(Updated 10:35 a.m. and 11 a.m.)Brown University may have had the largest endowment out of colleges and universities in Rhode Island in fiscal 2014, but Salve Regina University had the largest percentage gain at 17.3 percent.
Standard & Poor’s agreed to be suspended from rating the biggest part of the commercial-mortgage bond market and pay almost $80 million to state and federal authorities over claims it bent criteria to win business.
In what its CEO calls a “pivotal year,” Citizens Financial Group Inc. Monday reported net income of $865 million in 2014, an improvement on a $3.4 billion loss in 2013, which was fueled by a $4.1 billion after-tax goodwill impairment charge. Citizens reported earnings of $1.55 per diluted share for the year.
Venture capitalists invested $124.1 million in Rhode Island companies in 2014, $42 million more than in 2013, and the largest amount to date, according to the MoneyTree Report by PricewaterhouseCoopers LLP and the National Venture Capital Association.
After startups from France’s Vente-Privee.com SA to the U.K.’s Hailo Network Ltd. retreated from the United States last year, European entrepreneurs are learning just how hard crossing the Atlantic can be.