Morning Business Report: Bank of America upping its minimum wage to $22 per hour

Bank of America upping its minimum wage to $22 per hour as the next step to 2025 goal. The increase goes into effect in June and is on its way to the bank’s goal of 25 an hour.

Hyundai motor announced its plans to spend $5 billion in the U.S. on developing mobility solutions. The announcement was made alongside their electric vehicle plant in Georgia.

Starbucks pauses its operations and stopped shipments of its products to Russia in March.