1.9 C
Beijing
Wednesday, January 28, 2026

UPS to cut 30,000 jobs and close 24 sites as Amazon volume “glide-down” continues

UPS plans to cut up to 30,000 jobs and close 24 facilities in 2026 as it reduces Amazon delivery volume, even as the company beat earnings estimates and forecast higher revenue for the year.

Wall Street pushes S&P 500 toward 7,000 while Dow falls as healthcare stocks tumble

Wall Street lifted the S&P 500 to a record and closer to 7,000 as earnings rolled in and the Fed meeting began, while the Dow slipped after health insurers sank on Medicare Advantage news.

Tesla stock in focus ahead of results as Wall Street debates growth vs profitability

Tesla is set for a key earnings test as investors watch margins, demand and pricing strategy, with the results expected to influence sentiment across the EV and tech markets.

Elon Musk’s Boring Company Faces Scrutiny Over Nashville Tunnel Project

BusinessElon Musk’s Boring Company Faces Scrutiny Over Nashville Tunnel Project

Elon Musk’s tunneling company, The Boring Company, recently announced plans to build a 10-mile underground transit loop in Nashville, Tennessee, with strong backing from Republican Governor Bill Lee. The project, called the Music City Loop, aims to connect downtown and the Convention Center to Nashville International Airport with an estimated transit time of about eight minutes. The company would dig tunnels beneath state-owned roads, and officials claim the venture would come at no cost to taxpayers, being entirely privately funded.

However, local Democratic lawmakers and Nashville’s mayor have expressed concerns over the project’s rapid advancement and lack of transparency. An emergency meeting and public hearing have been scheduled by a state commission—including the governor and legislative leaders—to discuss a proposed “no cost/mutual benefit” lease allowing The Boring Company to use a football-field-sized area of public property downtown. Despite invitations for public testimony, critics say there was minimal notice for community input.

State Representative Justin Jones has raised alarms about the absence of an environmental impact report, health assessments, or detailed information about the tunnels’ routes. Jones described attempts to engage with The Boring Company at recent recruiting events as confrontational, with staff barring his participation. He also noted that state officials informed him the project only requires state-level approvals since the tunnels would lie under state roads, not city streets.

The Boring Company has prior experience building tunnels in Las Vegas, where its system moves passengers between convention halls. Yet that project has drawn criticism for limited accessibility and safety concerns. The company also faced fines in Nevada for worker safety violations and abandoned other tunnel projects, including in Chicago.

Nashville’s susceptibility to flooding poses a unique challenge, given its average annual rainfall far exceeds that of Las Vegas. Local agencies have previously acquired flood-prone properties to create green spaces, raising questions about The Boring Company’s preparedness for such conditions.

Meanwhile, Musk’s AI venture xAI, based in Memphis, faces lawsuits alleging environmental harm and community impact from its natural gas-powered data centers.

As the state commission prepares to vote on the lease agreement, many Nashvillians await answers on the project’s implications for the city’s infrastructure, environment, and public safety.

READ MORE:

Check out our other content

Check out other tags:

Most Popular Articles