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Money - Baltimore Sun



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



Published: Thu, 14 Apr 2016 22:35:09 GMT

Last Build Date: Thu, 14 Apr 2016 22:35:09 GMT

Copyright: ©2016 Baltimore Sun
 



Tax preparation chains 'target' the working poor and overcharge, Hopkins study finds

Thu, 14 Apr 2016 22:25:01 GMT

National tax preparation chains are disproportionately clustered in low-income neighborhoods, where they charge high fees and make frequent errors, according to a Johns Hopkins University study released Thursday.

The researchers found that low-income workers in Baltimore and Washington eligible...




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Still need more time? How to file a tax extension

Thu, 14 Apr 2016 17:03:00 GMT

Procrastinators rejoice: tax day is a bit later this year and if you still can't make that, there's still time to file for an extension.

The IRS traditionally requires that taxes be filed each year on April 15, but because that falls on Emancipation Day this year, the deadline was extended to April...




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BNote, Baltimore's local currency, adds new denominations featuring women

Thu, 14 Apr 2016 15:36:00 GMT

The creators of the Baltimore BNote, the city's local currency, unveiled a second iteration Thursday featuring two notable local women on new $10 and $20 bills and a redesign of the existing $1 and $5 bills.

The new $20 bill features Lillie May Carroll Jackson — a civil rights activist and former...




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Average U.S. rate on 30-year mortgage slips to 3.58 percent

Thu, 14 Apr 2016 15:29:00 GMT

Average long-term U.S. mortgage rates edged down this week to their lowest levels of the year, offering a continued incentive for purchasing during the spring home-buying season.

The benchmark 30-year fixed-rate loan touched its lowest point in nearly three years, since May 2013. Mortgage buyer...




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Legg Mason completes acquisition of Clarion Partners

Wed, 13 Apr 2016 19:53:19 GMT

Legg Mason said Wednesday it has completed a roughly $577 million deal to buy a majority stake in a New York real estate investment firm.

The Baltimore-based money manager announced the agreement to buy about 82 percent of Clarion Partners in January. Clarion's leaders own the remainder of the firm,...




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Nelson Peltz sells stake in Legg Mason to Singapore investment firm

Tue, 12 Apr 2016 23:23:16 GMT

Legg Mason found itself Tuesday morning with a new largest shareholder as activist investor Nelson Peltz sold off much of his firm's stake to a Singapore-based investment holding company.

Shanda Group purchased nearly 10 percent of the Baltimore-based wealth management company's common stock for...




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Baltimore home prices increase 3.2 percent as sales activity rises

Mon, 11 Apr 2016 23:21:23 GMT

Home sales in the Baltimore area saw some of the strongest price appreciation in two years in March, with homes in Baltimore City leading the way, according to a report released Monday.

The median sales price in the metro region increased 3.2 percent year-over-year to $237,350 last month, as sales...




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Maryland women earn 85 cents for every dollar paid to men, study finds

Mon, 11 Apr 2016 22:23:47 GMT

Women in Maryland are paid 85 cents for every dollar men earn, an annual pay gap of more than $8,600, a study released Monday showed.

The analysis by the National Partnership for Women & Families, timed for Equal Pay Day on Tuesday and based on U.S. Census Bureau data, looked at pay of full-time,...




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Stricter standards on the way for retirement account advisers

Sat, 09 Apr 2016 07:00:00 GMT

Most investors likely assume their advisers consider their clients' best interests to guide their investments, but that hasn't been required under federal rules for financial professionals.

That's about to change.

A new rule, unveiled last week by the U.S. Department of Labor, will hold advisers...




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UK's Premier Foods agrees to talks after McCormick's latest bid

Thu, 31 Mar 2016 00:07:30 GMT

McCormick & Co. is trying to pull off its largest acquisition ever and expand its global footprint, extending a $2.2 billion takeover proposal on Wednesday for a British company that makes cake mixes, gravy and rice pudding.

The Sparks-based spice maker has been rebuffed twice by Premier Foods,...




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Legislative action leads to large reduction in Baltimore homeowners facing tax sale

Mon, 28 Mar 2016 18:23:39 GMT

The number of owner-occupied homes threatened with tax sale in Baltimore has fallen 40 percent this year, after the state legislature increased the minimum debt that would trigger a sale, according to an analysis for the Abell Foundation.

The law — which increased the minimum debt that would trigger...




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Here's why Maryland gas prices are climbing back to $2

Sun, 20 Mar 2016 15:57:00 GMT

Maryland motorists have watched in despair in recent weeks as gas prices climb back toward the once-desirable $2 threshold.

AAA Mid-Atlantic said Friday in a report that the average price of a gallon of regular unleaded gas in Maryland was $1.98, up from $1.88 a week ago.

Analysts say gas prices...




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T. Rowe Price takes stand against stock structures that create unequal shareholder rights

Sat, 19 Mar 2016 07:00:00 GMT

T. Rowe Price Group says it's troubled by the growing number of public companies with two or more classes of stock that give a few insiders disproportionate voting rights.

In what experts in corporate governance believe is a first by a major money management firm, Baltimore-based T. Rowe is taking...




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Despite decade of downsizing in Baltimore, Legg Mason remains committed to city

Mon, 14 Mar 2016 14:46:53 GMT

Money manager Legg Mason's name is emblazoned on one of Baltimore's newest skyscrapers, but the prominence obscures that the company's workforce in the city is about a third of what it was in 2005.

Legg employs about 330 people in Baltimore today, down from 1,200 in the city and 900 elsewhere in...




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WellDoc announces investment, collaboration with Johnson & Johnson

Wed, 02 Mar 2016 00:36:00 GMT

A Baltimore health technology company that has developed an app to help manage diabetes said Tuesday it has raised more than $29 million in a series B financing round, with an investment by Johnson & Johnson.

WellDoc also said it has an agreement to integrate its BlueStar app into products from...




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Head of Richmond Fed says further rate hikes still warranted

Wed, 24 Feb 2016 17:48:00 GMT

The president of the Federal Reserve Bank of Richmond said in a speech in Baltimore Wednesday that the central bank's most important charge is to manage inflation, arguing that its abilities to affect real economic activity in other ways are limited or overstep its authority.

Jeffrey Lacker's remarks...




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Abell Foundation invests in eye scanner firm

Tue, 23 Feb 2016 23:28:10 GMT

The Abell Foundation announced Tuesday that it has invested $250,000 in Vasoptic Medical Inc., a Baltimore-based firm that's developing a portable retinal imager to make it easier to monitor diabetes and diseases of the eye.

Vasoptic moved into Baltimore from Columbia in August after a $250,000...




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Hardesty Capital Management changes name to Tufton Capital Management

Tue, 23 Feb 2016 21:27:00 GMT

Hunt Valley-based Hardesty Capital Management, which manages nearly $1 billion in assets for clients, changed its name Tuesday to Tufton Capital Management.

The new name is meant to reflect the office's location in the Tufton Valley in northern Baltimore County. Jim Hardesty, who founded the company...




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Baltimore startup Protenus raises $4 million in venture capital

Tue, 16 Feb 2016 23:20:00 GMT

A Baltimore-based startup offering privacy tools for electronic medical records announced Tuesday it had raised $4 million in a fundraising round.

Protenus received funding from a group of investors led by Arthur Ventures, an early stage venture capital firm with offices in Fargo, N.D., and Minneapolis....




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Consumer Federation questions price increases on universal life insurance

Mon, 01 Feb 2016 23:58:32 GMT

A consumer advocacy group says insurers may be raising rates unfairly on some universal life insurance polices and is asking for a review by state insurance commissioners.

The Consumer Federation of America said it found that at least three insurers, including Baltimore-based Transamerica, have...




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