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After oil bust, Legg creating energy funds

Legg Mason is creating funds to invest in energy companies, joining the world’s biggest money managers in seeking opportunities after the price of oil plunged. “We have mandates related to specific clients, one-on-one client strategies around being opportunistic in the ...

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Pay increases inch up

Wages and benefits rose at a slightly healthier rate last year, a sign strong job gains could be forcing companies to pay a bit more for workers. The Labor Department said Friday that the employment cost index, which measures pay ...

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Sucampo drug heads for European OK

Sucampo Pharmaceuticals Inc., of Bethesda, announced the successful completion of the European Mutual Recognition Procedure for its Amitiza, a treatment of chronic idiopathic constipation. With Amitiza approved in the United Kingdom, the mutual recognition for Amitiza was filed in Austria, ...

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Severn Bancorp bounces back in quarter

Severn Bancorp Inc., parent company of Severn Savings Bank FSB, rebounded with a profit in the fourth quarter. Severn’s net income for the quarter ended Dec. 31 was $1.55 million, or 10 cents per share, compared with a net loss ...

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UM’s Smith School grows executive education

The University of Maryland’s Robert H. Smith School of Business grew its executive education program at three times the industrywide rate, according to a survey by the International Consortium for Executive Education. The Smith School’s executive activity grew by 22 ...

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Alibaba drops second straight day

Alibaba’s shares dropped about 9 percent on Thursday after the Chinese e-commerce powerhouse reported holiday-quarter revenue that surged 40 percent but missed analyst expectations. It was the second day of stock decline following news Wednesday that the Chinese government had ...

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