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The Rhode Island district office of the U.S. Small Business Administration and the city of Providence renewed a partnership that encourages economic development by assisting businesses on issues such as strategic planning, accessing capital and securing government contracts. more
Thomas A. Kennedy will be the new CEO of Raytheon Co., the world’s largest missile maker, beginning March 31. more
Rhode Island ranked No. 39 and Massachusetts ranked No. 47 in a new study by the Mercatus Center at George Mason University evaluating each state’s fiscal condition based on four separate measures of a state’s solvency. more
U.S. state revenue isn’t rising fast enough to keep up with the cost of funding pensions, health care and public works projects, underscoring financial strains that persist during the economic recovery, according to a report. more
Coastway Bancorp, the parent company of Coastway Community Bank, became a publicly traded company today, listed on the Nasdaq exchange under the symbol CWAY. The bank offering of $48.3 million in stock is listed at $10 per share. more
Secretary of State A. Ralph Mollis will offer a series of workshops geared toward educating small business owners about licensing, permitting, financing and other business-related issues, beginning with the premier session on Jan. 16. more
Bank of America Corp., the second-biggest U.S. lender, said fourth-quarter profit more than quadrupled as the company quelled claims tied to defective mortgages. The results beat Wall Street estimates, and the stock rose 2.6 percent in New York. more
Electric Boat President Jeffrey S. Geiger painted a glowingly positive picture of the future expansion and employment at the shipbuilder’s North Kingstown facility, with 650 new jobs in 2014 planned to be added to the current workforce of about 2,800. more
Alexion Pharmaceuticals Inc. has made a $25 million preferred equity investment in Moderna Therapeutics and will also provide $100 million up front as part of a long-term agreement to develop treatments for rare diseases with Moderna’s messenger RNA Therapeutics platform, the two companies announced Monday. more
The capital city of Rhode Island – also known as the Renaissance City or the Creative Capital – has recently appeared among the top ranked U.S. cities in a number of lifestyle-oriented studies. more
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