Mark Schiefelbein / AP

"Investors pick Tesla's promise over GM's steady profits," by AP's Tom Krisher and Dee-Ann Durbin, in Detroit:

  • GM's stock is trading around the $33 price of its initial public offering seven years ago. During that time, Tesla shares have soared more than tenfold to $335.
  • Wall Street now values Tesla at about $55 billion, compared to around $50 billion for GM.
  • Despite efforts to paint themselves as technology companies, automakers can't shake their giant, capital-intensive global manufacturing operations. The huge investment needed to build vehicles yields low profit margins compared with tech companies that make software or cell phones.
  • Why it matters: The big changes in the auto industry are in the early stages. Electric vehicles make up less than 1% of global auto sales, and fully self-driving cars are years away.

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2 mins ago - Podcasts

House antitrust chair talks USA vs. Google

The Justice Department filed a 63-page antitrust lawsuit against Google related to the tech giant's search and advertising business. This comes just weeks after the House subcommittee on antitrust issued its own scathing report on Google and other Big Tech companies, arguing they've become digital monopolies.

Axios Re:Cap talks with Rep. David Cicilline (D-R.I.), chair of the subcommittee on antitrust, about Google, the DOJ's lawsuit and Congress' next move.

15 mins ago - Economy & Business

Boeing research shows disinfectants kill coronavirus on airplanes

Electrostatic spraying of disinfectant. (Photo courtesy of Delta Air Lines)

Boeing and researchers at the University of Arizona say their experiment with a live virus on an unoccupied airplane proves that the cleaning methods currently used by airlines are effective in destroying the virus that causes COVID-19.

Why it matters: Deep cleaning aircraft between flights is one of many tactics the airline industry is using to try to restore public confidence in flying during the pandemic. The researchers say their study proves there is virtually no risk of transmission from touching objects including armrests, tray tables, overhead bins or lavatory handles on a plane.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: Studies show drop in COVID death rate — The next wave is gaining steam — The overwhelming aftershocks of the pandemic.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.