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Yahoo
12 minutes ago
- Yahoo
Suffolk Hires PJ Johnson as Executive Vice President, Division Manager, to Strengthen Operational Excellence and Drive Strategic Growth Across the Northeast Region
Suffolk welcomes PJ Johnson to the Northeast Operations Team, bringing three decades of experience delivering complex, high-profile projects. BOSTON, August 18, 2025--(BUSINESS WIRE)--Suffolk, one of the most innovative and successful builders in the country, announced it has hired PJ Johnson as Executive Vice President, Division Manager, Northeast. In this role, PJ will oversee operational performance across Suffolk's Northeast region, working to strengthen project execution, drive performance across operational teams, and ensure alignment with company-wide priorities. His leadership will be key as Suffolk continues to expand its presence and take on increasingly complex work across sectors, while deepening its use of AI, data and advanced technologies to drive smarter, more efficient project delivery. PJ joins Suffolk after 30 years at Turner Construction, where he most recently served in a senior leadership role overseeing operations of the Boston Business Unit. His portfolio includes some of the region's most complex and high-profile developments, including the redevelopment of the historic Commonwealth Pier, MIT's flagship Lisa T. Su Building for nanotechnology research ( Harvard University's LISE building (Laboratory of Integrated Science and Engineering), and preconstruction for the Pardee School of Global Studies, Boston University's first fully mass timber high-rise. "We are thrilled to welcome PJ to our leadership team," said Patrick Lucey, General Manager of the Northeast Division at Suffolk. "PJ brings a wealth of knowledge and experience from decades of successfully leading complex projects and teams. His leadership, operational expertise, and commitment to excellence make him an outstanding addition to our organization as we continue to grow and evolve." "I am excited to join Suffolk," said PJ. "The company's forward-thinking approach and use of technology to enhance project delivery and collaboration truly sets it apart. I am looking forward to working with our teams and partners to drive operational excellence and support Suffolk's continued growth across the region." PJ's appointment reinforces Suffolk's ongoing investment in leadership and operational excellence as it delivers complex, high-profile projects that shape skylines and communities across the Northeast. Suffolk is at the forefront of using technology and data to transform how buildings are planned, designed, and constructed. By leveraging AI, predictive analytics and digital collaboration tools, Suffolk empowers clients to make smarter decisions and ensures greater certainty and efficiency across the entire project lifecycle. Suffolk recently completed 10 World Trade, a 585,000 square feet office and lab building that has become a new architectural anchor in Boston's Seaport District. The company is currently delivering several other transformative projects across the region, including South Station Tower, a mixed-use high-rise above Boston's South Station; 585 Kendall, a cutting-edge life sciences research space, offices and public arts space and in Cambridge; the New England Patriots' new practice facility; operational improvements at Logan International Airport's Terminal E; and critical public sector work, including Diman Regional Vocational Technical High School and the new Quincy MBTA Station. About Suffolk Suffolk is a national enterprise that builds, innovates and invests. Suffolk is an end-to-end business that provides value throughout the entire project lifecycle by leveraging its core construction management services with vertical service lines that include real estate capital investment, design, self-perform construction services, technology start-up investment (Suffolk Technologies) and innovation research/development. Suffolk – America's Contractor – is a national company with more than $8 billion in annual revenue, 3,000 employees, and offices in Boston (headquarters); New York City; Miami, West Palm Beach, Tampa and Estero in Florida; Dallas; Los Angeles, San Francisco and San Diego in California; Las Vegas; Portland, Maine; New Haven, Connecticut; and Herndon, Virginia. Suffolk manages some of the most complex, sophisticated projects in the country, serving clients in every major industry sector, including healthcare, life sciences, education, gaming, transportation/aviation, federal government and public work, mission critical, advanced technology and commercial. Suffolk is privately held and is led by Founder, Chairman and CEO John Fish. Suffolk is ranked #8 on ENR's list of "Largest Domestic Builders" and #8 on its list of "Top CM-at-Risk Contractors." For more information, visit and follow Suffolk on Facebook, Twitter, LinkedIn and YouTube. View source version on Contacts Media Contact Information: Dan Antonellisdantonellis@ +1 (617) 517 4232 Sign in to access your portfolio
Yahoo
12 minutes ago
- Yahoo
Italy's Key Yield Nears France as Traders Rethink European Risk
(Bloomberg) -- The once-yawning gap between Italian and French benchmark borrowing costs shrunk to below 10 basis points, reflecting a shift in how investors rank European government debt. Less than three years ago, Italian 10-year bond yields were nearly 200 basis points more than the equivalent French rate. That difference has since plunged to the narrowest since 2005. Yields on shorter-dated Italian bonds have already fallen below those on French peers. The US-Canadian Road Safety Gap Is Getting Wider A Photographer's Pipe Dream: Capturing New York's Vast Water System Festivals and Parades Are Canceled Amid US Immigration Anxiety A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Princeton Plans New Budget Cuts as Pressure From Trump Builds Strategists at Commerzbank AG last month forecast that the 10-year gap will close completely. If that happens, it would be the first time since the two yields have traded in line since 1998, according to data compiled by Bloomberg. The narrowing spread shows the long-standing demarcation between the 'risky' periphery and 'safe' core has become increasingly blurred. For years, Italian bonds offered a juicy pick-up to peers because investors demanded higher compensation for a tumultuous political backdrop and mountain of government debt. But Prime Minister Giorgia Meloni has ushered in an era of stability in Rome and efforts to consolidate debt are underway. In contrast, French debt was swept up in a rout last year after President Emmanuel Macron's snap elections threw a spotlight on the country's large fiscal deficit. While the bonds have since partly recovered, yields have settled at a higher level relative to peers than in the past. The move came as European bonds rose on Monday, paring a selloff from last week. Yields on 30-year German bonds fell as much as six basis points to 3.29%, while yields on the two-year tenor fell as much as two basis points to 1.96%. Italy's spread to other European nations, notably Germany, has long been an obsession for Meloni, guiding her decision-making on a wide range of issues, including banking and defense. Her approach has been shaped by the experience of former prime minister Silvio Berlusconi in 2011, who was ousted after spreads spiraled during the European sovereign debt crisis. Meloni now guides Italy's fourth-longest government since it became a republic, adding to a sense of stability that previous governments had difficulty projecting. Though growth remains sclerotic and is seen below 1% of output in 2025, investors have placed a big premium on her perceived ability to govern with a sizable and stable majority. --With assistance from Alice Atkins and Donato Paolo Mancini. (Updates with additional context in final two paragraphs.) What Declining Cardboard Box Sales Tell Us About the US Economy Foreigners Are Buying US Homes Again While Americans Get Sidelined Americans Are Getting Priced Out of Homeownership at Record Rates Living With 12 Strangers to Ease a Housing Crunch How Syrian Immigrants Are Boosting Germany's Economy ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
12 minutes ago
- Yahoo
Goldman Sachs economics team: More job report weakness is coming
The slowdown in the US job market isn't over — and it may get worse. That's the warning from Goldman Sachs (GS) economists, who said hiring momentum has weakened more than previously thought. Revisions to earlier data suggest payroll growth is running at levels too low to sustain full employment. "Our estimate of trend job growth is now clearly below even that low bar at 30k per month," Goldman Sachs economics analysts David Mericle and Jessica Rindels wrote. "Future revisions to job growth are more likely to be negative," they said, citing weakness in areas like healthcare payrolls, seasonal hiring, and the way government models account for new businesses. The sobering outlook came just days after President Trump criticized the bank's team on Truth Social for being "wrong" about past market calls and too negative about the economy. The message contrasts with the relatively steady unemployment rate, which has hovered near 4%. But while joblessness doesn't show major cracks, other measures are flashing yellow, Goldman Sachs said. Labor force participation has slipped, job openings have started falling, and hiring outside a handful of industries has slowed to nearly zero. That weakness matters for both the Federal Reserve and the White House. For the Fed, slowing payrolls strengthen the case for cutting interest rates to support growth. Goldman Sachs expects three quarter-point cuts this year — in September, October, and December — with potentially two more in 2026 if hiring stays soft. Read more: How jobs, inflation, and the Fed are all related For Trump, who has previously touted strong job creation as evidence of his economic record, any further cooling would undercut one of his key talking points. The Goldman Sachs team also pointed to structural shifts weighing on employment. Immigration has fallen sharply, which means the economy needs fewer new jobs each month to maintain full employment. Tighter immigration policies also suggest immigrant workers are less likely to work or be captured in official data. But the slowdown appears more severe than immigration issues. Sectors like healthcare and education, which had been adding jobs via "catch-up hiring" to compensate for pandemic-related understaffing, are no longer seeing significant growth. This has contributed to a general weakness in job creation. Other sectors, including technology, manufacturing, and retail, could also face labor force headwinds in the coming months, the Goldman Sachs analysts noted. Even modest additional softening could have outsized consequences. With the labor market already at the edge of what economists consider maximum employment, a low-turnover environment could make it harder for unemployed workers and new graduates to break in. That dynamic risks "locking out" parts of the labor force, even if unemployment doesn't surge, the analysts added. Additionally, special factors could weigh further on employment in the coming months, including cuts to the federal reserve workforce, the expiration of temporary protected status for some immigrants, and tighter immigration enforcement. Federal Reserve Chair Jerome Powell is set to deliver his most crucial policy speech of the year later this week at the annual Jackson Hole Economic Symposium. Investors are eager to hear his stance on a potential rate cut, a key question he is anticipated to address. Francisco Velasquez is a Reporter at Yahoo Finance. He can be reached on LinkedIn and X, or via email at Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
