St. Thomas and Virgin Islands News

St. Thomas Tax Beneficiary Lays off 60

One of St. Thomas’s most visible tax beneficiaries has given the pink slip to 60 employees, or roughly a third of its workforce.

A new record for home prices—but fewer owners to benefit

The housing bust is officially over, 10 years after it started. But like much else in the economy, the real-estate recovery has benefitted the wealthy more than others, with many ordinary folks still falling behind.

US homes sales improved in June, best pace since early 2007

Americans bought more homes in June, the fourth straight monthly gain as the sales rate reached its highest level in more than nine years.

Feds Keeping Millions in USVI Customs Duties

Months after agreeing to turn over more V.I. customs duties to the territory, U.S. Customs and Border Patrol has told local officials it will keep nearly all the expected $11.5 million to cover the cost of collecting the money, according to Finance Commissioner Valdamier Collens.

Sunscreen with Oxybenzone Dangerous to Corals

While V.I. National Park rangers ask visitors not to use sunscreen containing oxybenzone because it harms coral reefs, a study out this week makes clear the problems.