Rhode Island

Rhode Island’s government has developed programs to revive its manufacturing industries with an eye toward improving the state’s economy.

Financial advisor Hilltop Securities Inc. – formerly First Southwest – has agreed to pay $16 million to settle the lawsuit Rhode Island Commerce Corp. brought in the wake of the failed 38 Studios deal.

Rhode Island Gov. Gina Raimondo proposed a $9.3 billion budget that calls for two years of free tuition at public colleges for in-state students.

The Rhode Island Commerce Corp. and Securities and Exchange Commission are close to reaching a final settlement over fraud charges the SEC brought in connection with a private placement involving the video game company 38 Studios.

Rhode Island’s retirement system joined an institutional investor group in a shareholder proposal demanding that Wells Fargo address its fake-accounts scandal, said Treasurer Seth Magaziner.

Providence, R.I., Mayor Jorge Elorza said his city's three-notch upgrade from Fitch Ratings, to A-minus from BBB-minus, reflects a move in the right direction.

Rhode Island's investment panel voted to terminate its investment in seven hedge funds, following Treasurer Seth Magaziner's initiative to minimize risk.

Rhode Island's pension system returned more than $45 million for September, state General Treasurer Seth Magaziner said.

Rhode Island is working on a debt affordability study that will include bonded debt as well as pension and OPEB liabilities, said Treasuer Seth Magaziner.

A judge has agreed to put Peter Cannava back into a Securities and Exchange Commission lawsuit that alleges the Wells Fargo banker aided and abetted the defrauding of investors in connection with a private placement by 38 Studios.