3 local food brands release new products; A change in the city's skyline

Good morning Baltimore!

Temperatures will get up to the mid-70s today and Accuweather says we'll see "hazy sunshine." I guess summer has decided to show up.

Here's the news you need to start your week.

There was a change in the city's skyline recently — have you noticed?

The office and retail tower at 250 W. Pratt St. looks a little different right now. The top of the downtown skyscraper no longer bears the name "Pandora" as the global jewelry company is downsizing its corporate presence in Baltimore. However, it looks like the job wasn't fully completed as the building now holds only one, gigantic "P". Pandora plans to downsize to just 18,237 square feet and take its name off the tower but will stay in the city until at least 2026, a company spokesperson told the BBJ late last year. Pandora previously had 250 employees and occupied nearly 90,000 square feet in the building, where it has been located since 2015 when it moved its headquarters from Columbia.

Inflation keeps raising prices, but more slowly now

The Bureau of Labor Statistics is expected to report this morning that inflation rose just under 5% in April, compared with the year before, and .4% over March. It's not quite as bad as last year, but households and businesses will continue to feel the pressure of higher prices. For context, the consumer price index last summer hit 9.1% on a year-over-year basis. The Federal Reserve continues to increase interest rates to try and slow inflation, and last week raised its benchmark interest rate for the 10th time in 14 months, Washington Post reports.

Despite high living costs, employees shouldn't expect big raises in 2023

Employers have been budgeting only about 4.1% for salary increases in 2023, a record amount, but still lower than what most were expecting after 2022. According to ADP 's People at Work 2023 report, about 68% of American workers got a pay increase over the last 12 months, with an average increase of about 6.5%. The report also found most workers are expecting an average 6.7% pay increase this year.

Media education center for youth opens with support from local BOOST program

Media Rhythm Institute will open its new storefront at 20 N. Howard St. next week, the culmination of a two-year Black-Owned and Operated Storefront Tenancy (BOOST) program launched by the Downtown Partnership of Baltimore . MRI serves as an educational incubator to teach young people about the media and entertainment business by using STEM-based workforce training. The new space will serve as a gathering space for students, staff and others will see its grand opening on May 17, according to a release. The BOOST program, now in its second iteration, seeks to help Black-owned businesses and nonprofits scale up to open storefronts in Downtown Baltimore and the Bromo Arts District, simultaneously helping the high vacancy rate in those areas. Next up, BOOST will seek to fill space in Harborplace as it undergoes a major renovation.

Perdue Farms releases first-ever seasoning

Salisbury-based food and agriculture company Perdue Farms is debuting its first-ever, custom in-house seasoning: The Farmhouse Blend. Perdue, a family-owned, fourth-generation business, specializes in chicken and its new spice blend is designed for just that. The blend includes roasted garlic and herbs with a savory "essence of umami," according to a press release. Perdue says the blend is ideal for grilling season. The Farmhouse Blend is available online at Perdue's website.

Old Bay is bringing back its flavored Goldfish

Old Bay and Goldfish are teaming up once again to bring back their combined product for a limited time only. The Old Bay Seasoned Goldfish crackers will be available on grocery shelves later this month, but you can try your luck at getting them early on 味好美 's website, according to a release. (McCormick owns the Old Bay brand.) As part of the launch, Maryland-born singer-songwriter Lisa Loeb has done a recreation of her classic 1994 hit "Stay (I Missed You) — but with an Old Bay Goldfish twist.

Cholula adds new salsa and taco seasoning product lines

Cholula, a 味好美 brand, is launching six new products as part of a new product line expansion for the Hunt Valley company. Cholula will go beyond hot sauce to add salsas and taco seasonings. Salas include original, salsa verde and smoky chipotle, while the taco seasonings include original, smoky chipotle and chili garlic. The products will be available in grocery stores and as part of the release, Cholula is launching a limited-edition streetwear collection with UPRISERS, a clothing brand.

LinkedIn cuts 716 jobs

LinkedIn Corp. said Monday it is laying off 716 people and will also shut down its China app. The reorganization is part of the company's efforts to streamline operations and makes LinkedIn the latest legacy big tech company to have layoffs, following Meta Platforms, Google and Microsoft Corp. In the first quarter of 2023, LinkedIn's revenues rose 17% from the same period in 2022, but that growth shrank to 10% in the second quarter and then 8% in the third quarter, which ended in March. Believe it or not, LinkedIn just celebrated its 20th-anniversary last week, Silicon Valley Business Journal reports.

P.S. — A petit basset griffon Vendéen named Buddy Holly was named Best in Show at yesterday's 147th Westminster Kennel Club Dog Show.

This newsletter was written by Carley Milligan, Digital Editor at the Baltimore Business Journal. I can be reached at [email protected].?