Maryland loses jobs in February, but state's unemployment rate remains 3.7 percent

Maryland lost 5,800 jobs in February, according to jobs data released Friday by the U.S. Department of Labor’s Bureau of Labor Statistics, though the state’s unemployment rate remained unchanged at 3.7 percent. The rate has remained steady since December but was down from 4.2 in February last year. The rate is just below the national rate of 3.8 percent. The number of people participating in the state’s labor force also ticked up slightly to just over 3.2 million, which makes this a “mixed report,” said Andy Bauer, a senior regional economist in the Baltimore branch of the Federal Reserve Bank of Richmond. (Balt. Sun)

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Women's influence in business grows

Women entrepreneurs make up a growing share of U.S. small business owners. The American Express 2018 State of Women-Owned Businesses report, which makes its projections based on data from the most recent U.S. Census Bureau Survey of Business Owners, estimates that they own 12.3 million companies in the U.S. — compare that to 1972 when there were only 402,000 women-owned businesses. Today, women employ more than 9.2 million people and generate $1.7 trillion in revenue. Last year, 1,821 women-owned businesses were launched every day. (Times-News)

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CVS stores in Maryland will soon sell CBD products

Maryland is among seven states where CVS stores will soon begin selling topical products infused with the hemp derivative CBD. The pharmacy chain will soon begin offering creams, lotions, sprays, roll-on products and salves containing CBD, a wellness ingredient used to treat ailments ranging from epilepsy and chronic pain to anxiety and insomnia. (Balt. Sun)

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Jim Davis' Redwood Capital buying Houston beer distributor

Redwood Capital Investments is expanding its portfolio with the purchase of the largest independent distributor of Anheuser-Busch beverages in the U.S. The acquisition of Houston-based Silver Eagle Distributors L.P. includes the company's corporate office and several warehouses in surrounding cities. Silver Eagle handles sales, marketing and distribution of Anheuser-Busch, Grupo Modelo and a wide variety domestic and import brands, microbrews and craft beers throughout 16 counties in Texas. (Balt. Bus Journal)

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Hotel owner charged with defrauding Maryland bank to secure loans

A hotel management company operator has been charged with submitting fraudulent loan applications to a Maryland bank to buy millions of dollars in commercial and residential properties. A court filing Thursday charged Mehul Ramesh Khatiwala of New Jersey with bank fraud and conspiracy to commit bank fraud. The filing, a criminal information, accuses Khatiwala of conspiring with an unnamed doctor and bank executive to defraud Cecil Bank by submitting false information in loan applications. (Balt. Sun)

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Boeing and FAA near completion of 737 Max 8 flight control system overhaul

Boeing and the Federal Aviation Administration are nearing completion of a long-awaited software and training overhaul for the 737 Max 8 commercial jetliner's flight control systems, both organizations confirmed Saturday. If the new changes are finalized and approved by the FAA on time, they could mark an early step toward remedying the safety concerns that have gripped the global aviation industry in recent months following deadly plane crashes in Indonesia and Ethiopia. (Balt. Sun)

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Johns Hopkins medical device spinoff raises $1.5 million

An Annapolis firm focused on building medical devices to monitor heart disease has raised $1.5 million to support clinical trials, as it works to bring its first product to market. Vixiar Medical Inc., a spinout of Johns Hopkins, is developing non-invasive devices and systems for monitoring cardiopulmonary diseases. The company said the new funding will be used to complete an ongoing clinical trial and to prepare for regulatory submissions for its first medical device. New investors in the round include New York-based Emerald Development Managers, MMG Opportunities and several individual investors. (Balt. Bus. Journal)

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These are the Baltimore Business Journal's 2019 Best Places to Work finalists

After months of gathering nominations and weeks of employee surveys, the results are in for our 2019 Best Places to Work finalists. The 40 companies are located all over Greater Baltimore and come from a variety of industries — from tech and medical cannabis to construction and advertising. Many of our finalists will be familiar but there are quite a few new names in the mix this year as well. But regardless of their differences, all those companies share the common goal of creating a business where employees love to work. (Balt. Bus. Journal)

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