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Textron Inc. – parent company of Bell Helicopter, Cessna Aircraft Co. and Textron Systems – reported that its net income dropped 28.6 percent in the first quarter to $85 million, or 30 cents per diluted share, due in part to restructuring costs incurred by the manufacturer’s acquisition in March of Beech Holdings LLC. more
The U.S. Navy has awarded a $17.6 billion contract to General Dynamics Corp. and Newport News Shipbuilding for the next block of 10 Virginia-class submarines to be built beginning in fiscal year 2014 and continuing on to fiscal 2018. more
Rhode Island and Massachusetts both reported gasoline price increases this week, extending the trend of rising prices in both states for a fourth consecutive week, according to the weekly survey by AAA Southern New England. more
A $17.8 billion submarine contract, the biggest weapons deal announced by the U.S. military in more than a dozen years, kept Pentagon awards from sinking last month. more
Bell Helicopter, a subsidiary of Providence-based manufacturer Textron Inc., will lay off 325 workers due to the continued decline in defense contracts, the Fort Worth Star-Telegram reported Monday. more
Nortek Inc., maker of home and office security solutions, ventilation and air management products, and heating and cooling systems, posted a first-quarter net loss of $8.6 million, or 55 cents per diluted share, a reduction from the loss of $15.1 million, or 98 cent per diluted share, reported for the same period last year. more
Gas prices rose a penny in Rhode Island and remained unchanged in Massachusetts this week, while the national average dropped for the first time in months, according to the weekly survey by AAA Southern New England. more
Gas prices fell in Rhode Island and Massachusetts this week, ending five consecutive weeks of climbing or unchanged gasoline prices in the two states, according to the weekly survey by AAA Southern New England. more
General Electric Co., seeking approval from France’s government for its $17 billion Alstom SA energy bid, is in early-stage talks with nuclear-plant maker Areva SA and other French companies about asset sales or partnerships, people familiar with the matter said. more
Gas prices dropped a penny in Rhode Island and Massachusetts this week, but Rhode Island’s average remained greater than national gasoline prices, according to the weekly survey by AAA Southern New England. more
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