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Mercedes Says Its Newest Electric Sedan Goes Farther Than a Tesla: Live Updates

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Credit…Mercedes/Associated Press

Mercedes-Benz unveiled an electric counterpart to its top-of-the-line S-Class sedan on Thursday, the latest in a series of moves by German automakers to defend their dominance of the high end of the car market against Tesla.

The EQS, which will be available in the United States in August, is the first of four electric vehicles Mercedes will introduce this year, including two S.U.V.s that will be made at the company’s factory in Alabama and a lower-priced sedan. Mercedes did not announce a price for the EQS, but it is unlikely to be lower than the S-Class, which starts at $94,000 in the United States.

The cars could be decisive for Daimler, the parent company of Mercedes, as it tries to adapt to new technology.

“It is important to us,” Ola Källenius, the chief executive of Daimler, said of the EQS during an interview. “In a way it is kind of day one of a new era.”

The EQS has a range of 770 kilometers or about 480 miles, according to Mercedes. If that figure is confirmed by independent testing, the EQS would dethrone the Tesla Model S Long Range Plus as the production electric car that can travel the farthest between charges. The Tesla currently occupies the No. 1 spot with a range of just over 400 miles, according to rankings by Kelley Blue Book.

The EQS owes its stamina to advances in battery technology and an exceptionally aerodynamic design, Mr. Källenius said. Some analysts question whether Mercedes can sell enough electric vehicles to justify the cost of development, but Mr. Källenius said, “We will make money with the EQS from the word ‘go.’”

The EQS is the latest attempt by German carmakers to show that they can apply their expertise in engineering and production efficiency to battery-powered cars. Vehicles are Germany’s biggest export, so the carmakers’ success or failure will have a significant impact on the country’s prosperity.

On Wednesday, Audi, the luxury unit of Volkswagen, unveiled the Q4 E-Tron, an electric SUV. The Q4 shares many components with the Volkswagen ID.4, an electric SUV that the company began delivering to customers in the United States in March. Though priced to compete with internal combustion models, neither vehicle offers as much range as comparable Tesla cars.

In the S-Class tradition, the EQS offers over-the-top luxury features like software that can recognize when a driver might be feeling fatigued and can offer to turn on the massage function embedded in the seat.

“You’re going to get S-Class level refinement in a very, very high performing electric car,” Mr. Källenius said. “That’s your buying argument.”

Car buyers in Wuhan in January. China is trying to get its consumers to return to their prepandemic spending levels.
Credit…Gilles Sabrié for The New York Times

China on Friday reported that its economy grew by a remarkable 18.3 percent in the first three months of this year compared with the same period last year. But the spike is as much a reflection of how bad matters were a year ago — when the China’s output shrank by 6.8 percent — as it is an indication of how China is doing now.

Global demand for the computer screens and video consoles that China makes is soaring as people work from home and as a pandemic recovery beckons. That demand has continued as Americans with stimulus checks look to spend money on patio furniture, electronics and other goods made in Chinese factories.

China’s recovery has also been powered by big infrastructure. Cranes dot city skylines. Construction projects for highways and railroads have provided short-term jobs. Property sales have also helped strengthen economic activity.

Exports and property investment can carry China’s growth only so far. Now China is trying to get its consumers to return to their prepandemic ways.

Unlike much of the developed world, China doesn’t subsidize its consumers. Instead of handing out checks to jump-start the economy last year, China ordered state-owned banks to lend to businesses and offered tax rebates.

Travel restrictions over the Lunar New Year holiday dampened consumer appetite and slowed the momentum of Chinese shoppers. But retail data on Friday showed that March sales were better than expected, raising hopes that consumers might be starting to feel confident.

James O’Keefe, the founder of the conservative group Project Veritas, in 2015.
Credit…Stephen Crowley/The New York Times

Twitter said on Thursday that it had blocked the account of James O’Keefe, the founder of the conservative group Project Veritas.

Mr. O’Keefe’s account, @JamesOKeefeIII, was “permanently suspended for violating the Twitter Rules on platform manipulation and spam,” specifically that users cannot mislead others with fake accounts or “artificially amplify or disrupt conversations” through the use of multiple accounts, a Twitter spokesman said.

In a statement on his website, Mr. O’Keefe said he will file a defamation lawsuit against Twitter on Monday over its claim that he had operated fake accounts.

“This is false, this is defamatory, and they will pay,” the statement said.

“Section 230 may have protected them before, but it will not protect them from me,” Mr. O’Keefe said, referring to a legal liability shield for social media. That shield, part of the federal Communications Decency Act, has become a favorite target of lawmakers in both parties.

In February, Twitter permanently suspended the Project Veritas account, saying it had posted private information. It also temporarily locked Mr. O’Keefe’s account.

Attendees of the disastrous Fyre Festival in the Bahamas won $2 million in a class-action settlement that is subject to final approval.
Credit…Jake Strang, via Associated Press
  • A court has awarded attendees of the infamous Fyre Festival approximately $7,220 apiece, nearly four years after they were left scrounging for makeshift shelter on a dark beach. The $2 million class-action settlement, reached Tuesday in U.S. Bankruptcy Court in the Southern District of New York between organizers and 277 ticket holders from the 2017 event, is still subject to final approval, and the amount could ultimately be lower depending on the outcome of Fyre’s bankruptcy case with other creditors.

  • CBS is turning to a pair of outsiders to restore the fortunes of a news operation that trails its rivals at ABC and NBC. CBS said on Thursday that Neeraj Khemlani, a vice president at the publishing powerhouse Hearst, and Wendy McMahon, a former ABC executive, would succeed Ms. Zirinsky. The two will serve as presidents and co-heads of CBS News, a division that will be expanded to include local stations owned by the network.

“We were trying to find the most incendiary way of making them mad,” Caolan Robertson said of the videos he used to make.
Credit…Alexander Ingram for The New York Times

To keep you watching, YouTube serves up videos similar to those you have watched before. But the longer someone watches, the more extreme the videos can become.

Caolan Robertson learned how making clever edits and focusing on confrontation could help draw millions of views on YouTube and other services. He also learned how YouTube’s recommendation algorithm often nudged people toward extreme videos.

Over more than two years, he helped produce and publish videos for right-wing Youtube personalities including Lauren Southern, Cade Metz reports for The New York Times.

Knowing what garnered the most attention on YouTube, Mr. Robertson said, he and Ms. Southern would devise public appearances meant to generate conflict. They attended a women’s march in London and, with Ms. Southern playing the part of a television reporter, approached each woman with the same four-word question: “Women’s rights or Islam?”

They often received a confused, measured or polite response, according to Mr. Robertson. They continued to ask the question and sharpened it. Ms. Southern, for example, said it would be difficult for Muslim women to answer the question because their husbands wouldn’t let them attend the march. That caused anger to build in the crowd.

“It appears in the videos that we are just trying to figure out what is going on, gather information, understand people,” Mr. Robertson said. “But really, we were trying to find the most incendiary way of making them mad.”

Ms. Southern described the situation differently. “We asked the question because we knew it was going to force people to question their own political views and realize the contradiction in being a hard-core feminist but also supporting a religion that, quite frankly, has questionable practices around women,” she said. And, she added, they used video techniques that any media company would use.

A clothing store in Lower Manhattan. Retail sales in the United States last month exceeded expectations.
Credit…Gabby Jones for The New York Times

Global stocks rose on Friday after a string of strong economic reports and company earnings.

The S&P 500 was set for its fourth straight week of gains after reaching a record high on Thursday. The Stoxx Europe 600 rose 0.6 percent on Friday, climbing to a record. The FTSE 100 in Britain climbed above 7,000 points for the first time since February 2020. Stock indexes in Japan, Hong Kong and China all closed higher.

On Thursday, data showed U.S. retail sales in March leapt past expectations, increasing by nearly 10 percent, and initial state jobless claims fell last week to their lowest level of the pandemic. China reported on Friday that its economy grew by 18.3 percent in the first three months of the year compared with the same period last year, when swathes of the country had been shut down because of the coronavirus pandemic.

This week, banks including Goldman Sachs and JPMorgan Chase reported better-than-expected earnings, and their chief executives delivered upbeat economic forecasts.

The yield on 10-year Treasury notes slipped to 1.57 percent on Friday. Last month, concerns that government spending would overheat the economy and lead to higher inflation sent bond yields shooting higher, to 1.74 percent on March 31. But those worries appear to have soothed. Central bank officials have repeatedly said they expect increases in inflation to be temporary. Earlier this week, data showed that prices in the United States rose 2.6 percent in March from a year earlier, a larger-than-normal increase partly because prices of some items fell in March 2020 as the pandemic took hold.

Another reason yields have drifted lower is a “remarkable” demand for bonds, ING, a Dutch bank, said. Recent Treasury bond auctions have received more bids than normal, and JPMorgan Chase sold $13 billion of bonds on Thursday, the biggest sale ever by a bank, according to Bloomberg.

“Cash has to go somewhere, and it can’t all go into equities,” the ING analysts wrote in a note to clients.

  • Shares of the cryptocurrency marketplace Coinbase dropped just over 1 percent in premarket trading as other cryptocurrency-related stocks also fell. Riot Blockchain shares were down 6 percent and Bit Digital shares fell 10 percent in premarket trading. Bitcoin’s price dropped below $61,000 on Friday. It had reached a record high above $64,000 on Wednesday.

  • The Russian ruble rose 0.7 percent against the U.S. dollar as traders digested new financial sanctions against Russia and determined that some of them, such as a ban on directly buying Russian government bonds, would only have a limited economic impact.



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