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Providence, US
Sunday, May 27, 2018

Economic Activity

THE RESULTS of the Fed’s 2017 report on the economic well-being of U.S. households showed that two in five Americans don’t have enough savings to cover a $400 emergency expense, and one in four don’t feel they are “at least doing OK” financially. / BLOOMBERG FILE PHOTO/PATRICK T. FALLON

Fed poll shows many Americans missing solid job market’s bounty

NEW YORK - Many United States households remain in a precarious financial position despite unemployment falling to the lowest level in years, a new Federal...
SENSATA TECHNOLOGIES has entered into an agreement to sell its valves business for about $173 million. / COURTESY SENSATA

Sensata agrees to sell valves business for $173M

ATTLEBORO – Sensata Technologies Inc. has entered into an agreement to sell its valves business to Pacific Industrial Co. for $173 million, the companies...
IGT REPORTED a $64. 5 million loss for the first quarter of 2018.

IGT reports $64.5M loss for Q1

PROVIDENCE – International Game Technology PLC reported a net loss of $64.5 million for the first quarter of 2018, compared with a net loss...
MICHAEL REED, CEO of New Media, owner of the Providence Journal, said he company has cut highly paid but unproductive reporters while asking the remaining reporters to write more articles. Reed said the company's downsizing of newsroom staff at papers it acquires is not driven by profit motives. / PBN FILE PHOTO/BRIAN MCDONALD

Hard truth at papers across America: hedge funds are in charge

NEW YORK - A group of journalists protesting outside the offices of a New York City hedge fund recently shined a light on a little-known...
THE R.I. COMMERCE CORP. has approved $14.66 million in incentives over 10 years for four companies, which Commerce RI expects will add $118 million in new revenue for the state over 15 years. Above, Jesse Saglio, the chief operating officer and president of R.I. Commerce Corp, at left, and Gov. Gina M. Raimondo, at a recent meeting of the Commerce board. / PBN FILEPHOTO/MICHAEL SALERNO

Commerce RI authorizes $14.7M in incentives for companies’ expansion, relocation plans

PROVIDENCE – State officials authorized up to $14,655,000 in incentives Monday intended to attract two new companies to Rhode Island and encourage two existing...
RHODE ISLAND GAS PRICES increased 5 cents this week while gas prices in Massachusetts increased 6 cents. / BLOOMBERG FILE PHOTO/PAUL THOMAS

R.I., Mass. gas prices steadily rising

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island increased 5 cents this week to average $2.95 per gallon, 3...
THE U.S. SUPREME COURT ruled that employers can force workers to use individual arbitration instead of class-action lawsuits to press legal claims: / BLOOMBERG FILE PHOTO/AL DRAGO

Supreme Court says employers can bar worker class actions

NEW YORK - A divided United States Supreme Court ruled that employers can force workers to use individual arbitration instead of class-action lawsuits to...
GENERAL ELECTRIC CO. has agreed to merge its locomotive business with Wabtec Corp. in a deal valued at $11.1 billion. /BLOOMBERG FILE PHOTO/LUKE SHARRETT

GE revamp picks up pace with $11.1B Wabtec rail deal

NEW YORK - General Electric Co. CEO John Flannery is taking the biggest step yet in his plan to revitalize the beleaguered manufacturer, agreeing to...
PROVIDENCE BUSINESS NEWS' home page now includes a new emphasis on each week's print edition, while each story allows readers to purchase a bypass link to share the story with nonsubscribers.

PBN updates home page to highlight print edition stories, rich media,...

PROVIDENCE – Providence Business News has updated the PBN.com home page to emphasize each week’s print edition and the many stories it contains, as...
RHODE ISLAND construction employment rose 1.1 percent year over year to 18,500 in April, ranking No. 36 in the country and No. 5 in New England. / PBN FILE PHOTO/ MICHAEL SALERNO

AGCA: R.I. April construction employment growth No. 36 in U.S.

PROVIDENCE – Rhode Island construction employment increased 1.1 percent year over year in April, an increase of 200 jobs to 18,500, seasonally adjusted, according...
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