Business stories in Hampton Roads

New trustees James Boswell, Mark Coberly and J. Bradley Fewell with Board Chair Jon E. Krapfl. (Photo courtesy Williamsburg Symphony Orchestra) WILLIAMSBURG — The Williamsburg Symphony Orchestra has appointed three new members to its Board of Trustees, adding experience in law, business, government

Virginia's economy faces challenges with over 25,000 federal job losses and rising inflation due to global conflicts. Economists warn of a fragile growth period ahead.

Professors at Old Dominion University provided insights into the economic conditions facing the U.S. and Virginia as 2026 approaches. They highlighted the uncertainties impacting many individuals and businesses at this mid-year point.

The U.S. stock market experienced its worst day since October, driven by a sell-off in major tech companies and a strong jobs report that raised interest rate hike expectations. The S&P 500 dropped 2.6%, marking its first losing week in ten, while the Dow and Nasdaq also saw significant declines.

Texas Governor Greg Abbott is advocating for the expedited construction of a $750 million fly-breeding facility to combat the New World screwworm, a parasite threatening the cattle industry. The USDA has confirmed a recent infestation, marking the first case in Texas since 1966, prompting urgent action.

Beignets & Brew has officially opened its new location in Norfolk with a ribbon-cutting ceremony. The local franchise aims to create a community-focused experience.

Anthropic is urging leading AI companies to coordinate a temporary pause in advanced AI development due to rapid technological advancements that could lead to loss of human control. The call comes as AI systems become capable of self-improvement, raising concerns about potential risks.

After the abrupt bankruptcy of Painted Tree Boutiques, a new company called The Collective Boutiques is set to reopen a location in Virginia Beach. Vendors who lost their storefronts are being invited back to sell their goods.

As MacArthur Center prepares to close its doors on June 27, local businesses are grappling with the impact of the mall's shutdown. While some tenants have found new locations, others, like Larry Estes of Cool and Eclectic, express frustration over the lack of support from city officials.

The U.S. labor market added 172,000 jobs in May 2026, marking three consecutive months of growth. While short-term unemployment decreased, long-term unemployment rose, and average hourly wages increased by 3.4%, still lagging behind inflation.

The U.S. stock market experienced its worst day since October, driven by significant losses in major tech companies and rising bond yields following a strong jobs report. The S&P 500 dropped 2.6%, marking its first losing week in ten weeks.

Hey everyone, does anyone in the Tidewater area know of a good gas station that offers an automatic car wash that can be purchased directly at the pump? I’m trying to put together a list of approved locations for our team. Our company only allows car washes when the wash is included as part of the

The cafe I work at is hiring and we need some trusted employees soon! Super chill and laid back spot with young progressive coworkers. DM me!

[Link: https://www.wvtf.org/news/2026-06-05/speaker-scott-says-virginia-should-honor-its-word-on-business-deals-including-with-data-centers]

Klassic Doughnuts, a family-owned food truck, continues to attract loyal customers in Virginia Beach, Chesapeake, and Norfolk despite rising ingredient costs. Co-owner Karisa Hochstetler highlights the strong community support and growth the business has experienced this year.

In May, U.S. employers added 172,000 jobs, reflecting resilience in the labor market despite rising costs from the Iran war. The unemployment rate remains steady at 4.3%, but challenges persist for young job seekers and those recently laid off.

The number of Americans filing for jobless aid has reached its highest level in four months, with applications increasing to 225,000. Despite this rise, layoffs remain historically low, but the ongoing Iran war is creating uncertainty in the labor market.

ShoreDrop, an app-based beach gear delivery service, has been launched by a group of college friends to enhance convenience at the Virginia Beach Oceanfront. The service allows customers to reserve and have beach essentials delivered directly to their spot on the sand.

Wyze has issued a recall for its solar-powered security cameras due to potential burn and fire hazards. The issue stems from incorrect assembly instructions that could lead to damage of the lithium-ion battery.

A recent Deloitte survey reveals that only 45% of Americans plan to take a summer vacation this year, the lowest in six years. Rising costs, particularly in gas and lodging, are leading many families to rethink their travel plans.

[Link: https://www.dcnewsnow.com/news/local-news/virginia/loudoun-county/woman-sues-outback-steakhouse-for-1-5m-says-she-slipped-on-mashed-potatoes-in-sterling-restaurant/]

Trader Joe's is set to reintroduce its popular mini canvas tote bags in four new pastel colors this summer. The limited-edition bags will be available starting June 17 for $2.99 each, amid high demand and a growing resale market.

Governor Abigail Spanberger's veto of the retail marijuana bill leaves Virginia's marketplace in limbo, impacting small businesses like Grow Depot. CEO Adam Dobbins expresses concerns over the bill's shortcomings and its effects on small operators.

Virginia Beach's DroneUp, once heralded for its drone delivery services, faces setbacks after Walmart ends their partnership and job creation goals go unmet. The company is reevaluating its strategy amidst changing market conditions.

In April, nearly 6% of U.S. home listings were pulled from the market, reflecting a standoff between sellers and buyers. Many sellers are hesitant to lower prices, while buyers gain negotiating power due to rising inventory and economic uncertainty.

Military home buyers in Hampton Roads are grappling with affordability issues similar to civilians, while military sellers face unpredictable market timing due to relocations. Experts emphasize the unique challenges these groups encounter in the real estate market.

The lawsuit accused the company of being "unreasonably dangerous" conditions for customers.

Teens are struggling to find summer jobs this year due to economic uncertainty, increased competition, and automation. A forecast suggests 2026 could see the lowest teen hiring rates since 1948, as traditional industries face higher costs and competition from older workers.

SpaceX aims to raise up to $75 billion in its upcoming IPO, potentially making Elon Musk the world's first trillionaire. The offering would value the company at $1.77 trillion, surpassing previous records.