Jul 3, 2018 - Energy & Environment

Tesla dropped one standard brake test on Model 3s

Tesla CEO Elon Musk. Photo: Joshua Lott/Getty Images

Tesla CEO Elon Musk "appears to have asked" Tesla engineers to let the company's Model 3 autos leave the California factory without receiving a previously required type of brake testing, according to Business Insider.

Why it matters: Musk and Tesla were racing to meet a Q2 production goal of 5,000 Model 3 electric sedans a week by the end of June. The company has been taking aggressive measures to meet the target.

What happened: The test, called the “brake-and-roll,” ensures a car is correctly aligned in its final stages, and is standard in the industry, per the article.

Tesla told BI its cars go through "rigorous quality checks," including brake tests.

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Axios

Updated 20 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

Global: Total confirmed cases as of 9 p.m. ET: 13,273,537 — Total deaths: 577,006 — Total recoveries — 7,367,106 — Map.
U.S.: Total confirmed cases as of 9 p.m. ET: 3,424,304 — Total deaths: 136,432 — Total recoveries: 1,049,098 — Total tested: 41,764,557 — Map.
Politics: Biden welcomes Trump wearing mask in public but warns "it’s not enough"
Public health: Four former CDC heads say Trump's undermining of agency puts lives at risk — CDC director: U.S. could get coronavirus "under control" in 4–8 weeks if all wear masks.

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Courtenay Brown

3 hours ago - Economy & Business

Bank CEOs brace for worsening economic scenario

JPMorgan CEO Jamie Dimon. Photo: J. Lawler Duggan/For The Washington Post via Getty Images

Wells Fargo swung to its first loss since the financial crisis — while JPMorgan Chase and Citigroup reported significantly lower profits from a year earlier — as the banks set aside billions of dollars more in the second quarter for loans that may go bad.

Why it matters: The cumulative $28 billion in loan loss provisions that banks have so far announced they’re reserving serves as a signal they’re preparing for a colossal wave of loan defaults as the economy slogs through a coronavirus-driven downturn.

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Bob Herman

4 hours ago - Health

Moderna's vaccine spurred immune system response to coronavirus

Moderna's stock rose 16% after hours on this news. Photo: Jakub Porzycki/NurPhoto via Getty Images

Healthy volunteers who took Moderna's coronavirus vaccine candidate appeared to generate an immune system response to the virus, and there were "no trial-limiting safety concerns," according to a new study published in the New England Journal of Medicine.

Why it matters: The phase one trial is still small and does not definitively determine how effective the vaccine is. But Anthony Fauci of the National Institutes of Health, which is running the trial, told the Wall Street Journal that these data make it "pretty clear that this vaccine is capable of inducing quite good [levels] of neutralizing antibodies."