us-business

Technical and energy services contractor Dalkia UK saw its profit plummet despite surging demand in the nuclear and energy sectors. The London-based firm – a subsidiary of French state-run energy provider EDF – tabled a pre-tax profit of £312,000 in the year to 31 December 2024, down from £21.5m the year before. However, a £15.8m loss from continuing operations in 2023 was offset by a profit of £37.3m from discontinued operations. These included its Suir Engineering business in Ireland, sold in January that year to private equity group Duke Street for £69.2m. Dalkia UK chief executive Gautier Jacob confirmed a “strong sales performance” in 2024 “despite some headwinds in the UK construction market in the context of high inflation and interest rates”. Turnover also increased to £609m, up slightly on the previous year’s £607.2m total (including £25.4m from discontinued operations), as Dalkia met its strategic objective to reach a turnover of £600m in 2024. Dalkia’s cash at hand grew from £42.6m to £55.6m, although its annual dividend payout fell from £44.3m to £6.8m. The firm’s workforce edged up from 4,019 to 4,064 staff, and its annual wage bill rose by 2 per cent to £204.3m. Jacob said growth in the UK’s engineering sector had been “concentrated in our strategic sectors, with a notable expansion in the nuclear and energy sectors”. The CEO also confirmed a “limited number of legacy projects” had continued to have an impact on Dalkia’s profit in 2024. While he did not elaborate, last year Dalkia reported a number of onerous contract losses from projects in Scotland and the Midlands. The company did table a provision of £6.1m for loss-making contracts at the end of December, although the total was much lower than the £14.5m provision at the beginning of the year. The contractor has also fully incorporated Spie UK into its business after it bought the firm for £43m in December 2022. Spie has since been rebranded as Dalkia Operations. More than £1m in fees was paid to integrate Spie in 2024, comprising £1.1m of integration costs and £109,000 of redundancy costs. In the previous 12 months, it spent more than £1.7m on integration and redundancy measures. Over the course of the year, Dalkia repaid a £15m loan to EDF Energy. Jacob said he expected the business to “perform financially and operationally in the years to come” thanks to the “size and quality of our order book”. At the end of 2024, Dalkia’s forward orders totalled £1.1bn. In the latest edition of the CN100 ranking, Dalkia was the UK’s 26th biggest contractor. It was also the biggest mechanical and electrical contractor in the UK. Read More

A key report has demanded further work on two models used to deliver major water infrastructure projects after the construction industry raised concerns. The Independent Water Commission recommends that a new single regulator should continue to “address issues” with the direct procurement for customers (DPC) and specified infrastructure projects regulations (SIPR) systems. Delivered by former Bank of England deputy governor Sir Jon Cunliffe for environment secretary Steve Reed, the report also calls for a review of the two models in 2030. The commission cautions against introducing further changes to the systems “without significant consideration”. DPC was introduced by Ofwat in 2019 and has been the default procurement model for schemes worth over £200m since 2024. It sees a competitively appointed provider selected to design, build, finance and sometimes operate and maintain water infrastructure. SIPR was brought in more than a decade ago but can only be used in specific situations. The Tideway super-sewer in London is currently the only scheme to have used this model, which licenses a third party to deliver construction work and be regulated directly. Ministers have outlined proposals to relax the criteria for SIPR, and Ofwat has proposed three more projects be delivered through the model including £5bn worth of reservoir building in Lincolnshire and Cambridgeshire. The commission says it is supportive of government plans to allow more schemes to use this process but that it “would caution against introducing further changes beyond existing plans without significant consideration”. It adds: “Letting current regulatory changes become embedded and subsequently reviewing how pipeline projects are progressing would be a pragmatic approach for this nascent market.” Sir Jon said Ofwat was carrying out work to reduce the administrative burden and cost of delivery through DPC. The report says: “Concerns have been raised by construction companies that Ofwat and water companies may not yet have enough experience of DPC to progress projects without delays. “Concern has also been expressed over the costs of setting up SIPR projects, which can reportedly go into several hundreds of millions of pounds.” The commission says a new regulator should “continue the essential steps that Ofwat is taking to address issues with DPC and SIPR”. It adds: “A full evaluation of both schemes should be undertaken in five years when a broader evidence base has been accumulated. The commission recognises that given different views on the benefits of DPC and SIPR, the Welsh Government may decide not to pursue these reforms. “As further schemes move through the DPC and SIPR pipeline, additional lessons may emerge including around whether government support packages are needed to address exceptionally high tail risks that can most appropriately be borne by the public sector.” Sir Jon called for a new regulator to “combine the functions of Ofwat, Drinking Water Inspectorate and water functions from the Environment Agency and Natural England”. Ed Evans, director of the Civil Engineering Contractors Association Wales, said: “Rebuilding public confidence in the water sector is essential, and we welcome the Independent Water Commission’s recommendations, which are laser-focused at improving performance, transparency and environmental outcomes.” An Ofwat spokesperson said: “The Cunliffe Report sets out a new direction for the water sector. “While we have been working hard to address problems in the water sector in recent years, this report sets out important findings for how economic regulation is delivered, and we will develop and take this forward with [the] government.” A spokesperson for trade association Water UK said: “Everyone agrees the system has not been working. Today is a major moment and this fundamental change has been long overdue. “Crucially, it is now up to the government to decide which recommendations it will adopt, and in what way, but the commission’s work marks a significant step forward.” Read More

Huw Jones is executive director, infrastructure at Bam UK & Ireland A couple of weeks ago, the government unveiled its 10-year Infrastructure Strategy setting out its ambitions to spend £725bn over the next decade. The strategy, announced by chief secretary to the Treasury Darren Jones, sets out a long-term plan for how the government will invest in infrastructure and ensure that funding is spent effectively and efficiently. “This long-term view enables better planning, smarter procurement and stronger partnerships between the public and private sectors” For too long, infrastructure planning has been constrained by short-term political cycles. This strategy marks a turning point. It provides the certainty the industry needs to invest in innovation, skills and productivity – knowing that the work we do today will be supported and sustained over the long term. Even a 1 per cent increase in productivity across major projects can deliver significant gains to UK GDP, and the Infrastructure Strategy gives us the platform to achieve that. This long-term view enables better planning, smarter procurement and stronger partnerships between the public and private sectors. It will also ensure that infrastructure investment leaves a lasting legacy – energy resilience, housing support and meaningful career opportunities for many across the UK. Importantly, a visible and consistent pipeline allows us to invest in people. It enables us to grow apprenticeships, support early careers and create re-entry opportunities for those returning to the workforce. These are the foundations of a more inclusive and sustainable industry. However, these are also steps we need to take to make our sector more attractive to the next generation of workers and address the 250,000 skilled worker shortage our industry is facing. Offering greater working flexibility and supporting people who have been on an extended career break are both important steps to making our sector more attractive to more people. Developing skills The government recently announced £1.2bn in funding to support over one million young people into training and apprenticeships – this initiative will certainly help the industry recruit a substantial number of young people in various roles in construction. It is very important that part of the focus is on creating long-term employment opportunities and developing the skills that the industry needs for now and the immediate future. A coordinated, cross-sector approach also means we can focus resources where they will have the greatest impact, whether that’s supporting the government’s five strategic goals, accelerating housing delivery, or strengthening our energy resilience in an increasingly volatile geopolitical environment. A key enabler of the infrastructure pipeline will be vital improvements to the planning and consent for major infrastructure programmes. The government will need to ensure that the correct regulatory environment is established to enable the delivery of the UK’s infrastructure pipeline. We also welcome the government’s recognition of the need to reform the planning and consenting processes. A streamlined regulatory environment, combined with smarter procurement and risk allocation, will help ensure that public investment delivers maximum value.  The Competition and Markets Authority’s market study into the design, planning and delivery of railway and public road infrastructure projects, which complements the Infrastructure Strategy by helping to identify and remove barriers to efficiency and innovation, is another important step. Finally, we see the Infrastructure Strategy as a catalyst for deeper collaboration between the public and private sectors. A stable pipeline will attract private capital, and we look forward to working with the government to develop investment models that deliver long-term returns for UK society. This is a moment of opportunity – and contractors are ready to play their part. Read More

Plans dating back more than 85 years to build the £500m Thames Gateway Bridge have finally been axed to free up land for development. A safeguarding order protecting land around the proposed bridge has been lifted by transport minister Simon Lightwood. In a written statement to parliament last Friday (18 July), he said the move reflected the government’s commitment to ensuring transport and infrastructure supports housing delivery and drives growth as part of its Plan for Change.  He said the outdated order had been an “obstacle” to vital development and was no longer needed as London’s transport needs were now different following major investments in London’s river crossings – notably the Dartford Crossing and the Silvertown Tunnel. “Safeguarding is an important planning tool used to protect land for future transport schemes from conflicting development,” Lightwood said. “It was intended to protect land for a road crossing that has not been delivered. Since then, London’s transport priorities have evolved.  “The safeguarding directions therefore no longer align with the direction of transport policy or the evolving needs of this part of London. “The continued safeguarding of this land has been an obstacle to much-needed development, and I am therefore lifting these directions.  “The government is keen to deliver new homes and unlock economic opportunity, and we are taking steps to remove unnecessary barriers to progress.” In May, the Crown Estate and Lendlease signed a £24bn partnership to develop housing, as well as science and innovation districts, across the UK. The partners said the programme would deliver 26,000 homes, of which about one-third would be classed as affordable, and up to 930,000 square metres of laboratory and workspace. Sites named for development include areas around Euston station, Thamesmead Waterfront and Silvertown in London. The idea for the Thames Gateway Bridge was first raised in the 1940s, and in 2004 it was proposed once more with preliminary planning permission, but in 2008, Boris Johnson, Mayor of London at the time,  cancelled the scheme. In 2009, a scaled-down version was proposed but this too was axed in 2016. Read More

HomeTechnology NewsMicrosoft warns of ‘active attacks’ on SharePoint collaboration software; businesses hit Microsoft added that this attack applies only to on-premise SharePoint servers and not those in the cloud, like Microsoft 365. By CNBCTV18.com July 22, 2025, 4:21:15 AM IST (Published) “Active attacks” have targeted Microsoft’s SharePoint collaboration software, the company warned governments and businesses worldwide on late on Monday, July 21. SharePoint is generally used by global businesses and organisations to store and collaborate on documents. According to the Cybersecurity and Infrastructure Security Agency, the vulnerability provides unauthenticated access to systems and full access to SharePoint content, which enables bad actors to execute code over the network. The CISA has warned that this posses a risk to organisations, while the impact of the attack continues to be assessed. Microsoft issued fixes for customers to apply to two versions of the SharePoint software and said that it is working towards developing a patch to fix the 2016 version. Researchers at Palo Alto Networks believe that the hack is likely to have reached thousands of organisations globally. “The exploits are real, in-the-wild and pose a serious threat,” they added. Microsoft added that this attack applies only to on-premise SharePoint servers and not those in the cloud, like Microsoft 365. European Cybersecurity firm Eye Security, who claims to have first identified the flaw, said that the vulnerability is concerning, especially because it allows hackers to impersonate the user or services, even after the SharePoint server is patched. “SharePoint servers often connect to other Microsoft services such as Outlook and Teams, meaning such a breach can “quickly” lead to data theft and password harvesting, Eye Security researchers said,” Eye Security Researchers said. Vaisha Bernard, the Eye Security’s chief hacker and co-owner said that after scanning about 8,000 SharePoint servers, he has so far identified at least 50 that were successfully compromised. Read More

HomeMarket NewsUS Stock Market Highlights: S&P 500 posts first close above 6,300, Nasdaq hits a record ahead of big tech earnings US Stock Market Highlights: The S&P 500 edged up 0.14% on Monday (July 21) to close at 6,305.60, marking its first-ever finish above the 6,300 level, as upbeat earnings sentiment outweighed concerns over trade tensions. The Nasdaq Composite advanced 0.38% to end at 20,974.17, with both the S&P 500 and Nasdaq hitting fresh intraday highs earlier in the day, driven by gains in tech heavyweights like Meta Platforms and Amazon. Meanwhile, the Dow Jones Industrial Average slipped 19.12 points, or 0.04%, to close at 44,323.07. US Stock Market Highlights: The S&P 500 edged up 0.14% on Monday (July 21) to close at 6,305.60, marking its first-ever finish above the 6,300 level, as upbeat earnings sentiment outweighed concerns over trade tensions. The Nasdaq Composite advanced 0.38% to end at 20,974.17, with both the S&P 500 and Nasdaq hitting fresh intraday highs earlier in the day, driven by gains in tech heavyweights like Meta Platforms and Amazon. Meanwhile, the Dow Jones Industrial Average slipped 19.12 points, or 0.04%, to close at 44,323.07. Watch this space for all the Live updates. Read More

The USFDA has classified the outcome of the inspection as ‘Voluntary Action Indicated’ (VAI) and has officially closed the inspection. Shares of Dr Reddy’s Laboratories Ltd ended at ₹1,259.50, up by ₹1.40, or 0.11%, on the BSE. Dr Reddy’s Laboratories Limited on Monday (July 21) said it has received the Establishment Inspection Report (EIR) from the United States Food & Drug Administration (USFDA) for its Active Pharmaceutical Ingredient (API) facility located in Middleburgh, New York. This follows the company’s earlier intimation dated May 17, 2025, regarding the GMP inspection conducted at the site. The USFDA has classified the outcome of the inspection as ‘Voluntary Action Indicated’ (VAI) and has officially closed the inspection. What is an Establishment Inspection Report (EIR)? Based on the inspection and the response given by the company to the USFDA, the FDA will release an Establishment Inspection Report (EIR) within 30 days of the inspection. The EIR reflects the FDA’s official determination of a factory’s GMP compliance. Also Read: Dr. Reddy’s gets seven USFDA observations after Srikakulam plant inspection Voluntary Action Indicated (VAI): Given when violations are found, but the problems do not justify further regulatory action. Improving GMP compliance is voluntary in this case. The facility can continue selling approved drugs and will also receive approvals for new filings. Fourth Quarter Results Dr Reddy’s Laboratories’ net profit for the fourth quarter rose 22% year-on-year to ₹1,594 crore, compared to ₹1,307 crore in the same quarter a year ago. The figure was also higher than CNBC-TV18 poll expectations of ₹1,491.6 crore. Revenue for the quarter grew by 8.6% on a YoY basis to ₹8,506 crore, which is higher than last year’s ₹7,830 crore and CNBC-TV18’s estimate of ₹8,404.7 crore. Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter jumped 58.9% to ₹2,975 crore. The number was higher than the CNBC-TV18 poll of ₹2,323.7 crore. EBITDA margin for the quarter expanded by 510 basis points from last year to 29.1%, higher than the poll projection of 28%. Also Read: Dr Reddy’s pins hopes on a diabetes treatment drug, but analysts remains cautious Shares of Dr Reddy’s Laboratories Ltd ended at ₹1,259.50, up by ₹1.40, or 0.11%, on the BSE. Read More

Mumbai Rains Highlights: Santacruz saw highest rainfall, followed by Juhu, Bandra from 8.30am to 5.30pm By CNBCTV18.COM |  Jul 22, 2025 12:38 AM IST (Updated) Waterlogging and huge traffic jam is being reported at major roads. The rainfall is likely to continue in the evening too. The IMD said heavy to very heavy rainfall is likely at isolated places over Konkan and Goa, ghat areas of central Maharashtra until July 26. Heavy rains lashed Mumbai and the suburban region on Monday (July 21). The financial capital is expected to receive showers throughout this week.  The India Meteorological Department has issued an Orange alert for Mumbai and suburbs. Moderate to heavy spells of rain are very likely to occur at isolated places in the districts of Mumbai and Mumbai Suburban during the next three-four hours. Waterlogging and huge traffic jam is being reported at major roads. The rainfall is likely to continue in the evening too. The airlines have issued a travel advisory asking commuters to take additional time to reach airport and also to check flight status. A post by X handle Mumbai Rains at 6:15 am read, “Areas in central Suburbs should be on target as rain bands will move from Western suburbs.” The IMD said heavy to very heavy rainfall is likely at isolated places over Konkan and Goa, ghat areas of central Maharashtra until July 26. The water level in lakes that supply drinking water rose significantly after the rainfall. The Brihanmumbai Municipal Corporation (BMC) data on July 19 said the combined stock in the seven reservoirs now stands at 81.86% of their total capacity, amounting to 11,84,796 million litres. Read More

HomeMarket NewsQ1 Results Highlights: Dhanlaxmi Bank returns to net profit, CIE Automotive profit down 6.2% Q1 Results Highlights: Several important names like UltraTech Cement, IDBI Bank, Eternal, UCO Bank, Latent View Analytics, and Havells India reported their results today. Shares of Reliance Industries, HDFC Bank and ICICI Bank, were in focus after the companies reported their quarterly results for the April-June period. Follow CNBC-TV18’s live blog for the latest updates on Q1 results today. Q1 Results Highlights: Several important names like UltraTech Cement, IDBI Bank, Eternal, UCO Bank, Latent View Analytics, and Havells India reported their results today. Shares of Reliance Industries, HDFC Bank and ICICI Bank, were in focus after the companies reported their quarterly results for the April-June period. HDFC Bank’s profitability was aided by a jump in other income, while ICICI Bank’s profit and core income (NII) were above expectations from the CNBC-TV18 poll. Follow CNBC-TV18’s live blog for the latest updates on Q1 results today. Read More

Topline President Donald Trump called for the Washington Commanders to “immediately” change their name back to the Washington Redskins, the controversial moniker criticized for years as a racial slur that the team abandoned in 2020, suggesting he’d intervene to block a multi-billion dollar deal for a new stadium in Washington, D.C., if the name isn’t changed back. The president also criticized the Cleveland Guardians for retiring their “Indians” nickname. Icon Sportswire via Getty Images Key Facts In a post on Truth Social on Sunday morning, Trump claimed there was a “big clamoring” for the Commanders to return to their original name, and instructed the team’s owners to “GET IT DONE!!!” Trump also mentioned the Cleveland Guardians, who changed their name and mascot from the Cleveland Indians, insisting, without further elaborating, that “our great Indian people, in massive numbers, want this to happen.” Trump followed up with a separate post Sunday afternoon, saying “if they don’t change the name back to the original ‘Washington Redskins,’ and get rid of the ridiculous moniker, ‘Washington Commanders,’ I won’t make a deal for them to build a Stadium in Washington,” claiming his original statement had “totally blown up.” Trump has criticized the name change to reporters multiple times in the past, but ramped up the call for change Sunday, claiming “times are different now than they were three or four years ago.” The Redskins moniker was dropped after the 2019 season, with the team officially going by the name “Washington Football Team” for the 2020 and 2021 seasons before the Commanders name was adopted for 2022. What To Watch For A deal for the redevelopment of the RFK Stadium site in Washington, D.C., to become the Commanders’ new stadium is under consideration by the D.C. City Council. If the $3.7 billion deal is greenlit, it would pave the way for NFL football to return to Washington proper for the first time since 1996. Key Background Trump has a long history with professional sports, first owning the New Jersey Generals, a team in the short-lived United States Football League that challenged the National Football League in the 1980s. He also famously tried to purchase the Buffalo Bills in 2014, only to be outbid. During his career in politics, Trump has repeatedly weighed in on culture war issues surrounding the NFL. During his first term in office, Trump constantly criticized NFL players for taking a knee during the national anthem in protest. The president has made backing Native American mascots one of his pet causes, previously launching a Title VI investigation into New York’s attempt to retire Massapequa High School’s “Chiefs” mascot and nickname, even sending Education Secretary Linda McMahon to speak in May at the high school in support of the name. What Has Trump Said About The Commanders Before? In the past, Trump has criticized the name changes but stopped short before calling for them to reverse the decision. After the Cleveland Guardians announced they would retire their “Indians” nickname, Trump in a 2020 tweet said it was “not good news, even for ‘Indians’” and blamed “cancel culture.” When asked about the Commanders’ name change multiple times this year, Trump said he would not have changed the name in the first place. “I wouldn’t have changed the name,” Trump said while speaking to reporters earlier this month. “It just doesn’t have the same ring to me.” Later speaking to reporters in the Oval Office, Trump again defended the old name. “It’s a great population, and they like when they’re called by various names. Now Washington, the Redskins, that possibly a little different, a little bit different, but I can tell you I spoke to people of Indian heritage and they love that name and they love that team,” Trump said. The president also heaped praise on the Kansas City Chiefs and their quarterback Patrick Mahomes, who have also been criticized for their Native American imagery. “They’re not changing their name. A great team, great people,” Trump said. “I like that team, they’re called the Chiefs, and frankly I see nothing wrong with them.” The Chiefs lost to the Philadelphia Eagles 40-22 in Super Bowl LIX earlier this year, where Trump became the first sitting president to attend the big game. Forbes Valuation Forbes estimates the Washington Commanders are worth $6.3 billion, making them the 10th-most valuable team in the NFL. Commanders owner Josh Harris, who cofounded Apollo Global Management and has stakes in several professional sports teams, has an estimated net worth of $10.6 billion. Read More