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Genworth’s $2.7B acquisition by Chinese company faces new hurdle
Henrico County-based Genworth Financial Inc. announced Thursday that China-based Oceanwide Holdings Group Co. Ltd. has reached an agreement with Hony Capital on the commercial terms and conditions of its $1.8 billion offshore financing plan to complete its acquisition of Genworth. However, Oceanwide has not reached a final agreement on all terms and conditions due to […]
Virginia National, Fauquier banks to merge
The parent holding companies of Virginia National Bank and The Fauquier Bank will merge under the Virginia National brand into a combined bank with $1.6 billion in total assets. Charlottesville-based Virginia National Bankshares Corp. and Warrenton-based Fauquier Bankshares Inc. have signed a definitive merger agreement, the banks announced Thursday. The combined company will have approximately $1.4 […][...]
Liberty pays Falwell two years’ base salary in severance deal
Liberty University announced Tuesday that it has paid Jerry Falwell Jr., its embattled and controversial former president and chancellor, two years’ base salary as severance. Falwell resigned on Aug. 25 under a barrage of international media coverage of his alleged role in a sex scandal involving his wife’s admitted [...]
Richmond converts small business loans to grants
Five years ago, when Sandi Cauley opened her boutique fitness business, Turn Cardio Jam Studio, she did so on her own dime — not wanting to be strapped to loans and investors. But after the pandemic hit, she needed outside help to keep her business afloat. After she had trouble securing a Paycheck Protection Program […]
Office building in Henrico County sells for $5.85M
An office building in Henrico County has sold for $5.85 million, Cushman & Wakefield | Thalhimer announced Wednesday. Located at 4461 Cox Rd. in the Innsbrook Corporate Center, the 70,000-square-foot office building was approximately 50% occupied at the time of the sale, with printing software company TriMech as the main t[...]
Gov. Northam, first lady test positive for COVID-19
Virginia Gov. Ralph Northam and first lady of Virginia Pamela Northam have tested positive for COVID-19, according to an announcement Friday from the Governor’s Office. On Wednesday evening, the Northams were notified that a member of the governor’s official residence staff, who works closely within the couple’[...]
University of Richmond president to step down
University of Richmond President Ronald A. Crutcher announced Wednesday he has asked the board of trustees to begin a search for his successor, with plans to have a new president take office no later than July 1, 2022. Following his term as president, Crutcher and his wife, Betty, will travel to Berlin for a sabbatical […[...]
Central Va. sales, use tax rate to increase Oct. 1
Starting Oct. 1, the sales and use tax rate in Central Virginia will go up by 0.7% to a total of 6%, Virginia Tax announced Tuesday. The change approved by the 2020 Virginia General Assembly affects the 4.3% state tax, the 0.7% regional state tax and the 1% local option tax. Affected localities include Richmond […]
Charlottesville launches young professionals group
The Charlottesville Regional Chamber of Commerce announced Monday it has launched Cville Rising Professionals, a business networking group for people under the age of 40. The group is open to Chamber members and nonmembers and will assist young professionals in making connections in the business world. “We’ve needed a group like this in Charlottesville for […]
The Hilb Group acquires Ct.-based insurance company
Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Shelton, Connecticut-based Ganim Group Inc. (Ganim Benefits) from investment advisory company Ganim Financial Inc. Transaction details were not disclosed. This marks THG’s 11th acquisition within the past year. Ganim Benefits [...]
VHHA partners with new Va.-based company for medical-grade masks
The Virginia Hospital & Healthcare Association and its Shared Services Corp. subsidiary have partnered with a newly founded Richmond-area business to obtain domestically produced medical-grade face masks for hospitals and other health care providers in Virginia, VHHA announced Monday. Olivian’s masks are not N95 but ar[...]
VCU scientists studying cancer drug as COVID-19 treatment
A group of scientists at Virginia Commonwealth University’s Massey Cancer Center discovered that an experimental cancer drug keeps the virus that causes COVID-19 from infecting cells and replicating. Their findings were published Monday in the Biochemical Pharmacology journal and will be tested in a clinical trial at VCU Health. AR-12 has been studied as an […]
