By TOM MURPHY AP Health Writer Shares of Biogen and other drugmakers researching Alzheimer’s disease soared Wednesday after Japan’s Eisai Co. said its potential treatment appeared to slow the fatal disease in a late-stage study. The drugmaker said early results showed that its treatment, lecanemab, reduced patient clinical decline by 27% when compared to a […]
Business
A look at What’s Up in business in Newport, Rhode Island, and beyond.
Posted inBusiness
Panera Bread permanently closes Newport location
It appears that the Panera Bread in Long Wharf Mall has abruptly permanently closed. Customers were met with a closed cafe on Wednesday. The location is also marked as permanently closed on Facebook and Google. Howley Bread Group, a Panera Bread franchisee, says on their website that they have 28 cafés in Rhode Island, Massachusetts, […]
Posted inBusiness
Rite-Solutions receives $77 Million, five-year, cybersecurity contract from US NavyÂ
Middletown-based Rite-Solutions today announced that it has been awarded a $77 million, five-year contract by the Naval Surface Warfare Center Dahlgren Division (NSWCDD) under the Department of the Navy. The company will support the Strategic and Computing Systems Department, which provides systems engineering, software development, and support services for various commands. Specific to this Task […]
Posted inBusiness
Newport Chowder Company takes top prize in Samuel Adams Brewing the American Dream competition
Submitted by Andrea McHugh/Andrea McHugh Media Sept. 23, 2022 (Warren, R.I.) – Samuel Adams philanthropic program, Brewing The American Dream, brought together six Rhode Island-based food and beverage entrepreneurs at culinary business incubator Hope & Main in Warren in late August to vie for a $10,000 award in their annual pitch room competition. The competition […]
Posted inNews
COVID-19 changed how we eat out—here are the trends that are here to stay
Restaurants had to make major adjustments when dining rooms all over the world had to shut down due to COVID-19. Between delivery services and crafty outdoor seating arrangements, businesses got creative to keep customers interested in ordering—yet it still wasn’t enough to keep sales anywhere near pre-pandemic levels. The U.S. restaurant industry brought in about […]
Posted inBusiness
SEACORP awarded $79 million contract by the Office of Naval Research
Middletown-based SEACORP, LLC. (SEACORP) today announced that it has been awarded a $79 million, five-year contract by the Office of Naval Research (ONR). Under this contract, SEACORP will design, develop, and integrate the Electromagnetic Maneuver Warfare (EMW) Modular Suite (EMWMS) as a configurable, experimental, and operational unit. SEACORP, LLC. (PRNewsfoto/SEACORP) SEACORP is tasked with designing, developing, and […]
Posted inBusiness
People’s Credit Union continues its partnership with The Arbor Day Foundation by offering free trees for fall planting
As part of its year-long Centennial Celebration, People’s Credit Union is continuing its partnership with the Arbor Day Foundation to provide free trees to the community for the fall planting season. Through the Foundation’s Community Canopy Program, the free trees will be distributed right to residents’ doorsteps through November 27th as part of the Credit Union’s […]
Posted inBusiness
Newport International Boat Show reports attendance for the 2022 show was “exceptional”
The Newport International Boat Show announced today that attendance for the 2022 Show was exceptional, topping 2021. The four-day event, held along the downtown waterfront in Newport, Rhode Island, opened on Thursday, September 15 and continued through Sunday, September 18. This year’s event included a stunning array of boats in the water of every type […]
Posted inThings To Do
Castle Hill Inn will welcome the fall, winter season with festive happenings in November and December
This fall and winter, Castle Hill Inn is inviting guests to celebrate the change of seasons and get into the holiday spirit with a host of events and celebrations. As the holiday season approaches, the iconic Relais & Châteaux property will be aglow with elegant décor and bustling with holiday festivities during the months of November and […]
Posted inBusiness, Sports
Judge OKs Utah-based company’s $76M bid to buy Jay Peak
A federal judge has approved a Utah-based resort company’s $76 million bid to buy Jay Peak Resort, the Vermont ski area that was at the center of a financial scandal involving its former owner and president. Pacific Group Resorts, which owns five ski areas, last week won the auction to buy Jay Peak. A federal judge in […]
Posted inBusiness
Mokka Coffehouse, Boat Hauling Business, and other businesses for sale right now in Rhode Island
The latest listings on BizBuySell,  LoopNet, and realtor website show all kinds of businesses currently for sale in Rhode Island. Reasons for selling, when provided, typically do not mention economic hardship, but more often involve the owner retiring or not having time to actively run the business. The names and locations are generally left out, but there […]
Posted inNews
10 industries with the most job openings
The U.S. economy has had a strong recovery from the COVID-19 pandemic, according to the International Monetary Fund. The unemployment rate has returned to 2019 levels and wage increases for lower-income workers have reduced income gaps. Inflation, however, has posed a problem. The country’s gross domestic product, or GDP, did drop in the first half […]
Posted inBusiness
Counties with the highest unemployment rate in Rhode Island
Unemployment rates, while significantly lower than the alarming pandemic peak of 14.7% experienced in April 2020, remain a subject of concern, notably as economic experts bandy around the idea of a potential recession by 2023. The last economic recession—the Great Recession of 2008-2010—sent rates up to 10% as of October 2009. It was not until […]
Posted inBusiness
Newport International Boat Show announces ‘Newport For New Products’ award winners
The Newport International Boat Show announced today the results of this year’s Newport For New Productsâ„¢ (NFNP) Awards. Judged on Thursday during the Show’s opening day and announced at an awards ceremony on Friday, September 16, 2022, the winners are: Best New Navigation Product – Garmin InReach Mini2 Marine Bundle Best New Boating Operation,Maintenance or […]
Posted inNews
Countries Rhode Island exports the most goods to
American exports grew 18.7% in 2021 to $2.5 trillion after the coronavirus pandemic drove exports in 2020 to their lowest levels since 2010, according to Commerce Department data. The pandemic threw a monkey wrench into supply chains while flattening demand, all in the midst of significant tariffs imposed by the United States on China and […]
Posted inNews
Countries Massachusetts exports the most goods to
American exports grew 18.7% in 2021 to $2.5 trillion after the coronavirus pandemic drove exports in 2020 to their lowest levels since 2010, according to Commerce Department data. The pandemic threw a monkey wrench into supply chains while flattening demand, all in the midst of significant tariffs imposed by the United States on China and […]
Posted inBusiness
EXPLAINER: Rail strike would impact consumers, businesses
Commuters, food producers, refineries and others could all be affected if there is a nationwide rail strike at the end of this week. Members of one union rejected a tentative agreement that their leaders had negotiated with the biggest freight railroads, and three other unions were still at the bargaining table on Wednesday. Two other […]
Posted inBusiness
Bridge To Fitness will permanently close on September 30
Bridge To Fitness has announced that it will be permanently closing on September 30, 2022. The following letter was posted on the gyms Facebook Page on September 3; “To our amazing and loyal Bridge to Fitness Community,Bridge to Fitness is more than a gym, it’s a community. It’s a home. A sanctuary. We are so […]
Posted inBusiness
AMPed up: Providence arena announces new naming rights deal
PROVIDENCE, R.I. (AP) — Insurance company Amica has reached a 10-year deal for the naming rights to the downtown Providence arena that for two decades has been known as the Dunkin’ Donuts Center. The 14,000-seat facility will now be known as the Amica Mutual Pavilion, or the AMP Providence, the Lincoln-based insurer and the Rhode […]
Posted inBusiness
Mott & Chace Sotheby’s International Realty announces a top Warwick Neck sale
Warwick, RI (September 7, 2022) – Mott & Chace Sotheby’s International Realty is proud to announce the waterfront home at 152 Beacon Avenue has sold for $2,800,000. Leza Williamson, Sales Associate of Mott & Chace Sotheby’s International Realty, represented the seller. Pat Murphy of Residential Properties, Ltd. represented the buyer. According to data available from Rhode […]
Posted inBusiness
CVS to buy home health-care provider Signify for $8 billion
DALLAS (AP) — Drugstore operator CVS Health Corp. said Monday that it will buy home-health provider Signify Health for $8 billion. CVS said Signify has more than 10,000 employees including physicians and nurses, a presence in every state, and offers technology platforms. “This acquisition will enhance our connection to consumers in the home and enables […]
Posted inNews
With talk of a 2023 recession looming, what economic indicators have historically preceded every US downturn?
Written by: Elizabeth Jackson (Stacker) With talk of a 2023 recession looming, what economic indicators have historically preceded every US downturn? Economic and business news in the United States is currently full of fear over the possibility of a recession. Near-historic inflation has caused the prices of everything from groceries to fuel to soar and […]
Posted inBusiness
Now hiring: US offshore wind ramps up, workers taught safety
At a 131-year-old maritime academy along Buzzards Bay in Massachusetts, people who will build the nation’s first commercial-scale offshore wind farm are learning the skills to stay safe while working around turbines at sea. Some take to the tasks fairly easily since they’re veterans of marine fields or construction. For others, it’s totally new to […]
Posted inBusiness
Limo business, boat hauling company, and other businesses for sale right now in Rhode Island
The latest listings on BizBuySell and LoopNet show all kinds of businesses currently for sale in Rhode Island. Reasons for selling, when provided, typically do not mention economic hardship, but more often involve the owner retiring or not having time to actively run the business. The names and locations are generally left out, but there are occasional exceptions. Here […]
Posted inPeople & Profiles
Newport woman selected for statewide minority leadership program
Niko Merritt of Newport is one of just 31 people statewide selected to participate in the Rhode Island Foundation’s Equity Leadership Initiative. The goal is to help build a pipeline of leaders of color for positions of influence throughout the state. Merritt is the founder and Executive Director of Sankofa Community Connection. Besides having worked for […]