Financial Services
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The first quarter of 2012 was a record-breaking one for the financial markets. The S&P 500 gained more in one quarter than it has since 1998 and the NASDAQ had the best quarter in its history, though still below its all-time high of 5,000. more
William Galvin, secretary of the Commonwealth of Massachusetts, has sent subpoenas to seven big banks and investment firms for “targeting the elderly pitching high-risk investments,” reported the Boston Business Journal. more
The Matchmaker Fair scheduled for Oct. 4 in Warwick could also be called “speed dating for small business,” said Mark S. Hayward, Rhode Island district director for the U.S. Small Business Administration. more
Brown University reported a 12.6 percent return on its investments for fiscal year 2013, up from a 1 percent return a year earlier, the university announced Tuesday. more
Commercial banking market manager for Santander talks about the Rhode Island market. more
RBS Citizens Financial Group Inc., the parent company of Citizens Bank, has launched “Bank Better” with its signature element being that no overdraft fees will be charged for transactions of $5 or less. more
Imagine a company that allows its employees to take nothing in salary this year in exchange for promissory notes to pay them twice as much in 10 years. Although there would be no immediate cash outlay, the company would still be required to accrue expenses reflecting the promises. more
Bank of America Corp.’s $8.5 billion settlement with mortgage-bond investors will be delayed almost two weeks after American International Group Inc. and other objectors asked a judge for a hearing to address loan modifications excluded from the accord. more
The shareholder in Adler Pollock & Sheehan P.C. talks about whether advances in information technology is making fraud easier to accomplish, among other things. more
Long-term health care costs in Rhode Island have risen more rapidly over the past five years than in the United States as a whole and can cost as much as 40 percent more each year than the national average, according to the Genworth 2014 Cost of Care Survey released Monday. more
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