Under Armour subject of criminal investigation over accounting practicesPosted: Updated:
Here are the latest business headlines from Cheddar.
Under Armour is confirming it's the subject of a criminal investigation over its accounting practices. The athleticwear maker, which recently named a successor to its CEO, is being probed by the Justice Department and SEC. Under Armour says it believes all of its accounting practices and disclosures were appropriate.
Volkswagen is beginning production of its ID 3 electric vehicle. That's VW’s mass market electric car, set to launch across Europe next summer for under 30,000 euros. German Chancellor Angela Merkel said at VW’s production ceremony, she wants Germany to have 1 million electric charging points by 2030.
An American Airlines flight attendants union wrote a letter to Boeing CEO Dennis Miulenberg, saying they will not work on a plane unless it is up to the highest possible safety standards. Boeing's CEO spent two days last week being grilled by lawmakers on the Hill over its 737 Max.