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Bank of America Corp., the second-biggest U.S. lender, said fourth-quarter profit more than quadrupled as the company quelled claims tied to defective mortgages. The results beat Wall Street estimates, and the stock rose 2.6 percent in New York. more
Alexion Pharmaceuticals Inc. has made a $25 million preferred equity investment in Moderna Therapeutics and will also provide $100 million up front as part of a long-term agreement to develop treatments for rare diseases with Moderna’s messenger RNA Therapeutics platform, the two companies announced Monday. more
Electric Boat President Jeffrey S. Geiger painted a glowingly positive picture of the future expansion and employment at the shipbuilder’s North Kingstown facility, with 650 new jobs in 2014 planned to be added to the current workforce of about 2,800. more
The capital city of Rhode Island – also known as the Renaissance City or the Creative Capital – has recently appeared among the top ranked U.S. cities in a number of lifestyle-oriented studies. more
Attorney General Peter F. Kilmartin announced Tuesday that Rhode Island has joined a multistate investigation into the Target Corp. data breach that occurred last month. more
Despite rising office vacancies in downtown Providence over the past year, CB Richard Ellis-New England executives described a healthy overall Rhode Island commercial real estate market in the firm’s annual market outlook Tuesday. more
Small businesses nationwide reported improved optimism as 2013 drew to a close, and reports of capital spending increased significantly, but the index measuring business owners’ sentiment in December still fell below previous mid-year readings and trailed the pre-2008 recession average by six points, the National Federation of Independent Businesses said Tuesday. more
The U.S. government said it would ramp up Obamacare outreach in 25 cities to lure younger people to the program after a report showed about 70 percent of the initial customers are 35 years of age or older. more
Macy’s Inc., the second-largest U.S. department-store company, forecast profit for its next fiscal year ahead of analysts’ estimates and disclosed a program to cut costs that includes eliminating about 2,500 jobs. more
Environmental and regulatory leaders in Rhode Island said the state needs to step up its awareness of climate change and sea level rise, develop plans to deal with them, and then begin implementing them. more
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