Business News

Color changing cars. Flying taxis. And a gaming-style tablet that can control a vehicle.

Auto companies came to CES in Las Vegas this week to showcase their latest ideas – some whimsical and far-out, others more relevant in the short term – as the industry navigates technological shifts in its business.

Throughout the week, auto executives unveiled new in-car software, praised automated driving technologies, and highlighted new partnerships and investment deals. Automakers have accelerated the market launch of their new battery-powered models in recent years.

The meeting took place against the backdrop of a tightening economic environment for automakers. In the same week, the US auto industry posted its worst sales year in more than a decade. Still, executives try to keep their eyes – and investments – on the future.

Here are some highlights from the tech show:

Honda and Sony unveil electric car brand Afeela

Honda HMC 2.97% Motor Co. and Sony SONY 5.02% Group Corp. announced last year that they would join forces to build electric vehicles, with plans to start selling a car later this decade.

At CES, their joint venture, Sony Honda Mobility Inc., showed off a new prototype sedan and revealed plans for a new brand called Afeela.

The brand name aims to represent the emotional act that is at the heart of the mobility experience, according to a description on Sony Honda Mobility’s website.

Sony Honda said it aims to develop a range of technologies that will allow the car to drive itself in certain urban environments. The prototype was equipped with 45 cameras and sensors inside and out.

Pre-orders for its first production model, which will be based on the prototype, will begin in the first half of 2025. The company plans to deliver the vehicle to customers in North America the following year.

The Ram 1500 EV concept truck debuted in Las Vegas.

Photo: robyn beck/Agence France-Presse/Getty Images Chrysler owner Stellantis causes a sensation

Global automaker Stellantis STLA 1.85% NV used CES to unleash a flood of news. It unveiled a new all-electric pickup truck to be sold under its Ram brand, a model intended to compete against similar battery-powered truck offerings from key rivals Ford F 2.69% and Chevrolet. This truck is scheduled to hit the market in 2024.

The automaker also showed off a new cockpit design for its Chrysler-branded vehicles and an electric concept sedan for Peugeot called Innovation, which Stellantis says is targeting a 500-mile battery range.

Subscribe to Newsletter

Alert Technology

Important news in the technology sector.

The Peugeot concept also had an unusual feature: a tablet screen replacing the traditional steering wheel to control driving.

Stellantis also said this week that it would deepen its partnership with air taxi startup Archer Aviation Inc. It plans to build Archer’s first aircraft in 2024 and aims to be its exclusive contract manufacturer.

Chief Executive Carlos Tavares delivered a keynote address at the show, where he discussed new automated driving features and software that can customize the car to driver preferences. He later warned reporters that the high cost of developing electric vehicle technology could cause additional plants to shut down after news last month that work at a factory in Belvidere, Illinois, was to be suspended indefinitely .

The Volkswagen ID.7 can detect when a driver approaches the car and start cooling or heating the vehicle depending on the outside temperature.

Photo: STEVE MARCUS/Portal Volkswagen makes its debut with an electric sedan

Volkswagen AG VOW 0.28% introduced a new EV concept called ID.7, which had a digital camouflage exterior and luminous paintwork. The automaker described it as a near-production version and said it will have a battery range of around 435 miles by European standards.

The concept version of the ID.7, one of 10 new EV models that VW says it plans to launch by 2026, featured a 15-inch infotainment screen and a range of tech features, including an augmented reality display. It showcased technology that can detect when a driver approaches the car and start cooling or heating the vehicle depending on the outside temperature.

The production version of the ID.7 will be shown in the second quarter, VW announced.

The WSJ’s Dalvin Brown examines how the Consumer Electronics Show looks different this year as innovators scale back their design, production and delivery schedules. Image: David Fang Mercedes-Benz is planning a global charging network

Mercedes-Benz AG MBGYY 1.48% announced plans to expand its global network of electric vehicle chargers, similar to Tesla’s popular Supercharger stations.

As part of the plan, the company intends to install approximately 10,000 high-capacity electric vehicle chargers worldwide, beginning this year in the United States and Canada. The Mercedes-Benz brand network would allow the company’s customers to pre-book a charging spot for their car, but would also be open to drivers of competing brands with compatible technology.

“This is one of the building blocks that will perhaps convince even more customers to get into the EV side of Mercedes-Benz,” said CEO Ola Källenius.

By 2027, the network in North America will comprise a total of more than 400 hubs and provide 2,500 charging stations for electric vehicles.

BMW shows color-changed vehicle concept

BMW introduced a new concept called i Vision Dee that shows what the future of a vehicle’s interior and exterior could look like. “Dee” stands for Digital Emotional Experience, the company said.

SHARE YOUR THOUGHTS

What are the automotive highlights of the CES for you? Join the conversation below.

The concept includes technology that could transform the car’s exterior into 32 different colors and a massive head-up display that spans the width of the windshield.

BMW said the i Vision Dee aims to create stronger interactions between driver and car and plans to make it available on certain specialty models from 2025.

Write to Ryan Felton at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Tampa Bay Lightning head coach Jon Cooper was not proud of his team’s performance after a 4-2 loss to the Winnipeg Jets on Friday night.

• Also read: OHL: Owen Beck traded?

• Also read: Defense is the Panthers’ best offense

• Also read: Patrick Roy predicts an exciting end to the season in the QMJHL

The pilot boldly underscored the indiscipline of his people. The Manitoba team achieved two of their successes while playing on the ice with two other skaters.

“It’s a total lack of discipline,” Cooper said at a news conference. It’s embarrassing what we did. How many five-a-side games does a team allow in a season? We can count them on one hand and we gave them two and a half minutes five against three in a game. This is unacceptable.”

“This shouldn’t be happening,” he continued. Good for Winnipeg. To be honest, it really was a draw. This game could have ended 0-0 and then decided on penalties. she [les Jets] stayed disciplined. They said, “Let’s sit down and wait for Tampa to shoot itself in the foot.” We did it.”

When asked if he found this match “intense,” the Bolts head coach replied with a laugh.

“Honestly, I didn’t find that part intense. Tell me what happened apart from taking penalties and giving them chances.

Cooper’s men will try to learn from their mistakes and get back to winning ways on Tuesday night when the Columbus Blue Jackets play at the Amalie Arena.

Bitcoin (BTC) traded around $17,000 on Jan. 7 after the end of the year’s first week of trading delivered a higher surge.

BTC/USD 1-Day Candlestick Chart (Bitstamp). Source: TradingView

All eyes on CPI

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it briefly surpassed $17,000 the previous day.

The pair had seen flash volatility on fresh economic data out of the United States, but this eased to leave the key level ‘unflipped’ as resistance.

Nonetheless, the brief surge delivered Bitcoin’s highest price point since December 20, 2022.

In response, market participants continued to view next week’s Consumer Price Index (CPI) as a key potential catalyst for risky assets.

“Unemployment will increase in the coming months. When the CPI is low, returns will fall precipitously,” said Michaël van de Poppe, founder and CEO of trading company Eight. wrote in part of a summary tweet on Jan. 6.

“The relief rally is imminent.”

“Finally, it looks like BTC is poised to break out of the $16,000-$17,000 base area where it has been stuck for the past few weeks. Initiate the squeeze,” trader hopeful Kaleo continued.

Meanwhile, if CPI data shows inflation falling faster than expected, it could fuel a trip to multi-month highs near $19,000, according to futures trader Satoshi Flipper added.

Annotated BTC/USD chart. Source: Satoshi Flipper/ Twitter

The data shows the magnitude of the on-chain losses

Fellow trader and analyst Rekt Capital trimmed the range, joining the growing consensus on BTC/USD’s current tight trading range forming the next macro bottom zone.

Related: $16.8K Bitcoin is now trading further below this key trendline than ever before

“The current BTC price action is likely to be an important cluster in the formation of the bear market lower accumulation range,” he definitely.

In another demonstration of the pain Hodler is already enduring, on-chain analytics firm Glassnode revealed that Bitcoin has seen its second largest realized cap drawdown.

The realized cap describes the total price at which the BTC supply has recently moved, and its decrease reflects the realized losses from the sale.

“The 2022-23 bitcoin bear market saw the -18.8% fall in the realized ceiling, the second largest in history, dwarfed only by the 2011 bear pico bottom,” according to Checkmate, Lead-On -Chain Analyst from Glassnode, commented next to a chart.

“Investors endured a total of $88 billion in net realized losses.”

Bitcoin Realized Cap Drawdown Annotated Chart. Source: Checkmate/ Twitter

The views, thoughts, and opinions expressed herein are solely those of the authors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Since the Russian invasion of Ukraine began in February 2022, several Russians have left their country and face integration difficulties.

• Also read: Russians and Ukrainians celebrate Christmas, hostilities continue

• Also read: Washington is making $3 billion in new military aid available to Ukraine

On social networks, several of them complained about being victims of “Russophobia” or anti-Russian feelings.

In several cases, these citizens are accused of having supported the invasion of Ukraine.

Recently, the founder of the NGO WindOfChange, a think tank focused on democratic values, submitted an excerpt of a Russian woman who visited Mexico and was the victim of harassment because of her nationality.

“In Mexico, people hate us. We came here to reach the United States, but they don’t like us here. Everyone hates Russians! I can’t take it anymore […]’ she summarized.

The woman, who had previously stayed in Brazil for a few months, is outraged that the Russians are viewed poorly in the West.

“Why are we being humiliated? Maybe we’re too emotional or too sincere, but we’ve never been aggressive […]. I want to live in a society where people are more tolerant. Because I have a Russian passport, I’m nothing,” they said in a row.

woman off #Russia in #Mexico City
Russian society as a whole must go through all 5 stages of complaints. Many are still in the 1st stage – Denial: No, Russian nationality is not very pronounced. No, the reason Russians are hated by so many isn’t because they’re “emotional and too sincere.” pic.twitter.com/FdWsadctXZ

— Igor Sushko (@igorsushko) January 6, 2023

In the excerpt that can be seen several times, the lady does not indicate whether she openly supports Vladimir Putin’s special military operation.

At the United Nations last September, Foreign Minister Sergey Lavrov castigated the growing hatred of citizens of Russian descent.

“Official Russophobia in the West is unprecedented, its scale is grotesque,” he said.

SHANGHAI, Jan 7 (Portal) – Hundreds of Tesla (TSLA.O) owners flocked to the automaker’s showrooms and distribution centers in China over the weekend, demanding rebates and credit following sudden price cuts they said were made for by electric cars they bought would have paid too much earlier.

About 200 new Tesla Model Y and Model 3 buyers gathered at a Tesla delivery center in Shanghai on Saturday to protest the US automaker’s decision to cut prices for the second time in three months on Friday.

Many said they believed the prices Tesla was charging for its cars late last year would not be cut as abruptly or as deeply as the automaker just announced to boost sales and ramp up production at its Shanghai plant support. The planned expiry of a state subsidy at the end of 2022 also drove many to conclude the purchase.

Videos posted to social media showed crowds at Tesla stores and delivery centers in other Chinese cities from Chengdu to Shenzhen, suggesting a broader consumer backlash.

After Friday’s surprise discounts, Tesla electric vehicle prices in China are now between 13% and 24% below September levels.

Analysts said Tesla’s move would likely boost sales, which plummeted in December, and force other EV makers to cut prices as well at a time of slowing demand in the world’s largest battery-powered car market.

While established automakers often offer discounts to manage inventories and keep factories running when demand slacks, Tesla operates without dealerships and transparent pricing is part of its brand image.

“It may be normal business practice, but that’s not how a responsible company should behave,” said a Tesla owner who protested outside the company’s delivery center in the Minhang suburb of Shanghai on Saturday, giving his last name as Zhang.

He and the other Tesla owners, who said they received the delivery in the final months of 2022, said they were frustrated by the suddenness of Friday’s price cut and the lack of an explanation from Tesla to recent buyers.

Zhang said police facilitated a meeting between Tesla employees and the assembled owners, where the owners presented a list of demands, including an apology and compensation or other credit. He added Tesla employees have agreed to respond by Tuesday.

About a dozen police officers were seen at the protest in Shanghai, and most videos from the other demonstrations also showed a large police presence at Tesla locations.

Protests are not uncommon in China, where over the years people have turned out in large numbers over issues such as financial or property fraud, but authorities were on heightened alert against COVID-19 after widespread protests in Chinese cities and top universities at the end of November -Limitations.

‘GIVE MONEY BACK’

Other videos that appear to show Tesla owners protesting were also posted to Chinese social media platforms on Saturday.

A video, which Portal confirmed was filmed at a Tesla store in the southwestern city of Chengdu, showed a crowd chanting, “Return the money, refund our cars.”

Another, apparently filmed in Beijing, showed police cars arriving to disperse crowds outside a Tesla store.

Portal could not verify the content of either video.

Tesla does not plan to compensate buyers who received the shipment before the recent price cut, a spokesman for Tesla China told Portal on Saturday.

He did not respond when asked to comment on the protests.

China accounted for about a third of Tesla’s global sales in 2021, and the Shanghai plant, which employs about 20,000 people, is Tesla’s most productive and profitable plant.

Analysts have been positive about the potential of Tesla’s price cuts to spur sales growth at a time when it’s a year after the announcement of its next new vehicle, the Cybertruck.

“Nowhere else in the world does Tesla face the kind of competition they have here [in China]said Bill Russo, head of Shanghai-based consultancy Automobility Ltd.

“You’re in a much larger EV market with companies that can price more aggressively than they previously could.”

In 2021, Tesla faced a PR storm after a dissatisfied customer climbed onto a car at the Shanghai Auto Show to protest the company’s handling of her complaints about her car’s brakes.

Tesla then apologized to Chinese consumers for not addressing the complaints in a timely manner.

Reporting by Brenda Goh, Zhang Yan and Casey Hall Editing by Kevin Krolicki and Tomasz Janowski

Our standards: The Trust Principles.

US stocks staged their first notable rally of 2023 to end the week higher on Friday after December jobs data showed wage growth had slowed over the past month. Investors took the release as a sign that Federal Reserve officials might be easing their rate hike campaign.

The S&P 500 (^GSPC) rose 2.3%, while the Dow Jones Industrial Average (^DJI) gained 700 points, or 2.1%. The tech-heavy Nasdaq Composite (^IXIC) rose 2.6%. All three major averages were about to end the week in losses ahead of Friday’s big gains.

The latest 2022 jobs report from the Department of Labor showed that the US economy added 223,000 jobs over the past month, while the unemployment rate has fallen to 3.5%. Economists had expected readings of 200,000 and 3.7% respectively.

Employment has weakened in recent months, but hiring remains significant despite the Federal Reserve’s efforts to quell a tight labor market that has put upward pressure on wages and contributed to stubborn inflation.

“With more than 1.8 job vacancies for every unemployed person, investors should expect higher interest rates longer after today’s release,” Ron Temple, Lazard’s chief market strategist, said in a statement. “As long as the labor market remains tight, the Fed cannot be sure that inflation will return to its 2% target.”

Meanwhile, the ISM non-manufacturing PMI fell below the 50 line for the first time since the pandemic began two years ago. The US services activity gauge fell to 49.6 last month from 56.5 in November . Economists polled by Bloomberg were expecting a reading of 55.0.

Troubled Tesla (TSLA) was down as much as 7% at the start of the session after the electric carmaker slashed prices in China following a drop in shipments in December. Shares closed down 2.5%.

The starting price for the Model 3 has been slashed to 229,000 yuan, or around $33,000, while the Model Y has been priced down to 259,900 yuan, or $37,886, according to Tesla’s website.

The story goes on

Elsewhere, shares of World Wrestling Entertainment (WWE) rose 16.8% after The Wall Street Journal reported that former CEO Vince McMahon will return to explore a sale of the company. McMahon retired in July 2022 following a misconduct investigation.

Bed Bath & Beyond (BBBY) tumbled another 22.5% on Friday after it issued a statement the day before saying the company was considering bankruptcy as it ran out of cash. Shares fell 30% on Thursday following the announcement.

Costco (COST) stock gained 7.3%, rebounding from a six-month low after the wholesaler released upbeat December sales data. Revenue for the past month was $23.8 billion, up 7% year over year, while total comparable store sales rose 5.5%, beating analysts’ expectations of 5%. Costco was named Company of the Year by Yahoo Finance.

Finally, shares of Biogen (BIIB) closed 2.8% higher after the FDA granted the biotech and its partner, Japan-based Eisai, accelerated approval for their new Alzheimer’s drug. Trading was briefly suspended due to upcoming news.

In commodity markets, oil prices rebounded Friday morning after a dismal start to the year that saw crude oil futures fall as much as 10% this week. West Texas Intermediate (WTI) Crude Oil, the US benchmark, closed at $73.69.

A trader works on the trading floor of the New York Stock Exchange (NYSE) in New York City, U.S. January 5, 2023. Portal/Andrew Kelly

Outside of the monthly jobs report, a number of other jobs updates this week suggested that hiring remains strong and job vacancies remain high. For investors, the numbers suggest labor conditions remain tight enough for the Federal Reserve to continue raising interest rates and dumping stocks.

In the previous trading session, all three major moving averages fell more than 1% after the ADP National Employment Report showed private payrolls rose 235,000 jobs in December, while jobless claims fell to their lowest level since September.

“Last year it was the Fed against the markets — they needed valuations to fall, they wanted stocks to fall, they wanted bonds to fall, they wanted house prices to fall — they got that,” David Waddell, CEO of the eponymous firm, Waddell and Associates, told Yahoo Finance Live on Wednesday. “This year it’s going to be the Fed against the employers, and what the Fed has said to the employers is, ‘We’re not going to stop until you lay off two million people.'”

—

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Click here for the latest stock tickers from the Yahoo Finance platform

For the latest stock market news and in-depth analysis, including events moving stocks, click here

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on TwitterFacebook, Instagram, Flipboard, LinkedIn and YouTube

Detroit Lions safety DeShon Elliott can’t wait to take on the Green Bay Packers and their quarterback Aaron Rodgers.

• Also read: NCAA Football: Christian Veilleux restarts in Pittsburgh

• Also read: NFL: From Zeros to Heroes Ahead of the Playoffs

The two formations of the North section of the national association have a date on Sunday night and a place in the playoffs is key. Indeed, the Packers (8-8) will be postseason if they win, while the Lions (8-8) win and need to hope for a Seattle Seahawks (8-8) loss to continue their campaign.

“She [les Packers] don’t respect us A-Rod doesn’t respect us, this whole team doesn’t respect us,” Elliott claimed a few days before the duel.

“We’re used to being the ‘underdogs’. No matter what happened before, we will fight to the death and play soccer to destroy them. It’s a matter of respect.”

Elliott continued his tirade of blaming Rodgers but didn’t elaborate on what the 39-year-old pivot said, setting him on fire.

“Yes, [Rodgers est] a future Hall of Famer, but I didn’t like the way he talked about my boys all season and how this team sees us. We want to prove something to them.”

Earlier this season, on November 6, the Lions defeated the Packers 15-9.

“It will hurt for a long time,” added the man who had to accept three interceptions in this duel.

Financially strong crypto investors are suddenly moving hundreds of millions of dollars worth of Bitcoin (BTC), Ethereum (ETH) and three other altcoins.

New data from whale-watching platform Whale Alert shows that wealthy traders have moved over $315 million worth of king crypto in two separate transactions.

The first transaction took place on January 4th when a whale touched 9,251 BTC worth about $155 million at the time of writing from one unknown wallet to another, while the second transaction happened at a whale yesterday postponed 15,477 BTC worth over $260,891,533 at the time of writing from one unknown wallet to another.

Whale Alert moves on to leading smart contract platform ETH and finds it is a whale relocated 32,236 ETH worth $40,355,154 at the time of writing from an unknown wallet to leading US crypto exchange platform Coinbase on January 5th.

Other crypto assets on Whale Alert’s radar include XRP, the asset used to power Ripple Labs’ payment platform, Layer 2 scaling solution Polygon (MATIC), and Decentralized Exchange (DEX) protocol Curve Finance (CRV ).

Notable transactions involving these digital assets include:

• 278,894,905 XRP worth $92,978,005 transferred from one unknown wallet to another unknown wallet.
• Transferred 35,100,000 XRP worth 11,881,715 from crypto exchange Bitso to an unknown wallet.
• Transferred 30,000,000 XRP worth $10,164,876 from an unknown wallet to Bitso.
• Transferred 40,000,000 XRP worth $13,553,169 from unknown wallet to crypto exchange Bitstamp.
• 35,000,000 XRP worth 12,140,436 were transferred to Bitstamp from an unknown wallet.
• 8,228,177 MATIC worth $6,585,305 transferred to Polygon from an unknown wallet.
• 25,000,000 MATIC worth $20,008,398 transferred to Polygon from an unknown wallet.
• 57,339,449 MATIC worth $45,890,822 transferred to Polygon from an unknown wallet.
• 17,000,000 CRV worth $8,976,141 transferred from Aave to unknown wallet.

Don’t miss a thing – Sign up to receive crypto email alerts straight to your inbox

Check the price action

follow us on TwitterFacebook and Telegram

Surf the Daily Hodl Mix

Check the latest headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any risky investments in bitcoin, cryptocurrency or digital assets. Please note that you transfer and trade at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/Mount Dmitry