Tuesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.
Amazon
One of Amazon’s top could engineers has left his $1 million a year job in protest over the company’s handling of worker concerns amid the coronavirus pandemic.
Tim Bray said in a blog post that he had a problem with Amazon firing workers who had been organizing protests going back all the way to September.
Citi Bank cards
Citi is joining many other credit card issuers, including American Express, Chase and Bank of America, in offering eligible new cardholders more time to earn their welcome bonus.
Smiliar to other issuers, Citi is extending the time frame to earn the bonus by three months.
Citi will now let cardmembers apply the popular travel card’s annual $250 travel credit to eligible purchases at supermarkets and restaurants.
Auto sales
April was the worst month for U.S. auto sales since at least the mid-70s.
Light-vehicle sales plunged to just 8.6 million in April as a result of the consumer lockdowns.
For most of the past five years, it’s been roughly double that.
Sales in May are expected to be better.
Disney
Wall Street is bracing for the worst when Disney reports second-quarter results Tuesday afternoon.
The House of Mouse has taken a particularly hard hit during the pandemic with the majority of its business – the theme parks, vacation resorts, movie production, cruises, live sporting events – being ground to a halt.
Only the new streaming service, Disney Plus, is doing well for the company.