Updated March 26 at 5:46pm
Local News
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The two-year-old U.S. housing recovery is faltering. The Mortgage Bankers Association on Wednesday lowered its forecast for combined new and existing home sales in 2014 to 5.28 million - a decline of 4.1 percent that would be the first annual drop in four years. more
U.S. regulators are studying whether restrictions on marijuana should be eased, a step toward decriminalizing the drug at the federal level. more
Rhode Island’s May unemployment rate of 8.2 percent was the highest in the country for a seventh consecutive month, but Rhode Island was also one of 32 states with year-over-year unemployment rate declines designated statistically significant, the U.S. Bureau of Labor Statistics reported Friday. more
Standard & Poor’s Ratings Services has upgraded Providence’s “BBB” credit outlook from stable to positive to reflect Mayor Angel Taveras’ efforts to improve the city’s fiscal management practices and general fund balance, Taveras’ administration announced Friday. more
U.S. stocks rose, extending a record for the Standard & Poor’s 500 Index, as Federal Reserve comments spurred optimism that the economic recovery will accelerate. more
Providence Business News has chosen the winners of the 2014 40 Under Forty competition, to be honored Thursday, July 24, at Salve Regina University’s Ochre Court in Newport. The men and women of the 2014 class were selected from more than 100 applicants, based on career success and community involvement. more
Unemployment in Rhode Island slid one-tenth of a percentage point in May to a seasonally adjusted 8.2 percent, down from 8.3 percent in April, the R.I. Department of Labor and Training reported Thursday. Last month also represented the first time since April 2013 that the state’s civilian labor force improved on both a month-over-month and year-over-year basis. more
Town selectmen have contracted Considine & Furey to help bring a resort casino to Somerset, agreeing to pay the Boston law firm 25 percent of first-year sums from licensed gaming, the Taunton Daily Gazette reported. more
Fewer Americans are filing applications for unemployment benefits, consumer confidence is rising and manufacturing is picking up as the world’s largest economy shows additional signs of strengthening. more
City Council President Michael Solomon Thursday proposed a new system for awarding property tax treaties for major land developments that does not include mayoral or council approval. more
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