White House

Former Treasury Secretary Timothy Geithner will give a lecture series at Yale this fall, based on his experiences during the financial crash.


The market for fuel cells is growing, according to industry experts, despite the recent bankruptcy of one of Connecticut's largest fuel cell manufacturers.

The state Senate approved a $19 billion annual budget over the weekend. It postpones three tax breaks for shoppers and retired teachers as the state's surplus dissolves in the state’s sluggish economy. Democrats rallied around the package that provides funding for public education, housing, after-school programs, social service needs, and transportation infrastructure. The budget now awaits Governor Dannel Malloy's signature.

Pfizer finally fessed up and told the world that it wants to buy British drugmaker AstraZeneca. It wasn't a very well-kept secret.

The New York-based drugmaker confirmed publicly that it approached AstraZeneca in January about getting together. AstraZeneca, based in London, rebuffed the New Yorkers.

Jeff Cohen / WNPR

Even Hartford Mayor Pedro Segarra doesn't like the idea of selling more than $30 million in parking assets to balance his budget, but he said it's the only option he's got left. 

Pratt and Whitney

A $400 million tax relief package for United Technologies is on its way to Governor Dannel Malloy's desk after the legislation passed the state senate.

13 Jazz Artists Awarded Over $1.7 Million

Apr 23, 2014

Yesterday, the Doris Duke Charitable Foundation announced the recipients of its 2014 Performing Artist Awards, including 13 jazz and improvising musicians, who will receive at least $1.7 million in unrestricted grants in total.

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New London Mayor Daryl Justin Finizio has asked the state for help because the city is running out of cash, and won't be able to make its $1.7 million payroll this week. 

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The electronic lottery game keno could come to Connecticut after all. Keno surfaced at the very end of last year's legislative session as a way to balance the new two year budget. But earlier this year, when a $500 million surplus was announced, lawmakers distanced themselves from the bingo-like game, and a bill to repeal keno seemed like a done deal.

Netflix, buoyed by its foray into original productions such as the political drama House of Cards, said Monday it has added 2.25 million new customers and plans to raise its new-subscriptions rate by $1 or $2 a month.

The video streaming service reported first quarter earnings of $53 million, or 86 cents a share. Its share price surged by 6 percent following the announcement of earnings that compared with $2.7 million in the same period a year ago.

Chion Wolf / WNPR

Next year's municipal budgets across the state are beginning to take shape. In Hartford, Mayor Pedro Segarra will present his budget to the city council on Monday. It's got a big hole in it. 

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A Connecticut construction company will pay $2.4 million in fines for alleged fraud tied to a 2007 road project. The settlement is being hailed as one of the most important decisions in decades for minority business owners.

Kyle May / Creative Commons

Manafort Brothers, Inc. will pay $2.4 million in fines for alleged fraud tied to a 2007 road project. A Hartford-based firm has also now been identified at the center of the federal investigation.

Thousands of Massachusetts residents are being surveyed as part of multi-year, multi-million dollar research project on the social and economic impacts of introducing casino gambling to the state.

The members of the UMass Amherst led research team say initial results will be reported to the Massachusetts Gaming Commission in September. These findings will be the baseline that will be used to measure changes in problem gambling, domestic violence, housing prices and a host of other socio-economic factors as casinos open over the next one to three years.

When the Copper Beech Farm in Greenwich went on the market last spring at an asking price of $190 million dollars, it was the most expensive single-family home ever to hit the American market. Many people thought it wouldn’t close at nine figures. But it has.

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UConn's basketball dominance is great for school spirit, but it's also helping raise money the university puts towards improving its facilities.

Each year, the state treasurer's office issues UConn Bonds. If you buy them, you're investing in things like the improvements to the university's health center, or building new dorms or study halls on its various campuses.

Assistant Treasurer Sarah Sanders said they've always sold well each year since they were first issued in 1995. But this year was special.

A gambling slump is eating into the profits of Mohegan Sun, but the 2,000 tribal members who draw benefits from the massive casino aren't feeling the pinch.

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A group of undocumented students in Connecticut is urging state higher education agencies to allow them access to a state financial aid program, known as institutional aid. But higher education officials said their hands are tied.

J Holt

By the time Bristol's West End Pizza was ready to open its doors on Saturday morning, there were a dozen patrons already outside, waiting to get in. You may have heard of a flash mob. Well, this is a financial version. The family owned pizzeria was the target of a "cash mob," which is essentially a group of people joining forces to give a business a really good day. 

The U.S. Supreme Court on Wednesday struck down an overall cap on the amount that large campaign donors can give to parties and candidates in a two-year election cycle.

In a 5-4 decision split between conservatives and liberals on the high court, the court said the limits were a violation of the First Amendment.

Rowland Again In the Spotlight

Apr 1, 2014
Chion Wolf / WNPR

A former congressional candidate and her husband have admitted to conspiring with former Connecticut Governor John Rowland to pay him off the books for work as a campaign consultant.

It's a truism in the financial industry that women need to get more out of their money than men since they live longer and make less, especially if they take time out to care for children or aging parents. But it's also a given that they lack confidence when it comes to investing, something that's clear on a recent evening at the Women's Center in Vienna, Va.

Governor Dannel Malloy is running for a second term as governor. He made the announcement in Hartford today. Lt. Gov. Nancy Wyman will also be running for re-election. Malloy said because of the need to begin the process of setting up the infrastructure for fundraising in order to qualify for public financing, he and Wyman couldn't wait until the end of the legislative session in May to get started.

As the first woman to lead the International Monetary Fund, Christine Lagarde is among an elite group of people determining how money is saved, spent and invested worldwide.

It's not the first time she's been a "first." Lagarde was France's first female finance minister, and before that, the first woman to chair the global law firm Baker & McKenzie.

Ever since the Watergate era, taxpayers have been able to check a box on their federal tax returns and designate a little bit of their tax payment to help finance the presidential campaigns and wean politicians away from big donors.

The public financing program has had its ups and downs. But now President Obama is prepared to sign legislation that, for the first time, takes taxpayer money out of the fund.

First of all, let's pause to reflect on some of the great moments of American political conventions brought to you by presidential matching funds.

Facebook announced a pretty big purchase on Tuesday: The social media giant said it was acquiring Oculus VR, a company that makes virtual reality goggles, for $2 billion.

The deal includes $400 million in cash and 23.1 million shares of Facebook, which the company values at $1.6 billion.

Somewhere under all of that melting snow, there's a warming economy.

"Adverse weather conditions" have hurt economic growth so far this year, but things are headed in the right direction now, according to a forecast released Monday by the National Association for Business Economics.

"Conditions in a variety of areas — including labor, consumer and housing markets — are expected to improve over the next two years, while inflation remains tame," Jack Kleinhenz, NABE president and chief economist for the National Retail Federation, said in a statement.

Google. Twitter. Facebook. Back before they got big, companies like these were just startup ideas, born in dorm rooms and run out of garages. Then came the venture capitalists: rich, older men ready to fund the brilliant ideas of younger, creative men.

But what if you are a woman with a startup idea? A new study says you might not do so well. It's been well-documented that businesses started by women receive very little venture capital money.

Jeff Cohen / WNPR

Municipal leaders from across the state came to the capitol Wednesday to speak to legislators about their budget concerns. 

If you want to get an earful about paying for college, listen to parents from states where tuition and fees have skyrocketed in the last five years. In Arizona, for example, parents have seen a 77 percent increase in costs. In Georgia, it's 75 percent, and in Washington state, 70 percent.