German digital bank N26 faces outcry from staff over management

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Valentin Stalf, founder and CEO of N26, speaks on stage at the Digital Life Design innovation conference.

Lino Mirgeler | picture alliance via Getty Images

German digital bank N26 is grappling with discontent from some of its employees, who are trying to organize a works council to express their concerns with management.

Staff at the Berlin-headquartered fintech company are due to hold votes on Thursday and Friday to elect a board for the works council, which aims to represent workers in meetings with employers.

This move was met with fierce opposition from N26’s management, with the company filing a court

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Stocks making the biggest moves premarket: Tapestry, 3M, Apple

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Check out the companies making headlines before the bell:

Tapestry (TPR) – The company behind the Coach and Kate Spade luxury brands reported an adjusted quarterly loss of 25 cents per share, smaller than the 57-cent loss anticipated by analysts. Revenue was also well above estimates, with e-commerce sales providing a boost even as the pandemic impacted store traffic.

3M (MMM) – 3M reported a 6 percent increase in July sales compared to a year earlier, noting a broad-based improvement in sales trends across its businesses. 3M had said in late July that sales for the month to that point

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Wirecard is finally getting booted from Germany’s blue-chip DAX index

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Wirecard’s logo can be seen on a smartphone held in front of a stock market chart.

Alexander Pohl | NurPhoto | Getty Images

Insolvent payments company Wirecard will finally be ejected from Germany’s benchmark DAX index this month after exchange operator Deutsche Boerse announced a change in its selection rules.

Deutsche Boerse said Thursday that, from Aug. 21, a rule change will be implemented that allows it to remove insolvent companies from the DAX with two trading days’ notice. It added this rule change would apply to Wirecard, “given the current situation.”

Wirecard, once a high-flying tech company, collapsed into

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Lyft, Cisco, Vroom & more

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Cisco logo exhibited during the Mobile World Congress, on February 28, 2019 in Barcelona, Spain.

NurPhoto | Getty Images

Check out the companies making headlines after the bell

Cisco Systems — Cisco shares fell more than 6% in after-hours trading despite reporting fiscal fourth-quarter profit and revenues that topped analysts’ expectations. The results, though better than what analysts polled by Refinitiv had anticipated, marked the first annual sales decline in three years. Investors may have positioned to sell the Dow component after Cisco said that it sees first-quarter revenues down 9% to 11% and associated per-share earnings between 41

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