Latest news with #costreduction
The Independent
3 days ago
- Business
- The Independent
The cost of home renovations has become a lot cheaper
Analysis by the Checkatrade Home Improvement Index reveals that the typical costs for various home renovations have decreased in recent months. Significant price drops have been observed for bathroom, kitchen, and bedroom fittings, with average costs falling in the second quarter of this year. Other home improvement services, including painting and decorating, window and door fitting, and plastering, have also seen price reductions. Checkatrade attributes these falling prices primarily to a reduction in material costs, indicating a return to more typical market levels. Air conditioning prices have also recently fallen, with data suggesting that installing air conditioning could increase a property 's value.
RNZ News
4 days ago
- Business
- RNZ News
Will the government's changes bring down building costs?
Building and Construction Minister Chris Penk said the change would have the potential to reduce total building costs by thousands of dollars. Photo: RNZ / Samuel Rillstone Opposition parties say while the devil will be in the details on the government's latest building products changes, they support in principle what looks like a "sensible" change. But Labour and the Greens are also criticising the coalition's cancellation of hundreds of construction projects, saying that is what has led to a downturn in the industry. They also say delaying changes to the Building Code will mean New Zealand lags behind the rest of the world. The government on Sunday announced it would be releasing a list of overseas certification schemes that would automatically qualify products for use in New Zealand . Building and Construction Minister Chris Penk said the list would "have the potential to reduce total building costs by thousands of dollars when building a home". "There are thousands of well-made, high performing products that have been tested against rigourous international standards but have faced barriers for uptake here, purely because they have not been specifically tested against our own standards. From tomorrow it will be much easier to use plasterboard manufactured in New Zealand, Australia, UK, Europe and the United States," he said. "This is just the beginning of our work to open the door to more building products, lower the cost of homes and turbo charge the construction sector and there will be more to come." He also announced a pause on "any new major changes to the Building Code system" and shifting instead to a "predictable three-year cycle for Building Code system updates". "This new approach will give businesses the clarity they need to prepare in advance, rather than constantly having to react to unexpected rule changes." The government will be releasing releasing a list of overseas certification schemes that would automatically qualify products for use in New Zealand. Photo: 123RF ACT's Building and Construction spokesperson Cameron Luxton was a builder in 2022 during the plasterboard crisis that saw some builders paying six times the standard price for 'GIB' branded plasterboard. "I had designers trying to get changes to the existing consents so that we could use other types of wall lining ... if we could have recognized overseas plaster boards and the components around their systems, we would have been able to get things built in New Zealand a lot easier and a lot quicker during that time," he said. "Those crazy days of the post-Covid building construction boom with us at the moment but that doesn't mean that we shouldn't be focusing on getting the price of all building down." ACT's Building and Construction spokesperson Cameron Luxton Photo: VNP / Phil Smith He said the government's approach was almost exactly the same as what ACT campaigned on. "What we campaigned on was a recognised list of products. The bill came into the house as that, it's been through select committee, we've come out the other side with it being schemes, standards and products. "Minister Penk has done an incredibly good job engaging with the industry and making sure that this bill works - it's so close to ACT's you couldn't find much air between our original policy and this one, it's the same principle, called some different things." Both Labour and the Greens supported the bill through the legislative process. Labour's Building and Construction spokesperson Arena Williams said it was likely to make it easier for building products to get into the New Zealand market, and increase competition - but that doing so was one of the recommendations of the Commerce Commission study launched under Labour. "We think this is an important step, but the government has talked a big game on lowering the cost of building because that's an excuse for absolutely collapsing the building and construction sector and seeing 17,000 jobs lost since the day of the election." She pointed to a range of projects that had been cut - Kāinga Ora public housing, school builds, the downgrading of hospital builds - saying that had directly led to those jobs being lost. Labour's Building and Construction spokesperson Arena Williams. Photo: VNP / Phil Smith The minister was now admitting the solution would not be a silver bullet for the sector, she said. "Now they're saying this will only be part of the solution and it won't do everything that's needed to bring costs down ... they have no answer for a building and construction sector that's on its knees, it's slumped lower than it did in the global financial crisis, and we're seeing thousands of young Kiwi builders going offshore." Announcing the change without releasing the detail until the next day was "an unusual way to do things," she said. Williams said she planed to carefully examine the standards when made public, to ensure they were sensible. Green Party Building and Construction spokesperson Julie Anne Genter took her criticism of the approach further. "We see every week pretty much announcements on a Sunday don't have any substantive new actions or information, and in the last few weeks, it's been related to the building sector or infrastructure, because the government is desperate to turn around the narrative. "This is very much a government that is focused on PR spend more than substance." She said the changes themselves "could be great or it could be terrible, depending on which building products and which licensing schemes they're looking at". "The devil will be in the detail. The detail hasn't yet been released. But I really can say that the government has put the construction sector in a terrible position by cancelling hundreds of projects related to public homes, which we need now more than ever. I saw last month, one third of company liquidations for construction firms, and that was up on last year." She criticised the pause on Building Code changes. "That is a huge lost opportunity. The previous government had a work programme on building for climate change and it was going to address a lot of the issues that we have in terms of energy efficiency, resilience," she said. "The certainty is we're not moving forward with our Building Code, they're providing the certainty that we're going to lag behind most other countries and have a much longer period before we have sustainable, healthy buildings." "Ultimately, this is not enough to help New Zealand with the problems we're facing when they've cancelled so many public home builds." Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Yahoo
6 days ago
- Business
- Yahoo
Microsoft cuts another 9,000 roles in latest jobs cull
Microsoft is cutting about 9,000 jobs worldwide in the latest round of staff cuts as the US technology giant looks to slash costs. It is understood the job losses will impact less than 4% of its total workforce. A company spokesman said: 'We continue to implement organisational changes necessary to best position the company and teams for success in a dynamic marketplace.' It marks the biggest jobs cull since early 2023 when the company cut 10,000 workers – almost 5% of its workforce at the time – amid a move in the wider tech sector to scale back expansion seen during the pandemic. The latest cuts are thought to impact different teams and country operations as part of efforts to cut layers of management. The company's gaming business is among areas where Microsoft will 'end or decrease work', according to an internal memo. 'To position gaming for enduring success and allow us to focus on strategic growth areas, we will end or decrease work in certain areas of the business and follow Microsoft's lead in removing layers of management to increase agility and effectiveness,' Phil Spencer, Microsoft's chief executive of gaming, said. The cuts come after Microsoft axed around 6,000 roles in May and some 1,000 in January. Microsoft employed 228,000 full-time workers as of last June, the last time it reported its annual headcount. About 55% were in the US. Sign in to access your portfolio
Yahoo
7 days ago
- Business
- Yahoo
Stanley Black & Decker, Inc. (SWK): A Bull Case Theory
We came across a bullish thesis on Stanley Black & Decker, Inc. on Deep Value Capital's Substack. In this article, we will summarize the bulls' thesis on SWK. Stanley Black & Decker, Inc.'s share was trading at $69.80 as of July 15th. SWK's trailing and forward P/E were 29.58 and 15.82 respectively according to Yahoo Finance. Stanley Black & Decker (SWK), widely known for its power tools and iconic brands like DEWALT, CRAFTSMAN, and BLACK+DECKER, is undergoing a quiet but compelling transformation. The company has already executed $1.7 billion of a $2 billion cost-reduction plan, with gross margins rebounding to 31.2%—up 1,200bps from the trough—while operating leverage improves and inventories fall. Though 87% of revenue comes from its Tools & Outdoor division, its smaller Engineered Fastening segment serves critical applications in aerospace, auto, and industrial manufacturing. Despite its market leadership and ties to reshoring, infrastructure, and automation, the stock remains down over 65% from its 2021 highs and trades at less than 7× peak free cash flow. Management forecasts mid-single-digit organic growth, more than double industry norms, supported by housing recovery, falling interest rates, and potential policy tailwinds. Risks include prolonged weakness in housing, unresolved tariff headwinds of ~$100M annually, leadership transition friction with a new CEO starting in October, and the broader risk of a recession derailing tool demand. However, the turnaround strategy is showing real progress: core brands are gaining share, margins are expanding, and the balance sheet is cleaner. By 2028, with normalized 11% FCF margins on ~$17.6B revenue, the company could generate ~$1.94B in FCF. Applying a modest 18× multiple suggests a $34.9B valuation, over 3× today's $11.4B market cap—implying 205% upside, or a 37% CAGR. Without assuming a cyclical boom, Stanley Black & Decker represents a fundamentally de-risked, attractively priced turnaround story tied closely to America's rebuilding cycle. Previously we covered a standout on IHS Holding Limited by the same author in May 2025, which highlighted its CPI-linked tower model and strong FCF potential across emerging markets. The company's stock price has appreciated approximately by 7.5% since our coverage. The author uses an identical approach in the Stanley Black & Decker thesis, emphasizing its margin recovery and cost discipline. Stanley Black & Decker, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held SWK at the end of the first quarter which was 34 in the previous quarter. While we acknowledge the potential of SWK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None.
The Sun
23-07-2025
- Automotive
- The Sun
Struggling major carmaker to axe 500 jobs in ‘difficult decision' just 3 months after bombshell merger
A MAJOR carmaker is set to axe up to 500 jobs just three months after a shock merger. Back in April, the merger between a luxury supercar maker and an electric car start-up came as a shock. The merger between McLaren and Forseven could result in up to 500 job losses as part of a cost reduction process. It comes after several years of financial difficulty for the supercar company. After the pandemic it faced near bankruptcy in 2020, leading to significant restructuring. Sales continued to plummet in 2023, with the merger hoping to restore its financial position. A spokesperson said that they were proposing "a potential workforce reduction of up to 500 roles across the combined organisation". They added: "The realignment of roles and responsibilities is a necessary step in preparing for the coming together of our two businesses and will ensure that our operations are streamlined to enable resilience and success over the long term." The company said they would provide "comprehensive support and guidance to all those affected" while they try to minimise the impact on employees. "Looking ahead, we remain dedicated to expanding our portfolio of luxury vehicles and delivering the exceptional customer experiences that honour the McLaren legacy," the company said. A consultation process with its 2,500 employee workforce is already underway according to The Evening Standard. It reported that roles are expected to be cut in departments like design and engineering, IT, legal and HR. Jobs that are duplicated across the two companies are most at risk. The cuts could affect employees at McLaren's main base in Woking, in addition to its Bicester, Leamington and Surrey sites. McLaren merged with Forseven in April to form McLaren Group Holdings, with Forseven CEO Nick Collins leading. While McLaren has a long-standing history as a leader in the supercar market, Forseven is still relatively new. The British start-up includes more than 700 industry professionals who are working to launch a luxury range by 2030. An announcement on the Forseven website reads: "Forseven has merged with McLaren Automotive with one clear vision: to become a world-beating automotive business." Abu Dhabi investment company CYVN Holdings is set to finance the new company. As part of the merger, an estimated 300 roles have been created which could reduce the impact of redundancies. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of CYVN hopes to redefine the high-performance and luxury sectors. In a press rele a se announcing the merger, the company said it hoped to "transform McLaren into a high-performing British automotive business on the global stage." Jassem Al Zaabi said: 'I'm personally committed to making this vision a reality. It isn't just about investing, it is about shaping the future of McLaren as a brand, as a business and its place on the global automotive map. "We want to - and we will - push boundaries and deliver groundbreaking innovations that drive real progress in the sector. 'This is the start of an exciting new era for McLaren as a car brand and an automotive business." In addition to McLaren's Automotive business, he also promised to continue working on McLaren Racing's long-term success. This includes "supporting the team in building on their successes, winning more podiums, and inspiring fans worldwide." They added that more details about the vision and strategy going forward will be announced later this year. 2
