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Data center discord continues to block Virginia budget agreement

Virginia senators continue push for tax break repeal on data centers, while governor and House back further study.

Spanberger, legislators...

Spanberger, legislators come to marijuana retail compromise

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CarMax logo is seen in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration

CarMax shares fall after CEO flags high costs, operational shortcomings

CarMax shares dropped over 7.5% after CEO Keith Barr highlighted high costs and operational shortcomings amid squeezed margins in the first quarter.

Industries

The New Year's eve ball ascends on the day of SpaceX's initial public offering (IPO) in New York City, U.S., June 12, 2026. REUTERS/Brendan McDermid

Richmond attorneys among advisory team for landmark SpaceX IPO 

Hunton Andrews Kurth attorneys from Richmond advised SpaceX on its historic $85.7 billion IPO, the largest public offering in Wall Street history.

Real Estate

Depositphotos

Dragas unveils plans to redevelop Virginia Beach National Golf Course

The Dragas Cos. announced Tuesday a proposal to purchase and renovate the Virginia Beach National Golf Course.

Money

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 3, 2026. REUTERS/Brendan McDermid

Wall Street closes lower on Fed rate hike bets

Wall Street closed lower as traders bet on Federal Reserve rate hikes after Fed Chair Kevin Warsh emphasized inflation control and policy shifts.

Government

State and local officials join Jefferson Lab leadership for a ceremonial groundbreaking of the Jefferson Lab Data Center. Photo by Josh Janney

Jefferson Lab breaks ground on $49M data center

Jefferson Lab broke ground on a 30,000-square-foot building on its Newport News campus that will house the High Performance Data Facility.

People

Commonwealth President and CEO Ken Strickler. Photo courtesy Commonwealth

Commonwealth real estate firm selects longtime exec as new CEO

Glen Allen-based real estate company Commonwealth has appointed longtime executive Ken Strickler as its new CEO.

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BTM Business Connect

Rolley Davis, President of Sussex Development Corporation.

Rolley Davis Promoted to President of Sussex Development Corporation

Virginia Beach, VA — Sussex Development Corporation, a leading construction management firm headquartered in Virginia Beach, announced today the promotion of Rolley Davis from Vice President to President. As President, he will oversee company operations, strategic initiatives, and long-term growth, while continuing to foster the culture of integrity, commitment, collaboration, and excellence that has defined […]

Movers & Shakers

EVENTS

Virginia Top Projects & Real Estate Deals

July 28th, 2026 - 5:30 PM

Top Projects is an annual recognition program honoring the most outstanding building and construction projects completed across Virginia ove[...]

In-House Counsel Awards

September 17th, 2026 - 11:30 AM

Virginia Lawyers Weekly and Virginia Business recognize Virginia’s top in-house counsel, who, among other things, navigate complicated con[...]

Women In Leadership

October 6th, 2026 - 5:30 PM

The Women in Leadership Awards celebrate top women executives for their overall professional accomplishments, civic engagement, mentorship, [...]

Icons Honors

November 13th, 2026 - 11:30 AM

The Virginia Icons Awards recognize the lifetime achievements of Virginia leaders from business, government and higher education over the ag[...]

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Around The Nation

Yum Brands to sell Pizza Hut for $2.7B after prolonged demand slump

Microsoft sued by shareholders over expenses, cloud business, AI

Cyber leaders urge US to lift curbs on Anthropic’s security models

Fox strikes $22B deal for Roku to fuel streaming push

Democrats want to target companies that buy back their own stocks

SpaceX IPO makes Elon Musk the world’s first trillionaire

SpaceX trading to kick off after record IPO, with hopes for first-day surge

Oil drops as Trump cancels planned strikes against Iran

New U.S. Federal Reserve Chairman Kevin Warsh holds a press conference following a two-day meeting of the Federal Open Market Committee (FOMC), at the U.S. Federal Reserve in Washington, D.C., U.S. June 17, 2026. REUTERS/Eric Lee

Fed begins Warsh era by keeping rates on hold, sees one hike later this year

The Federal Reserve held interest rates steady but projects one hike later this year amid inflation concerns under new chairman Kevin Warsh.

SpaceX employees cross the road as they go to work at the SpaceX facility in Hawthorne on the day of their company's IPO, in Hawthorne, California, U.S. June 12, 2026. REUTERS/Mike Blake

SpaceX vaults past Amazon’s market value as options listing fuels surge

SpaceX surged past Amazon's market value to $2.655 trillion fueled by heavy options trading and is set for inclusion in major indexes.

President and COO of SpaceX Gwynne Shotwell, SpaceX CFO and President of Strategic Acquisitions Bret Johnsen, SpaceX Vice President for Human Resources Brian Bjelde, Nasdaq CEO Adena Friedman and others pose on a balcony at the Nasdaq MarketSite after the closing bell, on the day of SpaceX's initial public offering (IPO), in New York City, U.S., June 12, 2026. REUTERS/Brendan McDermid/File Photo

SpaceX IPO haul rises to $85.7B after underwriters exercise greenshoe

SpaceX increased its ipo haul to $85.7 billion after underwriters exercised the greenshoe option, marking the largest ipo in history and boosting market capitalization.

SpaceX logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration

SpaceX locks in $60 billion Cursor deal to power AI coding push

SpaceX is buying Anysphere, the maker of AI coding agent Cursor, for $60 billion in stock to expand its enterprise AI tools market presence.

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, June 15, 2026. REUTERS/Stringer

Global shippers cautious on Hormuz transit despite US-Iran deal

Global shippers remain cautious about resuming transit through the Strait of Hormuz despite the US-Iran framework deal to reopen the waterway.

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Opinion

No one’s indispensable — and that’s a good thing

The choice we’re making about AI

Virginia’s economic competitiveness depends on civic infrastructure

Making the business case for InternshipsVA

Millennials burn out while holding it all together

Bridging the workplace soft-skills gap across generations

Why Virginia’s one-term limit for governors deserves a second look

The December question every leader should anticipate

Tesla CEO Elon Musk holds a mobile phone as he arrives to attend a state banquet with U.S. President Donald Trump and Chinese President Xi Jinping at the Great Hall of the People in Beijing, China, May 14, 2026. REUTERS/Evan Vucci//File Photo

One in a trillion: Musk’s milestone 

Elon Musk became history's first trillionaire following the successful SpaceX IPO, marking a new wealth milestone with significant economic impact.

Economic Development 2025: BELCHER, JONATHAN S.

Could Virginia’s data center fight scare off other industries?

In 2024, following the unsuccessful effort to bring a sports arena to Alexandria, I wrote in Virginia Business that the Commonwealth would continue to find success recruiting investment and jobs because “the fundamentals of the commonwealth’s business case remain unbelievably strong and make us the envy of most other states.” That opinion was ultimately proven […]

WILLIAM G. ‘BILL’ CRUTCHFIELD JR.

Commentary: Entrepreneurs, think creatively

Bill Crutchfield, founder of Crutchfield Corp. in Charlottesville, shares how unconventional thinking drove his company's success.

The People Paradox: Why ‘Soft’ Skills Deliver the Hardest Numbers

Are your best people leaving over money — or this?

COVID did something to us that a decade of wellness programs never could. It forced us to look directly at our own mortality and ask with unusual honesty, is this how I want to spend my time? That question did not stay at the dinner table. It followed people into their offices, their Zoom calls […]

Maritime and logistics can lift the commonwealth

Maritime and logistics can lift the commonwealth

Virginia Maritime Association's executive director on state's maritime industry

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