>>Federal Reserve Governor: Additional Rate Hikes Likely
(Washington, DC) -- Additional interest rate hikes "will likely be needed." That's the message from one Federal Reserve governor. The Federal Reserve raised rates last month for the 11th time since March 2022 in a move to combat inflation. Its next hike decision will come in September.
>>L.A City Workers To Hold One-Day Strike
(Los Angeles, CA) -- More than eleven-thousand city workers in Los Angeles are set to take part in a one-day walkout. Personnel including sanitation crews, traffic officers, airport workers, and engineers are expected to join, likely resulting in service disruptions across the nation's second-largest city. It's part of an effort to protest contract negotiations with city leaders, who union officials say are refusing to "bargain in good faith." The workers plan to picket for 24 hours starting today at multiple locations, including City Hall and LAX airport. >>Tesla CFO Out (Austin, TX) -- Tesla's Chief Financial Officer is stepping down. Zach Kirkhorn, who worked at the plant near Austin, had been with the electric car company for 13-years. In a post to social media, he thanked Elon Musk "for his leadership and optimism." No reason for the departure was given. Kirkhorn will be replaced by Tesla's Chief Accounting Officer.
>>Neuralink Raises $280M
(Fremont, CA) -- Brain chip startup Neuralink has raised 280-million-dollars in a funding round through Peter Thiel's Founders Fund. This, after the Elon Musk-founded company got federal approval for human clinical trials. The company has come under fire for reports of animal abuse, with rushed surgeries allegedly resulting in unnecessary suffering and death.
>>Yellow Trucking Declares Bankruptcy
(Nashville, TN) -- One of the biggest trucking companies in the U.S. is officially declaring bankruptcy after slamming the breaks on its operations. Yellow trucking filed for chapter 11 bankruptcy protection and will soon be liquidated to pay off its creditors. The Nashville-based company called it quits last week, leaving 30-thousand workers, mostly Teamsters, out of a job. The company blames the Teamsters for its collapse, claiming Monday that the union interfered with its restructuring plans.
>>Tyson Foods Shutting Down U.S. Chicken Plants
(Springdale, AR) -- Tyson Foods is shutting down four more U.S. chicken plants. The Arkansas-based company said it's hurt by falling chicken and pork prices and as well as the reduced demand for beef products. The company is also struggling with declining profits. Experts say some consumers are looking for lower-cost protein alternatives because of inflation. The company has also been cutting jobs and closing certain chicken processing units in order to keep costs under control.
