Local News
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Rhode Island and the Providence-Fall River-Warwick metropolitan area each saw unemployment rate declines in July from July 2012, according to U.S. Bureau of Labor Statistics non-seasonally adjusted data released Wednesday. more
Fewer Americans signed contracts in July to buy previously owned homes, a sign that rising mortgage rates are starting to slow momentum in the housing market. more
Bank of America Corp. must face a trial next month in a lawsuit alleging the bank’s Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages, a federal judge ruled. more
Rhode Island ranks among the top 25 state exporters in several industries, including 10th in scrap and recycled materials, according to the Business Roundtable. more
Housing, social service and defense industry leaders will join Rhode Island’s U.S. Senate delegation Wednesday for a roundtable discussion on the local impacts of federal spending cuts known as sequestration. more
Tiffany & Co., the world’s second-largest luxury jewelry retailer, reported second-quarter profit that topped analysts’ estimates as price increases and declining product costs helped counter tepid sales in the Americas. more
June saw a year-over-year decline in the foreclosure and 90-plus-day loan delinquency rates in the Providence-Fall River-New Bedford metro area, according to CoreLogic, the international property information service, although the declines were not as significant in the region as they were nationally. more
U.S. stocks fell, with the Standard & Poor’s 500 Index sliding for a second day, as growing tension over possible military action in Syria overshadowed a report showing consumer confidence unexpectedly rose in August. more
(Updated, 11:35 a.m.) The education of Latinos in Rhode Island reflects an achievement gap, compared with white students, that is among the 10 worst in the country, according to a new study by the Latino Policy Institute at Roger Williams University. more
(Updated, 9 a.m.) Rhode Island leaders are prepared to allow 38 Studios LLC’s federal bankruptcy trustee to use assets salvaged from the defunct video game company to investigate claims against its former executives and architects of a failed $75 million state loan guarantee. more
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