Economic Activity
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Gannett Co. to buy Belo for $2.2B
Gannett Co. Inc. and Belo Corp. have entered into a definitive merger agreement for Gannett to acquire the multimedia company for $1.5 billion in cash and the assumption of $715 million in existing debt, for a total value of roughly $2.2 billion. more
| 6/13/13
R.I. environmental news service expands to Mass.
The nonprofit environmental news source ecoRI News, which was founded in Rhode Island in 2009, is launching a sister site – ecoMass.org – in order to cover environmental and social-justice news in Massachusetts. more
| 6/13/13
Retail sales in U.S. increased more than forecast in May
Retail sales in the U.S. rose more than forecast in May, showing job gains and lower borrowing costs are encouraging consumers to spend. more
Percentage of underwater homes in R.I. rises to 25.8% in 1Q
The number of homes in Rhode Island with underwater mortgages increased to 25.8 percent during the first quarter of 2013, CoreLogic reported Wednesday. more
| 6/12/13
Personal income grows in R.I. in recent years
Personal income in Rhode Island grew 1.5 percent from 2010 to 2011, but fell short of that mark from 2007 to 2011, as the Great Recession held real personal income growth to 0.5 percent, according to a report released Wednesday by the U.S. Bureau of Economic Analysis. more
| 6/12/13
NBC 10 tops May TV news ratings
(Updated, 4 p.m.) Statistics on local television stations’ news show ratings and demographics in the May sweeps have been announced, based on data from the Nielsen Co. WJAR-TV NBC 10 led the way with eight of the top 10 news shows in the region, but Eyewitness News on WPRI-TV CBS 12 and Fox Providence also showed impressive gains in several time slots. more
Small-business optimism in U.S. climbed to one-year high in May
Confidence among U.S. small businesses climbed in May to a one-year high as the economic outlook over the next six months brightened. more
Providence housing market ‘dangerous’ for investors
A new report has shown that Providence is the only one of the country’s top 100 housing markets that is currently classified as “dangerous” for investors, bucking generally positive national trends for home buyers, HomeVestors of America Inc. and Local Market Monitor reported late last week. more
U.S. outlook revised to stable by S&P as fiscal risks recede
The U.S.’s AA+ credit rating outlook was increased to stable from negative by Standard & Poor’s, based on receding fiscal risks, less than two years after stripping the world’s largest economy of its top ranking. more
Lardaro: R.I. economy starts Q2 on ‘disappointing note’
Despite some signs of strength, the Ocean State economy turned in an overall “disappointing” performance in April, according to University of Rhode Island economist Leonard Lardaro, who … more
| 6/10/13
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