Raphael Stevens

Jeep has redesigned an all-electric concept version of its flagship Wrangler, as the brand pivots from gas-guzzling SUVs to zero-emissions EVs.
The Jeep Wrangler Magneto 2.0 concept vehicle is capable of up to 850 foot-pounds of torque to the wheels and 625 horsepower.
Jeep is a key part of growth and electrification plans for Stellantis, the company formed last year through the merger of Fiat Chrysler and French automaker Groupe PSA.

Electric Jeep Wrangler Magneto 2.0 concept vehicle

DETROIT — Jeep has redesigned an all-electric concept version of its flagship Wrangler, as the brand pivots from gas guzzlers to zero-emissions EVs.
The Jeep Wrangler Magneto 2.0 concept vehicle comes a year after the Stellantis brand unveiled the first version of the all-electric SUV. Concept vehicles are custom products typically built by automakers to gauge customer interest or showcase the future direction of a vehicle or brand.

The concept SUV is based on Jeep’s traditional Wrangler Rubicon SUV, but the Magneto 2.0 offers a significant increase in performance, including achieving 0-60 mph in two seconds, according to the automaker. That’s faster than the Wrangler Magneto 1.0, at 6.8 seconds, and in line with Tesla’s ultra-performance Plaid models.
To achieve such performance, Jeep said the Magneto 2.0 is capable of up to 850 foot-pounds of torque to the wheels and 625 horsepower. It also includes a new electric powertrain calibration, which Jeep referred to as “electronic nitrous oxide,” to boost the 0-60 mph time. The system allows the vehicle to maintains the peak power for up to 10 seconds.

Electric Jeep Wrangler Magneto 2.0 concept vehicle

The most unique aspect to the Magneto is its six-speed manual transmissions, which electric vehicles don’t require. Jeep officials have said the e-transmission has the best characteristics of an automatic transmission with the direct-drive feel of a manual transmission — a key attraction for off-road enthusiasts.
Jeep debuted the Wrangler Magneto 2.0 online Friday ahead of the Jeep Easter Safari, an annual off-road event for the brand in Moab, Utah. Jeep regularly uses the event as a testing ground for the capabilities of its vehicles as well as a measure to gauge customer interest in new products.
Jeep did not release the electric range of the vehicle.

Because the Magneto is a concept, it is not for sale to consumers. However, Jeep is expected to produce an all-electric Wrangler at some point in the coming years.

Jeep is a key part of growth and electrification plans for Stellantis, the company formed last year through the merger of Fiat Chrysler and French automaker Groupe PSA. Stellantis is investing at least $35.5 billion in electric vehicles and supporting technologies through 2025.
Jeep CEO Christian Meunier has said every new Jeep will offer some form of electrification in the next few years. Those plans are expected to include all-electric vehicles as well as hybrid and so-called PHEVs that combine electrification with internal combustion engines such as the Grand Cherokee and Wrangler 4xe models that are currently on sale.
The Magneto 2.0 was released alongside four other custom or concept Jeep vehicles for the Moab off-roading event. Other vehicles included an off-road Grand Cherokee Trailhawk PHEV concept and other modified Jeep Wrangler and Gladiator vehicles.

Jeep Grand Cherokee Trailhawk PHEV Concept

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Asia, one of the regions most vulnerable to climate change, is also home to the biggest contributors of global warming.
In 2021, over 57 million people were affected by climate disasters in the region — and the risk Asia faces is only going to grow.
Asia plays a crucial role in global efforts to decarbonize because it accounts for almost half of global greenhouse gas emissions, but the region presents an uneven picture.

A boy searches for remaining food in polythene packets at roadside in Allahabad, India, on May 11, 2018. In 2021, over 57 million people were affected by climate disasters in Asia, the International Federation of Red Cross and Red Crescent Societies reported.
Sanjay Kanojia | Afp | Getty Images

Asia, one of the regions most vulnerable to climate change, is also home to the biggest contributors of global warming.
In 2021, over 57 million people were affected by climate disasters in the region, the International Federation of Red Cross and Red Crescent Societies reported.

And the risk Asia faces is only going to grow.
In a worst-case scenario, by 2050, a substantial majority of people living in areas with a probability of lethal deadly waves will be in Asia, according to a 2020 report by McKinsey Global Institute.
The United Nations’ Intergovernmental Panel on Climate Change (IPCC) released a highly anticipated report on Monday, stating that current efforts to tackle climate change are simply not enough.
“It’s now or never, if we want to limit global warming to 1.5°C,” IPCC Working Group III co-chair Jim Skea said. “Without immediate and deep emissions reductions across all sectors, it will be impossible.”

And yet, efforts to mitigate that risk haven’t been adequate on several fronts — especially when it comes to China and India, two of the top three contributors to global emissions in addition to the U.S.

Asia plays a crucial role in global efforts to decarbonize because it accounts for almost half of global greenhouse gas emissions. However, the region presents an uneven picture, with culpability and vulnerability varying significantly with each country.

China and India

In 2019, China’s greenhouse gas emissions exceeded that of the whole developed world for the first time, according to a 2021 report by research and consulting firm Rhodium Group.
Dimitri de Boer, chief representative of ClientEarth China, an environmental charity, acknowledged that China has stepped up efforts to fight climate change — by pledging to stop building coal power plants overseas, and supporting other countries in developing renewable energy systems.
However, he noted that the Chinese economy continues to be heavily reliant on coal, which may impede its progress.
Similarly, Gabriel Lau, professor emeritus at the Chinese University of Hong Kong, also recognized the progress China has made. But he said more attention must be given to renewable energy resources, more widespread conservation measures, and educating the public.
India, for its part, is expected to see the largest increase in energy demand globally over the next 20 years. And none of the country’s cities met the World Health Organization air quality guidelines, according to a report by IQAir, a Swiss air quality technology firm.

Setting a deadline 50 years away is by no means a cop-out — we don’t have that option anymore.

Avinash Kumar
Greenpeace India

While India’s net-zero emission target by 2070 is in the right direction, the country still needs “rigour, good practice and equity” to achieve its targets, Avinash Kumar, climate campaign manager at Greenpeace India, a non-profit organization told CNBC in an email.
On top of government incentives, the country’s energy transition must also be driven by big industries, he added.
“Setting a deadline 50 years away is by no means a cop-out — we don’t have that option anymore,” he said. “It cannot be business as usual with new fossil fuel projects, open-cast mines and dilution of environmental laws.”

Asia’s developing countries

Many of Asia’s most vulnerable countries, however, lie elsewhere.
“There isn’t necessarily one Asia — we have many different parts of Asia … that are all quite different in their economic structures, their degree of integration, and with that, their exposure to climate change,” said Jonathan Woetzel, director of McKinsey Global Institute.
Southeast Asia, for example, has sea levels rising faster than any other part of the world and bears the brunt of many climate hazards. That’s in part because the region is home to a significant number of low-lying countries with lower levels of per capita GDP, such as Cambodia and Myanmar.

People are losing their lives to floods, heatwaves, droughts, cloudbursts and more. They cannot wait for another 50 years to see real climate action on the ground.

Avinash Kumar
climate campaign manager, Greenpeace India

Kumar of Greenpeace India pointed out that developed countries will need to assume greater financial accountability. 
“The $100 billion commitment promised by rich countries to developing countries back in 2009 is yet to be delivered,” Kumar said. “At the current state, developing countries are far too short of the funds needed for climate mitigation.”

What the future holds

Despite Asia’s efforts thus far, climate model simulations indicate it will still be difficult to limit global warming to below 1.5°C even if targets are met, said Lau.
Still, integrating climate policies into national development plans is of “immediate importance” to mitigate harmful effects of rising temperatures, said the U.N. Economic and Social Commission for Asia and the Pacific.

Kumar warned that the next 10 years will be crucial, and stricter plans to halve emissions by 2030 need to be made in COP27, the next UN climate summit.
“People are losing their lives to floods, heatwaves, droughts, cloudbursts and more,” he added. “They cannot wait for another 50 years to see real climate action on the ground.”

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Monday – Friday, 6:00 – 7:00 PM ET

It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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ACM Research Inc: “It’s got a very cool technology. … I’m not going to bless it, but I’m not going to tell you to sell it.”

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UiPath Inc: “This is a great company and a bad stock, what can I say? We’re not recommending stocks that have gigantic losses anymore. We just can’t.”

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Hertz Global Holdings Inc: “This company is run by this guy, [CEO] Steve Scherr. He was just a genius at Goldman Sachs. I can’t wait to have him on our show.”

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U.S. stock futures were little changed on Thursday night after the major averages staged a late-day comeback as investors appraised the likelihood of tighter monetary policy from the Federal Reserve to combat inflation.
Dow Jones Industrial Average futures edged up 2 points, or 0.01%. S&P 500 and Nasdaq 100 futures climbed 0.01% and 0.05%, respectively.

The Dow Jones Industrial Average bounced back on Thursday after two straight days of losses. The Dow rose 87.06 points, or 0.25%, to 34,583.57 after dropping as much as 300 points earlier in the session. The S&P 500 gained 0.43% to 4,500.21, and the Nasdaq Composite ticked up 0.06% to 13,897.30.
The choppy session occurred amid continued uncertainty as investors weighed a more aggressive stance against inflation by the Federal Reserve. On Wednesday, the central bank disclosed its March meeting minutes, revealing that policymakers plan to reduce their bond holdings by a consensus amount of about $95 billion a month. The minutes also indicated potential interest rate hikes of 50 basis points in future meetings. A basis point equals 0.01%.
“We’re in a trading range market and it’s going to be this way for some time,” Stephanie Link, chief investment strategist and portfolio manager at Hightower, told CNBC’s “Closing Bell.” “And it’s really because we just have so many unknowns to deal with.”
On the economic front, the wholesale inventories report will be released 10 a.m. Friday.
Investors are also looking ahead to earnings season, which will kick off next week with reports from five big banks. JPMorgan will report before the bell on Wednesday. Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo will report before markets open on Thursday.

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Monday – Friday, 6:00 – 7:00 PM ET

CNBC’s Jim Cramer on Thursday said investors should consider buying shares of Acushnet and tee-up for Callaway long-term.
“Pure-play golf stocks have been obliterated here, and if you want to be opportunistic, especially in light of the [Masters Tournament], I like Acushnet more than Callaway, at least through the remainder of 2022,” the “Mad Money” host said.

Many people turned to golf during the pandemic as a way to stay active but socially distanced, leading golf brands to see surges in sales in 2020. 
Since then, “Callaway’s come down more than 40% from its highs last summer. Acushnet is off 30% from its peak last November,” Cramer said, though he maintained that he does not view the stocks as pandemic plays.
Callaway stock decreased 0.98% on Thursday to $22.19, below its 52-week high of $37.75. Shares of Acushnet, which houses FootJoy and Titleist, dropped 0.39% on Thursday to $40.74, below its 52-week high of $57.87.
Cramer added that because Acushnet managed to deliver “tremendous sales and earnings growth last year,” despite dealing with supply chain problems, he believes the stock is currently undervalued. “Acushnet is selling for only 15 times this year’s earnings estimates. I like that. It makes it as cheap as it’s been at any point in the last two years. In short, I think this is a great moment to take a swing at Acushnet,” Cramer said.
As for Callaway, Cramer said while the stock is down, he’s hesitant to advise investors to buy the stock in the current market because of its merger with sports entertainment company Topgolf in 2021.

“Callaway has become less of a tangible business and more of a conceptual one. … The conceptual stocks all went out of style last November,” Cramer said. “And it’s hard to say that this one’s cheap even after such a vicious decline,” he added.
“Longer-term, I think Callaway’s got a pretty good growth story. That said, it’s probably not the right fit for this market,” he said.
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Monday – Friday, 6:00 – 7:00 PM ET

Berkshire Hathaway’s roughly $4.2 billion investment in HP supports Best Buy’s viewpoint that consumer demand for upgrades to their technology will sustain, chief executive Corie Barry told CNBC’s Jim Cramer on Thursday.
“I can’t tell you what [Berkshire CEO] Warren Buffet’s thinking, but I think his investment exemplifies our general point, which is, people are going to use technology more than ever, and they’re going to want to upgrade technology more than ever,” Barry said in an interview on “Mad Money.”

Berkshire Hathaway’s roughly $4.2 billion investment in HP Inc. supports Best Buy’s viewpoint that consumer demand for upgrades to their technology will sustain, chief executive Corie Barry told CNBC’s Jim Cramer on Thursday.
“I can’t tell you what [Berkshire CEO] Warren Buffet’s thinking, but I think his investment exemplifies our general point, which is, people are going to use technology more than ever, and they’re going to want to upgrade technology more than ever,” Barry said in an interview on “Mad Money.”

“We are already seeing upgrade cycles shorten for our customers in areas like computing and home theater. So people are interested in this new tech,” she added.
Berkshire purchased almost 121 million shares of HP, or around an 11% holding, according to securities filings. 
HP shares surged 14.75% on Thursday following the news.
Barry also said that the permanence of hybrid work means consumers want comprehensive technology systems that can easily transfer between their work and home offices.
“You need those things to work together. I need to be able to bring my work computer home and have it work on my home network and my home printer. And then I’m going to need to take my home iPad to work, so I can see the content while I’m in a meeting. All of those things constantly work together, and you’re going to continue to want to upgrade those.”

“So, this idea of constant innovation in our industry is actually probably one of the least understood factors,” she added.
Best Buy stock was up 1.11% on Thursday.
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Disclaimer

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WHO condemned Russia’s more than 100 attacks on health-care facilities and transport vehicles, including ambulances, in Ukraine over the last six weeks.
The attacks violate international humanitarian law, WHO Director-General Tedros Adhanom Ghebreyesus said.
Some 73 people have been killed and 51 injured, including health workers and patients, in the attacks, he said.

A mother holds her newborn baby in the bomb shelter of a maternity hospital on March 02, 2022 in Kyiv, Ukraine.
Valentyn Ogirenko | Reuters

The World Health Organization on Thursday condemned Russia’s more than 100 attacks on health-care facilities and transport vehicles, including ambulances, in Ukraine over the last six weeks — in violation of international humanitarian law. 
Some 73 people have been killed and 51 injured, including health workers and patients, in the attacks, according to WHO Director-General Tedros Adhanom Ghebreyesus.

“We are outraged that attacks on health care are continuing,” Tedros said at a joint news conference in Washington. D.C., with U.S. Health Secretary Xavier Becerra to mark World Health Day. Tedros called the more than 100 attacks a “grim milestone.”
“Peace is the only way forward,” Tedros said. “I again call on the Russian Federation to stop the war.” 
Tedros’s remarks come on the 42nd day of Russia’s invasion, which has caused hundreds of civilian deaths and injuries in Ukraine, including dozens of children. 
He outlined efforts by the WHO and the U.S. to keep Ukraine’s “health system running.” The measures include working with neighboring countries to support access to care for refugees and delivering 180 metric tons of medical supplies to the hardest-hit areas of the country, with plans to increase that support. 
The total number of attacks is more than double what the WHO verified three weeks ago. 

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