Monday, September 14, 2026

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Economic Activity

URI pharmacy dean headed to Iowa

The University of Rhode Island’s College of Pharmacy is losing its leader. Donald E. Letendre, dean of pharmacy at URI since 2001, has accepted the...

Amgen to cut 2,000-plus jobs

Bloomberg News Amgen Inc., with its stock price dropping and profit slowing, announced last Wednesday that it would cut 2,200 to 2,600 jobs – 12...
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Manufacturer focuses on health care, environment

As president and chief operating officer of Mereco, Philip M. Papoojian knows firsthand the challenges of running a small business and of being a...
Aidan Petrie, left, and Stephen Lane, co-founders of Item Group, have grown the  company so much that a new financial structure is now needed. /

BDCRI provides loan to Item to prepare for growth

Item Group’s revenue has grown by more than 50 percent annually for the last two years, and company executives expect the growth to continue...
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Newport’s lessons for the Bahamas

A 15-person Bahamian group visited Rhode Island from Aug. 7 to Aug. 12 as part of the U.S. National Guard State Partnership Program. As Keith...
PHOTO COURTESY THE PROCACCIANTI GROUP  A VIEW from the Westin shows the R.I. Convention Center, right, and key Procaccianti properties: the Fogarty Building, center left, and in the background, La Salle Square. /

Reshaping a piece of downtown

Two years after the national real estate and hotel management company The Procaccianti Group announced its ambition to acquire and develop a “power block”...

Jumbo mortgage costs rise sharply across U.S.

When a client came to Homestar Mortgage looking to purchase a $1 million home in a waterfront area of South County recently, he learned...

Consumer sentiment takes a dive in August

ANN ARBOR, Mich. – The tightening of the credit markets is having an effect on consumers, according to the latest Reuters/University of Michigan preliminary...
QUAKER FABRICS President and CEO Larry Liebenow has been forced to preside over the slow demise of the company, which today filed for Chapter 11 bankruptcy protection.  /

Quaker Fabric files for Ch. 11 protection

FALL RIVER – Quaker Fabric Corp. (Nasdaq: QFAB) today announced that it and subsidiary Quaker Fabric Corp. of Fall River have filed voluntary petitions...
THE RATE the Fed cut today is the discount rate, indicated by the top green line. The line below it indicates the Fed's target for the federal funds rate, which policymakers left unchanged at 5.25 percent. /

Fed slashes its rate for loans to banks

WASHINGTON – The Federal Reserve Board today cut the interest rate it charges on direct loans to banks, paring the discount rate by 0.5...
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