Economic Activity
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(Updated, 6 p.m.) Volvo Ocean Race CEO Knut Frostad will discuss “radical changes” to the global sailing event set to stop here in May 2015 at a press conference Tuesday, in conjunction with a three-day workshop for port officials planning to host the stopovers. more
Gasoline prices dropped in Rhode Island and Massachusetts this week but remained higher than the national average, according to the weekly survey by AAA Southern New England. more
Alex and Ani LLC CEO Giovanni Feroce has purchased a Newport mansion for $6.8 million, the jewelry company announced Friday. more
Care Technology LLC, a Lincoln-based manufacturer of linear LED lighting, took first prize and a $5,000 telecommunications-technology package in the inaugural Get Started Rhode Island business plan pitch competition, held Wednesday evening at the Renaissance Providence Hotel. more
Movoto Real Estate has named Rhode Island’s capital city the most “exciting” mid-sized city in the country, awarding high scores for Providence’s young population and vibrant nightlife. more
Builders began work on fewer U.S. homes than projected in August and applications for future work declined more than forecast, underscoring the risk that higher mortgage rates pose for the real-estate rebound. more
The votes against allowing casinos in two Massachusetts towns reveal clear winners and losers as they shed light on the continuing expansion of gambling in the Bay State, according to the Boston Business Journal. more
As the redevelopment of Garden City Center continues, several national retailers have opted to open locations there, the center’s managing company announced Wednesday. more
Rhode Island’s seasonally adjusted unemployment rate for August climbed to 9.1 percent, an increase from 8.9 percent in July, the R.I. Department of Labor and Training reported Thursday. more
Mattel Inc., the world’s largest toymaker, placed the most items on an annual industry list that tries to predict the hottest gifts for the holiday season. more
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