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Tuesday, September 29, 2020
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After Q1 loss, R.I. pension fund earns $450M in April rebound

PROVIDENCE – After a $900 million loss in the first quarter of 2020, the state pension fund is starting to rebound. Pension investments earned $450...

R.I. pension fund loses $900M in Q1

PROVIDENCE – The state pension fund lost nearly $900 million in the first quarter of 2020, with a $600 million hit in March alone...

Federal Reserve System reports annual net income exceeding $63B

PROVIDENCE – The Federal Reserve System’s estimated net income for 2018 is $63.1 billion, the Fed announced. The figure represents the combined profit of...
THE U.S. TREASURY Department said government borrowing this year will more than double from 2017 to $1.34 trillion in 2018. / BLOOMBERG NEWS

Treasury sees 2018 borrowing needs surging to $1.34T

NEW YORK - The U.S. Treasury Department said government borrowing this year will more than double from 2017 to $1.34 trillion as the Trump administration...
PRESIDENT DONALD TRUMP plans to issue an executive order Friday directing his administration to make it easier for small businesses to band together to set up retirement-savings plans. / BLOOMBERG NEWS FILE PHOTO/ANDREW HARRER

Trump wants retirement saving rules expanded for small companies

NEW YORK - President Donald Trump plans to issue an executive order Friday directing his administration to make it easier for small businesses to...
OPPORTUNITY ZONES: A map of the nominated census tracts in Rhode Island that Gov. Gina M. Raimondo submitted to the U.S. Treasury Department as Opportunity Zones, areas in which investors become eligible for tax incentives for investing in real estate projects or businesses. / COURTESY COMMERCE RI

Raimondo nominates 25 R.I. investment ‘opportunity zones’ to U.S. Treasury Department

PROVIDENCE – In the federal Tax Cut and Jobs Act of 2017, there was a provision designed to encourage investment in low-income areas that...
RHODE ISLAND HOUSING was awarded a $4.7 million federal grant to create and preserve 550 affordable apartments and homes across the state.

R.I. Housing wins $4.7M federal grant

PROVIDENCE - Rhode Island Housing was awarded a $4.7 million grant from the U.S. Treasury Department’s Capital Magnet Fund to preserve 550 apartments and...
IN AN EFFORT to help Americans determine if the amount of federal taxes being withheld from their pay is accurate under the new tax law, the U.S. Treasury Department Wednesday unveiled an online calculator, which is available at irs.gov. / BLOOMBERG FILE PHOTO/DANIEL ACKER

Tax cut calculator unveiled by Treasury to verify withholding

NEW YORK - The U.S. Treasury Department unveiled an online calculator Wednesday to help Americans determine whether the amount of federal taxes being withheld from...
ALLAN TEAR, co-founder and managing partner of Betaspring. An audit by the U.S. Treasury Department found that Betaspring misused $803,644 to fund operations from the Treasury's State Small Business Credit Initiative. / PBN FILE PHOTO/Michael Salerno

Federal audit finds Betaspring intentionally misused $804K

PROVIDENCE – A federal audit released this week claims business-accelerator and consultant Betaspring LLC intentionally misused $803,644 to fund operations in 2012. A manager of...
THE U.S. TREASURY MAINTAINED a $62 billion long-term debt for the sixth straight quarter and predicted a rising need for more borrowing in the coming quarters. / BLOOMBERG FILE PHOTO/JULIA SCHMALZ

Treasury maintains borrowing, notes outlook for rising needs

NEW YORK - The U.S. Treasury Department said it will maintain the issuance of longer-term debt for the sixth straight quarter at $62 billion...

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