With dozens of headlines every week, it’s easy to miss some here and there. Get in on the conversation. Here are this month’s most-read business stories.
Same contract, more money
General Dynamic’s Electric Boat division added $197 million to its submarine contract with Newport News Shipbuilding for 12 new submarines. Construction starts in 2021 and Navy gets them in 2028. READ MORE.
Old building, new purpose
The City of Newport News will spend about $1.2 million to transform an old building to a coworking space for entrepreneurs and small business owners. Construction starts next spring and ends early 2020. READ MORE.
Save time at Kroger
The grocery store chain’s new Scan, Bag, Go smartphone app lets users skip checkout lines next time they shop. It is currently available at the Kroger location in Grafton, Yorktown, which opened last month. READ MORE.
Consumer prices increased in October
Higher prices for gas, used cars and housing contributed to the 0.3 percent increase, making the total inflation rate around 2.5 percent. The Federal Reserve aims to keep the inflation rate at 2 percent. READ MORE.
Retail sales rose a solid 0.8 percent last month
Retail sales rose 0.8 in October, according to the US Commerce Department. “This looks very much like the end of the boost from the tax cuts, and it strengthens our conviction that (economic) growth has peaked,” Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note. READ MORE.
