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New Virginia Beach economic development chief resigns suddenly

Virginia Beach’s new economic development director, Christian Green, resigned Wednesday after serving less than four months in the post.

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Virginia leaders respond to reports of possible FBI academy move from Quantico

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Virginia casinos report $85.4M in May revenue

May gaming revenues from Virginia’s three casinos totaled $85.39 million, according to a June 13 report from the Virginia Lottery.

Industries

Closeup of a young man in a furniture factory who puts together one part of the sofa with a stapler. AdobeStock photo

Hooker restructuring targets $25M savings by FY27

Hooker Furnishings launches restructuring to cut $25M in fixed costs by FY27, closing warehouses and expanding overseas operations for savings.

Real Estate

Real Estate and Construction: Stagnant with some silver linings

Housing sales decline in NoVa, Hampton Roads

Housing sales last month decreased year-over-year in Northern Virginia and Hampton Roads, although inventory and median sales prices rose.

Money

Israel-Iran conflict fuels oil surge, economic fears grow

Israel-Iran conflict fuels oil surge, economic fears grow

Israel’s attack on Iran Friday has catapulted their long-running conflict into what could become a wider, more dangerous regional war and potentially drive prices higher for both businesses and households. Oil and gold surged and the dollar rose as markets retreated, signaling a flight to investments perceived as more safe. After years of sky-high inflation in the aftermath […]

Government

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Army official says Chinese mineral shortage could impact military equipment

A growing shortage of rare minerals, magnets and metals from China needed for manufacturing military warfighting equipment could lead to the Department of Defense's accessing and sending out military equipment from a stockpile.

People

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Hubbard Peanut Co. names new CEO

Southampton County-based Hubbard Peanut Co. announced Tuesday that it has appointed Marshall Rabil as its new president and CEO.

Healthcare

BTM Business Connect

Unanet Acquires Beltway Software Firm Contraqer to Help GovCons

Unanet Acquires Beltway Software Firm Contraqer to Help GovCons

Unanet today announced it has acquired Contraqer, a leading provider of market intelligence and procurement software for government contractors. With Contraqer, Unanet adds to its robust growth suite of solutions that help GovCons identify, solicit, manage, and win more business. According to Unanet’s most recent GAUGE Report, 45% of GovCons cite lack of business development […]

Movers & Shakers

EVENTS

C-Suite Awards

Details coming soon!

The C-Suite Awards celebrate top corporate executives who consistently demonstrate remarkable leadership skills, integrity, values, vision, [...]

Forty Under 40

Details coming soon!

Virginia Business is pleased to launch its inaugural Forty Under 40 Awards program in 2025!

Best Places to Work in Virginia

Details coming soon!

Best Places to Work in Virginia is a research-driven program from Best Companies Group that examines your company’s practices, programs an[...]

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Around The Nation

U.S. jobless claims steady amid trade war uncertainty

Trump to block California’s gas car ban, emissions rules

Trump EPA moves to repeal climate rules that limit greenhouse gas emissions from US power plants

Disney and Universal sue AI firm Midjourney for copyright infringement

Trump’s FAA administrator pick facing tough questions on safety at hearing

Inflation barely rose last month as cheaper gas and cars offset some costlier imports

Atlantic Shores moves to exit New Jersey offshore wind project

U.S. and China continue trade talks in London

Oil prices jump 7% as Israel-Iran conflict spooks markets

Oil prices jump 7% as Israel-Iran conflict spooks markets

  NEW YORK (AP) — Oil prices are leaping, and stocks are falling Friday on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy. The S&P 500 dropped 1.2% and was on track to wipe out its modest gains […]

Consumer sentiment rises in june after six-month slump

Consumer sentiment rises in june after six-month slump

  WASHINGTON (AP) — Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and the Trump administration has reached a truce in its trade fight with China. The preliminary reading of the University of Michigan’s closely […]

JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs

JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs

GREENSBORO, N.C. (AP) — JetZero Inc. announced plans Thursday to build its first manufacturing plant for a next-generation passenger jet in central North Carolina, a project that if successful would create more than 14,500 jobs there in a decade. The California-based startup intends to build the factory at Greensboro’s airport, investing $4.7 billion. The planned […]

FILE - The Boeing logo is displayed at the company's factory Tuesday, Sept. 24, 2024, in Renton, Wash. (AP Photo/Lindsey Wasson, File)

A look at Boeing’s recent troubles after Air India crash

The crash of a Boeing 787 passenger jet in India minutes after takeoff on Thursday is putting the spotlight back on a beleaguered manufacturer though it was not immediately clear why the plane crashed. The Air India 787 went down in the northwestern city of Ahmedabad with more than 240 people aboard shortly after takeoff, authorities said. […]

Billy Long confirmed as IRS chief despite past opposition

Billy Long confirmed as IRS chief despite past opposition

WASHINGTON (AP) — Former U.S. Rep. Billy Long of Missouri was confirmed on Thursday to lead the Internal Revenue Service, giving the beleaguered agency he once sought to abolish a permanent commissioner after months of acting leaders and massive staffing cuts that have threatened to derail next year’s tax filing season. The Senate confirmed Long […]

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Opinion

Ocean freight outlook 2025: tariffs, crisis fuel chaos

Elon Musk’s memo exposes a trust crisis in leadership

Trump’s tariffs echo Hoover-era economic missteps

Our View: Trump charts chaotic course in trade wars

Constructing change

Why let Big Tech destroy our climate?

Our View: Making Virginia grate again

Best at Work Insights: Employees’ happiness is overrated

Virginia Republican candidate for lieutenant governor John Reid posted a video April 25, 2025, saying that he would stay in the race despite Gov. Glenn Youngkin's demand that he resign from the ticket.

OurView: Nothing new under the sun in Virginia politics

In late April, GOP lieutenant governor candidate John Reid posted a highly atypical campaign video on X. His political enemies within the party, Reid alleged, were staging a “coordinated character assassination attempt to force [him as] the first openly gay candidate off the Republican statewide ticket.” Gov. Glenn Youngkin, Reid said, had asked him to […]

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Bad managers drive away talent

When you manage people, you don’t just oversee productivity — you hold careers, livelihoods and psychological well-being in your hands. The data doesn’t lie, and neither do the millions who’ve weighed in on what constitutes leadership worth following. Fact: 69% of U.S. workers would rather clean toilets at a bus station than report to a […]

In this photo provided by the U.S. Navy, Hospital Corpsman 1st Class Garion Pequeno reunites with his family after departing the USS Cole on Monday, Dec. 23, 2024, at Naval station Norfolk after a deployment. (Mass Communication Specialist Seaman Mark Peña/U.S. Navy via AP)

Let us honor Virginia’s military through educational opportunities

Today, we write to call on our leaders to continue investing in pathways that serve military families, keep them in Virginia, and strengthen Virginia’s economic future. The Virginia Military Survivors and Dependents Education Program — or VMSDEP — provides in-state tuition waivers to the spouses and children of service members who were disabled or killed in the line of duty.

Tanveer Kathawalla, founder and managing partner of Pioneer1890, based in Alexandria. Photo courtesy Tanveer Kathawalla

I voted for Trump. His tariff exclusions don’t reflect conservative strength

Alexandria business founder Tanveer Kathawalla writes in an op-ed that President Donald Trump's tariffs project decline and harm industry and the nation's ability to reduce federal debt.

Mary Baldwin University President Jeff Stein. Photo courtesy MBU

Getting full value out of college from day one

Mary Baldwin University's president writes in an op-ed that for too long, the traditional college model has delayed the real payoff — deferring meaningful mentorship, skills-building and career direction until a student’s final semesters.

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