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The Indian Rupee declines to near 88.45 against the US Dollar due to multiple headwinds. US tariffs and FIIs’ outflow continue to weigh on the Indian Rupee. Investors await the release of India’s Q2 GDP and the US PCE inflation data for July. The Indian Rupee (INR) posts a fresh all-time low against the US Dollar (USD) on Friday. The USD/INR surges to near 88.45 as higher tariffs imposed by the United States (US) on imports from India, and the consistent outflow of foreign funds from the Indian stock market have remained major drags on the Indian Rupee. Earlier this week, Washington confirmed additional 25% tariffs on India for buying Russian Oil, which took the overall import duty to 50%, a move that has weakened the competitiveness of Indian products in the global market. The monthly bulletin released by the Reserve Bank of India (RBI) on Thursday also showed that US tariffs pose downside economic risks in the near term. However, the domestic consumption remained resilient, and a strong demand is coming from rural areas. Meanwhile, Foreign Institutional Investors (FIIs) have extended their selling in Indian equity markets for the fourth trading day on Thursday and pared stake worth Rs. 3,856.51 crores. So far in August, FIIs have timed stake by Rs. 38,590.26 crores. The outflow of overseas funds has also weighed on Indian benchmark indices. Nifty50 is down Meanwhile, India’s Q2 Gross Domestic Product (GDP) data has come in surprisingly stronger than expected. The Ministry of Statistics reported that the Indian economy expanded at a robust pace of 7.8% on an annualized basis. Economists expected the Indian economy to have grown at a slower pace of 6.6%, compared to a 7.4% increase seen in the first quarter. The table below shows the percentage change of Indian Rupee (INR) against listed major currencies today. Indian Rupee was the weakest against the Australian Dollar. USD EUR GBP JPY CAD AUD INR CHF USD 0.03% 0.26% 0.10% 0.00% -0.05% 0.79% -0.07% EUR -0.03% 0.23% 0.05% -0.03% -0.03% 0.78% -0.12% GBP -0.26% -0.23% -0.20% -0.26% -0.27% 0.54% -0.35% JPY -0.10% -0.05% 0.20% -0.03% -0.17% 0.75% -0.10% CAD -0.00% 0.03% 0.26% 0.03% -0.08% 0.81% -0.09% AUD 0.05% 0.03% 0.27% 0.17% 0.08% 0.88% -0.09% INR -0.79% -0.78% -0.54% -0.75% -0.81% -0.88% -0.82% CHF 0.07% 0.12% 0.35% 0.10% 0.09% 0.09% 0.82% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Indian Rupee from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent INR (base)/USD (quote). Daily digest market movers: US Dollar trades calmly ahead of US PCE inflation data A strong upside move in the USD/INR pair appears to be seldom contributed by weakness in the Indian Rupee as the US Dollar trades flat ahead of the US Personal Consumption Expenditure Price Index (PCE) data for July, which will be published at 12:30 GMT. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, consolidates near 98.00. Investors will pay close attention to the US PCE inflation data as it will influence market expectations for the Federal Reserve’s (Fed) monetary policy outlook. Economists expect the US core PCE inflation, which is the Fed’s preferred inflation gauge, to have risen at a faster pace of 2.9% on year against 2.8% in June, with the monthly figure rising steadily by 0.3%. Signs of price pressures cooling would allow traders to raise bets supporting interest rate cuts by the Federal Reserve (Fed) for the September policy meeting. On the contrary, inflation rising faster than projected would weaken the same. According to the CME FedWatch tool, there is an 85% chance that the Fed will reduce interest rates by 25 basis points (bps) to 4.00%-4.25% in the policy meeting in September. On Thursday, Fed Governor Christopher Waller explicitly announced that he would support a 25-bps interest rate cut in the policy meeting next month, and added that there will be more cuts in the next three to six months. “The time has come to move policy to a more neutral stance,” Waller said. The reasoning behind Waller’s dovish remarks is weakening labor market conditions, which he warned that it could deteriorate further and quickly. Meanwhile, the safe-haven appeal of the US Dollar is under threat as Fed Governor Lisa Cook filed a lawsuit on Thursday for her termination by US President Donald Trump over mortgage allegations. According to a report from Reuters, a hearing on the motion is set for 14:00 GMT on Friday. The verdict by the court against Trump could dampen the credibility of the White House. Market experts have already seen the event as Trump’s attempt to politicize the Fed. Technical Analysis: USD/INR sees more upside towards 89.00 The USD/INR pair climbs to near 88.45 on Friday, the highest level seen in history. The near-term trend of the pair is bullish as it holds above the 20-day Exponential Moving Average (EMA), which trades near 87.52. The 14-day Relative Strength Index (RSI) rises above 60.00. A fresh bullish momentum would emerge if the RSI holds above that level. Looking down, the 20-day EMA will act as key support for the major. On the upside, the round figure of 89.00 will be a critical hurdle for the pair. Economic Indicator Core Personal Consumption Expenditures – Price Index (YoY) The Core Personal Consumption Expenditures (PCE), released by the US Bureau of Economic Analysis on a monthly basis, measures the changes in the prices of goods and services purchased by consumers in the United States (US). The PCE Price Index is also the Federal Reserve’s (Fed) preferred gauge of inflation. The YoY reading compares the prices of goods in the reference month to the same month a year earlier. The core reading excludes the so-called more volatile food and energy components

Affirm Holdings (AFRM) reported $876.42 million in revenue for the quarter ended June 2025, representing a year-over-year increase of 33%. EPS of $0.20 for the same period compares to -$0.14 a year ago. The reported revenue represents a surprise of +4.35% over the Zacks Consensus Estimate of $839.88 million. With the consensus EPS estimate being $0.11, the EPS surprise was +81.82%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock’s price performance more accurately. Here is how Affirm Holdings performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Gross Merchandise Volume (GMV): $10357 billion versus the four-analyst average estimate of $9577.07 billion. Transactions per Active Consumer: 6 versus the three-analyst average estimate of 6. Active Consumers: 23 compared to the 22 average estimate based on three analysts. Revenue- Merchant network: $239.45 million compared to the $234.97 million average estimate based on six analysts. The reported number represents a change of +32.3% year over year. Revenue- Card network: $67.11 million versus the six-analyst average estimate of $59.11 million. The reported number represents a year-over-year change of +56.2%. Revenue- Interest income: $419.09 million compared to the $416.13 million average estimate based on six analysts. The reported number represents a change of +24.1% year over year. Revenue- Servicing income: $33.88 million versus the six-analyst average estimate of $33.77 million. The reported number represents a year-over-year change of +22.8%. Revenue- Gain on sales of loans: $116.88 million versus $90.96 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +67% change. Shares of Affirm Holdings have returned +15.1% over the past month versus the Zacks S&P 500 composite’s +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Download 7 Best Stocks for the Next 30 Days. Click to get this free report Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed. Read More

When your Cat® equipment needs a replacement part, you’ll want to get your machine back up and running with minimal impact on your business. At the same time, you have to consider the long-term reliability of your machines. Choosing between new and used Cat parts can be a tough decision, but each option has unique considerations. Explore the pros and cons of new Cat parts and used parts so you can make an informed decision. At Gregory Poole Equipment Company, we offer a diverse range of new and used Cat parts to suit your needs.  The Advantages of Buying New Cat® Parts There are many advantages to buying brand-new Cat parts, including:  Correct fit: Genuine original equipment manufacturer (OEM) Cat parts fit your machine seamlessly and work as they should. This means you save time getting the right-fitting part the first time, which performs as efficiently as you’d expect.  Longevity: It can be cost-effective to invest in a brand-new part due to its long lifespan. This keeps your business moving forward with minimal downtime as you don’t have to replace that part in the near future. Zero wear: With no wear or tear, new Cat parts ensure your machine can run at maximum performance for the task at hand. Tested: Each piece of new Cat equipment is made to a high specification with quality materials and tested for quality.  New technology: New parts are built with the latest technology, which can upgrade your machine and help it deliver excellent performance. OEM Cat Parts vs. New Aftermarket Alternatives It is important to note that new OEM Cat parts are different from new aftermarket parts. While it may seem more cost-effective to buy cheaper aftermarket parts, the quality of those parts is not guaranteed, as they may not have been put through the same rigorous tests. This means that many of the advantages of buying new in the first place may be reduced. Check those aftermarket options carefully and opt for new or used OEM parts for optimal performance and reliability. The Advantages of Buying Used Cat Parts For tighter budgets, used Cat parts could provide a good option to keep your machines running. The advantages include: Cost-effective: Used Cat parts can reduce the outlay of replacing a part while keeping your equipment running at high performance. This can free up resources for you to reinvest where you need to make the most progress in your operations. Right fit: When you buy used Cat parts from a trusted dealer, you can use their online catalogue system to make sure your replacement part is the right fit. Available: Used parts are readily available and often have minimal lead times. This increases your machine’s uptime by getting you back in action more quickly.  Reliable: Used Cat parts are reliable, especially when you buy Cat Certified Used (CCU) equipment, as this is selected, inspected and serviced to a high standard. CCU parts undergo a 140-point inspection and come with a documented service history so you have full assurance.  All hardware included: When using a used part to replace a major component like an engine or transmission, these parts often come with any hardware you’d need to replace your original part. This means you save time and resources from purchasing the hardware or fastener kits separately.  Key Decision Factors — Cost, Uptime, and Application Choosing between new and used Cat parts requires a careful balance of cost-effectiveness, uptime, and consideration of the application that your replacement part will support. At the bottom line, cost-effectiveness may ultimately drive your decision. Your budget will determine how much you can spend on new or used Cat parts. New Cat parts have a high initial cost but come with the latest technology, zero wear, and a long service life. Old Cat parts are a cost-effective way of quickly finding a reliable, quality replacement part to keep your business moving.  Uptime may also affect your decision. When sourcing a replacement, used Cat parts can be helpful when new parts are no longer manufactured or are hard to find. This means you can get your machines running again with minimal delay. The long life of a new Cat part offers the benefit of peace of mind that you can complete your job with a rigorously tested new part installed. Also consider how you will use the Cat equipment you are repairing or preparing replacement parts for. For heavier applications, you may need the most durable, long-lasting parts to save time on repairs or servicing. For lighter jobs, you may just need a reliable part that performs well.  How to Choose the Right Part for Your Needs Making the right choice when buying a new or used part is entirely down to your business’s priorities. Decide what matters most to you when it comes to making the biggest positive impact in your business operations, whether that’s initial cost, length of service, or level of performance. Choosing between new and used Cat parts isn’t a decision about which is superior overall. There are many shared benefits between new and old Cat parts, like reliability and correct fit.  Your search for the right part for your needs will require some research. Get quotes for both new and old parts so you can make the right call. Also, reach out to experts who can answer any questions about your specific application needs. You may be able to learn more about how long a particular part is expected to last, for example. Whatever your choice, new or old, check that parts are genuine before purchasing them. With genuine Cat parts from trusted dealers, you can rely on the replacements for their quality and performance, with a warranty to back that up. Replacing your machine’s part with an aftermarket part may be less cost-effective in the long run if you’re having to replace those parts earlier than an OEM replacement. Get Reliable New or Used Cat Parts From Gregory Poole When your Cat machine needs servicing and requires a replacement part, your main priority is getting it back online. But a few key factors,

When investing in heavy equipment, it’s easy to focus solely on the upfront cost. However, equipment owners know that the purchase price is just one part of the financial equation. Fuel, maintenance, depreciation, and resale value all play major roles in determining the long-term value of your machine.  Below, we’ll explore understanding the total cost of ownership for heavy equipment, empowering you to make wise investment decisions that protect your bottom line. Defining Total Cost of Ownership Total cost of ownership (TCO) is the real cost of purchasing and owning a piece of heavy equipment, not just the initial price tag. You can think of it as the complete financial picture, from the day you buy it to the day you sell it. Understanding TCO helps you avoid financial surprises down the line, supports better budgeting and fleet planning, and forces you to consider everything, from routine maintenance to the final resale value. Why TCO Matters More Than Purchase Price While the purchase price is the first number that grabs your attention, it’s not the number that determines long-term profitability. TCO gives you a complete view of what your equipment will cost over its working life. When you understand heavy equipment TCO, you can then: Make smarter buying decisions based on long-term value. Plan your operating budget more accurately by accounting for ongoing expenses. Maximize return on investment by choosing equipment that holds its value and performs reliably. 4 Key Factors That Influence Heavy Equipment Total Cost of Ownership Unlocking the actual cost of your heavy equipment means understanding the key factors that drive its TCO. These elements can impact your bottom line. 1. The Purchase Price The purchase price is the initial amount you pay to acquire the equipment. It’s often the most visible number, but not always the most important in the long run.  Factors that influence the purchase price include: Equipment size and capabilities: Larger, more advanced machines tend to cost more, but may not complete tasks faster and more efficiently than smaller, more agile alternatives. Brand reputation and durability: Well-known brands often come with a higher price tag, but their quality and reliability may reduce future repair costs. Attachments and technology features: GPS systems, monitoring tools, and custom attachments are accessories that can increase the price but may add long-term value by improving performance and efficiency. While the purchase price matters, remember it’s only one piece of the TCO puzzle.  2. Fuel Efficiency and Operating Costs Operating costs are recurring expenses required to keep your machine running daily. Fuel is one of the most significant ongoing expenses. Fuel efficiency varies based on: Engine size and type Operating conditions Operator habits For example, a dozer running eight hours daily at high throttle will consume more fuel than a mini excavator with light-duty tasks. Understanding your project demands helps estimate accurate fuel costs. 3. Maintenance and Repair Expenses Maintenance and repairs are a core part of owning heavy equipment. From routine inspections and oil changes to unexpected part replacements, these expenses can impact your equipment’s overall cost. Preventive maintenance is a proactive approach. It involves maintenance tasks like oil changes, fluid checks, filter replacements, and tire or track inspections, and helps keep your machines in peak condition. These tasks may seem routine, but skipping them can lead to costly repairs.  A blown hose, seized bearing, or electrical issue requires parts and labor and can lead to significant project delays. In many cases, you’re also paying for expedited shipping or emergency technician support, which aren’t always planned for in your budget. To reduce these costs, develop a proactive maintenance plan based on manufacturer recommendations and real-world machine usage. Keep detailed records, train operators to spot early warning signs, and consider telematics tools that alert you when service is due or performance drops. 4. Depreciation and Resale Value Heavy equipment starts to lose value the moment it enters your fleet, but how much and how fast depends on several factors. Depreciation is the reduction of the machine’s value over time. Factors that influence depreciation include: Hours of use: Higher operating hours can lead to faster value decline. Condition and maintenance history: Well-maintained machines may retain value better and can sell at higher prices. Market demand: Some models and brands hold their value better because of market demand or reputation for longevity. Resale value is the amount you can recoup when you sell or trade in your equipment. It’s your opportunity to offset some of the initial ownership costs. You can maximize your resale value by keeping thorough service records, investing in timely repairs, and considering upgrades to keep your equipment competitive. How Total Cost of Ownership Informs Smart Equipment Decisions Looking at TCO gives you a clearer picture of your equipment’s impact on your business. It helps you understand: If you should rent, lease, or buy: If short-term project needs drive your decision, renting may be more cost-effective. If you should buy new or used machines: New machines come with warranties and fewer repairs, but used equipment may be more affordable and offer better value upfront. If you should replace your aging equipment: Rising maintenance costs and falling resale value are signs it might be time for an upgrade. TCO also helps you plan cash flow, compare brands, and ensure you’re investing in machines that deliver long-term value. Whether you manage a large fleet or run a small contracting business, calculating ownership costs empowers you to make informed, profitable decisions. Frequently Asked Questions Get your pressing questions on the TCO for heavy equipment answered. 1. How Do I Calculate Heavy Equipment Ownership Cost? To calculate ownership cost, add up your purchase price, fuel and maintenance expenses, insurance, and other operating costs. Then subtract the projected resale value of the machine. This gives you a clearer picture of the long-term investment required for each piece of equipment. 2. What Is Heavy Equipment Cost per Hour and How Do You Calculate It? Heavy equipment cost per hour is the estimated cost of operating a machine for one hour. It includes fuel, maintenance, repairs, insurance, and depreciation, divided by the number

When you’re running a construction business or managing a fleet, you can’t afford equipment that quits before the job is done. Breakdowns mean lost productivity, missed deadlines, higher repair bills and frustrated crews waiting around instead of working. Choosing the wrong machine can drain your budget and your reputation. That’s why reliability matters and why many decision-makers turn to Cat® equipment. This article explores why Cat equipment is the most reliable equipment in the industry, how it delivers longer lifespans, fewer breakdowns and more substantial returns, and why it could be the best investment for your next project. The Importance of Reliability in Equipment Reliability is the foundation of every successful project in the construction and heavy equipment industries. Your machines need to start on time, run at full capacity and continue working under tough conditions without unexpected failures. When you can’t count on your equipment, the consequences are quick and can be expensive. Some immediate consequences of unreliable equipment include: Unplanned downtime that derails entire projects: For example, if an important wheel loader stops working halfway through a material move, the whole workflow grinds to a halt. Crews stand idle, subcontractors are delayed, and tight deadlines are suddenly at risk. Loss of reliability that impacts client confidence: In industries where timing and results are everything, a single missed milestone caused by equipment failure can harm your reputation. Higher operating costs: Emergency repairs, replacement rentals and overtime pay for rescheduled work quickly affect profit margins. Lost productivity: Crews standing idle while waiting for repairs waste valuable labor hours that could have been spent moving the project forward. Increased safety risk: Sudden failures, such as hydraulic leaks or engine stalls, can create hazardous conditions for operators and project teams. Cat equipment reliability comes from decades of engineering expertise, consistent performance in demanding environments and a commitment to quality that starts at the design stage. 1. Engineering and Materials The reliability of your machine starts with its materials. Cat equipment is engineered with materials intended to handle harsh, real-world conditions. Machines are constantly exposed to high-impact forces, abrasive materials, and challenging terrain in applications like demolition or roadbuilding. Equipment designed with these stresses in mind may experience less wear over time, potentially reducing the need for frequent repairs. 2. Maintenance and Service Design Even the most durable equipment needs regular care, and how a machine is used can make that process faster, easier and more effective. Cat equipment is designed with serviceability in mind, meaning common maintenance points are often positioned for quick access. This accessibility can help reduce technicians’ time on routine tasks like oil changes, filter replacements and inspections. Longer service intervals, where possible, may also help keep downtime to a minimum. By extending the time between scheduled maintenance, operators can keep machines in the field longer without sacrificing performance. 3. Cat Machine Lifespan and Long-Term Performance When you invest in Cat equipment, you’re buying machines built to last. When properly maintained, Cat machines’ lifespan often exceeds competing brands. Respected for their longevity, Cat machines are frequently rebuilt or sold as used units and continue delivering value. This longevity makes them an excellent ROI over the long haul. 4. Advanced Technology Technology now plays a significant role in keeping machines running at their best. Cat integrates various advanced systems to help operators and fleet managers monitor performance, prevent issues and reduce unnecessary wear. For example, tools like VisionLink® give managers real-time insights into machine health, fuel usage and operating hours. By spotting unusual patterns early, maintenance can be scheduled before a minor concern becomes a costly breakdown. Similarly, Grade Control and Payload Systems can help operators work more precisely, which may reduce strain on components and extend their usable life. Reliability’s Impact on Resale Value Well-maintained, dependable equipment often commands a higher price in the resale market, and Cat machines are no exception. When buyers trust the Cat name, it means stronger resale demands and pricing. A well-maintained Cat machine holds its value better than most competitor machines, and a lower breakdown frequency means the machine is more likely to remain in good condition after years of use. Choosing the Right Cat Equipment Partner Investing in Cat equipment is only part of the equation. The dealer you choose will significantly affect how well your equipment performs over time. A trusted partner ensures you get the right machine, provides expert product support and keeps your fleet running at peak efficiency with reliable service and genuine parts. A few key things to look for in a Cat equipment partner include: Proven industry experience: A partner with decades of experience in the business understands the unique challenges of your industry and can recommend equipment that genuinely fits your operation. Strong product support team: After-sales service, readily available parts and skilled technicians help minimize downtime and extend machine life. Access to the latest technology: A knowledgeable dealer can guide you through Cat’s advanced tech features, from VisionLink® monitoring to Grade Control, ensuring you get the most from your investment. Commitment to your success: The right partner takes time to understand your goals, works within your budget and supports you long after the sale. FAQs Find answers to your pressing questions about Cat equipment. 1. Why Does Cat Equipment Last Longer? Cat equipment lasts longer because of superior materials, rigorous quality control, innovative engineering and preventive maintenance features built into every machine. When properly maintained, many Cat machines run well beyond standard industry hours. 2. What Is the Frequency of Breakdowns for Cat Equipment? While all machines experience wear, Cat machines have low breakdown frequencies thanks to Cat equipment durability, early warning systems and strong maintenance support. 3. What Is the Expected Lifespan of a Cat Machine? The expected lifespan varies by model and use, but many Cat machines can operate well beyond their expected hours when properly maintained. Their long lifespan can help you keep your projects going with fewer downtime interruptions. Let Gregory Poole Help You Invest in Long-Term Reliability When equipment reliability is a top priority for your operation, Cat machines are built to deliver. From cutting-edge engineering to simplified maintenance and technology that keeps your

For the first time ever, construction enthusiasts, kids, and collectors can immerse themselves in the ultimate tribute to some of the world’s most iconic construction equipment with the launch of the Construction Edition Official Sticker Album.   This collection brings together 20 famous OEM brands in a collectible set featuring 312 stickers, including 84 special shiny ones. The Construction Edition Sticker Album showcases the industry’s most awe-inspiring machines, from massive mining equipment to towering cranes and eco-friendly excavators. Packed with fascinating history, facts and stats, this album offers an engaging and educational experience for all ages to inspire a new generation of construction enthusiasts.  The Construction Edition Official Sticker Album is now available at major retailers across the UK, including Tesco, Nisa, Asda, Morrisons Daily, One Stop and more than 1,000 independent news retailers. In Ireland, starter packs and stickers are available at all Eason stores. [See below for further details.] Look out for the Golden JCB DIGatron sticker: Find a Golden JCB DIGatron sticker and win a tour of the JCB factory and a JCB goody bag. There are five stickers featuring the JCB DIGatron Monster Jam truck hidden in random packs of Construction Edition sticker packs.  An amazing opportunity to venture behind the scenes of JCB’s world famous diggers; this unique tour includes historical information, little-known facts, exciting insights and gets you up close to the JCB manufacturing process. The tour of JCB World Headquarters will then take you to the assembly line of the world famous backhoe loader to see how the machine is built from the delivery of the sheet steel, profiling, laser cutting, welding, paint shop, assembly and finally the finished product.  You will also see the Story of JCB exhibition. This sticker album follows the success of the Monopoly Construction Edition (launched September 2023) and Construction Edition Top Trumps, designed to generate nostalgia for some and inspiration for others. The Construction Edition Official Sticker Album has been developed by the team behind The Construction Index, a leading UK trade magazine and news service. “We created Construction Edition to generate excitement and interest in construction and the amazing machines that are used across the industry,” said publisher Paul Buist.  “By placing construction brands into homes through play, we hope to foster repeat engagement and a love for learning about the industry.” He added: “The Construction Edition Sticker Album is more than a collection, it’s a celebration of innovation, engineering and the joy of discovery.”  For more information or to find a stockist near you, (Store Locator towards bottom of page).  Got a story? Email news@theconstructionindex.co.uk Read More

Working going on at Parc Eirin in Tonyrefail The UK’s first investor-funded ground source heat pump network has broken ground in Tonyrefail in South Wales. The heat network is being installed for affordable housing developer Tirion Homes by British heat pump manufacturer Kensa and backed by funds managed by Octopus Energy’s renewable arm, Octopus Energy Generation Funded networks, like the one being installed for 114 new homes at the Parc Eirin development in Tonyrefail, are set to be a cornerstone of the UK’s energy transition. By 2040, some 250,000 homes a year are expected to connect to one of these networks. The funded network model creates a new, subsidy-free way to install clean heat that, according to Kensa, “makes it easier than ever for millions of households to benefit from the high-efficiency and reliability of ground source heat pump technology”. Once complete, each Parc Eirin property will be fitted with a Kensa Shoebox NX ground source heat pump, housed inside each property like a traditional gas boiler. The shared underground infrastructure mirrors the way existing utilities like water, gas and broadband are delivered, where the customer does not have to pay the upfront installation cost. The system uses underground pipes connected to a compact heat pump inside each home, offering the familiarity of a gas boiler but with lower running costs and reduced carbon emissions. The renewable heating method has been fitted in more than 100 other properties at Parc Eirin, completed during a previous phase of the development. Each new property from this latest phase will feature a ground source heat pump, solar panels and battery storage, with all works expected to be completed by the end of 2027. Tirion Homes, alongside its contractor Morganstone, is building the new homes. The not-for-profit housing provider received funding from the Development Bank of Wales and the Welsh government to complete this phase of the Parc Eirin development. Private investors, including pension funds, will fund the long-life heat pump infrastructure, expected to last beyond 100 years, with households paying a standing charge to connect and use it. Octopus Energy Generation’s investment at Parc Eirin comes after it received £330m from pension provider Smart Pension to support and invest in these projects. It also follows a £70m joint investment in Kensa from Octopus Energy Generation and Legal & General in 2023. Kensa chief executive Tamsin Lishman said: “Kensa’s unlocking of third-party institutional investment is a major milestone for ground source heat pump deployment and will unlock access to deliver energy-secure heating for millions of homes, whether new build or existing homes. “By turning ground source infrastructure into an attractive investable asset for pension funds, we can address the financial barriers to adoption and empower the installation of highly efficient and affordable heating and hot water systems that cut both energy bills and carbon emissions… Parc Eirin is a flagship initiative showing how we can deliver game-changing renewable heating at scale.”  Tirion Homes chief executive David Ward said: “The delivery of renewable energy infrastructure remains a huge challenge, particularly in marginal locations, where project viability is challenging. Tirion has been working hard to identify opportunities to reduce the cost burden of energy infrastructure, and the Kensa model provides a commercial route to delivering our future heating needs without prohibitive up-front costs to consumers, whether they be house purchasers or those renting homes. “Tirion is at the forefront of developing new partnerships and collaborating with energy investors and looks forward to rolling out these technologies with our partners on all our future schemes.” Got a story? Email news@theconstructionindex.co.uk Read More

52 Avenue Road, just north of Regent’s Park in the capital Following completion of the concrete frame and basement by a specialist contractor, EE Smith Contracts will deliver the envelope and full fit-out of the 52 Avenue Road project, which is being developed by Domvs London a joint venture with Select Group Ltd. EE Smith’s contract is expected to be worth more than £60m. The super-luxury residential scheme comprises three terraces of four five-storey homes, each featuring winter gardens on the roof terraces with private lift access, and views over Regent’s Park and central London. The development also includes a basement with health and fitness amenities for residents, including a 25-metre swimming pool, gym, treatment rooms and residents’ lounge. Completion is expected in autumn 2026. Neil Bottrill, managing director of Leicester-based EE Smith Contracts, said: “This gives us the perfect opportunity to showcase our skills at the very top end of the fit-out industry and to develop a long-term, collaborative relationship with our new client. “It also gives further vindication of the investment into the London office which we launched last year in order to provide a base for our Project-based staff and to further support the organic growth of the business over the coming years. We continue to see many opportunities in the high-end fit out market and we are very well placed to take advantage of that.” Jon O’Brien, principal and founder of Domvs, added: “We are delighted to have secured the services of EE Smith following a long tender and evaluation process. The quality of their team, from top down, and the standard of their final product aligned perfectly with our ‘best in class’ values.” Got a story? Email news@theconstructionindex.co.uk Read More

The low-level waste repository site near Drigg Nuclear Waste Services (NWS) is calling on Aecom for design and engineering services to support front end programme delivery at its low level waste repository site near Drigg in Cumbria. Aecom has been appointed as framework partner for NWS’ new integrated design and engineering framework (IDEF) under a four-year term. Aecom will provide multidisciplinary design services associated with asset refurbishment, projects relating to general operations including demolition and remediation, and future waste management facilities, such as vaults and leachate management systems. Aecom will also work with its specialist sub-consultant partners Nuvia and Quintessa to deliver the full scope of works for the framework. Aecom’s appointment follows that of John Graham Construction as contractor for the project under a £50m integrated site works framework. [See previous report here.] Karen Armstrong-Telfer, nuclear practice lead for Aecom’s environment and energy business in the UK, said: “Through this new framework, Aecom will support NWS as it continues its vital work to safely and efficiently manage the UK’s radioactive waste. We’re excited to apply our extensive multidisciplinary expertise and deep industry knowledge to deliver innovative, timely, and safe project outcomes.” Mike Pigott, director of sites and operations at Nuclear Waste Services, said: “This partnership marks a significant step forward in our work to deliver safe, sustainable, and innovative solutions for the management of the UK’s radioactive waste,” said “This work will enhance and prolong the life of critical infrastructure at the repository site, essential for our enduring mission of making radioactive waste permanently safe sooner.” Established in 2022, NWS brings together the expertise of LLW Repository Ltd, Radioactive Waste Management Ltd, and the Nuclear Decommissioning Authority’s Integrated Waste Management Programme (IWMP). It is part of the NDA group, which has a collective long-term mission to clean up nuclear decommissioning sites safely, securely, and cost-effectively. Got a story? Email news@theconstructionindex.co.uk Read More

The £47m contract has been awarded to Balfour Beatty by the Waveney, Lower Yare & Lothingland Internal Drainage Board through the Scape framework. The scheme is designed to provide sustainable flood risk protection to the A12 road, Parkdean Holiday Park, 35 homes, 46 businesses and 600 hectares of farmland. The project will see Balfour Beatty replace the existing Benacre pumping station, built in 1955 and now past its design life and at risk of coastal erosion. The contractor will also construct a new embankment across the Lothingland Valley to manage tidal flooding as well as build an additional, smaller pumping station along the embankment to manage fluvial flooding. An intertidal channel will also be created between the new embankment and the coastline, forming a new intertidal habitat area. This will help create 82 hectares of habitat to support migratory and breeding farmland birds, waterfowl, and seabirds. Balfour Beatty will use modular construction techniques to build the pumping station structures offsite so that the existing pumping station can continue to operate before being decommissioned and removed. Enabling works began in spring 2025, with main construction due to begin later in the year. Completion is planned for 2030. Got a story? Email news@theconstructionindex.co.uk Read More