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Wall Street tumbles after Trump escalates his trade war
NEW YORK (AP) — Wall Street’s sell-off hit a new low Thursday after President Donald Trump’s escalating trade war dragged the S&P 500 more than 10% below its record, which was set just last month. A 10% drop is a big enough deal that professional investors have a name for it — a “correction” — and the S&P 500’s 1.4% slide on […]
Speyside Bourbon Cooperage in Smyth lays off 75 workers
Speyside Bourbon Cooperage in Atkins will lay off 75 employees at the end of April due to slowdowns in the bourbon industry, according to a Worker Adjustment and Retraining Notification (WARN) letter dated Feb. 28. Speyside plans to end second-shift production and third-shift maintenance at the Smyth County facility. Laid-off workers may be recalled “as […]
Judge orders Trump to reinstate probationary workers let go in mass firings across multiple agencies
SAN FRANCISCO (AP) — A federal judge in San Francisco ordered President Donald Trump‘s administration to rehire thousands, if not tens of thousands, of probationary workers let go in mass firings across multiple agencies, blasting their tactics Thursday as he slowed the new president’s dramatic downsizing of the federal government. U.S. District Judge William Alsup said that [&hell[...]
Feds to consider ‘compelling offers’ for real estate
The Trump administration’s push to sell federal office buildings across the nation appears to be far from dead. A revised version of the “non-core” federal properties list is being prepared, a spokesperson for the General Services Administration, the federal property management agency, stated on Monday. “We anticipate the list will be republished in the near […]
Trump family business sues Capital One for closing accounts in 2021
Just after Capital One escaped a federal watchdog lawsuit that was suddenly dropped last month, it’s back in legal hot water, this time courtesy of President Donald Trump‘s family business. On March 7, multiple entities connected with the Trump Organization sued the McLean-based bank for terminating more than 300 Trump Organization bank accounts following the Jan. […]
Trump 2.0 could impact state business climate
For millennials and hipper Gen X-ers, here’s a question: Are you feeling like the “This is fine” dog in the burning kitchen? And for the Boomers, can we offer you the image of a frog sitting in a pot of quickly heating water? Even if neither image makes sense, this much is clear: There’s a […]
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 […]
Federal watchdog reverses course, drops Capital One lawsuit
The Consumer Financial Protection Bureau reversed course Thursday and dropped a federal lawsuit against McLean-headquartered Capital One and its parent company, Capital One Financial, which alleged the companies cheated millions of consumers out of more than $2 billion in interest payments. The U.S. government’s watchdog charged with protecting consumers from financial institutions filed a [...]
VCU Health resumes gender-affirming care for existing patients, following U.Va. decision
VCU Health and the Children’s Hospital of Richmond at VCU announced Tuesday that the system will resume gender-affirming medical treatments for people under 19 if they are existing patients, but the system will not offer gender-affirming surgeries or medically treat new young patients. VCU Health and UVA Health suspended all gender-affirming medical care for patients […]
U.Va. board votes to continue gender-affirming care for existing patients under 19
During a Feb. 21 special meeting, the University of Virginia’s board of visitors voted for UVA Health to continue providing gender-affirming treatment to people under 19, but only to current patients. New patients will instead be referred to “alternative private providers” until further notice. Also, the BOV — a 17-member board named by Virginia’s governors […]
U.Va. board to meet over gender-affirming care dispute
The University of Virginia’s Board of Visitors — now controlled by members appointed by Gov. Glenn Youngkin — has scheduled a Feb. 21 special meeting to discuss UVA Health’s decision to resume gender-affirming medical care for patients under the age of 19. The university-affiliated health system suspended treatments in late January after a federal executive […]
HII’s CEO doesn’t expect major defense spending cuts under Trump
President Donald Trump‘s suggestion last week that he could cut U.S. defense spending in half spooked the stock market — but the CEOs of Virginia’s Huntington Ingalls Industries and Science Applications International Corp. are taking Trump‘s statement in stride. Thursday afternoon, Trump said, “One of the first meetings I want to have is with President […]
