Author: Press Room

Exactly 70 years after the very first Chevrolet Corvette was unveiled in January, 1953, General Motors revealed the first Corvette with an electric motor on Tuesday. The front wheels of the 2024 Corvette E-Ray are powered by a 160 horsepower electric motor, while a 495 horsepower V8 gasoline engine powers the back wheels. With a maximum power output of 655 horsepower, the E-Ray is also the fastest-accelerating Corvette model ever, able to go from a stop to 60 miles an hour in 2.5 seconds. The name E-Ray, from the electric ray sea creature, is a play on the Stingray name…

DAVOS, Switzerland: China welcomes foreign investment and will continue to open up to the world, its Vice-Premier Liu He said on Tuesday (Jan 17), in an explicit pitch to global leaders in Davos as Beijing works to revive its slowing economy. The visit by China’s economic tsar to the World Economic Forum’s (WEF) annual meeting in the Swiss ski resort marks the first trip abroad by a high-level Chinese delegation since Beijing last month abruptly began dropping its “zero-COVID” curbs that shielded its 1.4 billion people from the virus. But the policy also cut off China from the rest of…

DETROIT – General Motors’ first-ever “electrified” Corvette will be available later this year starting at more than $104,000, the automaker said Tuesday.The vehicle also will be all-wheel drive, another first for the quintessential American sports car.The carmaker said the E-Ray, which GM first confirmed to CNBC last year, will be the quickest production Corvette ever. It will achieve 0-60 mph in 2.5 seconds and a quarter mile in 10.5 seconds – similar to some supercars and the current Corvette Z06 track car.2024 Chevrolet Corvette E-Ray hybrid sports carGM”It’s a testament to innovation that this car has represented throughout its 70-year…

KATHMANDU: Rescuers used drones and abseiled down a deep gorge on Tuesday (Jan 17) looking for the last missing person from Nepal’s worst air disaster in 30 years, in which at least 71 people died including children. Difficult terrain around the 200m gorge and poor weather was hampering rescue efforts near the tourist city of Pokhara, where the Yeti Airlines ATR 72 turboprop carrying 72 people crashed on Sunday just before landing. The search was called off after darkness descended, and will resume on Wednesday, said Tek Bahadur K.C., a top district official. Rescue teams were struggling to identify bodies,…

The European Parliament on Monday backed a plan to push for tighter rules on shipments of waste outside the bloc and to crack down on waste-related crime.The proposed rules are part of Brussels’ plan to reduce pollution and ensure that materials like plastic are reused and recycled, rather than thrown away.MEPs will now enter into talks with the EU Commission and member states.“Our ambitious position in the coming negotiations with member states has just been endorsed by a broad majority in plenary,” MEP Pernille Weiss said in a statement. “We have to turn waste into resources in the common market…

Washington CNN  —  Republican state Sen. Matt Dolan announced Tuesday that he will run for US Senate in Ohio in 2024, seeking to challenge Democratic Sen. Sherrod Brown in a state that has been trending toward the GOP in recent years. Dolan’s announcement makes him the first Republican to officially jump into what is expected to be a competitive race. Dolan, whose family owns the Cleveland Guardians baseball team, mounted an unsuccessful US Senate bid in 2022, finishing third in the GOP primary that was won by now-Sen. J.D. Vance. Notably, Dolan was able to tap his personal fortune for…

Crypto-focused US bank Silvergate swung to a $1bn loss in the last three months of 2022, underscoring how the lender has been rocked by the collapse of crypto prices and implosion of exchange FTX.The California-based bank reported a $1.05bn net loss for the fourth quarter, compared with a profit of $18.4mn in the same period a year earlier, and said it would slash its product offering and remove non-core customers in an attempt to cut costs.Silvergate has pivoted from being a small community lender to a crypto-focused bank in recent years and played an important role in providing services to…

Meta is taking to court a law enforcement intelligence company for gathering data about users of its Facebook and Instagram properties. The lawsuit, filed in a federal court in California, alleges that Voyager Labs, an international scraping and surveillance service, improperly collected data from those properties through fake accounts, which is a violation of the terms and conditions for use of the platforms. In a January 12 post at Meta’s Newsroom site, Director of Platform Enforcement and Litigation Jessica Romero explained that Voyager’s proprietary software uses fake accounts to scrape data accessible to a user logged onto Facebook. She added…

Prime Minister Anthony Albanese expressed his confidence in the Australian people to pass the Indigenous Voice to Parliament in an upcoming referendum but has shied away from saying whether his government would move to legislate regardless if it failed. The Prime Minister told Sky News host Chris Kenny on Tuesday he was “not contemplating failure” for the proposed body, despite mounting criticism from the Opposition over a lack of detail. “What I’m doing is being as optimistic as the Australian people are themselves,” he told Mr Kenny. News has never been more important. Stream more than 20 global & local news sources with…

Unilever CEO Alan Jope photographed at the World Economic Forum in May 2022.Hollie Adams | Bloomberg | Getty ImagesThe CEO of consumer goods giant Unilever said Tuesday that prices would likely continue to rise in the near term, adding that his firm had a playbook for high inflation thanks to its business dealings in markets like Argentina and Turkey.Speaking to CNBC’s Joumanna Bercetche at the World Economic Forum in Davos, Switzerland, Alan Jope talked about how his firm was managing its operations in the current climate.”For the last 18 months we’ve seen extraordinary input cost pressure … it runs across petrochemical derived…