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Mercedes takes biggest swing yet at Elon Musk’s Tesla as it unveils new CLA with 492-mile range

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  • The new Mercedes CLA compact sedan can drive up to 792 kilometers, recharge nearly half its battery in ten minutes, and comes with all the creature comforts its well-heeled clientele have come to expect. It even has a frunk.

Mercedes-Benz took its boldest swing yet at Elon Musk’s Tesla in a bid to once more set the benchmark for luxury and innovation in the automotive industry.

On Thursday, the German carmaker that invented the modern automobile reinvented its compact sedan, keeping the CLA nameplate and nothing else from the previous two generations of the baby Benz.

Instead, engineers started from a clean sheet of paper to develop the most intelligent and energy-efficient car that has ever come out of its Stuttgart headquarters.

Available later this year in all major markets, including the U.S., the fully electric version is rated in Europe to drive up to 792 kilometers—making it the longest-range EV on sale in the continent. While its range translates to 492 miles, the more conservative U.S. EPA has not yet rated it.

Moreover, it can recharge nearly half of its battery in a matter of minutes—all for a car that is expected to cost somewhere in the vicinity of a Tesla Model 3. 

“This CLA marks the start of the greatest series of car launches ever for Mercedes-Benz,” CEO Ola Källenius told guests at the car’s premiere in Rome. He aims to bring “dozens” of new and refreshed models by 2027.

Der neue Mercedes-Benz CLA mit EQ Technologie: Exterieur: Edition, AMG Line, kosmosschwarz magno The all-new Mercedes-Benz CLA with EQ Technology: exterior: Edition, AMG Line, cosmos black magno

The past five years have been challenging for Mercedes, which saw its traditional role as the leader among premium brands torn away by Tesla.

However, Musk’s polarizing behavior has created an opening amid protests and boycotts to peel away customers looking to make the switch.

Mercedes appears to have learned the lessons from its first dedicated effort to build a high-tech EV flagship.

Competing in a niche segment of largely chauffeur-driven executive limousines, the EQS failed to connect with a conservative customer base that still prizes Merc’s combustion engine S-Class sibling as the pinnacle of luxury. 

This time however the CLA’s more aggressive styling and emphasis on software and digital intelligence fits hand-in-glove with the compact sedan’s much younger target audience.

That gives the company cause for hope since Mercedes has poured a lot of effort into the CLA and cannot afford another mistake. 

Blueprint for the technology in every new Mercedes to come

For one, the CLA uses a new, in-house-designed operating system, MB.OS, which will gradually be rolled out to all future Mercedes models.

It adopts Tesla’s approach of continually improving all aspects of the car over time through software updates. Most carmakers still struggle with that since various subsystems sourced from suppliers struggle to speak to one another in the same language. 

Der neue Mercedes-Benz CLA mit EQ Technologie: Displayinhalt kann optisch vom Serienstand abweichen; Edition, AMG Line, Interieur: Leder tartufobraun The all-new Mercedes-Benz CLA with EQ Technology: Display content may differ visually from the production model; Edition, AMG Line, interior: leather tartufo brown

This MMA (Mercedes Modular Architecture) includes a new electrical system that is twice as capable as the standard EV.

That means in a pinch, owners can add 325 additional kilometers of range in just ten minutes at a highway fast charging station before continuing on their way. 

For those worried about the durability and resilience of the battery, Mercedes says the car comes with a guarantee its battery will still retain at least 80% of its original charge after eight years or 160,000 km.

Finally, alongside niceties like a frunk—a first in a Mercedes EV—and a panoramic glass roof that comes standard, the vehicle features a premium infotainment system powered by a computer chip that can calculate 254 trillion operations per second. It’s so potent, it needs liquid cooling like a high-end PC gaming rig.

“The new CLA is the frontrunner and blueprint for the technology we’re going to see in every new Mercedes from now on,” Källenius continued. 

With so much riding on the line, the chairman of the board himself took the unusual step of personally attending the CLA premiere in Rome. Typically, non-executive directors remain in the background in Germany, restricting their roles to oversight and governance.

“I’m convinced that Mercedes-Benz is ushering in a new era of digitalization and e-mobility with the all-new CLA,” raved Mercedes chair Martin Brudermüller in a post on LinkedIn.

This story was originally featured on Fortune.com



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Cathie Wood says most memecoins will end up ‘worthless’

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Most of the so-called memecoins that are flooding the $2.6 trillion cryptocurrency space will probably end up “worthless,” according to Cathie Wood. 

The combination of blockchain technology and artificial intelligence is creating “millions” of meme cryptocurrencies that “are not going to be worth very much,” the ARK Investment Managment LLC founder and CEO told Bloomberg Television on Tuesday, adding that her private funds are not putting money into these coins. 

Memecoins are a type of digital asset often inspired by jokes, current events or trends in popular culture. In February, the US Securities and Exchange Commission said memecoins are not considered securities so they will remain unregulated.

“If I have one message for those listening who are buying memecoins: buyer beware,” said Wood. “There’s nothing like losing money for people to learn, and they’ll learn that the SEC and regulators are not taking responsibility for these memecoins.”

This story was originally featured on Fortune.com



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JPMorgan stock traders score windfall as Trump jolts market

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A chaotic run in stock markets is unleashing a windfall for banks’ equities traders.

JPMorgan Chase & Co. is on track to boost revenue from equities trading by more than 30% this quarter from a year earlier, according to people with knowledge of the matter. If the trajectory holds, the firm would surpass its $3.3 billion record set four years ago.

Such a trend could spell even bigger bounties at Goldman Sachs Group Inc. and Morgan Stanley, which typically vie for the industry’s stock-trading crown. While JPMorgan’s increase is particularly steep, Goldman’s equities unit is also running ahead of its pace last year, when it reaped $3.3 billion in the first three months, the people said, asking not to be named because they weren’t authorized to speak publicly.

Market swoons set off by President Donald Trump’s abrupt policy announcements are — for banks, at least — creating a rare bright spot amid signs of economic trouble. But the gyrations have tripped up hedge funds, stalled dealmakers’ talks on prospective mergers and shaken consumer confidence.

The resilience of equities desks is a nod to their evolution since the 2008 financial crisis. Their earnings hinge less on taking risks with their balance sheets and more on facilitating surges in client trading in response to price swings. Individual stock moves have unleashed bursts of derivatives trading, driving up banks’ gains.

Representatives for JPMorgan and Goldman Sachs declined to comment.

The boon for banks contrasts with the impact on multistrategy hedge funds — the big, all-weather investing platforms geared toward eking out gains irrespective of market conditions. The two largest, Ken Griffin’s Citadel and Izzy Englander’s Millennium Management, posted rare losses in February and slumped further in early March.

There’s pain in other corners of investment banks. Some dealmakers are ruing predictions that Trump’s return to the White House would unleash a wave of activity. Instead, they’re grousing about the uncertainty created by sudden tariff proclamations. The volume of new transactions announced globally this year is lower than at the start of 2024.  

Morgan Stanley Co-President Dan Simkowitz said as much on Tuesday. Merger and acquisition announcements and new equity issuance are “certainly on pause” as clients assess Trump’s policies, he said at a conference hosted by his bank.

Before 2008, big US banks made proprietary bets on stocks to reap billions of dollars a year, rather than confining themselves to just passively fielding client orders. But as new regulations reined in risk-taking, banks leaned on other aspects of their businesses, such as providing financing to clients interested in levering up bets to juice returns.

Three banks have dominated the stock-trading business over the past decade. Morgan Stanley held the top spot for seven years starting in 2014 before ceding it to Goldman. 

Along with JPMorgan, the trio raked in almost $36 billion from their equities businesses last year, pulling further ahead of competitors.

This story was originally featured on Fortune.com



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How to watch the First Four of the 2025 NCAA Tournament for free—and without cable

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  • The First Four games of the NCAA Tournament are being held Tuesday and Wednesday, March 18 and 19. They’re an appetizer, of sorts, for the first round of March Madness, one of the most anticipated basketball tournaments of the year.

Selection Sunday is behind us. Now it’s time for March Madness to get underway. (Sorry, HR directors!)

The NCAA Tournament is one of the highlights of spring and while the Round of 64 will get underway later this week, fans will get an appetizer starting tonight with the First Four games.

This matchup sees the four lowest-seeded automatic qualifiers and the four lowest-seeded at-large teams face off in an attempt to make it to the official tournament. It’s where Cinderella stories are born and where longshot bets can pay off (though rarely do).

Here’s a look at who’s playing in the First Four—and some options to watch them.

What is the schedule for the NCAA Tournament’s First Four games?

Here’s who’s playing in the First Four.

Tuesday, March 19

St. Francis vs. Alabama State, 6:40 p.m. ET on TruTV

UNC vs. San Diego State, 9:10 p.m. ET on TruTV

Wednesday, March 20

Mt. St. Mary’s vs. American, 6:40 p.m. ET on TruTV

Xavier vs. Texas, 9:10 p.m. ET on TruTV

How can I watch the First Four games for free?

Ok, here’s the bad news. None of the First Four games will be broadcast over the air, meaning you’ll need either a cable subscription or a streaming service to watch. Many streaming services have done away with free trials, but a few remain. See below for details.

Can I watch the 2025 First Four games online?

Yep! Here are a few other options.

Max

The one-time HBO Max doesn’t have a free trial, unfortunately. Subscriptions start at $9.99 per month.

Disney+

Disney’s bundle of Disney+, Hulu and ESPN+ no longer has a free trial, so you’ll have to pay $17 per month for all three combined (or $30 per month for no ads on Hulu).

Including Live TV in the bundle bumps the price to $77 per month ($90 with no ads).

Hulu with Live TV

The free trial on this service lasts three days. Afterward, it will cost you $77 per month.

YouTubeTV

After a free trial, you can expect monthly charges of $73.

Sling TV

Dish Network’s Sling lower-tiered “Orange” plan will run you $40 per month. Adding the more comprehensive “Blue” plan bumps the cost to $55 per month. The seven-day free trial has disappeared, unfortunately.

DirecTV Stream

Formerly known as DirecTV Now, AT&T TVNow and AT&T TV, this oft-renamed streaming service will run you $80 per month and up after the free trial option.

Fubo TV

This sports-focused cord-cutting service carries broadcast networks in most markets. There’s a seven-day free trial, followed by monthly charges of $80 and up, depending on the channels you choose.

Can I watch any March Madness games on Amazon Prime Video?

No. March Madness do not stream on Amazon, unless you purchase a subscription to a streaming service.

This story was originally featured on Fortune.com



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