Category: Business

Categories
Business

Enzychem Lifesciences announces positive results for Phase 2 U.S. study of EC-18 in chemoradiation-induced oral mucositis

– EC-18 Reduces the Duration and Incidence of Severe Oral Mucositis in Head and Neck Cancer Patients

– Debilitating and Painful Side Effect of Chemoradiation Can Interrupt Treatment Regimen Schedule

 

ENGLEWOOD CLIFFS, N.J. — (BUSINESS WIRE) — #CRIOM—Enzychem Lifesciences (KOSDAQ: 183490) announced today positive Phase 2 results from a U.S. clinical trial of its lead candidate EC-18 in chemoradiation-induced oral mucositis (CRIOM). EC-18, a novel, first-in-class, small molecule oral immunomodulator, reduced the duration and incidence of severe oral mucositis in patients with head and neck cancer undergoing concurrent chemoradiation therapy.

CRIOM is a painful and debilitating side effect of chemoradiation in which patients experience severe mouth ulcerations that significantly impacts everyday activities, such as eating, swallowing, and talking. The pain from severe ulcerations can prevent a patient’s intake of solid food and fluids, leading to malnutrition and dehydration that requires hospitalization. Patients with the most severe form of oral mucositis often have to discontinue or modify their cancer treatment.

 

“Severe CRIOM affects almost 75% of patients being treated with concomitant chemoradiation for head and neck cancers with symptoms that are so severe that they challenge a patients’ ability to tolerate optimal treatment,” said Dr. Stephen Sonis, Professor, Harvard School of Dental Medicine and Key Advisor for the U.S. Phase 2 CRIOM Study. “Despite its frequency and burden it places on patients and their caregivers, there is no approved pharmaceutical intervention. The results observed with EC-18 support its continued development and offer encouragement as an effective CRIOM therapy.”

 

“We are delighted to announce these positive results from our Phase 2 U.S. study, which confirm that EC-18 is safe and well-tolerated,” said Ki-Young Sohn, CEO & Chairman, Enzychem Lifesciences. “In addition, EC-18 may have a number of key advantages, including oral route of administration and convenience of use. We are excited to advance this novel candidate into a pivotal study and will also evaluate EC-18 for other radiation-induced inflammatory diseases.”

 

The Phase 2 U.S. study evaluated EC-18 in oral mucositis in patients with concomitant chemo-irradiation (standard fractionated Intensity-Modulated Radiation Therapy with cisplatin) for cancers of the mouth, oropharynx, hypopharynx and nasopharynx. In Stage 1 of the study, 24 subjects were randomized to receive one of three doses of EC-18 (500 mg, 1000 mg, or 2000 mg; unit dose of 500 mg) or placebo. For Stage 2 of the study, 81 patients were randomized to receive either placebo or 2000 mg of EC-18 twice-daily over a period of approximately 7 weeks.

 

EC-18 successfully met both its primary and secondary endpoints in terms of efficacy and safety in the Phase 2 U.S. study. Patients on EC-18 reported a reduction in the duration of severe oral mucositis (SOM) through a short-term follow-up period from 13.5 days to 0 day (100% reduction) in comparison to the placebo arm. EC-18 also reduced the incidence of SOM through completion of radiation by 37.1% in comparison to the placebo arm (65% vs. 40.9%). The incidence of SOM through a short-term follow-up period was reduced by 35.1% in comparison to the placebo arm (70% vs. 45.5%). No serious adverse events (SAE) were reported between placebo and EC-18 groups and none of the SAEs were related to EC-18. Safety was also comparable across arms with all adverse events (AEs) attributable to expected chemoradiation-related toxicity. One-year long-term follow-up for tumor outcomes is ongoing.

 

Based on positive Phase 2 data, Enzychem plans to file for Breakthrough Therapy Designation to the FDA later this year, and advance EC-18 into a global Phase 3 clinical program.

 

About Enzychem Lifesciences

Enzychem Lifesciences (KOSDAQ: 183490) is a clinical-stage biopharmaceutical company focused on developing oral small molecule therapies for patients with unmet medical needs in oncology, metabolic and inflammatory diseases. Founded in 1999, the company’s lead compound, EC-18 is an immunomodulator, facilitating the resolution of inflammation and early return to homeostasis. Enzychem is headquartered in South Korea, with operations in the United States. For more information, please visit www.enzychem.com. Follow us on Twitter at @enzychem.

Contacts

Investors / Business Development

Ted Kim

Director of Business Development

ted.kim@enzychem.com

Media

KKH Advisors

Kimberly Ha

kimberly.ha@kkhadvisors.com
917-291-5744

Categories
Business Sports & Gaming

Penn National Gaming completes acquisition of Score Media and Gaming Inc.

– Transaction Creates North America’s Leading Digital Sports Content, Gaming and Technology Company –

 

WYOMISSING, Pa. — TORONTO — (BUSINESS WIRE) — $PENN–Penn National Gaming, Inc. (PENN: NASDAQ) (“Penn National” or the “Company”) today completed its previously announced acquisition of Score Media and Gaming Inc. (“theScore”) for total consideration of approximately U.S.$2.0 billion in cash and stock.

The acquisition of theScore fortifies Penn National’s digital media and gaming strategy, creating a complete one-stop entertainment destination. theScore is the third most popular sports media app in North America and number one in Canada. Adding theScore’s fully integrated media and betting platform and cutting-edge technology will further strengthen Penn National’s existing ecosystem and ability to seamlessly serve its customers. Pairing theScore with Barstool Sports provides Penn National with two of North America’s most powerful and unique sports media assets, with the capabilities to generate best-in-class engagement and enhanced customer acquisition and retention across its media and gaming properties.

 

“We’re excited to be creating this powerful new entertainment flywheel that will provide us with multiple growth channels that transcend our current business verticals,” said Jay Snowden, President and CEO of Penn National Gaming. “We look forward to entering the Canadian gaming market, which represents a compelling new opportunity, and are proud to have John Levy and his family and their entire team bring their best-in-class technology, unique perspective and skill sets to our Penn National family,” concluded Mr. Snowden.

 

John Levy, Chairman and Chief Executive Officer of theScore, commented, “It is a truly exciting time to join Penn National and collaborate with their team to build a highly innovative and first-of-its-kind sports media and gaming company. There is natural alignment between the two companies, and we are perfectly positioned to capitalize on the growing entertainment opportunities across mobile sports media, sports betting and online casino. We believe the combined company is well-positioned to continue growing our business across North America, including the expected opening of sports betting and iGaming in Ontario later this year.”

 

Early Warning Reporting

Immediately prior to the effective date of the transaction, Penn National and its subsidiaries owned an aggregate of 1,666,667 Class A Subordinate Voting Shares of theScore (“Class A Shares”), representing approximately 2.98% of the outstanding shares of theScore (“theScore Shares”) at such time. Under the terms of the transaction, 1317774 B.C. Ltd. (the “Purchaser”), an indirectly wholly owned subsidiary of Penn National, acquired each of the issued and outstanding theScore Shares (other than those held by Penn National and its subsidiaries) for US$17.00 (approximately C$21.04 based on the Bank of Canada’s USD/CAD exchange rate on October 18, 2021, the date prior to the effective date of the acquisition) and either 0.2398 of a share of Penn National common stock (each whole share, a “Penn Share”) or, if validly elected, 0.2398 of an exchangeable share in the capital of the Purchaser (each whole share, an “Exchangeable Share”). The aggregate consideration delivered pursuant to the transaction for theScore Shares (including cash payments in lieu of fractional shares) was US$922,813,176.67 (approximately C$1,141,981,306.13), 12,319,340 Penn Shares and 697,539 Exchangeable Shares. Each whole Exchangeable Share is exchangeable for one whole Penn Share, subject to adjustment. The closing trading price of a Penn Share on NASDAQ on October 18, 2021, the date prior to the effective date of the transaction, was US$77.30 (approximately C$95.66).

 

An early warning report will be filed on SEDAR at www.sedar.com under the theScore’s profile. In order to obtain a copy of the early warning report, please contact Penn National’s Secretary at: (610) 373-2400.

 

The Class A Shares will be delisted from the Toronto Stock Exchange and theScore intends to apply to cease to be a reporting issuer in Canada. The Class A Shares have been suspended from trading and will be delisted from NASDAQ and deregistered under the Securities Exchange Act of 1934 in accordance with applicable law. The Toronto Stock Exchange will disseminate a notice announcing the delisting of the Class A Shares in due course. Registered holders of Class A Shares should send their completed and executed letters of transmittal and related share certificates, if any, to the depository for the transaction, Computershare Investor Services Inc., as soon as possible in order to receive the consideration to which they are entitled under the transaction.

 

In connection with the closing of the acquisition, the Purchaser has obtained an order from the Canadian securities regulatory authorities exempting it from the Canadian continuous disclosure obligations on a basis consistent with the conditions set out in applicable securities law provisions that would otherwise apply to the Purchaser but for the terms of the Exchangeable Shares not providing for voting rights.

 

The amount specified in respect of each Exchangeable Share for the purposes of subsection 191(4) of the Income Tax Act (Canada) shall be C$94.756.

 

About Penn National Gaming

With the nation’s largest and most diversified regional gaming footprint, including 43 properties across 20 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. Penn National’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L’Auberge. Penn National’s wholly-owned interactive division, Penn Interactive Ventures, LLC, operates retail sports betting across its portfolio, as well as online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, Inc. (“Barstool”) whereby Barstool will exclusively promote Penn National’s land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. Penn National’s omni-channel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its over 24 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offerings, experiences, and service levels in the industry. Penn National is a corporation organized under the laws of the Commonwealth of Pennsylvania. The Purchaser, an indirectly wholly owned subsidiary of Penn National, is a British Columbia corporation that was formed in connection with the Arrangement. The head office of the Purchaser and Penn National is located at 825 Berkshire Blvd., Suite 200, Wyomissing, Pennsylvania, 19610.

 

About theScore

theScore empowers millions of sports fans through its digital media and sports betting products. Its media app ‘theScore’ is one of the most popular in North America, delivering fans highly personalized live scores, News stats, and betting information from their favorite teams, leagues, and players. theScore’s sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. theScore also creates and distributes innovative digital content through its web, social and esports platforms. The head office of theScore is located at 500 King Street West, Fourth Floor, Toronto, Ontario, M5V 1L9.

 

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.

 

These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding the expected delisting of theScore Shares from the TSX and NASDAQ and the Company’s digital media and gaming strategy. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the magnitude and duration of the impact of the COVID-19 pandemic on general economic conditions, capital markets, unemployment, consumer spending and the Company’s liquidity, financial condition, supply chain, operations and personnel; (b) the Company may not be able to achieve the anticipated financial returns from the acquisition of theScore due to fees, costs and taxes in connection with the integration of Barstool Sports and theScore; (c) potential adverse reactions or changes to business or regulatory relationships resulting from the announcement or completion of the acquisition; (d) the ability of the Company or theScore to retain and hire key personnel; (e) other factors as discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, each as filed with the U.S. Securities and Exchange Commission; and (f) other factors as discussed in theScore’s Annual Information Form as filed with applicable securities regulatory authorities in Canada and as filed with the U.S. Securities and Exchange Commission, and elsewhere in documents that theScore files from time to time with such securities regulatory authorities in Canada and with the U.S. Securities and Exchange Commission, including its Management’s Discussion & Analysis and Management Information Circular. Neither the Company nor theScore intends to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

Contacts

Investor Relations:

Joseph Jaffoni

JCIR

penn@jcir.com
212-835-8500

General Media Inquiries:

Eric Schippers

SVP, Public Affairs & Government Relations

Penn National Gaming

Eric.Schippers@pngaming.com
610-378-8321

Daniel Sabreen

Vice President, Communications

Score Media and Gaming Inc.

dan.sabreen@thescore.com
917-722-3888 ext. 706

Categories
Business Local News

BIM accelerates digital transformation in the global AEC industry

New study from Dodge Data & Analytics and Autodesk suggests that BIM is the cornerstone of the shift to digital in the AEC industry.

HAMILTON, N.J. — (BUSINESS WIRE)–Architecture, engineering and construction (AEC) is increasingly becoming a data-driven industry, and a new study by Dodge Data & Analytics, conducted in partnership with Autodesk, demonstrates that building information modeling (BIM) is at the heart of that initiative. The findings are featured in the Accelerating Digital Transformation Through BIM SmartMarket Report, which provides a thorough overview of how architects, engineers and contractors are deploying BIM, and how they leverage the data from models and processes to improve decision-making and effectively power integrated digital workflows among project team members.

One of the most important findings of the study is the correlation between the depth of engagement with data-driven BIM processes, the intensity of BIM use (the share of projects on which BIM is used), and the degree to which the benefits of using BIM are experienced.

 

  • For architects and engineers, critical benefits—including business benefits like improved client satisfaction and design quality, risk reduction through increased stakeholder buy-in and reduced errors and rework, and additional meaningful sustainability and operational efficiency benefits—are experienced at a much higher level by those who are highly engaged with BIM.
  • Contractors with a deeper engagement with BIM also experience crucial benefits to a higher degree, including business benefits like improved win rates and increased percentage of successful projects, quality benefits like a reduced number of constructability issues onsite and reduced defects at handover, and many cost control, schedule and safety benefits, compared with those who are less engaged.

 

”The findings of this report are consistent with what we hear directly from our customers: the greater the embrace of BIM, the greater returns they see,” said Amy Bunszel, executive vice president, AEC Design Solutions, Autodesk. “BIM is the foundation of the digital transformation of the industry, from design through operations, and as owners begin to look ahead to a digital twin future, all stakeholders should begin their digital journey now.”

 

The report also suggests that BIM is a critical factor in a company’s larger process of digital transformation. The design and construction industries are continuing to explore the use of data and digital tools to improve the outcomes of projects. The study suggests that BIM is a critical part of the digital transformation journey, with nearly half (47%) of high intensity BIM users approaching or near to achieving the goal of digital transformation, compared with just 26% of BIM users generally.

 

The study also offers insight into where the industry currently stands by providing a benchmark for the use of various digital technologies and approaches in five categories: design intelligence tools, innovative construction methods, jobsite technology, smart building technology and data-sharing technology.

 

  • Among those, the top technologies in use currently among BIM users are cloud computing (42%), model-based simulation (33%), virtual/augmented/mixed reality (28%), 3D printing (25%) and reality capture (25%).
  • Technologies most strongly poised for growth, with a relatively high percentage who expect to adopt them in the next two to three years, include generative/outcome-based design (20%), 3D printing (19%), model-driven prefabrication (18%), model-driven simulation (18%), robotics/automated equipment (18%), reality capture (17%) and AI/machine learning (17%).

 

“This study demonstrates that the data revolution is already underway in design and construction,” says Steve Jones, Senior Director, Industry Insights at Dodge Data & Analytics. “As the industry adopts tools like generative design, machine learning, reality capture and automated vehicles, we can expect to see better performing buildings, more profitable projects, increases in safety and improved efficiency onsite.”

 

The full report includes more detailed data on critical aspects of BIM deployment, like use of the cloud and a common data environment for digital workflows, the means to maximize the return on investment experienced from BIM and team engagement with the use of BIM. In addition, it also features case studies and thought leader perspectives on the future of BIM. The full report is available for free download at www.construction.com.

 

About Dodge Data & Analytics: Dodge Data & Analytics is North America’s leading provider of commercial construction project data, market forecasting, and analytics services and workflow integration solutions for the construction industry. Building product manufacturers, architects, engineers, contractors, and service providers leverage Dodge to identify and pursue unseen growth opportunities that help them grow their business. On a local, regional or national level, Dodge empowers its customers to better understand their markets, uncover key relationships, seize growth opportunities, and pursue specific sales opportunities with success. The company’s construction project information is the most comprehensive and verified in the industry.

 

As of April 15th, Dodge Data & Analytics and The Blue Book — the largest, most active network in the U.S. commercial construction industry — combined their businesses in a merger. The Blue Book Network delivers three unparalleled databases of companies, projects, and people. Dodge and The Blue Book offer 10+ billion data elements and 14+ million project and document searches. Together, they provide a unified approach for new business generation, business planning, research, and marketing services users can leverage to find the best partners to complete projects and to engage with customers and prospects to promote projects, products, and services. To learn more, visit: construction.com and thebluebook.com.

Contacts

Cailey Henderson

104 West Partners

dodge@104west.com

Categories
Business

PGIM Fixed Income announces new head of municipal bond team

NEWARK, N.J. — (BUSINESS WIRE) — PGIM Fixed Income, a global asset manager offering active solutions across all fixed income markets, announced Jason Appleson will assume the role as head of Municipal Bonds effective Jan. 1, 2022 upon the retirement of long-time head of Municipal Bonds Susan Courtney.


Appleson joins the firm on Nov. 1, 2021, having most recently served as portfolio manager for PT Asset Management’s Morningstar five-star rated Performance Trust Municipal Bond Fund (ticker: PTIMX) with $891 million in assets.1 In this role, Appleson led the portfolio construction, management, trading, and research for the fund. Prior to PT Asset Management he spent time at the Federal Reserve Bank of New York as a credit risk associate, as well as AllianceBernstein as an analyst supporting the firm’s $30 billion municipal fund complex.

 

“Jason brings strong capabilities in municipal bond portfolio management and relative value analysis, as well as proven investment leadership to our municipal bond team. With continued strong flows into the municipal category, Jason’s expertise will prove immediately valuable to our clients who look to municipal bonds as a key part of their fixed income portfolio,” said Richard Greenwood, head of Credit for PGIM Fixed Income.

 

PGIM Fixed Income currently manages more than $31 billion2 in municipal assets. As head of the municipal bond team Appleson will report to Greenwood and be responsible for developing, directing and executing investment strategy for all tax-exempt municipal bond assets, including the municipal bond mutual funds.

 

ABOUT PGIM FIXED INCOME

PGIM Fixed Income, with $954 billion in assets under management as of June 30, 2021, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Amsterdam, Frankfurt, Zurich, Tokyo, Hong Kong, and Singapore. For more information, visit pgimfixedincome.com.

 

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. ( NYSE: PRU), ranks among the top 10 largest asset managers in the world 3 with $1.5 trillion in assets under management as of June 30, 2021. With offices in 17 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

1 As of Sept. 30, 2021.

2 As of June 30, 2021.

3 Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 477 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on May 31, 2021. This ranking represents global assets under management by PFI as of Dec. 31, 2020.

CONNECT WITH US:

pgimfixedincome.com

Join the conversation on Twitter@PGIM

Contacts

MEDIA
Lizzie Lowe

973-802-8786

lizzie.lowe@pgim.com

Ben Jaffe

201-207-0352

ben.jaffe@pgim.com

Categories
Business

PGIM Investments to acquire direct indexing firm Green Harvest Asset Management

Firm expands platform to include customized solutions to meet the complex needs of high-net-worth investors


NEWARK, N.J. — (BUSINESS WIRE) — PGIM Investments announced today that it has entered into an agreement to acquire Green Harvest Asset Management LLC (“Green Harvest”), a separately managed account (SMA) platform providing customized solutions for the complex needs of high-net-worth investors. PGIM, Inc. is the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU) — a top-10 investment manager globally.

 

Green Harvest’s SMA strategies employ a unique approach to direct indexing through the use of exchange-traded funds (ETFs) with the potential to provide clients improved after-tax outcomes.

 

“With markets near all-time highs and potential tax increases on the horizon, understanding the impact of capital gains taxes and implementing strategies focused on after-tax results are critically important for investors, particularly those in the ultra-high-net-worth category,” said Stuart Parker, president and CEO of PGIM Investments. “This acquisition underscores our commitment to meeting the evolving needs of our clients and we are pleased to welcome Green Harvest on board.”

 

Subject to customary closing conditions, the deal is expected to close in the fourth quarter of 2021. Upon completion, Green Harvest will join PGIM Investments’ retail platform, expanding the firm’s wide range of investment solutions and capabilities.

 

“We see tremendous value in combining Green Harvest’s capabilities with the strength and stability of PGIM Investments and look forward to bringing PGIM’s clients personalized solutions to meet their investment objectives,” said Robert Holderith, Green Harvest CEO.

 

Berkshire Global Advisors served as exclusive financial advisor to Green Harvest in this transaction.

 

ABOUT GREEN HARVEST ASSET MANAGEMENT

Green Harvest Asset Management LLC was formed in 2017 by a team of seasoned ETF and asset management experts. Based in New York, the firm specializes in creating and managing ETF portfolios seeking to track U.S., global and custom indices while attempting to maximize after-tax returns. The firm partners with wealth advisors to create and deliver the strategy that is best suited for clients’ needs.

 

ABOUT PGIM INVESTMENTS

PGIM Investments LLC and its affiliates offer more than 100 funds globally across a broad spectrum of asset classes and investment styles. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities, alternatives and real estate.

 

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world1 with approximately $1.5 trillion in assets under management as of June 30, 2021. With offices in 16 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

 

1 Prudential Financial, Inc. (PFI) is the 10th-largest investment manager (out of 477) in terms of global AUM based on the Pensions & Investments Top Money Managers list published on May 31, 2021. This ranking represents assets managed by PFI as of Dec. 31, 2020.

Contacts

MEDIA:

Kylie Scott

+1 973-902-2503

kylie.scott@pgim.com

CONNECT WITH US:
Visit pgim.com
Join the conversation on Twitter@PGIM

Categories
Business

Amazon hiring for 150,000 seasonal jobs to help deliver great holiday experiences

In Colorado the Company has Over 2,000 Seasonal Roles Open

Job seekers can receive an immediate contingent offer for seasonal roles with an average starting pay of $18 per hour, sign-on bonuses up to $3,000 and an additional $3 per hour depending on shifts in many locations, plus the opportunity to transition to long-term careers

Seasonal roles are in addition to previously announced plans to hire over 40,000 new corporate and tech jobs and 125,000 full and part-time fulfillment and transportation jobs

 

DENVER — (BUSINESS WIRE) — Amazon continues to provide diverse employment opportunities for people of all backgrounds and skill levels, announcing today 150,000 seasonal jobs are now available across the U.S. All Amazon jobs in the U.S., including seasonal roles, have an average starting pay of $18 per hour, sign-on bonuses up to $3,000 and an additional $3 per hour depending on shifts in many locations.


“We are proud to be offering a huge range of full-time, part-time, and now seasonal jobs with great pay and benefits,” said Alicia Boler Davis, Senior Vice President, Global Customer Fulfillment. “Our seasonal hiring helps us deliver on our promises to customers while also providing flexibility to our full-time employees during busy periods. Joining Amazon in one of our seasonal roles offers high-paying, part-time work, or a path to a full-time position, with benefits like our Career Choice program to help people advance their education and careers within Amazon or beyond.”

 

Amazon values its seasonal employees, many of whom return each holiday season year-after-year or choose to transition to full-time roles within the company. Seasonal workers are essential to how Amazon delivers for customers, doing important, rewarding work, while earning income flexibility before the end of the year.

 

Jobs in Amazon’s operations network include stowing, picking, packing, shipping and more. New hires will be fully trained and all facilities follow strict COVID-19 health and safety protocols. A job with Amazon can be the start of a future, long-term career inside or outside of the company. Jobs are available in hundreds of cities and towns across America. Interested candidates can see all the regions with open positions at www.amazon.com/apply.

 

Amazon was recently named by LinkedIn as the No. 1 company where Americans want to work and develop their careers. Job advancement and career building is an important focus for the company, and many employees who have been with the company six months or longer have been promoted. Seasonal employees will help support full-time employees across over 250 new fulfillment centers, sortation centers, regional air hubs, and delivery stations that opened in the U.S. in 2021.

 

States with the greatest number of seasonal roles include: Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Maryland, Michigan, Nevada, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, Washington and Wisconsin.

 

Amazon prioritizes the safety and health of its employees and has made major investments in workplace safety. Learn more about working at Amazon here: https://www.amazon.jobs/en/landing_pages/working-at-amazon

 

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

Contacts

Amazon.com, Inc.

Media Hotline

Amazon-pr@amazon.com
www.amazon.com/pr

Categories
Business Regulations & Security

CSC awarded ‘best of’ by New Jersey Law Journal

Ranked #1 in business formation services

 

WILMINGTON, Del. — (BUSINESS WIRE) — CSC is honored to be recognized by New Jersey Law Journal readers as the #1 business formation provider for 2021. CSC has placed in the best business formation award for 10 consecutive years. The award is based solely on the results of magazine reader feedback, who vote on the top vendors serving the nation’s legal industry.

“We’re honored to receive the continued recognition from the New Jersey legal community,” says Jennifer Kenton, CSC executive vice president of Customer Development and Marketing. “We’re committed to going above and beyond for our customers and legal partners. Service is at the center of everything we do, and we’re grateful for our customers’ continued trust and partnership.”

 

When it comes to formation filings for legal business entities, our award-winning filing services make it easy to form new entities in all 50 U.S. states, the District of Columbia, and approximately 120 jurisdictions worldwide.

 

For more than 120 years, companies have chosen CSC as their trusted business partner. We have the tools to streamline complex workflows and improve efficiency. What’s more, we offer stringent data security protocols to protect our customers’ most important assets. CSC invests the time to understand our customers’ businesses and become a true extension of their teams. We’re dedicated to exceeding expectations every time, everywhere.

 

For more information about CSC’s award-winning business and legal solutions, visit cscglobal.com.

 

About CSC

CSC is the world’s leading provider of business, legal, tax, and digital brand services to companies around the globe. From keeping your business in compliance and streamlining operations, to protecting and promoting your brand online, we use our expertise and personal approach to help your business run smoother. We are the business behind business®. We are the trusted partner for 90% of the Fortune 500®, more than 65% of the Best Global Brands (Interbrand®), nearly 10,000 law firms, and more than 3,000 financial organizations. Headquartered in Wilmington, Delaware, USA, since 1899, we have offices throughout the United States, Canada, Europe, and the Asia-Pacific region. We are a global company capable of doing business wherever our clients are—and we accomplish that by employing experts in every business we serve. Are you interested in growing your career with us? Learn what makes us different at cscglobal.com/careers.

Contacts

Laura Crozier

Public Relations Manager

(302) 636-5401 x. 65526

CSC News Room

Categories
Business Local News

BTRS Holdings Inc. to hold third quarter 2021 earnings call on November 10, 2021

LAWRENCEVILLE, N.J. — (BUSINESS WIRE) — BTRS Holdings Inc. (“Billtrust” or “the Company”) (NASDAQ: BTRS), a B2B accounts receivable automation and integrated payments leader, today announced it will discuss its third quarter 2021 financial results on Wednesday, November 10, 2021 at 5:00 pm ET. Hosting the call will be Flint Lane, Founder and Chief Executive Officer, and Mark Shifke, Chief Financial Officer.

The conference call will be webcast live from the investor relations portion of the Company’s website at https://www.billtrust.com/about/investors. A replay will be available on the investor relations website following the call.

 

The conference call can also be accessed live over the phone by dialing 877-407-3982 (toll free) or 201-493-6780 (international). A replay will be available approximately one hour after the call has concluded and can be accessed by dialing 844-512-2921 (toll free) or 412-317-6671 (international); the conference ID is 13724066. The replay will be available through Wednesday November 24, 2021.

 

About BTRS Holdings

Billtrust (NASDAQ: BTRS) is a leading provider of cloud-based software and integrated payment processing solutions that simplify and automate B2B commerce. Accounts receivable is broken and relies on conventional processes that are outdated, inefficient, manual and largely paper based. Billtrust is at the forefront of the digital transformation of AR, providing mission-critical solutions that span credit decisioning and monitoring, online ordering, invoice delivery, payments and remittance capture, invoicing, cash application and collections.

 

For more information, visit Billtrust.com.

Contacts

Investor:

John T. Williams

ir@billtrust.com

Media:

Meredith Simpson

msimpson@billtrust.com

Categories
Business

AM Best assigns credit ratings to Richmond National Insurance Company

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to Richmond National Insurance Company (Richmond National) (Concord, NH). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect Richmond National’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).

 

Richmond National was formed in 2021 and will focus exclusively on the U.S. excess and surplus lines market, writing coverage for a diverse mix of hard-to-place small business risks.

 

Richmond National’s very strong balance sheet strength is supported by its risk–adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), across all confidence intervals in current periods, projected future scores and under stress scenarios. Richmond National’s balance sheet assessment reflects the recent capital raise in support of planned premium growth, the conservative nature in which the investment portfolio will be established and the protection afforded by its comprehensive reinsurance program diversified among highly rated participants. Given the cautious nature in which management plans to grow the business, capital is in place on day one to support the five-year written premium business plan.

 

AM Best assesses Richmond National’s operating performance as adequate based on a clearly defined and practicable business plan, which includes management’s objective to achieve pre-tax operating profitability within the initial five-year period.

 

Richmond National’s business profile assessment is limited given the start-up nature of the organization.

 

Richmond National has developed the framework to establish a strong ERM culture throughout the organization, which AM Best considers appropriate given the scale, scope and complexity of the organization.

 

Positive rating actions are unlikely over the near term. Key factors that could result in negative rating action for Richmond National’s ratings and outlooks include failure to meet mid-term projections as shared with AM Best, particularly if the resulting performance falls short of similarly rated peers.

 

Negative rating actions also could occur should Richmond National’s risk-adjusted capitalization decline to a level that does not support its very strong balance sheet strength assessment.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Gordon McLean
Senior Financial Analyst
+1 908 439 2200, ext. 5304
gordon.mclean@ambest.com

Robert Raber
Director
+1 908 439 2200, ext. 5696
robert.raber@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business

Disruption in service sector favors leaders in health, finance and logistics, PGIM reports

NEWARK, N.J. — (BUSINESS WIRE) — Disruptive technology has a reputation as a giant killer, but the latest technological breakthroughs in the services sector will not bury all of today’s market leaders — they will lift some of these companies to greater heights, according to new research from PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).


Services now represent three-quarters of the workforce in developed markets, two-thirds of global GDP and more than one-third of the typical institutional portfolio. PGIM’s report, Reshaping Services: The investment implications of technological disruption, examines how advances in cloud computing, artificial intelligence (AI), machine learning (ML) and big data are impacting three of the economy’s largest industries: healthcare, finance and logistics.

 

The report draws on the insights of over 70 investment professionals across PGIM’s fixed income, equity, real estate, private credit and alternatives managers — as well as leading academics, technologists, industry analysts and venture investors.

 

The key takeaway? Disruption in these industries — where infrastructure costs are high, client bases are sticky and regulations abound — will increase the dominance of technology-forward incumbents rather than leave the trail of destruction seen in retail and manufacturing.

 

“The COVID-19 pandemic accelerated the development and deployment of new technologies that are radically reshaping winners and losers across the services sector in both developed and emerging markets,” said Taimur Hyat, chief operating officer for PGIM. “At PGIM, we believe long-term investors can get ahead of this transformational phase in the services sector by actively positioning their portfolios to capture the investment opportunities and mitigate the risks from this impending wave of technology-driven disruption.”

 

KEY FINDINGS: THE FUTURE IS WEIGHTLESS IN FINANCIAL SERVICES

Disruptors in financial services are expanding the accessible market for financial firms, but today’s leaders have the opportunity to widen their moat against upstart competitors.

 

  • Neobanks are no threat to big institutions. In the U.S. and Europe, neobanks offer great potential but are largely targeting unbanked and disengaged segments of the market rather than prime consumer and business lending clients that are the bread and butter of established consumer and commercial banks.
  • Robo-advisors have not vanquished traditional wealth managers. Conventional wisdom hailed robo-advisors as a revolution about to transform wealth management. However, this revolution fizzled as early movers in robo-advice lacked an expansive distribution network and found it virtually impossible to scale up to profitability. Instead, incumbent wealth management firms successfully integrated automated models into their own business.
  • Investors should brace for regulatory backlash as it spills over into services. Regulatory and legal uncertainty is common across many aspects of innovative technologies including data privacy, ESG and anti-money laundering. The regulatory environment around startup banks and payment platforms remains unsettled.

 

KEY FINDINGS: HEALTHCARE GETS PERSONAL

Healthcare services has been a notorious laggard in adopting technology, but investors have huge opportunities to tap into a major shift in how healthcare is delivered and administered globally.

 

  • Little opportunity for “winner takes all.” Given the varied circumstances patients face based on their geographic location, individual lifestyle and health risks, healthcare innovators are unlikely to “change the world.” Instead, they are finding relevant niches to disrupt — and often with great success.
  • New technologies provide more personalized care. New wearables track heart rate, exercise levels and sleep patterns, providing patients and doctors with a broader perspective on well-being. Advances in low-cost genetic sequencing are empowering patients to make more personalized decisions about their healthcare. Meanwhile, the testing and diagnostic equipment necessary for this transformation will also thrive.

 

KEY FINDINGS: TRANSPORTATION & LOGISTICS GOES GREEN AND AUTONOMOUS

Transport and logistics are at the early stage for disruption — autonomous vehicles promise to be a major part of our transportation future; in logistics, optimization and efficiency are the focus.

 

  • Automobiles will be greener — but gasoline-powered engines will have a long sunset. Sales of electric vehicles (EV) in many parts of the world are growing rapidly. But the tremendous stock of internal combustion engines (ICE) will have a very long sunset. In 2050, for example, when EVs are projected to make up 60% of annual new car sales, the majority of cars on the road will still be fueled by gasoline.
  • Autonomous vehicle adoption will not evolve in the same way everywhere. Autonomous trucking is likely to emerge first in the U.S., which depends on long-haul trucking for the distribution and transport of goods. But China, where fleets of autonomous robo-taxis are already roaming the streets in elaborate trials, is likely to lead the way in autonomous cars.
  • Global shift to online shopping yields greener logistics. Today, distribution centers are increasingly fueled by renewable energy with solar panels on their expansive roofs, while hydrogen fuel-cell powered forklifts and electric trucks replenish stock in last-mile warehouses for same-day delivery.

 

“Importantly, the hype around innovations like blockchain and autonomous vehicles is way ahead of today’s investable reality. Not all these changes will happen tomorrow — and the long sunset will provide opportunities for investors who can identify the transitional opportunities,” Hyat said. “Companies that will benefit from the necessary build-out of next-generation infrastructure may be a source of hidden gems yet to be unearthed in this market.”

 

For more, visit the microsite for Reshaping Services: The investment implications of technological disruption, the latest in PGIM’s Megatrends series.

 

ABOUT PGIM

PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world1 with approximately $1.5 trillion in assets under management as of June 30, 2021. With offices in 17 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.

 

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

 

1 Prudential Financial, Inc. (PFI) is the 10th largest investment manager (out of 477 firms surveyed) in terms of global assets under management based on Pensions & Investments’ Top Money Managers list published on May 31, 2021. This ranking represents global assets under management by PFI as of Dec. 31, 2020.

CONNECT WITH US:

Visit pgim.com

Join the conversation on Twitter@PGIM

Contacts

MEDIA CONTACTS

U.S. & Asia:
Kylie Scott

+1 973 902 2503

kylie.scott@pgim.com

Europe:
Sharan Kaur

+44 (0)7866154772

sharan.kaur@pgim.com