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Bank of America Corp.’s record settlement with the Justice Department over the sale of mortgage bonds in the run-up to the 2008 financial crisis will be announced as soon as Thursday, two people with knowledge of the matter said. more
The decommissioned USS Saratoga is on its way from Naval Station Newport to a recycling plant in Brownsville, Texas, where it will be scrapped and recycled, according to the U.S. Navy. more
The Pentagon will cut 17 of the 343 F-35 fighters it planned to buy from Lockheed Martin Corp. in fiscal 2016 through 2019 unless Congress repeals automatic budget cuts, according to a new Defense Department report. more
State Street Corp. is eliminating 400 jobs, about 1.4 percent of its workforce, in a fourth round of cuts since 2010 as the third-largest custody bank seeks to reduce expenses to combat the impact of low interest rates. more
The University of Rhode Island broke ground Wednesday morning on a new LGBTQ Center on Upper College Road scheduled to open next spring. The groundbreaking took place at the site of the old Ruggles House, a vacant URI building at 19 Upper College Road that will be demolished to make way for the $2.1 million, 4,300-square-foot facility. more
Gov. Lincoln D. Chafee and R.I. Director of Revenue Rosemary Booth Gallogly on Tuesday appointed a receiver for the Central Coventry Fire District as the district prepares to liquidate its assets later this month. more
The Northeast regionally Consumer Price Index rose 1.6 percent on a non-seasonally adjusted basis during the 12 months ended in April, a less significant increase than the 2 percent jump in consumer prices nationally, according to a report from the U.S. Bureau of Labor Statistics. more
Rhode Island ranks second in the country for workplace safety, according to a report released Thursday by labor-union federation AFL-CIO that placed the Ocean State’s work-related fatality rate for 2012 at 1.7 per 100,000 workers. more
Security Innovation Inc. has acquired Safelight Security Advisors, a Rhode Island company specializing in information security and software-developer training, for an undisclosed sum. more
Rhode Island’s economic growth held steady in the first three months of 2014, according to the Rhode Island Current Economic Indicator index released Wednesday by the Rhode Island Public Expenditure Council and Bryant University’s Center for Global and Regional Economic Studies. more
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