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Tesla lays off 200 autopilot workers, Turkey allows Sweden-Finland NATO membership, FTC sues Walmart

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Notable business headlines include reports of Tesla laying off 200 workers in its autopilot unit, Turkey agreeing to lift its objections to Sweden and Finland joining NATO, the U.S. blocking a Russian oil tanker headed for New Orleans, and the FTC suing Walmart.

Video Transcript

[MUSIC PLAYING]

- Tesla reportedly laying off roughly 200 workers in its autopilot unit and it also rescinded job offers to some new hires. That's as it shut down an office in San Mateo, California, an office, by the way, focused on its autopilot system. This coming after a warning from Chief Executive Elon Musk earlier this month that Tesla would lay off about 10% of its workforce.

Overseas, Turkey agreed to lift its objections to Finland and Sweden joining NATO. This is a major breakthrough at that summit in Madrid, all three countries signing a trilateral memorandum in which the two Nordic countries committed to extend their full support against threats to each other's security. They also committed to working with Turkey on extraditions of accused terrorists, terrorist financing, and similar issues. Finland and Sweden's application still has to be approved by all 30 members of NATO and their legislatures.

US authorities reportedly stopped a ship traveling from Russia to Louisiana with a cargo of fuel products. The ship was prevented from discharging that cargo. It's undergoing checks by US Customs and Border Protection to see whether the product it's carrying is indeed Russian in origin. This coming after the US imposed an oil ban against Russia in March, banning imports of crude, petroleum fuels, liquefied natural gas, and coal from the country amid, of course, its invasion of Ukraine.

And the Federal Trade Commission filed a lawsuit against Walmart. Investigators saying the retail giant failed to monitor its money transfer services at the stores, allowing scammers to hijack that money transfer business, as a result, costing customers hundreds of millions in losses. The FTC asking the court in its suit to order Walmart to return the money taken from consumers and also to impose civil penalties. Walmart has come out with a statement firing back and calling the FTC lawsuit, quote, "factually flawed and legally baseless."