Financial Services

Subsidy cuts will raise student loan costs, banks say

Middle-income American families will pay more for college if lawmakers cut federal subsidies to lenders, limiting children’s chances for education, student-loan companies said last...

McAfee: Cyber-criminals exploit networking sites

Criminals are exploiting social networking Web sites such as MySpace, Facebook and Bebo to trick and defraud users, according to a report from McAfee...

A creative way to attract buyers in a slow market

Mark Reo says he’s in the business of creative problem-solving in a problematic market. The founder and president of Cranston-based Reo Properties came up...

Warwick Hooters closes, future of chain unclear

WARWICK – The Hooters restaurant on Airport Road has closed its doors, perhaps for good. The restaurant is one of 12 Hooters in New...

Fed again leaves rates at 5.25%

WASHINGTON – Federal Reserve System policymakers today agreed to leave the federal funds rate, used for overnight loans between banks, at 5.25 percent. The...

Mass. charges UBS with securities violations

BOSTON – The office of Secretary of the Commonwealth William F. Galvin has accused UBS Securities LLC, the investment-banking division of Zurich-based UBS AG,...
GUARDS watch the Federal Reserve building in Washington, D.C., as the Federal Open Market Committee meets inside. Recent economic reports have left analysts unsure whether the FOMC will act to raise interest rates. /

Fed to slash 1,740 jobs

WASHINGTON – The Federal Reserve will eliminate 1,740 jobs over the next four years as it consolidates check-processing operations at four regional sites, in...

Study: Service sector is 82% of R.I. economy

WASHINGTON – In a new study, the Coalition of Service Industries analyzes the benefits provided by the services sector to each U.S. state.It...

Family caregiving in R.I. worth $1.44M per year

PROVIDENCE – Rhode Islanders provided an estimated $1.44 million dollars worth of care to family members last year year, according to an AARP report...

Zoellick confirmed as World Bank president

WASHINGTON – Robert B. Zoellick’s nomination to the World Bank presidency has been confirmed by the agency’s board.“I welcome the board’s action approving...
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