Business stories in Hampton Roads

New data reveals that real income for Americans fell by 0.6% in the third quarter of 2026, as wage growth fails to keep pace with inflation. Rising fuel costs and economic concerns are contributing to the erosion of purchasing power.

The DEA has issued registrations to over 900 medical marijuana dispensaries, allowing them to access tax benefits previously unavailable. This move follows a reclassification of medical marijuana, legitimizing its use across 40 states.

Binance, the world's largest cryptocurrency exchange, has reportedly fallen victim to a massive hacking incident, with an estimated $6.3 billion stolen. This comes as the company and its founder, Changpeng Zhao, have faced long-standing accusations of facilitating crypto crimes.

Recent data reveals that the U.S. economy grew at a robust 3.4% annual rate in the third quarter, driven by strong consumer spending and business investment in AI. However, inflation continues to rise, impacting purchasing power and savings rates, raising concerns as midterm elections approach.

Reddit is transitioning to a primarily 'logged-in' user experience as it grapples with decreased search traffic attributed to AI. This change aims to enhance user engagement and platform functionality.

The IRS announced record tax collections of $5.6 trillion for fiscal year 2026, marking a nearly 5% increase from the previous year. Refunds also rose significantly, with a 17% increase in claims and an 11% rise in average refund amounts.

Two couples have transformed their friendship into a successful restaurant partnership in Norfolk's East Beach. Magnolia and Marlin is gaining popularity for its Southern comfort food, including mac and cheese and cornbread.

Park Lane Tavern is set to open a new location in Newport News near Patrick Henry Mall in early December, taking over a former TGI Fridays site. The restaurant will offer a mix of American and European cuisine and aims to create a vibrant dining atmosphere.

SinopecOctober 30, 2026 CAIRO, Oct. 30, 2026 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec” or “the Company”) hosted the final round and awards ceremony of the “In Search of China-Egypt Youth Cultural Ambassadors” competitio

Teddy's BBQ in the Rio Grande Valley faces soaring beef prices, nearly tripling costs, affecting both business operations and customer spending. As midterm elections approach, voters are considering how these economic pressures influence their political choices.

A new analysis reveals that increased income can lead to changes in personality traits, making individuals more conscientious but less extroverted. The study suggests that while higher income may enhance stability, it could also reduce creativity and risk-taking behaviors.

The U.S. economy experienced a surprising growth of 3.4% in the third quarter, up from 2.2% previously, despite rising inflation rates. Consumer spending remains strong, but inflation has pushed the annual rate to 3.6%, prompting the Federal Reserve to maintain its key interest rate.

Chick-fil-A is set to open its first drive-thru restaurant in Hamilton, Scotland, marking its sixth location in the U.K. The company is investing $100 million for future growth in the region, despite a limited menu compared to U.S. locations.

Recent closures of N.C. 12 due to storm damage have severely impacted businesses on Hatteras Island, leading to significant economic losses. The cancellation of the annual Red Drum Fishing Tournament, a key fundraiser, highlights the ongoing struggles faced by local enterprises.

Apple has officially entered the touchscreen laptop market with its new MacBook Pro featuring a PROLED XDR Display. Set to launch on November 6, the device aims to attract creative professionals and app developers with its innovative features and enhanced usability.

Alphabet's stock plummeted 13.4%, leading to a decline in major US indices after the company reported weaker-than-expected growth. Concerns about the profitability of AI investments and rising borrowing costs are impacting the market.

Job seekers are increasingly encountering ghost jobs and sophisticated online scams in their search for employment. A recent report reveals that a significant percentage of applicants have faced these challenges, leading to frustration and potential financial harm.

Business U&I VenturesOctober 29, 2026 Founded by investor Kim Moore, the firm has already backed nine AI-native engineering and security software startups, helping founders build products informed by enterprise demand while accelerating their path to market. SAN FRANCISCO, Oct. 29, 2026 /PRNews

The FTC has ordered major companies, including Delta Air Lines and Walmart, to disclose how they utilize consumer data for pricing strategies. This investigation aims to ensure fair pricing practices and assess the impact of personal data on consumer costs and gig worker compensation.

Virginia Beach reports increased hotel occupancy and revenue following a difficult spring marked by violence and a curfew. A successful marketing campaign contributed to the positive turnaround, outpacing competitors like Myrtle Beach and Atlantic City.

The Federal Reserve decided to keep its key interest rate unchanged at approximately 3.9% despite ongoing inflation challenges. This decision comes just days before the midterm elections, highlighting economic concerns among consumers.

James City County ended its contract with Flock due to concerns regarding customer service. The cameras will remain in place until the company removes them. (WYDaily/Haidyn Brockelman) JAMES CITY COUNTY — James City County has ended its contract with Flock but will continue to use its cameras until

A recent study highlights significant racial disparities in Americans' ability to handle unexpected expenses, with Black and Hispanic households less prepared than their White and Asian counterparts. The findings indicate that 20% of Black and 18% of Hispanic households struggle to cover a $400 expense, compared to just 9% of White households.

Wendy's shares surged 15% after investor Nelson Peltz's Trian Fund Management proposed a buyout at $7.35 per share. The fast-food chain faces challenges from rising beef prices and increased competition, prompting closures of underperforming locations.

Tech stocks are experiencing a rally as the U.S. Federal Reserve is expected to maintain the current benchmark interest rate. The surge is driven by strong earnings reports from major tech companies and rising energy prices due to geopolitical tensions.

The Federal Reserve board is set to meet to discuss the benchmark interest rate, with analysts predicting it will remain unchanged despite ongoing inflation. This decision comes as midterm elections approach, highlighting the economic implications for voters.

Transamerica InstituteOctober 28, 2026 New report examines the retirement outlook for four generations of workers LOS ANGELES, Oct. 28, 2026 /PRNewswire/ — Most American workers (78%) agree that today’s high cost of living is making it harder for them to save for retirement, according

Before 10:45, customers were already lining up ready for the doors to open at the brand-new Chipotle in Yorktown. (WYDaily/Jillian Appel) YORKTOWN 一 Chipotle welcomed customers in at 10:45 a.m. on Oct. 26 with the grand opening of the brand-new restaurant located on George Washington Memorial Hi

Consumer confidence in the US saw a rebound in October, increasing by 7.5 points to 91.7, as gas prices eased slightly. Despite this improvement, concerns about inflation and high costs persist, potentially impacting the upcoming midterm elections.

Cheerios has announced the addition of resealable bags inside their cereal boxes, responding to customer demand for fresher cereal. This change aims to enhance the consumer experience by preventing stale cereal.