Financial Services

Morgan Stanley fined $250,000 by R.I. DBR

PROVIDENCE – Securities broker Morgan Stanley & Co. Inc., formerly Morgan Stanley DW Inc., has paid a civil penalty of $250,000, the R.I. Department...
FEWER CONTRACTS for existing homes were signed in May than in any month in the past 5 years, the National Association Realtors said this week. (READ MORE) Above, a for sale sign in San Diego lists expensive upgrades, in an attempt to attract prospective buyers. /

Layoff announcements fall 17%

CHICAGO – Corporate layoff announcements nationwide fell to 55,726 last month, 17 percent fewer than in June 2006 and 22 percent fewer than in...

St. Joseph Health Services rating downgraded

PROVIDENCE – Princeton, N.J.-based Standard & Poor’s has lowered its rating for certain St. Joseph Health Services of Rhode Island bonds, from BBB- to...

Mechanics, Bridgewater banks to merge

TAUNTON – Mechanics Cooperative Bank has agreed to merge with Bridgewater Cooperative Bank, forming a $180 million institution with two offices in Taunton, one...
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Headrick resigns from CVS Caremark board

WOONSOCKET – Former Caremark Corp. director Roger L. Headrick has resigned from the CVS Caremark Corp. (NYSE: CVS) board of directors, effective immediately, CVS...

Quaker Fabric plans to liquidate assets

FALL RIVER – Quaker Fabric Corp. (Nasdaq: QFAB) “likely will commence an orderly liquidation of its business and a sale of its assets,” the...

Bank of America closes U.S. Trust deal

PROVIDENCE – Bank of America today announced it has completed its acquisition of U.S. Trust Corp. and has named William F. Hatfield to serve...

Textron Financial renames Systran division

PROVIDENCE – Textron Financial Corp., a subsidiary of Textron Inc. (NYSE: TXT), today announced that its Systran Financial Services division has been renamed the...

Physical therapist pays $100,000<br> to help settle Medicare charges

PROVIDENCE – William H. Wynne, a physical therapist who had offices in East Providence and Warwick, has paid the U.S. government $100,000 to settle...

Providence Equity in $48.9B winning bid for BCE

Investors led by the Ontario Teachers’ Pension Plan and Providence Equity Partners beat out rival bidders for Montreal-based BCE Inc., Canada’s biggest telephone...

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