Financial Services

Massachusetts embraces ‘managed competition’

Massachusetts’ effort to open its auto insurance industry to more competition should take another step forward this week, when the state insurance commissioner is...
Skip Ponte reads off the legal notice announcing the auction for a property
at 440 Benefit St. in Pawtucket.
/

R.I. foreclosures surged 37% in July

Last Wednesday at 1 p.m., auctioneer Skip Ponte of Irving Shechtman and Co. stood with a red clipboard outside a Pawtucket house next to...

U.S. new-home sales rise 2.8% in July

WASHINGTON – Sales of new homes in the U.S. unexpectedly rose last month for the second time this year, surging 2.8 percent to a...

FTC approves BofA’s purchase of LaSalle Bank

WASHINGTON – The Federal Trade Commission has granted regulatory approval for Bank of America Corp.’s $21 billion acquisition of the Chicago-based LaSalle Bank. Amsterdam-based...

Countrywide surges after BofA invests $2B

CHARLOTTE, N.C. – Bank of America Corp. (NYSE: BAC), the second-largest U.S. bank, has acquired $2 billion in non-voting preferred stock in the nation’s...
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Wall St. bonuses endangered by mortgage meltdown

NEW YORK – The credit freeze already affecting leveraged buyouts, mergers and computer-driven trading strategies may also drive Wall Street bonuses to their...
THE COMPANY said it intends to ask the Nasdaq Board of Directors to grant a further extension, beyond its current Sept. 25 deadline, to allow the company time to complete its probe of past stock-option practices and file its audited financial statements. /

Nasdaq cites Kopin for delayed 2Q filing delay

TAUNTON – Kopin Corp. (Nasdaq: KOPN) has received a non-compliance letter from Nasdaq, as expected, for failing to file its quarterly report for the...

2 UnitedHealth execs leave for jobs elsewhere

MINNEAPOLIS – UnitedHealth Group (NYSE: UNH), parent of UnitedHealthcare of New England, has announced the departure of two executive vice presidents, Richard Anderson and...
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Fed pares bond fee, holds firm on rates

WASHINGTON – The Federal Reserve halved the fee that bond-dealers pay on Treasuries as Chairman Ben S. Bernanke continued to strive to stem the...
COMPARED WITH July 2006, foreclosures nationwide rose 93 percent, RealtyTrac said. Above, sign advertising foreclosure resolutions sits outside a home in Eugene, Ore., late last month.  /

U.S. home foreclosures rise in July

IRVINE, Calif. – The number of U.S. homeowners facing foreclosure rose 9 percent in July compared with June, as rising interest rates put the...
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