Individuals who've received cancelation notices on their health insurance policies in Connecticut must now find an alternative. Governor Dannel Malloy said he will not allow insurance companies to renew plans that don't comply with the Affordable Care Act, rejecting President Obama's fix announced last week.
The U.S. Food and Drug Administration is taking steps to reduce artificial trans fats in processed foods. According to the agency, the move could help prevent 20,000 heart attacks and 7,000 deaths each year. This means manufacturers, retailers, and restaurants could have to reformulate some of their recipes.
State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.
But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.
Technology giant Pitney Bowes has announced it will remain in Stamford, ending a months-long search for a new location. The company will also add 200 new jobs in Connecticut, after striking a deal with the state for a low-cost loan.
United Technologies is to donate $10 million to UConn to found a new engineering initiative. The UTC Institute for Advanced Systems Engineering, as the new partnership will be known, is expected to be accepting students by next spring.
In a settlement deal, JPMorgan Chase has agreed to pay some $13 billion in fines and other payments related to mortgages and mortgage securities that helped cause the financial crisis that began in 2007.
Originally published on Tue November 19, 2013 5:38 pm
In an agreement settling many U.S. claims over its sale of troubled mortgages, JPMorgan Chase will pay a record $13 billion, in a deal announced by the Justice Department Tuesday. The plan includes a $4 billion payment for consumer relief, along with a payment to investors of more than $6 billion and a large fine.
The latest updates on this story are at the bottom of this post. We've also added a few key points to the main post.
When we think of jobs in Connecticut, the call center industry isn't the first thing that comes to mind. But according to the Communication Workers of America, there are more than 49,000 call center jobs in the state: people answering phones for companies like AT&T, Comcast, Verizon Wireless, and Cablevision.
Thirty-seven companies have applied to the state for the right to produce or dispense medical marijuana. The Department of Consumer Protection said it expects to award licenses under the state's new medical marijuana law early next year.
The Department of Revenue Services said it collected almost $180 million in back taxes through a two-month-long amnesty program. That's far in excess of the $35 million it set as a goal at the beginning of the amnesty.
Originally published on Mon November 18, 2013 8:45 pm
JPMorgan Chase & Co. will pay $4 billion to consumers who were hurt by faulty mortgage underwriting, part of a larger $13 billion deal to settle the bank's liability in the collapse of toxic securities during the housing crisis.
When the Affordable Care Act is fully implemented, large companies will be subject to a penalty if they don't provide coverage for their workers. But life is also changing in unexpected ways for small companies as the health care rollout continues.
Connecticut's gas utilities are asking regulators to lower the amount they'd have to charge businesses that sign up for new gas service. The request comes as regulators debate the final shape of the state's new comprehensive energy plan.
Originally published on Fri November 15, 2013 11:32 am
We told you this morning about changes announced in China regarding the country's one-child policy, as well as an announcement that it was ending its system of labor camps. But those aren't the only policy shifts by the Communist Party.
China also said Friday that it would loosen restrictions on foreign investment in e-commerce and other businesses, and allow private competition in state-dominated sectors.
The effort to oppose a new free trade agreement seems to have caused a rare split in the ranks of Connecticut's congressional delegation. Connecticut's five U.S. House members are all Democrats, and usually stand together on a wide range of issues. But a huge new free trade agreement currently being negotiated between the U.S. and ten other Pacific nations is causing some friction between colleagues.
Connecticut looks likely to maintain its level of job growth this year, according to the New England Economic Partnership, but the forecasting group says the state’s recovery will continue to lag behind the national average.
The town of Palmer, Massachusetts will hold a hand recount of its vote on a resort casino plan, but not until November 26. The Mohegan Tribal Gaming Authority had requested the recount after losing the poll November 5 by just 93 votes.
Insurance professionals heard on Tuesday an impassioned plea from the governor to keep regulation at the state level. Hundreds from the industry gathered at the Connecticut Convention Center in Hartford for an annual market forecast.
The end of an era in New Haven finally seemed like reality last week as Toni Harp won election to the mayor's office. The man she's replacing, John DeStefano, is following 20 years at the head of city government with another prominent role in New Haven. He'll become an executive at New Haven's Start Bank.
Originally published on Thu November 7, 2013 11:04 am
Eight months after the company he founded had a big public relations problem because too much of some women's backsides could be seen through its yoga pants, Lululemon founder Chip Wilson has put the story back in the news.
"Quite frankly, some women's bodies just actually don't work" in Lululemon's pants, Wilson said this week on Bloomberg Television's Street Smart.
"It's about the rubbing through the thighs," he added, and "how much pressure is there."
Most of us have gone through the process of buying an automobile. It can be both exciting and excruciating. And sales are up to almost pre-recession levels. A boom caused by “more widely available credit, an increasingly aged fleet, and a host of new models.”