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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

Mark Meadows will stop cooperating with Jan. 6 panel, attorney says

Photo: Chris Kleponis/Polaris/Bloomberg via Getty Images

Former White House chief of staff Mark Meadows will no longer cooperate with the House select committee investigating the Jan. 6 Capitol insurrection, his attorney told Fox News Tuesday.

Why it matters: Meadows, who failed to appear before the panel last month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.

Updated 4 hours ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
4 hours ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.