Business

Low-cost air carrier Frontier Airlines announced Tuesday introductory fares for new nonstop routes from Dallas Fort Worth International Airport (DFW) to Baltimore-Washington International Thurgood Marshall Airport (BWI) and four other destinations. Joining Frontier’s lineup of new nonstop routes include flights to Orange County, California (SNA), New York City (LGA), Raleigh-Durham, North Carolina (RDU) and Montego Bay, Jamaica (MBJ). With the new service, Frontier will serve a total of 19 destinations from DFW.

With war, inflation and electoral chaos preoccupying world leaders, the Biden administration is looking for corporations to take center stage as the U.N. Climate Change Conference gets underway in Sharm el-Sheikh, Egypt. At the summit, known as COP27, the administration and its partners will unveil a plan for private companies to finance the energy transition of developing countries, according to U.S. officials who spoke on the condition of anonymity because of the sensitivity of discussions. While government action typically dominates these talks, political paralysis and public pressure are pushing companies to step up with their own emission pledges — and money to help poorer countries bearing the brunt of climate change’s impacts.

Many employees remain reluctant to return to the office — even on a part-time basis as part of a hybrid workplace — and many managers plan to step up enforcement of attendance policies. That’s according to a new survey by technology firm Capterra, which found 74% of managers said they will factor office attendance into employee reviews. Another 46% said they have already cut or plan to cut pay or benefits for employees who did not comply with office attendance policies. Experts have warned employers about the risks of being too rigid with their hybrid setups due to the tight market for talent, but many believe companies will increase their focus on in-office time if the economy turns south after previously embracing a more laid-back approach during the hybrid shift.

The Office of Naval Research awarded Morgan State University a five-year, $9 million grant to address a critical Department of Defense (DoD) need for research in building diverse knowledge bases related to artificial intelligence and machine learning, especially with respect to cybersecurity. The resources will be administered through Morgan’s Division of Research and Economic Development (D-RED) to fund collaborative research conducted by the newly launched Center for Equitable Artificial Intelligence and Machine Learning Systems (CEAMLS) and the Cybersecurity Assurance & Policy Center. The centers will study the development of formal standards and best practices to test and design new AI and ML innovations that mitigate algorithmic bias.

The Covid-19 pandemic and the rescue programs that came with it have driven a surge of interest in tax credits, with small-business owners increasingly scouring for opportunities they may have overlooked in the past. The Small Business Administration’s Paycheck Protection Program, which gave out 11.3 million forgivable loans worth about $786 billion, as well as the Economic Injury Disaster Loan program and others, made it to clear to small-business owners they should pay attention to government programs and apply for the ones that fit them, said Brent Johnson, co-founder of Clarus Solutions, which helps businesses access federal employment tax credit programs.

Morgan Stanley plans to expand its presence in Baltimore’s Harbor Point, the landlord for the global financial services firm said Monday. Armada Hoffler said it has finalized a lease extension and expansion with Morgan Stanley at the company’s Thames Street Wharf office building. The firm leased an additional 46,000 square feet, bringing its total office space to 242,000-square-feet, and extended until 2035. Thames Street Wharf is now 100% occupied. A representative of Morgan Stanley could not be reached Monday. The company’s website describes the Baltimore office as one of its largest in the U.S. outside the New York headquarters. Morgan Stanley opened its Baltimore office in 2003 with 60 people, a number that has grown to close to 2,000 employees, according to the website.

Baltimore weight loss company Medifast Inc. plans to increase prices on all its products amid a drop in profits and a slowdown in revenue. Medifast (NYSE: MED) revenues declined in the third quarter by 5.6% to $390.4 million compared to $413.4 million a year ago. The company reported a profit of $36.2 million, or $3.27 per share, compared to $42 million, or $3.56 per share, a year ago, a drop of nearly 14%. On an adjusted basis, Medifast saw a profit of $36.8 million or $3.32 per share. The company also cut its full year outlook for both revenue and profit. The decline comes after a 15% jump in revenue in the second quarter and follows a year of massive growth for the Harbor East company when it hit a record $1.5 billion in sales. It marks the second straight quarter Medifast saw profits decline as inflation, supply chain and the cost of raw materials affected its bottom line.