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Raytheon Co., the world’s largest missile maker, reported a 6.3 percent decline in first-quarter sales, reflecting a slowdown in the federal marketplace. The shares fell the most since November 2012. more
The U.S. economy barely grew in the first quarter as harsh winter weather chilled investment and exports dropped. The expansion stalled even as consumer spending on services rose by the most in 14 years. more
Nortek Inc. announced Wednesday that it has completed its acquisition of the heating, ventilation and air conditioning business of Thomas & Betts Corp., a wholly owned subsidiary of international power and automation manufacturer ABB Ltd. more
Mayor Angel Taveras unveiled a $678.4 million city budget proposal for fiscal 2015 Tuesday that would maintain the current residential and commercial tax rates. more
Bank of America Corp. CEO Brian T. Moynihan won permission last month for the firm’s first dividend increase since the financial crisis. Now he’s under pressure to salvage the payout after the company mistakenly inflated capital levels by about $4 billion. more
Stanford University’s decision this week to end investments in coal companies may bolster student- led campaigns to stop climate change that have spread to hundreds of U.S. college campuses. more
The Rhode Island Chronic Care Sustainability Initiative, which operates patient-centered primary care practices throughout the state, has announced plans to add 20 additional practices this year, bringing care to as many as 100,000 more Rhode Islanders. more
Princeton University paid four of its endowment managers a combined $9.2 million in 2013, a 46 percent increase from a year earlier and four times the increase Harvard University paid its top investors. more
General Electric Co., seeking approval from France’s government for its $17 billion Alstom SA energy bid, is in early-stage talks with nuclear-plant maker Areva SA and other French companies about asset sales or partnerships, people familiar with the matter said. more
Rhode Island and seven other states aiming to get more than three million zero-emission vehicles on the road in the next decade, unveiled steps to help achieve that goal including harmonizing consumer incentives and encouraging fleet purchases. more
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