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Apr 19, 2013

Poll: Public pessimism on economy is increasing

WASHINGTON — For the third year in a row, the nation’s economic recovery has hit a springtime soft spot. Reflecting that weakness, only 1 in 4 Americans now expects his or her own financial situation to improve over the next year, a new Associated Press-GfK poll shows. The sour mood is undermining support for President […]

Apr 18, 2013

Verizon rakes in wireless fees in 1Q

Shares of Verizon Communications Inc. hit a 12-year high Thursday after it posted another quarterly report that showed its wireless revenue rising at a rate that's the envy of the industry.

Apr 16, 2013

Severn Bancorp shows ‘modest’ profit

Severn Bancorp Inc., the parent company of Severn Savings Bank, reported first-quarter net income of $621,000, or 3 cents per diluted share, a 7.6 percent increase compared to net income of $577,000, or 2 cents per share, for the year-ago period.

Mar 21, 2013

T. Rowe Price unveils Social Security benefits evaluator

T. Rowe Price Inc., of Baltimore, a global investment management company, said it launched a new Social Security Benefits Evaluator to help individuals decide when and how to take Social Security, and how the federal social insurance program fits into their financial goals.

Mar 7, 2013

Household wealth regains pre-recession peak

WASHINGTON — It took 5½ years. Surging stock prices and steady home-price increases have finally allowed Americans to regain the $16 trillion in wealth they lost to the Great Recession. The gains are helping support the economy and could lead to further spending and growth. The Federal Reserve says household wealth amounted to $66.1 trillion […]

Feb 21, 2013

Wal-Mart outlook wary even as profit rises

NEW YORK — As the fortunes of many Americans go, so goes Wal-Mart. The world’s largest retailer on Thursday reported an 8.6 percent rise in fourth quarter profit due to a smaller tax rate, but the company offered a tempered forecast as the lower- to lower-middle income shoppers that it caters to struggle with delayed […]

Jan 17, 2013

PNC Financial 4Q profit rises 47 percent

PITTSBURGH — The PNC Financial Services Group Inc. said Thursday that its net income climbed 47 percent in the fourth quarter on an increase in loans and deposits and business expansion into more markets in the Southeast. The regional bank operator, the third-largest in Maryland, said its interest income increased, aided by its acquisition of […]

Jan 2, 2013

Taxes rising for most people despite fiscal deal

WASHINGTON — While the tax package that Congress passed New Year’s Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013. That’s because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. […]

Nov 30, 2012

Sandy slowed consumer spending, pay in October

WASHINGTON — Americans cut back on spending last month while their income remained flat. The weakness in part reflected disruptions from Superstorm Sandy that could slow economic growth for the rest of the year. The Commerce Department said Friday that consumer spending dropped 0.2 percent in October. It was the weakest figure since May, and […]

Nov 28, 2012

Jos. A. Bank reports 3Q drop in income

Jos. A. Bank Clothiers Inc. reported an 11.2 percent drop in net income during its fiscal third quarter, and analysts said the numbers reveal possible trouble brewing for the Hampstead-based men’s apparel company.

Oct 25, 2012

Under Armour’s 3Q profit up, but supply chain issues persist

Under Armour Inc.’s third quarter brought an increase in profit, the company said Thursday, but supply chain management issues continued to beleaguer the Baltimore-based performance athletic apparel firm.

Sep 28, 2012

Higher gas costs push consumer spending up

WASHINGTON — Americans boosted their spending in August even though their income barely grew. Much of the spending increase went to pay higher gas prices, which may have forced consumers to cut back elsewhere. The Commerce Department said Friday that consumer spending rose 0.5 percent in August from July. It was the biggest jump since […]

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