Economic Activity

PBN names 2019 Fastest Growing & Innovative Companies

PROVIDENCE – Twenty local companies have earned a spot on Providence Business News’  2019 list of Fastest Growing Private Companies, and 14 organizations were...
NORWEGIAN AIRLINES, which is running ads on public transit buses in Dublin, Ireland, would be eligible for reimbursement for the campaign under the Air Service Development Fund program. / PBN PHOTO/MARK S. MURPHY

Is Norwegian Air canceling its trans-Atlantic flights from T.F. Green Airport...

When Norwegian Air announced that it was going to fly to Europe from T.F. Green Airport, it heralded a new day for Rhode Island...

R.I. economic index ties highest mark of year in June

PROVIDENCE – A current-conditions economic index for the state tied its highest mark so far this year by hitting a value of 75 in...
ENCORE BOSTON HARBOR generated $48.6 million in gambling revenue in its first full month. / BLOOMBERG NEWS FILE PHOTO/GETTY IMAGES/JESSICA RINALDI

Wynn’s new Mass. casino scores $49M in first month

LOS ANGELES – Wynn Resorts Ltd.’s new Boston-area resort generated $48.6 million in gambling revenue in its first full month, more than the state’s...
GEM PLUMBING & Heating LLC has purchased R.W. Bruno. Both companies are headquartered in Lincoln.

R.W. Bruno purchased by GEM Heating & Plumbing

LINCOLN – RWBHC Inc., an HVAC mechanical contractor headquartered in Lincoln that does business as R.W. Bruno, was sold to GEM Plumbing & Heating...
A SHORT-SELLER has accused General Electric Co. of masking financial problems. The company has vehemently denied the allegations, however, the company's stock fell up to 13% Thursday in its biggest intraday decline since late August 2015. / BLOOMBERG NEWS FILE PHOTO/DANIEL ACKER

GE sinks most since 2015 as Madoff accuser excoriates accounting

NEW YORK – General Electric Co. fell the most in nearly four years after a prominent whistle-blower working with a short-seller accused the company...
R.I. UNEMPLOYMENT declined 0.4 percentage points year over year to 3.5%. The number of Rhode Island-based jobs increased in that time, but the number of employed Rhode Islanders declined. The labor force also shrank by 2,500 people year over year.

As R.I. unemployment declines and jobs grow, labor force shrinks

PROVIDENCE – The unemployment rate in Rhode Island declined 0.4 percentage points year over year to 3.5% in July, according to the R.I. Department...
CAPITAL PROPERTIES reported a profit of $466,000 in the second quarter of 2019.

Capital Properties reports $466K profit in Q2

PROVIDENCE – Capital Properties Inc. reported a $466,000 profit in the second quarter of 2019, a 9.9% decline year over year.Earnings per diluted share...
PROVIDENCE'S GENERAL Obligation bonds rating was upgraded to a BBB+ from a BBB and assigned a stable outlook by S&P Global Ratings. / PBN FILE PHOTO/ CHRIS BERGENHEIM

S&P upgrades Providence general obligation rating

PROVIDENCE – S&P Global Ratings has upgraded the city’s general obligation debt rating to a BBB+ from a BBB, Mayor Jorge O. Elorza announced...
THE DOW JONES Industrial Average fell 800 points Wednesday in the worst rout of the year. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

U.S. stocks tumble as economic worries mount

NEW YORK – United States stocks suffered one of the deepest sell-offs of the year and Treasuries surged as mounting signs of a global economic slowdown...
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