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UPS to cut 20,000 jobs as it pulls back from Amazon
United Parcel Service is looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the amount of Amazon shipments it handles. The package delivery company said Tuesday that it anticipates making the job cuts this year. It anticipates closing 73 leased and owned buildings by the end of June. [[...]
Amazon’s HQ2 hiring falls short of 2024 target
Amazon's HQ2 in Arlington has hired 7,232 workers — below its 2024 goal. Since 2018, Amazon has made more than $2.5 billion in capital investment at HQ2.
Connolly says this will be his last term in Congress
U.S. Rep. Gerry Connolly announced Monday that he will be stepping back as ranking Democratic member of the U.S. House of Representatives' Oversight Committee and that this will be his final term in Congress, as his cancer has returned after a brief remission.
Virginia lieutenant governor candidate stays in race, defying Youngkin
In a video posted on X Friday, John Reid, Republican candidate for Virginia's lieutenant governor, called allegations that he posted nude images “a total fabricated internet lie," and defied calls to step down from the race by Gov. Glenn Youngkin.
Averett names next president, to be installed May 1
Averett University announced Friday it will install its next president, Thomas H. Powell, on May 1, after the sudden resignation of its previous president April 11, who cited his wife's serious medical issue as his reason for stepping down.
$264.5M New River rail project gets underway
Gov. Glenn Youngkin, Sen. Tim Kaine and other officials on Thursday broke ground on the long-awaited New River Valley Rail Project in Christiansburg, which will return passenger service to the New River Valley for the first time since 1979.
Estes family donates $15M for William & Mary accounting center
Estes Express Lines' owners donate $15M to William & Mary to create the Estes Center for Excellence in Accounting at the Mason School of Business.
Federal contractor Amentum to sell Rapid Solutions for $360M
Chantilly-based federal contractor Amentum announced Wednesday it has entered into a definitive agreement to sell its hardware and product business, Rapid Solutions, to Fortune 500 aerospace company Lockheed Martin for $360 million.
Henrico-based Elephant Insurance to be sold
The U.K.-based Admiral Group is selling Henrico County-based auto insurer Elephant Insurance to J.C. Flowers & Co., a New York-based private investment firm, according to a Tuesday announcement. The deal is for “an undisclosed cash consideration … representing approximately the net asset value of Elephant,” a news rele[...]
Volvo to lay off 250-350 workers in Pulaski
Volvo plans to lay off 250 to 350 workers at its Pulaski County facility in June, according to John Mies, a spokesperson for Volvo Group North America. Between 300 and 450 employees will also be laid off at the company’s Mack Trucks Lehigh Valley Operations in Pennsylvania and at its Volvo Group Powertrain Operations in [&[...]
The Dow sinks nearly 1,000 points
NEW YORK (AP) — Wall Street weakened Monday as investors worldwide get more skeptical about U.S. investments because of President Donald Trump’s trade war and his criticism of the Federal Reserve, which are shaking the traditional order. The S&P 500 sank 2.4% in another wipeout. That yanked the index that’s[...]
Capital One $35B purchase of Discover Financial gets regulatory approvals
NEW YORK (AP) — The pending merger between Northern Virginia-based Capital One and Discover Financial services received approval from several regulators Friday, bringing the $35 billion tie-up closer to completion. The Federal Reserve and the Office of the Comptroller of the Currency signed off on the deal, which was first an[...]
