Business

“We’ve all got one hand tied behind our back"
5:46 am
Wed September 10, 2014

Apple Pay, another unregulated business with your data

Reserve System member Daniel Tarullo testifies on Capitol Hill, in Washington Wednesday, June 6, 2012, before the Senate Banking Committee hearing.
Credit AP Photo/Manuel Balce Ceneta

On the same day Apple unveiled a new mobile payment system, regulators warned Capitol Hill about the hazards of non-bank companies having access to financial data.

"Ironically," regulators said Tuesday, Home Depot also confirmed the theft of banking data from millions of customers.

Apple says their payment system is designed to be more secure than the one Home Depot uses, but it is also one more company with access to your financial data that’s not subject to government oversight. 

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Salex Tax
10:57 am
Fri August 15, 2014

Back to school shoppers: Hunting for tax breaks and bargains

Retailers are optimistic about back to school sales because of a strengthening job market and falling gas prices.
Credit Justin Sullivan / Getty Images

For millions of Americans, August is a month for relaxing and basking in the summer sunlight.

Those are the people without children.

The households with students are likely to be scurrying around under the bright florescent lights of big-box stores, searching for back-to-school bargains on clothes, shoes, notebooks, backpacks, computers and dorm furniture.

And many shoppers are timing their purchases to take advantage of sales-tax holidays for school-related items, hoping to keep a bit more in their wallets.

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Business
4:29 pm
Tue August 12, 2014

LI tech companies having trouble finding talent

Companies set up tables to display their products to potential investors and employees at Launchpad LI's Tech Day in Huntington. Launchpad LI is an incubator, business accelerator, and coworking community space on Long Island.
Credit Gabrielle Fonrouge

Long Island technology companies gathered in Huntington on Tuesday at an event called Tech Day. The businesses were in search of talent and investors.

BluChip SEO is an internet marketing startup based in Smithtown. The company's managing partner, Harold German, came out to Long Island tech day to attract new talent.

“Over the past ten to fifteen years, there has been sort of a talent exodus of 18-34 year olds," German said. "that is concerning because we have a need here for local businesses to be optimized.”

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$65M in "kickbacks" annually
4:53 pm
Mon August 4, 2014

NY regulators investigate mortgage empire

Benjamin Lawsky, superintendent of New York State Department of Financial Services.
Credit AP/Mike Groll

New York banking regulators are investigating one of the nation's largest non-bank mortgage servicing companies, Ocwen Financial, over worries the company is bilking $65 million a year in kickbacks from both struggling homeowners and investors.

Watchdogs are scrutinizing the controversial, but common, practice of forcing homeowners to buy overpriced property insurance once they fall behind in their mortgage payments.

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Bridgewater composting pilot shows how it works
1:51 pm
Thu July 31, 2014

Conn. community tries recycling food waste

Chef Damian Krieg at the Village Store in Bridgewater, Connecticut now puts food wast in a compost heap.
Credit Jan Ellen Spiegel

Connecticut has struggled for years to cut its amount of trash by increasing recycling. It turns out food waste and other organics account for the single biggest category of trash and about a third of the waste stream. Finding new ways to deal with food waste has been a slow go – but that might be changing.

(Read Jan Ellen Spiegel's story in the Connecticut Mirror on the the composting pilot here).

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