National Iron Bank Appoints New Chair, Vice Chair of the Board
National Iron Bank, a $298 million-asset community bank based in Salisbury, has appointed its new chairman and vice chairman of the board.
CT’s William Raveis Expands Again in Massachusetts
Shelton-based luxury residential brokerage William Raveis has bought its second Massachusetts brokerage in just under two months.
Bridgeport Sets Up Rent Control Board
Bridgeport is now the latest Connecticut city to set up a local Fair Rent Commission to adjudicate cases where a tenant objects to a big rent increase.
Megabank CEOs Warn New Regulations Could Harm the Economy
The heads of Wall Street’s biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration’s proposed changes to how banks are regulated.
Manchester Engineer CEO to Head CBIA Board
The CEO of Manchester engineering, planning and design firm Fuss & O’Neill is getting his turn to steer the state’s largest business group.
Yale Drops $140M on New Haven Labs
Yale University has bought a downtown New Haven office-to-lab conversion it’s occupied since the mid-2000s.
Inflation Eased in 2023. That’s Given Investors Hope for a Gentler Fed
Inflation gradually loosened its grip on Wall Street and the economy in 2023, raising hopes for a gentler Federal Reserve and solid gains for the market next year.
Mass. Firm Plans Bridgeport Battery Factory
Massachusetts-based Nanoramic Laboratories plans to build an electric car battery factory in Bridgeport that will employ around 200 people, but it’s unclear just where the new development will rise from the ground.
Here’s What Top Economists Think 2024’s Housing Market Will Look Like
Sellers giving in to a “new normal” for mortgage rates. Home prices staying roughly flat. Demand for apartments and rental houses staying strong. And life not getting any better for the workaday homebuyer.
Hartford Housing Market Could Be Near Top-Performer in 2024
Some experts expect the nation’s housing markets to begin a long, grinding climb-out next year from the multi-year inventory dives they’ve been on since 2020, but one Connecticut market is expected to be among the nation’s best.
Fed’s Powell Tries to Tamp Down on Rate-Cut Hype
Inflation is slowing steadily, but it’s too early to declare victory or to discuss when the Federal Reserve might cut interest rates, Chair Jerome Powell said in a speech Friday.
FDIC-Insured Banks Saw Decline in Combined Net Income in Q3
Around 4,614 banks insured by the Federal Deposit Insurance Corp. across America saw a decline in their aggregate net income in the third quarter versus the prior quarter due to lower non-interest income and higher losses on securities.
Downtown Norwalk Property Gets $20M Refresh
A $20 million gut renovation project by Norwalk-based Seligson Properties updated a 68-year-old bank building that includes Stamford Health medical offices and a Wells Fargo Bank branch.
Top Fed Official Hints at Spring Rate Cut
A key Federal Reserve official raised the possibility Tuesday that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily.
SBA Lending in Connecticut Up by 13 Percent in 2023
More small business owners in Connecticut were able to get loans backed by the U.S. Small Business Administration (SBA) in 2023, increasing by 13 percent compared to last year.
New Haven Storefronts Fetch $7M
The two adjoining storefronts sit at 51-55 and 57-61 Broadway, on one of the city’s main retail blocks adjoining the Yale University campus that’s also home to the popular “Shops at Yale.”
KeyBank to Quit Downtown New Haven Office Space
KeyBank is embracing remote work for some non-branch staff in New Haven and plans to move out of space in an office tower in that city by the end of the year.
CT Brokerage Donates Thanksgiving ‘Gift Baskets’ to Neighbors in Need
These “baskets” were really foil roasting pans creatively wrapped and filled with essential Thanksgiving staples, accompanied by a grocery gift card to purchase a turkey.
JPMorgan Chase to Consolidate Three Greenwich Branches
JPMorgan Chase is reorganizing its branch network in Greenwich, closing a total of three branches while opening three other branches.
Meeting Records Show Fed Officials Keeping Weather Eye on Data
Federal Reserve officials concluded earlier this month that inflation was steadily falling and agreed to closely monitor incoming data to ensure that the pace of price increases would continue slowing toward their 2 percent target, according to the minutes of their meeting released Tuesday.
