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Mar 12, 2025

Whistleblowers in Sentara insurance investigation revealed

UPDATED MARCH 18 The U.S. District Court for the Western District of Virginia has unsealed a whistleblower complaint against Sentara Health that accused the Hampton Roads health care system of improperly inflating local insurance rates in 2018 and 2019. On Feb. 14, the court revealed the plaintiffs are Sara Stovall, Ian Dixon an[...]

Mar 11, 2025

Virginia Supreme Court to hear appeal of reversal of $2B judgment for Appian

The Supreme Court of Virginia has agreed to hear a petition from software company Appian, asking to reinstate a 2022 judgment worth about $2.04 billion in a trade secrets verdict against a competitor. It’s the latest turn in the battle between Appian, which is based in Fairfax County’s McLean area, and rival Pegasyst[...]

Suffolk-based TowneBank plans to acquire Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus. Photo by AdobeStock
Mar 11, 2025

$120M TowneBank-Village Bank acquisition approved by state, FDIC

Suffolk-based TowneBank’s $120 million acquisition of Midlothian’s Village Bank and Trust Financial Corp. has been approved by the FDIC and the Virginia State Corporation Commission, clearing the way for a completed deal in early April, the two banks said Tuesday. Announced in September 2024, the combined bank, which[...]

Trump Tower is seen on Fifth Avenue in Manhattan, New York City. (Photo by Jimin Kim / SOPA Images/Sipa USA)(Sipa via AP Images)
Mar 10, 2025

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 Tr[...]

Mar 7, 2025

Va. looks to produce more ‘middle-skilled’ workers

When Tennessee-based Microporous officials visited Virginia in 2022 to scout locations for a new plant, Danville leaders took them to local public schools. That might seem like an unusual field trip, but choosing the right site for a manufacturing operation is not as simple as picking a plot of land anymore, says Julie Brown, vi[...]

GreenCity rendering courtesy Henrico County
Mar 5, 2025

Henrico sends default notices to $2.3B GreenCity project developers

Updated March 10 The $2.3 billion GreenCity development in Henrico County appears to be in jeopardy, unless developers make an overdue payment by the end of the week. Henrico County has sent two notices of default — one in regard to the property purchase agreement and one relating to the development agreement — to the [&hell[...]

Mar 3, 2025

Leadership: The Virginia Power 50 List

What does power mean? How do you determine who wields more than others? How can you measure an intangible but very real force? In our annual list of the 50 most powerful leaders in Virginia, we set out to do just that, considering the number of employees an executive leads, personal wealth and other metrics.  […]

Feb 28, 2025

New $230M chocolate factory coming to Frederick County

Frederick County may not have won the golden ticket to Willy Wonka’s chocolate factory, but it may have snagged something even better — a chocolate facility of its own. Gov. Glenn Youngkin announced Friday that Wisconsin chocolate manufacturer Clasen Quality Chocolate will invest $230 million to build a new production fa[...]

A Capital One sign in front of a glass-paneled building
Feb 27, 2025

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 [...]

Feb 26, 2025

UVA Health CEO resigns, effective immediately

Dr. Craig Kent resigned as the CEO of UVA Health on Tuesday, following a closed-session meeting of the University of Virginia Board of Visitors earlier in the day. A letter to UVA Health faculty and staff says that Kent “offered, and President Ryan accepted, his resignation” after the meeting, when board members and [...]

Feb 25, 2025

Fed should be cautious amid uncertainty, Barkin says

Although inflation is coming down, the Federal Reserve Bank should exercise caution amid economic and geopolitical uncertainty, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Tuesday while addressing a Rotary Club of Richmond meeting. The economy is in a good place, Barkin said, citing the 2.5% growth in the [...]

Feb 24, 2025

Youngkin announces resources to support federal workers

Amid federal workers facing the threat of layoffs, Virginia Gov. Glenn Youngkin announced on Monday that Virginia has 250,000 jobs open across various industries and unveiled an initiative to help connect the state’s workforce to these positions. Tens of thousands of workers have been fired under President Donald TrumpR[...]

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