Business stories in Hampton Roads

The housing market is showing signs of shifting in favor of buyers, with increased inventory and more realistic pricing strategies from sellers. Despite rising mortgage rates, buyers now have more negotiating power and options available.

Ever felt like Capri Sun pouches were a little too small? You're not alone. Now, the company is doing something about it.

A shortage of synthetic motor oil has led retailers like Costco to raise prices and limit purchases. The supply crunch is attributed to refineries focusing on gasoline production and geopolitical tensions affecting oil imports.

The Fed's interest rate hike, driven by persistent inflation, spells challenges for borrowers but offers higher yields for savers.

Diesel prices in Hampton Roads are on the rise, putting financial pressure on local trucking companies. This increase threatens to elevate consumer costs across the region.

The Federal Reserve has increased interest rates for the first time in over three years, raising them by 0.25 percentage points. This decision comes despite pressure from President Trump to lower borrowing costs, as inflation remains above the Fed's target.

Retail sales in the U.S. rose by 1.2% in August, rebounding from a 0.5% decline in July. This increase reflects consumer resilience despite rising prices and a dip in confidence.

The push to add Canada to the EU comes as both face increased uncertainty about their economic ties to the U.S.

Many homeowners are surprised by increased insurance deductibles, with some now facing costs as high as $4,000 after damage. Experts attribute this trend to extreme weather events and inflation, urging homeowners to review their policies regularly.

The proposed merger between Dominion Energy and NextEra is under renewed scrutiny after the companies announced expanded benefits for Virginia customers. Advocacy group Clean Virginia is calling for a delay in the review process to ensure thorough examination of the new commitments.

As Wall Street anticipates a potential interest rate hike from the Federal Reserve, the S&P 500 shows slight gains while oil prices ease. The market remains under pressure from high inflation and global economic uncertainties.

Retail sales in the U.S. rose by 1.2% in August, surpassing expectations after a dip in July. Consumers continue to spend despite rising gas prices and economic uncertainties.

Many homeowners are shocked to discover high deductibles on their insurance policies after storm damage. Carl Roberts learned he must pay $4,000 out of pocket for repairs, a significant increase from his previous $1,000 deductible.

A new report from the Congressional Budget Office indicates that the ongoing conflict with Iran will continue to drive up gas prices, with relief not expected until 2027. This situation is contributing to rising inflation across the economy.

A new Sheetz store is set to open in Suffolk on September 22, featuring a grand opening celebration with a ribbon-cutting and giveaways. The event will include a chance to win a $2,500 Sheetz Z-Card.

Rising diesel prices are putting significant financial pressure on farmers in Hampton Roads. A Chesapeake farmer expresses concern about the sustainability of their operations amid these escalating costs.

Towing companies in Hampton are demanding a rate increase, claiming they haven't had a raise since 2000. If their request is not met soon, they may go on strike, raising concerns among city officials about the impact on residents.

Forbes has released its 45th annual Forbes 400 list, with Elon Musk topping the rankings for the fifth year in a row, boasting a net worth of $908 billion. The list highlights the growing wealth among billionaires, particularly in the tech and AI sectors.

Starbucks has launched a limited release of 10 Peanuts-themed collectible items, including cups and accessories, coinciding with the 60th anniversary of 'It's the Great Pumpkin, Charlie Brown.' The company is also offering two special Peanuts-inspired beverages for a limited time.

Median U.S. household income rose 2.6% in 2025, reaching a record high of $87,460, surpassing pre-pandemic levels. Despite this growth, concerns about affordability and income inequality persist, particularly as the gender wage gap narrows.

Sanctuary Vineyards in Currituck County is currently in its harvest season, benefiting from drought conditions that are ideal for grapevines. General manager John Wright discusses the vineyard's history and the unique advantages of the Outer Banks region for winemaking.

Dominion Energy Virginia and NextEra have revised their merger proposal, extending bill credits for residential customers from two to four years and committing to job protections for five years. The deal includes plans for a new NextEra headquarters in Richmond, creating 600 jobs focused on renewable energy.

Grocery prices continue to stress American households, with average monthly spending up 31% since 2019. While some retailers have lowered prices, experts warn these cuts may not be sustainable.

The Gates Foundation has announced a $1 billion pledge aimed at making artificial intelligence more equitable. Bill Gates has expressed concerns about AI's risks and the need for better regulations.

The Federal Reserve is expected to raise its benchmark interest rate, countering President Trump's ongoing calls for a reduction ahead of the midterm elections. This decision highlights the Fed's independence from political influence.

The national average for diesel has surged above $6.20, the highest ever recorded, raising concerns about rising consumer prices. President Trump attributes the spike to Ukraine's attacks on Russian oil refineries, while Democrats criticize his focus on events instead of affordability.

Despite economic unease, Americans are expected to spend around $700 on holiday gifts this season, a slight decrease from last year. Millennials are cutting back the most, with significant declines in both gift and travel spending, while many consumers are prioritizing screen-free gifts and utilizing AI for shopping assistance.

A recent study reveals that private label sales have exceeded $251 billion, with Gen Z and Millennials driving 81% of this growth. The trend highlights a shift in consumer preferences towards quality and health-focused products.

Creekmore's Place, a family-run farm in Virginia Beach, is set to open a new farm-to-table kitchen after receiving a $48,498 grant. The kitchen will offer prepared foods made from local produce, enhancing the family's long-standing presence in the community.