Economy & Business

Why it matters: Despite murmurs of an impending economic crash, the U.S. has seen strong job growth and record low unemployment as trade wars, sweeping technological change and new media consumption habits are changing the American economy.

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Harvey Weinstein juror says #MeToo movement did not influence trial outcome

Harvey Weinstein. Photo: Scott Heins/Getty Images

A juror in the Harvey Weinstein trial told CBS This Morning that the cultural impact of the #MeToo movement was not a factor in the decision to convict the film mogul on Monday.

What he's saying: In an interview about the case, the juror, who told CBS to identify him as "Drew," said the deliberations took an emotional toll. But the movement had "absolutely zero" impact on the process.

Elevator deal is largest European buyout since financial crisis

Illustration: Aïda Amer/Axios

Thyssenkrupp of Germany agreed to sell its elevators unit for $18.7 billion to a consortium that includes Advent International, Cinven, ADIA and the RAG Foundation.

Why it matters: This is Europe's largest buyout since before the 2008-2009 financial crisis.

What we're driving: Toyota 2020 RAV4

Off-roading in Sedona in the 2020 Toyota RAV4 TRD. Photo: Bill Rapai/Axios

Last week in Sedona, Arizona, we spent time trail-driving in Toyota's new 2020 RAV4 TRD off-road model.

Why it matters: I don't always get to try out a vehicle's full capability during a short press loan. This was a rare opportunity to get off the beaten highway.

Zoox scouts for funding ahead of self-driving taxi debut

Zoox CEO Aicha Evans. Photo: Steve Jennings/Getty Images for TechCrunch

Zoox is in "advanced discussions with several strategic partners and corporate investors" for its next round of funding, CEO Aicha Evans tells Axios.

Why it matters: The self-driving car developer has been especially quiet for the past year or so, and venture capital sources say the company has struggled to raise capital to fund its ambitious plans.

Bernie's plan to hike taxes on some startup employees

Illustration: Sarah Grillo/Axios

Sens. Bernie Sanders (D-VT) and Chris Van Hollen (D-MD) introduced legislation that would tax nonqualified stock options at vesting, rather than at exercise, for employees making at least $130,000 per year.

The big picture: Select employees at private companies would be taxed on monies that they hadn't yet banked.

Waymo's driverless milestone marks the start of AV race

Photos: Joann Muller/Axios

A ride in Waymo's driverless minivan is awe-inspiring, but also a reminder of how industry hype has skewed our expectations for self-driving cars.

Why it matters: Waymo is the first company to deploy automated vehicles on public roads without anyone behind the wheel, but all that means is they've crossed the starting line in the self-driving race.

Wall Street falls 3% as coronavirus correction worsens

raders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks fell more than 3% on Friday morning, pushing stocks further into correction territory.

Why it matters: It continues the ugly stretch for Wall Street that began after a spike in coronavirus cases around the world. The S&P is 15% below its recent peak, edging closer to the mark that would technically end the market’s decade-long rally.

Go deeper: The growing coronavirus recession threat

NTSB warns about lax oversight of new car tech

Illustration: Sarah Grillo/Axios

There's mounting evidence that people put too much trust in driver-assistance features like Tesla Autopilot, but federal regulators aren't doing enough to ensure the systems are deployed safely, experts say.

Why it matters: Nearly 37,000 Americans die each year in highway accidents. As automated features become more common, the roads could get more dangerous — not safer — if drivers use the technology in unintended ways.

Coronavirus fallout could be worse than the financial crisis

Illustration: Sarah Grillo/Axios

Guggenheim Partners global CIO Scott Minerd tells Axios the fallout from the coronavirus outbreak could be "worse than the financial crisis."

Why it matters: Minerd called out the "cognitive dissonance" in markets as stock prices hit new all-time highs in mid-February, saying in an open letter that he had never "seen anything as crazy as what’s going on right now."

Market overwhelmingly expects rate cut next month

Data: CME Group; Chart: Naema Ahmed/Axios

In one week, futures traders have gone from seeing virtually no chance of a rate cut at the Fed's next policy meeting to a more than three-quarters likelihood.

Why it matters: Economists aren't sure a rate cut would be effective at offsetting the damage from the coronavirus outbreak, and would put the Fed in a weaker position to bolster the economy should the U.S. fall into a recession.

Walmart tests rival to Amazon Prime

Photo: Joe Raedle/Getty Images

Walmart plans to start publicly testing its new membership program called Walmart+ next month in hopes of competing with Amazon Prime, Recode's Jason Del Rey scoops.

Why it matters: The paid membership program "would include perks that Amazon can’t replicate, in part to avoid a direct comparison to Prime."

Teladoc's coronavirus stock bump

Photo: Johannes Eisele/AFP/Getty Images

Fears about the coronavirus haven't shattered every stock. Look at the telehealth firm Teladoc.

Driving the news: Teladoc's stock price has soared 19% this week and is now valued at almost $10 billion, because apparently Wall Street believes we will only see doctors on our iPads or on the phone as we avoid the outside world.

Go deeperArrow7 hours ago - Health

The growing coronavirus recession threat

Illustration: Aïda Amer/Axios

In just a matter of weeks, top economists and investment bank analysts have gone from expecting the coronavirus outbreak to have minimal impact on the U.S. economy to warning that an outright recession may be on the horizon.

What's happening: The spread of confirmed coronavirus cases in Europe, the Middle East and the U.S., and the speed at which they are being discovered has set the table for the outbreak to have a larger and much costlier impact.

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