Business

Coffee firm opens Suffolk warehouse, plans to hire 30

phil.walzer — Fri, 10 Feb 2012 15:20:17 -0500

Massimo Zanetti Beverage USA Inc., a Portsmouth-based coffee manufacturer, has expanded its manufacturing plant in Suffolk with a new 60,000-square-foot warehouse, the city of Suffolk announced today. Massimo expects to hire at least 30 more employees.

Western Tidewater farmers qualify for disaster aid

jeff.sheler — Fri, 10 Feb 2012 12:42:52 -0500

Farmers in Isle of Wight, Southampton, and Surry counties may be eligible for federal disaster relief due to excessive heat and drought last year. The counties were among 24 localities in the state designated this week by the U.S. Department of Agriculture as primary or contiguous disaster areas.

Home prices in South Hampton Roads hit 4-year low

josh.brown — Fri, 10 Feb 2012 11:40:21 -0500

Home prices in South Hampton Roads fell last month to the lowest point in more than four years, according to a report released Friday.
The Real Estate Information Network, the Virginia Beach-based multiple-listing service, reported that the median price for an existing home in January was $165,000, down nearly 11 percent from the year-ago price of $185,000.

Google-Motorola deal likely, but scrutiny will continue

Cindy.Clayton — Fri, 10 Feb 2012 08:19:36 -0500

By Elizabeth Wasserman and Michelle Quinn Google is likely to get the green light from European and U.S. regulators as early as next week for its $12.5 billion acquisition of Motorola Mobility, but the company will likely face continued scrutiny over what’s seen as a lax pledge to license key smartphone patents, sources told POLITICO.

What settlement will and won't do for homeowners

Thu, 09 Feb 2012 23:30:18 -0500

By Derek Kravitz The mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust. Here's a look at what the settlement will and won't do for current and former home-owners: Q: Who stands to benefit?

Making sense of the U.S. foreclosure settlement

Thu, 09 Feb 2012 19:18:33 -0500

It could be months before struggling homeowners in Hampton Roads see any relief from the $25 billion settlement announced Thursday between 49 states and the nation's five largest mortgage lenders over abusive foreclosure practices.

Judge tosses $5 million libel suit against WAVY-TV

tim.mcglone — Thu, 09 Feb 2012 14:15:18 -0500

NORFOLK

A federal judge has thrown out a $5 million libel lawsuit against WAVY-TV filed by the owner of a former Portsmouth tax service.

Va. to get $479.6M in benefits from settlement

Cindy.Clayton — Thu, 09 Feb 2012 13:28:50 -0500

RICHMOND Virginian and home borrowers in the state will receive about $479.6 million in relief from a $25 billion settlement between states and five mortgage lenders over foreclosure abuses.

Federal and state officials announced the deal today.

Cox Communications to open new testing site

Carolyn.Shapiro — Wed, 08 Feb 2012 15:49:32 -0500

CHESAPEAKE
Cox Communications Inc. has teamed with a Pennsylvania logistics company to operate a warehouse on Indian River Road for testing, repairing and shipping cable equipment such as TV set-top boxes.

About 10 Farm Fresh office workers to lose jobs

Wed, 08 Feb 2012 00:42:05 -0500

Correction: An earlier version of this story misstated the type of workers who would lose their jobs at Farm Fresh. No information technology positions are included in the planned layoffs by Farm Fresh’s parent company, Supervalu Inc. The story below has been corrected.