A German union plans to strike major Amazon.com Inc. (NASDAQ: AMZN) facilities in Germany. According to Reuters:
German trade union Verdi called on workers at two Amazon logistic centers to strike on Monday, part of a long-running campaign for better pay and conditions.
Verdi has organized frequent strikes at Amazon in Germany since 2013 to press demands for the retailer to raise pay for warehouse workers in accordance with collective bargaining agreements in Germany’s mail order and retail industry.
Amazon has repeatedly rejected Verdi’s demands, saying it believes warehouse staff should be paid in line with competitors in the logistics sector, not as retail staff. Germany is Amazon’s second-biggest market after the United States.
Goldman Sachs Group Inc. (NYSE: GS) faces legal charges in Malaysia. According to The Wall Street Journal:
Malaysian authorities on Monday filed criminal charges against Goldman Sachs Group Inc. units and a former partner of the bank in connection with the 1MDB financial scandal, the country’s attorney general said in a statement.
Goldman Sachs International and two Asian subsidiaries of the Wall Street bank were charged under securities laws for the omission of material information and publishing of untrue statements in offering documents in 2012 and 2013 for the sale of international bonds by state investment fund 1Malaysia Development Bhd., or 1MDB.
The latest take on Spider-Man ruled the box office last weekend. According to Box Office Mojo:
Finishing at #1, Sony Animation’s Spider-Man: Into the Spider-Verse brought in an estimated $35.4 million for what is the largest three-day animated opening of all-time in the month of December. Previously, Universal and Illumination’s Sing held that record with its $35.2 million opening. However, that debut does come with the caveat that it was part of a five-day opening that totaled $55.8 million back in December 2016. That being said, this is a great start for the production which should enjoy excellent play throughout the holiday season and beyond. The film received almost universally positive reviews heading into the weekend and earned a coveted “A+” CinemaScore from opening day audiences. Opening weekend crowds were largely male at 63% with 41% of the audience coming in aged 25 or older.
Toyota Motor Corp. (NYSE: TM) is having trouble marketing one of its new cars. According to CNBC:
In an automotive industry that offers American buyers hundreds of different options, few models have the immediate name recognition of the compact Toyota Prius.
When it debuted in Japan in 1997, it became the world’s first mass-market hybrid electric vehicle and demand exploded when it reached the U.S. three years later.
The Prius delivered around 50 miles a gallon and had far more interior space than the typical fuel-saving minicar — all at an affordable price. That made it the best-selling car of any form in California, and the best-selling hybrid vehicle worldwide earlier this decade.
But, as an updated 2019 version of the Prius gets ready to roll into U.S. showrooms, Toyota is facing a difficult situation. Sales of the Prius have been tumbling for several years and were down 23.2 percent for the first 11 months of 2018. The new version delivers updates Toyota hopes will revive the hybrid’s momentum, including a new all-wheel-drive system that could improve its appeal in the Snowbelt. But whether that will be enough is uncertain and company officials admit they’re struggling to figure out what to do next.
Time magazine will staff up under its new owner. According to CNN Business:
Time is beefing up its newsroom.
The company posted 25 job openings, including 20 for editorial roles, last week. A spokesperson said more will soon follow for roles in technology, sales and marketing.
The hiring spree comes after Salesforce CEO Marc Benioff and his wife Lynne announced in September that they were purchasing the magazine for $190 million from Meredith Corp.
California won’t tax texts. According to CNN Business:
California regulators no longer plan to tax text messages.
The California Public Utilities Commission said a new FCC ruling prevented the state from levying a tax on text plans. The state hoped to add new monthly fees onto wireless customers’ bills to increase funds for programs that bring connectivity to underserved residents. Regulators were scheduled to vote on the measure on January 10, 2019.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
