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Federal Reserve Chair Jerome Powell speaks during the annual U.S. Monetary Policy Forum, in New York, Friday, March 7, 2025. (AP Photo/Richard Drew),

Federal Reserve keeps interest rate unchanged, sees slower growth, slightly higher inflation ahead

WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though more policymakers forecast fewer cuts. The Fed also now expects the economy to grow more slowly this year and next than it did three months ago, according to a […]

On Feb. 24, 2025, Gov. Glenn Youngkin unveiled Virginia Has Jobs, an initiative to “connect job seekers with opportunities in the commonwealth. Photo courtesy Office of the Governor

While Youngkin celebrates Virginia’s labor force gains, economists warn of future unemployment

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Trump Town owner found not guilty of assault, indecent exposure

A judge Monday found Donald “Whitey” Taylor, owner of Boones Mill’s Trump Town retail store, not guilty of misdemeanor charges of indecent exposure and assaulting three store employees. “It was very rewarding,” Taylor said of the verdict. “These ladies were just looking for money.” Requests for comment from the Franklin County’s Commonwealth’s Attorney and to […]

Industries

Casino groundbreaking

Developers break ground on $1.4B Petersburg casino

Baltimore-based The Cordish Cos. and Virginia Beach developer Bruce Smith Enterprise broke ground Wednesday on the much-anticipated $1.4 billion Live! Casino & Hotel Resort in Petersburg. The mixed-use development’s backers say it will create about 1,400 permanent jobs, increase tourism and generate billions in economic benefit for Virginia. In November 2024, more than 80% of […]

Real Estate

Aerial shot of a neighborhood

Completed home sales decrease in Feb. for NoVa, Hampton Roads

Housing sales in February decreased year-over-year in Northern Virginia and Hampton Roads. Inventory and median selling prices increased in both regions. Northern Virginia Closed sales in Northern Virginia decreased year-over-year in February, according to Northern Virginia Association of Realtors data released March 11. The median home price and active listings rose compared to the same […]

Money

Stock market today: Back down goes Wall Street as Big Tech resumes its slide

NEW YORK (AP) — Wall Street swung back down on Tuesday, and its former superstars once again led the way. The S&P 500 dropped 1.1% for its latest swerve in a scary ride, where it tumbled by 10% from its record and then rallied for two straight days. The Dow Jones Industrial Average fell 260 points, or 0.6%, and the Nasdaq composite sank […]

Government

Earle-Sears has faced tough races before. Her campaign for Virginia governor is no different

RICHMOND, Va. (AP) — Lt. Gov. Winsome Earle-Sears is used to facing formidable obstacles in her political campaigns, and her bid to be Virginia’s next governor is no exception. The Jamaican immigrant, Marine veteran and devout Christian will first need to win the Republican primary in June at a time when her party has been […]

People

A man wearing a tie and a blazer

Kaufman & Canoles names executive director

Chris Smythe has been named executive director of Kaufman & Canoles, the Norfolk-headquartered law firm announced Monday. In the role, Smythe will oversee the day-to-day operations of the firm and report directly to Jason R. Davis, its president and CEO. Previously, Smythe was president of Tycon Medical Systems, a Norfolk home medical equipment and complex […]

Healthcare

BTM Business Connect

Unanet Acquires Beltway Software Firm Contraqer to Help GovCons

Unanet today announced it has acquired Contraqer, a leading provider of market intelligence and procurement software for government contractors. With Contraqer, Unanet adds to its robust growth suite of solutions that help GovCons identify, solicit, manage, and win more business. According to Unanet’s most recent GAUGE Report, 45% of GovCons cite lack of business development […]

Movers & Shakers

EVENTS

C-Suite Awards

June 5th, 2025 - 12:00 AM

The C-Suite Awards celebrate top corporate executives who consistently demonstrate remarkable leadership skills, integrity, values, vision, [...]

Forty Under 40

May 12th, 2025 - 4:30 PM

Virginia Business is pleased to launch its inaugural Forty Under 40 Awards program in 2025!

Best Places to Work in Virginia

March 31st, 2025 - 4:30 PM

Best Places to Work in Virginia is a research-driven program from Best Companies Group that examines your company’s practices, programs an[...]

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Around The Nation

Stock market today: Wall Street holds steadier following weeks of scary swings

Forever No More. Operator of mall staple Forever 21 files for bankruptcy protection

Helicopters permanently restricted on route near Washington airport where 67 died in midair crash

Americans increased spending tepidly last month as anxiety over the economy takes hold

Wall Street rallies to its best day in months, but that’s not enough to salvage its losing week

Trump probes lumber, timber imports for potential tariffs; names furniture as derivative product

FTC reverses its request for a delay in an Amazon trial, says it has resources to litigate the case

Average US rate on a 30-year mortgage edges higher, ending a seven-week slide

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa, file)

Ben & Jerry’s alleges parent company Unilever removed its CEO over social activism

Ben & Jerry’s says its CEO was unlawfully removed by its parent company, Unilever, in retaliation for the ice cream maker’s social and political activism. In a federal court filing late Tuesday, Ben & Jerry’s said Unilever informed its board on March 3 that it was removing and replacing Ben & Jerry’s CEO David Stever. Ben […]

FILE - NASA astronauts Suni Williams, left, and Butch Wilmore stand together for a photo enroute to the launch pad at Space Launch Complex 41 Wednesday, June 5, 2024, in Cape Canaveral, Fla., for their liftoff on a Boeing Starliner capsule to the International Space Station. (AP Photo/Chris O'Meara, File)

NASA astronauts Butch Wilmore and Suni Williams return to Earth after 9 months stuck in space

CAPE CANAVERAL, Fla. (AP) — Stuck in space no more, NASA astronauts Butch Wilmore and Suni Williams returned to Earth on Tuesday, hitching a different ride home to close out a saga that began with a bungled test flight more than nine months ago. Their SpaceX capsule parachuted into the Gulf of Mexico in the early evening, just hours after departing the International Space […]

Pentagon is cutting up to 60,000 civilian jobs. About a third of those took voluntary resignations

WASHINGTON (AP) — Roughly 50,000 to 60,000 civilian jobs will be cut in the Defense Department, but fewer than 21,000 workers who took a voluntary resignation plan are leaving in the coming months, a senior defense official told reporters Tuesday. To reach the goal of a 5% to 8% cut in a civilian workforce of more […]

Google to buy cybersecurity firm Wiz for $32B in largest deal in company’s history

SAN FRANCISCO (AP) — Google has struck a deal to buy cybersecurity firm Wiz for $32 billion in what would be the tech giant’s biggest-ever acquisition at the same time it’s facing a potential breakup of its internet empire. The proposed takeover announced Tuesday is part of Google’s aggressive expansion into cloud computing during an artificial intelligence boom. The […]

Furniture manufacturer shuts down Canadian operations, moves production to N.Carolina

DELTA, British Columbia — Canadian ready-to-assemble furniture supplier Prepac has reportedly shut down its manufacturing operations in Delta, British Columbia, shifting all production to its facility in North Carolina instead. According to Unifor, the union that represents Prepac’s workers, tariffs are to blame. More than 170 workers will be laid off. “Our union has been […]

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Opinion

What a difference a debate makes

In defense of UVA Health’s leaders

A BridgeTower to the future

Commentary: Va. ecosystem supports growth

Virginia’s fundamentals remain strong after unsuccessful arena competition

To support a more inclusive workforce, Va. lawmakers must unite around this bill

2024 Big Book intro: Invasion of the bots!

Why Alexandria’s new entertainment district is everyone’s business

Why let Big Tech destroy our climate?

As the globe struggles to meet current climate goals, a new threat is emerging. The threat is coming from Big Tech companies like Apple, Microsoft, Amazon, Alphabet (Google) and Meta (Facebook). Together, these companies represent a sector that dominates the market. At $3.6 trillion, Apple is now seven times the size of ExxonMobil, the nation’s […]

Elon Musk holds a chainsaw handed to him by Argentine President Javier Milei, behind, at the Conservative Political Action Conference (CPAC) in Oxon Hill, Maryland, Feb. 20, 2025. (AP Photo/Jose Luis Magana)

Our View: Making Virginia grate again

For the state where the United States was born and the roots of the American Revolution were planted (see editor’s note below), it’s an ironic fact that Virginia is heavily dependent on the largesse of the federal government. The state’s so-called “Golden Crescent” — the prosperous corridor running roughly along interstates 95 and 64 from […]

Best at Work Insights: Employees’ happiness is overrated

Do we worry too much about how happy employees are? I lead Best Companies Group, a research and advisory firm focused on helping organizations create high-engagement and high-performance cultures, and I certainly believe so. If anything, I think caring about employees’ happiness is overrated. Let me explain. Employee engagement levels have been dropping for years. […]

During a Jan. 30, 2025 White House news conference, U.S. President Donald Trump blamed federal diversity and inclusion promotion efforts for the mid-air crash between American Airlines and a military helicopter over the Potomac River. (Photo by Chen Mengtong/China News Service/VCG via AP )

Trump-led DEI crackdown may leave glass ceilings intact

In the “Mad Men” era of the 1960s and 1970s, when my mother was climbing the corporate ladder at C&P Telephone, she was frequently the only woman at out-of-state national technical trainings for managers. And from her recollection, if the men in the classes weren’t hitting on her, many were resentful or threatened by her […]

Return to uncertainty

In the wake of the Federal Reserve lowering interest rates by half a percentage point in September, the stock market has been setting records, hiring numbers are trending strong, and the inflation rate has been slowly edging downward. Nevertheless, many businesses — and workers — seem to be in a state of anxious uncertainty, awaiting […]

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