SageView Closes $321 Million Acquisition of Summit Financial Consultants
Westlake Village, Californiabased team will be integrated under the SageView name NEWPORT BEACH, California, August 9, 2022 /PRNewswire/ — SageView Advisory Group (“SageView”), one of the nation’s leading independent RIA firms, announced today that it has completed the acquisition of Summit Financial Consultants and successfully transitioned its business to SageView . “Summit Financial has thrived under the leadership of Neil, Kimberly and Cody, and we are grateful that they will continue this journey as members of the SageView family,” he said. Randy Long, founder and CEO of SageView. “We look forward to supporting their continued growth as they deliver to…
Read More »Good news is bad news: Strong U.S. job gains could herald an economic recession
The U.S. added more than double forecasts for jobs in July. Fed policymakers have had to assert strong action to control inflation The Bank of England is under attack as inflation rises. The US is likely to enter a recession sometime in the next 12 months, if it is not already there. That was the conclusion drawn by Bill Dudley, the former president of the Federal Reserve Bank of New York, in remarks last week before July. That report showed an increase of 528,000 jobs, more than double the 250,000 expected, and a decline of 3.5% from 3.6% the previous…
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Bangladesh’s finance minister warns about China’s Belt and Road loans
Bangladesh’s finance minister has warned that developing countries should think twice before taking out more loans through China’s Belt and Road Initiative as global inflation and a slowdown in growth add to the tensions in indebted emerging markets. AHM Mustafa Kamal also said Beijing needed to be more rigorous in evaluating its loans amid concerns that poor lending decisions could push countries into debt distress. He pointed to Sri Lanka, where Chinese-backed infrastructure projects that failed to generate returns had exacerbated a severe economic crisis. “Whatever the situation [that] is happening all over the world, everyone will think twice about…
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Monessen focused on financial transparency
City Council of Monessen By KRISTIE LINDEN [email protected] The mayor of Monessen and the director of accounts and finance have implemented – or plan to implement – some changes with the intention of making the city’s finances more transparent. Part of that desire to make the city’s financial dealings more visible and easier to understand stems from what Councilman Tony Orzechowski and Mayor Ron Mozer, among others, hoped would come out during the presentation of the 2021 audit at the end of last month. To read the rest of the story, please see a copy of Tuesday’s Mon Valley Independent,…
Read More »Renovacor reports financial results for the second quarter of 2022 and provides a corporate update
CAMBRIDGE, Mass.–(BUSINESS THREAD)–Renovacor, Inc. (NYSE: RCOR), a biotechnology company focused on delivering innovative precision therapies to improve the lives of patients and families battling genetic cardiovascular and mechanical diseases, today reported financial results for the second quarter of 2022 and provided a corporate update. “The advances made at Renovacor this quarter allowed us to advance and expand our portfolio of precision AAV gene therapies that target the underlying drivers of devastating cardiovascular disease,” said Magdalene Cook, MD, Chief Executive Officer of Renovacor. “Peer-reviewed data published in the prestigious Journal of American College of Cardiology: Basic to Translational Science showed what…
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Rising interest rates drive Legal & General-CEO By Reuters
© Reuters. FILE PHOTO: The logo of insurance company Legal & General is seen at its office in central London March 17, 2008. REUTERS/Alessia Pierdomenico By Carolyn Cohn LONDON (Reuters) – Rising interest rates are helping Legal & General’s business, its chief executive said on Tuesday, as the British life insurer posted an 8 percent rise above forecasts in first-half operating profit and said it was on track to meet or exceed. your financial goals. Markets have fallen this year as central banks have raised rates aggressively to control inflation. But life insurers tend to profit from the higher interest…
Read More »Brighthouse Financial expands flagship Shield level annuity suite with new product offering guaranteed income for life
CHARLOTTE, NC–(BUSINESS THREAD)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “Company”) (Nasdaq: BHF) today announced the expansion of its flagship Brighthouse Shield® Level Annuities suite with the launch of Brighthouse Shield Level Pay PlusSM Annuities, which are designed to help strengthen clients’ retirement portfolios by providing a guaranteed income stream for life.1,2 Shield Level Pay Plus annuities also offer clients opportunities to participate in market growth combined with a level of protection against volatility on the market, both key design features of the Shield. ® Level annuities. “The financial impact of longevity has made guaranteed lifetime income an important consideration for…
Read More »White adults receive the most financial help from older relatives, survey shows: NPR
White adults are more than twice as likely as others to receive significant financial help from parents or other seniors, a new survey finds. It helps explain America’s persistent racial wealth gap. JUANA SUMMERS, HOST: White adults are more than twice as likely as others to receive significant financial help from parents. That’s one of the findings of a new poll by NPR and Harvard University that sheds light on America’s stark racial wealth gap. NPR’s Jennifer Ludden reports. JENNIFER LUDDEN, BYLINE: Angela Chevaux and her husband have made a good living in York, Pa. She is an insurance claims…
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