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Service firms grew at slightly faster pace
WASHINGTON — Service firms that employ 90 percent of the U.S. work force expanded at a slightly faster pace in August. But the sector remains too weak to help an economy that is barely growing and struggling to create jobs. The Institute for Supply Management said Tuesday that its index for service companies rose to […]
Strong auto demand lifts July factory orders
WASHINGTON — U.S. factory orders rose strongly in July on the biggest jump in demand for autos in more than eight years and a surge in commercial airplane orders. The increase suggests supply chain disruptions created by the Japan crisis are easing. Factory orders climbed 2.4 percent, the largest increase since March, the Commerce Department […]
Federal spending fuels Southern Maryland
LA PLATA — In a business park of red brick buildings and ornate marble fountains, programmers at Zekiah Technologies are engineering the next generation of software that will help the U.S. government and military respond to natural disasters and terrorist attacks. Zekiah’s neighbors include defense industry giant Scientific Applications International Corp. and Facchina, a family […]
Is economic recovery sliding into stupor?
WASHINGTON — Shoppers won’t shop. Companies won’t hire. The government won’t spend on economic stimulus — it’s cutting instead. And the Federal Reserve is reluctant to do anything more. Without much to invigorate growth, the economy may be in danger of slipping into a stupor like the one Japan has failed to shake off for […]
Columbia Mall continues its evolution as it turns 40
Some things just get better with age — fine wine, a chunk of bleu cheese. And with the right vision and planning, a shopping mall. That’s been the case for the Mall in Columbia, said many patrons Tuesday as they bustled from store to store and enjoyed the day-long festivities honoring the mall’s 40th anniversary. […]
Manufacturing growth hits lowest level in 2 years
WASHINGTON — Manufacturers had their weakest growth in two years in July, a sign that the economy could weaken this summer. The Institute for Supply Management, a trade group of purchasing executives, said Monday that its index of manufacturing activity fell to 50.9 percent in July from 55.3 percent in June. The reading was the […]
New Enterprise Associates plans to open N.Y. office
New Enterprise Associates, a venture capital firm with offices in Chevy Chase, Timonium and Menlo Park, Calif., said it plans to open an office in New York City. “A New York office will allow us to work more effectively in partnering with entrepreneurs and to continue to aggressively seek new investment opportunities in high-growth consumer […]
Boeing: India will need 1,320 new planes
NEW DELHI — Boeing has forecast a $150 billion market for passenger airplanes in India over the next 20 years driven by a booming economy. Indian airlines will need to buy around 1,320 new airplanes to meet the demand of an expanding aviation sector, Boeing India President Dinesh Keskar said in a statement Wednesday. “Robust […]
Job-seekers descend on Power Plant Live!
Power Plant Live! was the place to be late Wednesday afternoon for hundreds of teenagers, 20-somethings and middle-aged adults. But the résumé-toting individuals weren’t enjoying a round of drinks — they just wanted to land a job. On the heels of The Cordish Cos.’ multimillion dollar investment into the popular downtown entertainment and dining district, […]
Tech guru Pike Powers says Harford can be major center
Harford County may not be a major metropolis, but economic development expert Pike Powers is convinced that by taking advantage of the Base Realignment and Closure process and expanding the county’s connections with nearby research universities, the area can become a major technological center in the coming years. Powers, who is often credited with being […]
‘Beige Book’ shows U.S. economy is slowing
WASHINGTON — For the first time this year, the economy has slowed in several U.S. regions, burdened by high gas prices that have weakened consumer spending and crises in Japan that reduced manufacturing output. All 12 of the Federal Reserve’s bank regions grew this spring. But four of the regions suffered slower growth in April […]
Economists: Lower growth, higher oil prices coming
NEW YORK — Economists are dialing back their expectations for U.S. economic growth this year. A survey from the National Association for Business Economics predicts GDP will grow 2.8 percent this year — down from the group’s February prediction that it would grow 3.3 percent. Their outlook for consumer spending and the housing market also […]
