Sep 9, 2018

Mercedes-Benz unveils first electric car in new series

Dieter Zetsche, Head of Mercedes-Benz Cars, speaks during the unveiling of the Mercedes-Benz electric SUV, the Mercedes EQC. Photo: Soren Andersson/AFP/Getty Images

Mercedes-Benz is going "all in" on electric cars says Dieter Zetshe, CEO of Mercedes' parent-company Daimler, according to Bloomberg.

The details: Production on the first car in a new series of battery-powered vehicles, called the Mercedes EQC, starts next year. Mercedes plans to invest $12 billion in its move towards electric vehicles. The vehicles will be built at the same assembly plants as the non-electric cars "to be able to better adjust output," Bloomberg reports.

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Unemployment rate falls to 13.3% in May

Photo: Steve Jennings/Getty Images

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show improvements in a job market devastated by the coronavirus pandemic as economies reopen, the government said.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

While economists predict that today's nonfarm payrolls report will show around 20 million Americans were unemployed in May, it's likely the real number is close to double that.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.

1 hour ago - Sports

How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.