Jun 6, 2017

Facebook adds captions to FB Live

Facebook is adding closed captions to live video broadcasts, the Palo Alto company announced Tuesday. Video creators will be able to add captions through backend software that will automatically be shared with users who have captions turned on.

Why it matters: The update is meant to help those who are deaf or hard of hearing engage with Live videos, the same way they currently can with uploaded videos. For this reason, Facebook calls the addition a "milestone" in making all video on Facebook accessible to all users.

Go deeper: Live video has quickly become one of Facebook's most engaging and frequently used features. According to the company, Facebook Live broadcasts have grown by more than 4x over the course of a year. Today, 1 in 5 videos on the platform is a live broadcast.

Between the lines: More user engagement is good for Facebook's bottom line (increased usage means more data to sell advertising against and to leverage for optimization) and it helps promotes Facebook's social infrastructure goal of creating an open and accessible platform to all users.

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Coronavirus dashboard

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Global: Total confirmed cases as of 10:30 a.m. ET: 1,502,618 — Total deaths: 89,915 — Total recoveries: 339,775 — Map.
U.S.: Total confirmed cases as of 10:30 a.m. ET: 432,554 — Total deaths: 14,829 — Total recoveries: 24,213 — Map.
Business: The Fed will lend up to $2.3 trillion. — Another 6.6 million jobless claims were filed last week
Federal government latest: Congress' $250 billion PPP injection could come too late for some businesses.
Public health latest: Anthony Fauci said social distancing could reduce the death toll to 60,000.
Poll: 1 in 10 Americans believe the economy will never return to normal.
What should I do? Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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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.

DetailsUpdated 8 mins ago - Economy & Business

Dan Primack

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.

Go deeperUpdated 9 mins ago - Economy & Business