Legg Mason earnings edge up even as assets under management slide


Legg Mason reported Wednesday that its earnings in the final quarter of its fiscal year ended March 31 edged up to $76.3 million.

That’s up half a percent from $75.9 million in the January-to-March period last year.

Per share earnings, however, were up a dime to 86 cents, reflecting a sharp reduction…



Laureate Education sells U.S. health schools for $400 million


Laureate Education Inc. will sell its four health education schools that operate under the University of St. Augustine for Health Sciences name for $400 million, the Baltimore-based owner and operator of for-profit schools announced Wednesday.

The University of St. Augustine is being acquired by…


Maryland’s $33.5 million settlement with Volkswagen in emission scandal could boost port of Baltimore


The port of Baltimore stands to benefit from a $33.5 million agreement between Volkswagen and the state of Maryland to settle claims that the German automaker polluted the air by bypassing emissions controls in its cars.

Volkswagen committed to entering into a five-year contract worth at least…


Audi recalls about 1.2M vehicles; coolant pumps can overheat and catch fire


Audi is recalling about 1.2 million cars and SUVs worldwide because the electric coolant pumps can overeat and possibly cause a fire.

The recall covers the 2013 to 2016 A4, the 2013 to 2017 A5, the 2012 to 2015 A6, and the Q5 SUV from 2013 to 2017. All have 2-Liter turbocharged engines.

The Volkswagen…


T. Rowe Price profit swells, thanks in part to tax reform


T. Rowe Price Group’s earnings surged 17.6 percent in the first quarter of 2018 to $453.7 million, driven partly by the big reduction in corporate tax rate.

The Baltimore-based investment management firm’s tax rate fell to 21 percent from 35 percent under President Donald Trump’s tax reform.



Sinclair Broadcast, Tribune Media announce plans to sell TV stations to move merger forward


Sinclair Broadcast Group and Tribune Media announced plans Tuesday to sell 23 television stations after they merge as part of their campaign to get the deal approved by federal regulators.

The stations would be sold to six different buyers, including a Towson auto dealer and investor, Baltimore-based…


McCormick Media may look to buy more Tronc shares beyond Ferro’s 25% stake


McCormick Media, an investor group that struck a deal earlier this month to acquire former Tronc Chairman Michael Ferro’s entire stake in the company, may be looking to buy more of the Chicago-based newspaper chain.

In a filing with the Securities and Exchange Commission on Monday, McCormick Media…