Conntact.com - CT Business News Journal

Beginning Home Construction in U.S. Exceeded Forecasts in April
Bloomberg
“Homebuilding is picking up,” Samuel Coffin, an economist at UBS Securities LLC in Stamford, Connecticut, said before the report. “With job growth and income growth and faster household formation, the level of housing activity will be increasing.

Chairman Fred P. Hochberg Statement on Senate Passage of HR 2072, the Export ...
U.S. Politics Today
... allow the Bank to continue financing US exports to meet foreign competition and fill the void when commercial funding is unavailable. And the Bank will continue to play a critical role in our economic recovery at no cost to the American

Gasoline Slides to Three-Month Low on Greek Election Concerns
Bloomberg
Gasoline slid to a three-month low after Greece failed to form a coalition government, setting the stage for new elections and increasing concern that Europe's economy may slow, reducing fuel demand. Futures sank as the dollar gained against the euro, ...
Debt

US Retail Sales Cool After Warm-Weather Spree: Economy
BusinessWeek
Still, an American Express Co. survey of 541 global finance executives showed 56 percent are planning to boost payrolls in the US over the next 12 months. Seventy-five percent of the American executives forecast “robust” economic growth after this year ...

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How big is President Obama's Wall Street problem?
CNN (blog)
Considering that Obama got a lot of financial support in the last election from Wall Street he might be in a crunch for funds this time around. You don't bite the hand that feeds you unless you have a new owner waiting in the wings.

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China Growth Seen at 13-Year Low by Pimco
Bloomberg
“The economy is unlikely to bottom until the third quarter,” Ramin Toloui, Pimco's global co-head of emerging markets portfolio management in Singapore, said in e-mailed comments May 13. “Policy makers will progressively turn the dial toward more ...

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Philly Deals: Jamie Dimon loses his luster
Philadelphia Inquirer
Through the deep financial crisis and its slow aftermath, JPMorgan Chase & Co. chief Jamie Dimon was the Last Man Standing. But Thursday night, he was just another limping bank boss with some explaining to do. As chairman and CEO of the largest US ...

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DON PESCI: Some winners and losers
Torrington Register Citizen
Following Connecticut's remarkably jam-packed “short” legislative session, Republicans and Democrats took the usual victory lap in their rhetorical chariots. But winners and losers there were. Republicans in the General Assembly were rolled over by ...

Hoping for Capital Gains
Connecticut Business News Journal
“People are still uncertain about the general condition of the global economy, not only [the economy] in Connecticut,” Nemerson says. But while events beyond the Western Hemisphere might affect local lending practices, it is global players that seem to ...

S&P 500 Rises From 2-Month Low on Greece's Government Attempt
San Francisco Chronicle
What's also helping the market is that our earnings numbers have been good and the economy is doing OK. Today's claims data seem to support that." Equities rose as former Greece Finance Minister Evangelos Venizelos attempted to form a

Want economic success? New Jersey's better than Oklahoma
msnbc.com
Want economic success? New Jersey's better than Oklahoma By Eve Tahmincioglu Where you live may be hampering your economic potential. If you live in New York, New Jersey or Maryland, chances are your prospects for moving up the ladder of financial ...

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Immelt says global strategy is key to corporate survival
Ct Post
General Electric Chairman and CEO Jeffrey Immelt addresses The Economic Club of Washington during a club luncheon at the Mandarin Oriental Hotel March 31, 2011 in Washington, DC. US Fairfield-based GE on Thursday boosted its dividend for the third time ...

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Update on the latest news, sports, business and entertainment
NECN
Biden also told the international Rabbinical Assembly that sanctions which go into effect this summer to deter Iran from developing nuclear weapons will devastate the Iranian economy. Republican presidential candidate Mitt Romney has accused Obama of ...

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Facebook to Sell Stock to the Public This Month
Voice of America
In the world of high finance, the company has been considered to be privately owned. With the first stock sale, planned for mid-May, Facebook will be publicly owned, although the original owners will also retain stock they can keep or sell for whatever ...

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Alongside Mexican President Felipe Calderon, Carlos Slim, Thor Equities CEO ...
U.S. Politics Today
Each year, the international gathering convenes the biggest names in Mexican, Latin American and global real estate development, finance and political leadership. Sitt, who recently made significant investments along Mexico City's main shopping

New York The Most 'Economically Powerful' City
The Mark
The new rankings come from amalgamating five different institutions' matrices of what makes for the top economic cities on the planet – influence in finance and business, population, R&D, etc. When averaged, the Martin Prosperity Institute found that ...

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Professor Shiller argues to reclaim finance
ABC Online
In it he argues that there's a lot to admire about the financial system and its potential. Robert Shiller joins us now from Yale in Connecticut. Thank you very much for being there for us. ROBERT J. SHILLER, ECONOMICS PROFESSOR & AUTHOR: Hi, Emma.

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CT firm's software cuts cost of filing
Hartford Business
Now a Connecticut company is moving the dream closer, one industry at a time. Westbrook Technologies of Branford has developed a software approach that has changed the way a local aircraft company stores certifications, how California courts process ...

Services in U.S. Expanded at Slower Pace Than Projected in April
San Francisco Chronicle
"We had a burst and now the non-manufacturing sector may just be easing a bit because, without faster economic growth, it's tough to have services growing much more," Guy Berger, an economist at RBS Securities Inc. in Stamford, Connecticut, ...

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Loonie 6-Month Lead at Risk as First G-7 Rate Gain Looms
Bloomberg
While international investors typically favor currencies with high rates for the potential for greater returns, traders are signaling that in Canada it would do little more than damage an economy underpinned by debt. Household borrowing was 152.9 ...

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Cash Hoards Reduce Bond Sales to Least Since '06: Credit Markets
Bloomberg
Corporations have been repairing balance sheets and increasing cash reserves as a gradually improving global economy helps companies recover from the biggest financial crisis since the Great Depression. “A lot of companies have a tremendous amount of ...

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'Banking center' can often have a hollow ring
China Daily
Asked why they should become financial hubs, most cities - the exceptions are Beijing, Shanghai, Shenzhen, and Guangzhou - have said that they are the leader in their region. In economic and financial circles, developing financial hubs is regarded as a ...

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This economy stinks worse than you think
MSN Money
You're more likely to do so if you think (accurately or not) that the economy is OK. Increasingly, well-known journalists on the business and finance beats top off their earnings with speaking fees from Wall Street outfits, according to a recent ...

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IT Incubation Committee Submits Report to CT Ministry
AllAfrica.com
The committee was set up the CT Ministry to deliver a sustainable framework to guide the setting up of incubation centers and the provision of an enabling environment that fosters ICT innovation from incubation to commercial success in the country has ...

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Europe Seen Adding Growth Terms to Budget Rules as Focus Shifts
San Francisco Chronicle
Draghi's comment "illustrates the depth of concern felt by the ECB about the weak outlook for the euro area economy," said Julian Callow, chief European economist at Barclays Capital in London. "It perhaps could be a closet call for Germany to

Why You Should Start A Company In... New Haven
Fast Company
What's lesser known about New Haven is that is has long been a hotbed of startup activity: Eli Whitney invented the cotton gin here, as well as interchangeable parts for guns, sparking a small arms-manufacturing industry that encompassed Winchesters ...

EU News: Can Connecticut High School Students Solve the Euro's Challenges?
Sacramento Bee
The Euro Challenge fosters a better understanding of the European economy and transatlantic economic relations, and it supports local learning objectives in economics and finance. The competition continues to expand nationally.

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Merkel Backs Draghi's Call for Growth
BusinessWeek
By Tony Czuczka and Patrick Donahue on April 25, 2012 Chancellor Angela Merkel backed European Central Bank President Mario Draghi's call to focus on spurring economic growth, as German officials rejected charges they are fixated on budget austerity to ...

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How Wall Street Layoffs Will Affect The Housing Market
Forbes
On a grand scale, we saw all too painfully how intertwined Wall Street and real estate were as the housing bubble deflated and the global economy plunged into a recession in early 2009. Locally, Wall Street residential enclaves like the Financial ...

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Susan Campbell: Professor Teaching Real-Life Economics To A Freaked Out Generation
Hartford Courant
When the economy tanked, Mitchell D. Weiss was teaching a University of Hartford class on entrepreneurial finance. He'd spent three decades in the financial services industry, and was running a consulting firm. After the economic meltdown, ...

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Former NewAlliance CEO taking over at BNC
Ct Post
Photo: Contributed Photo / Connecticut Post Contributed New Canaan-based BNC Financial Inc., a $500 million institution, has hired Peyton R. Patterson, former NewAlliance chief executive officer, to lead an expansion that one day could include a public ...
Ex-NewAlliance CEO

Global markets: Stocks fall, safe havens rise on renewed Europe fears
GMA News
Risk appetite faded as concerns about the financial health of Spain—Europe's fourth-largest economy—pushed up demand for US Treasuries and government bonds of the euro zone's most stable nation, Germany. Oil prices fell, with London's benchmark Brent ...

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Jeff Starkweather
The Independent Weekly
The most important issues facing this state, which are also my campaign priorities, are how to strengthen the economy, education and the environment, with the latter including energy conservation and alternative energy. Overriding all three issues are ...

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Please, Sir, May I Have Another?
Huffington Post (blog)
New Networks Institute just put out a new report this week: "Verizon's State-Based Financial Issues & Tax Losses: The Destruction of America's Telecommunications Utilities, the Public Switched Telephone Networks (PSTN)." Verizon's state-based SEC ...

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Joseph Smith Jr., monitor of banks after mortgage settlement, faces a daunting ...
Washington Post
“I thought there was some potential good that could come out of it, for the mortgage industry and the economy,” Joseph Smith Jr., 62, said in a recent interview. Smith's primary role over the next several years will be to ensure that banks — Wells

GE midmarket lending pipeline expands 16 percent amid US growth
Ct Post
Photo: J. Gregory Raymond/Bloomberg / CT General Electric's finance unit is expanding lending to small and mid-size businesses as confidence in US economic strength grows. Norwalk-based GE Capital said it increased proposals to US commercial lending ...

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Treasuries Snap Gain on Speculation Retail Sales Rose
Bloomberg
Yields on the benchmark note dropped to almost the lowest level since March before the Federal Reserve bought $4.55 billion of longer-term Treasuries as part of a plan to boost the economy. Spain is scheduled to auction two- and 10-year debt tomorrow ...
Treasury 10-Year Yield

State gets high marks for testing effectiveness of its business tax credits
The Connecticut Mirror
By Keith M. Phaneuf Connecticut is one of 13 states "leading the way" when it comes to tracking and testing the effectiveness of its tax credits and other economic development incentives, according to a new report from a leading national

Does Expansionary Monetary Policy Primarily Benefit Finance and Rentiers?
Seeking Alpha
Those people will lobby, asserting that higher interest rates will undermine the economy and cause us to plummet into recession, or worse…. As the American economy begins to improve, influential people in the financial sector will continue to talk ...

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Small Eastern Connecticut libraries feeling pinch
Norwich Bulletin
“So many smaller libraries, association-run libraries — their endowments suffered in the economic downturn and they lost a great deal of value. That makes it quite difficult for them,” Connecticut Library Association President Betty Anne Reiter said.

Ct. minimum wage hike advances
Danbury News Times
Gomes spoke in favor of the bill during committee debate, noting the high cost of living in Connecticut. But opponents say that raising the minimum wage in the current economic environment could lead to job losses and a reduction in work hours for ...

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GE Capital Midmarket Lending Rises 14% as U.S. Economy Grows
Bloomberg
s (GE) finance unit is expanding lending to small and mid-size businesses as confidence in US economic strength grows. GE Capital said it increased proposals to US commercial lending and leasing customers by 16 percent in the first quarter from a year ...

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Toigo Foundation's All A Board Receives $100000 W.K. Kellogg Grant To Fuel ...
PR Web (press release)
... diversity as a value-added proposition in the financial services industry,” stated Denise L. Nappier, Connecticut State Treasurer and Vice Chair of the Toigo Board. “With the globalization of our economy, coupled with rapidly changing

10 Questions for Scala CFO Anthony Maddalone
PCWorld
Where did you start in finance and what experiences led you to the job you have today? After graduation from college, I was recruited to work at the then-accounting firm Ernst & Whinney, a predecessor firm to today's Ernst & Young.

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