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Top News & Analysis Rhode Island

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  • Yellen: Inflation will rise 2% as econ strengthens

    Federal Reserve Chair Janet Yellen speaks at Greater Providence Chamber of Commerce, on the state of consumer price inflation.

  • Yellen: Labor market approaching full strength Friday, 22 May 2015 | 1:08 PM ET
    Yellen: Labor market approaching full strength

    Federal Reserve Chair Janet Yellen speaks at Greater Providence Chamber of Commerce, on unemployment data.

  • WASHINGTON/ PROVIDENCE, May 22- Federal Reserve Chair Janet Yellen on Friday said she expected the central bank to raise rates this year as the U.S. economy was on course to bounce back from a sluggish first quarter and as headwinds at home and abroad begin to wane. Yellen, in prepared remarks for a speech in Rhode Island, said she expected economic data to strengthen,...

  • NEW YORK, May 22- The U.S. Fed Chair Janet Yellen, who on Friday will talk about the economy's prospects, is expected to acknowledge the recent sluggishness, including near stagnant performance in the first few months of the year. Though the Fed uses another measure for its 2 percent target, the CPI report on Friday showed prices increasing across a broad set of items,...

  • NEW YORK, May 21- The U.S. Fed Chair Janet Yellen, who on Friday will talk about the economy's prospects, is expected to acknowledge the recent sluggishness, including near stagnant performance in the first few months of the year. "I wouldn't be totally shocked if the Fed 25 basis points either in September or December, and then just held there for a while to see what...

  • Thanks to Yellen, market could be busy Friday Thursday, 21 May 2015 | 5:29 PM ET
    Federal Reserve Board Chair Janet Yellen.

    A speech by Fed Chair Janet Yellen and CPI data guarantee that more traders will be working than otherwise might be ahead of the long weekend.

  • DIARY- Top Economic Events to June 3 Wednesday, 20 May 2015 | 8:01 PM ET

    SINTRA, Portugal- European Central Bank forum on central banking. Speakers:- ECB President Mario Draghi and board member Peter Praet, IMF Economic Counsellor Olivier Blanchard, BoE Governor Mark Carney, Central Bank of Mexico Governor Agustin Carstens, Central Bank of Ireland Governor Patrick Honohan, Organisation for Economic Co-operation and Development...

  • DIARY- Top Economic Events to June 1 Tuesday, 19 May 2015 | 8:01 PM ET

    LONDON- Bank of England releases updated policy statement on dormant bank accounts- 0900 GMT. MUNICH- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the National Association for Business Economics International Symposium: "Economic Growth, Monetary Policy, and Structural Reform:...

  • BOSTON, May 6- Puerto Rico's troubled electric utility on Wednesday asked a U.S. appeals court for an alternative to restructure some $9 billion in debt, saying it would otherwise be at the mercy of U.S. bond funds. The legal battle moved on Wednesday to Boston where lawyers for both sides argued for more than an hour before the U.S. Court of Appeals for the First...

  • District Judge Katherine Forrest in Manhattan said the claims raised against Nasdaq, Intercontinental Exchange Inc's New York Stock Exchange, BATS Exchange and other exchanges must be reviewed first by the U.S. Securities and Exchange Commission, not the courts. Forrest, however, said Congress created a "comprehensive federal regulatory scheme" empowering...

  • April 28- Textron Inc, maker of Beechcraft and Cessna airplanes and Bell helicopters, reported lower-than-expected quarterly revenue and profit as helicopter division sales declined. Revenue in Textron's Bell division, which accounted for 31 percent of total revenue in 2014, dropped 13.2 percent to $315 million in the first quarter ended April 4.

  • WILMINGTON, Delaware, April 28- Brazilian oil company Petrobras' $17 billion write-down, announced last week, may have been meant to close the accounting on a sprawling corruption scandal, but could instead provide fresh ammunition for a U.S. class action lawsuit. The case, filed in Manhattan federal court in December by a group of large investors, alleges $98...

  • 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...

  • 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...

  • 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...