| * China faces tug-of-war over growth strategy * Senator raises US food security fears in Smithfield deal * US and European retailers split on Bangladesh factory safety plans * Frontier assets prove robust in turmoil * Anglo American chief warns on S Africa mining talks * Yum Brands suffers on China woes * Turkey launches inquiry into foreign exchange transactions * Chinese chipmakers in 'bloody' price war * Stratus deal shows Brazil's middle market still has drive Markets: up! China faces tug-of-war over growth strategy
Is this the end of the 'Beijing put'? Over the past five years whenever China's growth slipped below 8 per cent, global investors could count on the government to unleash stimulus and re-energise the world's second-largest economy, boosting demand for everything from Audis to iron ore.
http://on.ft.com/16qdZze Senator raises US food security fears in Smithfield deal
The largest-ever Chinese takeover of a US company came under scrutiny in Washington after a group of bipartisan lawmakers said Shuanghui's proposed $4.7bn purchase of Smithfield, the pork producer, raised unsettling questions about American food security and economic fairness.
http://on.ft.com/153iHnw US and European retailers split on Bangladesh factory safety plans
US retailers have deepened a rift with their European rivals over factory safety in Bangladesh by launching an alternative reform plan that avoids accountability mechanisms accepted in Europe.
http://on.ft.com/175yK5w Frontier assets prove robust in turmoil
For much of the past few years, the must-have investments for hip money managers have been striking: African brewers, Argentine municipal debt, Islamic high yield bonds, Mongolian miners. Nothing has been too exotic.
http://on.ft.com/11CJObV Anglo American chief warns on S Africa mining talks
Mark Cutifani, chief executive of Anglo American, warned on Wednesday that the wage negotiations beginning in South Africa's mining sector will determine not only the future of the industry, but also the future of the continent's largest economy.
http://on.ft.com/1abFQqY Yum Brands suffers on China woes
Yum Brands, operator of the KFC and Taco Bell chains, reported a 15 per cent drop in second-quarter earnings as food safety fears at its Chinese unit took their toll. However, the company said the unit was recovering and remained on track to open more than 700 new units this year.
http://on.ft.com/175z04r Turkey launches inquiry into foreign exchange transactions
Turkey has launched a wide-ranging probe of foreign exchange transactions, a move some commentators say could chill foreign investment, as Ankara seeks to relieve pressure on the lira and assert its authority after weeks of mass protests.
http://on.ft.com/18NMuFV Chinese chipmakers in 'bloody' price war
Chinese chipmakers are engaging in "bloody" competition that could accelerate production of cheap tablets, already one of the fastest-growing areas in the consumer electronics industry.
http://on.ft.com/1aooryP Stratus deal shows Brazil's middle market still has drive
Deal-making might look like it is going through a slow patch in Brazil given the country's weakening economy and currency volatility but that depends on your perspective.
http://on.ft.com/187DMj5 Emerging Markets
MSCI Emerging Market Index up +1.99% at 933.81 Americas
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S&P 500 up +0.02% at 1,653
Bovespa up +0.90% at 45,483 Asia
Nikkei 225 down -0.58% at 14,333
Topix down -0.95% at 1,184
Hang Seng up +2.15% at 21,354
Shanghai Composite up +2.24% at 2,053
MSCI Asia ex-Japan up +2.71% at 515.03
CNX Nifty up +1.74% at 5,918 Currencies
€/$ 1.31 (1.30)
$/¥ 98.67 (99.64) Commodities
Brent Crude (ICE) down -0.16 at 108.35
Light Crude (Nymex) up +0.05 at 106.57
100 Oz Gold (Comex) up +33.90 at 1,281 | 
