Latest / Apple News Today / They make $25,000 a year in L.A. Now they’re striking.

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They make $25,000 a year in L.A. Now they’re striking. · Apple News Today

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  Gideon Resnick, Narrating: Good morning! It's Wednesday, March 22nd. I'm Gideon Resnick in for Shumita Basu, and this is "Apple News Today." On today's show, why the ICC issued an arrest warrant for Putin, a major strike affecting L.A. schools, and a thrilling end to the World Baseball Classic.
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  But first, it's a big day in economic news. The Federal Reserve will announce what's happening next to interest rates later today. And as "The Wall Street Journal" explains it, this will be one of the toughest calls yet for Jerome Powell, who has led the central bank since 2018.
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  This decision comes amid the backdrop of a tumultuous past few weeks for worldwide banking. There was the collapse of Silicon Valley and Silvergate Banks in the U.S., the emergency rescue sale of Credit Suisse in Switzerland. Meanwhile, the fate of First Republic hangs in the balance after a group of large banks injected billions of deposits to shore it up.
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  This is the most chaos the U.S. financial system has seen in more than a decade. And all of that uncertainty, plus the ongoing fight to bring down high inflation, leaves the Federal Reserve with a tricky choice here. "Bloomberg" columnist and former Fed member Bill Dudley takes a look at two potential outcomes.
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  Behind door number one: The Fed takes a timeout and pauses interest rate hikes. That could add fuel to the uncertainty some people are feeling right now about the health of the banking system. And even if investors are ultimately relieved by a pause, it would be counterproductive in the inflation fight.
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  Then there is door number two: The Fed could raise interest rates again, which would continue to squeeze the pockets of borrowers and potentially look bad in hindsight should the banking turbulence get worse. But former Fed Vice Chair Richard Clarida told "The Wall Street Journal" that raising rates, as previously expected, could also send a positive message about the central bank's confidence in financial conditions.
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  Yesterday, Treasury Secretary Janet Yellen tried to calm nerves among the American Bankers Association, a lobbyist group.
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  Janet Yellen: The situation is stabilizing. And the U.S. banking system remains sound.
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  And she pledged to intervene, if necessary, to protect smaller financial institutions like regional and community banks.
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  Janet Yellen: Our intervention was necessary to protect the broader U.S. banking system. And similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion.
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  In its decision today, the Federal Reserve will need to try and strike the right balance between managing these very real banking concerns and very real inflation concerns.
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  Chinese President Xi Jinping departed Russia today after meeting with Russian President Vladimir Putin. The summit is the first time the two leaders have met since Russia started the war in Ukraine.
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  It's a major move for China, which observers say is trying to demonstrate that it can overtake the U.S. as a global power that brokers peace. Putin and Xi have called themselves "dear friends," and together, the two countries hope to shape a new world order. But China's proposed 12-point plan for peace is unlikely to garner any support from Ukraine. For one thing, it doesn't call for Russian troops to withdraw from occupied Ukrainian territory. In fact, Russian forces launched more air strikes on Ukraine while Xi was in Moscow.
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  Just days before the visit, the International Criminal Court issued an arrest warrant for Putin, accusing him of abducting children in Ukraine. Under an international agreement, 123 nations are obligated to extradite him to the Hague to face trial as a war criminal if he ever shows up in their territory. The Kremlin has dismissed the warrant, calling it "outrageous." But Russia doesn't deny it's taking Ukrainian children. In fact, the Russian government touts the adoption of children by Russian families in its propaganda campaigns. U.S. Secretary of State Antony Blinken criticized Xi's visit.
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  Antony Blinken: That President Xi is traveling to Russia days after the International Criminal Court issued an arrest warrant for President Putin suggests that China feels no responsibility to hold the Kremlin accountable for the atrocities committed in Ukraine, and instead of even condemning them, it would rather provide diplomatic cover for Russia to continue to commit those very crimes.
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  "The Guardian" spoke to one Ukrainian father from occupied Mariupol. He said all three of his children were abducted into Russia while he was being held in jail. He was told by Russian officials they were taken to "a camp" in Moscow. They were eventually reunited. But that's not the case for the vast majority of most families who have been separated.
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  According to the Ukrainian government, over 16,000 children have been deported to Russia. Around 10,000 have been found, but only 308 have returned to their families. Russia has called these moves "adoption" or "re-education." But the International Criminal Court is calling it by a different name: kidnapping.
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  Union Member 1: We're overworked and underpaid!
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  Union Member 1: We're overworked!
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  Union Member 2: We're overworked!
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  Union Member 1: And underpaid!
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  Union Member 2: And underpaid!
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  Classes in the country's second-largest public school district are closed once again today. That's because some of the lowest-paid employees in the Los Angeles Unified School District, everyone from bus drivers to custodians and cafeteria workers, they're on strike demanding better wages and working conditions.
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  Here's what bus driver Lynneier Boyd-Peterson told KTLA 5 on Tuesday.
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  Lynneier Boyd-Peterson: Honestly, we're not managing at all. Some of our bus drivers are actually homeless. Some of them can't pay their bills. They can't even pay their mortgage. And in the summertime, we're actually not working all the time. So our bills are backed up. So it's impossible.
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  "The Los Angeles Times" spoke with the head of the union leading the strike who said this wasn't an easy decision. But it was one they felt forced to make after almost a year of bargaining with the district. Members of another major union representing teachers, nurses, counselors and librarians joined them in solidarity.
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  Local 99 is asking for $2 more per hour for its lowest-paid members and a 30% salary increase for members overall. Currently, the average annual wage is just $25,000. Democratic Congressman Adam Schiff joined the picket line yesterday and described the current average as "poverty wages."
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  The district, for its part, denies allegations of unfair labor practices. And according to the "L.A. Times," it has increased its offer to workers in recent days, including a cumulative 23% raise with some retroactive raises and bonuses, expanded hours, more full-time positions and improved eligibility for healthcare.
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  The strike means that learning is being interrupted for more than 420,000 students. Some have also been forced to go without vital meal services. Volunteers and distribution sites helped fill the gap yesterday despite heavy rain in some areas, packing up meals and healthy snacks for parents to pick up.
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  A campus aide at one school told the "L.A. Times" that they understood the burden the strike has created for parents and kids. He asked for patience, saying, quote, "We need you on our side. We know it's difficult, but we all survived the pandemic, and I think we can get through three days."
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  Finally, let's talk about a little bit of March Madness that actually happened in the world of baseball.
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  So last night, the World Baseball Classic came to a dramatic close. Shohei Ohtani faced off against Mike Trout with the title on the line. The two players, considered two of the best in the game, have been teammates on the Los Angeles Angels. But last night, Ohtani was representing Team Japan and pitching to Trout, who was representing the U.S.
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  Here's how the final pitch sounded with Japan up 3-2 and the championship on the line.
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  [CHEERING]
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  Commentator: Three and two from Ohtani. He throws. Trout strikes out, swinging!
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  [CHEERING]
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  [END MLB ARCHIVAL CLIP]
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  This marked the third victory for Japan in the World Baseball Classic. And as Ohtani put it after the game, it had big implications for the country. He said it proves that "Japanese baseball can beat any team in the world."
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  You can find all these stories and more in the Apple News app. And if you're already listening in the app, stick around.
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  We've got a narrated article coming up next from Jia Tolentino. She writes for "The New Yorker" about Ozempic and how it's renewed our cultural fixation on being thin.
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  So sit back, check that out, and we'll be back with the news tomorrow.
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