finance

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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.

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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.

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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.

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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:

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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. 

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

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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.

What Can We Do About Student Debt in Connecticut?

May 26, 2015
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The federal reserve has calculated the amount of American student loan debt is over $1 trillion, greater than car loan and credit card debt. Lawmakers are trying to provide relief for students.

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Unexpected price spikes in home energy bills have been a focus for legislators this session, but a new study says even programs designed to lessen the impact of your monthly bill could still be impacting your wallet. 

Citicorp, JPMorgan Chase, Barclays, The Royal Bank of Scotland and UBS AG have agreed to plead guilty to felony charges and pay billions in criminal fines, the Department of Justice says. The offenses range from manipulating the market price of U.S. dollars and euros to rigging interest rates.

Jeff Turner / Flickr Creative Commons

At the beginning of this century, when tech stocks were hot and dot-coms were appearing everywhere, Yale professor and renowned economist Robert Shiller was already warning of a bubble -- and he was right. Years later, when housing prices were skyrocketing and millions of American were betting big on real estate, Robert Shiller again predicted an impending crisis. Sadly, he was right again.

Now, with the housing market showing signs of improvement, many are getting the sense that we’re finally out woods. And with this feeling returns the idea that buying a home today means financial gains down the road.

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Business closures were up sharply in Connecticut in the first quarter of this year. New data from the Secretary of the State’s office show that almost 3,300 companies closed their doors between January and March.

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Two UConn professors who’ve been accused of misusing funds from the National Science Foundation didn’t fully read documentation that required them to disclose a conflict of interest, according to state auditors.

There was no good news for the state from its latest revenue numbers. The Malloy administration’s previous estimates for tax receipts proved optimistic, and an April reality check saw the budget office now projecting a deficit of almost $162 million.

Cliff / Creative Commons

Each year, for-profit corporations spend billions of dollars on reported lobbying expenditures. It’s a significant investment that’s placed American businesses among the most powerful forces in Washington, and in state houses like the one in Hartford.

Office of Dannel Malloy

A non-partisan working group to help find funding options for Connecticut's transportation infrastructure overhaul met for the first time on Tuesday.

Connecticut’s fiscal crisis is making strange bedfellows. Two groups usually at opposite ends of the political spectrum came together recently, to ask legislators to think differently about saving for a rainy day. 

Courtesy CT-N

State Treasurer Denise Nappier wants to shake-up the way Connecticut pays off its debt.
 Her proposal follows a sharp disagreement with Governor Dannel Malloy’s budget chief over the amount that should be set aside to service state debt in the upcoming two-year budget.

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