Apr 21, 2017

Apple has recruited two top Google satellite execs

Alayna Treene

Eric Risberg / AP

Apple has hired a pair of top Google satellites execs for a new hardware team, reports Bloomberg. John Fenwick, who led Google's spacecraft operations, and Michael Trela, head of satellite engineering, will report to Greg Duffy, co-founder of camera maker Dropcam, who joined Apple earlier this year.

What they're saying: The recruits are experts in the field of satellite design and operation, and could be part of a new plan to use satellites for collecting images and communications. Bloomberg also reported that Boeing has been in talks with Apple about being an investor-partner in the aerospace company's plan to use satellites to provide increased broadband access, but its unclear if a deal will be reached.

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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 10:30 a.m. ET: 1,502,618 — Total deaths: 89,915 — Total recoveries: 339,775 — Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 432,554 — Total deaths: 14,829 — Total recoveries: 24,213 — Map.
  3. Business: The Fed will lend up to $2.3 trillion. — Another 6.6 million jobless claims were filed last week
  4. Federal government latest: Congress' $250 billion PPP injection could come too late for some businesses.
  5. Public health latest: Anthony Fauci said social distancing could reduce the death toll to 60,000.
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Courtenay Brown

Fed will lend up to $2.3 trillion amid coronavirus crisis

Fed Chairman Jerome Powell at a press conference in March. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve announced Thursday that it will support the coronavirus-hit economy with up to $2.3 trillion in loans to businesses, state and city governments — made possible in part by Treasury funds set aside in the government stimulus package.

Why it matters: The Fed has taken more action amid the coronavirus outbreak than it has in any other financial crisis in U.S. history in an effort to blunt the effects of the resulting economic shutdown.

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Senate Democrats block Republicans' $250 billion PPP injection

Illustration: Sarah Grillo/Axios

Before the Paycheck Protection Program formally launched last Friday, we knew two things: The rollout would be rocky, and the initial $250 billion wouldn't be enough for America's small businesses.

The state of play: Banks and government officials have been working to smooth out the process. On Thursday, Senate Majority Leader Mitch McConnell's attempt to pump another $250 billion into the program via unanimous consent was blocked by Democrats, who are proposing an alternative that includes billions more for hospitals and states.

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