| * Novartis's Alcon embroiled in Chinese corruption allegations * Record Saudi oil output fills supply gap * Corporate debt risk in fresh EM sell off * S Korea struggles to take in foreign workers * China intensifies internet crackdown * Oaktree raises $700m for emerging market distressed debt fund * Nigeria SWF makes maiden investment * Iran's inflation woes worsens * Default risk hurts Argentina's Fernández * Danone baby brand shocked at Chinese bribery claims * Rousseff to decide if US visit will go ahead * Markets: down Novartis's Alcon embroiled in Chinese corruption allegations
Alcon, the eyecare division of Novartis, said it would investigate claims that it used fake clinical trials to bribe doctors in China, the latest in what has become a steady stream of corruption allegations against mostly foreign pharmaceutical companies in China.
http://on.ft.com/1aPNZp0 Record Saudi oil output fills supply gap
The US might be drowning in oil, but the world is still dependent on Saudi Arabia. Indeed, Saudi Arabia is pumping out more crude than at any time since at least the 1970s. In neighbouring Kuwait and the United Arab Emirates meanwhile, oil production levels hit record highs.
http://on.ft.com/16xOWOB Corporate debt risk in fresh EM sell off
Emerging markets have regained some poise after a foul summer. However, some money managers are concerned that the fragile calm will not last and warn that in any renewed turmoil, EM corporate bonds could prove the most vulnerable.
http://on.ft.com/18nINku Study points to vast shale oilfields
Shale oilfields in countries such as Argentina, Russia and Algeria hold larger reserves than the regions at the heart of the US energy boom, and have the potential to make a significant contribution to global crude supplies in the next decade, according to new research.
http://on.ft.com/1dkACKU S Korea struggles to take in foreign workers
As Sri Lankan music blares from an electronics shop across the road, Sherzod is struggling to count the nationalities of the customers at his café in Ansan, a town of 1m people in South Korea's Gyeonggi province.
http://on.ft.com/1gsprQi China intensifies internet crackdown
The Chinese government has intensified its crackdown on the internet, describing online criticism of the ruling Communist party as illegal and airing a televised confession from one of the country's most popular online commentators.
http://on.ft.com/17Dbr4b Oaktree raises $700m for emerging market distressed debt fund
Oaktree Capital Management, the alternative debt manager, has raised more than $700m for its first emerging market distressed debt fund, as headwinds from the combination of expected tapering in the US and slower growth in China take their toll in markets from Brazil and India to South Africa and Turkey.
http://on.ft.com/1diCuEc Nigeria SWF makes maiden investment
Nigeria's sovereign wealth fund has made its first ever investment, handing over $200m to UBS, Credit Suisse and Goldman Sachs to manage a fixed income portfolio.
http://on.ft.com/1dj6ZKd Iran's double-digit inflation woes worsen
Iranian shoppers are getting used to constantly rising prices, especially – and most worryingly – prices of basic commodities. Inflation over the past year has added to feelings of insecurity. Butter, for example, is increasingly scarce in Tehran and, where available, its price has doubled in the past few weeks, from 11,000 rials ($0.44) for 100 grammes to 22,000 rials.
http://blogs.ft.com/beyond-brics/2013/09/16/1487172/ Default risk hurts Argentina's Fernández
Argentina's artificially overvalued currency is one of an array of economic problems facing Cristina Fernández de Kirchner, president. Others include stubbornly high inflation, state subsidies that are sapping resources, and an abysmal business climate that has seen investment all but dry up.
http://on.ft.com/1dil1vo Danone baby brand shocked at Chinese bribery claims: Dumex, the baby food brand owned by France's Danone, said on Monday it was investigating allegations on Chinese state television that the company bribed doctors and nurses to recommend its infant formula to the parents of newborns at some hospitals.
http://on.ft.com/150EHPd Rousseff to decide if US visit will go ahead: Dilma Rousseff is expected to announce on Tuesday whether she will go ahead with a state visit to Washington next month after anger in Brazil over US spying. Revelations that the US National Security Agency monitored everything from Ms Rousseff's personal communications with her staff to the affairs of state-owned oil company Petrobras have rocked Brazil.
http://on.ft.com/187UgGV Emerging Markets
MSCI Emerging Market Index down -0.24% at 999 Europe
FTSE up -0.42% at 6,595
RTS down -0.62% at 1,427
Warsaw Wig up +0.51% at 49,168
FTSE 300 Eurotop down -0.45% at 1,253 Americas
DJIA up +0.77% at 15,495
S&P 500 up +0.57% at 1,698
Bovespa up +0.04% at 53,822 Asia
Nikkei 225 down -0.65% at 14,312
Topix down -0.31% at 1,182
Hang Seng down -0.31% at 23,181
Shanghai Composite down -2.05% at 2,186
MSCI Asia ex-Japan down -0.16% at 464.41
CNX Nifty up +0.17% at 5,850 Currencies
€/$ 1.34 (1.33)
$/¥ 99.12 (99.05) Commodities
Brent Crude (ICE) down -0.53 at 109.54
Light Crude (Nymex) down -0.31 at 106.28
100 Oz Gold (Comex) unchanged 0.00 at 1,318 | 
