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Biden sees economy avoiding recession, but risks remain
WASHINGTON (AP) – President Joe Biden assured Americans on Friday that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. At the White House, the president signed an emergency bill to avert a rail strike that he […]
CFTC: Consent order entered against convicted R.I. crypto trader
WASHINGTON – The Commodity Futures Trading Commission on Thursday ordered a Rhode Island man now serving time in federal prison to pay $2.9 million in restitution for defrauding more than 170 people in a failed cryptocurrency scheme. Jeremy Spence, 26, formerly of Bristol and known on social media channels as “Coin Signals,” created the Coin […]
U.S. hiring stayed strong in November as employers add 263K jobs
WASHINGTON (AP) – The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate stayed 3.7%, still near a 53-year low, the Labor Department said Friday. […]
UNAP ratifies 3-year contract with CharterCARE
PROVIDENCE – Health care workers at Our Lady of Fatima Hospital, Roger Williams Medical Center, and CharterCARE Home Health Services have voted to ratify three-year contracts with Prospect CharterCare. Members of the United Nurses and Allied Professionals, representing 667 employees, voted “overwhelmingly” in favor of the contracts earlier this week, according to the union. The […]
ProJo parent begins latest round of layoffs
PROVIDENCE – Gannett Co., parent of The Providence Journal and other local newspapers, has begun a new round of companywide layoffs in its news division. In a letter from the news division’s new interim head, Henry Faure Walker, on Nov. 18, those who will be laid off were to be informed on Dec. 1 […]
Study: R.I. 10th-best state for millennials
PROVIDENCE – Rhode Island ranks as the 10th-best state for millennials, according to a recent study by scholaroo. The online scholarship finder gathered data on 52 metrics that impact millennials’ decisions on where to live. Considerations include the cost of living, homeownership rate, unemployment rate and median student loan debt, amongst other factors. All 50 […]
Senate moves to avert rail strike amid dire warnings
WASHINGTON (AP) – The Senate moved quickly Thursday to avert a rail strike that the Biden administration and business leaders warned would have had devastating consequences for the nation’s economy. The Senate passed a bill to bind rail companies and workers to a proposed settlement that was reached between the rail companies and union leaders […]
Feyisitan tapped as EBCAP's new CEO and president
EAST PROVIDENCE – The former Community Action Partnership of Providence CEO and president will take on the same role with the East Bay Community Action Program. EBCAP announced Thursday that Rilwan K. Feyisitan Jr. has been named the nonprofit human services organization’s new CEO and president. Feyisitan will succeed Dennis Roy, a 2020 Providence Business […]
List: Diversity Officers
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Does Rhode Island deserve its reputation for being among the nation’s least charitable states?
Rhode Island again ranked near the bottom of WalletHub’s annual list of the most charitable states, coming in at No. 45 in the ranking released last month. The list compares states in 19 indicators of charitable behavior, including volunteer rate, share of donated income and share of sheltered homeless. While one ranking system may somehow […]
R.I. COVID-19 cases increase by 1,008, with 3 new deaths
PROVIDENCE – Confirmed cases of COVID-19 in Rhode Island increased by 1,008 from Nov. 20-26, with three new deaths, the R.I. Department of Health said Wednesday. The department has switched from reporting data on COVID-19 statistics five days a week to a weekly report. Numbers are now reported Sunday through Saturday of the previous week. New hospitalizations […]
Cannabis retailers confident as recreational sales officially begin in R.I.
PROVIDENCE – Local dispensaries were confident Thursday that Rhode Island can now compete against neighboring states that had a head start in the industry as a steady stream of customers ushered in the start of recreational sales. “Our potential audience has grown by three or four-fold,” said Chris Reilly, a spokesperson for the Thomas C. […]
R.I. shopping centers feeling merry about December despite economic challenges
Crowded stores and stronger-than-expected sales have analysts predicting that the rest of the holiday shopping season will be a banner one despite higher prices, rising inflation and nagging COVID-19 concerns. “This holiday season was very interesting,” said Farbod Farhadi, associate professor of business management at Roger Williams University. “A number of forces were in play […]
Votes on ProvPort tax exemption, lease postponed amid public opposition
PROVIDENCE – Community pleas to delay a decision on extending the city’s tax exemption and lease agreements with its primary port operator were granted Thursday after the City Council tabled the matter rather than vote on the agreements. That last-minute decision came after dozens of local residents and community leaders implored city officials to hold […]
Bank of America awards $200K to New Urban Arts, Housing Network of R.I.
PROVIDENCE – Two Rhode Island organizations were recently awarded $200,000 each through Bank of America Corp.’s 2022 Neighborhood Builders program, according to a news release. The grants to New Urban Arts and the Housing Network of Rhode Island recognize the groups for their work in advancing economic opportunity in Rhode Island through arts education for […]
Teamsters at RISD authorize strike over wages, health care, retirement package
PROVIDENCE – The unionized custodians, groundskeepers and movers at the Rhode Island School of Design have authorized a strike, Teamsters Local 251 announced on Wednesday. The workers represented by Teamsters Local 251 authorized the strike by a 95% vote after the union said the school refused to meet a reasonable standard for wages, health care […]
Providence Family Dollar store building sells for $2.29M
PROVIDENCE – An 11,000-square-foot retail building in the West End of Providence recently sold for $2.29 million, according to a copy of the special warranty deed, a public record documenting the property sale. The building at 250 Cranston St., which continues to operate as a Family Dollar store, was bought by NS Retail Holdings LLC, […]
Ballard's Beach Resort to keep its licenses, banned from hosting music festivals
NEW SHOREHAM – The New Shoreham Town Council has imposed a series of restrictions on Ballard’s Beach Resort’s liquor and entertainment licenses, months after a rowdy weekend over the summer led to the temporary suspension of the resort’s licenses. The council and the resort reached the agreement on Wednesday, which allows Ballard’s to keep its […]
Coventry nursing home property sells for $7.23M
COVENTRY – The 190-bed Riverview Rehabilitation & Healthcare Center property at 546 Main St. in Coventry was sold recently to a New Jersey-based company for $7.23 million, according to a copy of the warranty deed, a public record documenting the property sale. This was the largest of four real estate transactions as a New Jersey […]
Watch Hill cottage constructed in 1900 sells for $3.97M
WESTERLY – A single-family home constructed in the Watch Hill neighborhood of Westerly recently sold for $3.97 million, according to public records documenting the deal. The 2,850-square-foot cottage-style home located at 10 Pawcatuck Ave. contains six bedrooms and four bathrooms, according to property records real estate listings. The single-family home on the quiet, dead-end road […]
State moves to establish homeless shelter at Cranston Street Armory
PROVIDENCE – In response to growing pressure on the state’s shelter and homeless support systems, the McKee administration announced Wednesday their intention to open a temporary 24-hour warming station at the historic Cranston Street Armory building on the city’s West Side. The state-owned property will be open around the clock for “individuals experiencing homelessness who […]
Five Questions With: Jennifer Hawkins
Jennifer Hawkins has been the executive director at One Neighborhood Builders since 2017, and she has been credited with helping to double the capacity of the organization, as it adds to a portfolio of 466 units of affordable homes in Greater Providence that it developed throughout its nearly 35-year history. Now, One Neighborhood Builders is […]
Providence Realty Investment gets refinancing for 9 affordable housing sites
PROVIDENCE – A total of 708 units of affordable housing spread across nine sites around Rhode Island were the subject of refinancing deals that were completed by real estate company Providence Realty Investment. The ownership group, advised by law firm Nixon Peabody LLP, completed the transactions in early November, totaling more than $104 million in […]
An inflation gauge tracked by the Fed slows to still-high 6%
WASHINGTON (AP) – A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of prices. Thursday’s report from the Commerce Department showed that prices rose 6% […]
U.S. job openings fell in October to still-high level
WASHINGTON (AP) – U.S. job openings dropped in October but remained high, a sign that businesses became slightly less needy for workers as the Federal Reserve ramps up interest rates in an effort to cool the economy. Employers posted 10.3 million job vacancies in October, down from 10.7 million in September, the Labor Department said […]
CVS installs time-delay safes at 66 R.I. pharmacy locations
WOONSOCKET – CVS Health Corp. has installed time-delay safes at 66 Rhode Island pharmacies in a multistate rollout to combat pharmacy robberies and the potential for associated diversion of controlled-substance medications. Eight hundred CVS Pharmacy locations in 13 states received the time-delay safe technology, the company announced on Wednesday. CVS locations in 45 states now […]