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Bank of America Corp., the second-biggest U.S. lender, said fourth-quarter profit more than quadrupled as the company quelled claims tied to defective mortgages. The results beat Wall Street estimates, and the stock rose 2.6 percent in New York. more
Small businesses nationwide reported improved optimism as 2013 drew to a close, and reports of capital spending increased significantly, but the index measuring business owners’ sentiment in December still fell below previous mid-year readings and trailed the pre-2008 recession average by six points, the National Federation of Independent Businesses said Tuesday. more
Attorney General Peter F. Kilmartin announced Tuesday that Rhode Island has joined a multistate investigation into the Target Corp. data breach that occurred last month. more
Despite rising office vacancies in downtown Providence over the past year, CB Richard Ellis-New England executives described a healthy overall Rhode Island commercial real estate market in the firm’s annual market outlook Tuesday. more
The capital city of Rhode Island – also known as the Renaissance City or the Creative Capital – has recently appeared among the top ranked U.S. cities in a number of lifestyle-oriented studies. more
Alexion Pharmaceuticals Inc. has made a $25 million preferred equity investment in Moderna Therapeutics and will also provide $100 million up front as part of a long-term agreement to develop treatments for rare diseases with Moderna’s messenger RNA Therapeutics platform, the two companies announced Monday. more
Electric Boat President Jeffrey S. Geiger painted a glowingly positive picture of the future expansion and employment at the shipbuilder’s North Kingstown facility, with 650 new jobs in 2014 planned to be added to the current workforce of about 2,800. more
The Rhode Island district office of the U.S. Small Business Administration and the city of Providence renewed a partnership that encourages economic development by assisting businesses on issues such as strategic planning, accessing capital and securing government contracts. more
The U.S. Senate cleared for President Barack Obama’s signature a stopgap spending bill to keep federal government funding from lapsing tonight. more
In the face of declining enrollment, Rhode Island’s aging school buildings are costing the state a lot of money to maintain, and could cost even more to fix, state education officials told lawmakers Tuesday. more
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