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Royal Bank of Scotland Group PLC named Rory Cullinan head of a new division that will house the firm’s bad bank and oversee the initial public offering of its U.S. Citizens Financial Group Inc. unit. more
The U.S. Senate cleared and sent to President Barack Obama the first bipartisan budget produced by a divided Congress in 27 years, resolving for now spending issues that had helped spur a government shutdown in October. more
U.S. stocks rose, sending benchmark indexes to all-time highs, after the Federal Reserve said it will reduce the pace of its monthly bond purchases and expressed confidence in the labor market recovery. more
The average weekly wage in Providence County rose to $908 in the second quarter of 2013, a 2 percent increase over the same period last year, the U.S. Bureau of Labor Statistics reported Wednesday. more
The Federal Reserve announced plans to cut its monthly bond purchases to $75 billion from $85 billion, taking its first step toward unwinding the unprecedented stimulus that Chairman Ben S. Bernanke put in place to help the economy recover from the worst recession since the 1930s. more
(Updated, 9:35 a.m.) General Treasurer Gina M. Raimondo will run for governor of Rhode Island as a Democrat, she announced Wednesday in a video posted on her website. Raimondo said in the announcement video that Rhode Islanders “deserved a state that didn’t continue to kick financial decisions down the road,” a reference to her work engineering a controversial overhaul of the state pension system in 2011. more
Following the lead of the federal Affordable Care Act exchange, HealthSource RI announced Tuesday it has extended the deadline for individual and small-employer plan selection and payment. more
General Dynamics Electric Boat has signed a new 25-year lease agreement with the Quonset Development Corporation to extend and expand its footprint at Quonset Business Park, Gov. Lincoln D. Chafee announced Wednesday. more
Daniele Inc.’s local gourmet and specialty meats have been selected as finalists in the 2014 National Good Food Awards following a blind taste test competition in San Francisco last month. more
CVS Caremark Corp., the largest provider of prescription drugs in the U.S., boosted its dividend by 22 percent and approved a share buyback for as much as $6 billion. more
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