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  • RICHMOND, Va.— It's a key part of being Virginia's governor: using cash, tax breaks or other incentives to lure companies to expand or relocate in the Old Dominion. A new report released Monday by the House Appropriations Committee shows that ongoing incentive programs have grown 84 percent since fiscal 2010 and have totaled $463 million. McAuliffe is asking for...

  • WASHINGTON— Federal judges have overturned decisions by the Department of Veterans Affairs to demote two senior officials accused of manipulating the agency's hiring system for their own gain. The VA demoted Kimberly Graves and Diana Rubens last month. Rubens earns $181,497 as director of the Philadelphia regional office for the Veterans Benefits...

  • NEW YORK— Lumber Liquidators will pay more than $13 million for illegally importing hardwood flooring, after the company pleaded guilty to environmental crimes last year. The Department of Justice said that Lumber Liquidators made hardwood floors in China from illegally cut Mongolian oak trees in Russia. Lumber Liquidators, which was sentenced Monday in...

  • CarMax CEO Thomas Folliard retiring Monday, 1 Feb 2016 | 8:29 AM ET

    NEW YORK— Used-car retailer CarMax Inc. on Monday said that CEO Thomas J. Folliard plans to retire at the end of 2016 and is expected to be replaced by William D. Nash. William C. Wood, currently executive vice president of stores, is being promoted to chief operating officer. The board of the Richmond, Virginia, company said it expects Folliard to continue serving as...

  • NEW YORK— Dominion Resources will spend approximately $4.4 billion to acquire Questar in a big reach to the West for the East Coast energy company. Questar is in the Rockies and a principal source of gas supply to Western states. Questar shareholders will receive $25 per share, a 23 percent premium to its Friday closing price of $20.39.

  • Dominion Midstream beats 4Q profit forecasts Monday, 1 Feb 2016 | 7:22 AM ET

    RICHMOND, Va. _ Dominion Midstream Partners LP on Monday reported fourth-quarter net income of $14.6 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share. Dominion Midstream shares have decreased 9 percent since the beginning of the year.

  • Dominion misses 4Q profit forecasts Monday, 1 Feb 2016 | 7:21 AM ET

    RICHMOND, Va. _ Dominion Resources Inc. on Monday reported fourth-quarter net income of $357 million. The Richmond, Virginia- based company said it had net income of 60 cents per share. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

  • ASBURY PARK, N.J.— Officials from several New Jersey shore towns joined with some members of the state's congressional delegation Sunday to oppose federal plans that would allow oil and gas drilling in the Atlantic Ocean. Bob Menendez and Cory Booker and Rep. Frank Pallone, all Democrats, were among those who cited a potential for "catastrophic" oil spills that...

  • Jan 29- A Washington state school administrator has lost a high-profile bid to suppress evidence against him secured by the FBI during an operation in which it secretly ran one of the Internet's largest child pornography websites in order to catch its users. District Judge Robert Bryan in Tacoma, Washington, on Thursday rejected arguments by Jay Michaud, one of...

  • TowneBank posts 4Q profit Friday, 29 Jan 2016 | 9:50 AM ET

    PORTSMOUTH, Va. _ TowneBank on Friday reported fourth-quarter net income of $12.5 million. The Portsmouth, Virginia- based bank said it had earnings of 24 cents per share. TowneBank shares have fallen roughly 10 percent since the beginning of the year.

  • Middleburg Financial posts 4Q profit Thursday, 28 Jan 2016 | 7:42 PM ET

    MIDDLEBURG, Va. _ Middleburg Financial Corp. on Thursday reported fourth-quarter profit of $781,000. Middleburg Financial shares have increased slightly more than 5 percent since the beginning of the year. Keywords: Middleburg Financial, Earnings Report.

  • MeadWestvaco reports 1Q loss Thursday, 28 Jan 2016 | 5:29 PM ET

    RICHMOND, Va. _ MeadWestvaco Corp. on Thursday reported a loss of $453.5 million in its fiscal first quarter. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share. Six analysts surveyed by Zacks expected $3.71 billion.

  • C&F posts 4Q profit Thursday, 28 Jan 2016 | 3:35 PM ET

    WEST POINT, Va. _ C&F Financial Corp. on Thursday reported fourth-quarter profit of $2.3 million. The West Point, Virginia- based bank said it had earnings of 68 cents per share. Keywords: C&F Financial, Earnings Report.

  • K12 posts 2Q profit Thursday, 28 Jan 2016 | 9:03 AM ET

    HERNDON, Va. _ K12 Inc. on Thursday reported fiscal second-quarter net income of $8.5 million. The Herndon, Virginia- based company said it had profit of 23 cents per share. For the current quarter ending in April, K12 said it expects revenue in the range of $215 million to $225 million.

  • Altria 4Q revenue improves, plans job eliminations Thursday, 28 Jan 2016 | 7:31 AM ET

    RICHMOND, Va.— Altria's fourth-quarter revenue improved thanks partly to higher tobacco product pricing, and the company announced a plan to reduce costs that includes job eliminations. Altria said the charges include about $120 million in employee separation costs. Altria earned $1.25 billion, or 64 cents per share, for the period ended Dec. 31.

  • Northrop Grumman beats 4Q profit forecasts Thursday, 28 Jan 2016 | 6:33 AM ET

    FALLS CHURCH, Va. _ Northrop Grumman Corp. on Thursday reported fourth-quarter earnings of $459 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.99 per share. Northrop Grumman expects full-year earnings to be $9.90 to $10.20 per share, with revenue in the range of $23.5 billion to $24 billion.

  • MicroStrategy beats 4Q profit forecasts Wednesday, 27 Jan 2016 | 4:47 PM ET

    TYSONS CORNER, Va. _ MicroStrategy Inc. on Wednesday reported fourth-quarter profit of $39.1 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.31 per share. MicroStrategy shares have decreased 21 percent since the beginning of the year.

  • WASHINGTON, Jan 27- Aircraft parts maker Spirit AeroSystems Holdings Inc is interviewing several candidates for the position of chief operating officer as part of a succession plan for Chief Executive Officer Larry Lawson, according to two people familiar with the matter. Spirit spokeswoman Debbie Gann said the company never commented on personnel...

  • Nexstar to buy Media General as Meredith agrees to bow out Wednesday, 27 Jan 2016 | 10:04 AM ET

    NEW YORK— Nexstar said Wednesday that it is buying rival TV station operator Media General after Meredith agreed to allow Media General to get out of a takeover bid for Meredith. Media General had offered to buy media company Meredith in September. As a result, Media General will have to pay $60 million in cash to Meredith Corp. Based in Des Moines, Iowa, Meredith...

  • General Dynamics tops 4Q profit forecasts Wednesday, 27 Jan 2016 | 9:15 AM ET

    FALLS CHURCH, Va. _ General Dynamics Corp. on Wednesday reported fourth-quarter earnings of $764 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.35 per share. General Dynamics shares have dropped slightly more than 7 percent since the beginning of the year, while the Standard& Poor's 500 index has...