Inflation
Otis Cuts Sales View With Slowdown in China and U.S.
Otis Worldwide lowered its 2024 net sales forecast on July 24 on softening demand for its new equipment from North America and China, Reuters reports. The company expects its full-year...
Megaproject Boom Increases Competition for Building Materials
Multibillion-dollar government infrastructure projects and net-zero efforts are leading to materials shortages, Construction Dive reports. Inflationary pressures, coupled with labor constraint, have led to critical shortages and elevated costs for...
Schindler Announces 1Q Profits Drop But Beats Estimates
Schindler reported on April 22 a drop in first-quarter net profit but beat the consensus forecast despite supply chain woes, cost inflation, coronavirus lockdowns and market contraction in China, according...
TKE, Faced With Inflation, Supply-Chain Challenges, To Increase Costs
The cost of vertical-transportation new installation and modernization products manufactured at TK Elevator (TKE) North America's Middleton, Tennessee, facility will go up on June 10, TKE announced on March 10....
