Business, economic news

AP Photo/Thomas Ferrigno

Average Wall Street bonuses were down 9 percent last year to $146,200 as industry profits declined, New York's comptroller reported Monday.

Industry-wide profits decreased by 10.5 percent, the third straight yearly decline, according to the annual estimate from State Comptroller Thomas DiNapoli. The comptroller said revenues were weak, especially from trading and underwriting. Profits were at their lowest reported level since 2011.

The bankrupt Suffolk OTB is trying to get its plan for a Video Lottery Terminal (VLT) casino in Medford finalized before a bankruptcy court hearing in April. However, community opposition is making that difficult.

(AP Photo/Mike Groll)

New York Governor Andrew Cuomo said he’s fighting a proposed merger of Key Bank with first Niagara Bank. He said it would limit choice for New York consumers and could possibly violate antitrust laws

Bridgeport Library Becomes Hub For Small Business

Nov 30, 2015
Cassandra Basler

The aroma of evergreen embers filled the conference room at the Bridgeport Public Library, but it wasn’t coming from the fire that burned in the stone hearth.

Volkswagen admitted it intentionally cheated on federal emissions tests. The German automaker now faces billions of dollars in fines and litigation, plus the cost of fixing some 11 million diesel cars worldwide.

That's just the company. The scandal is costing owners, too — at least those who are trying to sell their VW diesels. Not surprisingly, resale prices for the affected cars have been falling.