Energy
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The Northeast regional Consumer Price Index rose 1.8 percent on a nonseasonally adjusted basis during the 12 months ended in July compared with the national consumer price increase of 2 percent, according to a report from the U.S. Bureau of Labor Statistics. more
Citing a number of concerns, including community opposition to the location of large wind turbines near the city’s Point neighborhood, the U.S. Navy has shelved its proposed wind energy project in Newport. more
French President Francois Hollande’s government said General Electric Co. improved its proposal for Alstom SA’s energy business as Chief Executive Officer Jeffrey Immelt pledged to create new jobs, softening its stance on the U.S. company’s takeover plans. more
General Electric Co. agreed to a French government request to extend by three weeks the deadline for its planned $17 billion purchase of Alstom SA energy units. 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
Siemens AG is in talks with Mitsubishi Heavy Industries Ltd. about a joint bid to buy Alstom SA’s energy business and counter a $17 billion offer by General Electric Co. more
General Electric Co., which is working to refine its offer for Alstom SA’s energy assets, will present new terms on Thursday as it seeks to thwart a counter bid by Siemens AG, said two people familiar with the matter. more
This year’s Independence Day weekend gasoline prices were the most expensive since 2008. At $3.75 per gallon of self-serve, regular unleaded gas, Rhode Islanders are paying 15 cents more than last year. more
Confidence among U.S. consumers soared in July to the highest level in almost seven years as Americans grew more upbeat about the labor market and the outlook for the economy. more
Rhode Island gasoline prices remain unchanged since last week, but prices have dropped 21 cents since this time last year, when the average price of self-serve, unleaded regular was $3.73. more
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