Notices sent by the banking giant indicate that the cuts primarily affect fraud and claims operations.
Matt Busse
Matt Busse covers business for Cardinal News. He can be reached at matt@cardinalnews.org or (434) 849-1197.
Posted inEconomy
APCo compromise would freeze residential rates for a year
After that, the average residential monthly bill would go up 92 cents a month beginning in March 2028.
Posted inLynchburg area
U.S. energy secretary announces electric grid upgrades across parts of APCo’s service area
Up to $50 million in federal money will go toward transmission line work to increase energy supply, U.S. Secretary of Energy Chris Wright said during a visit to Lynchburg.
Posted inSouthwest Area
Proposed electric rate increase of 23% for parts of Southwest Virginia heads to commonwealth regulators
Old Dominion Power wants an increase to base rate, fuel factor and fixed monthly fee.
Posted inNew River Valley
Virginia Tech alumnus named as university’s new president
Richard Linton is currently president of Kansas State University. He will succeed Tim Sands, who announced in April that he would step down from Virginia Tech’s top job.
Posted inEconomy
As electricity demand soars, Virginia’s power transformer industry is booming
Makers of the on- and off-ramps for the power grid are undergoing major expansions and adding thousands of jobs.
Posted inLynchburg area
Developer reveals proposed location for small modular reactor in Amherst County
The news comes two days after Geenex Power announced the nuclear project but not its site, because of the need for due diligence.
Posted inLynchburg area
‘Monstrous towers and lines’: With Campbell County’s vote, localities unite against Valley Link
The proposed transmission line’s latest plan has it running through six counties and ending in Culpeper County.
Posted inLynchburg area
Developer uses public comment period at Amherst County meeting to unveil plans for a nuclear power project
The company has not publicly identified a site for the facility, which would use small modular reactors to produce up to 650 megawatts of power.
Posted inEconomy
Traditional Medicinals starts production at Franklin County factory
The company’s first product from its 110,000-square-foot manufacturing facility in the Summit View Business Park was its Throat Coat tea, which uses slippery elm sourced from the Appalachian region.
