Monday newspaper round-up: IFS warning, crypto, housebuilders

(Sharecast News) - Rachel Reeves must avoid "a half-baked dash for revenue" or risk damaging economic growth as the chancellor seeks to close a large gap in next month's budget, the Institute for Fiscal Studies has said. The tax and spending thinktank has warned there was a danger the chancellor would create "unnecessary economic damage" if she chooses to stitch together unrelated tax-raising measures to cut the shortfall in government revenues and keep within her fiscal rules. - Guardian

Beijing has told the US it will retaliate if Donald Trump fails to back down on his threat to impose 100% tariffs on Chinese imports as investors brace for another bout of trade war turmoil. China's commerce ministry blamed Washington for raising trade tensions between the two countries after Trump announced on Friday that he would impose the additional tariffs on China's exports to the US, along with new controls on critical software, by 1 November. - Guardian

A cryptocurrency crash triggered by Donald Trump's threat of 100pc tariffs on China has unleashed fresh claims of insider trading. There is growing anger among crypto investors after reports claimed that an anonymous investor made up to $200m (£150m) by betting that the world's two biggest digital currencies would fall. - Telegraph

Sir Keir Starmer has been warned that Britain is at risk of falling into a Chinese debt trap because of its dependence on borrowing from Beijing. Senior economists and politicians have sounded the alarm over hundreds of billions of pounds in UK debt owned by overseas investors. They fear that this reliance will allow China to meddle in British affairs and strong-arm the Government as it is caught in an ever-tighter vice of unaffordable spending and interest payments. - Telegraph

Some of Britain's biggest developers have been left stunned after being approached about appointing the former Tory minister Michael Gove, who is roundly loathed by the industry he once called a cartel. Headhunters, acting on behalf of the former housing secretary, are understood to have made calls to several big housebuilders offering his services as a board member after his retirement from politics last year. - The Times

A government-backed developer of the world's largest aircraft is in a race to close a £130 million investment round as its latest accounts warned it had only enough resources to last "four to six weeks". Hybrid Air Vehicles, which has developed a hybrid of an aircraft and an airship, is aiming to secure the investment round this year which will allow it to move towards production in a project expected to create more than 1,000 jobs and multibillion-pound revenues - The Times