Updated June 28 at 6:28pm
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The Federal Reserve’s stress tests of big banks found all 33 have enough capital to withstand a severe economic shock, though Morgan Stanley trailed the rest of Wall Street in a key measure of leverage. more
Bank of America Corp. admitted to wrongdoing in settling a U.S. regulator’s allegations that it misused billions of dollars in customer funds to finance trades that benefited the firm. more
Purchases of new homes declined in May from an eight-year high as the housing market continued to display the choppy progress that’s been a hallmark of the recovery. more
The General Assembly last week passed legislation concerning energy policy that closely mirrors the excluded Article 18 of the fiscal 2017 budget, but it does not contain a controversial clause that would have given a financial break to a wind developer. more
Democrats closed out a marathon sit-in on the U.S. House floor Thursday afternoon after 25 hours of emotionally charged speeches demanding action on gun control, but they insisted their protests would continue in other forms. more
Cash purchases of homes in the Providence-Warwick-Fall River metropolitan area continued to fall in March, reaching 23.6 percent of all sales, a 9.2 percentage point decrease from a year earlier. more
The Port of Davisville will receive a $625,000 federal grant to expand capacity for imports and exports including automobiles, cargo and offshore wind components. more
Despite lagging growth, a new law awaiting gubernatorial approval would extend the state’s renewable energy target to 38.5 percent by 2035. more
U.S. stocks rose, mirroring equities around the world and sending the S&P 500 Index toward the strongest gain in a month, as a U.K. referendum on its European Union membership got underway. more
Fewer Americans than forecast filed for unemployment benefits last week, adding to evidence that the labor market is healthy and stable. more
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