Friday, February 3, 2023

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RIPEC: R.I. economy stalled in Q4

PROVIDENCE – Rhode Island’s economic growth stalled in the fourth quarter of 2022 and continues to lag both the region and nation, according to...

Sensata Technologies sees profit narrow to $310.7M in 2022

ATTLEBORO – Industrial technology manufacturer Sensata Technologies Holding PLC posted a $310.7 million profit for 2022, a 14.6% decline from a year earlier, the...

U.S. wage growth slowed in the final quarter of 2022

WASHINGTON (AP) – Pay and benefits for America's workers grew at a healthy but more gradual pace in the final three months of 2022,...

Hasbro: ‘Small percentage’ of R.I. employees will be laid off

PAWTUCKET – Hasbro Inc. spokesperson Allison McEneaney told Providence Business News Friday that only “a small percentage" of the approximately 1,000 employees the company...

U.S. inflation and consumer spending cooled in December 

WASHINGTON (AP) – The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's...

Mearthane Products receives investment from Compass Group

CRANSTON – Compass Group Equity Partners, based in Missouri, will make an investment of unknown value into Mearthane Products Corp. as it announces a...
HASBRO INC. announced Thursday that it is laying off 1,000 people, a process that is expected to start in several weeks. / PBN FILE PHOTO

Hasbro to lay off 1,000 people; impact in R.I. unclear

PAWTUCKET – Toymaker Hasbro Inc. announced Thursday that it is cutting about 1,000 jobs as part of moves announced last year to save up...

U.S. economy slowed but still grew at 2.9% rate last quarter

WASHINGTON (AP) – The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of...
TEXTRON INC. reported Thursday that its net income for 2022 was $861 million, an increase from $746 million one year prior. / COURTESY TEXTRON INC.

Textron posts $861M profit in 2022

PROVIDENCE – Textron Inc. on Thursday reported that its net income for 2022 was $861 million, an increase from $746 million one year prior.  Earnings per diluted...

General Dynamics reports $3.4B profit in 2022

PROVIDENCE – General Dynamics Corp. on Wednesday reported a profit of $3.4 billion for 2022, a 4.1% increase year over year.  Earnings of $12.19 per...
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