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Business news

Kenneth Lu / Creative Commons

Connecticut businesses are increasingly making their living selling goods and services overseas. A survey by the Connecticut Business and Industry Association says the number of companies in the state exporting has grown from 53 percent to 79 percent in the last eight years. 

EyeLights/iStock / Thinkstock

Unexpected price spikes in home energy bills have been a focus for legislators this session, but a new study says even programs designed to lessen the impact of your monthly bill could still be impacting your wallet. 

Tanger Factory Outlets

The Tanger Outlet mall that opens at Foxwoods on Thursday morning could bring two to three million new visitors to the casino each year. That’s the bet that the casino’s owners are making with the new $120 million destination retail venue. 

Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland and UBS AG have agreed to plead guilty to felony charges and pay billions in criminal fines, the Department of Justice says. The offenses range from manipulating the market price of U.S. dollars and euros to rigging interest rates.

Harriet Jones / WNPR

A large number of gun parts were seized by federal investigators from a Connecticut manufacturer, according to a report in the Hartford Business Journal. The paper said 3,000 assault rifle parts were taken from Stag Arms in New Britain as part of a larger investigation into possible illegal activity. 

CT-N

State regulators have so far heard two days of testimony on how and whether to allow the Connecticut’s second largest electric utility to be taken over by a foreign corporation.

Pratt and Whitney

Pratt and Whitney says it's signed a deal to monitor engine data for customers of the Canadian plane maker Bombardier. It's the first major win for Pratt's data service, which it rolled out earlier this year.

Sarah Simpson / Creative Commons

Eversource Energy, the former Northeast Utilities, has found itself placed last in a ranking for customer satisfaction. 

Wage theft is rampant in the booming residential construction industry in Massachusetts, according to research from UMass Amherst.

     It has become standard practice in the home building industry in Massachusetts for subcontractors to illegally misclassify workers -- particularly immigrants — as independent contractors. The workers sometimes go weeks without pay, get no compensation for overtime, and are often paid less than they were promised. 

   Tom Juravich, a Umass Amherst labor professor detailed the abuses in a new paper.

Adavyd / Creative Commons

Small businesses owners descended on the Capitol to protest proposals for tax hikes in the Democrats’ draft budget. At a public hearing organized by Republican lawmakers, companies provided seven hours of testimony on the budget bill, which would extend sales tax to a new range of services. 

Jay Cox / Creative Commons

Business closures were up sharply in Connecticut in the first quarter of this year. New data from the Secretary of the State’s office show that almost 3,300 companies closed their doors between January and March.

ShellVacationsHospitality / Creative Commons

In the United States, men named John, James, Robert, and William hold more corporate board seats than women hold altogether. It’s a pretty striking reality, which begs the question: Why aren’t there more women in corporate America? 

Updated at 9:55 a.m. ET

The U.S. economy added 223,000 jobs in April, hewing close to expectations from economists, but the numbers fell short of a threshold that forecasters believe would signal an early rise in interest rates.

The unemployment rate dipped to 5.4 percent, according to data released by the U.S. Labor Department's Bureau of Labor Statistics.

Courtesy Alexion Pharmaceuticals

Alexion Pharmaceuticals, the Cheshire-based company, will cut an $8.4 billion deal to buy another drug maker. Alexion says it has an agreement to buy Synageva BioPharma, located in Lexington, Massachusetts, for the equivalent of $230 a share. 

FuelCell Energy

The world’s largest fuel cell park could be built in Connecticut. The park, which would occupy eight acres in Beacon Falls, would produce 63 megawatts of power, making it four megawatts bigger than the world’s current largest installation, near Seoul, South Korea. 

The Connecticut Mirror

Waterbury Hospital has found a new buyer. The financially troubled institution could be acquired by a California-based hospital group.

Chion Wolf / WNPR

The chairmen of the Mohegans and the Mashantucket Pequots made overtures to the Hartford-area business community on Monday, taking questions on their plans for a third Connecticut casino. 

Harriet Jones / WNPR

Governor Dannel Malloy wants to sell his transportation plan to businesses as a way to boost economic growth. He began with a company that likes to think differently about the way its employees get to work: insurance giant Travelers.

Living the Freelancer Life

May 5, 2015
Creative Commons / Markus Spiske, raumrot.com

We all know that the days of punching our clock for exactly forty hours is over. One of the alternatives that has risen in its place is what's called the "gig economy": Americans are casting off the traditional full-time job to freelance, moonlight, and temp their way to financial success.

Creative Commons

Two UConn professors who’ve been accused of misusing funds from the National Science Foundation didn’t fully read documentation that required them to disclose a conflict of interest, according to state auditors.

David Davies / Creative Commons

Health insurer Anthem failed to address the massive data breach of customers’ personal information in its announcement of quarterly results Wednesday. 

Jason Tester Guerrilla / Creative Commons

After a year in Connecticut, Uber says it made over $8 million in sales for its services in New Haven, Fairfield, and Hartford Counties.

Noel Hendrickson/Digital Vision / Thinkstock

Connecticut motorists are paying about 13 cents a gallon more for gasoline this week than last, according to the weekly survey by AAA.

Mohegan Tribal Gaming Authority

The Mohegan Tribal Gaming Authority -- the body that runs the Mohegan Sun casino -- has entered a partnership to to develop an entertainment resort at a South Korean airport. The MTGA says it will work with the Incheon International Airport Corporation to build what they're describing as a gateway entertainment city.

Sujata Srinivasan

Connecticut’s labor market rebounded in March, adding 4,000 jobs. That came after a weak February where the state lost 2,900 positions. 

Fifty years ago this week, a chemist in what is now Silicon Valley published a paper that set the groundwork for the digital revolution.

You may never have heard of Moore's law, but it has a lot do with why you will pay about the same price for your next computer, smartphone or tablet, even though it will be faster and have better screen resolution than the last one.

Ken Teegardin/SeniorLiving.Org / Creative Commons

Connecticut should act to close loopholes that allow big corporations to pay less tax. That’s the recommendation of pressure group ConnPIRG, which says small businesses in the state pay thousands of dollars extra each year to make up for corporate tax avoidance. 

Daniel Borman/flickr creative commons

The Department of Revenue Services said the amount of tax fraud that it has identified and prevented this year is substantially higher than in previous years. 

Lockley / Creative Commons

General Electric has posted a loss in the first quarter, because of the sale of large parts of its financial arm.

The Fairfield-based conglomerate took a one time charge of $16 billion in connection with the massive reshaping of its portfolio — selling off most of GE Capital, which became the cornerstone of its profits in the last decade. 

A string of insults aimed at a woman who works at a towing company were recorded by a surveillance camera. Now they've come back to sting sports reporter Britt McHenry. After the video emerged of McHenry, 28, dishing out profane verbal abuse, ESPN announced she'll be punished.

"Britt McHenry has been suspended for one week effectively immediately," the media company said.

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