Liability

Russell Investments’ Annual ‘$20 Billion Club’ Analysis: Pension Plan Funded Status Stalls as Liability Growth Outpaces Asset Returns

Retrieved on: 
Tuesday, March 5, 2024

Even so, the average funded status for each corporation over the past three years was closer to the 100% threshold than any prior year since 2007.

Key Points: 
  • Even so, the average funded status for each corporation over the past three years was closer to the 100% threshold than any prior year since 2007.
  • Dubbed the $20 billion club, these large plans represent about 40% of all pension and liability assets of U.S. listed corporations.
  • The $20 billion club also experienced a funding deficit increase from $30 billion in 2022 to $43 billion.
  • Contributing factors included actuarial loss ($23.1 billion) partially offset by investment returns minus interest cost ($10.6 billion).

Ledyard Financial Group Reports Q4 2023 and Full-Year 2023 Earnings and Declares Quarterly Dividend

Retrieved on: 
Friday, February 9, 2024

Ledyard Financial Group, Inc. (“The Company”, ticker symbol: LFGP), the holding company for Ledyard National Bank, today announced financial results for Q4 2023 and Full-Year (FY) 2023.

Key Points: 
  • Ledyard Financial Group, Inc. (“The Company”, ticker symbol: LFGP), the holding company for Ledyard National Bank, today announced financial results for Q4 2023 and Full-Year (FY) 2023.
  • Non-interest revenue for Q4 2023 amounted to $3.6 million, up from $3.5 million and $123 thousand in Q3 2023 and Q4 2022, respectively.
  • Revenue from Ledyard Financial Advisors (LFA) amounted to $3.2 million for Q4 2023, essentially unchanged from Q3 2023, but up $184 thousand from $3.0 million in Q4 2022.
  • Non-interest expense in Q4 2023 was $7.0 million compared to $7.1 million in Q3 2023 and in Q4 2022, a decrease of $60 thousand compared to both Q3 2023 and Q4 2022.

Ulmer and Greensfelder Complete Merger to Create Am Law 200 Firm

Retrieved on: 
Thursday, February 1, 2024

announced that they have completed their merger , effective today, creating a new Am Law 200 law firm, UB Greensfelder LLP .

Key Points: 
  • announced that they have completed their merger , effective today, creating a new Am Law 200 law firm, UB Greensfelder LLP .
  • The new firm is led by Greensfelder president and CEO, Kevin T. McLaughlin , and Ulmer managing partner, Scott P. Kadish, who now serve as co-managing partners.
  • Ulmer and Greensfelder, with complementary practice and geographic strengths, announced on December 5, 2023, that their respective partners and shareholders had voted unanimously to approve the merger.
  • Based on those numbers, UB Greensfelder would have ranked approximately 181 on the 2023 Am Law 200 and 163 on the NLJ 500.

Chubb Appoints Anna Källs as Country Manager for Sweden and Finland

Retrieved on: 
Thursday, January 25, 2024

STOCKHOLM, Jan. 25, 2024 /PRNewswire/ -- Chubb today announced the appointment of Anna Källs as Country Manager for Sweden and Finland, effective from February 1.

Key Points: 
  • STOCKHOLM, Jan. 25, 2024 /PRNewswire/ -- Chubb today announced the appointment of Anna Källs as Country Manager for Sweden and Finland, effective from February 1.
  • In her new role Källs will be responsible for Chubb's property and casualty, and accident and health operations across Sweden and Finland.
  • Källs joins Chubb from Willis Towers Watson (WTW) where she was Head of Large & Complex Business and Practice Leader for Liability since 2022.
  • Paul Woodgate said: "I am delighted that Anna is joining Chubb to take up this important role.

Nanox Announces Third Quarter of 2023 Financial Results and Provides Business Update

Retrieved on: 
Tuesday, November 28, 2023

NEVE ILAN, Israel, Nov. 28, 2023 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD (NASDAQ: NNOX) (“Nanox” or the “Company”), an innovative medical imaging technology company, today announced results for the third quarter ended September 30, 2023 and provided a business update.

Key Points: 
  • Generated $2.5 million in revenue in the third quarter of 2023, compared to $2.4 million in the third quarter of 2022.
  • The Company reported revenue of $2.5 million in the reported period, compared to $2.4 million in the comparable period.
  • During the third quarter of 2023, Nanox AI continued to complete pilot programs with marketplaces, marketplace costumers and health organizations in anticipation of full deployment of its products.
  • A reconciliation between GAAP and non-GAAP financial measures for the three- and nine-month periods ended September 30, 2023, and 2022 is provided in the financial results that are part of this press release.

Chaffin Luhana Partner, Roopal Luhana Appointed as Co-Lead In Uber Rideshare Litigation

Retrieved on: 
Friday, December 8, 2023

NEW YORK, Dec. 8, 2023 /PRNewswire-PRWeb/ -- The Honorable Charles R. Breyer of the U.S. District Court for the Northern District of California has appointed Chaffin Luhana LLP Founder and Partner, Roopal Luhana as Co-Lead in the Uber Passenger Sexual Assault Litigation MDL (No. 3084).

Key Points: 
  • Roopal Luhana, Founder and Partner at Chaffin Luhana LLP has been appointed as Co-Lead Counsel in the Uber Rideshare Litigation MDL by the U.S. District Court for the Northern District of California.
  • NEW YORK, Dec. 8, 2023 /PRNewswire-PRWeb/ -- The Honorable Charles R. Breyer of the U.S. District Court for the Northern District of California has appointed Chaffin Luhana LLP Founder and Partner, Roopal Luhana as Co-Lead in the Uber Passenger Sexual Assault Litigation MDL (No.
  • Ms. Luhana, who co-founded Chaffin Luhana LLP firm with partner Eric Chaffin in 2010, has many years of experience in consolidated litigation.
  • "I am deeply honored to be appointed as Co-Lead Counsel in the Uber Rideshare Litigation MDL.

Hearing Notice - CIRO Hearing Panel Issues a Decision on Costs in the Matter of Dominic Spooner

Retrieved on: 
Tuesday, December 5, 2023

VANCOUVER, BC, Dec. 5, 2023 /CNW/ - A hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued a decision on costs in the matter of Dominic Spooner following its Decision on Liability and Penalty, issued on July 23, 2023, available at Re Spooner 2023 CIRO 07 .

Key Points: 
  • VANCOUVER, BC, Dec. 5, 2023 /CNW/ - A hearing panel of the Canadian Investment Regulatory Organization (CIRO) issued a decision on costs in the matter of Dominic Spooner following its Decision on Liability and Penalty, issued on July 23, 2023, available at Re Spooner 2023 CIRO 07 .
  • Based on the parties' joint cost submissions, the hearing panel ordered Dominic Spooner to pay $15,000 in costs, in addition to other penalties imposed in the Decision on Liability and Penalty.
  • Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service.
  • The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces.

Clubhouse Media Group, Inc. Announces Third Quarter 2023 Financials, Reporting Growth Over Second Quarter

Retrieved on: 
Thursday, November 9, 2023

LOS ANGELES, Nov. 9, 2023 /PRNewswire/ -- Clubhouse Media Group, Inc. (OTCMKTS: CMGR) ("Clubhouse Media"), a social media firm and digital agency, today announced financial results for the third quarter of 2023.

Key Points: 
  • LOS ANGELES, Nov. 9, 2023 /PRNewswire/ -- Clubhouse Media Group, Inc. (OTCMKTS: CMGR) ("Clubhouse Media"), a social media firm and digital agency, today announced financial results for the third quarter of 2023.
  • "Our revenue has significantly increased and we managed to decrease the total debt from last quarter.
  • We're excited about the growth potential for both our digital agency and our creator monetization platform."
  • "I think this was a successful quarter" added Scott Hoey, Chief Financial Officer of CMGR.

Bankruptcy Filings up to the 3rd quarter of 2023 exceed total filings for 2021 and 2022

Retrieved on: 
Thursday, October 5, 2023

BOSTON, Oct. 5, 2023 /PRNewswire-PRWeb/ -- According to Data compiled by New Generation Research's BankruptcyData, Bankruptcy Filings as of the end of the Quarter ended September 31, 2023, totaled 7518 year to date. This is the highest rate of bankruptcy since 2020, up sharply from last year. The total number of filings YTD in 2023 exceeds all filings for both 2021 and 2022, and is on a pace which rivals the activity of 2020, itself was a record year unequaled since the days of the Global Financial Crisis.

Key Points: 
  • BOSTON, Oct. 5, 2023 /PRNewswire-PRWeb/ -- According to Data compiled by New Generation Research's BankruptcyData , Bankruptcy Filings as of the end of the Quarter ended September 31, 2023, totaled 7518 year to date.
  • So far in 2023, there have been such filings versus 383 for all of 2022, an increase of over 70%, and there are still three months to go in 2023.
  • Also, the number of companies doing a round trip to Bankruptcy court among public and large private companies has risen markedly in 2023.
  • The pace of filings has been trending upwards during the course of the year as the graph below indicates.

Integrated Ventures Reports $3,862,849 In Yearly Mining Revenues With 162 Bitcoins Produced

Retrieved on: 
Friday, September 29, 2023

Management Comments And Financial Highlights:

Key Points: 
  • Management Comments And Financial Highlights:
    BTC Production/Mining Revenues: the Company generated the Total Revenues of $3,862,849.00 (2023) vs $4,871,473.00 (2022).
  • Net Income (Loss): The Company reported Net Income Loss of $25,459,967.00 for 2023 vs Net Income Loss of $688,003.00, for 2022.
  • Increase in cost of revenues is due primarely to an increase in Depreciation Expense, in amount of $3,597,346.00.
  • In spite of prolonged and on-going weakness of crypto markets, the Company was able to generate 162.71 bitcoins - without raising any additional capital.