Updated December 4 at 9:04pm
Financial Services
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Providence is one of the least safe cities for driving in the U.S., according to Allstate Corp., which released its 12th annual America’s Best Drivers report on Tuesday in time for the Independence Day weekend. more
(Updated 2:07 p.m.) Moody’s Investors Service has upgraded the city of Woonsocket’s bond rating to Ba3, up from B2, which affects some $153 million in outstanding debt, according to the rating agency. more
The Federal Reserve raised interest rates for the first time in almost a decade in a widely telegraphed move while signaling that the pace of subsequent increases will be “gradual” and in line with previous projections. more
The South Eastern Economic Development Corp. on Tuesday announced it has received $3.8 million to help it make small-business loans in Massachusetts and Rhode Island. more
Summer Infant Inc. reported $233,000 in profit, or 1 cent per diluted share, in the third quarter, reversing a loss of $1.8 million, or 10 cents per share, in the prior-year period, the baby and juvenile-product maker reported this week. more
U.S. stocks rose for the first time since Britain voted to leave the European Union, rebounding amid optimism that policymakers are committed to limit the fallout from the U.K.’s exit. more
It’s the beginning of the end for major job cuts at U.S. banks, according to Challenger, Gray & Christmas Inc., a firm that advises many of them on workplace reductions. more
Jennifer Hogencamp recently was elected as a partner for BlumShapiro, in its Providence office. more
Rhode Island’s CollegeBound Saver program netted a Silver rating and its CollegeBound 529 a Bronze from Morningstar, a research firm that tracks investment offerings, in its 2016 list of the best 529 plans. more
Rhode Island’s seasonally adjusted unemployment rate was 5.6 percent in August, up one-tenth of one percentage point from July and down two-tenths of one percentage point from the year prior, reported the R.I. Department of Labor and Training on Thursday. more
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