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Economy

NY redacts SUNY legal contract

ALBANY — The State University of New York has hired a Manhattan law firm for up to $1.5 million but so far state officials and the firm aren’t talking about it, or whether it’s related to a federal investigation of ...

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Yuan devaluation could weigh on Chinese buyers of US homes

Shanshan Wu already owns three houses back home in China. But the 36-year-old has spent the last two months in Chicago shopping for a three-bedroom. She’s got cash to spend – up to $400,000. And she’s not done. “The real ...

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NY unemployment lowest in more than 7 years

The statewide unemployment rate decreased from 5.4 percent to 5.2 percent in August, reaching its lowest rate since May 2008, according to preliminary figures released Thursday by the state Department of Labor. New York City’s unemployment rate also dropped over ...

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RG&E supporting Midtown development

Officials from Midtown Tower LLC Tuesday received a ceremonial big check from Rochester Gas & Electric. The $500,000 grant will support electric infrastructure improvements made during the $59 million renovation of the 17-floor, 408,904-square-foot Tower at Midtown, 280 E. Broad ...

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City seeking developer for Midtown Rising parcel

The city of Rochester has issued a request for proposals for the development of a 0.79-acre site known as Parcel 2 at 260 E. Broad St. at the Midtown Rising site. “The release of this Request for Proposals is an ...

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Proposed legislation would help small businesses expand

U.S. Sen. Kirsten Gillibrand was in Greece Tuesday to announce new legislation to help small businesses expand their advanced manufacturing operations and create and keep high-paying, high skilled manufacturing jobs in the United States.   Speaking at Intrinsiq Materials, she introduced ...

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Comptroller says high home foreclosure level persists

ALBANY — The foreclosure crisis persists in New York, even worsening in some suburban and upstate areas, the state comptroller reported Monday. Filings against homeowners unable to make mortgage payments spiked after the housing bubble burst in the 2008-2009 recession, ...

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9 charged with making $100M using hacked press releases

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  NEWARK, N.J. — An international web of hackers and traders was charged by U.S. authorities Tuesday with making $100 million by breaking into the computers of business newswire services, reading corporate press releases before they came out, and then ...

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China’s move to devalue currency could reverberate globally

BEIJING — China’s surprise move Tuesday to devalue its currency has intensified concerns about the world’s second-largest economy, whose growth has reached a six-year low. It may also fan political tensions with the United States and Europe, whose exports could ...

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NY reached record employment last year

New York’s employment topped nine million jobs last year, a record with 538,000 added since the recession, the state comptroller reported Monday. The report showed 143,000 jobs added in 2014, capping four years of steady gains. But growth was uneven ...

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Total reboot: How to fix Greece’s economy

ATHENS, Greece — After so much pain, Greece must now figure out how to get its economy back on its feet. The scale of the country’s financial problems is mind boggling — a full quarter of the economy evaporated in ...

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