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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

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities in Syria linked to Iranian-backed militia groups was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

9 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios