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International purchases of U.S. stocks, bonds and other financial assets rose more than forecast in December as investors sought shelter from slowing global growth.
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By Meera Louis |
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Investors are the most optimistic on banks since the top of the bull market in 2007, bolstered by record-low interest rates and an improving outlook for global growth and profits, a Bank of America Corp. survey showed.
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By Sarah Jones |
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Bank of America Corp. shifted bonuses at U.S. Trust to focus employees on adding clients and boosting account balances, a change that could mean lower pay for some members of the wealth-management unit.
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By Hugh Son |
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(Updated, 12:20 p.m.)
Customers Bank has announced the acquisition of all local New England commercial banking business from Michigan-based Flagstar Bank, according to a Customers Bank press release.
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By Rhonda Miller |
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Royal Bank of Scotland Group Plc, Britain’s biggest publicly owned lender and the parent company of Citizens Bank, will pay about $612 million in fines for manipulating interest rates, the second- largest penalty imposed in a global regulatory probe.
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By Gavin Finch, Lindsay Fortado and Silla Brush |
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(Updated, 4:32 p.m.)
Rhode Island lost $229 million in tax revenue due to the use of offshore havens in 2012, according to a report released Tuesday by the R.I. Public Interest Research Group.
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By PBN Staff
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Sovereign Bank N.A. – a subsidiary of Banco Santander S.A. – saw its third consecutive year of profitability, with net income of $438.1 million in 2012, the bank announced Monday.
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By PBN Staff
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Three Federal Home Loan Banks and a fourth financial institutions filed court documents on Friday against Bank of America Corp.’s $8.5 billion agreement to settle claims related to mortgages issued by its Countrywide unit, The New York Times reported.
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By PBN Staff
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Independent Bank Corp., the parent of The Rockland Trust Co., reported fourth-quarter net income of $10 million, or 45 cents per diluted share, a 10.8 percent decline from the fourth quarter of 2011.
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By PBN Staff
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Accounts held in Rhode Island banks and credit unions offer some of the highest return rates in the nation, according to a newly released study from GoBankingRates.com.
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By Alex Kowalski |