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Md. high court: Net income controls workers’ comp for solos
Maryland’s high court ruled unanimously Wednesday that the “average weekly wage” of sole proprietors who elect coverage under the state’s workers’ compensation system is calculated based on their net profits and not gross revenue -- marking a defeat for single-person businesses.
Revenue dipping, Medifast plans new products
Medifast Inc. earned net income of $5.7 million, or 44 cents per diluted share, during the second quarter of this year, the Owings Mills company reported Thursday after market close.
S&P cuts Washington Post rating by 1 notch
NEW YORK — Standard & Poor’s cut the credit rating of the Washington Post Co. to “BBB” on Thursday, citing deteriorating performance at its Kaplan education unit and continuing declines […]
Best Buy 2Q profit drops 90 pct, misses estimates
NEW YORK — The news just keeps getting worse at Best Buy each day. To top off an already eventful several days for the nation’s largest consumer electronics retailer, Best […]
Treasury changes Fannie and Freddie bailout deal
WASHINGTON — The government is changing the terms of its bailout agreement with Fannie Mae and Freddie Mac in a way that will shrink the holdings of the two mortgage […]
Home Depot sees signs of improving housing market
ATLANTA — The Home Depot Inc. is feeling more optimistic about the recovery of the housing market after customers spent more on sprucing up their homes in the second quarter. […]
Freddie Mac posts $1.2B net income for 2Q
WASHINGTON — Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn’t requesting any additional federal aid for the period. The government rescued […]
Sinclair beats 2Q profit expectations; shares jump
TV station operator Sinclair Broadcast Group Inc. on Wednesday reported a second-quarter net income increase of 62 percent, due to political ad spending that was three times higher than the […]
T. Rowe Price’s second half to hinge on election year politics
Though Baltimore-based money manager T. Rowe Price Group Inc. reported an increase in income and revenue for the second quarter, the company’s performance in the second half of the year hinges on the politics of an election year and a national government that has failed to reach a budget compromise.
Under Armour lowers its projections for online sales
Under Armour Inc. executives said Tuesday they have lowered projections for online sales for the year as the Baltimore-based sports apparel company continues to have difficulty converting site visits to dollars.
McDonald’s showing signs of tear from economy
Not even McDonald’s Corp. has an iron stomach when it comes to the global economic downturn. The world’s largest hamburger chain has thrived in boom and bust times by selling […]
McCormick & Co. 2Q profit rises as prices climb
McCormick & Co. Inc. said Wednesday that its second-quarter net income rose 9 percent, buoyed in part by higher prices, strength in emerging markets and acquisitions. The Sparks-based spice and […]
