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Bank of America Corp., the second-largest U.S. lender, is cutting about 1,300 more jobs in its mortgage division as the firm adjusts to lower demand, said two people with direct knowledge of the plans. more
Customers Bancorp Inc., parent company of Customers Bank, reported third-quarter earnings of $8.3 million, or 33 cents per diluted share, an increase of 24.6 percent over the $6.6 million, or 51 cents per diluted share, reported for the same quarter in 2012. more
Raytheon Co., the world’s largest missile maker, said third-quarter profit fell 2.8 percent in a time of Pentagon spending cuts, while the company raised its full-year forecast for earnings and sales. more
U.S. Bancorp and Fifth Third Bancorp are among five potential bidders for Chicago branches being sold by Citizens Financial Group Inc., people with knowledge of the matter said. more
The University of Rhode Island generated $726 million in statewide economic activity, supported an estimated 8,200 jobs and provided approximately $392 million in wages in fiscal 2012, according to a report released Wednesday by the URI Foundation. more
The University of Massachusetts Dartmouth School of Law earned a place among the top five law schools in the region for black students in the Lawyers of Color Black Student’s Guide to Law Schools 2014. more
The U.S. Securities and Exchange Commission voted unanimously to seek comment on a proposal to allow businesses to sell ownership stakes in their companies by soliciting investors over the Internet. more
The Rhode Island division of the Occupational Safety & Health Administration has proposed fining the Renaissance Providence Hotel $8,000 for alleged exposure to corrosive chemicals and other issues, allegations the hotel disputes. more
U.S. house prices rose 0.3 percent in August from July, the smallest gain in 11 months, as more homeowners listed their properties, according to the Federal Housing Finance Agency. more
The CollegeBoundfund, Rhode Island’s college savings plan managed by New York-based AllianceBernstein, has received a negative rating from Morningstar analysts for the fourth consecutive year, the Chicago-based investment-research firm announced Tuesday. more
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