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November 06, 2009

NRC’s decision on B&W incident could take 4-6 weeks

It could take more than a month for federal regulators to decide whether to take action against Babcock & Wilcox for possible violations, officials said Friday.

Salmonella victims upset no prosecutions yet against Peanut Corp. of America

At the height of the nationwide salmonella outbreak nearly a year ago, FBI agents raided two peanut plants and carried away boxes of evidence. FDA inspectors found roaches, mold and a leaky roof. Then, Congress revealed e-mails from the peanut company’s top executive that seemed to suggest the pursuit of profits over ensuring public safety.

Judge denies halt enforcement on new tobacco rules

A federal judge has turned down a request by the nation’s No. 2 cigarette-maker and others to immediately halt enforcement of new federal regulations on tobacco products.

NRC to discuss apparent Babcock & Wilcox violations today

Today federal regulators will meet with Babcock & Wilcox Company officials to discuss “apparent violations” surrounding an event at the company’s Mt. Athos facility in July.

U.S. unemployment hits 10 percent for first time since 1983
U.S. unemployment hits 10 percent for first time since 1983

Nearly 16 million people can’t find jobs even though the worst recession since the Great Depression has apparently ended.


November 05, 2009

Congress votes for more aid to jobless, homebuyers

Congress took further steps to right the staggering economy by expanding a popular tax credit for homebuyers and extending unemployment checks for the growing legions of people running out of benefits with few job prospects.

State needs to improve incentives for energy, official says

Virginia can’t get complacent when it comes to business and economic development, a state economic development leader said.

Cash for Clunker deals faulted in sales analysis
Cash for Clunker deals faulted in sales analysis

The most common deals under the government’s $3 billion Cash for Clunkers program, aimed at putting more fuel-efficient cars on the road, replaced old Ford or Chevrolet pickups with new ones that got only marginally better gas mileage, according to an analysis of new federal data by The Associated Press.


November 04, 2009

Engineering research center to break ground in Bedford

A plan to bring a university-level research facility for engineering to the Lynchburg area — without the university — takes a major step forward this week in Bedford County.

UPDATE: Fed again pledges to hold rates at record-lows
UPDATE: Fed again pledges to hold rates at record-lows

With the recession apparently over, the Federal Reserve on Wednesday held a key interest rate at a record low and again pledged to keep it there for an “extended period” to foster the fragile economic recovery.

Lynchburg Bank of America building owners hope to fill space soon

When Bank of America closes its downtown Lynchburg branch next month, the building’s owners hope to quickly recruit a new banking tenant.


November 03, 2009

Barr Laboratories’ parent company reports rising profits

The company that bought the Barr Laboratories facility in Bedford County last year reported on Tuesday that its profits continue to rise.


November 02, 2009

Approval helps clear way for reactors’ construction

A Maryland agency has given a key approval to a deal between two companies that hope to build an Areva-designed nuclear reactor.

Millions without sick leave fear swine flu
Millions without sick leave fear swine flu

For millions of Americans the rule is simple: If you don’t come to work, you don’t get paid.

Ford surprises with $1B profit; sees profit in ‘11

Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a “solidly profitable” 2011.

Kroger selling more house brands
Kroger selling more house brands

SPRINGDALE, Ohio — Ice cream swooshes out of metal nozzles and swirls into 38,000 “party pails” per day here, one of many ways Kroger Co. is using its massive manufacturing capability to feed growing demand for low-priced store brands.

First National Bank drops ‘Altavista’ from name

There’s something missing from the signs at First National Bank of Altavista.


November 01, 2009

The News & Advance names new regional advertising director

Scott Burton has been named regional advertising director for The News & Advance in Lynchburg.


October 30, 2009

Genworth reports profit in third quarter

After spending more than a year in the red, Genworth Financial made profits in the third quarter.

Lebanon auto-parts plant to close, 76 to lose jobs

Continued problems in the auto industry has claimed more jobs in the Tri-Cities region.

Dominion Virginia Power wants to sell stock

Dominion Virginia Power and its parent company, Dominion Resources Inc., have asked the State Corporation Commission for permission to sell up to $1.5 billion of the power company’s common stock to Dominion Resources.

Health care businesses at risk in House overhaul
Health care businesses at risk in House overhaul

The health care overhaul bill produced by House Democrats would impose an array of new taxes, fees and government mandates on major players in the health industry, including insurers, doctors and drugs and medical devices makers.


October 29, 2009

Orders may be sign of better times

A possible early sign that a fragile economic recovery may be under way comes from MeadWestvaco Corp.’s report of a slight rise in the amount of bleached paperboard it sold in late summer.

Nuclear agency to discuss “apparent violations” at Babcock & Wilcox

The conference will be held at 1 p.m. on Nov. 6 at the NRC’s Region II offices in Atlanta.

Senators agree to extend homebuyer tax credit
Senators agree to extend homebuyer tax credit

Senators agreed Wednesday to extend a popular tax credit for first-time homebuyers and to offer a reduced credit to some repeat buyers.

Stimulus jobs in U.S. overstated by thousands

An early progress report on President Barack Obama’s economic recovery plan overstates by thousands the number of jobs created or saved through the stimulus program, a mistake that White House officials promise will be corrected in future reports.

Reynolds raising cigarette prices

A decline in demand is not keeping R.J. Reynolds Tobacco Co. from raising the list price on its cigarette brands by 6 cents or 8 cents a pack for wholesale customers.


October 28, 2009

Lynchburg-area unemployment rate drops below 7 percent in September

The jobless rate in the Lynchburg region dropped for the third month straight in September, Virginia Employment Commission statistics show.

New homes sales drop nationally in September

Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.

Intermet to close Campbell County foundry, affecting 192

On the day after Christmas, nearly 200 people will lose their jobs at Archer Creek Foundry in Campbell County.

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