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Bank of America Corp. must face a trial next month in a lawsuit alleging the bank’s Countrywide unit defrauded Fannie Mae and Freddie Mac by selling them billions of dollars in bad mortgages, a federal judge ruled. more
Rhode Island ranks among the top 25 state exporters in several industries, including 10th in scrap and recycled materials, according to the Business Roundtable. more
Housing, social service and defense industry leaders will join Rhode Island’s U.S. Senate delegation Wednesday for a roundtable discussion on the local impacts of federal spending cuts known as sequestration. more
Tiffany & Co., the world’s second-largest luxury jewelry retailer, reported second-quarter profit that topped analysts’ estimates as price increases and declining product costs helped counter tepid sales in the Americas. more
June saw a year-over-year decline in the foreclosure and 90-plus-day loan delinquency rates in the Providence-Fall River-New Bedford metro area, according to CoreLogic, the international property information service, although the declines were not as significant in the region as they were nationally. more
U.S. stocks fell, with the Standard & Poor’s 500 Index sliding for a second day, as growing tension over possible military action in Syria overshadowed a report showing consumer confidence unexpectedly rose in August. more
(Updated, 11:35 a.m.) The education of Latinos in Rhode Island reflects an achievement gap, compared with white students, that is among the 10 worst in the country, according to a new study by the Latino Policy Institute at Roger Williams University. more
First Marblehead Corp. has named Seth Gelber president of the firm, succeeding Daniel Meyers, who will continue as chairman of the board and CEO, according to the company. more
Washington Trust’s Commercial Real Estate Group has provided $4.3 million in financing to Metro 100 LLC for acquisition of a mixed-use property in Milford, Conn. more
President of Cross Insurance Inc. Rhode Island talks about the decision to open an office in the state. more
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