Big banks celebrating Juneteenth, Osaka pulls out of Wimbledon, Snapchat cancels speed filter

Julie Hyman breaks down Friday's business headlines, including: JPMorgan, UBS, and Wells Fargo celebrating Juneteenth after congress passes a bill making it a federal holiday, Naomi Osaka pulls out of Wimbledon but says she will participate in the Olympics, and Snapchat getting rid of their speed filter after safety campaigners believed the filter encouraged reckless driving.

Video transcript

JULIE HYMAN: I want to turn to some headlines that we're watching as well in the world of business, outside of what we've been just talking about. And we start with Juneteenth. Today, for the first time in the United States, Juneteenth is being commemorated as a federal holiday. President Biden yesterday signed a bill to make June 19 the first established federal holiday since Martin Luther King Day in 1983.

But since it falls on a Saturday, most government workers are going to get paid time off today. We also had some companies announcing last minute closures. And banks like JPMorgan, UBS, and Wells Fargo will give employees a so-called floating holiday that they can use today, or at other times. US stock exchanges, meantime, obviously are open. We've been talking about trading. But they said they'll consider whether to close beginning next year.

Snap is removing a speed filter from Snapchat, eight years after introducing it. That filter allows users to clock their speed and overlay it on a photo or video. It has long been blamed for encouraging reckless driving and has been linked to several deadly car crashes. Snap, in fact, is still enmeshed in some court cases, stemming from some of those crashes.

The highest paid female athlete is taking some more time off. Naomi Osaka said she will not be playing Wimbledon. This after last month, she stepped away from the French Open, saying her mental health was under threat from the stresses of the tournament, including post-match press conferences. She does plan to return to the court for the Tokyo Olympics.

Rafael Nadal, meanwhile, also said he's going to skip Wimbledon. He said in the statement he was listening to his body. The grass courts historically, he has had a tough time with there at Wimbledon, Miles.

- And Nadal also announced that he will be skipping the Olympics as well. And we are, I think, 33 days out from opening ceremonies over in Tokyo. I know viewers out there are excited. US track and field trials start today out in Eugene, Oregon. Men's 10k, first final up tonight. And we're, of course, going to have full updates of that as those results roll in.