IRS is open for business, sort of

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The Internal Revenue Service has opened the 2013 filing season by announcing a variety of enhanced products and services to help taxpayers prepare and file their tax returns. “This year, taxpayers have until Monday, April 15, to file their 2012 tax returns and pay any tax due,”  said Dianne Besunder the IRS spokeswoman for Connecticut. […] [Read More]
Categories: Taxes

Another robo-signing settlement: Lender Processing to pay $121 million

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New York Attorney General Eric T. Schneiderman announced Thursday morning a multi-state settlement with Lender Processing Services Inc. and its subsidiaries, LPS Default Solutions and DocX to resolve claims of unlawful foreclosure practices, including robo-signing. New York took the lead on the case, but Connecticut was on the executive committee that ultimately got the $121 […] [Read More]
Categories: Banking, Fraud

Mortgage applications plunged last week, rates hit 4 month high

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The Mortgage Bankers Association said applications for home loans across the nation fell 8.1 percent last week compared to the previous one and the average interest rate jumped to 3.67 percent, the highest rate since September 2012. Real estate remains a big question mark heading into 2013 and signs of a slow down could further […] [Read More]

Shares in Stamford’s Crane pop 5 percent Tuesday

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Shares in Stamford-based Crane Co. jumped in Tuesday trading the day after the industrial products maker posted a record earnings for 2012 and forecast another record for 2013. Crane shares were trading up 4.88 percent to $50.96 just after 12:30 p.m. Tuesday. The company announced the night before net income for the fourth quarter $45.6 […] [Read More]
Categories: Wall Street
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First five days of tax season and 1,225 residents have state refunds

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More than 15,500 Connecticut residents got the jump on tax season and have already filed their returns, the state Department of Revenue Services said this week. Tax season officially opened in Connecticut on Jan. 22 and by Jan. 27, the DRS had issued 1,225 refunds. Most were done electronically, according to the department. On Tuesday, […] [Read More]
Categories: Taxes
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Former Stamford Jefferies trader faces criminal and SEC fraud charges

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The U.S. Securities and Exchange Commission and the U.S. Attorney for the district of Connecticut announced Monday that Jess Litvak, a former broker and managing director of Jefferies and Co., has been indicted on criminal charges and is also facing civil charges over trades mortgage-backed securities trades he allegedly made between 2009 and 2011. The […] [Read More]
Categories: Fraud
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Bridgeport-Stamford construction job growth in top 25

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The Associated General Contractors of America published its monthly review of the construction job market for U.S. metro regions and found Bridgeport-Stamford to be the 23rd best in the country in December. The local market here added 1,000 jobs last month, with some of that hiring sparked by cleanup work related to hurricane Sandy. Hartford […] [Read More]

Powers turns Hubbell helm over to Nord

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Timothy Powers held his last conference as CEO of Shelton-based Hubbell Thursday stepping aside as CEO, making way for David Nord. “Before we discuss the financial results, I would like to take this opportunity to express what an honor and privelege it has been leading Hubbell over the past decade,” Powers said, noting that Nord […] [Read More]
Categories: General, Wall Street

Connecticut had the fastest shrinking labor force in 2012

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New Haven-based economist Donald Klepper-Smith crunched some numbers on the labor force and found Connecticut ranked first in the nation in both the total number of people who quit the labor force and the percentage decline in workers and available workers. The labor force is a technical measure that includes all people who are employed […] [Read More]
Categories: Economy, Labor

Sikorsky shows improvement in fourth quarter

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Sales increased three percent and Stratford-based Sikorsky Aircraft delivered 18 more aircraft in the fourth quarter of 2012 compared to the same period a year ago. The helicopter maker’s parent company, United Technologies said during a conference call with analysts that Sikorsky had sales of $2.17 billion in the quarter, but operating profit was down […] [Read More]