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Gov. Glenn Youngkin meets with Taiwan President Tsai Ing-wen in Taipei, Apr. 24, 2023. Photo courtesy Office of Gov. Glenn Youngkin.
Apr 24, 2023

Va. to establish trade office in Taiwan

Virginia will establish a trade office in Taipei, Taiwan‘s capital, Gov. Glenn Youngkin announced Monday morning after meeting with that country’s president, Tsai Ing-wen. Youngkin’s meeting with Taiwan’s president came during the governor’s first international trade mission, during which he will also stop in Seoul, South Korean and Tokyo throughout the remainder of A[...]

Apr 4, 2023

Youngkin to meet with Taiwan’s president

Amid rising tensions with China, Virginia Gov. Glenn Youngkin will meet with Taiwanese President Tsai Ing-wen on his first international trade mission this month. Youngkin will travel to Taipei City, Taiwan; Tokyo; and Seoul, South Korea, from April 24 to April 29, according to a Tuesday news release. “I’m excited to represent the commonwealth in […]

Mar 8, 2023

Feds say Chinese cranes used at Port of Va. could be spy tools

The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major shareholder is […]

Youngkin spoke at the September 2022 event for Plenty Unlimited in Chesterfield. Photo by Daniel Sangjib Min/Richmond Times-Dispatch via Associated Press
Feb 27, 2023

Making the grade

For Virginia Gov. Glenn Youngkin, this is the state’s rebuilding era. Although his Democratic predecessor, Gov. Ralph Northam, trumpeted Virginia’s unprecedented consecutive two-time run as CNBC’s Top State for Business, Youngkin has been critical of the state missing out to our Southern neighboring states on big manufacturing deals because of Virginia’s dearth of project-r[...]

Feb 27, 2023

March 2023 Top Five

  The top five most-read daily news stories on VirginiaBusiness.com from Jan. 14 to Feb. 13 included Gov. Glenn Youngkin’s controversial decision to prevent a Ford electric battery factory from coming to Southern Virginia over worries about the project’s ties to China. The plant instead will be locating in Michigan, about 100 miles west of […]

During a June 15, 2022, news conference at the Science Museum of Virginia in Richmond, Gov. Glenn Youngkin announced that the Lego Group plans to build a $1 billion toy factory in Chesterfield County. Cover rendering courtesy Lego Group; Youngkin photo by Shaban Athuman/AP Images
Jan 17, 2023

Democrats call out Youngkin on Ford plant decision

Democratic state delegates excoriated Virginia Gov. Glenn Youngkin on Tuesday for taking Virginia out of the running for a $3.5 billion Ford Motor Co. battery manufacturing plant that would have created at least 2,500 jobs in Southern Virginia. The governor said last week that although Virginia was a finalist for the economic development project, he […]

Sep 23, 2022

Raytheon wins $985M Air Force hypersonic missile contract

Raytheon Technologies Corp.’s missile and defense division has received the go-ahead from the Air Force to move beyond the prototype phase and continue development of a new hypersonic cruise missile weapon under a nearly $1 billion contract announced by the Pentagon Thursday. The Hypersonic Attack Cruise Missile is an air-launched, maneuverable weapon propelled by a […]

Summit Eleven Inc. Chief Operating Officer Joseph Toe (L) spoke with Dr. Xiong Chang, owner of Acupuncture Chang, on Dec. 3, 2021, in Charlottesville. Photo by Matthew R.O. Brown
Dec 31, 2021

Mentorship and management

Brought to you by Virginia Business and Bank of America, in 2021 we hosted a diverse group of six Virginia business leaders for three Diversity Leadership Series events. These virtual fireside chats featured the executives sharing their insights on leadership, their career paths, and diversity and equity. The third installment of our series took place […]

Apr 6, 2021

Genworth kills long-delayed $2.7B acquisition

Henrico County-based Fortune 500 insurer Genworth Financial Inc. announced Tuesday that it has formally terminated its long-delayed $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. The news follows a Jan. 5 announcement by Genworth that it was putting a hold on the deal, first announced in 2016. At the same time, the company […]

Nov 30, 2020

Long-delayed Genworth acquisition postponed again

Henrico-based Genworth Financial Inc. and China-based Oceanwide Holdings Group Co. Ltd. announced on Monday that Oceanside’s long-delayed $2.7 billion acquisition of Genworth has been reapproved by China’s National Development and Reform Commission, and the acquisition has been postponed until the end of December. With the Chinese government’s reapproval, Oceanwide will now move [...]

Dec 23, 2019

Genworth extends Chinese acquisition to March

Henrico County-based Fortune 500 insurance company Genworth Financial Inc. has extended the timeline for its long-delayed $2.7 billion takeover by China Oceanwide Holdings Group Co. Ltd. until March 31, the company announced Monday, marking the 13th time the agreement has been extended. On Dec. 12, Genworth sold its majority stake in its Canadian mortgage insurance […]

Dec 12, 2019

Genworth completes $1.8B sale of Canadian unit

Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD) […]

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