finance

Chion Wolf / WNPR

Connecticut’s new budget is just three months old, but the Malloy administration has just announced that it must make emergency spending cuts. 

"On FanDuel I've won over $62,000 — try FanDuel today."

"This is DraftKings. Welcome to the big time. You can play when you want with the team you want. Just pick your contest, pick your team, and pick up your winnings."

The plan for a new stadium for the Pawtucket Red Sox in Providence has hit a roadblock. RIPR political analyst Scott MacKay parses how this field of dreams turned into a nightmare.

epSos .de / flickr creative commons

Recently Yale economist Robert Shiller said in an essay in The New York Times that no one can say for certain what the stock market drop means. He did, however, say we'd all be right to exercise great caution now.

Harvard Law professor Lawrence Lessig met his self-imposed goal of crowdfunding $1 million by Labor Day, and Sunday on ABC announced he's running for the Democratic nomination for president.

Lessig, an activist with a grass-roots following among some progressives, says he's running on a singular platform — the Citizen Equality Act of 2017. It would expand voting access, ban gerrymandering and institute campaign finance reform.

Emilie Foyer / Creative Commons

One of the top economic issues for voters is the vast economic inquality in the country, according to Gallup polling.

Thomas Autumn / Creative Commons

A recent New York Times op-ed drew attention to Yale University’s endowment and how the money is spent. The report found more was spent on private equity fund managers than to students. This has prompted renewed debate and criticism over big endowments at big schools. But the argument isn’t new. This hour, a conversation with higher education experts about the management of endowment money at the nation’s elite schools.

Chion Wolf / WNPR

Governor Dannel Malloy says he last visited with General Electric two weeks ago, as the conglomerate prepares to make a decision about relocation. The governor spoke for the first time about the possibility that GE might leave.

Stocks opened Monday with a swan dive: The Dow Jones industrial average plunged about 1,000 points, or 5 percent, in just minutes.

By midday, enough brave buyers had waded back in to push up prices — up to where losses were only around 1 percent or so.

But that didn't last. Around 3 p.m., the Dow dropped again, sliding nearly 700 points.

Stress-filled minutes ticked down until 4 p.m.: CLANG, CLANG, CLANG.

The closing bell rang. Brows were wiped, and commentators scrambled to explain why investors had seen both panic selling and panic buying.

Led by an 8.5 percent drop in China's Shanghai composite index, U.S. and global stock markets took a dive Monday. Shortly after opening, the Dow Jones index fell by more than 1,000 points, or 5 percent. The Dow then zigzagged to close at 15,871, losing about 3.6 percent of its value.

Student loans have become an issue in the presidential campaign, especially on the Democratic side. And it's no wonder. There are more than 40 million Americans with some $1.3 trillion in outstanding student loan debt.

But people who study education finance say one widely popular proposal to help lessen the debt load may not be as good as it seems.

The first problem: the debt load

Updated at 2 p.m. ET

Greek Prime Minister Alexis Tsipras has announced that he will step down, paving the way for early elections following a bruising battle over austerity measures linked to a European bailout package that caused a major split in the leftist ruling party.

Marc A. Hermann / MTA New York City Transit

The governor of New York is reported to be courting General Electric to make a move across the state border. 

In a 24-hour marathon session, Greek lawmakers approved the draft of an 85 billion euro bailout reached earlier this week with international lenders — agreeing to many of the austerity measures that voters rejected in a referendum last month and sparking a rebellion in the ruling party ranks.

StockMonkeys.com on Flickr Creative Commons

A lawsuit against General Electric is being closely watched in boardrooms around America, as the company defends its decision to shut down its retiree health care plan.

Debora Timms

Members of Connecticut’s Puerto Rican community met in Hartford on Friday with U.S. Senators Chris Murphy and Richard Blumenthal to discuss Puerto Rico’s debt crisis.

Ryan Caron King / WNPR

Ninety-five people will lose their jobs at the state Department of Labor as Connecticut officials attempt to save $16 million a year in costs.

Sage Ross / Creative Commons

Aetna has reported second-quarter earnings of $731.8 million, a 33 percent bump on the same time last year, and a number that exceeded analysts’ expectations. 

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When the U.S. Securities and Exchange Commission subpoenaed campaign finance filing records for Hartford Treasurer Adam Cloud, investigators didn't say what they were looking for. But the commission has recently stepped up its enforcement of a rule that governs how investments advisors contribute to public campaigns. 

Anthem, Cigna Finalize Rumored Merger

Jul 24, 2015

A definitive agreement is in place for Anthem to take over Bloomfield-based Cigna. The deal comes nearly a year into talks, and a month after an earlier attempt was rebuffed.

Health insurer Anthem has struck a deal to acquire rival Cigna for $48 billion — a buyout that would create the country's largest health insurer by enrollment.

The combined entity would have an estimated revenue of $115 billion and cover 53 million people in the U.S.

Jeff Cohen / WNPR

The U.S. Securities and Exchange Commission has subpoenaed campaign finance records from Hartford city Treasurer Adam Cloud, just days before the city's Democrats meet to endorse a candidate for the upcoming election.

A new report says delays in building the two licensed resort casinos in Massachusetts could cost the state $ 1 billion in lost revenue. 

Lockheed Martin to Buy Sikorsky

Jul 20, 2015
Sikorsky Aircraft

Hartford-based United Technologies announced last month it would look into the sale or spin-off of its helicopter business, Sikorsky Aircraft of Stratford. Now Bethesda, Maryland-based Lockheed Martin will purchase Sikorsky for $9 billion.

Bullion Vault / Creative Commons

The history of gold is a history of beauty, bloodshed and obsession. Gold has been fought for, worn ornamentally, traded as tender and at times even worshiped. This hour, we continue to mine it, covet it, and find uses for it even King Midas himself would never have imagined.

But why has the allure of this precious metal endured for so long? Investors will say its rarity ensures its worth. Numismatists will point to its ancient uses as currency to justify the appeal. And scientists may point to its uses in electronics and space travel as a means of explaining its value.

Rikard Westman / Creative Commons

The rapper and actor known as 50 Cent has filed for federal bankruptcy protection, days after a jury ordered him to pay $5 million in an invasion-of-privacy lawsuit.

zimmytws/iStock / Thinkstock

As Greece seeks a new three-year bailout from other countries in the Eurozone, investors and businesses around the world -- including here in Connecticut -- are keeping an eye on the country's crumbling economy. 

Peggy Stewart / Western Connecticut State University

JP Morgan Chase has reached a $136 million agreement with Connecticut, 46 other states, and the District of Columbia, and has agreed to reform its debt collection practices. Attorney General George Jepsen said those practices hurt consumers.

c-George/iStock / Thinkstock

Connecticut’s new rules for its Rainy Day Fund could be a model for other states — that according to a new study by the Pew Charitable Trusts. 

Chion Wolf / WNPR

Connecticut's tax commissioner said his agency has unearthed about $85.8 million in uncollected tax revenue. 

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