Investing
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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
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
(Updated, 3:19 p.m.) Gov. Lincoln D. Chafee on Tuesday issued a statement defending the need for Rhode Island to repay the 38 Studios moral obligation bonds and criticizing gubernatorial candidates Cranston Mayor Allan W. Fung and Ken Block, who have voiced opposition to repayment. more
Fidelity Investments will lay off 460 employees in Kentucky and Texas over the next 12 to 18 months following the outsourcing of the company’s printing and mailing operations. more
With a relaxed, tech-sector optimism, Betaspring has come to embody the Providence startup scene at a time when Rhode Island is searching for an entrepreneurial antidote to the failure of 38 Studios LLC. more
Aspen Aerogels Inc., a nanotechnology firm that designs and manufactures energy-efficient insulation products, has reported a second-quarter net loss of $42.2 million, more than doubling the net loss of $19 million posted for the same period last year. more
The word “angel” as a business term started off on Broadway to describe wealthy people who provided backing for theatrical productions. Today’s business angels have coalesced into groups that turned their attention from the bright lights and the roar of the crowds to a playbill focused on diverse industry sectors. more
TAUNTON, Mass. – The South Eastern Economic Development (SEED) Corporation recently made a micro loan to Newport Potters Guild to enable the small business to start a pottery and clay art gallery and create four new jobs. more
Startups are a spark on Rhode Island’s business landscape, and angel capital is critical in getting these often innovative ventures launched. more
Fidelity Investments said Ronald P. O’Hanley, the firm’s head of asset management since 2010, will leave at the end of February, without giving a reason. more
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