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Today's Summary

A wealth tax would drive capital out of California, hurt innovation and weaken support for healthcare services, says Y Combinator CEO. Deans Home Services, a leading provider of plumbing, drain and sewer, and water heater services in the Twin Cities, was acquired by Redwood Services. Japan should encourage greenfield platform FDI, in which foreign companies build factories or offices in Japan in order to create goods and services that are then exported from Japan to a third country. Falling relative prices in China and a weaker currency has made Chinese goods extraordinarily cheap in global terms. At least 142 activist groups across 24 states organised to block data centre construction.