Business

It’s truly a new era for one of Buffalo, New York’s most prominent companies. New Era Cap received $700 million in funding from private equity investors, led by a D.C. firm, that will be used to fuel the company’s growth moving forward. Plus, Major League Baseball, the National Football League and the National Basketball Association will become minority owners.

McCormick & Company Inc. announced Thursday that its emission reduction targets have been officially approved by the Science Based Targets Initiative and are consistent with levels required to meet the goals set by the 2015 Paris Agreement. The Hunt Valley-based spice maker achieved its 2025 greenhouse gas commitments four years early for scope 1 and 2, and recently raised the ambition of its goals to reduce absolute scope 1, 2 and 3 greenhouse gas emissions by 42% by 2030.

Johns Hopkins Medicine has received $200 million in federal funding to head up a consortium aimed at treating and stemming the spread of one of the world’s oldest and deadliest scourges: tuberculosis. The money from the U.S. Agency for International Development, to be spent over the next five years, will boost research into diagnostics, treatments, transmission control and prevention of TB, a bacterial infection that normally infects the lungs.

Under Armour founder Kevin Plank made a rare public appearance for the company Wednesday to say the search for a new CEO is progressing, with a decision expected before the end of the year. Former CEO Patrik Frisk left the Baltimore-based athletic apparel maker June 1 after just more than two years at the helm and after engineering a recently completed multiyear turnaround.

Morgan State University has become the first four-year, historically Black university to join Amazon’s Career Choice program, per an announcement Wednesday. Amazon’s Career Choice program aims to give employees education opportunities through prepaid tuition that will help them progress in careers at Amazon or with other employers. Amazon has promised $1.2 billion to the program, an investment that will benefit more than 300,000 employees over the next three years. Currently, 15,000 Amazon employees work in the Baltimore area. Through the program, hourly Amazon employees in Maryland and neighboring states will be able to earn a degree and/or new skills at Morgan State.

The District of Columbia, Maryland and Virginia (the DMV) are in the early stages of a major energy transition. Fueled by climate change, technical and process innovation, and a population committed to responsibly stewarding our natural resources, the result will be a healthy and prosperous environment for all who live and work in the region. The DMV can demonstrate strong regional and national leadership in meeting climate goals and objectives by delivering the next generation of the energy ecosystem. This will create economic growth and establish thousands of high-quality jobs and safer environments throughout our region, including for our most distressed communities.

Soon after moving to Owings Mills, John Creger noticed: “There’s nowhere to eat around here.” That will soon change, says Creger, head chef at The Tillery, a new bar and restaurant inside the Marriott Owings Mills Metro Centre. “We’re about to put Owings Mills on the map.”

Under Armour Inc. on Wednesday reported fiscal first-quarter profit of $7.7 million. The Baltimore-based athletic apparel company said it had profit of 2 cents per share and earnings, adjusted for non-recurring costs, came to 3 cents per share. The results matched Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was also for earnings of 3 cents per share.