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Auditors: National Science Foundation suspends UConn grants

STORRS, Conn.- The National Science Foundation has frozen more than $2 million in grants to the University of Connecticut after a foundation investigation found two professors used grant money to buy products from their own company, Connecticut state auditors disclosed Friday. Auditors John Geragosian and Robert Ward also said UConn officials failed to...
Source: The Associated Press
Gas pipeline promoted for economic development potential

SOUTHINGTON, Conn.- A Houston energy company executive told a Connecticut business group that a regional natural gas pipeline would keep businesses from moving to states where energy is cheaper. Allen Fore, vice president of public affairs at Kinder Morgan, pitched the idea Friday before nearly 250 business owners and representatives at a meeting of the...
Source: The Associated Press
Head of business group slams proposed tax, spending package

SOUTHINGTON, Conn.- The head of the largest business advocacy group in Connecticut criticized a package of tax and spending increases advanced by two committees of the legislature and urged businesses Friday to lobby against the proposals. Joe Brennan, president of the Connecticut Business and Industry Association, told nearly 250 business owners and...
Source: The Associated Press
Genesee & Wyoming beats 1Q profit forecasts

DARIEN, Conn. _ Genesee& Wyoming Inc. on Friday reported first-quarter profit of $23.9 million. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share. Genesee& Wyoming shares have increased slightly more than 3 percent since the beginning of the year.
Source: The Associated Press
UIL misses Street 1Q forecasts

NEW HAVEN, Conn. _ UIL Holdings Corp. on Thursday reported first-quarter profit of $57.6 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share. Three analysts surveyed by Zacks expected $668.9 million.
Source: The Associated Press
Navy runs tests on lint, clears cotton coveralls for subs

HARTFORD, Conn.- As the Navy prepared to roll out cotton, flame-resistant coveralls for submarine sailors it needed first to assess a possible threat: There was concern the boats' ventilation systems could be clogged by lint. After testing them out aboard USS Montpelier, a Virginia-based attack submarine, the Navy gave the all-clear for skippers to begin handing...
Source: The Associated Press
$100M homes? Luxury buyers reach a new threshold

Billionaires are increasingly willing to pay $100 million for homes that can serve as showcases for their fortunes.
Source: The Associated Press
$100 million for a home? Luxury buyers reach a new threshold

Rather than settle for garages of antique cars or a museum's worth of paintings, billionaires are increasingly willing to pay $100 million for homes that can serve as showcases for their fortunes, according to an analysis issued Thursday by Christie's International Real Estate. Sales in Manhattan, Los Angeles, San Francisco, London and other global hubs are...
Source: The Associated Press | By: By JOSH BOAK, AP Economics Writer
WWE posts 1Q profit

STAMFORD, Conn. _ World Wrestling Entertainment Inc. on Thursday reported first-quarter net income of $9.8 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Stamford, Connecticut- based company said it had net income of 13 cents. Keywords: World Wrestling Entertainment, Earnings Report.
Source: The Associated Press
Emcor Group misses Street 1Q forecasts

NORWALK, Conn. _ Emcor Group Inc. on Thursday reported first-quarter net income of $32.8 million. Emcor Group expects full-year earnings to be $2.65 to $2.95 per share. Emcor Group shares have decreased roughly 1 percent since the beginning of the year.
Source: The Associated Press