Business

Sen. Elizabeth Warren, D-Mass., and three other Democratic lawmakers are pushing Federal Reserve Chairman Jerome Powell to lower interest rates at the upcoming Fed meeting to make housing more affordable. “As the Fed weighs its next steps in the new year, we urge you to consider the effects of your interest rate decisions on the housing market,” the senators wrote in a letter to Powell on Sunday.

The Maryland Economic Development Association (MEDA) Monday released findings from a study indicating that an estimated average of $9.17 in state and local tax revenue is generated for every dollar invested in county economic development operations in Maryland. The study, conducted in collaboration with the Business Economic and Community Outreach Network at Salisbury University (BEACON) and MEDA’s Public Policy Committee, utilized annual survey data collected over the past two years from local county economic development offices.

A Baltimore company that turns mushrooms into a meatless version of bacon will appear on the popular ABC show “Shark Tank” Friday night to try and woo its panel of celebrity investors. Meat the Mushroom founder Marvin Montague Jr. hopes the nationwide platform and the possible investment from one of the “sharks” can help the business put its products into 1,000 grocery stores by the end of the year.

Ryanair (RYA.I), has told Boeing (BA.N), that if any U.S. customers refuse to take delivery of 737 MAX 10 aircraft, that it would buy them “at the right price,” executives said on Monday. The Irish airline, Europe’s largest by passenger numbers, already has 150 firm orders for the MAX 10, the largest jet in the 737 family, and options for 150 more, with the first deliveries due in 2027.

After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. Both over 70, the Dragos are empty nesters, and like many of their generation, they’re trying to figure out how to downsize from their 3,000-square-foot, five-bedroom home. “We are here in a huge house with no family nearby, trying to make a wise decision, both financially and for our well-being,” said Dragos, a retired teacher.

Allegany County officials announced Thursday they are in the process of developing a grant program for downtown businesses. Several downtown businesses are struggling in the midst of an extensive 18-month construction project that has impeded access, caused water outages, and reduced customer patronage, according to multiple business owners. Dave Caporale, president of the Allegany County Board of Commissioners, announced the grant program at Thursday’s meeting of the board.

The 10-story 1 E. Pratt St. office tower near the Inner Harbor sold at a brisk foreclosure auction to an entity of Harborplace’s redevelopment team on Thursday for $25 million. The downtown landmark at Pratt and Light streets anchored by PNC Bank, Cushman & Wakefield, Gensler and Kona Grill sold to a single, unnamed bidder who Michael Nord, a trustee for the foreclosure, described as “the lender.” MCB Real Estate became the lender of the property last year after the firm acquired the note on the property.