Business

Power went out for a time Saturday at BWI Marshall Airport, stranding passengers on grounded airplanes and in the terminal. The air traffic control tower was “briefly evacuated,” a spokesman for the Federal Aviation Administration said. A power outage occurred about 5:30 p.m. and “impacted” the airport, a BWI spokesman said. He said power was “fully restored” about two hours later.

Carroll Community College will establish an applied technology and trades center, funded with a $2.8 million grant from the Philip E. & Carole R. Ratcliffe Foundation. Although a lease for the building that will house the program has not been finalized, the facility is expected to be operational by spring, said Kelly Koermer, vice president of Workforce, Business & Community Education at the college .

A massive new hospital planned on the Eastern Shore is now one step closer to reality after clearing a major regulatory hurdle. The University of Maryland Shore Regional Health’s rate application request for a new medical center in Easton was approved by the Maryland Health Services Cost Review Commission on Wednesday. The approval is the final step for the University of Maryland Medical System, the hospital’s owner, as it prepares to start site preparation work at 10000 Longwoods Road later this month.

A local artificial intelligence company is banking on the surging demand for infrastructure improvements nationwide to continue its impressive growth.  Columbia-based company Rekor Systems Inc. (NASDAQ: REKR) creates machine learning technology that allows its customers to monitor traffic, capture vehicle descriptions and collect real-time roadway data. Rekor saw its revenue jump from $19.9 million in 2022 to $34.9 million in 2023 — a 75% bump.

JPMorgan Chase on Friday posted second-quarter profit and revenue that topped analysts’ expectations as investment banking fees surged 52% from a year earlier. Here’s what the company reported: Earnings: $4.26 per share adjusted vs. $4.19 estimate of analysts surveyed by LSEG. Revenue: $50.99 billion vs. $49.87 billion estimate. The bank said earnings jumped 25% from the year-earlier period to $18.15 billion, or $6.12 per share. Excluding items related to the bank’s stake in Visa, profit was $4.26 per share.

More than two years after Cafe Hon closed on The Avenue in Hampden, there are signs that a new restaurant may be close to taking its place. The Baltimore Liquor Board recently posted a notice in the front window of 1000 W. 36th Street, where Cafe Hon operated for 30 years, saying that the board has received an application for a new restaurant license and will hold a public hearing in City Hall sometime “on or after” July 4.

A widely anticipated inflation report on Thursday may solidify expectations for the Federal Reserve to cut interest rates in coming months. The consumer price index, or CPI, report for June is due out at 8:30 a.m. ET. Recent economic releases have suggested that inflation and economic growth are both cooling, including last week’s report that unemployment in June ticked up to 4.1%.

Johns Hopkins University is renovating its School of Education to modernize an over 100-year-old building and integrate artificial intelligence into education. The renovations will cost approximately $40 million, according to a Hopkins spokesperson. The upgrades to the building at 2800 N. Charles St. were designed by Hord Coplan Macht, with construction kicking off this spring.