Coronavirus: United Kingdom, facing worst recession on record, sees GDP drop 20.4% in Q2

The UK has seen its economy, hit by the coronavirus crisis, suffer a "record" contraction of 20.4% in the second quarter, and is officially facing its worst recession on record, agency figures show National Statistics (ONS), published Wednesday 12 August. 
Economists consider that a country enters a technical recession when it accumulates two consecutive quarters of contraction in its economy. According to the ONS, most of the contraction, which began to be felt in March, occurred in April, an entire month of containment and almost total cessation of activity in the country, which saw production collapsed by 20%.

With a very early recovery in construction sites and manufacturing activity, gross domestic product (GDP) rebounded in May by 2.4% (revised figure), followed by an acceleration in June (+8.7 %) thanks in particular to the reopening of all shops. This is the biggest contraction in the UK economy since the ONS began these quarterly statistics in 1955, he said…

The new secret project Tesla is working on

According to the specialized site Electrek, the car manufacturer is in the process of working on a new project about which we still know almost nothing. Its name: "Palladium".

The new secret project Tesla is working on

What else will Elon Musk get out of his hat? The man of a thousand ideas has big ambitions for his car company Tesla. And it would also be working on a project still kept secret, whose code name is "Palladium", believes the specialized site Electrek. Little information has filtered out on the scope of this project because Tesla still wants the information to be very compartmentalized internally, explains the specialized American site. However, what seems certain is that the project is being carried out at factories in Fremont and Nevada. The existence of the project has however been confirmed at the site by several sources.

"Palladium" appears to be rolling out a refresh of Tesla's Model S and Model X gear, which were introduced to the public in 2009 and 2012. An update that may well include, according to Electrek, new batteries for the Plaid S and X Plaid in order to set up a configuration with three engines. The secret project could also be linked to another on which Tesla is working: Roadrunner, whose objective is to develop new battery cells that can hold up to more than a million and a half kilometers.

In addition to this aspect, the "Palladium" project would work on the development of a new bodywork for the Model S Plaid and X Plaid, the "Palladium Body", indicates Electrek. This name indicates above all a material belonging to the category of plates, but it is impossible for the moment to know if the name of the project would be in connection with any use of this metal on the vehicles of the company. To obtain more information, we will probably have to wait until September 15, the date of "Battery Day", the conference that Tesla is to hold in order to announce the company's latest innovations.