Maryland's $33.5 million settlement with Volkswagen in emission scandal could boost port of Baltimore

The state of Maryland’s $33.5 million deal with Volkswagen to settle claims that the German automaker polluted the air by bypassing emissions controls in its diesel cars also could bring its vehicles back to the port of Baltimore. Under the settlement announced Wednesday, Volkswagen must pay a $29 million civil penalty and enter into a five-year contract with a public or private auto terminal in the state to handle Volkswagens or pay an additional $4.5 million. (Balt. Sun)

Read Full Article

Hogan, other officials expected to attend June 21 groundbreaking for Marriott headquarters

A June 21 groundbreaking ceremony will mark the beginning of construction on the Marriott International headquarters in downtown Bethesda. Gov. Larry Hogan and other state and local officials are expected to attend the invitation-only event, celebrating the project to build the hotel company’s $600 million campus, a project spokeswoman said. (Bethesda)

Read Full Article

Union Craft Brewing has an opening date for its new home at Union Collective

One of the most anticipated openings on Baltimore's beer scene has set a date. Union Craft Brewing will officially open its doors at the Union Collective complex in Medfield on July 28, the brewery announced Wednesday. Union is anchoring the 138,000-square-foot redevelopment project, which will be home to a half-dozen other local businesses, including ice cream shop The Charmery, Huckle's Hot Sauce, Well Crafted Kitchen and Vent Coffee Roasters. (Balt. Bus. Journal)

Read Full Article

T. Rowe Price profit swells, thanks in part to tax reform

T. Rowe Price Group’s earnings surged 17.6 percent in the first quarter of 2018 to $453.7 million, driven partly by the big reduction in corporate tax rate. The Baltimore-based investment management firm’s effective tax rate fell to 24.1 percent from 37.1 percent under President Donald Trump’s tax reform. In the January-to-March period of 2017, T. Rowe Price earned $385.9 million. Per share earnings swelled to $1.77 per share from $1.54. (Balt. Sun)

Read Full Article

Legg Mason 4Q profit of $76.3 million beats Wall Street estimates

Legg Mason Inc. reported a $76.3 million profit in the fourth quarter, driven by higher assets under management and more revenue from performance fees. The Baltimore money manager, two years removed from reporting a $45 million loss in the fourth quarter, saw its profit rise half a percentage point compared to a $75.9 million profit in the year-ago quarter. Legg Mason's earnings rose to 86 cents per share, compared to 76 cents per share the prior year. (Balt. Bus. Journal)

Read Full Article

Little Italy film festival to move as developers eye its old site

The beloved Little Italy Open Air Film Festival will move to a new, larger location this summer as interested developers circle around the flat-surface parking lot in the heart of the community that for years has drawn thousands of movie buffs armed with lawn chairs, cannoli, popcorn and wine coolers. The film festival in July will move a couple of blocks east to open its 20th season at 210 S. Central Ave. inside a fenced parking lot at Stratford University. (Balt. Bus. Journal)

Read Full Article

Giada de Laurentiis restaurant at Baltimore's Horseshoe Casino to open in May

Celebrity chef Giada de Laurentiis’ restaurant at Baltimore’s Horseshoe Casino will make its debut next month. GDL Italian by Giada will be open to the public May 22, following a private grand opening party May 16. GDL Italian by Giada is de Laurentiis’ first establishment outside Las Vegas, and it will feature a blend of Italian and Californian flavors, relying on some local purveyors such as Roseda Farm, JJ McDonnell & Co. and Stone Mill Bakery. (Balt. Sun)

Read Full Article

Laureate Education sells U.S. health schools for $400 million

Laureate Education Inc. will sell its four health education schools that operate under the University of St. Augustine for Health Sciences name for $400 million, the Baltimore-based owner and operator of for-profit schools announced Wednesday. The University of St. Augustine is being acquired by Altas Partners, a Toronto-based investment firm. (Balt. Sun)

Read Full Article