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An employee looks out over the petroleum-cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery in Nizhny Novgorod, Russia.

Andrey Rudakov | Bloomberg | Getty Images

This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

It feels like markets are reliving the worst of 2022. But investors still hope for a fresh start this year.

What you need to know today

  • PRO With its earnings beat and vast restructuring plan, Disney has been making the news lately. But is it wise entering the Magic Kingdom? Two investors make their case for and against buying the stock.

The bottom line

A selloff in the U.S. markets, rising oil prices and escalating U.S.-China tensions — it feels like we’re back in the worst part of 2022.

U.S. stocks had a terrible week. The Nasdaq dropped 0.61% on Friday, giving it a 2.41% loss for the week. The Dow gained 0.5% and the S&P rose 0.2%, but they still ended the week lower, with the S&P turning in its worst weekly performance in nearly two months.

Higher energy prices are back, too. The Brent contract for April, which covers oil from Europe’s North Sea, hit $86.39 a barrel, having risen more than 8% for the week. U.S. West Texas Intermediate crude futures rose to $79.72 a barrel, an 8.63% increase for the week — its best since October. Those prices spiked about 2% each on Friday after Russia said it would cut oil production next month to retaliate against Western sanctions.

Relations between the United States and China are fraying. After the U.S. shot down a suspected spy balloon last week, the Commerce Department imposed sanctions on six Chinese aerospace companies that it said support China’s espionage program. On Sunday, the U.S. military shot down a fourth unidentified object — following a second object downed on Friday and a third over the Yukon on Saturday. Though the objects’ origins are still unclear, it’s increasingly likely more sanctions will come.

Amid all that, investors are focusing on the upcoming U.S. consumer price index reading for January with renewed intensity. The numbers will indicate whether we’ll be forced to relive the dark days of 2022, or if there’s hope in at least one part of the economy — America’s consumers.

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Waymo pauses robotaxi service in San Francisco after blackout chaos — Musk says Tesla car service unaffected

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Waymo pauses robotaxi service in San Francisco after blackout chaos — Musk says Tesla car service unaffected

Alphabet-owned Waymo has suspended its driverless ride-hail service in the San Francisco Bay Area after blackouts plagued the city Saturday afternoon.

“We have temporarily suspended our ride-hailing services in the San Francisco Bay Area due to the widespread power outage,” a Waymo spokesperson tells CNBC. “Our teams are working diligently and in close coordination with city officials, and we are hopeful to bring our services back online soon. We appreciate your patience and will provide further updates as soon as they are available.”

Waymo notice of service outage in San Francisco.

Source: Waymo

As power outages spread yesterday, videos shared on social media appeared to show multiple Waymo vehicles stalled in traffic in different parts of the city.

San Francisco resident Matt Schoolfield said he saw at least three Waymo autonomous vehicles stopped in traffic Saturday around 9:45 p.m. local time, including one he photographed on Turk Boulevard near Parker Avenue.

“They were just stopping in the middle of the street,” Schoolfield said.

A Waymo vehicle stuck between Parker and Beaumont, on the north side of Turk Boulevard in San Francisco.

Credit: Matt Schoolfield

The power outages began around 1:09 p.m. Saturday and peaked roughly two hours later, affecting about 130,000 customers, according to Pacific Gas and Electric. As of Sunday morning, about 21,000 customers remained without power, mainly in the Presidio, the Richmond District, Golden Gate Park and parts of downtown San Francisco.

PG&E said the outage was caused by a fire at a substation that resulted in “significant and extensive” damage, and said it could not yet provide a precise timeline for full restoration.

San Francisco Mayor Daniel Lurie said in a 9 p.m. update on X that police officers, fire crews, parking control officers and city ambassadors were deployed across affected neighborhoods as transit service gradually resumed. “Waymo has also paused service,” Lurie said.

Amid the disruption, Tesla CEO Elon Musk posted on X: “Tesla Robotaxis were unaffected by the SF power outage.”

Unlike Waymo, Tesla does not operate a driverless robotaxi service in San Francisco.

Tesla’s local ride-hailing service uses vehicles equipped with “FSD (Supervised),” a premium driver assistance system. The service requires a human driver behind the wheel at all times.

According to state regulators — including the California Department of Motor Vehicles and California Public Utilities Commission — Tesla has not obtained permits to conduct driverless testing or services in the state without human safety supervisors behind the wheel, ready to steer or brake at any time.

Tesla is vying to become a robotaxi titan, but does not yet operate commercial, driverless services. Tesla’s Robotaxi app allows users to hail a ride; however, its vehicles currently have human safety supervisors or drivers on board, even in states where the company has obtained permits for driverless operations.

Waymo, which leads the nascent industry in the West, is Tesla’s chief competitor in AVs, along with Chinese players like Baidu-owned Apollo Go.

The outage-related disruptions in San Francisco come as robotaxi services are becoming more common in other major U.S. cities. Waymo is among a small number of companies operating fully driverless ride-hailing services for the public, even as unease about autonomous vehicles remains high.

A survey by the American Automobile Association earlier this year found that about two-thirds of U.S. drivers said they were fearful of autonomous vehicles.

The Waymo pause in San Francisco indicates cities are not yet ready for highly automated vehicles to inundate their streets, said Bryan Reimer, a research scientist at the MIT Center for Transportation and co-author of “How to Make AI Useful.”

“Something in the design and development of this technology was missed that clearly illustrates it was not the robust solution many would like to believe it is,” he said.

Reimer noted that power outages are entirely predictable. “Not for eternity, but in the foreseeable future, we will need to mix human and machine intelligence, and have human backup systems in place around highly automated systems, including robotaxis,” he said.

State and city regulators will need to consider what the maximum penetration of highly automated vehicles should be in their region, Reimer added, and AV developers should be held responsible for “chaos gridlock,” just as human drivers would be held responsible for how they drive during a blackout.

Waymo did not say when its service would resume and did not specify whether collisions involving its vehicles had occurred during the blackout.

Tesla and the National Highway Traffic Safety Administration did not immediately respond to requests for comment.

This is a developing story. Please check back for updates.

CNBC’s Riya Bhattacharjee contributed reporting.

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I just tested one of the lightest electric bikes ever: Dahon K-Feather review

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I just tested one of the lightest electric bikes ever: Dahon K-Feather review

The Dahon K-Feather is one of those electric bikes that makes a lot more sense the longer you ride it. On paper, it looks rather low-power and low-capacity compared to the spec sheets for most e-bikes. In practice, especially when used exactly as intended, it turns out to be a remarkably well-executed urban commuter that still feels refreshingly different years after its release.

Launched earlier this year by Dahon, a brand best known for decades of folding bike experience, the K-Feather was never meant to compete with high-power folding e-bikes loaded with throttles, suspension, and giant batteries.

Instead, it aims for something far simpler: a super lightweight folding bike that just happens to have electric assist.

A lightweight e-bike, even by light e-bike standards

At around 26 lb (11.8 kg), the K-Feather is shockingly light for an electric bike, even by today’s standards. Pick it up and it barely registers as an e-bike at all. That’s largely thanks to its extremely minimalist design, highlighted by the cleverly hidden battery integrated into the seatpost.

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The 24V 5Ah battery offers roughly 120 Wh of capacity, which is undeniably small, but it also avoids the bulky look and awkward weight distribution that many early e-bikes suffered from.

The result is a bike that feels balanced, easy to carry, and genuinely pleasant to live with in an urban environment. Folding it up is quick and intuitive, and carrying it up stairs or onto public transport doesn’t feel like a chore. For apartment dwellers, train commuters, or anyone combining cycling with other forms of transportation, this matters a lot.

I’m not sure how else to say this without beating a dead horse, but it is just incredibly lightweight. When you pick it up, your brain just sort of short-circuits as it fails to compute that this is still an electric bike.

Simple, subtle electric assist

Power comes from a 250W rear hub motor that provides pedal assist only. There’s no throttle, no complex display, and no attempt to turn the K-Feather into something it isn’t. The assist tops out around 15.5 mph (25 km/h), aligning more with European-style pedelec limits than US Class 2 or Class 3 expectations.

For those accustomed to American-style electric bikes, that may sound quite slow. And if you’re trying to keep up with traffic on the shoulder of a busy road, it is slow. But this e-bike is more designed for bike lane cruising, where 15 mph means you’re easily keeping up with, or passing, most pedal bike riders.

The assist itself is quiet and unobtrusive. It doesn’t leap forward when you start pedaling, and it doesn’t overpower the ride. Instead, it feels like a gentle push that smooths out stop-and-go city riding and takes the edge off short climbs and headwinds. You still feel like you’re riding a bike, just a slightly stronger version of yourself.

The torque sensor definitely does its job, coming on quickly and effectively without being lurchy, though it’s hard for a 250W motor to feel lurchy anyway. But with an effective torque sensor instead of a laggy pedal assist sensor, the minimal assist still feels nice and natural, as if you’re simply always pedaling with a tailwind.

That riding feel is a big part of the K-Feather’s charm. It doesn’t try to impress you with acceleration or brute force. It simply makes urban cycling easier, calmer, and more approachable. It’s not a powerhouse, but rather a sensible commuter.

Where the limitations show up

There’s no getting around the fact that the K-Feather’s small battery and modest motor define its limits. Range is typically quoted at around 15 to 20 miles (25 to 40 km), and that’s realistic if you’re riding on relatively flat terrain and contributing a reasonable amount of pedal effort. Start pushing hills hard or riding aggressively, and that number will drop.

There aren’t multiple pedal assist levels, so it’s not like you can drop it into lower pedal assist power to save battery. Instead, range largely comes down to your weight, your riding, speed, and how hilly your terrain proves to be.

Similarly, steep climbs will quickly reveal the bike’s low power output. This is not a hill crusher, and it’s not pretending to be one. The single-speed drivetrain reinforces that reality, keeping things simple and low maintenance but limiting flexibility when terrain gets demanding.

The V-brakes look old-school, sure. But I wouldn’t actually ding them here because they seem to work great. I had rim brakes for a long, long time. And while I enjoy the stopping power and low maintenance of hydraulic disc brakes, I can’t ignore the fact that when I yank on these stoppers, I quickly find myself stationary. So yeah, pooh-pooh them all you want for being older tech, but they work.

And lastly, I do wish the tail light and headlight were powered by the main e-bike battery. Instead, they have their own dedicated rechargeable batteries. It works, but it’s one more thing to remember to charge every now and again.

For riders coming from American-style, high-powered e-bikes, these constraints might feel significant. But context matters here, and that’s the thing to keep in mind for anyone considering an ultra-lightweight e-bike like this. The K-Feather isn’t trying to replace a car or handle long suburban commutes. It’s designed for short urban trips, last-mile riding, and compact living situations, and in that role, its limitations feel more like trade-offs than flaws.

In its element: city commuting

The key takeaway for me is that the K-Feather works best as a runabout in a dense city environment, which is where it makes perfect sense. Short trips between neighborhoods, errands, commuting a few miles to work, or riding to a train station are exactly what it excels at. Its light weight makes it easy to carry inside rather than locking up outside, and its discreet appearance doesn’t scream “expensive e-bike.”

In fact, at around US $1,299 depending on current pricing and sales, that’s a pretty darn good price for an ultra-lightweight e-bike. We’re used to seeing e-bikes in this price range fetch higher figures in the $3,000 to $4,000 range (and sometimes even much more) from exotic frame materials and obscure drivetrains. But the K-Feather just uses clever engineering that tracks with Dahon’s decades of design legacy to create something light yet stiff, and without breaking the bank.

The small wheels and compact geometry make it nimble in traffic, and the assist smooths out frequent starts and stops at intersections. You arrive less sweaty and less fatigued, but still feel like you actually rode a bike rather than being carried by a motor.

This is also a bike that appeals to riders who want electric help without fully committing to the idea of an e-bike. It’s unintimidating, visually understated, and mechanically simple. For many people, that’s a feature, not a drawback.

Final thoughts

The Dahon K-Feather isn’t for everyone, and it certainly isn’t trying to be. If you want high speed, long range, or hill-dominating power, this is not the bike for you. I’d recommend that you look elsewhere (and be prepared to lift several more kilos).

But if you want a genuinely lightweight folding e-bike that integrates electric assist in a subtle, elegant way, it still holds up remarkably well. And folds up remarkably well, too.

Used in its intended environment as a city-focused commuter and last-mile bike, the K-Feather works exactly as promised. It’s simple, refined, and quietly effective, and that’s a combination that remains surprisingly rare in the e-bike world.

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BYD now lets owners share home chargers through their app

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BYD now lets owners share home chargers through their app

BYD is taking a page from the Airbnb playbook by launching a home charger sharing system that lets EV owners open up their personal charging equipment to other BYD drivers — and get paid for the convenience.

Instead of waiting for utilities or charging networks to build out more public infrastructure, BYD is effectively crowdsourcing existing capacity from home chargers its customers have already installed, turning underused residential charging equipment into a shared resource while its owner is at work or away.

Also like Airbnb, the app allows the charger’s owner and user to settle the pricing and availability and other transaction details between themselves, with contact information and messaging also going through the app.

Great, if not totally unique idea


XPeng home charging; via CarNewsChina.

BYD’s system seems to be more polished and, thanks to the integrated card reader, a bit more accessible than similar concepts from Nio and XPeng. XPeng’s system allows charger owners to set different electricity prices at different times (ex.: off-peak electricity at 0.35 yuan/kWh, significantly lower than peak), to cover their electricity costs.

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The XPeng system also only seems to support automatic payment through the app, as opposed to the BYD system that bakes a card reader right in.

Electrek’s Take


BYD-Atto-1-EV-Australia
Atto 1, via BYD.

I don’t know enough about the public charging scene throughout China – a massive country half a world away – to know how much of a need this is serving, but here in the US, I seem to recall that this was more or less PlugShare’s original concept, and could easily imagine a half-dozen scenarios outside of an Airbnb where a simple, app-based system like this could play out positively for both the EV driver and the equipment owner.

Multifamily apartments or condos with deeded spaces, churches, schools, municipal buildings, or other spaces that sit empty most days could be great uses for this, and I bet you guys could think of two or three more. I look forward to hearing about them, and whether or not a brand-specific network could help move the needle for a brand like Harley or Jeep that’s struggling with its EVs, in the comments.

SOURCE | IMAGES: BYD, via CarNewsChina.


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