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Thibault Camus / AP

"China's Google" nabs a Microsoft vet to help run the company

Qi Lu, a former Microsoft executive who ran the Office and search groups during his tenure, is joining Baidu, China's largest search engine, as group president and COO, the company told media outlets. Lu left Microsoft last year for health reasons.

Why now: One particular area of Lu's expertise is artificial intelligence. While AI is still going through its period of massive hype in the industry, it will undoubtedly be important to future technologies and products. Baidu is already working on AI-related technologies such as self-driving cars and augmented reality.

In good AI company: In 2014, Baidu hired Andrew Ng as chief scientist in its Silicon Valley office. Ng is incredibly well respected among AI circles.

Facebook wants French entrepreneurs

The social network giant is one of the launch partners of Station F, a large startup hub in Paris set to open in the coming months, COO Sheryl Sandberg told local reporters on Tuesday.

The details: Facebook will have 80 desks within Station F's campus and will work with 10 to 15 data-focused startups every six months to provide mentorship. The arrangement could also be an opportunity for Facebook to get an early look at startups it may want to acquire.

That's not all: Sandberg also said that Facebook is also working on a separate program with Sciences Po, a local university, to develop a program around policy and privacy issues.

Go deeper

Federal Reserve expands lending program for small businesses

Federal Reserve Chairman Jerome Powell at a news conference in 2019. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

2 hours ago - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.

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