Core Points - STRABAG subsidiary ZÜBLIN has completed a new office building for Berlin Hyp in Berlin-Tiergarten, Germany, featuring 11 storeys and a gross floor area of 19,104m², designed to accommodate approximately 500 modern workspaces [1][2] - The building, named 'B-One', is designed to provide flexible workspace solutions and aims to achieve DGNB Platinum and Diamond certifications for energy efficiency [3][4] - The project incorporates sustainable features such as a geothermal system with 60 deep boreholes, photovoltaic elements, and advanced smart building technologies [4][5] Design and Features - The office building includes open-space areas, workshop and team rooms, quiet zones, a central Town Hall with a lounge area, and a cafeteria with terrace access [2][3] - The design was executed by Danish company C.F. Møller Architects, emphasizing modern architecture combined with sustainable construction [1][5] Project Management - BDP Real Estate acted as the client's representative, overseeing quality assurance and project management throughout the development phases [3] - The construction process utilized a comprehensive building information modelling approach for better planning and execution [4]

I think we can get to where you fit into the process of what is just massive infrastructure as a project, but that your reaction first to what's happening in the UK. It seems to be the next market in this cycle. Oh absolutely.I mean, when you think about how much potential there is in the UK, I think it is extremely exciting and very, very untapped. So I love to see companies like Microsoft and Google coming in and investing in the UK and the US and the UK actually working closer together. You say a lot of ...

Market Overview - The Dow Jones Industrial Average is up 280 points, approximately 0.61%, outperforming the S&P 500, which shows little change, while the NASDAQ composite is down about 0.33% [2] - The Russell 2000 index is also in the green, with discussions around potential value unlocking for small caps due to anticipated rate cuts [3] - The 10-year Treasury yield has decreased to 4.02%, marking a low not seen in some time [3] Federal Reserve Insights - The Federal Reserve's interest rate decision is highly anticipated, with expectations of a 25 basis point cut already priced in by the market [5][116] - Investors are closely monitoring Chair Jerome Powell's tone during the press conference, particularly regarding the Fed's outlook on labor and inflation [7][8] - There is speculation about potential dissents among Fed governors regarding the rate cut, especially from the newly confirmed Steven Myron [116][118] Company Developments - StubHub is set to go public after raising $800 million, with plans to enhance its profile and clean up its balance sheet post-IPO [40][41] - Apple is launching its new iPhone lineup, which includes significant design changes and improved battery life, with the standard iPhone 17 starting at $799 [58][63] - FedEx is facing a cautious outlook from analysts ahead of its earnings report, with a downgrade to inline from outperform due to slowing retail sales and industrial production [30] Analyst Calls - Loop Capital upgraded Netflix to buy, raising its price target to $1,350, citing strong engagement and content lineup [31] - Bank of America reiterated its buy rating for Walmart, increasing its price target to $125, highlighting growth opportunities in AI-driven e-commerce [32] Commodities and Economic Outlook - Deutsche Bank has raised its forecast for gold prices to $4,000 for next year, indicating a bullish outlook on the commodity [4] - There are concerns about potential inflation acceleration following rate cuts, although current long-term inflation expectations remain contained [12][25]

Group 1 - DEME has signed a contract for the reinforcement of the Lekdijk in the Netherlands [1] - The project involves collaboration with Heijmans and GMB in the Lekensemble consortium [1] - The reinforcement aims to protect hundreds of thousands of residents from high water as part of the Dutch Flood Protection Program [1]

Traffic Performance of VINCI Autoroutes - In August 2025, light vehicle traffic increased by 0.7% compared to August 2024, while heavy vehicle traffic decreased by 1.6% due to one fewer working day [4] - For the year-to-date (YTD) ending August 2025, overall traffic rose by 1.7%, with light vehicles up by 1.9% and heavy vehicles up by 0.3%, despite having three fewer working days than in 2024 [2][4] Traffic Performance of VINCI Airports - VINCI Airports experienced a 5.2% increase in passenger traffic in August 2025 compared to August 2024, contributing to a 4.6% increase over the summer period (July-August) [5][6] - Year-to-date passenger traffic at VINCI Airports rose by 5.8% by the end of August 2025, with notable increases in various regions, including a 15% rise in Japan and 11% in Cabo Verde [5][7] - The United States saw a significant decline in passenger traffic, with a decrease of 12% in August 2025 compared to the previous year [5]

Core Viewpoint - Aecon Group Inc. plans to release its third quarter 2025 financial results on October 29, 2025, after market close, with a live webcast and conference call scheduled for October 30, 2025, at 9 a.m. Eastern Time [1] Group 1 - The financial results will be available on the company's website after market close on October 29, 2025 [3] - A live webcast of the conference call can be accessed through a provided link, and participants must pre-register to receive dial-in details and a unique access code [2] - A replay of the conference call will be available within one hour after the live event [3] Group 2 - Aecon Group Inc. is a North American construction and infrastructure development company, offering integrated solutions across various sectors including Civil, Urban Transportation, Nuclear, Utility, and Industrial [4] - The company also provides project development, financing, investment, management, and operations and maintenance services through its Concessions segment [4]

Core Idea - The article emphasizes the investment philosophy of Thomas W. Phelps, particularly his book "100 to 1 in the Stock Market," which advocates for buying exceptional companies early, holding them with discipline, and allowing compounding to generate wealth [1][4][6]. Phelps's Investment Framework - Phelps's framework focuses on identifying companies with durable advantages, such as network effects, proprietary know-how, and advantageous cost structures [8]. - The importance of verifying a large addressable market that allows for long-term compounding without hitting a wall is highlighted [8]. - Present-tense profitability is essential; Phelps preferred companies that generate cash rather than speculative ventures [8]. - The article suggests buying companies when their narratives are still forming, favoring modest valuations over those priced for perfection [8]. - A strategy of doing less is recommended, as holding onto winning investments can lead to tax deferral and reduced errors [8]. Current Investment Candidates - The article lists 25 companies that fit Phelps's criteria, categorized by how they create competitive advantages rather than by index labels [9]. - Companies in the construction and infrastructure sector, such as EMCOR Group and Quanta Services, are noted for their execution capabilities and ability to convert backlog into cash [10][11]. - Precision manufacturers like Celestica and Fabrinet are recognized for their high returns on capital and asset-light models [12]. - In network infrastructure, Arista Networks and Super Micro Computer are highlighted for their strong positions in high-speed switching and AI hardware, respectively [13]. - Companies in the materials sector, such as Martin Marietta Materials, are noted for their pricing power and local monopolies [14]. - Engineering firms like WSP Global are recognized for their expertise and customer relationships in regulated markets [15]. - Consumer brands like e.l.f. Beauty and Academy Sports are mentioned for their market share growth and operational efficiency [16]. - Specialty finance companies like FirstCash and software firms like Agilysys are noted for their cash generation and growth potential [17]. - Internationally, utilities like Sabesp and fintechs like StoneCo are highlighted for their governance and profitability improvements [18]. - UK companies like Spectris and Halma are recognized for their consistent acquisition strategies and operational excellence [19]. Conclusion - The article concludes that the focus should be on finding real engines of growth and sizing investments appropriately to endure market volatility, allowing time to enhance value [22].

This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Pre-apprenticeship initiatives were critical pathways into skilled trade careers across Illinois in recent years, helping to address ongoing labor shortages in the construction industry. That’s according to a recently released study by the Illinois Economic Policy Institute. The report focused on Illinois’ two major pre-apprenticeship initiatives — the High ...

Germany's concrete road crossings are in a sorry state and require billions of investment, writes @chrismbryant (via @opinion) https://t.co/3gYcuaHGMP ...

Economic Impact of Tariffs - The implementation of tariffs is raising costs for U.S. businesses, which could lead to a reduction in GDP by approximately 0.5% in the long run [6][13] - The unpredictability of tariff rates creates chaos for businesses, making investments riskier and potentially leading to poor financial outcomes [7][8] - Tariffs are primarily affecting inputs into U.S. manufacturing, thereby increasing operational costs for companies [12][13] Labor Market and Immigration - The reduction of immigrant labor due to immigration policies is negatively impacting productivity and living standards for native-born workers [5][4] - The construction industry, heavily reliant on immigrant labor, is facing challenges that could further drive up housing costs [2][4] Auto Industry Dynamics - The North American auto industry is highly integrated, and tariffs on steel and aluminum are increasing production costs without effectively bringing manufacturing jobs back to the U.S. [15][16] - The pressure on manufacturers to automate due to rising costs may not translate into job creation for U.S. workers [16][17] Revenue Generation and Fiscal Policy - Tariffs function as a sales tax on imported goods, which could theoretically help reduce the deficit, but the actual revenue generated may not be substantial [19][20] - The potential increase in tariff rates could lead to higher revenue, but the effectiveness of this approach in addressing the deficit remains uncertain [21] Long-term Trade Relations - The current administration's approach to tariffs is likely to damage U.S. credibility in international trade agreements, making future negotiations more challenging [22][23] - The violation of established trade agreements could have lasting repercussions on the U.S.'s role in the global trading system [22][23]