Business

The chief executive of Emergent BioSolutions Inc. (NYSE: EBS) has stepped down. Bob Kramer, Emergent’s president and CEO since spring 2019 and a longtime executive with the Gaithersburg biotech, notified its board of directors Friday he would be retiring from his positions the next day, according to documents filed with the Securities and Exchange Commission. Kramer intends to stay on as an adviser to the company until Aug. 1.

A Baltimore County cannabis company is alleging that a Canadian company stole millions from its coffers and used the funds to finance its other struggling businesses. In a federal lawsuit filed June 20 in U.S. District Court, LMS Wellness, Benefit LLC, which runs a dispensary in Baltimore County called “Health for Life White Marsh,” alleges that Canada-based iAnthus Capital Holdings and its subsidiary S8 Management LLC stole more than $4.5 million from the company through unlawful transfers while also making “false claims” about how those funds were being used.

Columbia-based defense security firm Hopr Tuesday announced the availability of its’ API Threat Protection and Access Control solution in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors that make it easy to find, test, buy and deploy software that runs on Amazon Web Services (AWS). With AWS Marketplace availability, AWS enterprise customers can procure and deploy Hopr’s novel automated moving target defense (AMTD) solution in their own environments.

A 120-room extended-stay hotel will soon be the latest addition to the sprawling Metro Centre development in Owings Mills. Officials with developer David S. Brown Enterprises said Monday the firm expects to break ground on the Element by Westin this summer. The five-story luxury hotel will be built as part of the second phase of the 45-acre, $1 billion Metro Centre in an area that today is a flat-surface parking lot near Painters Mill Road.

SECU, Maryland’s largest state chartered credit union, marked the opening of a new branch Monday in downtown Baltimore that replaced a location near the University of Maryland Baltimore. The branch, in the lobby of the Pandora building at 250 W. Pratt St., is expected to serve clients in the central business district and offer access to members across the city, credit union officials said.

Economists have been predicting a recession for months, but the labor market has remained resilient, wage growth is higher than before the pandemic, and inflation continues to drop, now at 4% compared to 9.1% in June of last year. Despite this good news, consumers don’t feel confident about the future, according to the consumer confidence index, which is at a six-month low.

Along a flat road in rural Cecil County, where the sky is big and the towns are small, stands a long, nondescript building. Inside is one of the most important cultivation and processing operations for Maryland’s new cash crop — cannabis. SunMed Growers and its 150 employees are harvesting, testing and packaging as many products as they can in preparation for Saturday.

Rising interest rates and ever-looming economic uncertainty may have made venture capital a bit more conservative of late, but the investment arm of defense contracting giant Lockheed Martin Corp. (NYSE: LMT) said it has no plans on slowing down. Indeed, it’s ramped up quite a bit in the last couple of years, said Chris Moran, vice president and general manager of Lockheed Martin Ventures.