michel barnier, said: "we are ready... we are t






u.s., israel conclude four days of talks


washington—the u.s. and israel concluded a round of talks aimed at getting israelis and palestinians to the negotiating table, the second such attempt as the trump administration makes a foray into the middle east peace process.the four days of talks focused on israeli-settlement construction and the economic environment in the west bank and gaza, according to u.s. and israeli officials, and are expected to continue. a joint...






construction slated for permanent housing for homeless in la grange


beds plusannemarie mannion / pioneer presstina rounds, executive director of beds plus, inc., talks about the construction of permanent housing for the homeless in la grange.tina rounds, executive director of beds plus, inc., talks about the construction of permanent housing for the homeless in la grange. (annemarie mannion / pioneer press)






how bassem hamdy aims to disrupt the construction industry


construction – the actual process of putting brick on brick to build something – is still in the dark ages. while there is plenty of technology out there to help plan massive projects few people are thinking hard about what it takes to actually build. luckily bassem hamdy is one the case.hamdy works for procore technologies where he and his team build products to help construction sites work more smoothly. he envisions a day when a lot of construction is done by robots and in this episode of technoptia we talk about what will happen when humans cede their place on the construction site to systems he and his competitors are building.technotopia is a podcast about a better future by john biggs. you can subscribe in stitcher or itunes and download the mp3 here.






brexit: eu-27 agree negotiating stance


image copyrightgetty imagesimage caption the leaders of the 27 remaining european union countries gathered in brussels european union leaders have unanimously agreed the negotiating guidelines for brexit talks with uk. european council president donald tusk, chairing the talks in brussels, tweeted that the "firm and fair political mandate" for the talks was ready.the 27 leaders - uk pm theresa may was not present - approved within a minute the the guidelines first issued on 31 march by mr tusk. talks with the uk will begin after the general election on 8 june.the deadline for completing the negotiations is 29 march 2019. eu officials said leaders burst into applause as the negotiating stance was waved through. the eu's chief negotiator, michel barnier, said: "we are ready... we are togethe






how bassem hamdy aims to disrupt the construction industry


construction – the actual process of putting brick on brick to build something – is still in the dark ages. while there is plenty of technology out there to help plan massive projects few people are thinking hard about what it takes to actually build. luckily bassem hamdy is one the case.hamdy works for procore technologies where he and his team build products to help construction sites work more smoothly. he envisions a day when a lot of construction is done by robots and in this episode of technotopia we talk about what will happen when humans cede their place on the construction site to systems he and his competitors are building.technotopia is a podcast about a better future by john biggs. you can subscribe in stitcher or itunes and download the mp3 here.






brexit: eu-27 agree negotiating stance


image copyrightgetty imagesimage caption the leaders of the 27 remaining european union countries gathered in brussels european union leaders have unanimously agreed the negotiating guidelines for brexit talks with uk. european council president donald tusk, chairing the talks in brussels, tweeted that the "firm and fair political mandate" for the talks was ready.the 27 leaders - uk pm theresa may was not present - approved within a minute the guidelines first issued on 31 march by mr tusk. talks with the uk will begin after the general election there on 8 june.the deadline for completing the negotiations is 29 march 2019. eu officials said leaders burst into applause as the negotiating stance was waved through. the eu's chief negotiator, michel barnier, said: "we are ready... we are toget






nassau to stop awarding contracts to indicted old bethpage firm


advertisement | advertise on newsday carlo lizza and sons construction equipment in old bethpage on april 8, 2015. (credit: newsday / audrey c. tiernan) nassau county will stop awarding contracts to carlo lizza & sons paving inc. following the indictment of the politically connected firm and its leaders on corruption charges related to the town of oyster bay.old bethpage-based lizza & sons, which has won tens of millions of dollars in resurfacing work in recent years, will be ineligible to bid on future pacts, “unless they are acquitted...






theresa may to meet eu business leaders


image copyrightgetty imageseuropean business leaders will meet prime minister theresa may later on monday to voice concerns about the future of uk-eu trade.experts from groups including the cbi and businesseurope will stress the need for a transitional deal that preserves the status quo after brexit.they will urge the government to clarify the future relationship between the uk and the rest of the eu.the next round of brexit talks is due to start in mid-december.they will meet mrs may at no 10, as well as business secretary greg clark, brexit secretary david davis and economic secretary to the treasury stephen barclay.the cbi and the institute of directors will be represented, as will business organisations from france, germany, spain, italy, the netherlands, ireland, sweden, poland, the c






eu agrees to advance brexit talks to trade


brussels—european leaders agreed to advance brexit negotiations but called on u.k. prime minister theresa may to tell them quickly what her government wants from a future trade agreement for serious talks to start in march.a week after reaching an agreement on the terms of britain’s departure from the bloc, eu leaders decided friday to allow talks to progress to the bloc’s future relationship with the u.k. european council president donald tusk tweeted the news, adding “congratulations theresa may.”...






san jose's alum rock construction firm responds to audit


san jose — in response to a state audit criticizing its billing and construction in the alum rock union school district, del terra real estate claims that it did indeed respond to auditors’ request for information — just not directly.the southern california-based construction management firm wrote that it provided documents to the alum rock district, which del terra said did not pass on the company’s information to investigators. furthermore, del terra’s attorney wrote that the company sought to meet with alum rock superintendent hilaria bauer, but was rebuffed.president and ceo luis rojas wrote that he was “surprised and disappointed” at the findings of the state’s  fiscal crisis and management assistance team, and that the report’s characterization of his firm as uncooperative and unresp






kurdish family headed to nashville sent back to iraq


fuad suleman, center, with his wife and three children arrive back in erbil, iraq, after officials at cairo international airport told the family they could not continue on a connecting flight to new york's jfk airport on their way to nashville jan. 28, 2017. instead, they were sent back to iraq.(p o: submitted)nashville — a kurdish family of five on their way to nashville were stopped in cairo before they could board their connecting flight urday after president trump ordered a travel ban targeting several muslim-majority countries.fuad sharef suleman, his wife, arazoo ibrahim, and their three children were escorted from cairo international airport back to iraq, even though they had valid visas to enter the united states.suleman called the executive order an act of racism and discriminati