Updated May 2 at 11:26pm
Financial Services
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The city will no longer invest pension funds in the top 15 carbon-emitting coal companies in the country, Mayor Jorge O. Elorza said. more
R.I. General Treasurer Seth Magaziner said that the recent restructuring of a $175 million general obligation bond will fund economic-development and school-construction initiatives included in the budget. more
Brookline Bancorp Inc. on Wednesday announced net income of $12.6 million in the second quarter, representing an 18.4 percent year-over-year increase. Earnings per share increased to 17 cents per diluted share from 14 cents per diluted share a year earlier. more
Bank of America Corp. CEO Brian T. Moynihan named the fourth finance chief of his tenure in a broad shakeup as he seeks to overcome regulatory hurdles and reverse shrinking revenue. more
Washington Trust Bancorp Inc., parent of The Washington Trust Co., plans to open two branches, one on the East Side of Providence later this year and another in Coventry next year, Chairman and CEO Joseph J. MarcAurele said this week. more
Citizens Financial Group Inc. fell the most since last year’s initial public offering after the lender lowered profitability forecasts and Royal Bank of Scotland Group Plc announced it was reducing its stake in the company. more
Citizens Financial Group Inc. reported a 39.3 percent drop in net income and 15.7 percent decline in total interest and non-interest revenue in its second-quarter earnings report released Tuesday. more
Mass. Secretary of State William Galvin launched an investigation into the sale of dozens of mutual funds this week, saying the products – often referred to as “hedge funds for the masses” – pose risks that the average investor may not grasp. more
A father-and-daughter wealth management duo last week announced the recent acquisition of Auclair & Auclair LLP. more
JPMorgan Chase & Co. still has a shortfall of as much as $12.5 billion in meeting capital rules approved by the Federal Reserve on Monday. more
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