Local News
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Bill Ackman sold all of his shares in General Growth Properties Inc., the second-largest U.S. shopping-mall owner, marking the end of one of the hedge-fund manager’s most profitable investments. more
As the American team for the Volvo Ocean Race prepares to share its plans Thursday night at a presentation at the Jane Pickens Theater, economic activity connected with the race is already beginning to pick up, according to Sail Newport. more
(Updated, 1:39 p.m.) The National Weather Service has issued a winter storm warning for the Interstate 95 corridor from Providence to Boston, projecting snow accumulation of 4 to 8 inches and low visibility through 7 p.m. Thursday evening. more
(Updated, 6:33 p.m.) Responding to the abrupt cancellation of a Wednesday press conference expected to announce details of a settlement in the state’s pension battle with public employee unions, Rhode Island legislative leaders said the only thing the General Assembly can do is “wait and see” how the settlement unfolds. more
Royal Bank of Scotland Group PLC’s credit rating may be downgraded by Moody’s Investors Service after the bank said last month that full-year results would be hurt by provisions and conduct-related costs. more
General Dynamics Corp. has been awarded one of three initial contracts in a $12.1 billion U.S. Coast Guard ship program, with competitor Huntington Ingalls Industries Inc. shut out. more
Fidelity Investments, the second-largest U.S. mutual fund company, reported a 13 percent increase in operating income last year as the rally in equities boosted assets. more
FM Global is creating 36 new jobs in information technology at its corporate offices here, the company said in a press release Wednesday, among more than 300 hires made in Rhode Island in the last five years. more
A.H. Belo Corp., parent company of The Providence Journal, reported full-year net income of $16.1 million, or 71 cents per diluted share, in 2013, compared with 2012 earnings of $526,000, as it saw revenue fall 2.3 percent for the year to $366.2 million. more
(Updated 2:10 p.m.) A press conference expected to publicize details of a proposed settlement of the state’s pension battle with public employee unions was abruptly canceled early Wednesday morning at the joint request of state and union attorneys, according to the Federal Mediation and Conciliation Service. more
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