Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.
- Mexico to Grow at a Slower Pace than Expected this Year (Lindsey Taylor, FX Empire) Mexico slashed its growth forecast for this year to 2.7%, down sharply from the previous projection of 3.9%, after its economy grew at a slower pace than expected in the first quarter due to a tax hike that weighed on consumer demand and weaker export growth. The 1Q 2014 GDP growth estimate came in at 1.8%, up from an even lower 0.7% in 4Q 2013. All rates are year-over-year.
- Alibaba’s American Aspirations (David Gelles, Hiroko Tabuchi and Michael J. de la Merced, The New York Times) Alibaba is going right at the heart of e-Bay, the sales commission. U.S. website set up by Alibaba to compete with e-Bay, 11 Main, has a vendor commission of 3.5% compared with the almost 10% charged by e-Bay (comparable to the traditional auction sellers’ commissions in the U.S.). Alibaba is also taking stakes in American businesses to compete with Uber (Lyft), Amazon.com and others. Read more about Alibaba’s huge August ADR IPO in Aura Gilham’s article at GEI Investing.
- Minnesota Bans Triclosan, Ingredient in Antibacterial Soaps (Michelle Schoffro Cook, Care2) Minnesota is the first American state to ban triclosan, an antibacterial ingredient used in consumer hygiene products. Researchers at the University of Minnesota have found the compound in lake sediments in the state and documented the breakdown into dioxins which can harm marine ecosystems. They have also found the compound linked to the presence of a staph superbug in human nasal areas. This superbug is associated with food poisoning which in severe cases causes death.
- This Hellish Desert Pit Has Been On Fire for More Than 40 Years Learn how an unfortunately doomed attempt to drill for oil in Turkmenistan in 1971 created a fiery hole in the ground 235 feet across by 65 feet deep which burns to this day.
Today there are 11 articles discussed ‘behind the wall’. There are 3 more articles about the way data was used by Thomas Piketty in his new book, Capital in the Twenty-First Century. Another three articles were discussed yesterday.
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