Business

Business news

Rhode Island is gaining notice as a contender in the high-stakes battle over General Electric's possible relocation from Connecticut, thanks to the state pension overhaul spearheaded by Governor Gina Raimondo in 2011.

Ron Dauphin / Flickr Creative Commons

Electricity customers in Connecticut are getting some good news and bad news on winter heating costs.

Starwood

Starwood, the hotels group which is Stamford’s largest employer, is being bought by Marriott International. Marriott will pay $12.2 billion for Starwood. The combined company will be the largest hotel group in the world, with more than 5,000 properties.

Rennett Stowe / Creative Commons

Young people coming out of college today have a strong desire to do good in the world, but it’s not easy to find jobs with a social purpose. Instead, many are starting their own businesses, combining an entrepreneurial spirit with a social mission.

MGM officials will have a chance next week to explain to a skeptical public the reasons behind the proposed downsizing of the Springfield casino.

  City officials have arranged for MGM to make a public presentation Wednesday afternoon at the 300 seat City Stage theater.  MGM has been under fire in Springfield since disclosing last month, in a regulatory filing, plans to reduce the scope of the project by 14 percent.

Springfield Mayor Domenic Sarno has said his administration is carefully reviewing the proposed changes.

ctlottery.org

The Connecticut state lottery has suspended one of its games because of possible manipulation by retailers for their own gain.

Thimble Island Brewery

A recent deal to combine two of the largest beer conglomerates in the world could put the squeeze on Connecticut's 32 craft beer makers. 

myfuturedotcom / Creative Commons

Union leaders said they've reached a tentative deal that will stop a threatened strike at 20 Connecticut nursing homes and provide a $15 per hour minimum wage to certified nursing assistants. 

Harriet Jones / WNPR

For 40 years, Connecticut has been home to one of the titans of the Dow, General Electric. But now the state is playing a game of “will they or won’t they” with one of its most high profile corporate citizens. 

Harriet Jones / WNPR

Aerospace professionals from across the globe are in Groton this week, as local supply chain companies get an opportunity to network with overseas counterparts and with big U.S. defense companies. 

Jeff Cohen / WNPR

The Back9Network has been on life support since February, having burned through the millions of dollars it raised from the state and private investors. Now another group of people is being squeezed by Back9’s demise: unpaid contractors who built the network’s downtown Hartford studio. 

Like many trendy boutiques, there is a definite minimalist flair. Soft sweaters rest on antique tables and the hardwood floors gleam.

But this boutique in Huntington Beach, Calif., is owned by a name more well known for treasure hunting than couture shopping: Goodwill.

"Look at some of these great dresses here. We have Development, which is a great brand, we have Lee — these are ones kind of more known in the fashion industry than on the street," says Eric Smissen, the store's visual specialist.

Deadline Passes for Connecticut Tribal Casino Proposals

Nov 6, 2015
Bill Lile / Creative Commons

Connecticut communities interested in hosting a new tribal casino faced a closing date to submit their proposals.

Massachusetts gaming industry regulators are soliciting public comment on MGM’s proposed changes to the Springfield casino project.

In its most recent regulatory filing on the design changes, MGM says it expects as much as an 8 percent drop in casino traffic.

Gaming Commission Chairman Stephen Crosby and the other commissioners want to know the reasons for the proposed changes and the possible impact on jobs and revenue.

Pratt and Whitney

Connecticut defense contractors will soon have an opportunity to meet other businesses and government officials to boost exports and develop global business relationships.

Rep. Joe Courtney and Anne Evans, district director of the U.S. Department of Commerce in Connecticut, said an Aerospace and Defense International Trade Summit is scheduled for Nov. 8-10 in Mystic.

The top executive from MGM Resorts International reaffirmed his commitment to the Massachusetts casino project in Springfield this week and apologized for a communications breakdown with City Hall over a proposal to reduce the scope of the development. He also said more changes are in store for the $800 million project, but nothing he would consider major.

Known for its talented writers and in-depth reporting, ESPN's sports and culture website, Grantland, was suddenly shut down early Friday afternoon.

The sports media giant released a statement, saying Grantland was suspended, "effective immediately." The statement reads, in part:

"After careful consideration, we have decided to direct our time and energy going forward to projects that we believe will have a broader and more significant impact across our enterprise.

MGM Springfield

The head of MGM Resorts said the company made a mistake by not communicating a 14 percent reduction in size of the casino project to Springfield leaders.

After what Mayor Domenic Sarno described as “a frank discussion”, he said he accepts MGM’s apology for not giving him a heads-up about the casino design changes. MGM Resorts CEO Jim Murren took the blame.

People entering North Adams will soon see new signs that highlight the past, present and future of Massachusetts’ smallest city.

The U.S. economy grew at a considerably slower pace during the third quarter as companies cut back on the size of their inventories, the Commerce Department said.

Growth came in at an annual rate of 1.5 percent — a sharp slowdown from the 3.9 percent gain recorded in the preceding quarter. The economy has grown at about 2 percent so far this year.

Niall Kennedy / Creative Commons

Pratt & Whitney has congratulated Northrup Grumman on winning the contract to make the military’s next generation stealth bomber, but it still isn’t clear if the East Hartford jet engine maker will benefit. 

About 55 miles east of Capitol Hill, one small business — International Green Structures — is trying to stretch beyond its base in Stevensville, Md., to go global.

IGS, which has about 50 factory workers, makes fiberboard out of compressed wheat. The panels, used to build durable housing, are both "green" and red-white-and-blue-American-made.

Uber has shaken up what it takes to get from point A to point B in cities across the country with a simple premise: If you need a ride, a driver nearby could pick you up within minutes.

Behind that idea is an algorithm, which promises to keep supply and demand in constant balance, encouraging drivers toward busy areas and tempering customer requests by increasing the price of each ride. It's called surge pricing.

glegorly/iStock / Thinkstock

Federal labor officials said the unemployment rate in New England held steady in September at 4.6 percent.

Wikimedia / Creative Commons

A proposal to build a casino at Bradley International Airport to compete with a casino planned for nearby Springfield, Massachusetts, suffered a setback when Windsor Locks selectmen rejected the idea.

Back9Network flickr.com/back9network / Creative Commons

A husband and wife who allege they were duped into investing in the Back9Network now say that one of their signatures related to an investment was forged, and the dispute is playing out in state court. 

Tax Credits / Creative Commons

Are you wondering whether to buy or rent a home? Or how much to save for your child’s education? How much should you set aside for retirement, depending on your age? 

Volkswagen admitted it intentionally cheated on federal emissions tests. The German automaker now faces billions of dollars in fines and litigation, plus the cost of fixing some 11 million diesel cars worldwide.

That's just the company. The scandal is costing owners, too — at least those who are trying to sell their VW diesels. Not surprisingly, resale prices for the affected cars have been falling.

In America's fine-dining restaurants, how much workers get paid is closely correlated to the color of their skin.

Ryan Caron King / WNPR

After eight years without transatlantic flights, Bradley International Airport is expanding its international boundaries beyond Canada and Mexico. Starting next September, Connecticut travelers will once again be able to jet over the Atlantic Ocean without first driving to New York or Boston.

Pages