Connecticut’s unemployment rate drops to 8.4 percent

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Connecticut’s Labor Department said the unemployment rate dipped 0.3 percent to 8.4 percent last month as the national rate fell 0.4 percent to 8.6 percent during the same time. The number of people unemployed, according to the monthly survey, fell 2.8 percent, or 4,700 people,  to 159,200 in November, compared to 163,900 in October. The […] [Read More]
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Kaman buys Illinois company

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Bloomfield-based Kaman Corp. was still hanging onto its Monday stock gains after announcing it bought Illinois-based Catching FluidPower Inc. CFPI distributes fluid power products, most notably Parker Hannifan Corp. products. The value of the deal was not disclosed, but while many companies shares turned south after a brief surge Monday, Kaman’s shares remained up almost […] [Read More]
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More on Dalio’s new fund

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Lawrence Delevingne at Absolute Return + Alpha reported earlier today that Dalio’s new fund will not target wealthy families, as some experts suggested, but will instead stick with institutional investors, specifically looking at corporate pensions. And in an email sent around 6 p.m. Bridgewater itself confirmed it’s sticking with institutional investors. Bridgewater also said despite […] [Read More]
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Morgan Stanley adds to cuts on Wall Street

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Financial workers were greeted this morning with more news of job cuts on Wall Street, this time as Morgan Stanley announced 1,600 position reduction in the first quarter, according to numerous media outlets. It’s not a complete surprise at Morgan. At a Bank of America Merrill Lynch conference this morning, Morgan Stanley’s Paul J. Taubman, […] [Read More]
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Yale dubs Dow’s Liveris a legend

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Yale Chief Executive Leadership Institute is honoring Aussie Andrew Liveris, Dow Chemical’s chairman and CEO with its Legend in Leadership Award. Liveris will be honored tonight at a ceremony in New York as part of the 68th Yale CEO Summit of The Chief Executive Leadership Institute. Here’s a taste of Yale’s announcement: New Haven, Conn., […] [Read More]
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Alcohol sales to teens plummet

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This could be a sign the economy is truly on the mend. According to the Connecticut Consumer Protection Department, only 17 .33 percent of package stores and bars failed state liquor compliance checks so far this year, a precipitous fall from the 25.4 percent rate a year ago. Consumer Protection and state police sponsor stings […] [Read More]
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Securities fraud charged against Natera’s Area 51/Hollywood East

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The State Banking Department said this week, the failed Area 51/Hollywood East project to turn the Stratford Army Engine Plant into a movie studio, used money that was illegally raised. The project, now referred to as Point Stratford, violated state securities law and the key players in finding investors, Hector Natera and Yvette Cuccaro could […] [Read More]
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Look out for GS alums setting up shop

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Bloomberg reported Wednesday, Goldman Sachs lost 37 partners from the firm during one of its worst years for performance, since 2008. Plenty of Finance professors and analysts expect the world of boutique and independent IMs to expand as people cash out of big firms and look to keep income coming in. Whether that translates into […] [Read More]
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GE investor conference generates energy expectations

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GE Chief Executive and Chairman Jeff Immelt talked Europe, R&D and margin expansion with investors Tuesday but clearly laid out expectations that the Fairfield-based conglomerate will be competing for major power generating contracts in the coming year. In particular, there are expecations of 50 gigawatts worth of opportunity in the U.S. alone by 2020, which […] [Read More]
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Sikorsky’s new 76 engine wins key approval

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Sikorsky announced Pratt & Whitney’s PW210S engine will be installed in Sikorsky’s new S-76D helicopter after winning a key FAA certification. Here’s Sikorsky’s Press Release on it: Sikorsky has achieved another significant milestone in its S-76D™ helicopter program as the Federal Aviation Administration (FAA) recently certified the Pratt & Whitney Canada PW210S engines that will […] [Read More]
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