finance

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. 

www.tOrange.us / Creative Commons

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.

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. 

Greece and its European Union partners are beginning to sort out what's next after the country voted en masse to reject a German-led bailout plan that would have given the country more credit to pay its debt in exchange for tough austerity measures.

Updated at 2:30 a.m. ET Monday:

Greek Finance Minister Yanis Varoufakis has resigned. According to The Associated Press: Varoufakis was told shortly after the Greek referendum result that the some eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings. He issued an announcement on Monday saying the prime minister had judged that his resignation "might help achieve a deal" and that he was leaving the finance ministry for this reason.

Updated at 8:40 p.m. ET Sunday:

Невідомий / Creative Commons

State regulators look poised to reject a $3 billion foreign takeover of Connecticut’s second largest utility. 

Manufacturers in Connecticut are among those who say they’ll suffer with the expiry of the federal Export-Import bank. There are more than a hundred companies in Connecticut that use the services of the federal agency, known as the Ex-Im bank.

Financial Compatibility for Couples

Jun 11, 2015
401(K) 2012/flickr creative commons

Financial burdens take a toll on our social lives, and can ruin a relationship.  Money, or more simply debt, often leads to arguments and even divorce. 

Ixnayonthetimmay / Creative Commons

  A new list of  the "best and worst cities to retire" puts Hartford and New Haven near the bottom.

alancleaver_2000 / Creative Commons

The new tax obligations Connecticut wants to impose on its corporations are a growing trend around the nation. And some advocates say it’s a movement that’s long overdue.

Former Speaker of the House Dennis Hastert was indicted Thursday by a federal grand jury in Chicago. The Illinois Republican, 73, is charged with trying to evade cash withdrawal requirements, and with lying to the FBI about it.

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