Business

Dailey Jogan was pleased to learn she would get $15 an hour and a handful of perks as the head swim coach for a metro Detroit team. Her older brother’s reaction looked more like surprise. At 18 years old, Jogan has spent the summer organizing meets as staff leader of the 250-person team. She also gets some freebies for facilities housed within the park where they practice, like access to the gym and a few comped tickets to the movie theater.

South Mountain Creamery in Middletown has been awarded more than $1 million in grants related to enhancing animal waste technology at the creamery’s farm by the state of Maryland and other organizations. On July 22, the Maryland Department of Agriculture announced South Mountain Creamery as the winner of an animal waste technology grant of more than $505,000.

Over the past year, the Maryland Department of Commerce has awarded more than 100 small and midsize Maryland companies with ExportMD grants to help promote their products and services in the global marketplace. In Washington County, Cornerstone Genomics and Land Cruiser Heaven have been awarded grants.

CareFirst BlueCross BlueShield has consolidated six office locations across D.C. into one new headquarters at the recently renovated Met Square building located at 655 15th Street in Northwest. The new headquarters does not reduce CareFirst’s footprint across D.C. but does incorporate the not-for-profit health care company’s hybrid work model, allowing employees from different locations to use the space as needed.

South Baltimore’s Yacht Basin Marina has been acquired by a local investment group with plans to construct 150 boat slips and a building on the Middle Branch. The newly named BYB Marina sits near the emerging Locke Landing townhome and apartment development at Port Covington next to Nick’s Fish House. The property sold for an undisclosed price to BYB Prop Real Estate Partners.

Meta Platforms (META.O), opens new tab beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signaling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. Shares of the company were up 6.8% after the bell. The Facebook and Instagram parent said it anticipates third-quarter revenue in the range of $38.5 billion to $41 billion, the midpoint of which is higher than analysts’ estimates of $39.1 billion, according to LSEG data.

Federal Reserve Chair Jerome Powell said Wednesday that the U.S. central bank could cut interest rates at its September meeting if economic data continues on its current path. “If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September,” Powell said. Recent economic data has pointed toward inflation data falling back toward the central bank’s 2% target, while the unemployment rate has crept up above 4%.