Updated February 27 at 10:27am
Local News
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Towerstream Corp. reported a first-quarter net loss of $6.5 million, or 10 cents per share, widening by 15.7 percent the $5.6 million, or 9 cent-per-share, loss posted for the same three-month period last year. more
It’s back to square one for Rhode Island’s redevelopment of the former Shooters nightclub property in Providence. The R.I. Department of Environmental Management officially broke off talks May 1 with Bowl Arts LLC, the community group that had been hoping to build a concert and performing arts venue on the site. more
(Updated, 3:19 p.m.) Gov. Lincoln D. Chafee on Tuesday issued a statement defending the need for Rhode Island to repay the 38 Studios moral obligation bonds and criticizing gubernatorial candidates Cranston Mayor Allan W. Fung and Ken Block, who have voiced opposition to repayment. more
(Updated, 3:07 p.m.) The Rhode Island Foundation reported net assets of $734.4 million at the end of 2013, increasing by $101.6 million, or 16 percent, the $632.8 million reported the previous year, according to the organization’s 2013 annual report. Since 1993, the organization has seen its total assets increase more than 300 percent, from $197 million. more
A study conducted by the Tax Foundation found that Rhode Island collected $966 in state and local income tax collections per person in 2011, ranking the state No. 17 in the country for highest per-capita combined collections. more
Citizens Financial Group Inc., the U.S. consumer bank subsidiary of Royal Bank of Scotland Group PLC, filed a draft prospectus yesterday for an initial public offering in New York in the fourth quarter. more
Americans seeking medical marijuana for anything from pain to seizures must turn to a patchwork of small startups for help as U.S. laws keep traditional pharmacies out of a market that may exceed $6 billion by 2019. more
Rhode Island moved up 11 spots in a ranking of best states to retire in, compiled annually by personal finance website Bankrate.com. more
The R.I. Board of Education endorsed legislation Monday night that would authorize leasing terms for redevelopment of the South Street Power Station into an academic and nursing-school complex, paving the way for what Gov. Lincoln D. Chafee called a “meds and eds” project that is “a natural for us.” more
Prices for single-family homes climbed in 74 percent of U.S. cities in the first quarter, fewer than a year earlier, as the nation’s housing rebound cools. more
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