Top DC-area business news in 2018

WASHINGTON — This past year was a big one for business.

It saw the departure of a major regional employer and the addition of another huge one. As some businesses grow in the region, others are closing.

Here is a look back at some of the top business highlights from the year:

Discovery Communications announces its departure from Silver Spring In January, Discovery Communications announced it would relocate its longtime Silver Spring, Maryland, headquarters to New York City as part of its acquisition of Food Network parent Scripps Networks Interactive. Discovery employed about 1,300 people locally, and it committed to keeping a presence in Maryland and Northern Virginia even after its headquarters relocation. (WTOP/Kate Ryan)
Bethesda-based Cava Group's expansion nationally was kicked into overdrive in August when it agreed to acquire Plano, Texas-based Mediterranean restaurant chain Zoe's Kitchen and its more than 260 restaurants for $300 million. (Courtesy Cava)
Cava acquires Zoe’s Kitchen for $300 million Fast-growing Mediterranean fast-casual restaurant chain Cava announced in August its $300 million acquisition of much larger fast casual chain Zoe’s Kitchen. The acquisition, which closed in November, vaulted Cava to more than 350 locations nationwide and more than 8,000 employees in 24 states. (Courtesy Cava) (Courtesy Cava)
Taylor Gourmet, Mile Isabella file for bankruptcy In October, popular D.C. sandwich chain Taylor Gourmet unexpectedly filed for Chapter 7 bankruptcy and closed its two dozen locations. And celebrity restaurateur Mike Isabella, who originally filed for bankruptcy reorganization this summer after settling sexual harassment allegations, in December converted his Mike Isabella Concepts business to Chapter 7 liquidation, saying there was no meaningful business to reorganize. (WTOP/John Aaron) (WTOP/John Aaron)
The soon-to-open branch in Anacostia, D.C. (Courtesy JPMorgan Chase)
JPMorgan Chase comes to Washington In November, JPMorgan Chase opened its first retail banking branch in the Washington area, and said it would open several others in the year to come and invest in the D.C.-area’s economy. JPMorgan pledged to open 70 new branches in the Washington and Baltimore markets and hire 700 employees, and committed to $4 billion in regional home and small business lending, $500 million to affordable rental housing and $25 million to philanthropy and for local economic growth. (Courtesy JPMorgan Chase) (Courtesy JPMorgan Chase)
This May 3, 2018, photo shows boxes on a conveyor belt during a tour of the Amazon fulfillment center in Aurora, Colo. The explosion in online shopping has led to porch pirates and stoop surfers swiping holiday packages from unsuspecting residents. The cops in one New Jersey city are trying to catch the thieves with some trickery of their own. (AP Photo/David Zalubowski)
Amazon chooses Northern Virginia for HQ2 Amazon made its decision about its big HQ2 location in November, announcing it would split the 50,000 jobs between Northern Virginia and Long Island City, New York. Amazon pledged 25,000 jobs for the Crystal City and Alexandria areas over the next 12 years in what is dubbed “National Landing,” and said those jobs would pay an average salary of $150,000. (AP Photo/David Zalubowski) (AP/David Zalubowski)
Vincent Napolitano
Stock market slump Wall Street’s 2018 performance was the worst for the markets in a decade, and the final month of the year was the worst December for the markets since 1931. A confluence of developments this year that the financial markets found troubling have included growing trade tensions between the U.S. and China, signs of a slowing global economy, rising interest rates in the U.S. and stock valuations for some of this year’s highflying tech stocks that hit record highs but may have soared past justifiable levels. As of market close on Thursday, Dec. 20, the Dow Jones industrial average was at a 14 month low and down more than 7.5 percent year to date. The S&P500 Index was negative 7.7 percent for the year. (AP Photo/Richard Drew) (AP/Richard Drew)
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Bethesda-based Cava Group's expansion nationally was kicked into overdrive in August when it agreed to acquire Plano, Texas-based Mediterranean restaurant chain Zoe's Kitchen and its more than 260 restaurants for $300 million. (Courtesy Cava)
The soon-to-open branch in Anacostia, D.C. (Courtesy JPMorgan Chase)
This May 3, 2018, photo shows boxes on a conveyor belt during a tour of the Amazon fulfillment center in Aurora, Colo. The explosion in online shopping has led to porch pirates and stoop surfers swiping holiday packages from unsuspecting residents. The cops in one New Jersey city are trying to catch the thieves with some trickery of their own. (AP Photo/David Zalubowski)
Vincent Napolitano

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