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Business - Baltimore Sun

Business news, technology, real estate and investing news from The Baltimore Sun

Last Build Date: Sun, 22 Apr 2018 23:13:28 -0400

Copyright: ©2018 Baltimore Sun

Under Armour suspended YouTube ad buys after CNN found its ads among hundreds of brands appearing on extremist channels

Fri, 20 Apr 2018 12:25:00 PDT

Under Armour briefly pulled its advertising from YouTube after learning from CNN that its ads appeared on a white nationalist video channel.

The Baltimore-based athletic apparel brand was among hundreds of companies and organizations whose ads ran on YouTube channels promoting extremist or controversial...

Maryland chooses dozens of struggling neighborhoods statewide for new federal 'Opportunity Zone' tax breaks

Fri, 20 Apr 2018 10:15:00 PDT

Maryland officials have selected dozens of struggling neighborhoods around the state for new federal tax breaks designed to spur investment.

Under last year’s federal tax overhaul, investors can put money into housing and business projects in designated “Opportunity Zones” and pay less tax on any...

Philip Morris' next challenge: Get boomers hooked on vaping

Fri, 20 Apr 2018 12:20:00 PDT

After its stock fell the most in a decade on Thursday, Philip Morris International's challenge is to convince baby boomers to switch from cigarette smoking to a distinctly millennial activity - fiddling with high-tech, smokeless gadgets.

The tobacco giant spent $4.5 billion developing devices it...

Cordish Cos. to team up with Jacksonville Jaguars on stadium neighborhood

Thu, 19 Apr 2018 16:30:00 PDT

Prominent Baltimore development firm The Cordish Companies has been tapped to help develop a planned $2.5 billion mixed-use district around the NFL stadium in Jacksonville, Fla.

The Jacksonville Jaguars announced Thursday that Cordish will partner with the team and Iguana Investments, a company...

Maryland's jobless rate rose to 4.3 percent in March but 3,200 jobs were added

Fri, 20 Apr 2018 08:25:00 PDT

Maryland’s unemployment rate ticked up to 4.3 percent in March even as the state added 3,200 jobs, the U.S. Labor Department said Friday.

The state last month more than recovered the 1,000 jobs it lost in February, for a total of 2.73 million jobs, according to preliminary statistics released by...

Five Minutes with Nkiambi Jean Lema of N.J. Lema & Co.

Fri, 20 Apr 2018 05:00:00 PDT

Five Minutes with Nkiambi Jean Lema, owner of N.J. Lema & Co. accounting and taxation business.

Southwest Airlines sends passengers of deadly flight $5,000 checks, $1,000 flight vouchers

Fri, 20 Apr 2018 08:39:00 PDT

Southwest Airlines has sent passengers of Flight 1380 a letter of apology that includes a check for $5,000 “to cover any of your immediate financial needs” after the plane suffered an engine failure and had to make an emergency landing in Philadelphia.

The letter also says the passengers would...

Wells Fargo hit with record fines, will pay $1 billion for mortgage, auto lending abuses

Fri, 20 Apr 2018 12:08:00 PDT

Wells Fargo will pay $1 billion to federal regulators to settle charges tied to misconduct at its mortgage and auto lending business, the latest punishment levied against the banking giant for widespread customer abuses.

In a settlement announced Friday, Wells will pay $500 million to the Office...

BGE to spend $31 million to replace Baltimore's first gas pipeline through Leakin Park

Thu, 19 Apr 2018 14:10:00 PDT

BGE is spending $31 million to replace the first pipeline to bring natural gas to Baltimore, rerouting the World War II-era pipeline away from sensitive wetlands in Leakin Park.

The 2-mile section of the Granite Natural Gas Pipeline was built along the Dead Run tributary of the Gwynns Falls in...

JPMorgan Chase to open branches, invest in Baltimore-Washington area

Thu, 19 Apr 2018 09:30:00 PDT

The banking giant JPMorgan Chase & Co. plans to expand into the Maryland-Washington, D.C.-Virginia area first as it invests $20 billion in up to 20 new markets in the next five years, bank officials announced Thursday.

The New York-based bank, the largest in the nation, plans to open 70 new Chase...

Kushner Cos. subpoenaed by feds after AP report

Fri, 20 Apr 2018 05:39:00 PDT

The Kushner Cos. has been subpoenaed by federal prosecutors for information related to an Associated Press report that the company filed dozens of false documents about its buildings in New York City.

The real estate company issued a statement saying it has "nothing to hide and is cooperating fully...

Camden Yards is among the only ballparks without Wi-Fi. The Orioles are looking to fix that.

Thu, 19 Apr 2018 02:00:00 PDT

Orioles fans wonder why Camden Yards' lineup doesn't include Wi-Fi when nearly every other Major League Baseball ballpark does.

The people have spoken: Heinz will bring 'mayochup' condiment to U.S. stores

Wed, 18 Apr 2018 11:00:00 PDT

If you want to see “mayochup” — a pre-mixed mayonnaise-ketchup product made by Kraft Heinz — on store shelves, you are clearly not alone.

The company, based in Chicago and Pittsburgh, asked Twitter users last week if it should bring the hybrid condiment to the U.S., and the response was overwhelming....

Tourism company pledges $300k to move National Aquarium dolphins to sanctuary

Thu, 19 Apr 2018 07:50:00 PDT

The tour operator Virgin Holidays is pledging $300,000 to help move seven dolphins from the National Aquarium in Baltimore to a seaside sanctuary.

The aquarium is still deciding where to retire its dolphins, though a statement Wednesday from Virgin Holidays says the site selection is focused on...

Toss the romaine lettuce or risk E. coli, officials warn

Thu, 19 Apr 2018 08:30:00 PDT

An unusually virulent strain of E. coli bacteria on romaine lettuce has sent 31 people to hospitals in 16 states, and health officials are urging consumers to throw out any of the lettuce they may have bought recently.

No grower or distributor has been identified as the source of the outbreak,...

Mortgage rates climb to highs not seen in four years

Thu, 19 Apr 2018 08:00:00 PDT

Mortgage rates broke out of their rut this week, with the 30-year fixed-rate average reaching its highest level in four years.

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 4.47 percent with an average 0.5 point. (Points are fees paid to...

Lockheed Martin lands $1 billion deal for hypersonic missile

Thu, 19 Apr 2018 07:30:00 PDT

Lockheed Martin landed a nearly $1 billion deal with the U.S. Air Force to develop a hypersonic cruise missile that can travel five times the speed of sound — that’s more than 3,800 mph — fending off competing bids by defense giants Northrop Grumman, Boeing and Raytheon.

The $928 million deal will...

Southwest Airlines sought more time for engine inspections

Thu, 19 Apr 2018 11:46:00 PDT

Southwest Airlines sought more time last year to inspect fan blades like the one that snapped off during one of its flights Tuesday in an engine failure that left a passenger dead.

The airline opposed a recommendation by the engine manufacturer to require ultrasonic inspections of certain fan blades...

Maryland ranks No. 1 in U.S. for minority and women businesses ownership, study finds

Wed, 18 Apr 2018 15:00:00 PDT

Maryland has the highest rate of per-capita minority and women business ownership in the United States, a recent study shows.

The state has nearly 42 minority owners for every 100,000 residents, according to a survey by Paychex, a payroll, human resources and insurance services company. It also...

Amazon reveals its Prime service has 100 million members

Thu, 19 Apr 2018 05:35:00 PDT

Amazon has persuaded more than 100 million shoppers to subscribe to its Prime service that offers free two-day shipping and other perks that help bind people to the company and its ever-expanding empire.

CEO Jeff Bezos quantified the size of Amazon's Prime membership for the first time Wednesday...

Senate votes to kill a policy warning auto lenders about discrimination against minority borrowers

Thu, 19 Apr 2018 06:27:00 PDT

The Senate on Wednesday voted to kill a five-year old Obama administration policy warning auto lenders not to discriminate against minority borrowers.

The legislation, which passed 51 to 47 largely along party lines, is the latest Republican rebuke of the Consumer Financial Protection Bureau's...

What you need to know about the Southwest Airlines engine failure

Wed, 18 Apr 2018 09:30:00 PDT

Engine failure at 30,000 feet forced the emergency landing of a Southwest Airlines jet on Tuesday, leading to the death of one passenger and injuries to seven others. The fatality was the first aboard a U.S. flight since 2009, according to the National Transportation Safety Board.


Baltimore start-up offers online matching for borrowers and lenders

Wed, 18 Apr 2018 05:00:00 PDT

A Baltimore tech start-up aims to become the of mid-sized firms needing a loan to fund their growth.

Cerebro aims to help companies too big to rely solely on their local bank branch and not yet in the world of large public corporations through the sometimes difficult process of shopping...

'That's how she's wired': Southwest pilot lauded for handling crisis

Wed, 18 Apr 2018 16:32:00 PDT

The Southwest Airlines pilot being lauded as a hero in a harrowing emergency landing after a passenger was partially blown out of the jet's damaged fuselage is also being hailed for her pioneering role in a career where she has been one of the few women at the controls.

Tammie Jo Shults, one of...

Wayfair follows Amazon with its own made-up holiday: Way Day

Wed, 18 Apr 2018 06:20:00 PDT

Amazon started Prime Day. Alibaba capitalized on Singles Day. Now another e-commerce company is hoping for success with an invented shopping holiday.

Online furniture seller Wayfair is calling April 25 Way Day and will offer discounts that it says are comparable to its Black Friday deals.


Baltimore advanced material maker Pixelligent raises $7.6 million in latest funding round

Wed, 18 Apr 2018 05:05:00 PDT

Pixelligent Technologies, a Baltimore-based advanced materials manufacturer, announced Wednesday that it has raised another $7.6 million to fund the continuing commercialization of its products globally.

The company makes nanocrystals — specks of zirconia a fraction of the width of a strand of...

IRS gives all taxpayers an extra day to file after website issues

Tue, 17 Apr 2018 17:40:00 PDT

Americans are getting an extra day to file their taxes after key elements of the IRS website crashed on deadline day.

The IRS said that individuals or businesses with a filing or payment due Tuesday now have until midnight Wednesday to complete the task.

Earlier Tuesday, Americans who had waited...

Starbucks to close all U.S. stores afternoon of May 29 for anti-racial bias training

Tue, 17 Apr 2018 16:00:00 PDT

Starbucks has announced plans to close all U.S. stores and corporate offices on the afternoon of May 29 to train employees against racial bias after the arrest last week of two black men waiting at one of the company’s Philadelphia stores.

The training, which will close the more than 8,000 company-owned...

Under Armour investor sues Kevin Plank over Port Covington deal in South Baltimore

Tue, 17 Apr 2018 15:30:00 PDT

An Under Armour investor is suing Kevin Plank and Under Armour on behalf of the company over Plank's Port Covington deal.

Hotel Revival, Baltimore's newest boutique hotel, debuts in Mount Vernon. Take a look inside.

Tue, 17 Apr 2018 13:00:00 PDT

The Hotel Revival won’t officially open in Mount Vernon until May 3, but some people already are trickling through the doors and booking small gathering spaces for business and personal events.

Those running the 107-room boutique hotel hope to give the travelers a feel for Baltimore.

“We want it...

Apple said to plan a 'Netflix for news' in latest services push

Tue, 17 Apr 2018 11:50:00 PDT

Apple plans to integrate recently acquired magazine app Texture into Apple News and debut its own premium subscription offering, according to people familiar with the matter. The move is part of a broader push by the iPhone maker to generate more revenue from online content and services.

The Cupertino,...

Starbucks faces image crisis after arrest of 2 black men

Tue, 17 Apr 2018 09:34:00 PDT

Three years ago, Starbucks was widely ridiculed for trying to start a national conversation on race relations by asking its employees to write the words "Race Together" on coffee cups. The initiative, though it backfired, was in line with the company's longstanding effort to project a progressive...

SEC launches ad campaign to remind investors: If it sounds too good to be true...

Tue, 17 Apr 2018 09:15:00 PDT

There’s no risk. This opportunity won’t last long. This is the perfect time. You’re money can only grow.

If it sounds too good to be true, it most likely is.

The U.S. Securities and Exchange Commission plans to begin running public service announcements around the country — and in Baltimore — to...

Starbucks CEO meets with 2 black men arrested at Philadelphia store

Tue, 17 Apr 2018 08:21:00 PDT

The chief executive of Starbucks has personally apologized to two black men who were arrested while waiting at one of the coffee chain's stores last week, an incident that triggered heated protests and calls for a boycott.

Starbucks CEO Kevin Johnson apologized in a private meeting with the two...

Under Armour will begin supplying MLB uniforms in 2020 — a year later than planned

Tue, 17 Apr 2018 06:55:00 PDT

Under Armour won’t begin supplying Major League Baseball uniforms until 2020, returning to the original schedule and abandoning a plan to accelerate the rollout a year earlier, according to officials familiar with the plans.

Major League Baseball and the Baltimore-based sports apparel and footwear...

Program that aims to reduce power plant emissions has spurred $4 billion in economic activity, study finds

Tue, 17 Apr 2018 02:00:00 PDT

The Regional Greenhouse Gas Initiative, a power plant emissions-capping program that includes Maryland, has generated $4 billion in net economic activity, even accounting for the costs it has added to electricity, a study has found.

Starbucks to train workers on 'unconscious bias,' CEO says

Mon, 16 Apr 2018 15:20:00 PDT

Starbucks wants to add training for store managers on "unconscious bias," CEO Kevin Johnson said Monday, as activists held more protests at a Philadelphia store where two black men were arrested after employees said they were trespassing.

Johnson, who has called the arrests "reprehensible," arrived...

Komen Race for the Cure to move to Columbia from Baltimore

Mon, 16 Apr 2018 14:30:00 PDT

After one year back in Baltimore, the Susan G. Komen Maryland Race for the Cure, which raises money for breast cancer research, will move to Columbia this fall to what organizers called a more centralized location that they hope will attract more people from throughout the state.

Black worker incomes remain far behind earnings for whites in Baltimore, study shows

Mon, 16 Apr 2018 13:30:00 PDT

Black workers in Baltimore are concentrated in low-wage industries and jobs, a study released Monday by the Associated Black Charities shows.

Old Line Bank completes $143 million acquisition of Bay Bank

Mon, 16 Apr 2018 11:30:00 PDT

Old Line Bank has completed its acquisition of Bay Bank as their parent companies merged to create the third largest bank based in the state.

Old Line Bancshares Inc. acquired Columbia-based Bay Bancorp in a deal valued at $143.1 million, mostly newly issued stock.

The acquisition gives Bowie-based...

Can Company in Canton to get an exterior overhaul

Mon, 16 Apr 2018 08:30:00 PDT

The Can Company in Canton is getting a face-lift that will include new lights, seating, signs and a park area, according to owner MCB Real Estate and leasing company KLNB.

Baltimore-based MCB and New York-based Angelo, Gordon & Co. bought the three-building, 205,865-square-foot former industrial...

Towson University marks start of $180M project for new Science Complex on York Road

Mon, 16 Apr 2018 07:50:00 PDT

Towson University will host a ceremony Tuesday to break ground on the college’s new $180 million Science Complex, which officials say will become the largest academic building on campus when it’s completed in 2020.

The new 320,000-square-foot center, being built along York Road south of the campus’...

Upscale, downscale: Target draws customers with collaborations with high-end brands

Mon, 16 Apr 2018 06:38:00 PDT

Not long ago, Gracie Howard got a pair of bright red Hunter rain boots. She felt good about the purchase - at least until she heard Target would soon be selling almost identical Hunter boots for a fraction of the price.

"I just wanna know why I've been buying $150 Hunter boots but the Hunter collection...

Would you pay for an ad-free Facebook?

Mon, 16 Apr 2018 06:25:00 PDT

If you’re not paying for the product, then you are the product.

That business-world adage has allowed Facebook to thrive, attracting 2 billion users who choose to trade their personal information for no-cost access to the world’s largest social network.

The data they fork over have proven to be...

200 million eggs recalled because of salmonella concerns

Mon, 16 Apr 2018 05:28:00 PDT

More than 200 million eggs distributed to restaurants and grocery stores in nine states have been recalled because of bacterial contamination.

A notice posted on the Food & Drug Administration website Friday said the eggs shipped from a North Carolina farm may be tainted with salmonella. The bacteria...

Ripken to promote LifeBridge Health Sports Medicine Institute

Sat, 14 Apr 2018 07:25:00 PDT

Cal Ripken Jr. is partnering with the LifeBridge Health Sports Medicine Institute, according to the institute and the Hall of Fame baseball player’s representatives.

Ripken, who played his entire career with the Orioles, will promote the institute on billboards and in radio, television and print...

Michael Ferro sells stake in Chicago Tribune parent Tronc to McCormick Media for $208.6 million

Fri, 13 Apr 2018 18:45:00 PDT

Michael Ferro, who resigned last month as chairman of Chicago-based newspaper chain Tronc, has struck a deal to sell his entire stake in the company, according to a filing late Friday with the Securities and Exchange Commission.

Ferro, who as the largest shareholder owned more than 25 percent of...

Maryland-based companies would get tax break under bill sent to Hogan

Fri, 13 Apr 2018 14:30:00 PDT

Maryland-based companies would get a break on their taxes — while out-of-state firms could pay more — if Gov. Larry Hogan signs legislation passed by the General Assembly this week.

The bill, which was approved in the final hours of the annual 90-day session, would put Maryland on what is knows...

Five minutes: Co-owner of Senator, Charles theaters is caretaker of Baltimore memories

Fri, 13 Apr 2018 13:45:00 PDT

Operating the 79-year-old Senator and Charles theaters requires multi-tasking to the extreme.

“I do payroll, and we’ve got to make sure the movies get delivered. We’ve got to make sure we have popcorn. And I always joke that I’m the chief birthday party planner,” said Kathleen Lyon, who owns the...

First open house for Cal Ripken Jr.'s Reisterstown home auction set for Saturday

Fri, 13 Apr 2018 12:20:00 PDT

For anyone interested in buying the former residence of Orioles legend Cal Ripken Jr., or at least taking a peek inside, open houses for the 24-plus acre estate in Reisterstown start Saturday.

Ripken plans to auction the lavish home in Worthington Valley on May 12. The estate has six bedrooms,...

Undeterred by failed crowdfunding bid for Toys R Us, billionaire offers nearly $900 million

Fri, 13 Apr 2018 12:20:00 PDT

Billionaire Isaac Larian, the toy marketer whose lineup includes Little Tikes and Bratz dolls, offered to save part of Toys "R" Us from liquidation with an almost $900 million bid for stores in the U.S. and Canada.

Larian would pay $675 million and $215 million for outlets in Canada, he said Friday...

Comcast says customers can soon add Netflix subscription with bundle

Fri, 13 Apr 2018 11:55:00 PDT

One of the nation's largest cable companies is adding Netflix directly to its product lineup.

Comcast said Friday that you will soon be able to purchase a Netflix subscription from the TV and Internet provider as part of a regular bundle of services.

Just as consumers currently pay a monthly fee...

Wells Fargo says it faces $1 billion penalty for mortgage, auto business misdeeds

Fri, 13 Apr 2018 09:25:00 PDT

Wells Fargo said Friday that it faces a potential $1 billion in fines to resolve government investigations into the megabank's behavior in the auto and mortgage markets.

The bank has acknowledged that it charged thousands of customers for auto insurance they didn't need, driving some to default...

West Street office building sold for $6 million

Fri, 13 Apr 2018 09:20:00 PDT

A downtown Annapolis office building that was part of the first wave of redevelopment along West Street sold at the end of March for $6 million.

Dowell-Bridgewood LLC of Montgomery County purchased 125 West St. from 125 West Street Associates. The sale closed March 19, state property records show.


Before he ran for office, Trump made millions off his brand. Now his merchandise empire is virtually gone.

Fri, 13 Apr 2018 08:30:00 PDT

Before he ran for office, Donald Trump made millions by selling his name to adorn other people's products. There was Trump deodorant. Trump ties. Trump steaks. Trump underwear. Trump furniture. At one time, there was even a Trump-branded urine test.

Now, almost all of them are gone.

In 2015, Trump...

With new CEO, VW shifts focus from scandal to future tech

Fri, 13 Apr 2018 07:12:00 PDT

Volkswagen's new CEO said Friday that the automaker must "significantly step up the pace" as it develops electric and self-driving vehicle technologies and offers transportation as a digitally driven service.

Herbert Diess said a new management structure bundling the company's dozen brands in just...

Ellicott City business advises international team how to rebound from natural disaster

Fri, 13 Apr 2018 02:00:00 PDT

As visitors from Bangladesh, India, Nepal and Sri Lanka stood in a circle Wednesday in a clothing boutique in historic Ellicott City, they looked to shop owner Tammy Beideman for advice on surviving a natural disaster.

The seven-member delegation from South and Central Asia — citizens of countries...

New York investment bank Goldman Sachs considers involvement in Mondawmin Mall

Thu, 12 Apr 2018 15:55:00 PDT

An official with Goldman Sachs, the New York investment bank that is helping develop the massive Port Covington complex in South Baltimore, said Thursday the bank is looking at other sites in Baltimore, including the space at Mondawmin Mall left empty in February when the retail giant Target closed...

Pikesville company ordered to pay nearly $500,000 for violating Medicaid fraud settlement

Thu, 12 Apr 2018 13:00:00 PDT

A Pikesville-based health care company and its owner have been ordered to pay nearly $500,000 after violating a 2014 settlement agreement in a Medicaid fraud case, Attorney General Brian E. Frosh announced Thursday.

Bernadette Nwanguma and her firm, A1 Reliable Medical & Healthcare Services Inc.,...

U.S. publishers worry about pricier newsprint with new tariffs

Thu, 12 Apr 2018 10:03:00 PDT

Newspaper publishers across the U.S. already strapped by years of declining revenue say they’re dealing with an existential threat: Recently imposed tariffs on Canadian newsprint driving up their business costs.

The tariffs are a response to a complaint to the U.S. Department of Commerce from a...

Port of Baltimore sets 38-year record for amount of public, private cargo handled

Thu, 12 Apr 2018 09:15:00 PDT

The port of Baltimore handled 38.4 million tons of cargo at its public and private marine terminals last year, more than any year in nearly four decades, the state announced Thursday.

Valued at $53.9 billion, the cargo fell just short of the record cargo tonnage in 1974 and 1979 — which were the...

After legal battle, Ford licenses hybrid engine technology from Baltimore-based tech firm, Abell Foundation

Thu, 12 Apr 2018 09:15:00 PDT

Ending a long-running legal battle, Ford Motor Co. agreed to pay a Baltimore-based technology firm and the Abell Foundation to use a hybrid engine technology.

The value of the licensing deal, announced Thursday, was not disclosed but likely runs into the millions of dollars over time.

Paice LLC,...

Uber to up its background checks for drivers

Thu, 12 Apr 2018 06:20:00 PDT

Uber will start doing annual criminal background checks on U.S. drivers and hire a company that constantly monitors criminal arrests as it tries to do a better job of keeping riders safe.

The move announced Thursday is one of several actions taken by the ride-hailing company under new CEO Dara...

Bank of America to stop lending to some gun manufacturers in wake of Parkland massacre

Thu, 12 Apr 2018 05:45:00 PDT

Bank of America will stop lending to manufacturers of "military-style firearms" that are sold for civilian use, a bank official revealed this week.

Anne Finucane, a vice chairman at Bank of America, announced the plans Tuesday in an interview with Bloomberg Television, saying the bank had "intense...

Under Armour losing ground with teenagers, survey says

Wed, 11 Apr 2018 13:40:00 PDT

Under Armour is seeing its popularity fade among teens, a key demographic for sports apparel brands, according to Piper Jaffray's semi-annual teen research survey.

Gen Z buyers are looking for streetwear and 1990s fashions, with Vans footwear hitting a new peak and even sports footwear giant Nike...

Engineering firm Kimley Horn relocates and expands space at McHenry Row

Wed, 11 Apr 2018 13:30:00 PDT

The local office of the international engineering firm Kimley-Horn Associates Inc. plans to add to its space at McHenry Row as the 20-acre mixed-used project in Locust Point continues to expand.

The firm will relocate its office and 20 engineering professionals in the fall into McHenry Row III,...

Weis Markets ready to open new Fullerton store

Wed, 11 Apr 2018 12:00:00 PDT

Overlea residents Lana and Regis Connors got a sneak peak Wednesday in Weis Markets newest Maryland supermarket, this one in the Fullerton Plaza shopping center in Baltimore County, following a ribbon-cutting ceremony.

“I think it looks great,” Lana Connors said as she and her husband stood among...

Rick Kohr named chair of the Economic Alliance of Greater Baltimore

Wed, 11 Apr 2018 09:00:00 PDT

The Economic Alliance of Greater Baltimore has named Rick Kohr as its new board chair for the next two years.

Rick Kohr is the founding member and CEO of Evergreen Advisors LLC, a boutique investment bank with offices in Columbia and Washington that serves emerging growth to middle-market companies.


Walmart plans $28 million in upgrades to Maryland stores

Wed, 11 Apr 2018 08:15:00 PDT

Walmart plans to spend $28 million to upgrade eight Maryland stores and expand its online grocery pickup service in the state, the retailer said Wednesday.

The mass merchant will remodel Baltimore-area stores in Abingdon, Catonsville, Hanover, Randallstown and Severn, as well as stores in Frederick,...

The craft beer industry's buzz is wearing off

Wed, 11 Apr 2018 06:35:00 PDT

Has craft beer peaked? In one sign that the industry has grown less frothy, more craft breweries closed in 2017 than any time in the past decade.

And while the craft beer makers saw more growth in production than the overall market last year, their pace is slowing.

A new report by the Brewers Association...

Zuckerberg tells Congress 'we didn't do enough' to prevent privacy crises that rock Facebook

Tue, 10 Apr 2018 18:09:00 PDT

Facebook chief executive Mark Zuckerberg endured an hours-long grilling by dozens of U.S. senators Tuesday during which he repeatedly apologized and promised privacy reforms but also pointedly defended his company against the threat of new legislation.

Zuckerberg invoked Facebook's unlikely journey...

Did Cambridge Analytica get your Facebook data? Users are starting to find out

Tue, 10 Apr 2018 15:40:00 PDT

Hope Bertram is in digital marketing. She knows what can be done with a Facebook user’s data and is careful to protect her own. If she takes a quiz through the social media platform, she makes sure it’s only collecting basic information about her.

Her Facebook friends — or at least one of them...

2.5 million cubic yards of material to be dredged from Chesapeake Bay shipping channel

Tue, 10 Apr 2018 14:10:00 PDT

About 2.5 million cubic yards of mud, silt, sand and other material will be dredged from the Cape Henry Channel at the mouth of the Chesapeake Bay near Norfolk, Va. — an approach that’s used by shipping lines to reach the port of Baltimore — according to the U.S. Army Corps of Engineers.


Sinclair posts anti-CNN video on local affiliates' websites after promo backlash

Tue, 10 Apr 2018 14:05:00 PDT

Local affiliates of the Sinclair Broadcast Group have posted links on their websites to a YouTube video — with a message responding to last week’s criticism against the company after it aired comments on the perils of “fake” news.

Sinclair, the Hunt Valley-based broadcaster, did not respond to...

Home prices continue upward trend in March as sales falter

Tue, 10 Apr 2018 07:00:00 PDT

Home prices continued to rise in March even as the number of sales dropped amid weak supply, a new housing report finds.

The median price in the Baltimore metro area was $259,000, up 5.7 percent or $14,000, from a year ago and was the highest sales price in March of the decade, according to data...

Person struck by CSX train in Baltimore near Howard Street Tunnel

Tue, 10 Apr 2018 06:30:00 PDT

A man was struck by a CSX Transportation train near the Howard Street Tunnel in Baltimore early Tuesday, officials said.

The man’s identity was not released. He was taken to a hospital in “serious” condition after the incident, according to Fire Department spokeswoman Blair Skinner. The incident...

Women in Maryland earn 84 cents for every dollar earned by men

Mon, 9 Apr 2018 15:30:00 PDT

The gender gap in wages has widened by a penny in Maryland over the past two years, with women in the state typically paid 84 cents for every dollar paid to men, according to a study released Monday.

The wage difference means Maryland women who are employed full-time earn $10,074 on average less...

Wells Fargo reportedly facing huge fine for mortgage lending and auto insurance problems

Mon, 9 Apr 2018 13:50:00 PDT

The Consumer Financial Protection Bureau is considering fining Wells Fargo & Co. hundreds of millions of dollars for its mortgage-lending and auto-insurance abuses — following up on a threat by President Trump to take aggressive action against the bank.

The agency is in talks with the San Francisco...

Tru Hotel planned for Little Italy in 2019

Mon, 9 Apr 2018 13:30:00 PDT

Adding to the stock of hotels in Baltimore, Holladay Properties plans to build a Tru hotel near Little Italy that aims to cater to millennial travelers.

The Indiana-based developer plans to build the 140-room hotel, Maryland’s first Tru, a Hilton brand, in the 400 block of Central Avenue on an...

Macy's Backstage to open in White Marsh Mall and Annapolis Mall

Mon, 9 Apr 2018 12:55:00 PDT

Macy’s Backstage, the department store chain’s growing off-price, store-within-a-store concept, will open within Macy’s in White Marsh Mall and Westfield Annapolis Mall in June.

The retailer announced the Baltimore-area Macy’s Backstage openings Monday, along with others that will open in Centre...

Peak Management buys apartment complex in Pikesville

Mon, 9 Apr 2018 08:00:00 PDT

Peak Management, a White Marsh-based affiliate of Hill Management Services Inc., has added to its apartment portfolio with the purchase of Annen Woods in Pikesville for $24.5 million.

The acquisition, from Harbor Group Management, brings Peak’s total units to nearly 3,000 in the greater Baltimore...

White House sends mixed signals on trade fight; markets dive

Sat, 7 Apr 2018 17:29:00 PDT

The trade clash between President Donald Trump and China's government is escalating, with Beijing pledging to "counterattack with great strength" if Trump follows through on threats to impose tariffs on an additional $100 billion in Chinese goods.

Trump made his out-of-the-blue move when China...

Sinclair Broadcast Group defends promotional message, read by local anchors nationwide, that went viral

Sat, 7 Apr 2018 03:00:00 PDT

Facing a firestorm of criticism, Sinclair Broadcast Group spent last week defending a controversial on-air promotion in which its TV anchors across the country read identical scripts decrying “fake” news.

A video montage produced by website Deadspin, which shows anchors at local news stations warning...

Chesapeake Urology partners with Tennessee practice

Fri, 6 Apr 2018 13:45:00 PDT

Chesapeake Urology Associates said it has combined management services with a Tennessee firm in a partnership it hopes will give it more resources.

Under the agreement, Chesapeake Urology and Tennessee Urology Associates will continue to operate as separate companies. They will share a management...

Maryland's Amazon HQ2 incentive package leads the pack. Here's how other cities' proposals stack up.

Fri, 6 Apr 2018 12:45:00 PDT

Maryland lawmakers approved the so-called PRIME Act this week, an $8.5 billion package filled with credits, incentives and grants aimed at cementing a deal with Amazon for its second headquarters.

The package is the largest ever offered in Maryland, which has previously only offered deals topping...

Discounter Gabe's has opened in Eastpoint Mall in Dundalk

Fri, 6 Apr 2018 12:30:00 PDT

Discounter Gabe’s has opened a department store in Eastpoint Mall in Dundalk.

The retailer, which promotes everyday savings of up to 70 percent off other stores’ prices, is leasing more than 38,000 square feet in the former Shoppers World space as an anchor at the mall, owner MCB Real Estate announced...

Still haven't filed your taxes? Here's how to maximize your refund and keep your data safe

Fri, 6 Apr 2018 09:15:00 PDT

Good news for tax procrastinators: You have a little more time than you think to file your federal income tax forms.

Tax day this year is on Tuesday, April 17 because the usual deadline — April 15 — falls on a Sunday. And Monday, April 16 is Emancipation Day, a holiday observed in Washington, D.C.


Baltimore startup blends art and technology in helping amputees design personalized prosthetic covers

Fri, 6 Apr 2018 08:05:00 PDT

MICA grad's startup allows amputees to design and build their own prosthetic covers.

Weis Markets will open in Fullerton April 12

Fri, 6 Apr 2018 08:00:00 PDT

Weis Markets will open its planned Nottingham supermarket on Thursday, April 12, the Sunbury, Pa.,-based grocer said.

The more than 67,000-square-foot store will open in a redeveloped former Kmart space in Fullerton Plaza at 7927 Bel Air Road. It is the 52nd Maryland location for the grocer.


U.S. added modest 103K jobs in March, fewest in 6 months

Fri, 6 Apr 2018 06:35:00 PDT

U.S. employers added a modest 103,000 jobs in March after several months of robust gains, though the government's overall jobs report suggests that the labor market remains fundamentally healthy.

The unemployment rate remained at 4.1 percent, a 17-year low, for a sixth straight month, the Labor...

Five minutes with Leonard Frenkil Jr. of WPM Real Estate Management

Fri, 6 Apr 2018 05:00:00 PDT

Five Minutes with Leonard Frenkil Jr., president of multifamily real estate at WPM Real Estate Management.

Anti-Sinclair video montage scheduled to air in ad on Sinclair stations

Fri, 6 Apr 2018 03:00:00 PDT

An anti-Sinclair ad featuring a Deadspin video that mocks the Baltimore-based broadcaster could start running as early as Friday on four of the company’s stations including WBFF in Baltimore.

That’s according to Karl Frisch, executive director of Allied Progress, a Washington-based consumer advocacy...

Mother and daughter launch healthy snack company in Locust Point

Fri, 6 Apr 2018 03:00:00 PDT

Nancy Becker and Bridget Greaney are rewriting the recipe for healthy snacks from their kitchen in Locust Point.

The mother-daughter team recently launched 2Betties, a snack startup that offers mini-doughnut-shaped “rounds” without grains, dairy or added sugars. With three flavors, 2Betties is...

Wood bat or metal? New youth baseball rule tries to settle the debate. But it's expensive.

Fri, 6 Apr 2018 03:00:00 PDT

It's a baseball debate as old as the designated hitter: wood or metal? Now the amateur game's governing body has stepped to the plate this season with a new standard aimed at splitting the difference: metal engineered to perform like wood.

Downtown Partnership of Baltimore to add lane to Pratt Street at the Gallery at Harborplace

Thu, 5 Apr 2018 11:55:00 PDT

The Downtown Partnership of Baltimore said Thursday it has received permits and retained a contractor to add a traffic lane on the north side of Pratt Street between Calvert and South streets, removing a section of sidewalk and relocating a taxicab stand adjacent to the Gallery at Harborplace to...

From hour to hour, stock market swings have been dizzying

Thu, 5 Apr 2018 11:54:00 PDT

Like a good thriller, you can't be sure where the stock market is headed these days until the very end.

The market has become so volatile that big swings are happening not only day to day but hour to hour as investors react to a mix of hard news, fear and speculation.

Take Wednesday, for example....

Sidewalks in downtown Baltimore to get interactive information kiosks

Thu, 5 Apr 2018 10:15:00 PDT

Workers, residents and visitors to downtown Baltimore who need any information about events, things to do or city services will be able to tap any of 15 kiosks being installed on sidewalks around downtown beginning this summer.

The touch-screen kiosks, that resemble eight-foot-tall smart phones,...

Housing up, jobs down in Downtown Baltimore, new report shows

Thu, 5 Apr 2018 09:15:00 PDT

Downtown’s growth eased somewhat last year, with the number of residents and jobs dipping slightly, even as more apartments became available, according to the latest annual report from the Downtown Partnership of Baltimore.

Partnership officials used the State of Downtown presentation Thursday...

Maryland casinos set revenue record in March

Thu, 5 Apr 2018 08:15:00 PDT

Maryland’s six casinos combined to set a monthly revenue record in March, topping $150 million for the first time, according to the state’s gaming regulatory agency.

The casinos were led by MGM National Harbor, which generated $60.4 million from slots and table games — its most ever in a month,...

Analyst raises concerns about Under Armour's international growth — a bright spot for the struggling brand

Thu, 5 Apr 2018 08:10:00 PDT

As Under Armour feels the pinch of slow merchandise sales in it’s biggest geographic market — the United States — international sales growth has stood out as a bright spot for the struggling brand.

But one Wall Street analyst is raising concerns about the future of Under Armour’s global growth.