Business news

Ryan Caron King / WNPR

Governor Dannel Malloy had his own sobering assessment of the state’s economic competitiveness Thursday as he addressed the Stamford Chamber of Commerce.

 A Vermont boot brand is coming back after several years off the market — a return that is a déjà vu experience for the boots' creator.

A top executive with MGM Resorts International will be in Springfield next week to publically assure the company’s commitment to build a casino in the city.

A private meeting between MGM President Bill Hornbuckle and Springfield Mayor Domenic Sarno, with a press conference to follow, was arranged after MGM disclosed plans to eliminate a 25-story hotel tower from its planned casino and substitute a more modest hotel design. 

“Skyrocketing” construction costs were blamed for the change. 

Hackers have stolen the personal information of about 15 million T-Mobile customers and potential customers in the U.S., including Social Security numbers, dates of birth and home addresses.

Experian says it notified law enforcement as soon as it discovered the breach, NPR's Laura Sydell reports:

She also says:

Ryan Caron King / WNPR

The Mashantucket Pequot and Mohegan Tribes have taken another step in their quest for a third casino in Connecticut. The two issued a request for proposals, seeking formal bids from towns and landowners who would like to host the facility. 

A schoolteacher is believed to be the first person in Connecticut to sue Volkswagen over its admission that it rigged its diesel cars to cheat emissions tests. 

Ryan Caron King / WNPR

Connecticut Governor Dannel Malloy said he's fine with giving a committee more time to come up with ways to finance his proposed 30-year, $100 billion transportation overhaul.

Wynn Resorts Holdings, LLC

The city of Boston has filed another lawsuit in its attempts to derail a planned $1.7 billion casino in neighboring Everett.

Daderot / Creative Commons

The Phoenix Companies is to be sold to a newly formed reinsurance investment firm. New York-based Nassau Reinsurance will pay $217.2 million for the Hartford company, and then take it private.

Under fire for misleading governments and customers about its diesel cars' emissions, Volkswagen has a plan to recall millions of vehicles so it can fix the problem. The company has said it sold 11 million cars worldwide that use software to limit emissions only during official testing.

The news comes from a large internal meeting at the company led by Matthias Mueller, who took over as VW's leader last week after Martin Winterkorn's resignation.

Voters in Springfield may get a chance to weigh- in on the controversial changes proposed for MGM’s resort casino project. 

Springfield City Councilors at a special meeting Tuesday will consider adding a non-binding referendum to the Nov. 3 election ballot. 

The question proposed by council president Mike Fenton asks if voters support changing the development agreement between MGM and the city to eliminate a high-rise glass façade hotel from the casino project.

Citing a lack of enough oil to make the project worthwhile, Royal Dutch Shell Oil is halting its effort to drill for oil off Alaska's shore "for the foreseeable future." The company has spent some $7 billion on the exploration project.

Embattled carmaker Volkswagen has named Matthias Mueller to take the wheel after CEO Martin Winterkorn stepped down earlier this week in the wake of a growing scandal involving some 11 million diesel vehicles equipped with software that cheated emissions testing.

Connecticut Technology Council

A software firm that helps community banks comply with government regulations has been named as the fastest growing technology company in the state.

At Volkswagen, damage control is in full swing after it was revealed the automaker had, for seven years, equipped its vehicles with software capable of fooling emission tests.

A top state gambling official says New York remains on track to award up to three long-awaited casino licenses before the end of the year.

Officials from MGM Resorts Thursday sought to persuade at times skeptical Massachusetts casino industry regulators that proposed design changes to the company’s Springfield casino project would be an improvement and not a downsizing.

One day after Volkswagen CEO Martin Winterkorn announced his resignation over the German automaker's use of software to dupe emissions control tests, European countries are conducting new tests — and the Auto Bild site says a BMW diesel model also failed to meet European standards.

The city council in Springfield, Massachusetts has scheduled a special meeting to vote on a sizable tax break for a subway car manufacturer after a vote at a regular meeting was unexpectedly delayed. 

The Springfield City Council will meet Tuesday to vote on a tax incentive agreement with CRRC USA Rail Corp, which is planning to build a $95 million factory in east Springfield to build subway cars. The agreement,  if approved, would save the Chinese company $10 million over a 10-year period in exchange for a promise to create at least 150 jobs.

Report Warns Of Boston's High Inequality

Sep 23, 2015

Income inequality in Boston has widened considerably over the last dozen or so years, a new report from The Boston Foundation details. / Creative Commons

Connecticut hospital executives are asking the General Assembly to intervene and prevent $63.4 million in new cuts to state Medicaid payments to their health care facilities.

Wynn Resorts Holdings, LLC

Massachusetts is urging a judge to dismiss lawsuits challenging its decision to award Wynn a casino license.

MGM Springfield

MGM Resorts International has announced plans to reconfigure the hotel it will build as part of its new casino complex in Springfield, Massachusetts.

Mashpee Wampanoag Tribe / Facebook

Tribal and city officials are touting the economic benefits of a $500 million resort casino that the Mashpee Wampanoag tribe hopes to build in the city of Taunton, Massachusetts, 40 miles south of Boston.

When Apple recently updated its TV box the redesign included a remote that also functions as a game controller. Apple isn't trying to compete with powerful consoles such as Microsoft's Xbox or Sony's PlayStation. But, Apple is competing with Google and Amazon to attract a much bigger but different gaming audience.

Plans by the Mashpee Wampanoag Tribe to build a casino in Taunton, Massachusetts, will not affect Twin River's quest to create a so-called "convenience casino" in Tiverton, a Twin River spokeswoman said Monday,

"It has no bearing on our plans in Tiverton," spokesman Patti Doyle said.

The Mashpee Wampanoags are staging a noon Monday news conference at Taunton City Hall to discuss their plans.

A new study shows people exited New York in droves in 2013, and while there is disagreement as to why they left,  another report suggests taxes could be playing a significant role.

Ken Teegardin / Creative Commons

Connecticut's Insurance Commissioner has sold off stock she held in Cigna, her former employer. 

purple_onion / Creative Commons

It wasn’t that many years ago that gambling was seen as a pretty good bet when it comes to improving the state’s economic situation. In Connecticut, two tribal casinos were thriving and spinning off slot revenues into the general fund. Then came the recession and declining revenues just as other states started to get into the gambling business.

Now, in a move that couldn’t have been predicted a decade ago, both state tribes have agreed to work together on a new casino to help stave off a threat from Massachusetts. That plan is now under legal attack.

Carol M. Highsmith / Creative Commons

United Illuminating has reached an agreement with the state to pay for the massive environmental cleanup of a polluted former power plant site in New Haven.