| * China wins observer status in Arctic Council * Taiwan recalls envoy in Philippines over fisherman's shooting * Lonrho agrees to £175m buyout deal * Nigeria declares emergency in states hit by Islamists * EasyJet boosted by sun-seeking Britons * Walmart opts out of Bangladesh factory deal * Rio misses out on FTSE rally amid Australia mine expansion concern * Chinese austerity hits Diageo's sales * Internet sales flourish in Nigeria * China on track to overtake US in non-financial corporate debt * Russia arrests US diplomat it claims was recruiting for CIA * Langfang: China's cloud computing hub * Rusal increases profits amid falling aluminium prices * South Africa mines prepare to enter an unlit pit of wage talks Markets: mixed China wins observer status in Arctic Council
China and four other Asian countries gained observer status to the Arctic Council, allowing them to participate in the main body determining the future of policy in the northern polar region.
http://on.ft.com/10y3MgJ Taiwan recalls envoy in Philippines over fisherman's shooting
Taiwan has recalled its representative in the Philippines and stepped up its naval patrols in the South China Sea after Manila failed to apologise for its role in the fatal shooting of a Taiwanese fisherman last week.
http://on.ft.com/10X7ikQ Lonrho agrees to £175m buyout deal
Lonrho, the former London and Rhodesia Mining and Land Company, has agreed to be taken over in a £174.5m deal by a company controlled by Swiss investors Rainer-Marc Frey and Thomas Schmidheiny.
http://on.ft.com/141PHwA Nigeria declares emergency in states hit by Islamists
ABUJA, May 14 – Goodluck Jonathan, Nigerian president, declared a state of emergency in three north-eastern states on Tuesday, ordering in more troops with the aim of stemming an increasingly violent Islamist insurgency.
http://on.ft.com/13wVPOe EasyJet boosted by sun-seeking Britons
EasyJet has offered a rosy outlook for its full-year numbers, as sun-seeking Britons fleeing the UK's extended winter helped the budget airline almost halve its interim pre-tax loss.
http://on.ft.com/15LZoDN Walmart opts out of Bangladesh factory deal
Walmart will not join a growing group of European retailers in a deal to improve factory safety in Bangladesh because it does not want to agree to the dispute resolution mechanisms it contains.
http://on.ft.com/ZZWHqc Rio misses out on FTSE rally amid Australia mine expansion concern
Rio Tinto was among the fallers on Tuesday as miners were left behind in the FTSE 100's rally to another five-and-a-half year high.
http://www.ft.com/cms/s/0/4370bffe-bcba-11e2-b344-00144feab7de.html Chinese austerity hits Diageo's sales
Sales of Diageo's baijiu, a clear grain spirit popular in China, slumped 40 per cent in the first quarter of this year as the world's biggest distiller became the latest casualty of China's crackdown on conspicuous consumption.
http://on.ft.com/10WV1Na Internet sales flourish in Nigeria
Mary Enweasor, who runs a tiny shop selling drinks and snacks in Nigeria's biggest city, had saved up for some new shoes but was unsure where to buy them. The quality of footwear in Lagos's sprawling markets was questionable. The door-to-door sales lady's range was limited. The flashy new mall was too expensive.
http://on.ft.com/12xcXRI China on track to overtake US in non-financial corporate debt
China is forecast to surpass the US as the world's largest corporate debt market for non-financial companies in the next two years, according to a report from Standard & Poor's.
http://on.ft.com/11CoZ0t Russia arrests US diplomat it claims was recruiting for CIA
Blond wig drooping as he was marched to a waiting secret police car, a US embassy diplomat in Moscow was detained early on Tuesday morning in what is perhaps the strangest spy scandal since MI6 planted a "spy rock" in a Moscow park in 2006.
http://on.ft.com/13vnXBn Langfang: China's cloud computing hub
Langfang, a small inland city in Hebei province, is emerging as an information technology services hub in northern China, with a large number of big data centres.
http://on.ft.com/18ImXMn Rusal increases profits amid falling aluminium prices
Oleg Deripaska's Rusal on Tuesday reported a better than expected net profit of $52m, yet concerns remain about the company's recovery following a sharp decline in aluminium prices.
http://on.ft.com/YULlZn South Africa mines prepare to enter an unlit pit of wage talks
Less than a year after South Africa's mining sector was hit by a wave of violent wildcat strikes, mining companies are preparing to head into uncharted territory as the industry readies itself for two-yearly wage negotiations in a volatile and unpredictable environment.
http://on.ft.com/10Lj7QU Emerging Markets
MSCI Emerging Market Index down -0.05% at 1,046 Europe
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S&P 500 up +1.01% at 1,650
Bovespa up +0.40% at 54,667 Asia
Nikkei 225 up +2.29% at 15,096
Topix up +1.79% at 1,253
Hang Seng up +0.50% at 23,044
Shanghai Composite up +0.35% at 2,225
MSCI Asia ex-Japan up +0.30% at 481.43
CNX Nifty up +2.52% at 6,147 Currencies
€/$ 1.29 (1.29)
$/¥ 102.51 (102.38) Commodities
Brent Crude (ICE) down -0.09 at 102.51
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