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London headlines

* GSK is test case in China's rules laboratory

* McDonald's to bring Big Mac to Vietnam

* Chinese workers find jobs still plentiful despite slowing growth

* Argentina tax deal for energy exporters

* Brazil casts net over transport groups in cartel probe

* Egypt to put IMF loan talks on back burner

* RBI takes steps to curb rupee decline

Markets: mixed

GSK is test case in China's rules laboratory
Hundreds of millions of dollars of allegedly improper payments under review by the Chinese police. Evidence of sexual favours allegedly being exchanged as part of an elaborate scheme to boost sales and profits in the world's fastest-growing drug market. It was not what GlaxoSmithKline, the UK pharmaceuticals group, which has been rebuilding its image following past scandals, wanted to hear.
http://on.ft.com/145t6SN

McDonald's to bring Big Mac to Vietnam
Vietnam is finally set to get its first taste of the Big Mac after US burger chain McDonald's said it would open its first outlet in the communist-run country early next year.
http://on.ft.com/13LGwo1

Chinese workers find jobs still plentiful despite slowing growth
Clad in board shorts and flip-flops, Xu Wen looks pretty much like any young man on summer break from university. Back from a hot day at the beach, he is chilling outside his local Walmart in outer Shanghai.
http://on.ft.com/16DZ9VQ

Argentina tax deal for energy exporters
In a bid to lure urgently needed investors to its energy sector, Argentina on Monday said it would allow companies to export 20 per cent of oil and gas tax-free provided they invest $1bn over five years.
http://on.ft.com/1bEdGGT

Brazil casts net over transport groups in cartel probe
Siemens, France's Alstom and other global engineering companies have been drawn into an investigation by Brazilian authorities into a possible cartel in operation across the country's train and metro networks.
http://on.ft.com/10XdJZP

Egypt to put IMF loan talks on back burner
A top official in Egypt's cash-strapped interim government said he doubted the country could reach a deal with the International Monetary Fund this year, signalling resistance to any attempt to rein in spending and close the country's budget deficit.
http://on.ft.com/15xKiNl

RBI takes steps to curb rupee decline
The Reserve Bank of India (RBI) announced measures late on Monday to curb the rupee's decline by tightening liquidity and making it costlier for banks to access funds from the central bank.
http://reut.rs/145k0FF

Emerging Markets
MSCI Emerging Market Index up +0.11% at 953.32

Americas
DJIA up +0.13% at 15,484
S&P 500 up +0.14% at 1,683
Bovespa up +2.65% at 46,739

Asia
Nikkei 225 up +0.58% at 14,591
Topix up +0.58% at 1,209
Hang Seng down -0.13% at 21,275
Shanghai Composite down -0.68% at 2,045
MSCI Asia ex-Japan down -0.13% at 517.05
CNX Nifty down -1.39% at 5,947

Currencies
€/$ 1.31 (1.31)
$/¥ 99.73 (99.85)

Commodities
Brent Crude (ICE) down -0.17 at 108.92
Light Crude (Nymex) down -0.27 at 106.05
100 Oz Gold (Comex) down -4.40 at 1,279

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