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Providence, US
Saturday, August 18, 2018

Financial Services

'WE ARE PLEASED with the outcome of the first quarter, which reflects the continued conversion of our balance sheet to a more commercial profile,' said President and CEO Merrill W. Sherman. /

Bancorp RI 1Q profit soars 43%

PROVIDENCE – Bancorp Rhode Island Inc. (Nasdaq: BARI), the parent of Bank Rhode Island, today reported a 43-percent increase in first-quarter profit to $2.2...

Acushnet Co. 1Q operating income <br>shrinks 8.2% to $53.6M

Fairhaven-based golf equipment and apparel manufacturer The Acushnet Co. today reported its first-quarter operating income declined 8.2 percent to $53.6 million, on sales that...

Textron board declares quarterly dividends

PROVIDENCE – The board of directors of Textron Inc. (NYSE: TXT) yesterday declared several quarterly dividends, the company said. • A dividend of 38.75 cents...
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Slades Bank posts 1Q profit of $873,000

SOMERSET – Slade’s Ferry Bancorp (SFBC), the parent of Slades Bank, said its first-quarter profit declined 3.7 percent to $873,000 from the year-ago...
AN ELECTRONIC BOARD hanging above the floor of the New York Stock Exchange shows the Dow Jones Industrial Average at 13,000.01 shortly after the market opened this morning. The index continued to rise, closing at 13,089.896 points. /

Market rally boosts Dow beyond 13,000

NEW YORK – The U.S. financial markets’ biggest rally in more than three years continued today, pushing the Dow Jones Industrial Average above...
UNITEDHEALTHCARE of New England CEO Stephen J. Farrell agreed not to appeal the charges, as part of a settlement that reduced the fine from the original $75,000, said company spokeswoman Debora M. Spano.  'This is still a new law, and we're still trying to work our way through it,' she added. /

UnitedHealth faces $67,500 in R.I. fines

PROVIDENCE – A “market conduct” examination of UnitedHealthcare of New England has found the company failed to comply with Rhode Island’s small-group health insurance...

‘Liar loans’ worsen housing slump, officials say

WASHINGTON – Mortgage-application fraud by borrowers and brokers is fueling a wave of foreclosures that will prolong the U.S. housing slump, according to Robert...

Existing home sales fall 8.4% in March

WASHINGTON – Sales of previously owned homes fell 8.4 percent last month to a seasonally adjusted rate of 6.12 million housing units per year...

CVS/Caremark backs director candidates

WOONSOCKET – CVS/Caremark Corp. (NYSE: CVS) “strenuously disagrees” with a pension-fund group that urges shareholders to withhold support for two directors who have been...

Management Capital buys display-fixtures firm

PROVIDENCE – Management Capital LLC says it has completed its purchase of the assets and business of Wire Weld USA Inc. of Lockport, N.Y.,...
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