Day: May 26, 2020

Economy on track for rapid V-shaped recovery, says Bank of England chief economist

The economy is on track for a short V-shaped recession following early signs that spending has jumped by more than expected, the Bank of England’s chief economist has said.

There has already been a “modest recovery” in spending and business confidence according to real-time indicators, Andy Haldane said.

Mr Haldane argued that early signs such as surveys are “coming in a shade better” than the Bank’s scenario, which already predicted a V-shaped recovery in activity where little long-term damage is done to the economy. This view was dismissed as far too optimistic by many economists, who fear severe long-term damage

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LNG-powered rocket offers boost to Japan’s private space industry

TOKYO/SAPPORO, Japan — The rocket engine roared to life with a burst of bright orange flame, firing at 70% of full power for five seconds in a test that featured fuel used to power much of the planet but not harassed to reach outer space: liquefied natural gas.

Interstellar Technologies, a small Japanese rocket startup, conducted this static firing parallel to the ground in mid-March at its site on Japan’s northernmost main island of Hokkaido.

Interstellar plans to use the LNG engine for its Zero satellite launch vehicle, slated for takeoff in 2023. The company is developing the technology and

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Mazda brings playable concept car to PlayStation, esports series

Dive Brief:

  • Mazda Motor Corp. designed a virtual race car for the Sony PlayStation 4 video game “Gran Turismo Sport” to give players a glimpse of what it’s like to drive a vehicle by the car brand, the company announced.
  • The car maker Mazda worked with the game’s creator Polyphony Digital to develop the Mazda RX-Vision GT3 Concept vehicle for the driving simulation game.
  • Gamers that select the Mazda vehicle in “Gran Turismo Sport” will automatically get to participate in the FIA certified Gran Turismo Championship that takes place in several locations around the globe later this year. In the
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Coke bets on new music streamer BeApp as virtual concerts take center stage

Brief:

  • Coca-Cola signed on as the exclusive launch partner of BeApp, a new music streaming platform that integrates gamified and social media elements into the virtual concert-viewing experience, according to an announcement.
  • Over the next few weeks, the app founded by tech industry vets Ray Smith and Ross Mason will host Coke Studio Sessions, a series featuring high-profile artists like Katy Perry, Miguel, Steve Aoki and the cast of the musical “Hamilton.” The 60-day initiative started last weekend with performances from Diplo, Kaskade and DJ Khaled, and new artist performances will be announced via BeApp and Coke’s social channels.
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