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- Coca-Cola shutting down California facility after more than a century
A large Coca-Cola bottling plant in Southern California will shut down permanently this summer, ending a longstanding relationship between the company and the city. Reyes Coca-Cola Bottling made the announcement in a May 8 WARN (Worker Adjustment and Retraining Notification) notice – a legally required 60-day "heads-up" that employers must give to workers before a major layoff or office closure."We regularly assess our locations, products, and services to ensure we can continue driving sustainable growth and innovation across our business," a spokesperson for Reyes Coca-Cola Bottling wrote to SFGATE. "As such, we have announced the closure of our Ventura Distribution Center and the transfer of operations to our other Southern California facilities."COCA-COLA'S SUGARCANE SHIFT: STATES THAT COULD BENEFIT FROM THE BEVERAGE GIANT'S LATEST MOVEThe closure of the Ventura plant will impact 85 employees, the company said.TRUMP SUCCESSFULLY CONVINCES COCA-COLA TO BRING BACK 'REAL' CANE SUGAR IN US DRINKS: 'IT’S JUST BETTER!'"Most (78) will be reassigned to other RCCB facilities," the spokesperson said. "Additionally, affected employees have the option of applying for any open roles for which they are qualified within RCCB and our sister companies."The last day of operations will be July 10, Reyes Coca-Cola Bottling said. The roles slated for elimination include drivers, fleet mechanics, merchandisers and customer growth representatives.The facility was most recently used as a distribution center. The closure will end Ventura's long relationship with Coca-Cola, which spanned more than a century, according to local reports.GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business has reached out to Reyes Coca-Cola Bottling and the city of Ventura for further comment.A Coca-Cola plant in American Canyon, California, closed last year, laying off 135 employees in August 2025. That same month, Reyes Coca-Cola Bottling closed its Salinas plant after more than seven decades, SFGATE reported. [TheTopNews] Read More.47 mins ago - CIA chief visits Cuba as energy crisis worsens
The reported visit to Havana came after the US renewed an offer of aid to ease the effects of its oil blockade. [TheTopNews] Read More.2 hours ago - Trump vindicated as OPEC faces collapse following UAE departureThe price of gasoline is set to drop as the Organization of Petroleum Exporting Countries (OPEC) appears poised to collapse, experts predict. OPEC has long kept crude oil prices higher than they would otherwise be. If this pans out, it will be a major victory for the Trump administration, which is resetting global energy markets.The news of a probable end of the oil cartel also vindicates President Donald Trump, who has previously said OPEC is "ripping off the rest of the world." For a long time, the president has led a pressure campaign against OPEC, which has vast crude oil reserves that could easily be pumped. But the organization restricts the number of barrels of oil that each country may pump each day. That keeps gasoline prices elevated across the U.S. and much of the rest of the world. Phil Flynn, senior market analyst at The PRICE Futures Group and a FOX Business contributor said, "Over time, the breakup of the cartel should cause gas prices to fall. With more player pricing, oil only being contained by market forces should lead to an ounce of supply and lower prices. Competition is good as it lowers prices and collusion by producers raises prices."WHAT A UAE EXIT FROM OPEC MEANS AND WHY IT MATTERSThe poster child for the possible beginning of the end of OPEC came in late April when the United Arab Emirates (UAE) announced it would quit OPEC and OPEC+ on May 1. Flynn linked the U.S.-Israel war with Iran as a historic marker. "I think that is a real possibility and more OPEC countries want to control their own destiny. In fact, when we look back at one of the strategic victories from Operation Epic Fury, it is that it has changed the face of the OPEC cartel forever and shifted energy dominance from the cartel back into our hemisphere. The UAE was getting tired of playing second fiddle to Saudi Arabia, the de facto leader of the cartel. The UEA wants to assert its leadership and has a competitive goal to not only increase oil production in the long term, but it wants to assert itself as the leader of the region."The simple act of the UAE quitting the cartel led immediately to OPEC losing out in a big way."[The UAE’s] departure removes both production weight and institutional credibility, and that's got to be a concern to Saudi Arabia and… [TheTopNews] Read More.2 hours ago
- What to Watch at Trump and Xi’s U.S.-China Summit
Here’s what to know about the biggest sources of tension in U.S.-China relations before the first summit in Beijing in nine years between the nations’ leaders. [TheTopNews] Read More.2 hours ago - Stock Market Rally Confronts Inflation and Higher Interest RatesDespite accelerating inflation and possible interest rate increases, the S&P 500 has posted a long weekly winning streak, driven by strong corporate earnings. Can it last? [TheTopNews] Read More.3 hours ago
- Chinese EVs are coming to Canada, and some dealers can’t wait to sell them
Canada is allowing 49,000 Chinese-made electric vehicles to be imported for retail sales annually at a tariff rate of 6.1%. [TheTopNews] Read More.4 hours ago
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