More young people are moving to the heart of cities, according to a report from think tank City Observatory. This includes cities that we usually think of as “economically troubled,” like Buffalo, Cleveland, and, yes, even Hartford. Some of these cities have been losing their overall population, but gaining in their numbers of college graduates in their 20s and 30s.
Connecticut’s urban areas remain among of the most economically productive areas in the world, even while they struggle to recover from the great recession. In fact a new study from the Brookings Institution pegs Hartford as having the second highest economic output in the country, and the fourth highest in the world.
The Global Metro Monitor takes the economic temperature of 300 major cities around the world. Greater Hartford lies fourth in the world in terms of gross domestic product per capita, a measure of how much economic value is produced compared to the size of a metro area, including corporate profits as well as personal incomes. Only Zurich, Oslo and San Jose rank higher. Bridgeport, whose metro area include Fairfield County, lies eighth.
But another story is told by the most recent data on recovery from 2014.
World Wrestling Entertainment is being sued by two of its former wrestlers who claim they suffered repeated concussions during their time with the Stamford company.
Vito LoGrasso and Evan Singleton have filed what they hope will become a class action lawsuit in federal court in Philadelphia. They accuse WWE of "selling violence" and ignoring the harm to their employees, which they say includes brain damage.
There’s speculation that the recent changes in personnel at United Technologies could mean the conglomerate is mulling major new acquisitions or other structural changes.
New CEO Greg Hayes is shaking up the C-suite, with the departure of Alain Bellemare, who headed up UTC Propulsion and Aerospace Systems. He won’t be replaced, but the company has elevated another executive, Mike Dumais to head of strategic planning.
Originally published on Tue January 20, 2015 12:07 pm
Americans increasingly see decently fast Internet as more like a functioning sewer line than a luxury.
And a number of cities are trying to get into the Internet provider business, but laws in 19 states hamper those efforts. President Obama announced this week that he wants to lift those restrictions, and supporters of what is known as municipal broadband can't wait.
The Internet has changed almost everything... especially newspapers. For many years, readers were able to access newspaper articles for free online. Stories were reaching more readers, but losing revenue. On WNPR's Where We Live, newspaper reporters and editors discussed the controversial "paywall."
Last month, The Hartford Courant followed the trend of newspapers across the country by implementing a paywall on its website.
We sit down with two editors to explain the change, and to talk more broadly about the status of "print" journalism today. What is working, and what’s not working, as publications grapple with an increasingly digital world?
Originally published on Wed January 14, 2015 8:17 pm
If you've traveled outside the U.S. recently, or sent your U.S.-made products abroad, you've probably noticed that the dollar is getting stronger. The stronger dollar is the sign of a healthier U.S. economy, but its strength has the potential to erode growth.
There are a number of factors behind the dollar's rise, says economist Jens Nordvig, a currency expert at Nomura Securities. The main one is the health of the U.S. economy.
Venezuelan President Nicolas Maduro is trying to persuade his fellow OPEC leaders to reduce oil production as the price of crude continues to slide and hurt the Venezuelan economy, which depends on oil for 95 percent of its export revenue.
Maduro was in Qatar this week, seeking billions to shore up his economy.
Governor Dannel Malloy has sharply rebuked his own utility regulators in a dispute over how the agency should be governed.
The commissioners of the Public Utility Regulatory Authority, headed by chairman Arthur House, wrote to Malloy at the end of last month expressing deep dissatisfaction with the decision four years ago to bring PURA under the Department of Energy and Environmental Protection.
Originally published on Mon January 5, 2015 6:45 pm
The price for a barrel of U.S. oil benchmark West Texas Intermediate fell below $50 Monday, matching levels seen in the spring of 2009. The drop is linked to both OPEC's boosted production and a stronger dollar.
Oil's latest fall came along with a dip on Wall Street, as the Dow Jones industrial average fell more than 330 points to finish at 17,501 — a drop of 1.86 percent that's also seen as a reaction to new instability in Europe.
Originally published on Mon December 29, 2014 6:35 pm
More than 60 million cars, trucks and SUVs have been recalled this year — nearly twice the previous record. That translates to nearly 1 out of every 4 cars on the road recalled for a safety-related defect.
But analysts say those recalls say more about the way the industry has restructured than about overall car safety.
T-mobile customers may qualify for a refund after the cell phone company agreed to a $90 million dollar settlement over allegations of mobile cramming. The practice of "cramming" includes when third-party companies add bogus charges to monthly bills.
Later stage manufacturing companies are not, as a rule, high on the venture capital radar. According to PriceWaterhouseCoopers MoneyTree Report, only three out of 53 VC financing transactions in Connecticut went to manufacturing firms last year. Of this, two were established businesses with a revenue-making product. So how are some manufacturers bucking the trend and attracting big VC investments?
Originally published on Mon December 29, 2014 12:13 pm
The economy was floored by the polar vortex early on in 2014 — plus, businesses and consumers were still a little dazed by a government shutdown and debt ceiling fight late in 2013.
Mark Zandi, chief economist at Moody's Analytics, says it all produced an anxious start to the year. "Yeah, a lot of worry, particularly because we had misstepped a few other times during the recovery," he says. "We had these false dawns when we really thought the economy was going to kick into gear and then we kind of fell back into the morass."
Originally published on Tue December 23, 2014 6:15 pm
Now that MGM has won Massachusetts regulatory and voter approval to build a resort casino in downtown Springfield the Las Vegas-based entertainment giant has employment and local purchasing commitments to keep.
Originally published on Wed December 24, 2014 8:32 am
Updated at 8:20 p.m. ET
More than 200 theaters will now show The Interview on Christmas Day, a spokesperson for Sony Pictures tells NPR.
Sony had pulled the controversial comedy that centers on a plot to assassinate North Korean leader Kim Jong Un after ominous threats were made, allegedly by a group that hacked the studio's emails. The nation's largest theater chains had also said they won't show the movie starring Seth Rogen and James Franco.