Rhode Island

The $7.65 billion Employees' Retirement System of Rhode Island achieved positive gains for a fifth straight month in July with a 2.47% return and $150 million fund balance growth, State Treasurer Seth Magaziner announced Thursday.

Rhode Island ended fiscal 2016 with a $167 million surplus, or $44 million more than expected, said Gov. Gina Raimondo.

The Securities and Exchange Commission is asking a federal judge to allow it to submit an amended complaint that includes much more detailed charges against banker Peter Cannava in connection with an ill-fated private placement for startup video game company 38 Studios.

Fifty years ago, Rhode Island Health and Educational Building Corp. issued a $1.6 million bond for a now-defunct biblical school. Since then it has handled roughly $7.4 billion in debt.

Wells Fargo Securities and Barclays Capital have agreed to pay the Rhode Island Commerce Corp. $25.6 million in a proposed settlement of a lawsuit involving a loan to former videogame company 38 Studios, the state announced Tuesday.

The Rhode Island Infrastructure Bank is providing $17.2 million in financing to six communities, Gov. Gina Raimondo and General Treasurer Seth Magaziner announced.

A federal judge on Friday dismissed Securities and Exchange Commission charges against Peter Cannava, a banker involved in an ill-fated private placement for startup video game company 38 Studios.

Rhode Island state Rep. Robert Craven Sr., a former state assistant attorney general, is calling for the release of grand jury documents and testimony on the state’s 38 Studios investigation.

Rhode Island won’t file criminal charges related to 38 Studios, frustrating those who want to know more about the deal behind Curt Schilling’s video-game company.

The Rhode Island Health and Educational Building Corp. reported saving $13.4 million in its $86.4 million bond refunding for public schools.

Providence, R.I., Mayor Jorge Elorza wants to put a $40 million neighborhood infrastructure bond before city voters in November.

Rhode Island Treasurer Seth Magaziner chose Francis Quinn as the state's first debt manager, and Tim Nguyen as the state pension system's interim chief investment officer.

Rhode Island lawmakers passed an $8.9 billion fiscal 2017 state budget during a weekend all-nighter.

Fortune 500 behemoth General Electric plans to bring 100 tech jobs to Rhode Island, Gov. Gina Raimondo announced.

Patrick Marr will become chief of staff at Rhode Island Treasury, General Treasurer Seth Magaziner announced.

Vice President Joseph Biden visited Rhode Island to trumpet the state’s sweeping $500 million bridge-and-road improvement plan.

The rating outlook for BBB-rated Providence, R.I. was lowered to stable from positive by S&P Global Ratings.

Rhode Island General Treasurer Seth Magaziner nominated Sylvia Maxfield to serve on the State Investment Commission and Dr. Laura Shawhughes to serve on the State Retirement Board.

Central Falls, R.I.'s last proposed budget under a five-year bankruptcy plan shows a capital markets underpinning that includes a rainy-day fund.

The Securities and Exchange Commission is using Peter Cannava, a banker involved in an ill-fated private placement for a startup video game company, as a scapegoat and has no basis for charging him with defrauding investors, his lawyers claimed this week.