Latest News

  • Bulgaria's MPs are to abandon the current National Assembly to relocate to the former Bulgarian Communist Party headquarters, commonly known as the Party House, where they will host their plenary sessions in a large glass hall. Plans are for the move to happen in the next two to three years.Gradski Daily reported that Belgian technical director of the Flemish parliament, Kurt de Vriend, said that...
  • The $497 million needed to construct the long-delayed Fulton Street Transit Center will be paid entirely through President Obama's economic stimulus package, MTA officials said today.The project calls for a 12-subway hub with an above-ground, glass-covered pavilion to replace the current maze of loosely-linked stations.The original designs of the above-ground glass structure called for an oculus...
  •  Vitro SAB, Mexico’s largest glassmaker, said it will miss $44.8 million in interest payments due next week on $1 billion of bonds to preserve cash to run its operations.Four counterparties to Vitro’s derivative investments provided notice of default, the company said in a statement to the Securities and Exchange Commission today, prompting Vitro to announce it will skip the two...
  • During a Jan. 27 Webinar, two leading construction economists answered the question, “Have we hit bottom?” Jim Haughey, chief economist for Reed Construction Data, forecasted the U.S. economy will hit bottom in late summer or early fall of 2009.

  • General Motors Corp.'s "jobs bank" program will end Monday, following a similar move at Chrysler LLC that helps satisfy the conditions the government imposed when it lent the automakers $17.4 billion late last year.The program gives union workers at the Detroit Three most of their pay and benefits while they are laid off — sometimes for years. It was the target of much ire during...
  • Japan's Nippon Sheet Glass said on Thursday it would cut 5,800 employees, or about 15 percent of its global work force, by March 2010.Read a company release on revised forecast for FY2009.
  • A crisis of confidence has struck chief executives round the world, according to a survey presented in Davos that captures the chastened mood and changed priorities of business on the eve of one of the most anticipated gatherings of the World Economic Forum.Just 21 percent of the 1,100 executives interviewed by PwC across 50 countries were very confident that their revenues would increase this...
  • The Glass Association of North America, Topeka, Kan., elected Tracy Rogers, technical director, Edgetech IG, Cambridge, Ohio, as chair of its Insulating Division, according to a Jan. 28 GANA release. The division comprises insulating glass unit manufacturers and suppliers.Rogers brings more than two decades of experience and knowledge of the fenestration industry to the position. While...
  • U.S. car giant General Motors Corp. said Tuesday it is cutting production in Russia as demand declines in a market only recently described as potentially the largest in Europe. The cuts affect GM's new plant outside St. Petersburg and its venture with Russian manufacturer AvtoVAZ in Togliatti. GM's Chevrolet is the best-selling foreign brand in Russia. In St. Petersburg, GM will slash the working...
  • Chemical maker DuPont Co. reported a $629 million loss for the fourth-quarter Tuesday due to lower sales and a hefty restructuring charge, and cut its earnings forecast for 2009.The Wilmington-based company said its loss for the quarter amounted to 70 cents per share, compared with a profit of $545 million, or 60 cents per share, a year ago. Excluding a charge of $380 million, or 42 cents per...
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