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Nati Harnik / AP

The iconic American company reported a 55% decline in profits on Thursday—reduced by charges related to selling off its bottling businesses to independent firms around the country. Coke retook control of those operations in 2010 as it wanted to adapt them to producing healthier drinks to meet consumer demand. But the labor-intensive bottling business shrunk Coke's margins, so executives moved to divest once again.

Tesla to unionize?: A Tesla employee took to Medium Thursday afternoon to complain of unsafe work conditions, mandatory overtime that forced him to work 60 to 70 hours per week, and hourly pay of $17-$21, below the average auto-worker pay of $25.58. Musk responded to Gizmodo that although his company is "union-neutral," he believes the worker is a paid infiltrator of the United Auto Workers, who exaggerated his claims. The worker says he has been in contact with the UAW.

The consequences of China's treasuries selling spree: The Wall Street Journal contemplates the effects of the declining share of foreign owners of U.S. debt. It found that as China in particular has sold off U.S. debt to prop up its currency, U.S. rates have begun rising. Given the widespread demand around the world for safe returns, experts don't foresee U.S. borrowing costs rising significantly in coming years, even if the Chinese continue to sell.

Go deeper

Using apps to prevent deadly police encounters

Illustration: Sarah Grillo/Axios

Mobile phone apps are evolving in ways that can stop rather than simply document deadly police encounters with people of color — including notifying family and lawyers about potential violations in real time.

Why it matters: As states and cities face pressure to reform excessive force policies, apps that monitor police are becoming more interactive, gathering evidence against rogue officers as well as posting social media videos to shame the agencies.

Dan Primack, author of Pro Rata
11 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.