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Construction employment in Rhode Island rose six-tenths of a percent in March compared with the same period last year, adding 100 jobs for a total of 16,300 jobs, the Associated General Contractors of America reported Friday. more
LIN Media LLC directors structured Media General Inc.’s $1.6 billion buyout of the local TV-station operator in a way that unfairly benefits private-equity firm HM Capital Partners LLC over other shareholders, a pension fund claimed in a lawsuit. more
Spending on prescription drugs rose 4 percent last year, as more patients were prescribed specialty medications and took advantage of prescription benefits from their health insurance programs in an improving economy, CVS Caremark Corp. said Thursday in its annual Insights report. more
Bank of America Corp.’s Countrywide unit and insurer Allstate Corp. settled a 2010 lawsuit over $700 million in devalued mortgage-backed securities. Terms of the accord weren’t revealed. more
CVS Caremark Corp. and the Securities and Exchange Commission have reached an agreement to settle charges first made public in August relating to pharmacy benefits contracts and the accounting treatment of its 2008 purchase of Longs Drugs. more
Salve Regina University has named Scott C. Zeman, a dean at St. Thomas University, as its next provost and vice president for academic affairs. Zeman will start in his new post effective July 1. more
The number of Americans filling for unemployment insurance payments last week hovered near the lowest level in almost seven years, showing the job market is making progress. more
Bank of America Corp. and the New York Stock Exchange were among dozens of exchanges, brokerages and traders sued over high-frequency trading by the city of Providence over claims they rigged securities markets to divert billions of dollars from buyers and sellers of shares. more
Gains in manufacturing are helping power the U.S. out of the winter doldrums, while homebuilding shows signs of lagging behind. more
Consumer confidence rose in April to the highest level since July, boosted by further improvement in the labor market that will provide some traction for the economy after a weather-related slowdown early this year. more
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