Crosslinx Transit Solution, an international consortium, has won a contract to build a light-rail line in Ontario, Canada, that could be worth up to $3.3 billion. The group, which includes SNC-Lavalin, ACS Infrastructure Canada, Aecon, Dragrados, EllisDon, IBI Group and Stantec beat out a separate consortium for the contract.
Small-business loans outstanding increased in the fourth quarter compared with Q3, the first gain since the Federal Deposit Insurance Corp. began tracking loans quarterly in 2010. The amount reached $586 billion, up from $584 billion in Q3. Still, the overall level suggests small-business lending is weak, and other surveys indicate continued cautiousness among borrowers.
The new reactor technologies of Westinghouse Electric and Areva secured interim design clearance from the U.K.'s Office for Nuclear Regulation. The companies still need to clarify some technicalities, but regulators said they were confident that the firms would address the issues. "This announcement marks a tremendous milestone on the road toward seeing AP1000 reactors built in the U.K.," said Mike Tynan, Westinghouse's vice president for the U.K., Middle East and Egypt. "This [announcement] will open the way to construction of the first EPR in the U.K. and all the benefits our low-carbon technology will bring in terms of employment and assured energy supply," said Alain-Pierre Raynaud, Areva's chief financial officer.