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Thursday, October 18, 2018
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Webster reports 54% jump in Q3 profit

PROVIDENCE – Webster Financial Corp., the holding company for Webster Bank, on Thursday reported a 54 percent increase year over year in quarterly earnings,...
IN ITS FIFTH CONSECUTIVE MONTH OF DECLINE, the Rhode Island seasonally adjusted unemployment rate fell 0.1 percentage points to 3.9 percent in September per the R.I. Dept. of Labor and Training. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

Slow, steady decline in unemployment stretches into September

PROVIDENCE – Continuing its slow and steady decline, the Rhode Island seasonally adjusted unemployment rate fell 0.1 percentage points to 3.9 percent in September,...

Citizens Bank could withstand deep recession, stress test shows

PROVIDENCE – A deep, prolonged recession would cost Providence-based Citizens Bank billions of dollars, but the bank would be able to withstand it, according...

Five Questions With: Sandra Glaser Parrillo

For the past 18 years, Sandra Glaser Parrillo has led the Providence Mutual Fire Insurance Co. in Warwick. The company provides personal and commercial...

FDIC: Retail bank deposits up 5.6% in Bristol County, Mass.,...

PROVIDENCE – Retail banking deposits in Bristol County, Mass., grew by 5.6 percent during fiscal year 2018, ended June 30, new federal banking statistics...

Consumer Watchdog blasts insurance industry over fossil fuel investments

PROVIDENCE – While many in the insurance industry lament the impacts of global warming, the nation’s top insurance companies remain heavily invested in the...

FDIC launches ‘transparency’ section on its public website

PROVIDENCE – Under the so-called “Trust through Transparency” initiative, the Federal Deposit Insurance Corp. has launched a new section on its public website that...
FIDELITY INVESTMENTS has launched a new business to manage digital assets for hedge funds, family offices and trading firms. / BLOOMBERG NEWS FILE PHOTO/JB REED

Fidelity starts crypto business to serve Wall Street clients

NEW YORK - Fidelity Investments is jumping into the emerging cryptocurrency arena with a new business to manage digital assets for hedge funds, family offices...
THE CURRENT CONDITIONS INDEX for Rhode Island in July was 67, the lowest recorded value for the year so far, following revisions to July CCI measurements. / COURTESY LEONARD LARDARO

August CCI reflects lowest value of the year

SOUTH KINGSTOWN – Following July revisions, eight points were lost month to month in the August Current Conditions Index as the measure declined to...
BANK OF AMERICA reported a net of Net income of $7.2 billion in the third quarter. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

Bank of America’s lending business gets jolt off higher rates

NEW YORK - Bank of America Corp. got another boost from rising interest rates in the third quarter.The firm’s lending business produced the most...
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