The flash HSBC China PMI contained both good and bad news. The good news was that the index was only just below the 50 mark, but the data also indicated sluggish employment growth, which bodes ill for China's social cohesion. Kate has the details. How did the Bo family amass such wealth, and where did they stash it all? Joseph gives a shout-out to Bloomberg News reporters" dive into the wealth (some $136m accounted for) of the clan of the fallen Chongqing politician. Apparently black cows are involved. Why are commodities up 65% since the recession if the global economy is growing below capacity? And six other global markets questions answered. The foreign exodus from peripheral sovereign bonds has accelerated post LTRO 1. Joseph's post examines some scenarios under which it could continue until "de-euroisation" is complete and other longer-term consequences for a common eurozone capital market. Nestlé has agreed to buy Pfizer's nutrition unit for $11.85bn. It beat Danone in the bidding battle triggered by Pfizer's move to focus on its core pharmaceuticals business. The nutrition unit reported revenues of $2.1bn last year, up 15 per cent from 2010, the FT reports. Hollande narrowly beat Sarkozy in the first round of French presidential elections. There is still all to play for in the May 6 second round. But the shock of the night was a record 18 per cent performance by the National Front's Marine Le Pen, reports the FT. Walmart faces Mexico bribery claims. The world's biggest retailer by sales has been hit by allegations that it sought to cover up a bribery campaign orchestrated by executives in Mexico aimed at accelerating store openings, the FT reports. The claims were made by The New York Times and relate to events six or more years ago. ECB rejects US/IMF demands to do more to stop the euro crisis. European central bankers including Mario Draghi and Jens Weidmann said cutting interest rates and issuing more long-term bank loans will be enough, Bloomberg reports. US regulators are looking to ease stringent new derivatives rules. The changes being considered by the Commodity Futures Trading Commission would apply to large foreign banks and overseas subsidiaries of US lenders, potentially alleviating one of the biggest concerns facing global financial institutions, the FT reports. Oil trading is likely to face greater transparency requirements. The industry-backed Extractive Industries Transparency Initiative is looking into how to include deals between national oil companies and traders, reports the FT. It could have significant implications for Europe's publicity-shy commodities trading industry. Repsol threatens potential YPF investors. The Spanish oil group has warned that any attempts to invest in its forcibly nationalised YPF subsidiary will face legal action. The move has implications for Argentina's ability to attract the capital needed to develop its shale gas reserves, the FT reports. European stocks dip as reports show slowdown in manufacturing in China and the euro area. US futures were also down, Bloomberg reports. This entry was posted by Masa Serdarevic on Monday, April 23rd, 2012 at 10:42 and is filed under Uncategorised.