Updated May 28 at 12:28pm
Local News
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Nortek Inc., maker of home and office security solutions, ventilation and air management products, and heating and cooling systems, reported a second-quarter net loss of $46.2 million, or $2.97 per diluted share, expanding the $8.6 million net loss, or 55 cents per diluted share, posted for the first quarter. more
Rhode Island ranked second among states in February for its percentage of mortgages that were 90 days delinquent or more at 3.7 percent, according to Black Knight Financial Services. more
Blue Sphere Corp., an Israeli developer of waste-to-energy projects, has agreed to form a joint venture with York Capital Management to build and operate a U.S. biogas facility. more
(Updated, 8:30 p.m., March 18) An ordinance that proposes a uniform approach to tax stabilization agreements for projects in the former Interstate 195 corridor will be introduced to City Council this week. more
Summer Infant, a maker of products for the newborn to age 3 group, has sued board member and former CEO Carol Bramson as well as two other former company executives and company consultants in federal court alleging theft and misappropriation of trade secrets after it says they were caught “red-handed” by writing about their plans to create a competing company. more
The office and industrial sectors of the Rhode Island commercial real estate market strengthened in 2014, according to an analysis by Capstone Properties, with large properties showing the greatest sales gains. more
(Updated 12:45 and 1:16 p.m.) To compete with Massachusetts gaming, the owners of Twin River Casino said Tuesday they are proposing to build a casino with table games on 45 acres in Tiverton and transfer Newport Grand’s gaming license to it. more
Verizon Communications Inc., the largest U.S. wireless carrier, exceeded analysts’ first-quarter profit estimates even as the company was forced to give away tablets to counter the popularity of smaller rival T-Mobile US Inc. more
The Slater Technology Fund has committed another $100,000 to Enhanced Energy Group. more
Forty-two states had statistically significant jobless rate declines year over year in January, but Rhode Island and Illinois experienced the largest declines at 2.1 percentage points each, according to the federal Bureau of Labor Statistics. more
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