Daily Briefing

DAILY BRIEFING

April 08, 2009

City ad agency merges with digital company

Baltimore-based advertising firm Azzam Jordan Inc. said it has merged with Tri-Media Integrated Marketing Technologies Inc., a digital marketing company that designs Web-based marketing projects. Azzam Jordan, which has Snyder's of Hanover, BWI Thurgood Marshall Airport and WJZ-TV among its clients, will provide creative and media services to Tri-Media's network of North American advertising agencies. Azzam Jordan's clients will have access to Tri-Media's online capabilities. Azzam Jordan, which has 20 employees, will continue to operate offices in Baltimore and Tampa, Fla. Tri-Media, based in Niagara, Ontario, has 72 employees.

Lorraine Mirabella

Consumer borrowing rate plunges in Feb.

WASHINGTON : Consumer borrowing plunged more than expected in February as Americans cut back their use of credit cards by a record amount. The Federal Reserve said Tuesday that consumer borrowing dropped at an annual rate of $7.48 billion in February, or 3.5 percent, from January. The decline was led by a record drop in borrowing on credit cards, which fell at an annual rate of $7.8 billion, or 9.7 percent. That is the sharpest drop in dollar terms since federal records began in 1968 and the steepest percentage fall since 1978.

Associated Press

Apple begins changes for iTunes prices

SEATTLE : The era of one-price-fits-all songs on iTunes came to an end Tuesday as Apple Inc., the Internet's dominant digital music retailer, began selling some of its most-downloaded songs for $1.29 apiece. Apple said in January that it would end its practice of selling all individual songs for 99 cents each and begin offering three tiers: 69 cents, 99 cents and $1.29. Recording companies pick the prices, much as they did for CDs sold in stores and online. Songs including "Jai Ho" from the Slumdog Millionaire soundtrack and "Single Ladies" by Beyonce were bumped up to $1.29.

Associated Press

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