Corporate investment in new business facilities such as office buildings, industrial campuses, and call centers rose to a record $1.2 trillion in the United States in 2004, its highest level since 2000, according to a new publication by Ernst & Young LLP.Of the total, $270 billion was spent on new facilities and $950 billion was spent on replacing or modernizing facilities, says the report, titled "US Investment Monitor." Six of the top 15 capital investment projects announced last year are in areas hit by Hurricane Katrina, but they were in the early stages of development and appear to be ready to proceed, Ernst & Young said. The state in which business facilities expanded the fastest in 2004 was Texas, where $13 billion was invested, more than twice as much as second-place Michigan, the company reported. Ernst & Young can be found online at http://www.ey.com.
-
According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
2h ago -
Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
4h ago -
McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
4h ago -
The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
6h ago -
The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
6h ago -
The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18