Personal Finance

U.S. Bureau of Economic Analysis

Connecticut's gross domestic product grew by 0.9 percent in the first quarter of 2016, according to the Bureau of Economic Analysis.

That lagged behind both national GDP growth of 1.2 percent and New England's 1.5 percent for the quarter. Connecticut’s GDP growth was the lowest in New England.

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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.

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

President Obama is expected to sign a federal GMO labeling bill into law soon. This would nullify Vermont's labeling law, as well as laws passed by Connecticut and Maine that have not been enacted yet — effective immediately.

The state’s largest business organization recently released its first survey exclusively aimed at small businesses. The Connecticut Business and Industry Association's survey found that hiring was up, but it also found small businesses have some bones to pick with their state legislators.

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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.

The Justice Department is suing to block two proposed mergers between major health insurance companies, saying the deals violate antitrust laws and would lead to higher health care costs for Americans.

U.S. Attorney General Loretta Lynch explained the decision at a press conference:

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The U.S. Department of Justice filed two anti-trust lawsuits on Thursday to block the mergers of four of the nation’s five largest health insurance companies.

Office of Gov. Dannel Malloy

Connecticut Insurance Commissioner Katharine Wade contended she has no conflict of interest that would prevent her from overseeing a proposed merger between Anthem and Bloomfield-based Cigna.

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The Department of Justice is reportedly preparing to block two large insurance industry mergers that involve Connecticut-based companies Aetna and Cigna.

Harriet Jones

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

Citing "a culture of deeply-rooted corporate arrogance," New York, Massachusetts and Maryland have filed civil lawsuits against Volkswagen, accusing the automaker of violating those states' environmental laws when it sold cars under the "clean diesel" label that were actually rigged to trick emissions tests.

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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.

Mary Anne Williams

Your home is one of your biggest investments, but some Connecticut residents are seeing that investment crumble because of failing foundations. This hour, we find out what the state is doing to help those whose homes and futures are -- quite literally -- falling apart beneath them. 

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

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Insurance brokers are concerned that they may no longer get commissions for business they sell on the state’s healthcare exchange, Access Health CT.

After years of bitter debate and legislative stalemate over the labeling of genetically modified ingredients, a compromise proposal sailed through Congress in breathtaking speed over the past three weeks.

The House of Representative passed the measure on Thursday with solid support from both Democrats and Republicans. It now goes to the White House, where President Obama is expected to sign it.

Ryan Caron King / WNPR

Bridgeport Mayor Joe Ganim is struggling to win support for a program to help fellow ex-convicts find jobs.

President Obama on Monday called on Congress to revisit the controversial idea of providing a government-run insurance plan as part of the offerings under the Affordable Care Act.

What's been described as the "public option" was jettisoned from the health law in 2009 by a handful of conservative Democrats in the Senate. Every Democrat's vote was needed to pass the bill in the face of unanimous Republican opposition.

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.

The U.S. Senate on Wednesday took the first step to pass legislation that would overturn Vermont's law that requires the labeling of food that contains genetically modified ingredients. The proposed federal bill would prohibit individual states from enacting their own GMO labeling standards.

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