Mar 11, 2017

California prepares for fully driverless cars later this year

AP Photo/Eric Risberg

California is laying the groundwork to regulate self-driving cars, according to new regulations the state's DMV published on Friday.

The state plans to allow for testing of fully driverless cars on public road by the end of the year. Now vehicles need to have controls like a steering wheel and pedals and a safety driver who can take over when needed, but that will no longer be the case if manufacturers meet federal standards or get an exemption. Driverless cars will need a remote operator who can monitor their operation and communicate with passengers.

High demand: There are already more than two dozen companies testing self-driving technology in California, including Alphabet's Waymo, Tesla, and Uber, which obtained its permit this week after a disagreement with DMV.

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Special report: Health care workers vs. coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: Angela Weiss/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

  • And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.
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Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.

What top CEOs fear telling America about the coronavirus shutdown

Illustration: Eniola Odetunde/Axios

Top CEOs, in private conversations and pleas to President Trump, are warning of economic catastrophe if America doesn't begin planning for a phased return to work as soon as May, corporate leaders tell Axios.

Why it matters: The CEOs say massive numbers of companies, big and small, could go under if business and government don't start urgent talks about ways groups of workers can return.