By Chris Reidy, Globe Staff

Office supply giant Staples Inc. said Wednesday that first-quarter net income fell 6 percent to $187 million. Total company sales for the first quarter of 2012 were $6.1 billion, a decrease of 1 percent in US dollars and flat on a local currency basis compared with the first quarter of 2011. Framingham-based Staples added that its outlook for 2012 is unchanged and “assumes continued slow growth in the US economy and a soft demand environment in Europe.”

By Robert Weisman, Globe Staff

After registering higher earnings in 2011, the state’s nonprofit health insurers posted falling operating income -- and in two cases, operating losses -- for the first quarter as they handled more medical claims. The early months of the year typically bring more claims. People delay elective procedures until after the holidays and insurance companies have to make payments for supplemental Medicare policies until members meet their deductibles and government funding kicks in. But another factor affected finances in the first quarter: pressure to hold down premiums.

By Hiawatha Bray, Globe Staff

Rhode Island economic development officials are scrambling to salvage their $75 million investment in Curt Schilling’s video game company 38 Studios LLC, calling an emergency meeting for Wednesday morning after reports that the company defaulted on a $1.12 million loan payment.

By Jenn Abelson, Globe Staff

Celebrity chef Todd English is being sued for more than $1 million in unpaid rent and other charges due from his recently shuttered Kingfish Hall restaurant at Faneuil Hall Marketplace.

English has failed to pay despite a judgment entered against him more than a year ago in Boston Municipal Court, according to a lawsuit filed in Suffolk Superior Court by the company that used to operate Faneuil Hall Marketplace.

By Chris Reidy, Globe Staff

Hyatt Place Boston/Braintree, a 204-room hotel located near South Shore Plaza, is celebrating its grand opening Tuesday. The Hyatt Place is replacing a 374-room Sheraton Hotel that had featured a castle-like design. The building has been entirely renovated; the update included the removal of the building’s castle-like features. Firms involved in the project include Hyatt Hotels Corp., the hotel management company Interstate Hotels & Resorts, and Carpenter & Co., a Cambridge-based real estate firm headed by Richard L. Friedman.

By Beth Healy, Globe Staff

The former chief executive of Presstek Inc. has agreed to pay $50,000 to settle civil charges brought by the Securities and Exchange Commission that he warned certain investors in 2006 about upcoming poor performance by the company, the regulatory agency said Tuesday. Edward J. Marino, 61, a Cambridge resident, was chief executive of Presstek, a Greenwich, Conn.-based maker of high-tech digital imaging equipment, from 2002 to 2007.

By Bloomberg News

A123 Systems Inc., a US maker of lithium-ion batteries for electric cars, rose the most in two weeks after hired an adviser to evaluate strategic alternatives for the company. A123, based in Waltham, climbed 12 percent to $1.02 at 12:54 p.m. in New York. Earlier, it gained 14 percent, the most intraday since May 1. The company reported a net loss of 87 cents a share, 50 cents greater than the average of 7 estimates compiled by Bloomberg.

By Chris Reidy, Globe Staff

Boston ad agency Arnold Worldwide is launching new ads for New Balance Athletic Shoe Inc., a Boston-based company known for its athletic footwear and apparel. The campaign focuses on the sensory connection between a runner’s body and the environment that the runner is in, Arnold said. The campaign is designed to motivate New Balance runners to a new level of “Excellent,” Arnold said.

By Chris Reidy, Globe Staff

Bristol-Myers Squibb Co., a New York-based drug company, said Tuesday that its biologics manufacturing facility in Devens has gotten regulatory approval for the commercial production of Orencia, a treatment for some adults with rheumatoid arthritis. The approval was given by the US Food and Drug Administration. The Devens facility employs roughly 300 people, including scientists, engineers, and bioprocess operators. According to Bristol-Myers Squibb’s website, Orencia reduces signs and symptoms in adults with moderate to severe rheumatoid arthritis.

By Chris Reidy, Globe Staff

TJX Cos., the Framingham company that operates such retail chains as T.J. Maxx, Marshalls, and HomeGoods, said Tuesday that first-quarter net income was $419 million and diluted earnings per share were $.55. For the quarter ending April 28, net sales increased 11 percent to $5.8 billion. In a statement, TJX chief executive Carol Meyrowitz said, “We are extremely pleased that our strong momentum continued in the first quarter.”

By Chris Reidy, Globe Staff

Call it a literary census of sorts. After compiling its sales data, Amazon.com has issued a list of the Most Well-Read Cities in America, and Cambridge ranks number two, based on its insatiable appetite for devouring books in the business and investing category. Alexandria, Va., topped the list. Folks there seem to be so fascinated with books about romance that this suburb of Washington, D.C., is America’s best-read community, according to Amazon.com. Hard to believe, but Boston did not make Amazon.com’s top 20.

By Associated Press

PROVIDENCE ---- Governor Lincoln Chafee says he and Rhode Island economic development officials have been meeting with the video game company owned by former Boston Red Sox pitcher Curt Schilling about its finances. 38 Studios moved here from Massachusetts in 2010 after Rhode Island offered a $75 million loan guarantee the state said would help bring hundreds of jobs and millions in tax revenue. Chafee tolds WJAR-TV on Monday “We’re always working to keep Rhode Island companies solvent, and that’s what we’re doing with 38 Studios.”

By Chris Reidy, Globe Staff

The video-game resumes of Bryn Bennett and Steven Kimura are studded with stints working on such games as Bioshock, Titan Quest, Guitar Hero 2, and the Rock Band oeuvre. Now their new company, Eerie Canal Entertainment, is gearing up to unveil a game called Dreadline. “Have you ever had the urge to control a team of monsters and lay waste to frail humans, but you were unclear of the moral implications?” the pair ask. “Well, Eerie Canal Entertainment has come up with a solution for you.”

By Chris Reidy, Globe Staff

Noble Investment Group, an Atlanta-based lodging and hospitality investment organization,

announced the acquisition of the Hilton Garden Inn Boston Waltham. The company’s press release did not include financial details of the transaction. The 148-room hotel will undergo a comprehensive renovation, the company added. Part of the hotel’s appeal is its proximity to major high-tech companies, including IBM, Raytheon, Thermo Fisher, and AstraZeneca, Noble Investment Group said.

By Bloomberg News

Kenneth Heebner, who ran one of the top-performing US mutual funds during the past decade, bought stakes in Whirlpool Corp. and Cummins Inc. during the first quarter while selling Priceline.com Inc. and Ford Motor Co. Capital Growth Management LP purchased 1.82 million shares of Whirlpool, the world’s largest appliance maker, during the three-month period that ended March 31, according to an SEC filing. The money manager bought 1.01 million shares of Cummins, a maker of diesel engines, after closing out its position in the fourth quarter.

By Associated Press

HARTFORD — Connecticut is using a new marketing strategy to boost tourism that draws attention to the state’s role in the Revolutionary War. Governor Dannel P. Malloy unveiled on Monday a ‘‘Still Revolutionary’’ Connecticut brand, part of a two-year, $27 million state marketing initiative. The ads will run on TV to take advantage of ‘‘sweeps week’’ when programs reach for top ratings and on radio, print, and digital platforms.

By Chris Reidy, Globe Staff

The average price for gas in Massachusetts was $3.719 a gallon in the latest weekly AAA survey, down 5 cents from the previous week’s average, AAA Southern New England said Monday. It was the fourth consecutive week of price drops. The price of a gallon of gas in Massachusetts has fallen 18 cents over the last month. The current national average for gas is $3.72 a gallon. A year ago at this time, the Massachusetts average price was $3.93 a gallon.

By Associated Press

Yahoo’s Scott Thompson, who was pressured to give up his CEO post because his official biography included a college degree he never received, reportedly has thyroid cancer. The Wall Street Journal, citing people it did not identify, says that Thompson told Yahoo’s board and several colleagues of his condition before resigning from his role with the company. The newspaper says it was told by one source that Thompson’s decision to resign was partly influenced by his cancer diagnosis.

By Chris Reidy, Globe Staff

Bradford Networks, a Cambridge network security firm, announced Monday the closing of a $3 million round of financing. Updata Partners led the round and was joined by Windspeed Ventures, Bradford Networks said. The investment will support Bradford’s expansion into the health care and government markets, the company said. To date, the company has raised $15 million. Bradford helps its corporate customers provide secure network access for the mobile devices they issue to their employees.

By Chris Reidy, Globe Staff

Comcast Corp. said its Xfinity TV customers can now access ESPN live streaming content via the WatchESPN app and on Comcast’s XfinityTV.com, something that could be of interest to sports fans as the National Basketball Association play-offs and the Major League baseball season heat up. Customers who receive ESPN’s networks as part of their Xfinity video subscription can now stream such events as well as associated coverage live from ESPN, ESPN2, ESPN3, and ESPNU from their iPads, iPhones, and iPod touch devices, as well as online.