Business

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.

The Federal Trade Commission on Tuesday sharply criticized pharmacy benefit managers, saying in a scathing 71-page report that “these powerful middlemen may be profiting by inflating drug costs and squeezing Main Street pharmacies.” The regulator’s study signals a significant ramping up of its scrutiny of benefit managers under the agency’s chair, Lina Khan.

Target will no longer accept personal checks from shoppers as of July 15, another sign of how a once ubiquitous payment method is going the way of outmoded objects like floppy disks and the Rolodex. The Minneapolis-based discounter confirmed the move in a statement to The Associated Press on Tuesday, citing “extremely low volumes” of customers who still write checks.

More than 80% of businesses in Howard County employ less than 25 people, according to the county’s Economic Development Authority, and officials are working to support small local businesses by offering two programs intended to lure customers through their doors. Howard County Executive Calvin Ball recently announced two initiatives, Old Ellicott City Summer Bucks and Local HoCo, intended to encourage visitors to shop local.

THB Bagelry & Deli has acquired 1040 Cromwell Bridge Road, a single-story building containing 13,560 square feet of industrial/flex space in Towson for $2.55 million. Andrew Meeder, SIOR, Patrick Smith, SIOR and Chris Boland of MacKenzie Commercial Real Estate Services, LLC represented the unnamed private seller in this sales transaction.

JPMorgan Chase has made waves as it expands its retail banking presence in Baltimore, but it has also quietly been building up its private banking office. The J.P. Morgan Private Bank in Baltimore has hired six new employees at its Harbor East office this year, bringing the wealth management team’s total headcount to almost 30.