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Regional Council names top priorities and more

From Business Today:

TripathiDuffyZemsky

The Western New York Regional Development Council has prioritized a list of local projects for which to seek $40  million in state funding. Of the Council's 12 recommended projects, three of them have to do with the Medical Campus and three are work force development programs. Also making the list is the Niagara Experience Center, a museum and visitors center in Niagara Falls, as well as revitalization projects targeting Olean's and Buffalo's business districts.

Drilling Rig

New York's ban on hydrofracking may actually end up benefitting the drillers it is currently keeping at bay. That's because natural gas prices have dropped by 17 percent--the lowest they've been in nearly nine years. Supplies of natural gas are plentiful, and releasing more through hydrofracking in the Marcellus Shale Region would only bring them down more.

 HealthNow

The State Department of Financial Services is directing 11 health insurers to issue refunds to consumers and businesses for overcharges in coverage. The Department found that the insurers overcharged 573,748 people a total of $114.56 million in excess premiums. Among those insurers are HealthNow New York and the parent of Univera Healthcare. They are accused of overcharging customers for coverage in 2010 and spending less than required by law on paying for medical care.

Profits at HSBC Holdings sank 35 percent in the third quarter. The huge drop in core pretax profits is attributed to lower corporate and investment banking revenues and higher bad debt charges. It reported an underlying pretax profit of $3 billion, down from $4.6 billion during the same quarter a year ago. The London-based parent of HSBC Bank USA is selling its entire upstate New York retail branch network as part of a global restructuring.

Who is getting hired, promoted and honored?

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Banks | Economic Development | Energy | Health Care
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