Powell’s tenure as Fed chair marked by fight for independence while trying to tame inflation
Jerome Powell concludes eight years as Fed chair, leaving a transformed U.S. economy.
Economy
Stock markets worldwide drop from records as worries about oil prices rattle the bond market
Oil prices continued rising as the war with Iran drags on.
From Cisco to Block, more companies are pointing to AI when unveiling job cuts
Many fear what the rapid adoption of AI will mean for their job prospects.
Who is incoming Fed chair Kevin Warsh?
Warsh takes over a divided central bank wrestling with the fallout from the Iran war.
Cisco leads Wall Street to more records and the Dow back to 50,000
Whether consumers will keep spending is a big question for Wall Street.
US filings for jobless benefits hits 211,000 as the war in Iran drags on, clouding economic forecast
The four-week moving average of jobless claims inched up by 750 to 203,750.
Summer travel 2026 will be most expensive in years as airlines aren’t backing off high prices
Summer 2026 will be one of the most costly for consumers in a long time.
US and China seek to repair damage from tariff war that sent trade into a freefall
The world's two biggest economies have shown they can hurt each other.
US grocery prices rose in April, but gas spikes weren’t the only reason
Prices for food eaten at home rose 2.9% last month compared to a year earlier.
Producer prices shot up 6%, adding pressure on companies to hike prices for struggling customers
The Labor Department reported Wednesday that its producer price index — which tracks inflation before...
Federal gas tax holiday sees growing support amid soaring prices
Since the Iran war started in late February, gas prices have jumped across the country from a...
Wall Street falls from its records as AI stocks slump and oil prices rise
Oil prices rose again as the war with Iran threatens to drag on.
The Iran war is hitting home as gasoline prices fuel inflation surge of 3.8% in the US
April prices rose 0.6% from March as gasoline prices rose 5.4%.
Peninsula Salvation Army moves into larger headquarters to better serve community
The nonprofit organization celebrates its 128th year of service on the Peninsula this week at...
Businesses are facing rising costs during the Iran war, and economists expect more strains ahead
The war has plunged the world into an energy and supply chain crisis.
Is federal legislation needed to regulate prediction markets?
"Federal legislation is needed to close gaps in consumer protection," said one business leader.
Asia braces for a second wave of energy shocks from the Iran war
As ceasefire talks remain stalled, short-term solutions are fast eroding.
Sales down, but profit up for ABC stores in Virginia
With about 60 home-grown distillers in Virginia, the industry is also worried about ABC cutting...
Older Americans say it’s a good time to find a job. Younger people aren’t buying it, new poll finds
The findings reveal a generational rift in Americans' views of economic opportunity.
Oil prices rise as the Iran war drags on, but US stocks inch to more records
The war has delivered a blast of painful inflation through the global economy.
Customers turned thieves: Ongoing thefts at Mr Fix’s stores in Hampton Roads prompt frustration for owner, employees
Even with rules in place — including customers being required to present their identification as...
Trump’s tariffs hit Toyota profit, though its global sales grew
Japan’s top automaker said its profit for the fiscal year ending in March was $25...
US stocks rise to records after a solid jobs report overshadows higher oil prices
Oil prices held relatively steady.
US employers defy economic shock from Iran war and add a surprisingly strong 115,000 jobs in April
America’s employers a delivered a surprising 115,000 new jobs last month despite an economic shock...
Dominion Energy customers likely to see larger bills due to soaring costs
Data centers' heavy electricity use has driven demand far above what Dominion generates for its...
Virginia Beach works to woo tourists after curfew, 2 recent shootings
Virginia Beach is putting additional money toward a tourism marketing campaign this year to counter...
US stocks fall from their records as oil prices yo-yo
Hope is rising as Iran said it was reviewing the latest U.S. proposals on ending...
US jobless claim applications rise to 200,000 but remain historically low despite economic headwinds
The previous week’s new claims figure was revised up by 1,000 to 190,000.
DoorDash plans to spend more than $50 million on gas price relief for its drivers this spring
DoorDash said demand for deliveries remained strong in the January-March period despite higher gas prices.
Why gasoline costs 52% more in the US than it did before the Iran war
Regular gasoline reached a national average of $4.54 per gallon on Wednesday.
Shipping firms are being whipsawed by changing stances and risks as they wait for Hormuz to reopen
Industry figures say a return to normal transit will take weeks even if there's a...
Oil prices sink and stocks leap worldwide on hopes for a reopening of the Strait of Hormuz
Stock markets abroad had even bigger gains.
Gasoline costs 50% more in the US than it did before the Iran war
The price of a gallon of regular gasoline spiked to an average of $4.48.
US job openings were unchanged at 6.9 million in March but hiring improved
The job market has been up and down so far this year after a dismal...
Trump’s drugmaker deals may save economy $529B over 10 years, White House says
Democratic lawmakers have been doubtful about the savings claimed by Trump.
Wall Street rallies to records after oil prices ease and corporate profits keep topping expectations
Stocks got a boost after oil prices gave back some of their big jumps from...
Wall Street falls from its records and oil prices jump after fighting flares in the Middle East
Hope is high on Wall Street that the global economy can avoid a worst-case scenario...
Richmond firm Mission Lane plans to open bank
The bank’s organizers include some former senior executives of Capital One, a big credit card...
‘State of Innovation’: Hampton Roads’ foundation for growth ready for takeoff, leaders say
“There is a significant amount of innovation happening across Hampton Roads,” said Zack Miller, Innovate...
‘Use it or lose it’: Solar advocates say IRS is still writing checks for solar credits, so go get yours
There is still a short window for businesses, nonprofits and municipalities to squeeze benefits from...
Apple leads Wall Street toward more records as oil prices pull back
The main uncertainty for the global economy is where oil prices will go because of...
Influencer or agent? In today’s market, Realtors have to be both to score clients.
According to the National Association of Realtors, social media is now the industry’s predominant method...
Tax refunds and AI boom have offset some US economic pain from Iran war and high gas prices, so far
New data showed that prices outgrew American incomes for the second straight month.
Hampton Roads consumers find rising cost of groceries hard to stomach
The Virginian-Pilot and Daily Press took a look at how shoppers in Hampton Roads are...
Weekly US jobless claims fall to 189,000, lowest in more than 5 decades
U.S. jobless aid applications for the week ending April 25 fell by 26,000 by to...
US economy grew 2% from January-March, recovering from federal shutdown; Iran war clouds outlook
GDP rebounded from a lackluster 0.5% expansion the last three months of 2025.
Key inflation gauge jumps to highest level in 3 years as Iran war spikes gas prices
An inflation gauge monitored by the Fed rose 0.7% in March from February.
US stocks rally to the finish of their best month since 2020, even as oil prices whipsaw
Strong profit reports from companies like Alphabet and Amazon helped support the stock market.
Fed likely to leave rates unchanged at what may be Powell’s last meeting, as Warsh to advance
Wednesday will likely be a momentous day for the future of the Federal Reserve.
Kevin Warsh is one step closer to top job at the Fed after Trump’s pick approved by Senate committee
The vote was 13-11, with all Republican senators voting in favor and Democrats opposed.
Oil prices keep spurting higher, but US stocks hold near their records
Brent crude’s price is approaching its high point of the war.
Will Powell stay or go? Fed chair may reveal next steps after central bank meeting Wednesday
Also Wednesday, the Senate Banking Committee will vote on whether to confirm Kevin Warsh.
US consumer confidence inches higher in the face of soaring gasoline prices
The national average for a gallon of gas in the U.S. rose to $4.18 this...
Sinking AI stocks and rising oil prices weigh on Wall Street
Stocks enmeshed in the artificial-intelligence industry led the way lower.
Trump pursues new import taxes to replace the tariffs the Supreme Court rejected
Trump's newest tariff push is likely to prove sturdier than what the Supreme Court tossed...
US stocks edge higher, while oil prices rise ahead of a blockbuster week for Wall Street
Oil prices climbed as tankers still find the Strait of Hormuz effectively closed.
Justice Department drops criminal probe of Fed chair Powell, likely clearing way for Warsh
The decision ends an investigation that for months had failed to gain traction.
Intel’s best day since 1987 leads the US stock market to more records
Such strong profit reports have helped Wall Street rally to records.
Concourse expansion with new concessions opens at Norfolk airport
The work is part of an ongoing multiyear $1 billion capital improvement project to expand...
Meta slashes 8,000 jobs, or 10% of its workforce, as Microsoft offers buyouts
The industry is spending heavily on the costs of artificial intelligence.
US jobless claim filings rise modestly to 214,000 last week, remain at historically healthy levels
Filings for unemployment benefits are considered a proxy for U.S. layoffs.
US stocks fall on a shaky Wall Street as Brent oil briefly barrels above $107
More expensive oil has hurt airlines in particular because of already big fuel bills.
Airline company Lufthansa cuts 20,000 flights as war squeezes fuel prices and supplies
The Iran war is driving up oil prices, leading to jet fuel worries and higher...
Newport News at center of energy innovation, Tech Center Research Park managing director says
Chelsea Olivieri is the managing director of Tech Center Research Park and the Secure Energy...
US stocks rally to records, but Brent oil also tops $100 on worries about the Iran war
Another rise in oil prices helped keep enthusiasm in check on Wall Street.
Trump’s approval on economy falls in poll, showing new warning signs for president
Poll finds Trump’s approval rating on the economy dropped to 30% in April.
3 business owners file lawsuit to end Oceanfront curfew
Five Oceanfront businesses – including Sweet Frog, Abbey Road Restaurant & Pub and Peabody's –...
Stocks slip and oil prices rise on uncertainty about US-Iran ceasefire talks
Other signals are also indicating the U.S. economy may be doing OK.
Warsh says he got no pressure from Trump to cut rates even as president publicly pushes for them
Democrats on the committee accused Warsh of flip-flopping on interest rates over the years.
Women take the lead in whiskey as more female drinkers and distillers change the industry
Female leaders are innovating and increasing representation in the whiskey industry.
US Bank partners with Amazon on small-business credit cards
The bank expects the new Amazon cards will help owners manage expenses, and the cards...
Oil prices rise and US stocks give back a bit of their record-breaking rally
It’s a turnaround from the last trading day on Wall Street.
Suffolk-based TowneBank sells its resort property management division
Towne Vacations was sold to Belcrest Vacations Acquisitions for $250 million on April 6.
Businesses begin claiming refunds for Trump tariffs struck down by US Supreme Court
By MAE ANDERSON NEW YORK (AP) — A refund system for businesses that paid tariffs...
Virginia Beach-based Groundworks commits to hiring 5,000 employees throughout the U.S. in next 5 years
Hampton Roads remains a key area for the company’s growth, but founder Matt Malone said...
Virginia Beach curfew FAQs: Everything you need to know
Virginia Beach City Council approved a temporary 9:30 p.m. weekend curfew for all ages at...
Oil prices drop 9% and Wall Street rallies to a record after Iran reopens the Strait of Hormuz
The reopening of the Strait of Hormuz is the clearest yet signal for optimism.
Federal Reserve nominee Kevin Warsh faces Senate scrutiny over financial holdings
Senator Warren and Democrats are demanding full disclosure, citing ethics concerns.
Wall Street sets another record after US stocks tick higher
Oil prices climbed, showing that caution still remains in financial markets.
US jobless claims fall last week as layoffs remain low despite global economic uncertainty
A number of high-profile companies have cut jobs recently.
Painted Tree in Virginia Beach abruptly closes with no notice to vendors
The company confirmed that it was closing all of its more than 60 locations nationwide.
It’s Tax Day. Treasury says 53 million filers used new Trump tax exemptions before the deadline.
The data comes as 7 in 10 Americans think their taxes are too high, per...
Wall Street hits a record as S&P 500 continues its 2-week rally on hopes for an end to the Iran war
Oil prices showed that caution remains in financial markets.
Prosecutors sought access to Federal Reserve building as Trump threatens to fire Powell
The site is the focus of an investigation into a $2.5 billion renovation project.
Virginia unemployment rate ticks up, as labor pool shrinks
Unemployment ticked up to 3.7% in Virginia in January, at the same time the state's...
Hampshire College, which counts filmmaker Ken Burns among its alumni, is closing later this year
The school, which was founded in 1965, has struggled for several years.
A new gold rush: States stockpile bars, encourage gold-backed debit cards
Several states have been stockpiling gold as part of their broader state savings.
7-Eleven expects to close hundreds of its stores in North America this year
Seven & i Holdings Co. plans to close 645 7-Eleven stores in North America.
Banks see economy as ‘resilient’ but warn about rising energy prices
Executives warned high oil prices were starting to negatively impact the consumer.
Citing fallout from the Iran war, IMF cuts the outlook for global growth, expects higher inflation
The Iran war has stalled the world's economic momentum this year, the IMF warned.
Wall Street rallies to the edge of its all-time high as oil prices ease
To be sure, hope has often quickly swung into doubt since the war began.
US wholesale prices surged 4% last month after the war in Iran sent energy prices flying
Energy prices surged 8.5% from February.
Starbucks rolls out performance bonuses, tipping changes for baristas
Employees could earn an extra $1,200 annually if their stores meet and exceed sales, operational...
Trump promised tax relief, but polling shows most Americans still think they’re overpaying
Discontent about taxes has been rising for the past few years.
How a US blockade near the Strait of Hormuz could work and the impact ahead for the global economy
The blockade risks an Iranian response that could reignite the conflict.
The US is short 10 million houses. A new White House report lays out a blueprint to fix that.
The analysis notes home prices have risen 82% since 2000, while incomes are up 12%.
Already under financial pressure, Midwest soybean farmers are squeezed further by tariffs, Iran war
Experts say it will take time for global supply chains to recover from the war.
US stocks rally on a still hopeful Wall Street as oil prices ease back from their morning spurts
The oil market showed more concern, and prices there rose roughly 5%.
Hampton Roads ForKids fundraiser reaches $2M threshold, 100 times its first
"This community stepped up at a moment when families in Hampton Roads are really struggling,"...
Federal court hears new case against Trump’s latest global tariffs
The centerpiece of Trump’s economic policy is under legal assault again.