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Georgia-Pacific to close Emporia mill, cutting 550+ jobs

Georgia-Pacific will permanently close its Emporia plywood mill, cutting 550 jobs. The shutdown deals another economic blow to Southern Virginia.

Virginia Tech’s president defends NIH research funding

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Strategy reports $4.2B Q1 loss

Strategy, formerly MicroStrategy, posted a $4.2B Q1 loss but now holds 553,555 bitcoins worth $51.55, continuing its aggressive crypto strategy.

Industries

General Dynamics submarine designers to strike on May 18 if contract deal isn’t reached

Electric Boat shipyard workers in Connecticut plan a May 18 strike if no contract deal is reached, demanding higher wages and restored pension benefits.

Real Estate

FILE - A "For Sale" sign is displayed in front of a home in Des Plaines, Ill., Monday, Aug. 26, 2024. (AP Photo/Nam Y. Huh, File)

Northern Virginia home listings surged 63% in March over 2024

Northern Virginia home listings jumped 63% in March, far outpacing national trends as job cuts hit the region. Experts weigh in on what's behind the spike.

Money

Wall Street extends its gains to a 9th straight day, reclaiming losses since tariff escalation

Wall Street marks its longest win streak since 2004 as job growth beats forecasts and optimism grows over easing U.S.-China trade tensions.

Government

U.S. Sen. Tim Kaine spoke April 30, 2025 on the Senate floor. Photo courtesy Office of Tim Kaine

Senate blocks Kaine-sponsored bid to stop Trump’s tariffs

Senate Republicans block a resolution cosponsored by U.S. Sen. Tim Kaine to halt Trump’s global tariffs, highlighting GOP divides and rising economic concerns.

People

Brad Cornelius, CEO of Farm Credit of the Virginias. Photo courtesy Farm Credit of the Virginias

Farm Credit of Virginias CEO to retire

Brad Cornelius will retire in late 2025 after leading Farm Credit of the Virginias for five years. He grew the cooperative's loan portfolio to $2.3B and 12,500 customer-owners.

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 - 11:30 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

Details coming soon!

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

Kohl’s ousts CEO Buchanan after investigation into some vendor transactions

Weak GDP report tied to tariffs has Trump trying to blame Biden on the state of the economy

US inflation cools and Americans step up spending as they brace for tariff impact

Wall Street bounces back from an early loss as volatility continues

Major companies face a difficult task in estimating the impact of tariffs on their business

US consumer confidence plunges to lowest in 5 years on tariff worries

Wall Street’s rally fades as more CEOs talk about uncertainty because of Trump’s trade war

Retailers misjudge shopper priorities, loyalties amid rising costs, said Rakuten report

A See's Candy worker restocks the display next to a cutout of Warren Buffett at the Berkshire Hathaway shareholders meeting exhibit hall Friday, May 2, 2025 in Omaha, Neb. (AP Photo/Josh Funk)

Buffett says US shouldn’t use ‘trade as a weapon’ as Trump has done with tariffs

Warren Buffett criticizes Trump’s tariffs, urges global trade, and shares insights on markets, succession plans, and Berkshire’s $347B cash reserves.

Home ownership further out of reach as rising prices, high mortgage rates widen affordability gap

U.S. homebuyers now need $114K+ income to afford a median-priced home. High mortgage rates and rising prices keep ownership out of reach for many.

U.S. adds 177K jobs despite trade war, hiring slows

U.S. employers added 177,000 jobs in April, beating expectations. Labor market remains resilient despite trade wars, tariffs, and federal job cuts.

A for sale sign with a home in the background

Average rate on a US 30-year mortgage eases to 6.76%, its second straight weekly decline

U.S. mortgage rates dipped to 6.76%, offering slight relief to buyers, but high costs and rising home prices continue to dampen spring housing activity.

Microsoft and Meta Platforms lead Wall Street higher

Microsoft and Meta beat earnings expectations, boosting Wall Street, even as fears of stagflation and economic uncertainty continue to loom.

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Opinion

Our View: Trump charts chaotic course in trade wars

Constructing change

Why let Big Tech destroy our climate?

Our View: Making Virginia grate again

Best at Work Insights: Employees’ happiness is overrated

Trump-led DEI crackdown may leave glass ceilings intact

Return to uncertainty

What a difference a debate makes

Tanveer Kathawalla, founder and managing partner of Pioneer1890, based in Alexandria. Photo courtesy Tanveer Kathawalla

I voted for Trump. His tariff exclusions don’t reflect conservative strength

Alexandria business founder Tanveer Kathawalla writes in an op-ed that President Donald Trump's tariffs project decline and harm industry and the nation's ability to reduce federal debt.

Mary Baldwin University President Jeff Stein. Photo courtesy MBU

Getting full value out of college from day one

Mary Baldwin University's president writes in an op-ed that for too long, the traditional college model has delayed the real payoff — deferring meaningful mentorship, skills-building and career direction until a student’s final semesters.

Ocean freight outlook 2025: tariffs, crisis fuel chaos

Ocean freight faces uncertainty in 2025 due to Red Sea crisis, U.S.-China tariffs, and overcapacity from new vessels and shifting port strategies.

Elon Musk’s memo exposes a trust crisis in leadership

Musk’s memo sparked debate, but the real issue isn’t accountability — it’s a lack of trust, clarity, and communication in modern workplace culture.

President Donald Trump speaks with reporters as he participates in a ceremonial swearing in of Paul Atkins as chairman of the Securities and Exchange Commission, in the Oval Office of the White House, Tuesday, April 22, 2025, in Washington. (AP Photo/Alex Brandon)

Trump’s tariffs echo Hoover-era economic missteps

Trump's 2025 tariffs trigger market turmoil, drawing comparisons to Hoover's Depression-era policies and warnings from economists and business leaders.

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