Monday, November 25, 2024 | Baltimore, MD
Baltimore, MD
41°
Clear
FOLLOW US:

Business

Why T. Rowe Price is doing its biggest acquisition ever

William J. Stromberg is ending his tenure as CEO of T. Rowe Price Group Inc. with a bang. The Baltimore-based money manager has already accomplished so much under Stromberg, who took over the top gig in 2016. The financial giant is moving ahead with plans to build a new headquarters in Harbor Point that will open in 2024. T. Rowe Price also entered the Fortune 500, opened its first office in mainland China and has a new investment adviser subsidiary set to launch in March.

Annapolis asks business owners, residents to prepare for high tides, strong winds coming to the city this weekend

The Halloween weekend in Annapolis will arrive alongside a mid-Atlantic weather disturbance that will bring strong winds, rainy conditions and unusually high tides, according to a news release from the City of Annapolis. The City of Annapolis is anticipating flooding conditions in low-lying areas and opened a sandbag operation on Dock Street Thursday morning for Annapolis residents and businesses. Bags may be limited based on demand.

Business newspaper pages
The Venetoulis Institute for Local Journalism Expands C-Suite With Executive Hires

The Venetoulis Institute for Local Journalism, a Baltimore based nonprofit organization focused on delivering high-quality local journalism to the Baltimore metro, recently announced the appointment of four industry veterans: Chief Marketing Officer Klas Uden, Chief Product Officer Shameel Arafin, Head of Technology Earl Cokley, and Andre Jones as Head of People, Culture and Diversity.

Read More: City Biz
Maryland launches tax credit program for early-stage companies

The Maryland Department of Commerce has launched a program of tax credits designed to help foster the growth of the state’s technology sectors by incentivizing investment in early-stage companies. The Maryland Innovation Investment Tax Credit program, which has $2 million in funding for fiscal year 2022, will also help increase overall investments in current and emerging tech sectors, and boost the number of individual investors in Maryland tech companies, state officials hope.

‘Willing to experiment’: Stewart Bainum unveils plans for a digital new site tuned to Baltimore

When The Baltimore Banner launches next year, its plan is to cover news of the Baltimore region intensely. Stewart Bainum Jr., the millionaire force behind it, just hired a top editor from The Los Angeles Times to lead the reporting–and says he expects her to take risks, “If we’re not willing to experiment and be willing to fail different experiments, this won’t succeed because there’s no map for making a local digital online news site financially stable and sustainable.’ Sheilah Kast is the host of On The Record, Monday-Friday, 9:30-10:00 am.

Read More: WYPR
Vaccine maker plans massive investment in plant near BWI in Maryland to produce even more therapies

A trio of workers in sterile suits wipe down a room full of large metal vats and other equipment. It could be the start to a small batch of an artisanal beer, but the brews made at this plant in Harmans near BWI Marshall Airport are far more life-altering. This is a Catalent manufacturing plant, where officials plan to announce a $230 million expansion Tuesday to their “suites,” or lines, where small amounts of the most advanced medical therapies are produced for some of the biggest pharmaceutical companies.

Read More: Baltimore Sun
Business newspaper pages
Bainum unveils plans for new Baltimore Banner news site — and hires Kimi Yoshino, a top L.A. Times editor, to run it

Stewart Bainum was a novice to the news business when his name first emerged earlier this year as a would-be savior. The Maryland hotel magnate made a bold bid to buy the Baltimore Sun and its parent, Tribune Publishing, in what he described as a mission to restore local ownership and keep the newspapers out of the hands of a hedge fund with a history of stringent cost-cutting at its media properties.

‘Shift happens’: Downtown Partnership announces campaign to keep businesses in the central business district

The Downtown Partnership of Baltimore will work to strengthen the appeal of the city’s central business district amid a recent wave of corporate departures to newer developments east of the Inner Harbor. “In thriving cities, shift happens,” Downtown Partnership President Shelonda Stokes told local business leaders and city officials gathered Tuesday night for the organization’s annual meeting at One Charles Center Plaza.

100 US dollar banknote money
Bank of America supports Civic Works, Caroline Center with financial surprise

Bank of America is surprising local organizations with big checks. The financial institution hopes to provide funding and leadership training to nonprofits while building up underserved neighborhoods. They didn’t just award one group in Baltimore, but two different local nonprofits. Lynn Selby, the executive director of the Caroline Center, thought she was just doing a normal interview about her organization.

Read More: WBAL-TV
Why this restaurateur says Maryland should adopt paid family and medical leave legislation

The last 18 months have been challenging for restaurants to say the least. We have had to deal with Covid-19 infections, lockdowns and mask mandates amid constant anxiety about keeping our business alive. As we recently celebrated Maryland Restaurant Week in the middle of another wave of infections, our business has figured out how to stay safe, continue to serve our customers and even expand. The No. 1 challenge now is finding and hanging onto good employees, a problem that has been well-documented by the media.

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.