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Oil drops to lowest in 3 months on economic outlook concern
Crude dropped below $87 a barrel to the lowest in almost three months in New York while London’s Brent futures fell for a sixth session as companies missed sales forecasts leading to concern about the global economic outlook. more
BofA to pay $2.43 billion to end shareholder suit over Merrill
Bank of America Corp. agreed to a $2.43 billion settlement with investors who suffered losses during its acquisition of Merrill Lynch & Co., resolving one of the biggest legal battles to stem from the takeover. more
Blue Cross fined $250K for unfair practices in large group market
R.I. Health Insurance Commissioner Christopher F. Koller issued an order Friday that found Blue Cross & Blue Shield of Rhode Island had engaged in unfair and discriminatory practices in large group markets. more
Jobs outlook seen weak as U.S. companies see need for cost cuts
Weakening demand is forcing new and accelerated cost reductions at companies from Bank of America Corp. and Hewlett-Packard Co. to Staples Inc. and Eastman Kodak Co., dimming the outlook for an already struggling U.S. labor market. more
Leading economic indicators edge upward in August
An index of Rhode Island’s leading economic indicators produced by Providence Business News and e-forecasting.com rose slightly to 120.1 in August. more
| 10/1/12
Pump prices rise 1 cent in R.I., Mass.
Gas prices in Rhode Island rose 1 cent this week after dropping 3 cents last, according to AAA Southern New England. more
| 10/1/12
Initial jobless claims in U.S. rose last week to 361,000
The number of Americans filing first-time claims for unemployment insurance payments rose for the first time in five weeks, a sign further improvement in the labor market depends on faster economic growth. more
RIPEC: R.I. tax burden among highest in country
Rhode Island’s fiscal year 2010 tax burden was among the highest in the country, according to the R.I. Public Expenditure Council’s annual report: “How Rhode Island Revenues Compare.” more
Fed’s Dudley says housing is key obstacle to economic growth
Federal Reserve Bank of New York President William C. Dudley said weakness in the housing market is one of the main forces creating a “disappointing” economic recovery. more
Campanelli to leave Flagstar
Former Sovereign Bank executive Joseph Campanelli is leaving his position as president and CEO of Flagstar Bancorp Inc. to pursue other interests, reported Crain’s Detroit Business. more
| 10/5/12
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