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Rhode Island

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  • Penn National updates plans for Plainville slot parlor Thursday, 16 Apr 2015 | 1:31 PM ET

    BOSTON— Massachusetts is inching closer to the official launch of its casino industry, as Penn National Gaming submitted revised plans Thursday for a slot parlor slated to open in June along the Rhode Island border while regulators highlighted steps the state still needs to complete before it can oversee gambling operations. Plans for Plainridge Park still...

  • Rhode Island governor focused on economy in 1st 100 days Thursday, 16 Apr 2015 | 12:20 PM ET

    The Democratic governor signed an executive order to cut down on unnecessary regulations and attract businesses to Rhode Island. Rhode Island hasn't rebounded from the recession like other New England states have, and it has struggled for years with one of the highest unemployment rates in the U.S. "I think it's important now, given where Rhode Island is, that we...

  • Connecticut steps up fight against bootlegged cigarettes Thursday, 16 Apr 2015 | 10:07 AM ET

    HARTFORD, Conn.— Connecticut is stepping up the fight against the trafficking of bootlegged cigarettes from low-tax states into lucrative Northeast markets through New York and Boston ports and along Interstate 95. The state Department of Revenue Services has established a tobacco enforcement unit and is looking to work more closely with New York and other...

  • LeBoeuf would swing by the local H&R Block office, pay $150 and end up with a refund. The 32- year-old from Providence, Rhode Island paid $470 this year to a professional tax preparer, and her refund got eaten up by the taxes on her side gig income. "There are a lot of people out there who are starting to realize they don't have it all together," says Robert Wheeler, who runs...

  • PROVIDENCE, R.I.— State ethics rules don't prohibit a state representative from forming a law firm with two other attorneys who are registered legislative lobbyists, the Rhode Island Ethics Commission found on Tuesday. But Chairman Ross Cheit told McKiernan they couldn't advise him to recuse himself when his new partners lobby; the commission lost its...

  • PROVIDENCE, R.I.— A judge on Tuesday signed off on a receivership for the financially troubled Bannister House nursing home, moving forward on a plan to shut down the century-old nonprofit facility. Superior Court Judge Michael Silverstein appointed attorney Richard Land to act as receiver for the home in Providence, which has debts totaling more than $2...

  • CHICAGO, April 9- Illinois is the national poster child for state budget messes. Illinois exempts all retirement income from state taxes- Social Security, private and public pensions, and annuities. And we're hardly alone: 36 states that have an income tax allow some exemption for private or public pension benefits, and 32 exempt all Social Security benefits from...

  • Here's the best new reason to wash your car often Thursday, 9 Apr 2015 | 7:00 AM ET

    The message came Wednesday from the National Highway Traffic Safety Administration, which closed a five-year investigation into rusting pipes that carry brake fluid in about 5 million older Chevrolet, Cadillac and GMC pickups and SUVs, without seeking a recall. NHTSA's finding that the GM trucks weren't defective came even though it received 3,645...

  • Last defendant in pension lawsuit agrees to settle Wednesday, 8 Apr 2015 | 4:17 PM ET

    PROVIDENCE, R.I.— The final defendant in the legal fight over the state's 2011 landmark public pension system overhaul agreed Wednesday to settle. The board that oversees the Employees' Retirement System of Rhode Island, which provides retirement allowances for state employees, voted unanimously to approve a settlement proposal. Treasurer Seth Magaziner,...

  • Path to finalizing pension deal still faces hurdles Tuesday, 7 Apr 2015 | 2:45 PM ET

    PROVIDENCE, R.I.— Before a deal can be finalized to resolve years of legal wrangling over Rhode Island's landmark public pension system overhaul, a court, lawmakers and the plaintiffs must sign off on it. The Superior Court judge presiding over the case will determine whether the settlement proposal is fair, and whether the court should approve it.

  • Gina Raimondo said at the I-195 Redevelopment District Commission meeting, "and be more aggressive." Since then, the new owners of the Triple-A Pawtucket Red Sox have expressed an interest in building a new baseball park on the land along the Providence River, though commission spokeswoman Dyana Koelsch has said commission members have not received a proposal...

  • NEW YORK, April 2- A group of 14 state attorneys general on Thursday asked the U.S. Congress to investigate the herbal supplements industry after a New York probe of the products turned up ingredients that were not listed on labels and raised safety concerns. The group, led by New York Attorney General Eric Schneiderman and Illinois Attorney General Greg Zoeller,...

  • March 20- A federal judge rejected Bank of America Corp's request to dismiss a lawsuit in which Cook County, Illinois, accused the lender of targeting black and Hispanic borrowers in the Chicago area with subprime mortgages. District Judge Elaine Bucklo in Chicago said Cook County could pursue allegations that the bank steered minority borrowers into an...

  • In a state Supreme Court chamber packed with politicians, union leaders and other observers, Illinois is defending the constitutionality of the law aimed at curbing ballooning public pension costs. The stakes are especially high for Illinois. With a $105 billion unfunded pension liability, Illinois says it cannot afford core services such as healthcare and...

  • "Sharpening the definition of insider trading will clear up ambiguity in the law and help repair a broken system," Reed, a Rhode Island Democrat who like Menendez is a member of the Senate Banking Committee, said in a statement. If enacted, the legislation would broaden what constitutes insider trading following the December ruling by the 2nd U.S. Circuit Court of...

  • Private equity fund managers, gathering in Berlin on Monday for their largest annual conference, will weigh the potential threat of deep pocketed buyers from developing economies in Asia and the Middle East. This group, which includes China's property and entertainment giant Dalian Wanda Group Co and sovereign wealth funds from Singapore, Qatar, Kuwait and...

  • Private equity fund managers, gathering in Berlin on Monday for their largest annual conference, will weigh the potential threat of deep pocketed buyers from developing economies in Asia and the Middle East. This group, which includes China's property and entertainment giant Dalian Wanda Group Co and sovereign wealth funds from Singapore, Qatar, Kuwait and...

  • Allen Reichman, 55, pleaded guilty in Manhattan federal court to one count of conspiracy to commit wire fraud in a case that originated with a related investigation into a failed New York bank. In December one of his co-defendants, Kentucky businessman Wilbur Huff, pleaded guilty. The case grew out of a probe into Park Avenue Bank, which went under in March 2010.

  • LONDON, Feb 20- Royal Bank of Scotland is likely to write down the value of its U.S. bank Citizens by about 4 billion pounds next week, industry sources said, potentially wiping out much of the state-backed bank's annual profit. RBS, 80 percent owned by the UK government after being rescued in 2008, sold 29 percent of Citizens Financial Group in September and is...

  • NEW YORK, Feb 17- President Barack Obama's administration faces a difficult and possibly lengthy legal battle to overturn a Texas court ruling that blocked his landmark immigration overhaul, since the judge based his decision on an obscure and unsettled area of administrative law, lawyers said. The failure to do so, Hanen wrote, was a violation of the 1946...