| * América Móvil in €7.2bn KPN bid * Tesco in talks over China joint venture * China slowdown shows signs of abating * Obama's Putin snub puts new focus on Moscow's China ties * Muted China inflation to spark rate cut calls * Chinese bank takes early step towards IPO * India Adds to Cash-Supply Curbs as Rupee Volatility Climbs * Brazil calls for IMF eurozone rescue programmes revision * Civil unrest squeezes Libyan oil exports * Chi-X Global and SBI Japannext set sights on South Korea * Iraq's faltering oil resurgence raises price fears * Horn of Africa oil: deals start flowing despite legal mess Markets: up América Móvil in €7.2bn KPN bid
Carlos Slim's América Móvil has made a bid to acquire KPN, the 160-year-old former Dutch telecoms monopoly, in a cash offer for the 70 per cent not already owned by the Mexican group.
http://on.ft.com/11QEek9 Tesco in talks over China joint venture
Tesco is in exclusive talks with China Resources Enterprise about forming a joint venture in the country that will see the UK supermarket group significantly cut its exposure to world's second-largest economy.
http://on.ft.com/19gbqqS China slowdown shows signs of abating
China's economy appears to have stabilised amid fears that one of the world's most important growth engines is close to stalling.
http://on.ft.com/19gb2bL Obama's Putin snub puts new focus on Moscow's China ties
When leaders of the G20 assemble in St Petersburg next month, all eyes will be on the body language between the host Vladimir Putin and Barack Obama, who this week snubbed the Russian leader by cancelling a separate summit in Moscow.
http://on.ft.com/1bfTBVW Muted China inflation to spark rate cut calls
Consumer price inflation in China rose 2.7 per cent in July from a year earlier, the same pace as in June and still well below the 3.5 per cent upper annual limit targeted by Beijing at the start of the year.
http://on.ft.com/1bgIcoR Chinese bank takes early step towards IPO
One of China's top investment banks has taken a step towards going public with China International Capital Corporation preparing the early ground work for an initial public offering to raise capital.
http://on.ft.com/13n9uEQ India Adds to Cash-Supply Curbs as Rupee Volatility Climbs
India plans to sell 220 billion rupees ($3.6 billion) of cash management bills each week, stepping up efforts to stem the rupee's unprecedented plunge by curbing supply of the currency.
http://bloom.bg/1euQk54 Brazil calls for IMF eurozone rescue programmes revision
Brazil has called for the IMF-backed rescue programmes for Greece and other southern eurozone countries to be reviewed to make them more economically sustainable.
http://on.ft.com/14AFATQ Sinking rupee highlights India's growing vulnerability
There is no concept in economics akin to a baptism of fire but that is surely what awaits incoming Indian central bank governor Raghuram Rajan as he ponders what, if anything, can be done to protect his country's ever-sinking currency.
http://on.ft.com/15QY7Io Civil unrest squeezes Libyan oil exports
Libyan oil exports fell by 20 per cent in July to their lowest level since the country's civil war in 2011, according to shipping data from Lloyd's List Intelligence, which shows the extent to which civil unrest is crimping supply from Africa's third-largest oil industry by capacity.
http://on.ft.com/1bgIBYA Chi-X Global and SBI Japannext set sights on South Korea
South Korea is set to become the third Asian equities market to open to competition between exchanges and upstart trading venues after Chi-X Global and SBI Japannext, both backed by large banks, said they were exploring entering the country.
http://on.ft.com/1bgIHPZ Horn of Africa oil: deals start flowing despite legal mess
This week, a new company – Soma Oil and Gas – signed an exploration deal with the Mogadishu-based federal government of Somalia. The agreement came as a surprise. The government had previously abstained from signing such deals, fearing they would inflame ongoing territorial tensions (which the UN also warned about).
http://on.ft.com/1cMACEb Emerging Markets
MSCI Emerging Market Index up +0.23% at 948.59 Europe
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Bovespa up +3.12% at 48,929 Asia
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CNX Nifty up +0.84% at 5,566 Currencies
€/$ 1.34 (1.34)
$/¥ 96.40 (96.72) Commodities
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