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US stocks drift near their record following an encouraging inflation update
U.S. stocks hover near record highs as May inflation data eases concerns over Trump tariffs. Investors watch for broader U.S.-China trade deal progress.
Molina Healthcare to close Henrico office, laying off 268 workers
Molina Healthcare, a Fortune 500 company that manages health care services for Medicaid and Medicare recipients, is closing its Henrico County office and laying off 268 workers.
Fed’s Fifth District expands slightly amid uncertainty
The Fifth District economy saw mild growth, with mixed hiring, rising import costs, and steady consumer spending despite economic uncertainty.
Trump speaks with Xi amid stalled talks between the US and China over tariffs
U.S. President Donald Trump and Chinese leader Xi Jinping spoke amid stalled tariff negotiations that have roiled global trade.
Old Dominion Job Corps to lay off 130 in Amherst
Amherst County-based Old Dominion Job Corps Center will lay off 130 people on June 30.
Trump tells US steelworkers he’s going to double tariffs on foreign steel from 25% to 50%
WEST MIFFLIN, Pa. (AP) — President Donald Trump said Friday that he’s doubling the tariff rate on steel to 50%, a dramatic increase that could further push up prices for a metal used to make housing, autos and other goods. Trump spoke at U.S. Steel’s Mon Valley Works–Irvin Plant in West Mifflin, Pennsylvania, near Pittsburgh […]
Appeals court allows Trump to continue collecting tariffs under an emergency powers law for now
A federal appeals court is allowing President Donald Trump to continue collecting tariffs under an emergency powers law for now.
Booz Allen CEO says 7% of employees to be laid off
McLean-based Fortune 500 management consulting business Booz Allen Hamilton will lay off 7% of its 35,800-employee workforce, mainly in its civil division, Chairman, CEO and President Horacio Rozanski said Friday during an earnings call.
Stocks, bonds and the dollar drift after the latest downgrade to US government’s credit rating
NEW YORK (AP) — After recovering from an initial jolt, U.S. stocks, bonds and the value of the U.S. dollar drifted through a quiet Monday following the latest reminder that the U.S government may be hurtling toward an unsustainable mountain of debt. The S&P 500 edged up by 0.1% after Moody’s Ratings became the last of the […]
DHS says it is canceling $2.4B Leidos contract
According to a court filing last week, the U.S. Department of Homeland Security has terminated a $2.4 billion IT and cybersecurity contract awarded to Reston-based federal contractor Leidos last year.
Leesburg firm lays off 155 after Navy cancels $170M contract
Leesburg-based data company Pantheon Data this week laid off 155 workers — including 33 Virginia employees — after the U.S. Navy canceled its $170 million service contract with the company on May 12.
Trump trade war faces legal challenge as businesses, states argue his tariffs exceeded his power
Trump's sweeping tariffs under emergency powers face lawsuits from states and businesses arguing he overstepped constitutional authority on trade.
