Business

T. Rowe Price Group Inc. continued to feel the impacts of a volatile market in the third quarter as investors pulled nearly $25 billion out of the firm’s funds. The Baltimore-based money manager reported on Thursday that it saw $24.6 billion in net client outflows during the quarter That number is greater than its outflows for the first two quarters of 2022 combined. Despite the outflows, T. Rowe Price’s revenue and profits beat Wall Street expectations, though both figures were down significantly compared to the year-ago period.

Brian Leibowitz eyes the newcomers on the courthouse steps with skepticism. They come every Thursday to bid on foreclosed homes at public auctions, pulling up properties on their cellphones and raising their hands if they see a deal that looks good on paper. Leibowitz, the director of acquisitions for a Baltimore real estate company, knows that making money here takes more than just adding up numbers.

Patagonia will open its Baltimore store — the outdoor clothing and gear retailer’s largest location yet — in early November. The company will celebrate its arrival in Charm City with a two-day grand opening celebration on Nov. 5 and 6, with the goal of introducing both the brand itself as well as Patagonia’s community engagement efforts, which are already underway.

Elon Musk attempted to soothe leery Twitter advertisers Thursday, a day before a deadline to close out on his $44 billion acquisition of the social media platform, saying that he is buying the platform to help humanity and doesn’t want it to become a “free-for-all hellscape.” The message appears aimed at addressing concerns among advertisers — Twitter’s chief source of revenue — that Musk’s plans to promote free speech by cutting back on moderating content will open the floodgates to more online toxicity and drive away users.

The Washington Metropolitan Area Transit Authority still has a $184.7 million gap to fill in the upcoming fiscal year’s operating budget, which is in the early stages of being developed. At a finance and capital committee meeting Thursday, officials from Metro’s financial office told board members of a few ideas they have about how to fill that gap in the fiscal 2024 budget, for the period starting in July 2023.

Johns Hopkins Medicine will continue to accept CareFirst BlueCross BlueShield insurance, ending a stalemate that threatened to cut off coverage for thousands of patients from some of the region’s most-sought-after medical providers. Hopkins and CareFirst, the state’s dominant insurer, said in a statement Wednesday morning that they had reached a multiyear contract that will ensure patients will remain “in network” when they see a Hopkins doctor.

Construction of a 165-unit affordable housing development will kick off Thursday in Park Heights as another component in the multi-year overhaul of the Northwest Baltimore community. The $48.5 million Cold Spring Lane project will add four stories of one, two and three-bedroom apartments to the neighborhood now being redesigned and redeveloped after years of neglect.