Financial Services
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Long-term health care costs in Rhode Island have risen more rapidly over the past five years than in the United States as a whole and can cost as much as 40 percent more each year than the national average, according to the Genworth 2014 Cost of Care Survey released Monday. more
Fitch Ratings has assigned a AA rating to Rhode Island’s $79.5 million in 2014 consolidated capital-development general-obligation bonds, the agency announced Wednesday. more
Bank of America Corp., the second-biggest U.S. lender, swung to a surprise loss as the company booked $6 billion of costs tied to mortgage disputes. more
Bank of America Corp.’s Countrywide unit and insurer Allstate Corp. settled a 2010 lawsuit over $700 million in devalued mortgage-backed securities. Terms of the accord weren’t revealed. more
Bank of America Corp. and the New York Stock Exchange were among dozens of exchanges, brokerages and traders sued over high-frequency trading by the city of Providence over claims they rigged securities markets to divert billions of dollars from buyers and sellers of shares. more
Paul Volcker hasn’t endeared himself to Wall Street bond dealers. That’s just fine with Fidelity Investments. more
Royal Bank of Scotland Group PLC, Britain’s biggest government-owned lender, reached an agreement to end the U.K. Treasury’s dividend access share, bringing the company a step closer to paying dividends. more
Washington Trust Bancorp, parent of The Washington Trust Co., posted earnings of $9.3 million for the first quarter of 2014, an increase of 25.3 percent over earnings of $7.4 million in the first quarter of 2013. more
Startups are a spark on Rhode Island’s business landscape, and angel capital is critical in getting these often innovative ventures launched. more
Jim Sampson, managing principal of Cornerstone Retirement Advisors, has been named one off Planadviser’s 2014 Top 100 Retirement Advisors, the Warwick-based benefit advisory firm announced April 2. This is the third year in a row Sampson has been named to the list. more
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