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Newport Fed’s bottom line falls 65% in 1Q
Newport Bancorp Inc., parent of Newport Federal Savings Bank, saw its bottom line fall 64.9 percent year over year during the first quarter of 2013. more
| 4/19/13
U.S. takes payroll-tax increase in stride to keep spending
Consumers and businesses are treating higher payroll taxes and federal spending cuts as just a speed bump for a U.S. economy poised to accelerate later this year. more
Report: Despite growth, R.I. recovery ‘still lags’
Even though Rhode Island has gained some economic strength in 2013, the Ocean State “still lags behind other states in New England when looking at major economic indicators such as growth of the gross state product and the unemployment rate,” according to the spring 2013 New England Economic Outlook report from the New England Economic Partnership. more
| 5/22/13
HUD awards $2.5M to R.I. to protect against lead paint
The U.S. Department of Housing and Urban Development has award $2.5 million in grants to the Rhode Island Housing and Mortgage Finance Corp. to help “protect children and families from the hazards of lead-based paint and from other home health and safety hazards,” HUD announced Friday. more
| 5/24/13
Twin River to go live with table games in June
Twin River Casino will officially open table games to the public on June 19, 12 days ahead of the original July 1 opening date, the casino confirmed Thursday. more
| 5/30/13
R.I. to land $105K for Google privacy breach
Pending a $7 million national settlement, Attorney General Peter F. Kilmartin joined 37 other states and the District of Columbia in a consumer privacy suit against Google Inc., collecting $104,491 for Rhode Island. more
SBLF lowers interest rate to attract applicants
The R.I. Small Business Loan Fund has lowered its average interest rate from 7.5 percent to 5.75 percent, the R.I. Economic Development Corporation announced Thursday. more
U.S. stock futures rise after hiring jumps more than forecast
U.S. stock-index futures climbed, indicating a second day of gains for the Standard & Poor’s 500 Index, as investors weighed the Federal Reserve’s stimulus plans after data showed employment increased more than forecast in May and the jobless rate rose. more
International demand for U.S. assets rises on global slowdown
International purchases of U.S. stocks, bonds and other financial assets rose more than forecast in December as investors sought shelter from slowing global growth. more
Skepticism about U.S. spending seen in consumer stocks
Investors are skeptical that U.S. retail spending will exceed forecasts this year, as some consumer-discretionary stock indexes have yet to reach new multi-year highs relative to their defensive counterparts. more
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