Providence, RI sues firms over stock trades
Providence, R.I. is suing dozens of Wall Street banks and other financial companies over high-frequency trading.
The suit says stock exchanges, investment banks and others defrauded investors by manipulating market data in favor of split-second stock-trading firms.
The suit's defendants include the Nasdaq Stock Market and the New York Stock Exchange; major banks such as JPMorgan Chase, Goldman Sachs and Citigroup; and trading firms including Chopper Trading and Jump Trading.
The lawsuit comes amid heightened government scrutiny into whether advantages in computer hardware and placement enable some to get millisecond timing advances on trades.
The federal complaint was filed Friday in New York on behalf of investors who traded stocks in the U.S. since April 18, 2009.
XGR-PROOF OF INSURANCE
Chafee signs digital proof of insurance bill
PROVIDENCE, R.I. (AP) - Gov. Lincoln Chafee has signed into law legislation allowing motorists in Rhode Island to use their smartphones to offer police proof they have auto insurance.
The bills sponsored by Sen. William Conley Jr. and Rep. Gregg Amore allow drivers to use their phones, tablets or other electronic devices to access their policies as proof of insurance during a traffic stop.
Conley calls digital proof of insurance a matter of convenience.
Under the legislation, police are prohibited from viewing any content on the device other than the insurance information.
Chafee signed the legislation on Friday. It takes effect immediately.
Rhode Island jobless rate remains highest in US
PROVIDENCE, R.I. (AP) - Rhode Island's unemployment rate remains the highest in the U.S. despite a decline in March.
The U.S. Bureau of Labor Statistics released the rates for all 50 states on Friday. Rhode Island topped the list with a rate of 8.7 percent, followed by Nevada with an 8.5 percent rate and Illinois with an 8.4 percent rate.
The Rhode Island Department of Labor and Training reported Thursday the jobless rate was down three-tenths of 1 point from February.
The state unemployment rate has been among the highest in the country for years, and Gov. Lincoln Chafee has called the recovery frustratingly slow.
The U.S. unemployment rate in March was 6.7 percent.
Second wave of milder flu hitting Northeast
NEW YORK (AP) - A second, milder wave of flu is hitting the Northeast.
Months ago, the flu season seemed to be winding down. But health officials on Friday reported widespread flu-like illnesses in six states. Rhode Island is the latest to join the list which includes Connecticut, Delaware, Maine, New Jersey and New York.
Officials from the Centers for Disease Control and Prevention say the flu season started in December and peaked by mid-January, and most of the illnesses were swine flu.
But, as happens some years, there's a second wave of a milder flu strain.
DUI-CHILD IN CAR
Man arrested for DUI with 7-year-old in vehicle
EAST PROVIDENCE, R.I. (AP) - A Massachusetts man police say was driving over 90 miles an hour with an unrestrained 7-year-old in his vehicle has been charged with driving under the influence and reckless driving.
State police said Friday troopers responded to a three-vehicle crash on Interstate-195 westbound on Thursday. They say 42-year-old Luis Manuel Medeiros of Fall River was seen driving erratically and lost control and hit a tractor-trailer in Seekonk. He kept driving and later hit another vehicle in East Providence, causing it to crash into a third vehicle.
Authorities said Medeiros appeared intoxicated and was arrested after failing field sobriety tests. The boy was taken to the hospital with minor injuries. The Massachusetts Department of Social Services took custody of him.
A phone number for Medeiros couldn't be found.
Former Maine tribal official caught in elver case
PORTLAND, Maine (AP) - New York authorities have arrested a former Passamaquoddy tribal representative to Maine's Legislature and seven other people on charges of illegally harvesting baby eels on Long Island's East End.
Frederick J. Moore III, of Perry, and others surrendered April 8. Authorities charged them with lacking a foodfish permit and over the limit possession of American eels and undersized eels, all felonies.
Moore told The Associated Press he was helping a local Native American tribe establish an eel restoration program.
Also arrested were Wallace Wilson of Mastic, N.Y., Michael Cardoze of Brooklyn, N.Y., Gordell Wright of Southampton, N.Y., Daniel Patrick White of Akwesane, N.Y., Kyle Lewey and Frederick J. Moore IV of Perry, and Ginew Benton of Hope Valley, R.I. They are due in court June 25 in Central, Islip, N.Y.
Bryant U. cracks down on selfies at graduation
BOSTON (AP) - Rhode Island's Bryant University is asking students to resist the urge to take selfies with its president while receiving their diplomas.
University President Ronald Machtley (MAYK'-lee) says students ask him to take selfies on the Smithfield campus all the time.
But he says having more than 800 students snap photos with him as they get their degrees will slow down the already hours-long ceremony. He says he'd be happy to take some photos afterward.
Students will be able to take photos until the start of the May 17 graduation and post them to a new website hosted by the university.
Senior and Worcester (WUS'-tur), Massachusetts, native Ali Luthman says some students might be upset about the no selfies rule but "no one is crying about it."
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