Kimberly Redmond | |

Under Armour Inc (NYSE: UA, UAA) plans to raise its minimum wage for US and Canada-based hourly workers in an effort to attract more talent, the Baltimore-based sports apparel maker announced Wednesday.

Starting June 6, Under Armour’s US hourly workers will get a minimum wage raise from $10 per hour to $15 per hour, while those in Canada will see a pay bump to C$15.25 per hour.

Kimberly Redmond | |

JPMorgan Chase & Co (NYSE: JPM) has named Marianne Lake and Jennifer Piepszak to co-head the company’s massive consumer banking business after its long-time manager, Gordon Smith, announced his retirement.

In a press release Tuesday, JPMorgan said Lake, the head of the bank's consumer lending business and chief financial officer for several years until recently, and current chief financial officer Piepszak will become co-chief executive officers of the consumer finance division, effective immediately.

Kimberly Redmond | |

The US Securities and Exchange Commission (SEC) is investigating California-based electric vehicle startup Canoo Inc (Nasdaq: GOEV), which went public in December 2020 following a merger with special purpose acquisition company (SPAC) Hennessy Capital Acquisition Corp.

According to Canoo's Form 10-Q for the first quarter filed on Monday, the “fact-finding inquiry” will cover Hennessy’s initial public offering and merger with Canoo, along with Canoo’s “operations, business model, revenues, revenue strategy, customer agreements, earnings and other related topics.”

Kimberly Redmond | |

Teenagers can now use a new no-fee service from Fidelity Investments to save, spend and invest their money. On Tuesday, the firm unveiled its Youth Account offering, which will enable 13- to 17-year-olds to deposit cash and have a debit card, as well as buy and sell US stocks, Fidelity mutual funds and many exchange-traded funds.

Reuters | | Inc was hit on Wednesday with five new lawsuits by women who worked in corporate or warehouse management roles, and accused the online retailer of gender bias, racial bias or both.

The women, ages 23 to 64, accused Amazon of favoring men over women in career growth, allowing supervisors to denigrate them, and retaliating after they complained.

Reuters | |

Cisco Systems Inc on Wednesday cautioned that supply chain issues will linger through the end of 2021 and forecast its current-quarter profit below estimates, sending shares of the network gear maker down 5%.

The warning comes as all tech companies are facing a global chip shortage.

Kimberly Redmond | | Inc (Nasdaq: AMZN) is in discussions to acquire MGM Holdings, the parent company of Metro-Goldwyn-Mayer Studios, for $9 billion, according to reports.

Variety reported Monday that the tech giant has been negotiating a deal for “weeks” and that talks are being handled by Mike Hopkins, senior vice president of Amazon Studios and Prime Video and MGM’s board chairman Kevin Ulrich.

AP News | |

Air France-KLM is sending into the air what it calls its first long-haul flight with sustainable aviation fuel Tuesday. The plane is said to be using petroleum mixed with a synthetic jet fuel derived from waste cooking oils.

The company said the move toward sustainable aviation fuel or SAF is to support the creation of an industry that guarantees increasingly eco-responsible air transport. The jet is flying from Paris to Montreal, with a fuel mixture including 16% of sustainable fuel.

Reuters | |

Bank of America plans to raise its minimum wage for U.S. workers to $25 an hour by 2025, the latest among major firms promising to pay employees more after a year of pandemic risks and government subsidies that fueled conversations on whether companies pay their workers enough.

Bank of America's announcement on Tuesday went further than other companies with large U.S. workforces in the retail space. The figure was higher than at competitors, and the second-largest U.S. bank is also requiring its vendors to set a minimum wage of $15 an hour.

Kimberly Redmond | |

Two great-great grandchildren of Ford Motor Company founder Henry Ford were appointed to seats on the 118-year-old automaker’s board of directors.

Henry Ford III, 40, and Alexandra Ford English, 33, were nominated in March to stand for election at the company’s virtual annual shareholder meeting, which was held Thursday, The Detroit Free Press reported.