Md. outpaces national rate
Exports of Maryland products rose nearly 18 percent to $8.9 billion last year, outpacing the national growth rate, as a weak dollar drove international demand for U.S. goods. Top Maryland exports included transportation equipment, chemicals, computers and electronics, machinery and fabricated metal products.
Oil futures top $100
Oil futures shot higher, closing above $100 for the first time as investors bet that crude prices would keep climbing despite evidence of plentiful supplies and falling demand. At the pump, gas prices rose further above $3 a gallon. There was no single driver behind the sharp rise in the price of oil; it could be a bad omen for consumers.
BWI to lose flights to Africa
Baltimore-Washington International Thurgood Marshall Airport will lose its flights to Africa in May, when North American Airlines cuts service to Lagos, Nigeria, and Accra, Ghana. It is the latest blow to BWI's efforts to bolster its international service. Rising fuel costs and competition forced North American to end all commercial service.
McCormick buys Billy Bee
McCormick & Co. Inc. has bought Canada's Billy Bee Honey Products for $75 million in cash. The deal adds to a list of companies McCormick has snapped up during the past five years, solidifying a strategy of buying well-known brands that aim to make customers' lives easier by simplifying the cooking process and adding flavor.
State orders CEG to hearing
State utility regulators ordered lawyers for Constellation Energy Group to appear at a hearing scheduled for Tuesday to discuss disputed terms of a 1999 deal to open Maryland's power market to competition. The order comes after Constellation frustrated the Public Service Commission by not appearing at a similar hearing Feb. 6.