U.S. Deflation Fears Surface, Putting Fed On Alert
Monday, October 20, 2008 (150 reads)
Plunging commodity prices could drag U.S. inflation below zero next year and the Federal Reserve will have to stay alert to the risk of a damaging deflation that could erode the economy even if it worries that low interest rates could spark inflation over the longer term.
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Peoples Down 20 Percent In Q3
Friday, October 17, 2008 (251 reads)
Peoples United Financial of Bridgeport, parent company of Peoples United Bank, has reported net income of $46 million for the third quarter, a 20 percent drop compared to the same time last year.
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A.M. Best Downgrades XL Life
Friday, October 17, 2008 (301 reads)
A.M. Best Co. has downgraded the financial strength and issuer credit ratings of Bermuda-based insurer XL Life, a subsidiary of XL Capital Ltd., which has a significant presence in Hartford.
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Gale To The Chief
Friday, October 17, 2008 (209 reads)
Maj. Gen. Gale S. Pollock (Ret), former deputy surgeon general of the U.S. Army and chief of the U.S. Army Nurse Corps, has joined Aetna’s Military Health Care Advisory Committee.
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National Housing Starts Fall To 17-Year Low
Friday, October 17, 2008 (264 reads)
Construction starts on U.S. homes fell to a new 17.5-year low in September as builders scaled back amid a worsening housing slump and growing turmoil in financial markets that also helped pushed permits for new homes to a nearly 27-year low.
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Student Loan Corp. Gets Schooled In Q3
Thursday, October 16, 2008 (115 reads)
Net income at Stamford student lender Student Loan Corp., which is majority owned by Citibank, plunged 82 percent year-over-year in the third quarter because of “unprecedented turmoil in the financial markets.”
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