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$2.7B Genworth acquisition is on hold
UPDATED JAN. 5 Henrico County-based Genworth Financial Inc.’s planned $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. has been frozen. In late November, the companies announced that Oceanwide’s acquisition of the Fortune 500 insurance company had been reapproved by China’s National Development and Reform Commission, and the acquisition, which has been fr[...]
The VirginiaBusiness.com Top Five
The top trending stories on VirginiaBusiness.com from Nov. 16 to Dec. 15 included the news that Gov. Ralph Northam was ordering new restrictions based on post-Thanksgiving surges in coronavirus cases. Wise County is first to receive Starlink internet in Va. The pilot program from Elon Musk’s SpaceX will provide broadband via low-orbit satellites. (Dec. 14) […]
Short Pump Hilton faces receivership, foreclosure
The Hilton Richmond Hotel and Spa in Short Pump, the flagship of Chester-based Shamin Hotels’ empire, may change hands as a result of the COVID-19 pandemic. According to a complaint filed in Henrico County Circuit Court on Dec. 2, 12042 West Broad Street Holdings LLC, the Bethesda, Maryland-based noteholder on the property, alleges a breach […]
Boy Scouts’ Heart of Va. Council purchases $2.8M Henrico HQ
The Boy Scouts of America’s Heart of Virginia Council has purchased a $2.875 million office building in Henrico County as its new Richmond-area headquarters, Colliers International Virginia LLC announced Tuesday. The 26,290-square-foot office building at 8090 Villa Park Drive near the intersection of East Parham and Brook roads will be renovated beginning in January. Nearly […]
The Hilb Group announces 101st acquisition
Marking its 101st acquisition to date, Henrico County-based insurance company The Hilb Group LLC (THC) announced Tuesday it has acquired Williston Park, New York-based insurance agency Hiram Cohen & Son Inc. (HCS), effective Dec. 1. Financial details of the acquisition were not disclosed. A family company founded in 1919, HCS is still operated by founder […]
Hilb Group announces third December acquisition
In its third acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Lexington County, South Carolina-based employee benefits consulting, management and brokerage firm Plan Benefit Services Inc. (PBSI), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1986, PBSI provides employee benefits, retiree benefit[...]
14K+ Virginians filed initial jobless claims last week
The number of initial jobless claims filed last week reached close to its Aug. 8 peak, with more than 14,000 Virginians filing initial unemployment claims, according to Virginia Employment Commission data released Thursday. The week prior, initial claims reached more than 16,000. While there was a 12.9% decrease in claims from the previous week, the […]
The Hilb Group makes second December acquisition
In its second acquisition announcement this week, Henrico County-based insurance company The Hilb Group LLC (THG) has acquired Montclair, New Jersey-based insurance and risk management brokerage William H. Connolly & Co. LLC (WHC), effective Dec. 1. Financial details of the acquisition were not disclosed. Founded in 1950 by William H. Connolly Sr., WHC was owned […]
Va. initial jobless claims nearly doubled last week
The number of initial jobless claims filed last week jumped 93.5% — its highest level since the Aug. 8 filing week, the Virginia Employment Commission reported Thursday. For the week ending Dec. 5, 16,654 Virginians filed initial claims for unemployment, nearly a two-fold increase of 8,048 from the previous week. “While one week doesn’t constitute […]
FDA authorizes sale of Altria’s IQOS 3 device
The third generation of Altria Group Inc.’s IQOS tobacco heating system device has been authorized for sale in the United States by the U.S. Food and Drug Administration, the Henrico County-based company announced Monday. After receiving an application from Philip Morris International, the FDA ruled that IQOS 3 can be sold to adults in the […]
Va. jobless claims fall to lowest level since March
The number of initial jobless claims filed last week fell to its lowest level since the pandemic’s employment effects began to be felt in mid-March, the Virginia Employment Commission reported Thursday. Initial jobless claims in Virginia dropped by 29.7% last week compared with the previous filing week, according to the VEC, while continued claims fell […]
These 16 Va. companies received $10M PPP loans
The U.S. Small Business Administration on Tuesday released additional information about all approved borrowers from its $659 billion Paycheck Protection Program (PPP) small business relief program, this time including exact company names, loan amounts, addresses and other information. Previously, the government in early July had released an incomplete list of recipients, including only ranges of[...]
