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Top News & Analysis Connecticut

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  • WEST HARTFORD, Conn.— Connecticut- based firearms maker Colt Holding Co. is asking a bankruptcy judge to approve payments totaling $2.5 million for nine top executives. The Hartford Courant reports the bonuses would be paid if an executive is fired, resigns because of reduced pay under future owners or moves. The West Hartford- based company is trying to...

  • Dannel P. Malloy's outgoing chief of staff was appointed Friday to head Connecticut's Board of Regents for Higher Education, promising he'll listen to the concerns of college presidents, faculty, students and legislators around the state. Created several years ago, the Board of Regents oversees four state universities, 12 community colleges and the online...

  • "We saw strange things in the data," said Chris Barnes, a former swaps trader now with ClarusFT, a London- based data firm. The missing transactions reflected an effort by some of the largest U.S. banks- including Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Morgan Stanley- to get around new regulations on derivatives enacted in the wake of the financial...

  • Connecticut unemployment rate falls to 5.4 percent Thursday, 20 Aug 2015 | 11:48 AM ET

    HARTFORD, Conn.— Connecticut employers added 4,100 jobs in July, pushing the unemployment rate down to 5.4 percent, from 5.7 percent, its lowest since May 2008, the state Department of Labor said Thursday. Peter Gioia, economist for the Connecticut Business and Industry Association, the state's largest business group, said the sharp drop in the unemployment rate...

  • ELLINGTON, Conn.— Alex Kelly gained international infamy as the "preppy rapist" two decades ago while living an adrenaline-fueled life as a jet-set fugitive in Europe— skiing, hang gliding and mountain climbing before surrendering to face rape charges in Connecticut. The man who spent eight years on the lam, living off money the FBI said came from his wealthy...

  • WRAPUP 4-U.S. consumer prices up slightly, airfare weighs Wednesday, 19 Aug 2015 | 5:27 PM ET

    WASHINGTON, Aug 19- U.S. consumer prices rose only slightly in July as airline fares recorded their biggest drop since 1995, but tame inflation pressures will probably not discourage the Federal Reserve from raising interest rates this year. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent last month, with gasoline and food...

  • NEW YORK, Aug 19- The dollar fell on Wednesday as investors positioned for a U.S. interest rate hike in September pulled back after minutes from a Federal Reserve policymakers meeting delivered no solid signals on when the era of near-zero rates will end. "These minutes don't give a clear view in either direction about September, about whether or not the Fed is more...

  • WRAPUP 2-Airline fares dampen U.S. consumer prices in July Wednesday, 19 Aug 2015 | 12:30 PM ET

    WASHINGTON, Aug 19- U.S. consumer prices rose only slightly in July as airline fares recorded their biggest drop since 1995, but tame inflation will probably not discourage the Federal Reserve from raising interest rates this year amid signs of an improving economy. They just need to have reasonable confidence it will return to mandate, "said Michelle Girard,...

  • WASHINGTON, Aug 19- U.S. consumer prices rose slightly in July, but a solid increase in the cost of shelter suggested inflation was probably stabilizing enough to support expectations the Federal Reserve will raise interest rates this year. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent last month as gasoline and food...

  • It also said the U.S. Attorney's Office in Indianapolis planned to hold a news conference Wednesday. The 37- year-old Fogle became a Subway pitchman more than 15 years ago after shedding more than 200 pounds as a college student, in part by eating the chain's sandwiches. Subway suspended its relationship with Fogle after the raid.

  • Photronics posts 3Q profit Tuesday, 18 Aug 2015 | 4:39 PM ET

    BROOKFIELD, Conn. _ Photronics Inc. on Tuesday reported fiscal third-quarter profit of $12.1 million. The Brookfield, Connecticut- based company said it had net income of 17 cents per share. Photronics shares have decreased roughly 7 percent since the beginning of the year.

  • Long lines form at DMV offices following shutdown Tuesday, 18 Aug 2015 | 12:11 PM ET

    WETHERSFIELD, Conn.— Department of Motor Vehicles customers waited in long lines that stretched outside Tuesday, the first day that branch offices have been fully operational since a one-week partial shutdown. But even though DMV Commissioner Andres Ayala Jr. had warned of the pent-up demand for services and repeatedly urged people to wait a couple weeks...

  • WATERBURY, Conn.— Jonathan F. Kellogg, a former Associated Press bureau chief who served as executive editor of Connecticut's Republican-American newspaper, has died. Kellogg died Monday at his home in Harwinton. He also had served as executive editor of The Sun in Lowell, Massachusetts, and managing editor for the Portland Press Herald in Maine and the Maine...

  • Amazon's data-driven approach becoming more common Monday, 17 Aug 2015 | 5:15 PM ET

    A New York Times article over the weekend portrayed Amazon's work culture as "bruising" and "Darwinian" in part because of the way it uses data to manage its staff. "Every company is somewhere in process toward using data to get a better handle on who their top performers are and to understand where people stand," said John Challenger, CEO of outplacement consultancy...

  • NEW YORK, Aug 17- The dollar advanced on Monday, rising against a basket of currencies for a third straight session, as traders focused on potential U.S. interest rate hikes and shook off worries about a China- led "currency war." "Since China circled the wagons around its currency and restored some stability to its own markets, the market has defaulted to the Fed story...

  • Connecticut shutters nail salons over wage violations Monday, 17 Aug 2015 | 12:49 PM ET

    HARTFORD, Conn.— State labor officials shuttered nearly two dozen nail salons, recovered more than $47,000 in wages owed to employees and penalized businesses $100,000 for pay and records violations. Stop-work orders were issued against more than 20 nail salons in Branford, Darien, Hartford, New Haven, Southport, Stamford and Westport. Gary Pechie, director of...

  • JEFFERSON CITY, Mo.— While Congress remains stalled on a long-term plan for funding highways, state lawmakers and governors aren't waiting around. And legislators are returning to work this week in California and Michigan with transportation funding on the agenda. "I don't know of a state that's not having the conversation" about raising revenue for...

  • NEW YORK, Aug 17- The dollar advanced on Monday, rising against a basket of currencies for the third straight session, as traders focused on potential U.S. interest rate hikes and shook off worries about a China- led "currency war." "Since China circled the wagons around its currency and restored some stability to its own markets, the market has defaulted to the Fed...

  • HARTFORD, Conn.— The trading relationship involving hundreds of billions of dollars in imports and exports between the United States and China is hard to grasp, but it hasn't deterred 36 high school students from Wallingford and Shanghai who gathered in Connecticut to study global trade. Junior Achievement, a nonprofit youth organization that educates...

  • *North Dakota crude production rises in June. "Producers don't seem to want to blink," said Gene McGillian, senior analyst at Tradition Energy in Stamford, Connecticut, commenting on the North Dakota data. September crude was up 21 cents at $42.44 a barrel at 11:55 a.m. EDT, after reaching $42.96 and having fallen to $41.35, the lowest front-month price since March...