Insurance Department releases tips on filing claims for Sandy

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Official release from Connecticut Insurance Department Connecticut Insurance Commissioner Thomas Leonardi today reminded consumers that there are a number of important steps to follow when filing damage claims from Storm Sandy. “Contact your agent or company as soon as possible and document your damage with photos or video,” Commissioner Leonardi said. “Keep a dairy of […] [Read More]
Categories: General, Insurance

Confirming 10k job cuts, UBS to exit some fixed income lines of biz

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Swiss-based UBS AG, confirmed Tuesday it would shed about 10,000 jobs between now and 2015 with much of those reductions coming in its fixed income business. The bank said in a press release it would concentrate on its investment banking division. Gov. Dannel Malloy’s office told Hearst Media Connecticut that UBS had said it would […] [Read More]
Categories: General
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Sandy prep erases generator and battery inventories

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Not exactly a news flash but generators and D batteries are gone, at least after checks of Post Road Home Depot and Lowes. One worker said he expects the next wave of sales for repairs. Colony Tools on South Lambert Road in Orange had some generators Sunday morning. And Harbor Freight might be worth a […] [Read More]

UBS said to be planning 10,000 job cuts

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The Financial Times and Bloomberg News both reported Friday, UBS is planning to cut 10,000 jobs. The company did not comment on the reports, based on unnamed sources, Friday, when contacted by The Mines. However, Gov. Dannel P. Malloy’s office said the Swiss-based bank, has assured the governor that it will meet its obligations under […] [Read More]

Ridgefield’s Boehringer Ingelheim to pay states $95 million over drug marketing practices

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Connecticut Attorney General George Jepsen said Friday Ridgefield-based pharmaceutical Boehringer Ingelheim will pay the states $95 million to settle allegations the company paid kickbacks to doctors to push four drugs, sometimes for uses not approved by the FDA. A complaint filed in Maryland federal court by a former sales director of the company, alleged that […] [Read More]

Rajat Gupta’s Westport mansion

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Westport’s Rajat Gupta will be sentenced Wednesday for his role in a mammoth insider trading case that prosecutors say was the largest in history. Already, former billionaire hedge fund owner Raj Rajaratnam — a onetime close friend of Gupta, who himself lived in Greenwich — is serving 11 years in prison for earning up to […] [Read More]
Categories: General

Praxair sees weaker economy after most recent quarter

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Danbury-based Praxair, a global supplier of industrial gases, joined the growing list of companies reporting further weakening of the global economy. PX made the observation Wednesday while reporting results for the third quarter. The company said it had net income of $430 million, or $1.43 per share, on sales that were 4 percent lower than […] [Read More]
Categories: Economy, Wall Street
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Sequestration: ‘It will not happen’

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In the debate last night, President Obama said point blank the $500 billion in defense cuts and apparently an equal amount of cuts to other federal services over the next 10 years, will not happen. Either the president believes Congress will stop the cuts, or, if he wins re-election, we’re looking at a showdown over […] [Read More]
Categories: Defense, General

UTC sales up as company gears up for more structuring

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Hartford-based United Technologies Corp. said Tuesday net income attributable to shareowners slipped 3 percent to $1.2 billion, but sales, at $15 billion, were up 6 percent from a year ago for the entire company. When income from discontinued operations are included, UTC actually saw income rise nearly 6 percent to $1.42 billion compared to $1.32 […] [Read More]
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Xerox reports drop in net income

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Xerox reported net income fell almost 12 percent in the third quarter to $282 million. The Norwalk-based company said it is in a transition mode as it focuses more on services. The tech sector is definitely interesting as execs take different approaches. Microsoft, Amazon and other major tech companies are pushing hardware to catch Apple, […] [Read More]
Categories: Wall Street
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