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John Barnett has been named vice president of finance and chief financial officer of the Rhode Island Foundation following a search to replace former CFO Michael Jenkinson, who left the nonprofit in December. more
The NanoSteel Co. has awarded an exclusive worldwide license to its wear-resistant steel coatings to Cleveland-based Lincoln Electric, which designs and manufactures arc-welding products, robotic welding systems, and plasma and oxy-fuel cutting equipment. more
The Pentagon paid Textron Inc.’s Bell Helicopter unit $8,123.50 each for gears that should have cost $445.06, according to a report by the Defense Department’s inspector general. more
U.S. Sens. Jack Reed and Sheldon Whitehouse and U.S. Reps. James R. Langevin and David N. Cicilline announced Tuesday that Rhode Island will receive $432,696 in federal funding under the Land and Water Conservation Fund. more
Rhode Island’s defense industry contributed $3.75 billion to the state’s economy in 2013 and supported as many as 33,806 jobs statewide, according to a report released Tuesday by the R.I. Defense Economy Planning Commission. The defense economy generated $1.93 billion in income for Rhode Island households last year as well as $106 million in tax revenue for the state. more
U.S. stocks fell a second day from record levels, with the Nasdaq Composite Index tumbling the most since April, as investors sold Internet and biotechnology shares before the start of earnings season. more
Two in five American households responding to a survey by the National Center for Health Statistics said they had no landline telephone service and used cell phones as their only means of phone communication, the Centers for Disease Control and Prevention reported Tuesday. more
Job openings rose in May to the highest level in almost seven years, a sign the U.S labor market will help boost economic growth in the second half of this year. more
Moody’s Investors Service has affirmed its “Baa2” rating of Pawtucket’s $34.9 million in long-term general obligation bonds and raised the city’s rating outlook from negative to stable. more
On the heels of lawmakers’ postponement of use of the NECAP standardized testing as a graduation requirement, Rhode Island’s education commissioner has told school superintendents the NECAP will not be administered in the fall in math or reading in any grade. more
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