Economic Activity

TONIGHT in Providence, TPG will host a downcity celebration of the topping-off of the new Westin tower, complete with fireworks. /

TPG buys 50th hotel, in Florida

CRANSTON – Real estate developer and hotelier The Procaccianti Group yesterday announced the acquisition of its 50th hotel, The Westin Fort Lauderdale, which it...

Global selloff leaves investors cautiously bullish

U.S. investors, though still bullish in the longer term, are scaling back their portfolios after last month’s selloff. Twenty-eight percent of investors in a recent...
BUILDERS work on a new house in Denver. /

Fed, OCC under fire in mortgage meltdown

WASHINGTON – The Federal Reserve and U.S. Office of the Comptroller of the Currency are under fire by consumer advocates and former officials for...

U.S. current-account gap narrows in 4Q

WASHINGTON – The nation’s current-account deficit narrowed to $195.8 billion in the fourth quarter as oil prices fell, the U.S. Commerce Department’s Bureau of...

Cox to carry Ch. 12 NCAA broadcasts in HDTV

WEST WARWICK – Cox Communications will offer additional NCAA Basketball Tournament games to digital cable customers in Rhode Island, under its recent agreement with...

Viacom sues YouTube, parent Google for $1B

NEW YORK – Viacom Inc. (NYSE: VIA and VIA.B) today announced it has filed suit against YouTube and Google alleging “massive intentional copyright infringement...

U.S. job openings rate steady in January at 3.1%

WASHINGTON – The nation’s job openings, hires and total separations rates all were unchanged in January, the U.S. Department of Labor’s Bureau of Labor...
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Freedom Communications selling WLNE Ch. 6

IRVINE, Calif. – Freedom Communications Inc. has agreed to sell WLNE-TV ABC6, the ABC affiliate serving Providence and New Bedford as Channel 6 and...

Bond investors worry as CDOs grow riskier

High-risk securities used in leveraged buyouts have taken on more risk over the last few years, causing bond investors to worry that they will...
THE CVS/CAREMARK merger proposal announced in November by Thomas M. Ryan, left, president and CEO of CVS, and Mac Crawford, his Caremark Rx counterpart, has won the endorsement of advisory service ISS. /

CVS/Caremark merger wins ISS approval

NASHVILLE, Tenn. – Caremark Rx. Inc. (NYSE: CMX) today announced that Institutional Shareholder Services, an independent proxy voting advisory service, is now advising clients...
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