Warburg Pincus trims stake in Webster

Private Equity Warburg Pincus and Waterbury-based Webster Financial said Thursday Warburg was reducing its stake in Webster. Warburg is selling 10 million shares in Webster. The private equity acquired a major stake in Webster in 2009 when the bank was raising capital and fortifying its balance sheet. Webster CEO Jim Smith characterized this as a […] [Read More]
Categories: Banking

How not to get fooled by gold schemes

Following an announcement this week by the Commodities Futures Trading Commission that it was filing charges against 12 firms for allegedly selling phantom gold to investors, The Mines reached out to veteran coin dealer Bob Walter of Westport-based Sam Sloat to get some tips on avoiding these scams. “The most important thing, if you’re buying […] [Read More]
Categories: Main Street, Wall Street
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Connecticut grabs $5 million in Constellation settlement

Connecticut officials said Thursday electricity customers in the state will begin seeing a credit on their bills in January as funds from an energy market manipulation settlement get released. In March, Constellation Energy Commodities Group settled allegations it manipulated Northeast electricity prices between 2007 and 2008. Constellation agreed to pay $245 million to settle the […] [Read More]