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Washington DC Local Business
Retail sales rise, jobless claims fall for April
- Retail sales were up 3.6 percent in April for same-store sales, and weekly jobless claims dropped by 18,000 last week, both surpassing expectations.
New postal rates are good news
- On May 12, the U.S. Postal Service will update its shipping and mailing rates May 12. Some customers, including many businesses, will catch a break, while others will face some price increases as the Postal Service tries to compete with companies such as FedEx and UPS.
Wall Street welcomes WiMAX deal
- Analysts were cautiously optimistic about the future of WiMAX broadband service and Sprint Nextel’s stake in it after the company announced a renewed partnership that brings with it $3.2 billion from five new industry partners.
Mortgage delinquency rates double in Washington region
- The metro region is feeling the effects of nationwide mortgage troubles, as a new data reveals the number of borrowers with mortgage payments at least 60 days late doubled or almost doubled — and in some cases tripled — in all counties in the region from the fourth quarter of 2006 to the same period in 2007.
Office rents, incentives rise in D.C., N.Va.
- The cost of renting office space in downtown Washington and Northern Virginia rose last year, but incentives — usually in the form of free rent or other concessions — became more popular, a sign that the region is being hurt by the nation’s economic slowdown.
Verizon gets go-ahead for FiOS with service extended to Manassas
- Verizon received approval from the city of Manassas on Monday evening to offer its fiber optic television service.
Head of Washington convention center steps down
- The woman in charge of overseeing the D.C. convention center has resigned for personal reasons, according to officials.
Maracas, margaritas come out early for Cinco de Mayo
- This weekend, margaritas will flow and mariachis will play as D.C. gets into the spirit of Cinco de Mayo a bit ahead of the Monday holiday.