W.R. Berkley increases share repurchase authorization

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The board of directors of W.R. Berkley Corp, Greenwich-based insurance holding company, has increased the company’s share repurchase authorization back to its previous level of 10 million shares of common stock. The 10 million share repurchase authorization represents about 7 percent of the company’s shares outstanding at Sept. 30. Repurchases may be made by the […] [Read More]
Categories: General

Starwood Hotels’ Element brand set to launch in Fargo

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Starwood Hotels & Resorts Worldwide, a Stamford-based hotel and leisure company with 1,169 properties in nearly 100 countries, will introduce its eco-wise Element brand to Fargo, N.D., in November 2015. Starwood, which has 171,000 employees at its owned and managed properties, said the “green” hotel will have 130 rooms and be located across the street […] [Read More]
Categories: General

Sturm Ruger introduces revolver

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Southport-based Sturm, Ruger & Co. has introduced the LCRx, a variation of the Lightweight Compact Revolver. Chambered in .38 Special +P, the LCRx features an external hammer that allows it to be fired in single-action mode. “Since its introduction in 2009, the LCR has become extremely popular with conceal carry customers seeking the simplicity of […] [Read More]
Categories: General

State dealing with stagnant job market

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The job market in Connecticut is slowly improving, but a seasonal unadjusted unemployment rate of 7.5 percent for the third quarter is misleading, according to The Connecticut Economic Outlook: December 2013, published by the Connecticut Center of Economic Analysis, at the University of Connecticut School of Business. The seasonally adjusted level jumps to 7.9 percent, […] [Read More]
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CPACE funds Bridgeport office building project

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The Commercial Property Assessed Clean Energy program allocated $1.9 million to cut energy use at a 98,000-square-foot office building at 855 Main St., in Bridgeport. Through the program, building owners Forstone Capital in Darien and Spinnaker Real Estate Partners in South Norwalk, worked with M&T Bank. The energy savings realized by building owners are used […] [Read More]
Categories: General

Biodel reports improved financial results

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Biodel Inc., Danbury-based biopharmaceutical company focused on the development and commercialization of innovative treatments for diabetes, reported a net loss for the three months ended Sept. 30 $800,000, or 4 cents per share of common stock, compared to a net loss of $5.9 million, or 42 cents per share of common stock, for the same […] [Read More]
Categories: General

State agriculture panel reports to Malloy

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State Agriculture Commissioner Steven Reviczky announced the Governor’s Council for Agricultural Development has presented its 2013 findings and recommendations to Gov. Dannel Malloy. The council’s December 2013 update (available at www.GrowConnecticutFarms.com) summarizes the council’s second year of work on Grow Connecticut Farms, the strategic plan for Connecticut’s $3.5 billion agricultural industry, and includes 12 recommendations […] [Read More]
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Great Point closes $215 million buyout fund

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Great Point Partners, a Greenwich-based health care investment firm focused on growth investing, has closed Great Point Partners II, LP, a $215 million growth buyout fund. This new fund is larger than the firm’s prior fund, GPP I which was $156 million and exceeds the firm’s $200 million fund raising target. GPP II, like Great […] [Read More]
Categories: General

Xerox expands in Europe with Invoco purchase

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Xerox has agreed to acquire German-based Invoco Holding, expanding its European customer care services. Headquartered in Norwalk, more than 140,000 Xerox employees serve clients in 160 countries, providing business services, printing equipment and software for commercial and government organizations. Invoco will provide Xerox’s global customer base with access to German language customer care services while […] [Read More]
Categories: General

Urstadt Biddle to repurchase shares

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Urstadt Biddle Properties Inc., Greenwich-based self-administered equity real estate investment trust which owns or has equity interests in 63 properties containing about 4.7 million square feet of space, announced a share repurchase program of up to 2 million shares of the company’s common stock, Class A common stock, Series D cumulative preferred stock and Series […] [Read More]
Categories: General