The Ticker

Expansion at Patriot Place

The Kraft Group has secured approval for an expansion at Patriot Place that would add a 122-room hotel, quick-service restaurant and CVS to the Foxboro shopping center next to Gillette Stadium. There's no word on a construction timeline or cost of the project endorsed by the Foxboro Planning Board last week.

The development will replace 600 parking spaces between the North and South Markets of Patriot Place, which opened in 2007 and features 1.3 million-plus square feet of stores, restaurants and entertainment venues.

Unemployment rate up in region

The unemployment rate in New England ticked up in May but remains considerably lower than the national rate. The New England Information Office of the U.S. Bureau of Labor Statistics said yesterday the rate for the six-state region was 6.9 percent, up from 6.8 percent in April. A year ago, the rate in New England was 7.3 percent. The national unemployment rate for May was 7.6 percent.

Rhode Island and Connecticut had the highest jobless rates in the region in May, 8.9 percent and 8 percent, respectively. Maine's rate was 6.8 percent, Massachusetts' was 6.6 percent, New Hampshire's was 5.3 percent and Vermont's was 4.1 percent.

Oil prices highest in 14 months

The price of oil rose to its highest level in 14 months yesterday on concerns about possible disruptions to Middle East supplies and signs of an increase in U.S. demand for fuel. U.S. benchmark oil gained $1.64 to $101.24, its highest close since May 3, 2012. Brent crude, which is used to price oil used by many U.S. refineries to make gasoline, rose $1.76 to finish at $105.76.

TODAY

• U.S. stock and bond market is closed for Independence Day.
• European Central Bank's governing council meets to set monetary policy for the eurozone.

TOMORROW

• Labor Department releases June employment data for June.

THE SHUFFLE

• Cherrytree Group, a diversified real estate services company headquartered in Newton, has named Melina Ambrosino, left, as operations manager/tax credit professional. In this dual role, Ambrosino oversees operations of the company, working with all aspects of the various tax credit incentive programs in Massachusetts. Her primary focus since joining the Cherrytree Group has been on the Massachusetts Brownfields Tax Credit program.

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