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Top News & Analysis Rhode Island

  • WASHINGTON-- The Department of Justice said Monday that a unit of CVS Caremark Corp. has agreed to pay $5.25 million to settle allegations that it reported false information on prescription drug prices to the government's Medicare program.

  • PROVIDENCE, R.I.-- Police in Rhode Island say they've made arrests in a half million dollar theft of air conditioning units from a Wal-Mart store. Woonsocket police said Monday that Larry Bates Sr. and Jesse Marinaro of Johnston and Matthew Bruckschen of Woonsocket are charged with conspiracy and larceny in connection with the April theft.

  • The company is selling off all its assets in separate auctions planned for Tuesday in Maryland and next week at the company's downtown Providence, R.I., headquarters, where Schilling's team was working on the "massively multiplayer online game" that was critical for 38 Studios' success.

  • BOSTON-- College savings plans offered through the states of Alaska, Maryland, Nevada and Utah earned top marks from Morningstar Inc. in the company's annual update to ratings of so-called 529 plans.

  • PROVIDENCE, R.I.-- A Rhode Island economist says he sees some "real strength" and possible momentum in the state's economy. University of Rhode Island Professor Leonard Lardaro said in his "Current Conditions Index" report for August that the state economy seems to be gaining momentum, along with the U.S. economy.

  • PROVIDENCE, R.I.-- Gasoline prices in Rhode Island have dropped by two cents in the past week. Costs for fuel in Rhode Island have dropped four cents in the past month. A year ago, gas cost $3.55 a gallon in Rhode Island.

  • PROVIDENCE, R.I.-- A tax amnesty program in Rhode Island has generated more than $4.1 million in payments from people behind on their taxes. The state Division of Taxation said Monday that it has received 1,933 applications since the amnesty period began Sept. 2.

  • PROVIDENCE, R.I.-- A nonprofit that promotes urban ecology in part through environmental job training has transformed a contaminated lot in Providence into a nursery with 300 trees. Groundwork Providence on Friday morning marked the opening of the Hope Tree Nursery in the city's Elmwood section.

  • PROVIDENCE, R.I.-- Rhode Island officials say a recent sale of state general obligation bonds shows investor confidence in the state. Lincoln Chafee announced Thursday the state sold $81.4 million in bonds at an interest rate below 3 percent. The bond sale comes after the state saved $7 million in April by selling bonds to refinance $122.9 million in debt.

  • Yongda Huang Harris, 28, was taken into custody at Los Angeles International Airport last week during a stopover on a trip from Japan, when U.S. Customs and Border Protection officers noticed he was wearing the bulletproof vest under his trench coat, along with flame-retardant pants and knee pads.

  • WASHINGTON-- A Federal Reserve survey released Wednesday found that the economy grew modestly in the late summer, bolstered by solid gains in housing. The report is based on anecdotal information from the regional districts and covers the period from mid-August to Sept. 28. The region's economy expanded modestly.

  • By Soyoung Kim and Nadia Damouni and Greg Roumeliotis NEW YORK, Oct 10- McGraw-Hill Companies Inc's. McGraw-Hill, which is running the auction as an alternative to its planned spin-off of the business, wants to get more than $3 billion and could still decide against a sale if the bids fail to meet its price expectations, the people said this week.

  • NEW YORK, Oct 10- McGraw-Hill Companies Inc's. McGraw-Hill, which is running the auction as an alternative to its planned spin-off of the business, wants to get more than $3 billion and could still decide against a sale if the bids fail to meet its price expectations, the people said. McGraw-Hill, Cengage, Apollo, THL and Providence declined to comment.

  • Oct 10- Former General Motors Co Vice Chairman Robert Lutz has joined the board of a steel materials design company in which the U.S. automaker has invested, NanoSteel Co Inc said on Wednesday.

  • NEW YORK Oct. 10, 2012-- Standard& Poor's Ratings Services today lowered its ratings on three classes of commercial mortgage pass-through certificates from GMAC Commercial Mortgage Securities Inc.' s series 2001- C1 due to current and potential interest shortfalls.

  • *BC Partners, EQT, Providence, Discovery showed interest* Price tag seen at up to 1.4 bln euros* Final bids due later this months By Sven Nordenstam and Arno Schuetze STOCKHOLM/ FRANKFURT, Oct 10- ProSiebenSat1.

  • PROVIDENCE, R.I.-- The Rhode Island Lottery contributed more than $377 million to the state in the fiscal year that ended June 30. The amount is $22.8 million more than the previous year. The lottery's operating expenses for the last fiscal year were $6.2 million.

  • *BC Partners, EQT, Providence, Discovery showed interest. STOCKHOLM/ FRANKFURT, Oct 10- ProSiebenSat1. Private equity firms BC Partners, EQT, Providence Equity Partners and network Discovery Communications have shown interest for the assets, according to two people, who declined to be identified as they are not authorised to speak to media.

  • *Liberum capital raises Providence resources price target to 2200 P. from 1980 P; rating buy. Reuters Station users, click. 1580.

  • Oct 10- Former General Motors Co Vice Chairman Robert Lutz has joined the board of a steel materials design company in which the U.S. automaker has invested, NanoSteel Co Inc said on Wednesday. Prior to GM, Lutz was president of Chrysler Corp, which is now controlled by Fiat, and he held executive positions with Ford Motor Co and BMW.