As Monday morning rolls in, we’re providing TechWire readers with a quick recap of the past week’s news headlines.
The coronavirus pandemic continued to dominate news coverage last week. A WalletHub study ranked NC the 9th best state for working from home; tech talent is still in demand across NC, even as the state ranks 5th in total job losses; more people are jobless in NC than are working in Raleigh; LabCorp secured FDA approval for its at-home COVID-19 test as the company considers expense cuts; NC DOT is allowing the use of drones for food and medical deliveries; many startups are running out of money, cutting pay and jobs; Lenovo is cutting jobs at its Data Center Group in RTP; Wilmington banking startup nCino processed over $30 billion in PPP loans.
In non-COVID news: IBM got a boost from Red Hat in its Q1 earnings; a former Google exec joined Durham startup Sense Photonics as CEO; the CEO of Wilmington startup Next Glass is stepping down from his role; AvidXchange announced that its latest funding round was part of an oversubscribed round of $388 million; NC State is getting an innovation center focused on smart manufacturing;
A few NC companies announced new funding rounds, including RTP-based Panaceutics Nutrition ($5 million), Charlotte-based AvidXchange ($127 million), Next Glass (undisclosed) and Durham-based InnAVasc Medical ($414,500).
- Check out TechWire’s comprehensive resource package for Triangle startups.
And, in national news: Charter Communications pledges no layoffs or furloughs for at least 60 days; $300 million in COVID-19 loans went to publicly traded companies, not small businesses; the new aid package includes $300 billion for small business funding; America’s four largest banks are being sued for allegedly failing to process loans fairly; more than 12 million people tuned into Fornite Thursday night for Travis Scott’s live show.
Keeping with our Monday tradition, here’s a look back at 76 local, state and national headlines as reported by WRAL TechWire last week:
MONDAY | April 20 Headlines:
- 10 nonprofits in Greensboro’s Future Fund incubator to pitch -online – for $40K+ in cash
- 39,000 NC small businesses received COVID-19 loans but calls mount for more funding
- Can Red Hat give IBM another boost in earnings? We’ll find out soon
- Facebook launches new app to create, watch live gameplay
- Here’s your guide to 100+ meetups (some meeting virtually) across the Triangle
- IBM’s cloud business jumps thanks to Red Hat, but total revenue still down by 3%
- NC headliners through April 30: Previewing online meetups, pitch events & webinars
- Planning for May: 74 events & deadlines across NC to add to your calendar
- RTP nutrition startup lands $5M in funding; Hatteras, Launch Place among backers
- SBA issues more guidance for small businesses, PPP loans
- Study: North Carolina ranks 9th best for work from home in COVID-19 crisis
- Tech talent still in demand across NC despite pandemic, new report says
- TechWire 93 headline rewind: Small biz funding runs out; many NC job openings; Charles Barkley; Dude’s layoffs + much more
- Triangle headliners: Previewing 35 upcoming online workshops, panels & networking events
- Triangle Startup Guide COVID-19 updates: Adding more resources for entrepreneurs seeking help
- UNC Kenan-Flagler dean on COVID-19: ‘It’s taken a toll on our community”
TUESDAY | April 21 Headlines:
- Charter – with more than 10k NC employees – pledges no layoffs or furloughs for at least 60 days
- Conspiracy theorists burn 5G towers claiming link to virus
- Fintech AvidXchange in Charlotte raises $127M from 52 investors
- Here’s how to use at-home COVID-19 test from LabCorp
- Investigation: $300M in COVID-19 loans go to publicly traded companies, not startups
- LabCorp CEO: Expense cuts may include furloughs, hiring slowdown, some job cuts
- LabCorp receives FDA approval to sell at-home coronavirus test
- Let’s make a deal: $300B for small businesses is big part of new COVID-19 aid plan
- Most NC schools fail to make top 50 list for ‘Best Online College’
- NC Banks CEO has questions about new deal that includes $310B for small businesses
- RedHill Biopharma, which has US HQ in Raleigh, pursues second COVID-19 treatment
- Starbucks goes vegetarian friendly with plant-based ‘meat,’ oat milk on China menu
- Streaming wars: HBO Max will launch of May 27; cost is $14.99
- Virtual pitches: NC State grad students to promote tech startups on Zoom
- Want to work with drones? Here’s where you can find out how
WEDNESDAY | April 22 Headlines:
- ‘Ask a Black Guy/Ask a White Guy:’ Podcast asks ‘uncomfortable’ questions about race, diversity
- Bank of America, Wells Fargo, Chase, US Bank sued over COVID-19 small biz loans
- Cisco picks Cary as one of four spots to offer childcare for COVID-19 first responders
- DOT to expand drone usage for deliveries during pandemic
- Epic Games reportedly looks to raise $1B, caves to Google over Fortnite
- First Flight Venture Center in RTP names new president
- Gene therapy firm AskBio acquires French company targeting deadly brain disease
- ‘Going Virtual in Time of Social Distancing’ is topic for next CBC Here to Help webinar
- It’s Earth Day – here are ways to observe 50th anniversary despite pandemic
- LabCorp to expand testing for people no longer symptomatic for COVID-19
- Netflix growth reflects its importance but says end to isolation ‘we hope is soon’
- Ordering booze online during pandemic? Join the growing crowd
- Raleigh’s Prometheus Group makes third acquisition in 6 months
- Rapper Travis Scott picks Fortnite for debut of new song Astronomical
- SAS calls for crowd-driven artificial intelligence to help track deforestation
- UNC task force begins collecting plasma for COVID-19 treatment
THURSDAY | April 23 Headlines:
- Durham’s BioCryst has high hopes for COVID-19 treatment trial which US is funding
- Facebook to label geographic origin of posts in latest fake news crackdown
- Former Google exec spells out her agenda for Durham 3D sensor startup Sense Photonics
- Med device startup InnAVasc founded by Duke surgeons raising $1M
- Morrisville heart health company Myocardial Solutions names president
- NC banks gear up for more small biz loans – but $341B likely already committed
- North Carolina ranks 5th in job losses due to COVID-19, study says
- Next Glass CEO steps aside as Boston firm invests in Wilmington startup
- New app will help seniors counter isolation during pandemic, says Raleigh’s K4Connect
- Sources: Lenovo cutting contractor jobs, mulls layoffs, freezing pay
- Surveys: Many startups running out of cash, cutting pay, jobs; NC not immune
- Want to learn about low-code app development? Attend this virtual workshop
- WCU engineering college using 3D printers to make face shields for COVID-19 fight
FRIDAY | April 24 Headlines:
- AT&T’s longtime CEO Randall Stephenson stepping down
- Contractors, self-employed, others out of work due to pandemic can now file for benefits
- DraftKings kicks off countdown to going public despite lack of sports
- Free entertainment: Triangle startup offers custom jigsaw puzzle platform during COVID-19
- Here To Help: Local Business Virtual Conference Series – listen in to latest in the series
- More people jobless in NC than working in Raleigh – and it’s going to get worse
- More than 12.3M fans show up for Travis Scott’s first Fortnite concert
- NC State gets new innovation center focused on smart manufacturing
- Recovered COVID-19 patients can donate plasma at UNC, some Grifols plasma centers
- Rethinking ‘necessity’: SBA provides additional PPP guidance and amnesty in latest FAQs
- Treasury: Big companies should repay Paycheck Protection Program loans
- What fintech sector anxiety? AvidXchange’s latest fundraiser reaches whopping $388M
- Wilmington unicorn nCino processes over $30B in paycheck protection loans
