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NEWS
May 24, 2010
Nearly lost in the shuffle of events last week was the semi-official word that Fort George G. Meade will be headquarters to the U.S. Cyber Command, the new unit that will lead the military's effort to defend against and mount computer attacks. Defense Secretary Robert M. Gates alluded to the decision Friday during ceremonies in which the director of the National Security Agency, U.S. Army Gen. Keith B. Alexander, was awarded his fourth star. The choice will be no great shock, as the NSA is already a key player in the nation's cyber defense efforts.
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BUSINESS
February 27, 2010
WASHINGTON - The economy is now likely expanding at just half the brisk 5.9 percent pace at which the government on Friday estimated it grew last quarter. Business spending will make up for some of a slowdown in consumer spending - but not likely enough to reduce the jobless rate much. In a fresh reading on the nation's economic standing, the Commerce Department bumped up its growth estimate for the final quarter of 2009, from a 5.7 percent growth rate estimated a month ago. It was the strongest showing in six years.
BUSINESS
January 26, 2010
200 new warehouse jobs to come to Harford Co. A northeastern furniture chain has chosen Harford County for its Mid-Atlantic distribution center and will eventually employ about 200 workers at the warehouse in Perryman. Bob's Discount Furniture, which began in 1991 in Newington, Conn., now runs 35 showrooms in seven states. It plans to open a warehouse in Perryman, along the U.S. 40 corridor, this summer. The facility will immediately employ 70, but plans to continue its expansion at the location and add to its work force.
BUSINESS
January 26, 2010
Legg Mason Inc.'s Bill Miller said the U.S. economy may grow as much as 10 percent this year, almost four times faster than companies and economists forecast, driven by a surge in corporate profits. With profits forecast to grow between 25 percent and 35 percent this year, economic growth should reach at least 7 percent, Miller said in his quarterly letter to investors Monday. That compares with a consensus forecast of 2.7 percent economic growth, he said, citing a Bloomberg survey of 58 firms.
BUSINESS
December 29, 2009
Constellation Energy Group announced Monday a $36 million contribution by Electricite de France to the company's foundation. The donation fulfills a commitment made within the nuclear joint venture agreement with the French company, which closed in November. In addition, Constellation will increase its charitable giving to one percent or more of its annual operating income, according to the announcement. The Constellation Energy Group Foundation supports programs and makes grants to nonprofit organizations in four focus areas: energy, education, economic growth and the environment.
BUSINESS
By Don Lee and Don Lee,Tribune Newspapers | September 26, 2009
PITTSBURGH - -World leaders pledged Friday to keep economic stimulus efforts going in order to nurture the tentative recovery. They also lent their support to a U.S. plan to restructure global growth by relying less on American consumers and more on domestic spending from export-dominant countries such as China. For the Obama administration, winning an agreement on its proposed Framework for Sustainable and Balanced Growth was a key objective at the Group of 20 summit. But analysts said the plan, while it called for member countries to review one another's economic policies, lacked an enforcement mechanism and would have little force in rectifying global imbalances.
BUSINESS
By Jamie Smith Hopkins and Jamie Smith Hopkins,jamie.smith.hopkins@baltsun.com | September 25, 2009
Economic growth slowed in the Baltimore region last year, but it was not among the nearly one-third of metro areas with contracting economies. That's what the Commerce Department estimates in a report released Thursday about gross domestic product in metro areas, a key measure of economic activity known commonly as GDP. The Baltimore-area economy grew 1.1 percent in 2008, compared with a 1.5 percent increase each of the previous two years. The figures are adjusted to account for the sapping power of inflation.
NEWS
February 27, 2009
President Barack Obama is expecting a breathtaking $1.75 trillion federal budget deficit for the coming fiscal year and making an even more amazing promise - to cut the annual shortfall in half by the end of his first term. Closing that deal will require all of the president's persuasive skills and a large measure of luck. It's a monumental task, and Mr. Obama is hoping for the current deep recession to end and brisk economic growth - twice the rate of the Bush years - to resume next year.
BUSINESS
By McClatchy-Tribune | January 31, 2009
WASHINGTON - As bad as yesterday's grim government report on economic growth was, it points to even worse times ahead. The collapse of exports, industrial production and the inability of companies to sell their products all portend an even deeper contraction as the U.S. and global economies sink further in the weeks and months ahead. The Commerce Department reported that the U.S. economy contracted 3.8 percent in the final three months of last year, the biggest such quarterly shrinkage in almost 27 years.
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