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FTC fines Capital One CEO for failing to file stock transaction
The Federal Trade Commission fined McLean-based Capital One Financial Corp. CEO Richard Fairbank a $637,950 civil penalty for violating antitrust laws in finalizing stock acquisitions, the FTC announced Thursday. The settlement must be approved by the U.S. District Court for the District of Columbia. The FTC alleged that Fairban[...]
VEDP launches Supply Chain Optimization Program
The Virginia Economic Development Partnership launched its Supply Chain Optimization Program, Gov. Ralph Northam announced Wednesday. The one-year program is designed to help Virginia businesses streamline their supply chain management. Participating businesses could receive a maximum of $10,000 in reimbursements for supply chai[...]
Virginia sports betting dropped to $162M in July
Virginians bet $161.9 million in July but won $141.94 million, according to data released Wednesday by the Virginia Lottery. Virginia sports betting wagers now total more than $1.48 billion since the state legalized sports betting in mid-January. In June, the state reaped about $234.9 million in gross revenue from sports betting[...]
CNU poll: McAuliffe leads Youngkin by 9 points
Former Virginia Gov. Terry McAuliffe and down-ballot Democratic candidates have significant leads over GOP gubernatorial candidate Glenn Youngkin, former co-CEO of The Carlyle Group, and the state Republican ticket, according to a survey of 800 likely voters released Thursday by Christopher Newport University’s The Wason Cente[...]
Virginia ABC reports $1.4B in FY 2021 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) reported $1.4 billion in gross revenue for fiscal year 2021, up $163 million over the previous fiscal year. It’s the third year in a row the state authority has surpassed $1 billion. As a division of state government, ABC sends its profits — $616.4 million — to th[...]
VCU poll shows McAuliffe, Youngkin in dead heat
The Republican and Democratic candidates for Virginia governor are in a virtual tie, a new poll by the L. Douglas Wilder School of Government and Public Affairs at Virginia Commonwealth University reported Friday. Democratic former Gov. Terry McAuliffe is polling ahead at 40%, while Republican Glenn Youngkin, former co-CEO of Th[...]
July jobless rate hits 4.2% in Va., a small decrease
In July, the state’s unemployment rate saw a small decline to 4.2%, 0.1 points below June’s rate, Gov. Ralph Northam announced Friday. In July 2020, the jobless rate was at 7.9%, 3.7 points higher than last month. Virginia continued to see an expansion of the labor force, with 7,818 people starting jobs last month, totaling […]
Va. is ready to deploy COVID vaccine booster doses
As COVID cases are on the rise again, driven by the delta variant of the coronavirus, the Virginia Department of Health has begun administering third COVID-19 vaccine doses to immunocompromised people and is ready to expand third-dose booster vaccinations to more Virginia residents on Sept. 20, the target date set by the federal[...]
Va. new jobless claims rose 62% last week
Virginia’s initial unemployment claims rose by 62% last week since the previous week, the Virginia Employment Commission reported Thursday. For the filing week ending Aug. 14, the state recorded 16,593 new jobless claims, up 6,367 from the previous week. Continued claims totaled 35,081, up 3,342 claims from the previous week. [...]
Alexandria’s SPA lands $185M contract for Defense Threat Reduction Agency
Alexandria-based Systems Planning and Analysis Inc. (SPA) has signed a contract with the Defense Threat Reduction Agency, the company announced Tuesday. The $185 million contract will be for research, development, test and evaluation subject matter expertise advisory and assistance support, according to a news release from SPA. The work will be performed at Fort Belvoir, […]
Va. new jobless claims top 10K, a dramatic rise
Virginia’s initial unemployment claims rose by 67% this week, while continued claims continued to decrease, the Virginia Employment Commission reported Thursday. The state saw the nation’s second largest increase in initial claims. For the filing week ending Aug. 7, the state recorded 10,226 new jobless claims, up 4,197 [...]
VDH officials expect more workplaces to mandate vaccines
More workplaces will likely require employees to be vaccinated once the Food and Drug Administration provides full licensure of the Pfizer vaccine, expected in September, Dr. Danny Avula, the state’s vaccine coordinator, said Tuesday at a Virginia Department of Health media briefing. “COVID is not going to go away after [...]
