- 1. Japan's economy sputters despite stimulus efforts
- 2. SpaceX lands Falcon 9 rocket on floating drone
- 3. China stocks rise on anticipation of further stimulus
- 4. Tesla removes 'autopilot' from China website after crash
- 5. Bundesbank says Brexit won't stop Germany's economic growth
1. Japan's economy sputters despite stimulus efforts
Japan's economic growth stalled in the April-June quarter as exports and business investment faltered, according to government data released Monday. The world's third largest economy grew by just 0.2 percent in the quarter, falling far short of expectations. Economists had forecast growth similar to the rate in the first quarter, 0.8 percent. The latest data adds pressure on the Bank of Japan, which recently announced a modest increase to its asset purchases, to do more to stimulate the economy. Prime Minister Shinzo Abe has proposed spending $267 billion to encourage consumer and business spending.
2. SpaceX lands Falcon 9 rocket on floating drone
SpaceX landed a Falcon 9 rocket on the deck of a drone ship in the Atlantic Ocean on Monday, not far from the launch pad at Cape Canaveral. The landing of the rocket's first stage came after the booster successfully sent a satellite on its way into orbit for Tokyo-based Sky Perfect JSAT. The company, now with 17 satellites in space, is Asia's largest satellite operator. The mission marked the latest in a string of recent successes for entrepreneur Elon Musk's private space company, which is trying to perfect the steps necessary to reuse its launch vehicles so that it can save money and time between missions.
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3. China stocks rise on anticipation of further stimulus
Chinese stocks rose on Monday to seven-month highs on speculation that Beijing would offer to enact more stimulus measures after disappointing July economic data. The blue-chip CSI300 Index surged by 3.3 percent. European markets were up, too, but only by 0.4 to 0.6 percent. U.S. stock-index futures showed little change, inching higher early Monday after hitting record highs last week.
4. Tesla removes 'autopilot' from China website after crash
Tesla removed the word "autopilot" — as well as a Chinese term for "self-driving" — from its China website on Sunday in the wake of a recent crash in Beijing involving a driver who was using the "autopilot" mode of his Model S sedan. The driver, whose vehicle sideswiped a car parked on the side of a road, says sales staff oversold the capabilities of the mode. Tesla has said drivers remain responsible for the safety of the vehicle while using "autopilot," and said the vehicle's sensors indicated the driver's hands weren't on the wheel at the time of the accident.
5. Bundesbank says Brexit won't stop Germany's economic growth
Britain's vote to leave the European Union will do limited immediate damage to Germany's economy, the country's central bank said in a monthly report on Monday. The Bundesbank said it expected the country's economy, Europe's leader, to have expanded over the summer thanks to strong exports, manufacturing, and consumer spending. Germany's gross domestic product rose by 0.4 percent in the second quarter, according to data released last week. The report also said that European Central Bank policy makers agreed in their July meeting that the Brexit would not derail the region's recovery.
Reuters The Wall Street Journal
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