Wednesday's economy & business stories

GM to significantly expand its S.F. self-driving car unit
General Motors is adding 1,163 employees to its self-driving car unit in San Francisco, according to a state filing flagged by Bloomberg's Dana Hull. The company confirmed the plan to Axios, adding:
We have made significant progress in developing safe and high-quality self-driving vehicle technology and as a result we expect to further grow our team and test fleet. We appreciate the opportunity the state offers through the California Competes program to support our expansion and continued development of this important technology that will reduce traffic fatalities.
Autonomous race: The employees will join GM's Cruise unit, whose initial team is from the startup the company acquired a year ago for nearly $1 billion. Like other automakers, GM has been heavily investing in developing self-driving car technology, amid predictions that automation will eventually eliminate human drivers.

Walmart discounts one million items to compete with Amazon
Walmart will offer discounts on one million online-only items that customers can order for in-store pickup in an effort to compete with Amazon's new "Pickup Point" feature, reports Bloomberg. The discounts will apply to 10,000 items beginning April 19, and will extend to 1 million come June.
Why this matters: Amazon has been working to convince big brands to move away from selling to brick-and-mortar stores like Walmart, in favor of selling directly online. Revamping Walmart's e-commerce business is the latest attempt to challenge Amazon's growing online dominance.

4 films in the works on Watergate
Four movies or documentaries are in the works on Watergate, a friend points out:
- "Felt" is the story of Deep Throat, FBI official Mark Felt, told primarily from the perspective of his family. Liam Neeson plays Felt. Julian Morris plays Bob Woodward. Filming is complete and the movie is expected to be released this year. Directed by Peter Landesman.
- The film rights to "The Last of the President's Men," Woodward's book on Nixon aide Alexander Butterfield, who disclosed the secret White House taping system, has been sold to Steve Golin's Anonymous Content (which did "Spotlight," the 2016 Best Picture on the Boston Globe investigation of Catholic priests). Screenwriter and director Rod Lurie is working on the screenplay and meeting regularly with Butterfield and Woodward.
- Actor Robert Redford is planning with NBC for a possible documentary that focuses on the Senate and House investigations of Watergate in 1973-74, when bipartisanship was still possible in Washington.
- ABC has commissioned a primetime special on Watergate timed to the 45th anniversary of the 1972 break-in at the Democratic headquarters in the Watergate office building.
Asked for comment, Woodward told Axios AM: "History is never over."

Qualtrics raises pre-IPO round at $2.5 billion valuation
Qualtrics, a Utah-based provider of corporate survey and analytics technology, has raised $180 million in new venture capital funding from existing investors at a $2.5 billion pre-money valuation. Axios spoke with co-founder and CEO Ryan Smith. The quick read:
- Expect an IPO within the next 18 months.
- Existing investor Accel, which was the first VC firm into Facebook, has now invested more into Qualtrics than into any other portfolio company.
- Qualtrics wants its new "experience management" platform to be as essential to companies as WorkDay or Salesforce.
- Smith thinks many founders romanticize struggles that they never really experienced.

Tonight's show could reportedly be Bill O'Reilly's last
With the fallout from his sexual harassment settlements piling up and more advertisers taking flight, Bill O'Reilly told viewers of The O'Reilly Factor tonight that he's taking a vacation planned last fall and will be back in 2 weeks, but some at Fox News believe that he may not return to the air, per New York Magazine.
Why it matters: Sources tell NY Mag's Gabriel Sherman — who has led the way at every twist and turn of the O'Reilly/Roger Ailes saga — that James Murdoch, 21st Century Fox's CEO, wants to oust O'Reilly while his father Rupert is hesitant. A similar scenario played out during last year's sexual harrassment scandal involving Ailes, the network's former chairman, who eventually resigned.
Update: A Fox News spokesperson said that O'Reilly did have a pre-planned vacation and would be returning to The O'Reilly Factor on April 24.

5 Trump jokes from WHCA dinner comedian Hasan Minhaj
The Daily Show's Hasan Minhaj will be the White House Correspondents' Dinner comedian this year, the association's president announced today.
Here are some of Minhaj's Trump jokes:
- "Usually, being a Muslim in an airport sucks, but this weekend, it was like I was The Weekend. I mean I land at JFK, I get to the arrival section. Literally, three white people run up to me, hug me and say 'thank you for being Muslim.' I'm 31 years old. That's the first time anyone has thanked me for being Muslim." — The Daily Show, January 30
- "Here's the beautiful irony. For years, Donald Trump has been terrified of the spread of Islam in America." (Cut to photos of protest signs including one that read "We are all Muslim now.") "Well, congratulations, Mr. President. Mission accomplished." — The Daily Show, January 30
- I'm panicking because melanin doesn't rub off … For the past 15 years, I've been blamed for 9/11. White Americans are now responsible for 11/9." "Donald Trump is white ISIS. 'Whisis'." - The Daily Show, December 8, 2015
- "Look, I know there's just a lot of nuance to the situation, and every conservative isn't the same, I know, but it's just easier on my brain to be irrationally afraid of an entire group of people. So, until we can figure out what's going on here, I, Hasan J. Minhaj, say we should not allow any conservatives into the White House." - The Daily Show, December 8, 2015
- "I didn't know you start foaming at the mouth when you say "I hate the Chinese" 50 times in a row. Thank you Donald Trump." — in a tweet, June 16, 2015

The Latino unemployment rate nears all-time low
The job market for latino workers has rarely been better, with the unemployment rate for that group hitting 5.1% in March, just shy of its 2006 low of 5.0%.
Why it matters: Minority groups tend to disproportionately be hurt by recessions, and disproportionately benefit when the economy is at full employment. That means that these groups stand to benefit the longer Janet Yellen and the Fed maintain stimulative monetary policy, and the more the federal government spends on job-creating initiatives like infrastructure.
Data: Bureau of Labor Statistics and author's calculations; Chart: Andrew Witherspoon / Axios






