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Pennsylvania’s The Beacon Group Announces Senior-Level Promotions
The Beacon Group of Companies, an independent financial services firm, has announced senior-level promotions within its Institutional Retirement Plan Practice. Mark W. Schatzel has been promoted to the role of managing director of retirement plan sales and services. Schatzel will …

POSTED AUGUST 14, 2018 3:51 PM
Build vs. Buy an Agency: Organic Growth in Rising Interest Rate Environment
Now that interest rates are rising again, it’s time to re-examine whether buying an insurance agency is the smart choice for growth or whether building an agency makes more sense. While lots of factors come into play when agents want …

POSTED AUGUST 14, 2018 3:29 PM
Icahn Halts Bid to Block Cigna’s Takeover of Express Scripts
Activist investor Carl Icahn has dropped his fight to block Cigna Corp.’s $54 billion acquisition of Express Scripts Holding Co. after two prominent shareholder advisory firms came out in support of the deal. Institutional Shareholder Services Inc. and Glass Lewis …

POSTED AUGUST 14, 2018 2:51 PM
Tesla CEO Musk Just Made It Easier for Shareholders to Sue: Viewpoint
On Monday morning, six days after Tesla CEO Elon Musk tweeted that he was thinking about taking the company private at $420 a share, with “funding secured” for the transaction, Tesla published a blog post in which Musk clarified his …

POSTED AUGUST 14, 2018 1:45 PM
Bus Hits Overpass at Newark Penn Station, Dozens Injured
A bus hit an overpass at Newark’s Penn Station, peeling back part of its roof and injuring dozens of passengers. Officials say about 50 people were on the bus, which was headed to New Jersey from Washington, when it hit …

POSTED AUGUST 14, 2018 1:36 PM
Officials Say Underground Fire at Pennsylvania Glass Plant May Be Spreading
Officials fear that an underground coal refuse fire at the site of a soon-to-be-shuttered glass factory in western Pennsylvania may be spreading. Workers say fire was seen shooting up through the ground behind the Pittsburgh Glass Works plant in East …

POSTED AUGUST 14, 2018 1:05 PM
XL Catlin Expands M&A Underwriting Team with Khalidi and Jensen
XL Catlin insurance operations recently added Naveed Khalidi and Michelle Jensen to its team of Mergers and Acquisitions (M&A) insurance underwriters. Khalidi joins XL Catlin from Allied World Assurance Co., where he most recently held the position of senior underwriter …

POSTED AUGUST 14, 2018 1:00 PM
Virginia Forms Task Force to Block Worker Misclassification
Virginia Governor Ralph Northam has signed an executive order establishing a task force to come up with a plan to prevent worker misclassification and payroll fraud. The state estimates that the misclassification of employees as independent contractors costs Virginia as …

POSTED AUGUST 14, 2018 12:48 PM
Canada Delays Sales of Recreational Cannabis in Retail Stores as Legalization Looms
Canada’s largest province is delaying the launch of private marijuana sales in bricks-and-mortar stores until April 2019, nearly six months after the drug is legalized for recreational use. Ontario’s Progressive Conservative government said Monday it will start cannabis sales with …

POSTED AUGUST 14, 2018 11:24 AM
Indonesia Quake Losses Exceed Several Hundred Million Dollars; Deaths Pass 430
The death toll from the earthquake that rocked the Indonesian island of Lombok a week ago has passed 430 and the government is estimating economic losses will exceed several hundred million dollars. The national disaster agency said Monday the Aug. …

POSTED AUGUST 14, 2018 11:03 AM

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