President Barack Obama has proposed a $1 billion federal investment in advanced manufacturing and a group of congressmen from Rhode Island and Connecticut would like to see even more spent on boosting the sector in southern New England. more

BOSTON – Attorney General Martha Coakley’s office announced last week that it had joined 37 other states in a $90 million settlement with GlaxoSmithKline LLC. The lawsuit resolves allegations that the pharmaceutical company unlawfully promoted its diabetes drug, Avandia, by misrepresenting its cardiovascular risks and safety profile. According to a statement, the settlement will bring more than $2.1 million to the commonwealth. more

Toray Plastics (America) Inc. has invested roughly $15 million to expand its North Kingstown facility and install new coating equipment in order to meet the customer demand for “value-added films with advanced specialty layers,” said a company release. more

Textron Inc. – parent of Bell Helicopter, Cessna Aircraft Company and Textron Systems – posted net income of $148 million, or 51 cents per share, in the fourth quarter of 2012, reversing the $19 million, or 7 cents per share, loss for the same 2011 period. more

Nortek Inc., a residential and commercial ventilation maker, has signed a definitive agreement to acquire Lehi, Utah-based 2Gig Technologies Inc., Nortek announced Thursday. more

It’s a recipe for economic stagnation business leaders in Rhode Island know only too well – companies with jobs open, a lack of skilled workers to fill them and a stubbornly high unemployment rate, currently at 10.4 percent. more

Orders to U.S. factories fell in January by the most in five months, weighed down by a slump in demand for military hardware and commercial aircraft. more

Exports from the Ocean State increased 19.3 percent in January to $227.9 million on a month-to-month, seasonally adjusted basis after dropping 0.5 percent in December, according to an international trade statistics report from e-forecasting.com. more

PROVIDENCE – United Natural Foods’ fiscal fourth-quarter profit rose 46 percent from a year ago, The Associated Press reported last week. more

Exports from the Ocean State dropped 0.5 percent in December to $191.1 million on a month-to-month, seasonally adjusted basis after rising a revised 3.4 percent in November, according to an international trade statistics report from e-forecasting.com. more