May 9, 2017

Parts makers salivate over rush to electric cars

John Amis / AP

A series of major automakers — including Volkswagen and Daimler — are ramping up their investments with a competitive eye on Tesla, reports Bloomberg.

  • The problem: "Electric carmakers will have to deal with increased costs until about 2025, amid an industry-wide push to make the vehicles more appealing to the mainstream market."
  • The short-term: "High battery costs, limits to driving ranges and charging times mean that electric cars won't have an economic advantage over combustion engines until 2025," Wolfgang Schaefer, CFO of automotive supplier Continental, told Bloomberg, noting that the payoff on these vehicles will take years to materialize.
  • The long-term: Suppliers like Continental sell electric power parts for more than they are currently making from conventional combustion cars.

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Updated 27 mins ago - Politics & Policy

Updates: George Floyd protests continue for 8th day

Police officers wearing riot gear push back demonstrators outside of the White House on Monday. Photo: Jose Luis Magana/AFP via Getty Images

Protests over the death of George Floyd and other police-related killings of black people continued Tuesday across the U.S. for the eighth consecutive day, prompting a federal response from the National Guard, Immigration and Customs Enforcement and Customs and Border Protection.

The latest: The National Park Service said in a statement Tuesday that while it "is committed to the peaceful expression of First Amendment rights," it "cannot tolerate violence to citizens or officers or damage to our nation’s resources that we are entrusted to protect."

American carnage

Protesters race up a hill to avoid tear gas in Philadelphia, June 1. Photo: Mark Makela/Getty Images

The list of victims has swiftly grown since George Floyd died in police custody just eight days ago.

The big picture: Protests against police brutality have turned into a showcase of police brutality, with tear gas and rubber bullets deployed against crowds. The police have the arsenals at their disposal, but we're also seeing law enforcement officers becoming targets.

McConnell blocks resolution condemning Trump's actions against peaceful protesters

Senate Majority Leader Mitch McConnell (R-Ky.) blocked a resolution introduced by Minority Leader Chuck Schumer (D-N.Y.) on Tuesday that would have condemned the use of tear gas and rubber bullets against peaceful protesters outside the White House on Monday in order to allow President Trump to walk to St. John's Church.

What they're saying: "Justice for black Americans in the face of unjust violence, and peace for our country in the face of looting, riots, and domestic terror. Those are the two issues Americans want addressed," McConnell said on the Senate floor.