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POSITIVE PICTURE: PBN Economic Trends Summit keynote speaker Osborne Jackson, senior economist with the Federal Reserve Bank of Boston, tells attendees employment, labor-market participation, housing prices and consumer confidence are in generally healthy condition in Rhode Island. 
 / PBN PHOTO/RUPERT WHITELEY

Summit attendees encouraged by healthy condition of R.I., N.E. economies

Osborne Jackson, senior economist with the Federal Reserve Bank of Boston, offered a generally positive image of Rhode Island’s and New England’s current economic...
CITIZENS BANK N.A. reported net income of $1.39 billion as of Dec. 31, 2018, according to data released by the Federal Deposit Insurance Corp. on Thursday. / PBN FILE PHOTO/ELI SHERMAN

FDIC: Local banks see profit grow 38% in 2018

PROVIDENCE – More than 20 banks with branches located in Rhode Island and Bristol County, Mass., reported year-over-year increases in net income at the...
BANK OF AMERICA analysts predicted that a real deal with China on tariffs and full access to China markets by U.S. firms could cause a S&P 500 rally of 5-10 percent. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA says a `real’ trade deal could vault S&P 500 to...

NEW YORK - With stocks rallying this year amid signs of nascent progress in China-United States trade talks, investors may be inclined to conclude...
BRIAN MOYNIHAN received $25 million in stock grants and a $1.5 million salary in 2018. / BLOOMBERG NEWS/SIMON DAWSON

BofA boosts Moynihan’s pay to record $26.5M for last year

NEW YORK - Bank of America Corp. awarded CEO Brian Moynihan a record $26.5 million for 2018, a 15 percent increase from a year earlier.Moynihan,...
DESPITE $21 BILLION in savings due to the Republican tax overhaul at the 23 U.S. banks the Federal Reserve deems most important to the nation’s economy, firms still cut thousands of jobs and saw their lending growth slow. / BLOOMBERG NEWS FILE PHOTO/CHRISTOPHER DILTS

Banks’ $21B tax windfall doesn’t stop their job cuts

NEW YORK - Major United States banks shaved about $21 billion from their tax bills last year - almost double the IRS’s annual budget...
BANK OF AMERICA reported a net income of $7.3 billion. / BLOOMBERG NEWS FILE PHOTO/RON ANTONELLI

BofA’s retail bankers save day for beleaguered bond traders

NEW YORK - Bank of America Corp.’s consumer bankers saved the day for their bond-trading colleagues.The company’s retail-banking business saw a 5 percent jump...
JP MORGAN CHASE said Friday it will open 12 retail bank branches in Greater Providence and Rhode Island, with the first branch opening in June in Providence. / BLOOMBERG NEWS FILE PHOTO/SCOTT FELLS

JPMorgan Chase discloses details of R.I. plans

PROVIDENCE – JPMorgan Chase & Co. will open its first of 12 retail bank branches in Greater Providence and Rhode Island in June, the company...
NINE BIG BANKS and brokers are attempting to form a new United States stock market called The Members Exchange. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

Brokers form new stock market to take on NYSE, Nasdaq, Cboe

NEW YORK - A group of big banks and brokers is forming a new United States stock market, funneling years of frustration about how much...

Bank of America launches another Merrill Edge online research tool

PROVIDENCE – Merrill Edge, a streamlined investment service owned by Bank of America Corp., has launched Fund Story, a new online research tool designed...

Editor’s Choice: SBA, Center for Women & Enterprise to host Small...

EDITOR’S CHOICE SBA, CWE to host Small Business Economic Summit THE U.S. SMALL BUSINESS Administration and the Center for Women & Enterprise will host...
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