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A panel of three judges in the 11th U.S. Circuit Court of Appeals heard oral arguments from lawyers for more than half the states and from lawyers for the federal government. In a battle largely waged along partisan lines, most states involved in the challenge lean toward the GOP, either with a majority of Republican [...]
Insurance Firm Sues CPA for $5.7 Million
An insurance company claims that relying on false financial statements has cost it $5.7 million. Travelers Casualty & Surety Co. of America has filed a federal lawsuit against the CPA, H. Neal Privitt of Little Rock, who provided the financial statements in an attempt to recover the money. Travelers was the surety bonding company for [...]
ASIAN-BASED IGATE’S Q3 NET INCOME UP 60% AT US$14.3 MLN
US-based, Indian-focused IT outsourcing firm iGATE on Wednesday said its net income jumped by 60.67 per cent to US$14.3 million in the quarter ended September 30, 2010. The company, which earns 80 per cent of its revenue from North American markets, had registered a net income of $8.9 million in the third quarter last year. [...]
Yangchao Quit as China Life Insurance Chairman
June 8th, 2011 
gary China life insurance Company Ltd (601628.SH; 02628.HK) issued an announcement on June 3 after market close, saying that its chairman Yang Chao asked to resign from the company’s chairman of board and executive director for his age at board meeting on the day, and got approved. The announcement went on that the board had elected [...]
China Social Security Program to Cover Foreign Workers
June 8th, 2011 gary Foreign workers in China will participate in China’s social security program from July 1 this year, individual monthly payment nearly CNY 1,300. Ministry of Human Resources and Social Security of the P.R.C. is now draft supporting regulations. Statistics show there are totally 231,700 foreigners working in China with foreigner employment certificates. Foreign security participants must [...]
Shanghai Chengtou, Ping An Ink Social Security Housing Bond
May 16th, 2011 gary Shanghai Chengtou Holding Co., Ltd. and Ping An Insurance (Group) Company of China Ltd. on May 13 signed an agreement to jointly launch a social security housing bond investment plan to raise not more than CNY 3 billion, which will be used to fund the former’s social security housing project in Shanghai. This is the [...]
Social Security Fund May Be PICC Group Strategic Investor
May 16th, 2011 gary The People’s Insurance Company of China Group (PICC Group), a leading insurance conglomerate in the nation, is said to settle down the matters on the introduction into strategic investors although there is no specific time for an overall listing. PICC Group Chairman and President Wu Yan said on May 13, 2011 his group will disclose [...]
A fare fight for taxi drivers at Port Canaveral
May 16th, 2011 gary Pat Barnett has been a taxi driver at Port Canaveral nearly 18 years, shuttling cruise ship passengers back and forth to local hotels and Orlando International Airport. The 67-year-old Barnett is deeply proud of the care and money she puts into her taxi, a silver 1997 Mercury Grand Marquis. The work is not overly difficult, [...]
Zheshang P&C to Enter Shanghai Market
May 13th, 2011 gary Zheshang Property and casualty insurance Co., Ltd. (Zheshang P&C) has formally entered Shanghai market, in an effort to branch out into the whole nation. As planned, the registered capital of the Hangzhou-based non-life insurer will be added to CNY 2 billion this year. In addition, insiders disclosed that the property insurer has already opened 10 [...]
Manulife-Sinochem Opens Branch in Xiamen
May 13th, 2011 gary Manulife-Sinochem life insurance Co. Ltd., one of the joint venture life insurance firms in China, opened a branch in Xiamen, a major city in Fujian province, southeast China, on May 10. The branch, set up by Manulife-Sinochem after those in Guangdong, Shenzhen, and Fujian, marks the Sino-foreign life insurance joint venture’s further expansion in the [...]
