Category: Money

TheStreet 

The German automaker rolls outs the ID.7 with a colorful display and it continues its push to be all-electric.

The chameleon is getting some competition. 

Volkswagen  (VWAGY) – Get Free Report showcased its ID.7 electric sedan at the Consumer Electronics Show in Las Vegas.

The ID.7 marks Volkswagen Group of America’s return to CES after a six-year hiatus and it was something to see–even by Vegas standards.

The debut model sported so-called smart camouflage that combines some wild technology and multi-layered paintwork to create a kind of rolling light show on parts of the vehicle.

VW calls this “an interactive feature and symbolizes the next step in the digitalization of the future flagship model of Volkswagen’s EV family.”

“No fewer than 40 layers of paint have been applied, some of which are conductive while others have insulating properties,” Volkswagen said in a statement. “A total of 22 areas of the vehicle can be controlled separately and are electrified below the top layer of paint (electroluminescence) so that they light up.”

And if all of this is connected to a sound system, VW said, “the rhythm is visualized by illumination of individual areas.”

The QR codes on the hood and on both sides will allow an authorized user to control the vehicle’s paint job through their smartphones. The camouflage also hides the contours of the final production vehicle.

The vehicle is based on the ID.Aero, which Volkswagen introduced in China last year, and is expected to achieve a range of 700 km, or about 435 miles.

Volkswagen

VW to Roll Out 10 New Electric Models by 2026

And the ID.7, which has a 116.9-inch wheelbase, works off VW’s modular electric drive matrix, just like the ID.4 and the ID.Buzz, the electric minivan that was inspired by the Volkswagen’s Microbus.

Thomas Schäfer, CEO of Volkswagen Passenger Cars, said the ID.7 is one of 10 new electric models that the German automaker is planning to launch by 2026. 

Volkswagen said it responded to customer feedback to improve the customer experience, so an augmented reality head-up display, 15-inch central infotainment screen, digitally controlled air vents and illuminated touch sliders will come as standard.

Special requests can be activated using voice commands. If the user says “Hello Volkswagen, my hands are cold!”, the ID.7 will start he steering wheel heating function and direct warm air towards the driver’s hands.

Volkswagen will premiere the production version in the second quarter of 2023.

Volkswagen Launching EV in Markets Around the World

Volkswagen plans to launch the electric sedan in the three primary markets of China, Europe and North America. The ID.7 for the European market will be produced at the Volkswagen Emden plant, the second MEB vehicle produced there, after the ID.4.

VW said that since the first ID.3 models were handed over to customers in September 2020, the automaker has delivered more than 500,000 MEB vehicles worldwide through its subsidiaries, which is roughly a year earlier than planned and despite the ongoing difficulties in the supply chain.

Volkswagen CEO Oliver Blume, who recently took the helm from the departing Herbert Diess, is reportedly planning to accelerate the company’s plans to go all-electric as VW looks to take on Tesla  (TSLA) – Get Free Report.

CES, which runs from Jan. 5-8, bills itself as “the most influential tech event in the world,” will feature 3,100 exhibitors in a display of the latest developments in the electronics sector.

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TheStreet 

This move could begin to clear our overloaded brains and make room for more creativity.

In my 15+ years as a journalist, there has been one thing that every colleague I’ve ever worked with has had more or less the same reaction to: big meetings.

The more meetings a person has, the unhappier they seem. One ex-boss of mine had a cross-stitched sign hanging up next to her desk that simply said, “I survived another meeting that could have been an email.” 

Compound this eternal dislike with the mental numbness of a pandemic that forced folks to have all their meetings via video screen — a phenomenon nicknamed “Zoom fatigue” — and it’s hardly a surprise that people are less able to pay attention at work than ever before.

C-Suite employees perhaps have the worst of it, often being booked in back-to-back meetings for 10 hours or more. Despite scientific data proving that people’s attention spans deteriorate after 30 minutes in meetings, eventually lowering overall cognitive function, businesses continue to book them, often with little to no rest time in between (even though it’s also been proven that the breaks are crucial for mental health).

Rafael Henrique/SOPA Images/LightRocket via Getty Images

How Shopify Is Changing Meeting Culture

In an internal memo to employees sent on January 3, Shopify CEO Kaz Nejatian announced that all previously scheduled recurring work meetings with three or more people would be removed from their calendars, and a two-week “cooling off” period would be enforced before any meetings could be scheduled.

Nejatian also announced that meeting-free Wednesdays would be reinstated and large meetings (50 people or more) would be limited to a six-hour window on Thursdays. The deleted meetings clear up more than 76,500 hours from employee work calendars. 

This is one of several changes Shopify has made since announcing layoffs in July 2022, which affected 10% of its workforce. The commerce platform also just launched Commerce Components, offering a stack for online retailers that grants access to Shopify’s component structure.

Why This Matters So Much

While more and more companies are mobilizing toward providing employee support for mental healthcare or launching their own programs to help their ranks stay sane, often everyday things that can chip away at people’s mental health, like too many meetings, are overlooked. 

While it’s less unusual these days for independent companies to adapt models like the four-day workweek to help employees avoid burnout, most large companies have not tried it (Panasonic being an exception).

With more than 16,000 employees, Shopify’s move has the power to send ripples across the industry and change what people expect from the workplace. And as one of those employees that has been through countless meetings over the years that, as my old boss clearly believed, “could have been an email,” I can say that I am looking forward to that change. 

Meetings with one or two people, or even a small cluster, can be powerful as long as everyone in the room is able to connect on a genuine level. But add dozens or hundreds to that, and it’s simply impossible for each person to be heard — which can contribute to feelings of being unimportant, just a cog in a bigger machine, or even to “quiet quitting.”

So while it’s easy to demonize meetings and say we should get rid of them entirely, I don’t believe meetings are truly the problem. But if the ones that are scheduled are intentional and well thought out, both bosses and employees could feel better about being a part of them — not to mention a lot less bored.

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TheStreet 

Whether you need coffee, a cocktail or a Broadway show, there’s a lot to look for guests to look forward to in 2023.

Disney has theme parks all over the world, and each one of them has more rides, experiences and attractions than many people could hope to see in a day. 

Whether you are treating your children or grandchildren to a formative experience, or you’re on a Spring Break adventure with your best bud, remember to pace yourself, drink plenty of water and refuel from time to time. 

While we wouldn’t say that Disney theme parks can be exhausting, it is important that you sustain yourself before making the trek all the way from Splash Mountain to Tomorrowland. 

While you can usually just grab a quick hot dog from a stand at nearly any Disney theme park, there’s also plenty of plenty of sit-down options in case you need to get off your feet. 

Disney’s theme parks are always a work in progress, and there’s seemingly always a renovation going on somewhere or a new ride being developed. Disney’s dining experiences are also constantly changing, and Chef Mouse has plenty in store for guests this year.

Here’s some new additions and tweaks to expect in 2023, as noted by Theme Park Tourist.

Roundup Rodeo BBQ at Disney’s Hollywood Studios

Fans of Disney’s Hollywood Studios have been hearing about a new barbeque addition to the Toy Story Land for years now. After years of delay, Roundup Rodeo BBQ is set to open this spring. It will reportedly be served family-style, and will be located near a newly installed rodeo area located by the Woody Toy Story land entrance sign.

Disney theme park Imagineers worked with animators and designers at Pixar to bring a variety of fun touches to the restaurant, including comic strips about Woody’s adventures, a steam train supported by colored pencils, and game boards featuring beloved characters from the “Toy Story” films. Rodeo stars from the film Jessie, Trixie, and Bo Peep with her sheeps Billy, Goat, and Gruff will all be in attendance.

Carousel Coffee at Disney’s Boardwalk

Disney has also launched a new fancy coffee shop near the Boardwalk resort at Disney World, in case you need to perk up.

Carousel Coffee, which is set to open in the next few weeks, will serve both specialty drinks and breakfast pastries for all of the early risers, including:

Dark Cherry Mocha Frozen Blended Coffee Cinnamon Bun Frozen Blended CoffeeNitro Cold Brew CoffeePomegranate-Green Tea LemonadeCrunchy Raspberry DanishVintage Mickey & Minnie Sugar CookieBanana BreadCroissant, Blueberry MuffinChocolate MuffinNJ Crumb Cake

Trader Sam’s Grog Grotto at Disney’s Polynesian Village Resort

Look, we’re sure your child or grandchild is great and all, but kids have so much energy that you might need to responsibly take the edge off, at least a little.

Well, the good new limited-edition tiki mug, featuring Jose from the Enchanted Tiki Room, has been introduced at the Trader Sam’s Grog Grotto at Disney’s Polynesian Village Resort. You’ll need to drop by the Grog Grotto after 3 p.m. to get a wristband to purchase this big boy, which costs $50. 

Your options include the Manu Aloha (which includes Leblon Cachaça, Pineapple, Lime, Mint, and Agave garnished with a lime wheel) or, if you are feeling extra-responsible, the non-alcoholic Blame It On The Samba (which includes Fever-Tree Ginger Beer, Pineapple, Lime, Mint, and Agave Garnished with a fresh Orchid).

Disney

Tokyo Dining at EPCOT

It’s not all good news on the Disney dining front at the moment. While Disney World’s EPCOT invites guests to travel all around the world without leaving Central Florida, one option is going to be off the table for the immediate future. Tokyo Dining will close for a multi-month refurbishment, and is set to re-open in the summer.

Takumi-Tei at EPCOT

But if you simply must have high-end Japanese food the next time you are in Tokyo, you are in luck. But it’s going to cost you.

Takumi-Tei is set to introduce two new omakase multi-course meals, one that is omnivorous (and that will include wagyu steak, roasted duck, and Chilean sea bass) for $250 and a plant-based option for $150. 

The meals are available from Thursday through Monday from 5 p.m. to 7:30 p.m., and are available on a walk-in basis.

Disney

Fantasmic! at Disney’s Hollywood Studios

After a lengthy hiatus, the lights and fireworks nighttime show Fantasmic! Disney’s Hollywood Studios. But it’s not just about lights in the sky, as there are also specialty-themed Fantasmic! dining package for several of the park’s restaurants.

50s Prime Time Cafe – $51 for adults, $22 for kidsHollywood & Vine – Breakfast: $54 for adults, $36 for kids Dinner: $71 for adults, $47 for kidsMama Melrose’s Ristorante Italiano – $54 for adults, $22 for kidsSci-Fi Dine-In Theater Restaurant – $49 for adults, $22 for kidsThe Hollywood Brown Derby – $73 for adults, $29 for kids

Disney on Broadway at EPCOT

After dinner, why not take in a show?

As part of the Disney on Broadway series at EPCOT, reservations are now available for dining packages that include guaranteed seating for this year’s concert series.

This year’s confirmed performers include Kara Lindsay, Kevin Massey, Arielle Jacobs, Adam Jacobs, Patti Murin, Robert Creighton, Mandy Gonzalez, L. Steven Taylor, Kissy Simmons, Josh Strickland, Ashley Brown, and Michael James Scott.  

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Business Insider 

Federal Reserve Chair Jerome Powell.

Anadolu Agency/Getty Images

US stocks rose Wednesday but closed off session highs as fresh signs pointed to more Fed hawkishness. 
Minutes from the Fed’s December meeting indicated rates could stay higher for longer. 
Meanwhile, job openings topped views, signaling that the labor market remains tight.

US stocks rose Wednesday but closed off session highs as fresh signs pointed to more hawkishness from the Federal Reserve. 

Minutes from the Fed’s December meeting indicated rates could stay higher for longer as policymakers “stressed that it would take substantially more evidence of progress to be confident that inflation was on a sustained downward path.”

Fed officials also expressed concern that any market rally could obstruct their campaign to bring inflation back down to the 2% target.

Meanwhile, job openings data for November showed 10.46 million positions available, topping views for 10 million and signaling that the labor market remains tight.

Here’s where US indexes stood at the 4:30 p.m. closing bell on Wednesday: 

S&P 500: 3,852.96, up 0.75%Dow Jones Industrial Average: 33,269.77, up 0.40% (133.40 points)Nasdaq Composite: 10,458.76, up 0.69%

Here’s what else is going on: 

Crypto firm Genesis is telling clients more time is needed to sort out its financial situation amid scrutiny.Lower crude oil exports hammered Russia’s revenue from duties by $15 million at the end of 2022. Fairlead’s Katie Stockton is predicting a “volatility event” will hit markets this year. A hedge fund manager who returned 163% in 2022 said stock-market pain is only beginning.US prosecutors formed a task force to recover billions of dollars of missing funds belonging to FTX customers.

In commodities, bonds, and crypto: 

Oil prices added to early losses, with West Texas Intermediate down 5.06% at $73.08 a barrel. Brent crude, the international benchmark, fell 4.93% to $78.03 a barrel.Gold ticked up 0.67% to $1,852.05 per ounce.The 10-year Treasury yield fell 9.4 basis points to 3.70%.Bitcoin fell 0.57% to $16,840.56.

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Business Insider 

Andrew Burton/Getty Images

Oil prices will rise above $100 a barrel in 2023, according to a projection in the Eurasia Group’s top risks of the year. 
Oil demand looks poised to grow as China recovers quickly after backing off zero-COVID polices and the US experiences only a shallow recession. 
Brent and WTI crude prices recently traded below $78 a barrel each. 

Oil prices will spring back above $100 a barrel in 2023 as tight supply meets growing demand, the political research and consultancy firm Eurasia Group said in its list of top risks this year. 

That would represent a 28% increase in the price of international benchmark Brent crude, which traded around $77.90 a barrel on Wednesday. Calculating for West Texas Intermediate crude, the increase would be 37% from $72.80 a barrel. 

The oil market is poised to experience shocks this year on the back of a faster-than-expected economic recovery in China after the country’s sudden exit from zero-COVID policies along with a shallow recession in the US that won’t sink demand, wrote Ian Bremmer, president and founder of Eurasia Group, and Cliff Kupchan, the firm’s chairman and head of global macro coverage. 

They said those two factors would bolster demand growth for crude oil and expose an acute lack of new supply. 

“Contributing to the problem are Russian production declines amid continued sanctions, low levels of OPEC+ spare capacity, reduced capital investment in non-OPEC production, and the absence of an Iran nuclear deal,” said the firm, noting that the lack of such a nuclear agreement is also on its list of risks.  

Tensions are likely to rise between OPEC+ and global consumers — led by the US — as the oil cartel wants to protect a price floor of about $90 per barrel for Brent, which is at odds with the lower prices for oil that consumers want.   

“Higher prices will prompt the US to intervene directly in markets and punish moves by oil-producing states it sees as (at least partially) politically motivated,” Eurasia Group projected. 

Meanwhile, US natural gas prices will go up and “feel the strain” from the European Union’s need to rebuild gas storage from the second quarter of this year in the absence of cheap Russian supplies.

China’s economic recovery and increased global demand for liquefied natural gas will likely drive US natural gas prices closer to $8 per million British thermal units or more.

Last year, natural gas topped $8 as European demand fed US price gains. They have since tumbled amid unseasonably warm weather and traded around $4.056 on Wednesday. 

“In short, the respite in energy markets this winter will be temporary – the eye of the hurricane before a renewed energy crunch adds to pressure on consumers, puts fiscal strain on governments, and deepens divides between developed and developing nations and the United States and Gulf countries,” wrote Bremmer and Kupchan.

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Ever since Apple added MagSafe to the iPhone with the 12, it’s been the way to wirelessly charge faster and gain extra functionality through a number of accessories. The latest one is solving a pretty common problem.

While MagSafe makes it easy to attach an accessory like a battery pack or even lock the iPhone into a mount, it blocks the ability from attaching a grip to the back of the phone. And now, debuting at CES 2023, Otterbox has a solution.

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The OtterGrip Symmetry Series is a case for the iPhone with a built-in grip that supports MagSafe. The grip can be popped out to easily hold your phone, but can also sit flush with the case itself when it’s not engaged. Meaning that you can easily attach the MagSafe charging puck or another accessory that needs the proper alignment to function.

Now you can attach that MagSafe accessory without taking your case off or having to fuss around with the integrated grip. It’s a pretty well engineered accessory and walks away with a CES Innovation Award. The Grip itself is strong enough to support one holding the phone, but also stretchy enough to easily collapse down. It’s also rotatable by a full 360-degrees which allows you to hold it however you like.

The durability that Otterbox is known for is in full force here as well. This is a Symmetry Series after all and it’s rated with a 3x military standard drop protection. The lips around the screen as well as the camera module on the back are raised to protect these elements.

The OtterGrip Symmetry Series will be available for the iPhone 13, 14, 14 Plus, 14 Pro, and 14 Pro Max. Regardless of which model, it will be $59.95 and comes in a range of designs. Those who want something simple can opt for a clean black or you can get a bit more vibrant with a range of colors or patterns.

As a whole this case really just makes sense and solves a pain point for many who have tried taking advantage of MagSafe, but maybe pushed it to the side in favor of having a grip on the back. Or vice versa by not using MagSafe and opting for a grip. With this, you can get the best of both worlds.

Prices are accurate and items in stock at time of publishing.

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Business Insider 

Rep. Lauren Boebert (R-CO) (R) delivers remarks next to House Republican Leader Kevin McCarthy (L) in the House Chamber during the second day of elections for Speaker of the House on January 4, 2023.

Chip Somodevilla/Getty Images

Rep. Lauren Boebert dismissed Trump’s plea to back Kevin McCarthy for House speaker.
Boebert said Trump should tell McCarthy to withdraw his bid.
McCarthy has lost five consecutive ballots for House speaker as of Wednesday afternoon.

Rep. Lauren Boebert on Wednesday rejected former President Donald Trump’s plea to support GOP leader Kevin McCarthy for House speaker and instead called on the ex-president to tell the California Republican to drop out of the race.

Boebert, a fierce Trump ally, is among the roughly 20 hardline conservative House Republicans who have repeatedly voted against McCarthy’s bid for the top post since the 118th Congress started on Tuesday at noon. 

“Let’s stop with the campaign smears and tactics to get people to turn against us, even having my favorite president call us and tell us ‘We need to knock this off,'” Boebert said on the House floor on Wednesday.

“I think it actually needs to be reversed,” she continued. “The president needs to tell Kevin McCarthy that, ‘Sir, you do not have the votes, and it’s time to withdraw.'”

Hours before, Trump had urged Republican members to unite behind McCarthy after he failed to secure a majority of 218 votes to become House speaker, losing three consecutive ballots on Tuesday.

“REPUBLICANS, DO NOT TURN A GREAT TRIUMPH INTO A GIANT & EMBARRASSING DEFEAT. IT’S TIME TO CELEBRATE, YOU DESERVE IT,” Trump wrote on his platform, Truth Social, before the House was set to resume its selection of who would control the lower chamber on Wednesday.

But as voting restarted, the 20 Republicans, including Boebert, remained steadfast in their opposition to McCarthy. In the fourth ballot, McCarthy came up short again, losing GOP support to Rep. Byron Donalds of Florida. 

For the fifth round, Boebert rose on behalf of the anti-McCarthy camp to nominate Donalds once more, and all 19 Republicans followed her lead in backing the Florida lawmaker. GOP Rep. Victoria Spartz of Indiana also withdrew her vote for McCarthy, voting “present” in both the fourth and fifth ballots.

The division within the Republican conference has forced the House into a standstill as no action — not even the swearing-in of members — can take place until a speaker is elected. 

McCarthy, for his part, has shown no sign of backing down from his fight for the gavel although it’s unclear if he has a pathway to victory. In his struggle to win votes, McCarthy’s made a number of concessions, including agreeing to a rule that would allow only five members, instead of the usual requirement of at least half of the GOP conference, to initiate a vote to oust the speaker.

But the GOP holdouts have refused to let up. A sixth vote is currently underway.

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