Updated May 27 at 10:27am
Local News
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Banco Santander SA, Spain’s biggest bank, said second-quarter profit rose 38 percent, beating analyst estimates, helped by the U.K. and a recovery in its home market. more
KVH Industries Inc., a provider of guidance and Internet systems for the maritime and defense industries, reported second-quarter net income of $55,000, or zero cents per share, an improvement over the first-quarter net loss of $1.1 million but a 96.5 percent decline compared with net income of $1.6 million, or 10 cents per share, for the second quarter of 2013. more
Rhode Island community health centers contributed an estimated $226 million to the state’s economy in 2013 and supported 1,779 jobs, according to a study released Friday by the Rhode Island Health Center Association. more
Rhode Island’s capital city ranks No. 52 in a list of the 100 best cities for women in business, compiled by the Bizwomen business journal and released Thursday. more
Imports dropped in June by the most in a year as the U.S. economy moved closer to energy independence, helping the trade deficit unexpectedly narrow. more
The Providence-Fall River-Warwick metro area unemployment rate dropped in June to 7.1 percent nonseasonally adjusted, nine-tenths of a percentage point lower than the 8 percent reported a month earlier, the U.S. Bureau of Labor Statistics said Wednesday. more
Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated. more
As part of the long-term recovery effort following the landfall of Hurricane Sandy, the U.S. Bureau of Ocean Energy Management and the state of Rhode Island are collaborating to evaluate sand resources for coastal resilience and restoration planning. more
Real gross domestic product in Massachusetts grew at an annual rate of 4.9 percent in the second quarter, reversing the economy’s contraction in the first quarter and outpacing U.S. economic growth for the same period, local economy journal MassBenchmarks reported in its Current Economic Index Wednesday. more
Bank of America Corp. is nearing a settlement with the U.S. Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis, according to people familiar with the talks. more
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