Financial Services

TEXTRON Chairman, CEO and president Lewis B. Campbell reported strong results across the company's four business units today. /

Textron 2Q results strong as board <br>increases dividend

PROVIDENCE – Textron Inc. today reported net income for the second quarter of $210 million, nearly triple what it recorded a year ago, on...
FEDERAL RESERVE CHAIRMAN Benjamin S. Bernanke delivers his semiannual policy report to the House Financial Services Committee today. /

Fed chief sees growth and lower inflation <br>on horizon

WASHINGTON – In testimony before the House Financial Services Committee, Federal Reserve Chairman Benjamin S. Bernanke predicted moderate economic growth for the U.S. economy...
WORKERS INSTALL SIDING on a home under construction in Erie, Colo. U.S. builders started work on an unexpectedly high number of homes in June. /

Brief reprieve: housing starts climb, <br>but permits drop

WASHINGTON - Led by increased apartment construction, housing starts grew 2.3 percent in June to an annual rate of 1.47 million, according to a...
BEACON MUTUAL President and CEO James V. Rosati announced a 5.7-percent drop in the company's rates, effective October 1. /

Beacon Mutual lowers rates <br>for $7.5M in savings

WARWICK - Beacon Mutual Insurance Co. today announced that the R.I. Department of Business Regulation has approved a reduction in rates by an average...
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NewportFed to buy back shares

NEWPORT – Newport Bancorp. (Nasdaq: NFSB), parent company of Newport Federal Savings Bank, today announced plans to repurchase up to 5 percent – or...

FM Global adds Hong Kong to its reach

FM Global, the 170-year-old commercial property insurer based in Johnston, has received approval to set up a branch office in Hong Kong. “FM Global...
MIKE SAUL is taking on the newly created position of managing director of finance programs for the R.I. EDC. /

RIEDC creates and fills new finance position

J. Michael Saul, executive director of the Urban Revitalization Fund (TURF), has been named the managing director of finance programs for the R.I. Economic...
ROYAL BANK OF SCOTLAND GROUP is forging ahead with its plan to acquire ABN Amro with two other banks, despite losing in a Dutch court in its bid to halt the sale of LaSalle Bank to Bank of America. /

RBS sweetens bid for ABN to trump Barclays

Royal Bank of Scotland Group Plc upped the cash portion of it 71.1 billion euro ($98.1 billion) bid for ABN Amro Holding NV to...

A wind powerhouse in Attleboro?

Taking on a major obstacle to mass adoption of wind energy, a startup company based in Attleboro is working to develop a system that...
NEW MARKETS credits helped finance this child care facility in Woonsocket, slated to open in September. /

Tax credits promoting development

The vacant Hope Street School in Woonsocket’s Constitution Hill neighborhood used to be a major eyesore in an area that has been drawing new...

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