Wall Street lower in early trading … Malaysia files criminal charges against Goldman Sachs … Boeing buying majority stake in Embraer
NEW YORK (AP) – Health care stocks are leading major U.S. indexes lower in early trading on Wall Street after a federal judge ruled that the 2010 Affordable Care Act is unconstitutional. At 10:39 a.m. Eastern Time, the S&P 500 index fell 23 points, to 2,577. The Dow Jones Industrial Average lost 232 points, to 23,864. The Nasdaq composite fell 53 points, to 6,858.
KUALA LUMPUR, Malaysia (AP) – Malaysia has filed criminal charges against Goldman Sachs and two former executives for their role in the alleged multibillion-dollar ransacking of state investment fund 1MDB. Attorney General Tommy Thomas says the government is seeking several billion dollars in fines from Goldman Sachs for breaches of securities laws that involved it making false and misleading statements to investors. He says his office will seek prison sentences of up to 10 years for former Goldman executives, Roger Ng Chong Hwa and Tim Leissner.
CHICAGO (AP) – Boeing is buying a majority stake in Embraer’s commercial aircraft and services operations for $4.2 billion. The joint venture gives Boeing 80 percent ownership of those operations, with Embraer owning the remaining stake. Boeing will have operational and management control of the company. Embraer will keep consent rights for some decisions, such as the transfer of operations from Brazil. The deal still needs approval from the Brazilian government, as well as shareholders and regulators.
NEW YORK (AP) – Google is spending more than $1 billion to expand operations in New York City. Ruth Porat, senior vice president and chief financial officer at Google and Alphabet, says in a blog post that Google is creating a more than 1.7 million square-foot campus that includes lease agreements along the Hudson River in lower Manhattan. Google Hudson Square will be the company’s primary location for its New York operations.
BERLIN (AP) – Workers at two Amazon distribution centers in Germany have gone on strike as part of a push for improved work conditions, leading to fears that Christmas orders may not arrive in time. The German news agency dpa is reporting that workers in Leipzig in eastern Germany and Werne in western Germany went on strike early today. The union representing workers says Amazon employees receive lower wages than others in retail and mail-order jobs in Germany.