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MDU Resources Reports First Quarter Earnings

MDU Resources Group Inc. reported first quarter consolidated adjusted earnings of $22.8 million, or 12 cents per share, compared to $35.6 million, or 19 cents per share for the first quarter of 2014. On a GAAP basis the company reported a loss of $306.1 million, or $1.57 per share, compared to first quarter 2014 earnings of $56.5 million, or 30 cents per share. GAAP results reflect a $315.3 million after-tax noncash write-down of oil and natural gas properties pertaining to a quarterly ceiling test.

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Housing Starts Jump to Highest Level Since 2007

Nationwide housing starts rose 20.2 percent to a seasonally adjusted annual rate of 1.135 million units in April from an upwardly revised March reading, according to newly released data from the U.S. Commerce Department. This is the highest level of housing production since November 2007.

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New Construction Starts in April Advance 10 Percent

The value of new construction starts in April increased 10 percent from the previous month to a seasonally adjusted annual rate of $698.7 billion, according to Dodge Data & Analytics. The nonresidential building sector came in particularly strong, lifted by the inclusion of two massive projects as April starts – an $8.1 billion petrochemical plant in Louisiana and a $1.2 billion office/retail high-rise in New York.

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Guest Editorial: Congress Falls Short on ’16 Transportation Budget Resolution

Just about any driver who has hit a pothole or sat in bumper-to-bumper traffic knows that our nation’s roads, bridges and highways are in bad shape. The American Society of Civil Engineers gives our nation’s roads a D+ grade. There are 10,000 bridges in the U.S. that are so old that they qualify for Medicare and, yet, are still bearing thousands of tons of freight and people every day.

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