| * China accuses GSK of bribing officials * Russia convicts dead lawyer Magnitsky * Asia rates: Malaysia sticks; Indonesia hikes; Korea holds * Emerging Stocks Advance Most in 10 Months as China Shares Rally * Brazil Signals World's Biggest Key Rate Increase Far From Over * Fall in Libyan and Nigerian output tightens oil market * Lenovo optimistic about China's economy * 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: mainly up China accuses GSK of bribing officials
GlaxoSmithKline on Thursday was accused by the Chinese government of being at the centre of a "huge" scheme to raise drug prices in China by bribing government officials and doctors in three of the country's biggest cities.
http://on.ft.com/13CKaRa Russia convicts dead lawyer Magnitsky
A Russian court on Thursday found Sergei Magnitsky, the deceased lawyer, guilty of tax evasion, in a posthumous trial that has garnered widespread criticism in the west.
http://on.ft.com/1asQtZS Asia rates:
* Malaysia sticks for now http://on.ft.com/188Lw4q
* Indonesia hikes again as investors head for the exit http://on.ft.com/1bqFXAo
* Korea's central bank: dose of optimism http://on.ft.com/1bqqH6F Emerging Stocks Advance Most in 10 Months as China Shares Rally
Emerging-market stocks rallied the most in 10 months, currencies gained and government borrowing costs fell after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy will continue to need monetary stimulus.
http://bloom.bg/175Emg9 Brazil Signals World's Biggest Key Rate Increase Far From Over
Brazil's central bank raised the benchmark interest rate a third consecutive time and said it was giving continuity to the world's biggest tightening cycle, signaling increases may be extended through year-end as policy makers battle inflation.
http://bloom.bg/175xcbA Fall in Libyan and Nigerian output tightens oil market
Supplies of crude oil from Opec, the producers' cartel, slumped in June, as Libya and Nigeria struggled to maintain output, according to the International Energy Agency.
http://on.ft.com/1b2aKoL Lenovo optimistic about China's economy
Lenovo has expressed cautious optimism that the new Chinese leadership's economic policies will help China remain a global economic motor despite short-term pressures on growth.
http://on.ft.com/11EXe7l 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 +2.53% at 938.77 Europe
FTSE up +0.64% at 6,547
RTS up +2.49% at 1,307
Warsaw Wig up +1.10% at 45,562
FTSE 300 Eurotop up +0.58% at 1,197 Americas
DJIA down -0.06% at 15,292
S&P 500 up +0.02% at 1,653
Bovespa up +0.90% at 45,483 Asia
Nikkei 225 up +0.39% at 14,473
Topix down -0.04% at 1,195
Hang Seng up +2.55% at 21,437
Shanghai Composite up +3.23% at 2,073
MSCI Asia ex-Japan up +3.12% at 429.46
CNX Nifty up +2.04% at 5,935 Currencies
€/$ 1.31 (1.30)
$/¥ 99.28 (99.64) Commodities
Brent Crude (ICE) down -0.36 at 108.15
Light Crude (Nymex) down -0.77 at 105.75
100 Oz Gold (Comex) up +34.60 at 1,282 | 
