WAVY Archive: 1981 Virginia Beach Nor’easter

NEW YORK (AP) — It’s been a tough football season for sports books. FanDuel and its key rival DraftKings have both showed investors that the house can indeed lose, or at least lose more than anticipated. Flutter Entertainment, which operates FanDuel and dominates the sports betting industry with a market value of $45 billion, said […]

The IRS on Friday announced Jan. 27 as the official start date of the 2025 tax season, and expects more than 140 million tax returns to be filed by the April 15 tax deadline. The announcement comes with agency in the midst of a massive overhaul, attempting to improve its technology and customer service processes […]

WASHINGTON (AP) — The Supreme Court seemed likely to uphold a law that would ban TikTok in the United States beginning Jan. 19 unless the popular social media program is sold by its China-based parent company. Hearing arguments in a momentous clash of free speech and national security concerns, the justices seemed persuaded by arguments […]

NEW YORK (AP) — U.S. stocks are falling sharply on worries that Friday’s good news on the job market may be too good and prove to be bad for Wall Street by keeping inflation and interest rates high. The S&P 500 was down 1.3% in late trading and on track for its fourth losing week […]

NEW YORK (AP) — Kohl’s said Friday it was closing 27 underperforming locations in 15 states by April — a fraction of its 1,150 store base — as the struggling department store chain aims to boost profitability and improve sagging sales. The announcement comes as the Menomonee Falls, Wisconsin-based chain has posted 11 consecutive quarters […]

WASHINGTON (AP) — U.S. job growth surged and unemployment fell last month, an unexpected show of strength that may prove costly to homebuyers and businesses who were counting on sharply lower interest rates to lower the cost of buying everything from refrigerators to homes. Employers added 256,000 jobs last month, up from 212,000 in November, […]

Constellation is buying natural gas and geothermal power provider Calpine for $16.4 billion, joining together two of the country’s biggest power companies. The acquisition would create the nation’s leading retail electric supplier, serving 2.5 million customers, the companies said Friday. It’s geographic footprint will span the continental U.S. and include a significantly expanded presence in […]

FRANKFURT, Germany (AP) — The Group of Seven democracies have sought to crimp Russia’s oil export earnings that help fund the war against Ukraine. But Western governments and sanctions experts say Moscow has resorted to using a so-called shadow fleet of hundreds of aging tankers of uncertain ownership and safety practices that are dodging sanctions […]

Walgreens booked a better-than-expected fiscal first quarter and gave Wall Street some positive vibes on the drugstore chain’s plan to revive its struggling business. Company shares soared Friday after leaders told analysts they have made progress improving one of the biggest concerns facing the industry, shrinking prescription reimbursement, and said their store-closing plan was progressing […]

DETROIT (AP) — The Honda Civic hybrid won the 2025 North American Car of the Year award, while the Ford Ranger took the crown for the truck honors, and Volkswagen ID. Buzz won the utility award. The honors, announced Friday morning during an Automotive Press Association event kicking off the North American International Auto Show […]

Delta Air Lines topped profit and revenue expectations in the fourth quarter on strong demand during the crucial holiday period. Delta said Friday that travel demand picked up throughout the quarter. During November and December, the airline said that it saw four of the top 10 revenue days in its history and double-digit growth in […]

UNITED NATIONS (AP) — The world economy resisted battering by conflicts and inflation last year and is expected to grow a subdued 2.8% in 2025, the United Nations said Thursday. In “World Economic Situation and Prospects 2025,” U.N. economists wrote that their positive prediction was driven by the strong although slowing growth forecast for China […]

SACRAMENTO, Calif. (AP) — The wildfires that destroyed homes in multiple sections of the Los Angeles area will test California’s efforts to stabilize the state’s insurance marketplace after many insurers stopped issuing residential policies due to the high fire risk. The wind-driven blazes that started Tuesday roared through neighborhoods from the Pacific Coast inland to […]

BANGKOK (AP) — World shares were mixed on Thursday as the U.S. stock market remained closed to observe a National Day of Mourning for former President Jimmy Carter. London’s FTSE 100 climbed 0.8% to 8,319.69 as the value of the British pound slid against the U.S. dollar amid worries about the United Kingdom’s economy and […]

ALBANY, N.Y. (AP) — New York Gov. Kathy Hochul on Thursday said she will push for new laws to make it harder for hedge funds to purchase large numbers of single-family homes in the state. In a statement, Hochul said she would propose legislation this year that would require a 75 day waiting period before […]

The average long-term U.S. mortgage rate ticked up again this week, remaining at its highest level since July. The benchmark 30-year fixed rate loan rate rose to 6.93% from 6.91% last week, according to mortgage giant Freddie Mac. It was at 6.66% a year ago. It has risen for four straight weeks. The uptick in […]

NEW YORK (AP) — Credit card defaults are on the rise for Americans, reaching the highest level in 14 years. U.S. credit card defaults jumped to a record $46 billion from January through September 2024, according to the Financial Times, citing data analyzed by BankRegData. With high levels of credit card debt and high inflation, […]

NEW YORK (AP) — When Justin Stewart started his career, he juggled several jobs to make ends meet. He poured himself into his full-time role as a news show production assistant from 3 a.m. until noon. Then he rushed to the airport where he rented cars or to the big box stores where he pulled […]

NEW YORK (AP) — Electric vehicle demand is expected to keep rising this year, but uncertainty over policy changes and tariffs is clouding the forecast. S&P Global Mobility expects global sales of 15.1 million battery electric vehicles in 2025, which would mark a 30% jump. Battery electric vehicles are expected to make up 16.7% of […]