The town of Narragansett is in the process of revising its building ordinances to clamp down on the recent expansion of Airbnb-style short-term rentals within its residential neighborhoods.
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Ambitious Development Proposal Faces Pushback in North Kingstown
Some residents in the towns of North Kingstown and Exeter are trying to halt construction of an expansive housing and commercial development project they say will negatively impact the rural character of their area of South County.
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Boeing finds a new issue with Max, debris in fuel tanks
Boeing has a new problem with the grounded 737 Max. The company has found debris inside the fuel tanks of some of the planes. Boeing said Tuesday the problem was discovered during maintenance work on planes that have been built but haven’t been delivered to airlines because the Max is still grounded after two deadly crashes. Boeing is testing changes in flight-control software after two crashes killed 346 people in Indonesia and Ethiopia. Boeing says the fuel-tank issue won’t change the company’s expectation that regulators will certify the plane to fly again sometime in mid-2020.
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Yum Brands ends 2019 strong, but China virus could cut sales
KFC owner Yum Brands ended 2019 with better-than-expected sales, but the impact of the new virus in China could weigh heavily on its first quarter results. Yum said Thursday that fourth quarter revenue rose 9% to $1.7 billion. That beat Wall Street’s forecast of $1.65 billion, according to analysts polled by FactSet. Adjusted for one-time items, Yum earned $1 per share, which fell short of Wall Street’s forecast for $1.13.
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California OKs highly questioned LA County voting system
California’s secretary of state has approved Los Angeles County’s unique new publicly owned computerized voting system. But Alex Padilla is also requiring modifications for the system, which is the first-of-its-kind in the nation. The modifications ordered to the Los Angeles County system address serious security and technical issues identified in testing. They include potential tampering via access to a USB port, paper jams and the touchscreen user interface. Another major complaint has been the system’s usability. For many races with multiple candidates, not all fit on a single screen and a “more” button has to be pressed for additional choices.
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Twin River Announces Plan To Move HQ To Wexford Complex
Twin River Worldwide Holdings plans to make its Providence headquarters in the Wexford Innovation Complex in the I-195 District, the company said Monday. Twin River has signed a letter of intent to occupy 12,000 square feet on the sixth floor of the Wexford building. If everything goes according to plan, the company said it will […]
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Chipotle Agrees To $1.3 Million Penalty For Violating Mass. Child Labor Laws
Chipotle Mexican Grill on Monday agreed to pay $1.37 million in restitution and penalties for violating child labor laws in Massachusetts, in the largest child labor investigation in the history of the state attorney general’s office.
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Prosecutor: Former top stockbroker ‘built business on lies’
A former financial planner who was kicked out of the securities industry and ordered to pay millions of dollars in damages to customers he allegedly tricked into high-risk investments is on trial in Pennsylvania. Some clients say they lost their life savings because of Anthony Diaz. The ex-broker has pleaded not guilty to criminal fraud charges. His federal trial began Monday in Scranton. A prosecutor accused Diaz of using lies and deceit to get customers to invest in financial products that weren’t meant for them. His lawyer says Diaz was trying to help his clients diversify after the last financial crisis.
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Woodward, Hexcel attempt to become a force in aerospace
Woodward and Hexcel are merging in an all-stock deal that would create one of the largest suppliers in the aerospace and defense industry. The companies say the tie-up will allow them to create more efficient aircraft that will reduce emissions, a big hurdle for the aerospace industry. The new company, called Woodward Hexcel, will generate more than $5 billion in annual sales with a market capitalization nearing $14 billion and more than 16,000 employees. Woodward Hexcel will have manufacturing operations in 14 countries on five continents. The deal is expected to close in the third quarter.
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CT-Based Insurer Says It Will Stop Covering Some Fossil Fuel Businesses
A major U.S. insurer headquartered in Connecticut said it will cut ties with certain fossil fuel companies. The Hartford said in December that it will no longer invest in or provide insurance coverage to companies that generate more than a quarter of their revenues from coal mining or the extraction of oil from tar sands. […]