Please ensure Javascript is enabled for purposes of website accessibility

New Virginia Beach economic development chief resigns suddenly

Virginia Beach officials confirmed that the city’s new director, , resigned Wednesday after serving less than four months in the post.

Green’s marks the second time in a row ‘s economic development director has departed after a short tenure. Deputy City Manager Amanda Jarratt, once again, is serving in the interim role, the city said in a statement Thursday.

“Christian Green put in his notice of resignation on June 11; specific details are not available to the public as this is a personnel matter in accordance with HR policy,” the city said in its statement. “We can confirm, in collaboration with Mr. Green, that he elected to resign from his position due to pressing family matters. Christian is leaving on good terms with the City, and we wish him well in his future endeavors.”

Virginia Beach City Council Member Barbara Henley said the city will likely do a national search for a new economic development director.

“I want someone who’s very energetic, particularly about the issues that we’re looking at in Virginia Beach now with sports tourism; that’s my particular area of interest,” Henley said. “And you know, I really want someone who’s going to be able to help us move these things forward.”

Henley said she didn’t have too many interactions with Green during his brief tenure with the city, although he attended one of her monthly forums. To her understanding, she said, Green’s departure was due to family issues.

Green came aboard from Georgia, where he was director of economic development for the city of Stonecrest, on Feb. 24, and replaced Charles E. “Chuck” Rigney, who resigned from the job in July 2024. In an August 2024 article in The Virginian-Pilot, Rigney said he requested an audited review following questions about travel expenses.

Rigney had previously served as interim director for about eight months after the departure of Taylor Adams, who left in 2023 to take an economic development job in Nevada.

Adams became economic development director in 2018 (initially in interim capacity), after his longtime predecessor Warren Harris abruptly resigned amid an audit of his spending of city funds. The Pilot reported that a Virginia Beach Circuit Court grand jury indicted Harris in 2019, and in 2021 he pled guilty to four counts of felony embezzlement.

According to The Pilot, in February 2022, Harris received a suspended jail sentence, not having to serve time in jail, but being required to repay the nearly $80,000 he wrongly charged taxpayers on a city credit card. He had largely used the money on extravagant meals and trips and other personal expenditures.

U.S. jobless claims steady amid trade war uncertainty

SUMMARY:

  • unchanged at 248,000 for the week ending June 7
  • Total unemployment benefits recipients rise to 1.96 million
  • Claims remain high, reflecting uncertainty over trade wars
  • Analysts had predicted a slight drop in new claims

WASHINGTON (AP) — U.S. filings for jobless benefits were unchanged last week, remaining at the higher end of recent ranges as uncertainty over the impact of trade wars lingers.

New applications for jobless benefits numbered 248,000 for the week ending June 7, the Labor Department said Thursday. Analysts had forecast 244,000 new applications.

A week ago, there were 248,000 jobless claim applications, which was the most since early October and a sign that layoffs could be trending higher.

Weekly applications for jobless benefits are considered representative of U.S. layoffs and have mostly bounced around a historically healthy range between 200,000 and 250,000 since COVID-19 throttled the economy five years ago, wiping out millions of jobs.

However, the past three weeks, layoffs have been at the higher end of that range, raising some concern from analysts.

“There are early warning signs in the labor market,” said Navy Federal Credit Union’s chief economist, Heather Long. “If layoffs worsen this summer, it will heighten fears of a recession and consumer spending pullback.”

In reporting their latest earnings, many companies have either trimmed their sales and profit expectations for 2025 or not issued guidance at all, often citing President Donald ‘s dizzying rollout of tariff announcements.

Though Trump has paused or dialed down many of his tariff threats, concerns remain that a tariff-induced global economic slowdown could sabotage what’s been a robust U.S. labor market.

Chair Jerome Powell has said the potential for both higher unemployment and are elevated, an unusual combination that complicates the central bank’s dual mandate of controlling prices and keeping unemployment low. Powell said that have dampened consumer and business sentiment.

In early May, the Federal Reserve held its benchmark lending rate at 4.3% for the third straight meeting after cutting it three times at the end of last year.

Last week, the Labor Department reported that U.S. employers slowed their hiring in May, but still added a solid 139,000 jobs despite uncertainty over Trump’s trade wars.

In a separate report last week, Labor reported that U.S. job openings rose unexpectedly in April, but other data suggested that Americans are less optimistic about the labor market.

The report showed that the number of Americans quitting their jobs — a sign of confidence in their prospects — fell, while layoffs ticked higher. In another sign the job market has cooled from the hiring boom of 2021-2023, the government reported one job for every unemployed person. As recently as December 2022, there were two vacancies for every jobless American.

The government has estimated that the shrank at a 0.2% annual pace in the first quarter of 2025, a slight upgrade from its first estimate. Growth was slowed by a surge in imports as companies in the U.S. tried to bring in foreign goods before Trump’s massive tariffs went into effect.

Trump is attempting to reshape the global economy by dramatically increasing import taxes to rejuvenate the U.S. manufacturing sector. The president has also tried to drastically downsize the federal government workforce, but many of those cuts are being challenged in the courts and Congress.

On Wednesday, Google confirmed that it had offered buyouts to another swath of its workforce in a fresh round of cost-cutting ahead of a court decision that could order a breakup of its internet empire.

Other companies that have announced job cuts this year include Procter & Gamble, Workday, Dow, CNN, Starbucks, Southwest Airlines, Microsoft and Facebook parent company Meta.

The government’s report on Thursday also showed that the four-week average of jobless claims, which evens out some of the weekly ups and downs during more volatile stretches, rose by 5,000 to 240,250.

The total number of Americans receiving unemployment benefits for the week of May 31 jumped by 54,000 to 1.96 million, the most since November of 2021.

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

WASHINGTON (AP) — President Donald is expected to sign a measure Thursday that blocks California’s first-in-the-nation rule banning the sale of new gas-powered cars by 2035, a White House official told The Associated Press.

The resolution Trump plans to sign, which Congress approved last month, aims to quash the country’s most aggressive attempt to phase out gas-powered cars. He also plans to approve measures to overturn state policies curbing in certain vehicles and -forming from trucks.

The timing of the signing was confirmed Wednesday by a White House official who spoke on condition of anonymity to share plans not yet public.

The development comes as the Republican president is mired in a clash with California’s Democratic governor, , over Trump’s move to deploy troops to Los Angeles in response to immigration protests. It’s the latest in an ongoing battle between the and heavily Democratic California over everything from to the rights of LGBTQ+ youth and funding for electric vehicle chargers.

“If it’s a day ending in Y, it’s another day of Trump’s war on California,” Newsom spokesperson Daniel Villaseñor said in an email. “We’re fighting back.”

According to the White House official, Trump is expected to sign resolutions that block California’s rule phasing out gas-powered cars and ending the sale of new ones by 2035. He will also kill rules that phase out the sale of medium- and heavy-duty diesel vehicles and cut tailpipe emissions from trucks.

The president is scheduled to sign the measures and make remarks during an event at the White House on Thursday morning.

Newsom, who is considered a likely 2028 Democratic presidential candidate, and California officials contend that what the federal government is doing is illegal and said the state plans to sue.

Transportation Secretary Sean Duffy, Energy Secretary Chris Wright and Environmental Protection Agency Administrator are expected to attend, along with members of Congress and representatives from the energy, trucking and gas station industries.

The signings come as Trump has pledged to revive American auto manufacturing and boost oil and gas drilling.

The move will also come a day after the Environmental Protection Agency proposed repealing rules that limit greenhouse gas emissions from power plants fueled by coal and natural gas. Zeldin said it would remove billions of dollars in costs for industry and help “unleash” American energy.

California, which has some of the nation’s worst air pollution, has been able to seek waivers for decades from the , allowing it to adopt stricter emissions standards than the federal government.

In his first term, Trump revoked California’s ability to enforce its standards, but President Joe Biden reinstated it in 2022. Trump has not yet sought to revoke it again.

Republicans have long criticized those waivers and earlier this year opted to use the Congressional Review Act, a aimed at improving congressional oversight of actions by federal agencies, to try to block the rules.

That’s despite a finding from the U.S. Government Accountability Office, a nonpartisan congressional watchdog, that California’s standards cannot legally be blocked using the Congressional Review Act. The Senate parliamentarian agreed with that finding.

California, which makes up roughly 11% of the U.S. car market, has significant power to sway trends in the auto industry. About a dozen states signed on to adopt California’s rule phasing out the sale of new gas-powered cars.

The National Automobile Dealers Association supported the federal government’s move to block California’s ban on gas-powered cars, saying Congress should decide on such a national issue, not the state.

The American Trucking Associations said the rules were not feasible and celebrated Congress’ move to block them.

Chris Spear, the CEO of the American Trucking Associations, said in a statement Wednesday: “This is not the United States of California.”

It was also applauded by Detroit automaker General Motors, which said it will “help align emissions standards with today’s market realities.”

“We have long advocated for one national standard that will allow us to stay competitive, continue to invest in U.S. innovation, and offer customer choice across the broadest lineup of gas-powered and electric vehicles,” the company said in a statement.

Dan Becker with the Center for Biological Diversity, in anticipation of the president signing the measures, said earlier Thursday that the move would be “Trump’s latest betrayal of democracy.”

“Signing this bill is a flagrant abuse of the law to reward Big Oil and Big Auto corporations at the expense of everyday people’s health and their wallets,” Becker said in a statement.

Wall Street drifts as Oracle rallies and Boeing sags

SUMMARY:

  • S&P 500 gains 0.2%, nearing all-time high
  • shows wholesale prices cooler than expected
  • Fed rate cut expectations grow despite weak jobless data
  • Oracle stock climbs after strong earnings and growth forecast

NEW YORK (AP) — U.S. stock indexes are drifting on Thursday following another encouraging update on .

The S&P 500 was 0.2% higher in midday trading and sitting less than 2% below its record. The Industrial Average was down 18 points, or less than 0.1%, as of 11 a.m. Eastern time, and the composite was 0.2% higher.

Oracle pushed upward on the market after jumping 13.2%. The tech giant delivered stronger profit and revenue for the latest quarter than analysts expected, and CEO Safra Catz said it expects revenue growth “will be dramatically higher” in its upcoming fiscal year.

That helped offset a 5.6% loss for Boeing after Air India said a London-bound flight crashed shortly after taking off from Ahmedabad airport Thursday with 242 passengers and crew onboard. The Boeing 787 Dreamliner crashed into a residential area near the airport five minutes after taking off. The cause of the crash wasn’t immediately known.

Stocks were broadly getting some help from easing Treasury yields in the bond market following the latest update on inflation. Thursday’s said inflation at the wholesale level wasn’t as bad last month as economists expected, and it followed a report on Wednesday saying something similar about the inflation that U.S. consumers are feeling.

Wall Street took it as a signal that the will have more leeway to cut later this year in order to give the economy a boost.

The Federal Reserve has been hesitant to lower interest rates, and it’s been on hold so far this year after cutting at the end of last year, because it’s been waiting to see how much President Donald ‘s will hurt the economy and raise inflation. While lower rates can goose the economy by encouraging businesses and households to borrow, they can also accelerate inflation.

The yield on the 10-year Treasury fell to 4.38% from 4.41% late Wednesday and from roughly 4.80% early this year.

Besides the inflation data, a separate report on also helped to weigh on Treasury yields. It said slightly more U.S. workers applied for unemployment benefits last week than economists expected, and the total number remained at the highest level in eight months.

“We believe that were it not for the uncertainty caused by the tariffs, the combined information coming from the inflation and labor-market data would have compelled the Fed to have resumed cutting its policy rate by now,” according to Thierry Wizman, a strategist at Macquarie.

The Fed’s next meeting on interest rates is scheduled for next week, but the nearly unanimous expectation on Wall Street is that it will stand pat again. Traders are betting it’s likely to begin cutting in September, according to data from CME Group.

Trump’s on-and-off tariffs have raised worries about higher inflation and a possible recession, which sent the S&P 500 roughly 20% below its record a couple months ago. But stocks have since rallied nearly all the way back on hopes that Trump would lower his tariffs after reaching trade deals with other countries.

Many of Trump’s tariffs are on hold at the moment to give time for negotiations, but Trump added to the uncertainty late Wednesday when he suggested the United States could send letters to other countries at some point “saying this is the deal. You can take it or you can leave it.”

In stock markets abroad, indexes were mixed across Europe and Asia amid mostly modest movements. Hong Kong’s Hang Seng was an outlier, and it tumbled 1.4% to give back some of its strong recent gains.

Hong Kong’s index is still up nearly 20% for the year so far, towering over the the U.S. ‘s gain of less than 3%.

___

AP Writers Matt Ott, Elaine Kurtenbach and Seung Min Kim contributed.

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

SUMMARY:

  • proposes to eliminate greenhouse gas limits on coal, gas plants
  • Mercury and toxic pollutant regulations also face weakening
  • Administrator says rollback will save trillions, boost energy
  • Environmental groups condemn the move and plan challenges

WASHINGTON (AP) — The Environmental Protection Agency on Wednesday proposed repealing rules that limit planet-warming greenhouse gas emissions from power plants fueled by coal and , an action that Administrator Lee Zeldin said would remove billions of dollars in costs for industry and help “unleash” American energy.

The EPA also proposed weakening a regulation that requires power plants to reduce emissions of mercury and other toxic pollutants that can harm the brain development of young children and contribute to heart attacks and other health problems in adults.

The rollbacks are meant to fulfill Republican President Donald ‘s repeated pledge to “ unleash American energy ” and make it more affordable for Americans to power their homes and operate businesses.

If approved and made final, the plans would reverse efforts by Democratic President Joe Biden’s administration to address climate change and improve conditions in areas heavily burdened by industrial pollution, mostly in low-income and majority Black or Hispanic communities.

The power plant rules are among about 30 that Zeldin targeted in March when he announced what he called the “most consequential day of deregulation in American history.”

Zeldin said Wednesday the new rules would help end what he called the Biden and Obama administrations’ “war on so much of our U.S. domestic energy supply.”

“The American public spoke loudly and clearly last November,” he added in a speech at EPA headquarters. “They wanted to make sure that … no matter what agency anybody might be confirmed to lead, we are finding opportunities to pursue common-sense, pragmatic solutions that will help reduce the cost of living … create jobs and usher in a golden era of American prosperity.”

Environmental and public health groups called the rollbacks dangerous and vowed to challenge the rules in court.

Dr. Lisa Patel, a pediatrician and executive director of the Medical Society Consortium on Climate & Health, called the proposals “yet another in a series of attacks” by the on the nation’s “health, our children, our climate and the basic idea of clean air and water.”

She called it “unconscionable to think that our country would move backwards on something as common sense as protecting children from mercury and our planet from worsening hurricanes, wildfires, floods and poor air quality driven by climate change.”

“Ignoring the immense harm to public health from power plant pollution is a clear violation of the ,” added Manish Bapna, president and CEO of the Natural Resources Defense Council. “If EPA finalizes a slapdash effort to repeal those rules, we’ll see them in court.”

The EPA-targeted rules could prevent an estimated 30,000 deaths and save $275 billion each year they are in effect, according to an Associated Press examination that included the agency’s own prior assessments and a wide range of other research.

It’s by no means guaranteed that the rules will be entirely eliminated — they can’t be changed without going through a federal rulemaking process that can take years and requires public comment and scientific justification.

Even a partial dismantling of the rules would mean more pollutants such as , mercury and lead — and especially more tiny airborne particles that can lodge in lungs and cause health problems, the AP analysis found. It would also mean higher emissions of , driving Earth’s warming to deadlier levels.

Biden, a Democrat, had made fighting climate change a hallmark of his presidency. Coal-fired power plants would be forced to capture smokestack emissions or shut down under a strict EPA rule issued last year. Then-EPA head Michael Regan said the power plant rules would reduce pollution and improve public health while supporting a reliable, long-term supply of electricity.

The power sector is the nation’s second-largest contributor to climate change, after transportation.

In its proposed regulation, the Trump EPA argues that carbon dioxide and other greenhouse gases from fossil fuel-fired power plants “do not contribute significantly to dangerous pollution” or climate change and therefore do not meet a threshold under the Clean Air Act for regulatory action. Greenhouse gas emissions from coal and gas-fired plants “are a small and decreasing part of global emissions,” the EPA said, adding: “This Administration’s priority is to promote the public health or welfare through energy dominance and independence secured by using fossil fuels to generate power.”

The Clean Air Act allows the EPA to limit emissions from power plants and other industrial sources if those emissions significantly contribute to air pollution that endangers public health.

If fossil fuel plants no longer meet the EPA’s threshold, the Trump administration may later argue that other pollutants from other industrial sectors don’t either and therefore shouldn’t be regulated, said Meghan Greenfield, a former EPA and Justice Department lawyer now in private practice at Jenner & Block LLP.

The EPA proposal “has the potential to have much, much broader implications,” she said.

Zeldin, a former New York congressman, said the Biden-era rules were designed to “suffocate our economy in order to protect the environment,” with the intent to regulate the coal industry “out of existence” and make it “disappear.”

National Mining Association president and CEO Rich Nolan applauded the new rules, saying they remove “deliberately unattainable standards” for clean air while “leveling the playing field for reliable power sources, instead of stacking the deck against them.”

But Dr. Howard Frumkin, a former director of the National Center for Environmental Health and professor emeritus at the University of Washington School of Public Health, said Zeldin and Trump were trying to deny reality.

“The world is round, the sun rises in the east, coal- and gas-fired power plants contribute significantly to climate change, and climate change increases the risk of heat waves, catastrophic storms and many other health threats,” Frumkin said. “These are indisputable facts. If you torpedo regulations on power plant greenhouse gas emissions, you torpedo the health and well-being of the American public and contribute to leaving a world of risk and suffering to our children and grandchildren.”

A paper published earlier this year in the journal Science found the Biden-era rules could reduce U.S. power sector carbon emissions by 73% to 86% below 2005 levels by 2040, compared with a reduction of 60% to 83% without the rules.

“Carbon emissions in the power sector drop at a faster rate with the (Biden-era) rules in place than without them,” said Aaron Bergman, a fellow at Resources for the Future, a nonprofit research institution and a co-author of the Science paper. The Biden rule also would result in “significant reductions in sulfur dioxide and nitrogen oxides, pollutants that harm human health,” he said.

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

SUMMARY:

• FBI leaders are considering relocating from to Alabama, according to news reports

• Virginia Democrats quickly issue statements opposing move

• says he’s talking with federal leaders to ensure Quantico remains the centerpiece of FBI training.

• The 10-week training program serves U.S. and international enforcement officials

Virginia’s Democratic leaders were quick to protest Wednesday to a report that the FBI’s leaders are proposing a plan to move the Federal Bureau of Investigation’s National Academy from Quantico to Huntsville, Alabama.

The Washington Post broke the story Wednesday afternoon about the 10-week training program for local, federal and international law enforcement officials that’s held on the FBI’s campus in .

Former , the state’s Democratic nominee for governor, promptly responded with a call rallying all of Virginia’s leaders to stand united against an effort to move the academy from Quantico, which is located about 36 miles from Washington, D.C.

“As a former federal law enforcement officer and CIA case officer, I worked alongside FBI agents to keep our country safe,” she said in a statement. “I know the pride they take in serving their country and training America’s law enforcement officers. And as a former member of Congress who represented Quantico, I know the impact this will have on the community.”

U.S. Sen. Katie Britt, R-Alabama, hosted FBI Director Kash Patel along with her fellow Alabama U.S. Sen. Tommy Tuberville, another Republican, for a tour of the FBI’s facilities in Huntsville in April. According to The Washington Post, FBI Deputy Director Dan Bongino is leading the effort to move the academy.

Although it takes place at the same location as the FBI Academy for new FBI agents, famously depicted in “The Silence of the Lambs” and other movies and TV shows, the FBI National Academy is a different program held four times a year for law enforcement officers from local jurisdictions across the country, as well as police from 176 countries, according to the FBI.

More than 56,000 officers have graduated from the 10-week program. They receive training on behavioral science, forensics, communications, terrorism and intelligence theory, among other areas.

, Virginia’s junior Democratic senator, reminded the on Wednesday that Congress controls the power of the purse.

“This is part of a larger effort by the administration to dramatically politicize, reduce and relocate the ,” Kaine said in a statement. “If Director Patel and Deputy Director Bongino want to move the FBI Academy, then they will have to explain to Congress and the American public why this is needed and how much it will cost.”

U.S. Sen. Mark Warner, who is vice chairman of the Senate Intelligence Committee, added that he expects members of Congress to be skeptical of the plan.

“Quantico is co-located with other critical FBI and national security assets, and before we spend taxpayer dollars on a disruptive and potentially unnecessary move, the Bureau owes Congress and the American people a clear justification for this plan,” he said in a statement.

U.S. Rep. Eugene Vindman, a Democrat who represents part of Prince William County and succeeded Spanberger in January, stressed that the proposal raises important questions that Congress will have to answer.

“Virginia’s Seventh District is home to Quantico’s state-of-the-art facility and remains the best place for local and state law enforcement to learn from our incredible agents at the FBI,” he said in a statement. “As a former prosecutor, I know that the most efficient and impactful way for law enforcement to continue keeping our communities safe is to train at the world-class facilities that have already been built by taxpayers at Quantico.”

In a statement provided Wednesday evening, Gov. Glenn Youngkin called Quantico “the best place to train America’s FBI.” “I am speaking with leadership at the FBI and [the U.S. Department of Justice] to make sure Quantico remains the centerpiece of FBI training now and in the future,” he added.

, who’s running as Virginia’s Republican candidate for governor, did not immediately respond to a request for comment.

Founded in 1972 in Prince William County, the FBI’s Quantico complex occupies 547 acres on the U.S. Marine Corps Base Quantico. New FBI agents are trained at the facility, along with Drug Enforcement Administration agents, local and state law enforcement officers and members of elite units like SWAT teams and hostage-rescue teams.

Along with classrooms and firing ranges, Quantico includes an aquatic training center for diving practice and a mock town where agents prepare for real-life dangerous situations.

Editor’s note: This story has been updated. 

Housing sales decline in NoVa, Hampton Roads

SUMMARY:

  • Closed home sales declined year-over-year in both and in May, but the month saw increases in pending sales.
  • Median home prices rose in both regions — up 3.9% to $789,500 in Northern Virginia and up 4.7% to a record $368,900 in Hampton Roads.
  • Inventory levels surged, with active listings up 50% in Northern Virginia and 23.7% in Hampton Roads, giving buyers more options and longer decision-making time.

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

Northern Virginia

The reports that 1,764 homes were sold in May, a 4.2% decrease compared with May 2024. The total sales volume for the month was $1.56 billion, down 1% from May of last year.

However, reports that despite the decline in sales, the median sale price rose 3.9% to $789,500.

May 2025 housing market statistics for Northern Virginia. Image Courtesy Northern Virginia Association of Realtors

“We’re seeing a market that’s finding its footing,” NVAR CEO Ryan McLaughlin said in a statement. “Transaction volume has cooled modestly, which isn’t unexpected given broader economic headwinds and buyer sensitivity to . At the same time, price appreciation and rising inventory are signs that the market remains fundamentally sound — just adjusting to a new rhythm.”

New pending sales in May rose 9.5% to 1,897 units compared to May 2024.
The association reports that active listings surged to 2,636 units in May, up 50% from the same time last year. New listings totaled 1,884 units, up 1.5%.

Homes spent an average of 15 days on the market last month — a 40% increase from May 2024.

“A growing number of listings means buyers now have more choices — and time to make them,” McLaughlin said in a statement. “But this isn’t necessarily a return to a buyer’s market. Sellers who price competitively are still seeing strong results, especially in Northern Virginia’s most desirable neighborhoods.”

The association believes rising interest rates, affordability concerns and a cooling pace “compared to the frenzied highs of previous years” places buyers and sellers in a more strategic playing field.

“Buyers may have more leverage, but affordability remains a concern for many,” said NVAR board member Christina Rice in a statement. “Sellers are still in a good position but may need to adjust expectations on timing and pricing. It’s not an easy market — it’s a smarter one. The key is working with experienced professionals who understand how to navigate it.”

NVAR reports home sales activity for Fairfax and counties, the cities of , Fairfax and Falls Church, and the towns of , Herndon and Clifton.

Hampton Roads

Hampton Roads also saw a slight decrease in housing sales for May, although its median selling price reached a record high, according to data released Tuesday by the Information Network (REIN).

In May, 2,445 home sales closed in the region, up from 2,193 in April, but down 2.1% from 2,498 in May 2024. There were 2,582 pending sales for the month, down from 2,597 pending transactions in April, but up 5.9% from 2,438 at the same time last year.

May’s months supply of inventory (MSI) — a measure of how many months there would be homes on the market if no new inventory were added — was 2.59, compared with 2.44 in April and 2.07 in May 2024

“After quite a few years of a very tight market, consumers who are looking to buy a home this summer should be very pleased with the selection they have right now,” said REIN board President Barbara Wolcott of Berkshire Hathaway Home Services RW Towne Realty in a statement. “Inventory is also at its highest point in nearly five years, so buyers have plenty of homes to choose from.”

May 2025 housing market data for Hampton Roads. Image Courtesy Real Estate Information Network

Active listings rose to 5,276 in May, up 23.7% year-over-year from 4,264 in May 2024. There were 4,980 active listings in April. Wolcott said May’s active listings were the most since July 2020, when there were 5,576.

“Here in Hampton Roads, it’s still not technically a balanced market, but buyers certainly have more selection than they’ve had in quite some time,” she said.

The median sales price of homes sold during May was $368,900, up from $350,000 in April, and up 4.7% year-over from $352,392 in May 2024. The MSP is a 2.2% increase over the previous high of $360,000 during June of last year. Homes spent a median of 18 days on the market in May, one day less than April’s 19, but three days more than May 2024 when it was 15.

Founded in 1969, REIN is a regional multiple listing service that covers an area stretching from east to Virginia Beach and south across the North Carolina border.

Disney and Universal sue AI firm Midjourney for copyright infringement

SUMMARY:

  • and Universal sue over -generated images.
  • Studios allege violations involving Star Wars, Minions.
  • claims Midjourney ignored takedown requests.

NEW YORK (AP) — Disney and Universal have filed a copyright lawsuit against popular image-generator Midjourney on Wednesday, marking the first time major Hollywood companies have enter the battle over generative AI.

Filed in federal district court in Los Angeles, the complaint claims Midjourney pirated the libraries of the two Hollywood studios to generate and distribute “endless unauthorized copies” of their famed characters, such as Darth Vader from Star Wars and the Minions from Despicable Me.

“Midjourney is the quintessential copyright free-rider and a bottomless pit of plagiarism. Piracy is piracy, and whether an infringing image or video is made with AI or another technology does not make it any less infringing,” the companies state in the complaint.

The studios also claimed the San Francisco-based AI company ignored their requests to stop infringing on their copyrighted works and to take technological measures to halt such image generation.

Midjourney didn’t immediately respond to a request for comment Wednesday.

In a 2022 interview with The Associated Press, Midjourney CEO David Holz described his image-making service as “kind of like a search engine” pulling in a wide swath of images from across the internet. He compared copyright concerns about the technology with how such laws have adapted to human creativity.

“Can a person look at somebody else’s picture and learn from it and make a similar picture?” Holz said. “Obviously, it’s allowed for people and if it wasn’t, then it would destroy the whole professional art industry, probably the nonprofessional industry too. To the extent that AIs are learning like people, it’s sort of the same thing and if the images come out differently then it seems like it’s fine.”

Major AI developers don’t typically disclose their data sources but have argued that taking troves of publicly accessible online text, images and other media to train their AI systems is protected by the “fair use” doctrine of American copyright .

The studio’ case joins a growing number of lawsuits filed against developers of AI platforms — such as OpenAI, Anthropic — in San Francisco and New York.

Meanwhile, the first major copyright trial of the generative AI industry is underway in London, pitting Getty Images against artificial intelligence company Stability AI.

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

SUMMARY:

  • nominee questioned on safety after D.C. crash.
  • Bedford backs tech upgrades but won’t commit to pilot rule.
  • FAA faces criticism for ignoring warnings before fatal collision.

WASHINGTON (AP) — President Donald ‘s pick to lead the Federal Administration is facing tough questions about safety during a hearing Wednesday in the wake of January’s deadly midair collision and a string of other crashes and near misses since then.

Much of the industry, including the major airlines and their trade groups, supports Bryan Bedford’s nomination. But pilots unions and Democrats have raised concerns that he might weaken standards.

Bedford has been CEO of regional airline Republic Airways since 1999 and has more than three decades of experience in the industry. He has pledged to make safety the FAA’s top priority and work to restore public confidence in flying. Bedford also said he’ll work with Congress on Trump’s multi-billion-dollar plan to overhaul the nation’s system.

The National Transportation Safety Board has said the FAA should have acted before the crash in Washington, D.C., because there had been 85 near misses reported around Ronald Reagan National Airport in the years before the disaster. The FAA has since banned some helicopter routes to make sure helicopters and planes no longer share the same airspace, but there have still been additional near misses in recent months.

FAA’s acting administrator and Transportation Secretary Sean Duffy have acknowledged the FAA’s shortcomings in not recognizing the risk and pledged to review all the agency’s data to identify any similar concerns nationwide about helicopter traffic near . That review prompted the agency to put new limits on helicopter flights around Las Vegas’ airport.

Even the air traffic controllers union backed Bedford’s nomination because of his support for the effort to modernize the outdated system and bolster controller hiring. Two different radar outages this spring in a facility that directs planes in and out of Newark Liberty International Airport highlighted the problems because the FAA had to limit flights at the airport after five controllers took trauma leave after the problems.

“We shouldn’t have to lean into the second or third or fourth level of redundancy to keep the system moving. The system is old. It needs upgraded, massive upgrading. So we have to do better,” Bedford said. But he said the $12.5 billion that Republicans have included in Trump’s massive bill is only a down payment on the upgrades.

Pilots’ unions and Democrats have raised concerns that Bedford may support weakening the 1,500-hour experience standard for airline pilots that was adopted after a 2009 crash or even might consider allowing some airlines to operate with only one pilot. Republic previously asked for permission to hire pilots with less experience because the standard was making it hard to find enough pilots. Families of the victims of that 2009 Colgan air crash and the D.C. crash attended the hearing.

“People are going to want to know … whether you’re going to lead any effort to change that rule,” Democratic Sen. Maria Cantwell said. She asked for a firm written answer because “you helped fund and lobbied for a change for it.”

Bedford refused to commit to maintaining the 1,500-hour rule during under questioning from Democratic Sen. Tammy Duckworth of Illinois.

“What I’m saying is I don’t believe safety is static,” Bedford said as he talked about how the military has changed pilot training to use more technology. But later he said, “I can commit to you that we will not have anything that will reduce safety.”

Bedford said even if European officials have had some conversations about possibly allowing only one pilot under some circumstances, America is “a long ways away” from ever considering it even if some companies are developing new technology that might be able to land a plane.

“I do think that there are ways we can absolutely use technology to improve ,” Bedford said. “I don’t think it goes so far as to tell us we need to remove a trained aviator from cockpit.”

Bedford acknowledged Wednesday that “problems persist and more work needs to be done” to ensure the safety of flying around the nation’s capital. He said his own airline’s planes have received at least three alarms about conflicting traffic around Reagan since January.

Bedford said his priority is modernizing the air traffic control system, and he reiterated that there is no plan to privatize the system because a debate over privatization derailed Trump’s previous effort to upgrade the system in his first term.

If confirmed, Bedford will also lead the FAA’s effort to incorporate and into the nation’s airspace safely. Trump signed executive orders last week to encourage development of that emerging technology.

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

SUMMARY:

  • U.S. rose 2.4% in May; core stayed at 2.8%.
  • Groceries, appliances and toys saw price increases; gas and rent fell.
  • not yet driving broad inflation but may later this year.
  • Economists warn of rising costs for school supplies and coffee.

 

WASHINGTON (AP) — U.S. inflation picked up a bit last month as higher prices for groceries and some imported goods were largely offset by cheaper gas, travel services, and rents.

Consumer prices increased 2.4% in May compared with a year ago, according to a Labor Department report released Wednesday. That is up from a 2.3% yearly increase in April. Excluding the volatile food and energy categories, core prices rose 2.8% for the third straight month. Economists pay close attention to core prices because they generally provide a better sense of where inflation is headed.

The cost of groceries, toys and games, and large appliances rose, which could reflect the impact of President Donald Trump’s tariffs. Yet the price of new and used cars, clothes, air fares, and hotel rooms all dropped from April to May.

On a monthly basis, overall prices ticked up just 0.1% from April to May, down from 0.2% the previous month, with inflationary pressures appearing muted. Core prices also dropped to 0.1% from 0.2%.

The data showed that Trump’s tariffs haven’t yet pushed overall prices higher, suggesting many companies may be absorbing the cost of the higher duties for now. Yet many economists expect the import taxes to modestly increase inflation in the second half of the year. Companies ranging from Walmart to Lululemon to have said they will raise prices in the coming months to offset the impact of tariffs.

“You can point to seeing tariffs in this report, but the more important message is that you’re seeing inflation soften enough elsewhere that overall, price pressures continue to subside for the U.S. consumer,” Sarah House, an economist at Wells Fargo, said.

But offsetting price drops for things like cars and air fares may not continue at the same pace for the rest of this year, she said.

“I don’t think this report signals an all clear — that tariffs are not going to be a concern for the inflation picture,” House said.

The figures also show that core inflation remains stubbornly above the ‘s 2% target, which makes it less likely that the central bank will cut its key short-term interest rate. Trump has repeatedly urged the central bank to reduce borrowing costs.

rose 0.3% from April to May, and are up 2.2% in the past year. Fruits and vegetables, breakfast cereals, and frozen foods all rose last month. Egg costs fell 2.7%, though they are still more than 40% more expensive than a year ago. Gas prices dropped 2.6% last month.

Last week, the Labor Department’s Bureau of Labor Statistics, which compiles inflation data, said it is reducing the amount of data it collects for each . Economists have expressed concern about the cutback. Still, less data could make inflation reports more volatile.

Nearly all economists expect Trump’s duties will make many things more expensive this year, including cars and groceries, though by how much is still uncertain. Trump said Wednesday the U.S. will place 55% tariffs on all imports from China, up from the previous level of 30%. He has also imposed a 10% baseline tariff on imported goods from every other country, and 50% import taxes on steel and aluminum.

Given the potential for higher prices, Fed Chair Jerome Powell and other Fed officials have made clear they will keep their key rate unchanged until they have a better sense of how tariffs will affect the economy.

There are several reasons it can take months for the tariffs to be felt by consumers.

To begin with, many companies tried to beat the clock by bringing in foreign goods before Trump’s tariffs took effect, producing a flood of imports in March. They have stockpiled goods that weren’t hit by tariffs in warehouses, delaying price increases for customers.

Some also held off on hiking prices during the chaos of April and May, when Trump announced sweeping tariffs on imports from nearly 60 countries, only to put them on hold a week later.

Kim Vaccarella, founder and CEO of , a line of sturdy, washable handbags, said she had resisted raising prices even though all her products are manufactured in China. She stocked up on inventory in the spring, before the tariffs went into effect, and stopped importing when tariffs on China were at 145%.

The Seacaucus, N.J., company employs about 80 people and did $100 million in business in 2024.

Vaccarella plans to raise prices in July, with the original Bogg bag going from $90 to $95 and the “Baby” bag increasing from $70 to $75.

The increase isn’t enough to fully cover the higher tariffs. She hopes not to raise prices any further, but said that it’s hard to predict.

“We’ve forecasted, and reforecasted, and reforecasted again,” she said. “We just need to get a handle of what will ultimately be the price we have to pay.”

Bryan Eshelman, a partner and managing director at consulting firm AlixPartners, said higher prices “are coming.”

Eshelman says Americans will start feeling the impact in July, and predicts prices for back-to-school items like clothing and backpacks could go up anywhere from 5% to 15%.

The impact is just starting to hit U.S. food producers, some of which have already passed along higher prices to customers. The J.M. Smucker Co., which raised the price for its coffee in May, said Tuesday that it will raise those prices again in August.

CEO Mark Smucker said that “the current US tariff impact on green coffee is our largest exposure.” The company’s shares tumbled 17% Tuesday.

J.M. Smucker imports 500 million pounds of green coffee annually, mostly from Brazil and Vietnam, which currently face the 10% universal tariff Trump imposed in April. But the two countries could face much higher tariffs when the pause on the so-called “reciprocal” tariffs ends in July.

Most imported goods are actually parts or raw materials for larger products, such as the steel and aluminum goods now facing 50% duties. It will take time for those costs to filter through the supply chain and affect prices. But the sting would likely be broad, from grocery aisles to car lots.