finance

Back9Network

The Back9Network, a cable and Internet-based network devoted to golfing that opened in Hartford with state assistance nearly two years ago, has suspended operations. Without elaborating Monday, Back9 cited a "temporary shortfall in capital."

The network said it is planning the next steps and will continue to seek long-term operating capital. 

Ethan Stock / Creative Commons

In a perfect world, we wouldn’t worry whether our food and working conditions were safe, or whether government regulators were keeping track of these things for us -- but we don’t live in a perfect world.

In fact, there’s a sense that if you run a big company, and you’re responsible for something really bad happening, that you’ll probably skate away with a slap on the wrist while somebody else has to live with the damage done.

A huge trove of leaked documents is shedding new light on the secretive Swiss banking industry.

The documents were downloaded by a former computer security expert at the giant bank HSBC, and they were released over the weekend by the International Consortium of Investigative Journalists.

Kuzma/iStock / Thinkstock

A Venezuelan hedge fund manager has been sentenced to 13 years in prison for running a massive Connecticut-based investment fraud scheme that involved hundreds of millions of dollars.

Francisco Illarramendi  expressed remorse during his sentencing Thursday in federal court in Bridgeport. He pleaded guilty to several fraud and conspiracy charges four years ago in what federal prosecutors have called their biggest white-collar criminal case ever in Connecticut.

A new report on the growth of court fines and fees that are charged to often-impoverished offenders is focusing on another group that pays: their families.

Jeff Cohen / WNPR

Republican legislative leaders held a press conference Thursday to call for changes in the state’s campaign finance laws, though leading Democrats said talking to them first might have been a better strategy. 

Joined by rank and file legislators, Senate Minority Leader Len Fasano and House Republican Leader Themis Klarides said state Democrats have consistently worked to undermine and erode the clean elections laws they worked to pass in 2005 after the conviction of former Governor John Rowland.

Chion Wolf / WNPR

Last week, Governor Dannel P. Malloy announced cuts to social services and health care in his second round of emergency rescissions to cut down the state budget deficit.

Malloy’s office projected a $121 million deficit last week. On Monday, the non-partisan Office of Fiscal Analysis estimated the deficit is closer to $202 million.

Chion Wolf / WNPR

Here's my favorite one. Eighty-four percent of Frenchmen rate themselves as above average lovers. Ninety-three percent of young drivers in another survey said they were above average. And, 68% of the faculty at the University of Nebraska place themselves in the top 25%.

All of those numbers reflect misplaced confidence. It seems to be genetically wired into us in certain ways.

The Archdiocese of St. Paul and Minneapolis has become the 12th U.S. diocese forced into bankruptcy by claims from alleged victims of clergy sexual abuse.

Chion Wolf / WNPR

Governor Dannel Malloy got a hint of the tough questions he may face over paying for his transportation priorities at Monday’s bond commission meeting. But the governor said he’s not yet ready to set limits on borrowing for this year.

CT-N

Governor Dannel Malloy announced that $5.75 million was approved Monday by the state Bond Commission to improve railroad stations on the Hartford Line and the New Haven Line. 

Andreas Poike/flickr creative commons

The end of the year is fast approaching, and our contributors on financial matters advise us to keep a close eye on capital gains.

Updated at 9:30 a.m. ET

Sen. Elizabeth Warren failed to stop a change in bank regulations last weekend, but she raised her profile yet again.

The Massachusetts Democrat tells NPR that her fight over a provision in a spending bill was a "warning shot." She intends to continue her fight against what she describes as the power of Wall Street, even though that fight brought her to oppose leaders of her own party.

vichie81/iStock / Thinkstock

Texas-based Tenet Healthcare has withdrawn a bid to buy five hospitals in Connecticut, citing regulatory demands. 

Post updated at 9:38 p.m. ET.

A massive federal spending bill finally won the House's approval Thursday night, less than three hours before a midnight deadline that threatened a federal shutdown. The measure's fate had been in doubt after it narrowly survived a rules vote earlier in the day. The final tally was 219-206.

Nathan Turner / Litchfield Jazz Festival

Several performing arts and literary publications in Connecticut have been awarded grants from the National Endowment for the Arts, totaling $290,000.

Oleksiy Mark/iStock / Thinkstock

United Technologies' stock has bounced back just a day after the departure of CEO Louis Chenevert. Shares in the Hartford based conglomerate ended Monday down 1.4 percent, following the shock announcement that former CFO Greg Hayes would take over the top slot. 

UTC

Investors and employees have been left baffled by the sudden resignation of Louis Chenevert, the chief executive of United Technologies. 

moodboard / Thinkstock

Despite an improving economy, Connecticut could be facing budget deficits of more than a billion dollars over the next three years. 

Chion Wolf / WNPR

Connecticut's Fourth District Congressman Jim Himes was in the running to lead the Democratic Congressional Campaign Committee but lost out to New Mexico congressman Ben Ray Lujan.

Connecticut Conference of Municipalities

An advocacy group for Connecticut's cities and towns is calling attention to what it describes as the disproportionate burdens on poor communities. 

Svigals & Partners

The state bond commission has approved a $5 million grant for the new Sandy Hook Elementary school. 

How much power should corporations wield in Washington? It's an enduring question — and now the Sunlight Foundation has devised a new way to gauge that power.

As Americans begin shopping again for health insurance under the Affordable Care Act on Saturday, they'll be wrestling with premiums, deductibles, out-of-pocket costs and other vague and confusing insurance-speak.

Believe it or not, that's the easy part compared with figuring out what health care actually costs.

Sal Morales of Miami bought insurance in March during the ACA's first enrollment period on the HealthCare.gov website.

Anthony Quintano / Creative Commons

One of the biggest American myths is limitlessness. You'd think by now we'd understand our own limitations but the American myth - and you can hear it on Rush Limbaugh every day - is one where the horizon goes on forever and more growth is always possible and any failure from Vietnam to the 2008 crash that we've ever had is just a case of failing to fully exert our exceptional American qualities. 

City of Bridgeport

An ex-employee has sued the Bridgeport Housing Authority, claiming she was fired to cover up $2 million in fraud and mismanagement she discovered. 

Updated at 1:15 p.m. ET

A federal judge today gave the OK to a bankruptcy exit strategy proposed by Detroit nearly 16 months after the city asked for protection from its creditors.

At a 1 p.m. ET hearing, Judge Steven Rhodes found that the plan was fair and feasible. He's expected to issue a written ruling later.

"This city is insolvent and desperately needs to fix its future," Rhodes said.

Harriet Jones

The state of Connecticut has cut a new deal with banking giant UBS, which it hopes will keep the company in Stamford for another seven years. 

NBC Connecticut screenshot

Treasurer Denise Nappier met her Republican challenger on Wednesday night for their first and only debate before the November 4 election.

Nappier and Tim Herbst spent most of the 25 minutes attacking each other in the West Hartford studios of NBC Connecticut.

Harriet Jones / WNPR

Electric Boat will use a $10 million loan from the state of Connecticut to buy and refit a building from nearby Pfizer. The Groton-based shipyard is launching a $31 million program to expand and upgrade its facilities.

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