FURTHER FURTHER READING
- When a (national consumption) tax increase is bad policy.
- Tesla shorts throw in the towel.
- Confessions of an institutional investor.
- Uncertainty isn't killing the recovery.
- Mortgage investors don't want Richmond to take away their mortgages.
- Conservative arguments since the crisis: a review.
ROUND-UP
China trade shows signs of recovery: "China's exports and imports grew strongly in July, boosting confidence that the economy may be stabilising after a shaky first half of the year. Exports rose 5.1 per cent year on year, rebounding from a 3.1 per cent drop in June. Imports increased 10.9 per cent year on year, up from a 0.7 per cent fall in June." (Financial Times)
Kuroda backs sales tax rise as BoJ keeps monetary policy on hold: "The Bank of Japan left its monetary policy unchanged on Thursday, suggesting the aggressive easing measures it implemented in April were doing enough to stimulate the economy and reverse deflation. The central bank's governor, Haruhiko Kuroda, reiterated his support for a contentious plan to raise the national sales tax, saying the pro-growth policies implemented by the BoJ and the government of Shinzo Abe, prime minister, would offset the tax's potential ill effect on consumer demand." (Financial Times)
Chinese bank takes early step towards IPO: "One of China's top investment banks has taken a step towards going public with China International Capital Corporation preparing the early ground work for an initial public offering to raise capital. Levin Zhu, chief executive of the brokerage, has commissioned an internal study to look into the possibility of listing, said people familiar with the matter." (Financial Times)
Rio Tinto scraps Pacific Aluminium unit sale: "Rio Tinto has given up trying to sell its lossmaking Pacific Aluminium subsidiary in a sign of the tough market conditions facing mining groups trying to offload underperforming assets during an industry downturn." (Financial Times)
