Business

M&T Bank and Weave: The Social Fabric Project, a program of the Aspen Institute, announced that 20 Baltimoreans will each receive a $5,000 Weaver Award for projects that meet their community’s emotional need for connection and belonging. M&T Bank and the Weave project joined forces for the second year in a row to honor Baltimoreans who are weaving an inclusive social fabric.

Employees at the Mom’s Organic Market in Baltimore’s Hampden neighborhood have moved to form a union. According to a filing with the National Labor Review Board (NLRB), Teamsters Local 570 filed a petition for a representation election on behalf of the grocery store’s workers on Tuesday. The petitions can only be filed after signatures have been collected from at least 30% of workers in the potential bargaining unit and trigger a NLRB-conducted vote if they are not dismissed or withdrawn.

Washington Commanders owner Dan Snyder testified before a congressional committee investigating the NFL team’s history of workplace misconduct Thursday, speaking for hours in a deposition conducted virtually rather than a public hearing. A spokesperson for the U.S. House Committee on Oversight and Reform confirmed Snyder began giving his deposition around 8 a.m. Thursday. It was still going more than eight hours later.

A Baltimore company that provides custom materials for a wide variety of industries is launching a major expansion, adding a new 28,000-square-foot manufacturing plant that could eventually employ over 100 people in the Pigtown neighborhood. The planned new facility for manufacturing company Materic will open with around 60 staff members, company officials said.

T. Rowe Price Group Inc. definitely felt the hit from global equity markets suffering what CEO Rob Sharps called “the biggest quarterly decline since the start of the pandemic.” The Baltimore investment firm experienced a drop in profit and revenue in the second quarter compared to the same period a year ago and saw customers pull billions from funds.

Spirit Airlines Inc. leadership has agreed to a $3.8 billion acquisition from JetBlue Airways Corp. less than 24 hours after shareholders of the Miramar, Florida-based company rejected a merger with Frontier Airlines. Pending shareholder and regulatory approval, the all-cash deal adds up to between $33.50 and $34.50 a share, depending on when it closes.

Baltimore County-based Beynon Sports Surfaces Inc. already has an established reputation in its industry, having previously built tracks for New Balance and Nike. Now, the Hunt Valley company is laying down a track a little closer to home for one of those sportswear giants’ biggest competitors — Under Armour Inc. Beynon is building what is considered a centerpiece of the new Under Armour (NYSE: UAA) headquarters on the Port Covington development site, a track that will be part of a 1,400-seat track and field facility.

MedStar Health’s Montgomery County hospital just got a step closer to bringing an expanded $3 million cancer pavilion to its campus, thanks to an important donation from a longtime supporter. MedStar Montgomery Medical Center in Olney has received a $250,000 gift from Sandy Spring Bank to help fund the renovation of the facility’s existing cancer care space, designed to make care more accessible and less cumbersome for patients. It brings the project’s total financing to about $2.75 million, said T.J. Senker, the hospital’s president.

Facebook and Instagram’s parent company Meta posted its first revenue decline in history Thursday, dragged by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies. The company’s stock dropped slightly in after-hours trading following the results, suggesting Wall Street was largely expecting the weak earnings report.