New York green lights self-driving cars; Aetna fully exits Obamacare exchanges, and more news

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New York has approved testing self-driving cars on its public roads in a year-long pilot program. Rules remain strict: Companies that become part of the program “need to cover each autonomous vehicle with a $5 million insurance policy, keep a driver behind the wheel at all times and reimburse state police for costs associated with overseeing the tests.”

Aetna will exit the 2018 Obamacare individual insurance market in the last two states it offers the plans: Delaware and Nebraska. Aetna cites major losses — $225 million this year and $700 million between 2014 and 2016 — as a major factor and is one insurer among many that says it “cannot plan amid the uncertainty” as the American Health Care Act awaits a vote by the Senate.

Verizon will buy wireless-spectrum holder Straight Path for $3.1 billion after an "unusually intense bidding war" with AT&T. Straight Path, valued at roughly $400 million two months ago, plays an "important role in laying the groundwork for 5G services."

Apple is making an additional $1 billion investment in its Nevada data center operations. It plans to build a $4 million warehouse and hire an additional 100 workers, with 300 more being supported through construction jobs. The move isn’t entirely selfless, of course: Apple will get major tax breaks.

According to research firm Strategy Analytics, the iPhone 7 was the best selling phone in the world during Q1. The firm estimates that Apple shipped about 21.5 million iPhone 7s during the period, giving it a 6 percent share of the global smartphone market.

Hulu named its first chief content officer as it transitions away from being a service that repackages old TV shows and movies to a major player for original content. Hulu chose AMC Networks’ Joel Stillerman, who has overseen such popular series as “The Walking Dead” and “Better Call Saul,” and who will help Hulu in the fight against Netflix and Amazon.

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