Canada Markets closed

Goldman Sachs takes massive hit, Netflix gives execs raises, GM wins ruling

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

Goldman Sachs (GS) expects its profit for the fourth quarter to decrease by about $5 billion, thanks to the new tax bill. The big bank said it’s mainly because of a tax targeting earnings held abroad.

Execs at Netflix (NFLX) are getting a big pay raise. The streaming company said it’s increasing the annual salary for a number of top executives in 2018 because of the new tax law. How big? The chief content officer’s salary will now be at a staggering $12 million per year. That’s up from $1 million this year.

A big win for General Motors (GM). The car maker won a court ruling that could reduce the private litigation it faces over flawed vehicle ignition switches. Since the issue came to light in 2014, GM has recalled more than 2.6 million vehicles.

Some trouble abroad for McDonald’s (MCD). The fast food giant says it can’t vouch for the quality of food served in about 40% of its restaurants in India. McDonald’s said despite terminating its franchise agreement with local partner CPRL, the company is still using its brand name, trademarks, designs, and food recipes. The two are battling the issue in court.