Sign In
Free Newsletter
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 […]
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.
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.
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.
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 […]
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 […]
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 […]
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. […]
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 […]
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.
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.
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 […]
