economy

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Single-family home sales in Connecticut rose a bit over four percent in June, according to the latest report from The Warren Group, a banking and real estate trade publisher.

Jeff Cohen / WNPR

After missing his entire first season at Hartford’s Dunkin’ Donuts Park, Yard Goats owner Josh Solomon desperately wants the city to get the stadium finished for baseball in 2017.

But just in case, Solomon has apparently let Hartford officials know that he has options -- and one of them is to take his team elsewhere.

PBS Newshour

Connecticut Governor Dannel Malloy touted the accomplishments of Democratic governors at the party's national convention in Philadelphia Monday night.

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A new report predicts global mergers and acquisitions may drop by as much as $1.6 trillion over the next five years unless Britain quickly agrees to leave the European Union under terms that give it continued access to the single market.

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The latest jobs report released by the Connecticut Department of Labor showed the state added 7,900 new jobs in June, but there was a revision to the May numbers showing a loss of 4,000 jobs.

That leaves gains of about 2,000 jobs a month for the last two months.

Harriet Jones

The Connecticut Low Wage Employer Advisory Board is holding its third hearing on Wednesday in Bridgeport. 

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The world’s biggest hedge fund, Westport-based Bridgewater Associates, appears to be cutting back on hiring.

The New York Times reports that the firm was known for hiring hundreds every year, but the newspaper cited anonymous sources who say that in recent weeks dozens of interviews have been canceled.

It's only been out a week, but Pokémon Go is making more money than a Meowth using Pay Day.

Tourism professionals have warned that eliminating funding for Connecticut’s regional tourism districts risks hurting the state’s economy. 

Harriet Jones / WNPR

Connecticut's new Port Authority has taken control of the state pier in New London, part of what it says will be a comprehensive maritime strategy for Connecticut. 

For American consumers there's a bit of economic silver-lining in the United Kingdom's vote to exit the European Union last month: Lower mortgage rates.

In the week after Brexit, the interest rate on 30-year fixed mortgages fell to their lowest levels in more than 3 years. And that spurred a boom in mortgage applications that, experts expect, will continue.

Spencer Cullen is a loan originator for CRM Lending in Tysons Corner, Va. Since the Brexit vote, he's seen business increase 60 percent to 70 percent.

In June, U.S. employers added 287,000 jobs — a very strong number that provided some reassurance the economy is still on track.

The June hiring surge, reported Friday by the Bureau of Labor Statistics, far exceeded projections. Analysts had expected the economy to add some 170,000 jobs.

Harriet Jones / WNPR

Connecticut-based GE Capital is no longer too big to fail. 

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Michigan is not the only state with a water crisis on its hands. Right now, communities in New York, New Hampshire, and Vermont are grappling with their own water contamination challenges. It’s just that for these states, the problem does not stem from corrosive water or aging lead pipes, but from a toxic chemical known as PFOA. 

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Europe is Connecticut’s number one trading partner, so the seismic events of last week, as the U.K. voted to leave the European Union, are reverberating here as well. 

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A federal judge has dismissed a lawsuit by casino developer MGM Resorts International challenging the constitutionality of a Connecticut law creating a process for a possible third casino along the Massachusetts border.

Updated 9:42 a.m. ET

Voters in the U.K. have decided to leave the European Union, a decision that has shocked Europe, shaken global markets and pushed Prime Minister David Cameron to announce his upcoming resignation.

The EU referendum vote was decisive — 52 percent to 48 percent in favor of dissolving the United Kingdom's 43-year membership in the European community. But Northern Ireland and Scotland voted in favor of remaining, raising the specter that the United Kingdom itself may break apart.

Tony Thompson hopes the United Kingdom votes on Thursday to leave the European Union. Standing in a green smock behind his meat counter in the town of Romford, a short train ride from central London, the 58-year-old butcher explains why in four words.

"Got to stop immigration," says Thompson. "It's only an island. You can only get so many people on an island, can't you?"

Kaleider

It's 5:00 pm. You're at the Quinnipiack Club in New Haven, where you've been shut up in the library. A big, red, digital clock sits in the corner, counting down from 90 minutes.

You and 14 other people sit around a table. In the middle of the table sits $300. An audience looks on as you and the others try to figure out what to do with this stack of cash before the time runs out.

The U.S. economy added just 38,000 jobs in May, according to the Bureau of Labor Statistics in its monthly report — far fewer than the 160,000 that economists had anticipated.

NPR business editor Marilyn Geewax called the number "shockingly low."

The unemployment rate declined by 0.3 percentage points, the Bureau says, to 4.7 percent — but that can be attributed to people dropping out of the workforce, Marilyn says.

Naval Submarine Base New London

For a century, Groton, Connecticut has been home to the Naval Submarine Base and Training School. It’s turned into an economic staple for the region with the presence of manufacturer Electric Boat. The state is celebrating one hundred years as the "Submarine Capital of the World." This hour, we discuss the history of the submarine industry and how it fares today. Even after all these years, the vessels continue to play an important role in U.S. military strategy.

After several boom years while the rest of the economy struggled, farming is entering its third year on the bust side of the cycle. Major crop prices are low, while expenses like seed, fertilizer and land remain high. And that means farmers have to get creative to succeed.

Modern crop farms in the Corn Belt are sophisticated businesses. So put aside your notions of bucolic red barns surrounded by a few cows. And pull out your best business school vocabulary, because crops are commodities.

Chion Wolf / WNPR

The legislature has set lofty new goals for the state to create private sector jobs and boost its population.

Chion Wolf / WNPR

The state’s largest business organization seems to have angered legislative Republicans with its support of the proposed budget. 

Just a few months ago, the price of a barrel of crude oil reached a 30-year low. That price has inched up since then, but still, it remains 60 percent lower than it was in the summer of 2014.

As Bernie Sanders tries to keep his fight for the Democratic nomination for president going amid primary losses in recent weeks, his campaign is starting to talk about influencing the party platform.

Economists at UMass Amherst have been providing academic fodder for Sanders’ proposals.

Saying he was making a "tough decision," Puerto Rican Gov. Alejandro García Padilla announced the island would not make a more than $400 million debt payment due today.

"I've had to choose and I have made a choice," García said in a message to the commonwealth. "I've decided that your basic needs come before anything else."

NPR's Jim Zarroli filed this report for our Newscast unit:

Senate Bill One is usually the flagship legislation of any session, the Big Idea that signals lawmakers’ vision for the state. This year, it’s all about building entrepreneurship in Connecticut, but it hasn’t received the kind of fanfare you might expect. 

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For the United States, the 20th century marked a period of vast and unparalleled prosperity thanks -- in large part -- to an economic model known as the “mixed economy.” Under that model, the nation's government and markets operated in tandem, creating a robust coalition from which health, wealth, and well-being not only grew, but flourished. 

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The effect of a declining middle class is everywhere -- the medically uninsured or underinsured, the heroin epidemic, declining life expectancy for middle-aged white men, flat wages, weakened unions -- the list goes on and on.

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