Capital Goods
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Gas prices surged 3 cents in Rhode Island this week and 4 cents in Massachusetts as concerns about militant extremists causing unrest in Iraq affected oil and gasoline prices nationwide, AAA Southern New England reported. more
Rhode Island added 1,100 construction jobs between May 2013 and May 2014, an increase of 6.8 percent that ranked the state 12th in the country for highest percentage of construction jobs gained year over year, the Associated General Contractors of America reported. more
General Electric Co. clinched its biggest acquisition ever, the $17 billion purchase of Alstom SA’s energy assets, after the resolution of the French government’s last condition for the deal. more
The trade deficit in the U.S. narrowed more than forecast in May on record exports, signaling a pickup in global growth that will boost American manufacturers. more
Raytheon Co., the world’s largest missile maker, said second-quarter sales fell 6.8 percent as all four of its divisions reported declines. more
Rhode Island lost 500 construction jobs in June compared with the previous month, a decline of 2.9 percent that ranked the state 49th in the country for highest percentage of construction jobs gained month over month, the Associated General Contractors of America reported Friday. more
Industrial production climbed 0.2 percent in June, capping the strongest quarter in almost four years and indicating manufacturers are providing a bigger spark for the U.S. economy. more
Thirty-three percent of Rhode Island’s rural roads and 25 percent of its rural bridges are in need of repair, ranking Rhode Island among the U.S. states with the highest percentage of deficient rural roadways, according to a report issued Thursday by the Trip National Transportation Research Group. more
Textron Inc.’s V-22 Osprey, the tilt-rotor craft that entered development almost 25 years ago, is poised to win its first export deals as Israel and Japan close in on purchases. more
U.S. consumers may well remember the days, pre-2012, when shopping for an airline ticket was complicated by the airlines’ favored pricing scheme. Back then, an advertised $240 fare might suddenly turn out to be a $300 fare, given that taxes account for roughly 20 percent of the average domestic U.S. airfare. Passengers hated the system while the airlines – which hate price-comparison shoppers, because they drive down prices – embraced it. Fortunately, in 2012, the Department of Transportation imposed a rule requiring that the airlines advertise fares inclusive of the base fare, taxes and fees. Yet, notably, the rule didn’t prohibit the airlines from publishing the taxes and fees separately; it just required that they do so less prominently than the advertised, fully inclusive fare. The airlines, incensed at this pro-consumer bit of rulemaking, have been trying to overturn it ever since. more
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