London headlines

* Ambani brothers strike telecoms deal

* China’s ICBC to buy Taiwan bank stake

* Brazil industry stumbles in February

* Invest in Africa reviews Sunderland deal

* North Korea to restart nuclear facilities

* Indian IPOs: lacking momentum

* ‘Transformers 4’ to be produced in China

Markets: mostly down

Ambani brothers strike telecoms deal
The telecoms arms of Indian billionaire brothers Mukesh and Anil Ambani have struck an alliance that provides the clearest evidence yet of a rapprochement in one of Asia’s most high-profile corporate family feuds.
http://on.ft.com/14BZbBh

China’s ICBC to buy Taiwan bank stake
China’s ICBC bank has announced plans to buy a 20 per cent stake in one of Taiwan’s biggest banks, the first significant proposed investment by a mainland buyer into a Taiwanese financial group.
http://on.ft.com/XJ2KTk

Brazil industry stumbles in February
If the Brazilian government had a magic wand, it would be the tax known as the IPI, or the industrial production tax. Every time Brazilian industrial production slips, the government extends an IPI tax break that was first introduced last year on car sales to try to stimulate production.
http://on.ft.com/10nz5xM

Invest in Africa reviews Sunderland deal
Invest in Africa, the not-for-profit initiative which promotes the continent as an investment destination, said on Tuesday it was reviewing its partnership with Sunderland Association Football Club.
http://on.ft.com/XHnMSm

North Korea to restart nuclear facilities
North Korea said on Tuesday that it would restart a shuttered plutonium reactor and increase production of enriched uranium, a move that further increases tension on the Korean peninsula and raises the pressure on the US and South Korea to resume talks with Pyongyang.
http://on.ft.com/10u7hGG

Indian IPOs: lacking momentum
What’s going on with Indian IPOs? Poor demand, increased competition for retail investment or bad news from companies that went before? Whatever the reason, fundraising via initial public offerings in the 2012-13 year has been rather flat in India. Companies raised just over Rs60bn ($1.1bn) via IPO in the fiscal year just ended – that’s an increase of only 4 per cent year-on-year, according to stock exchange data seen by the Press Trust of India.
http://on.ft.com/17ar9UD

‘Transformers 4’ to be produced in China
Viacom’s Paramount Pictures said on Tuesday it had reached a deal with the government-run China Movie Channel and its online movie service partner, Jiaflix Enterprises, to produce Transformers 4 in China.
http://on.ft.com/10xeepk

Emerging Markets
MSCI Emerging Market Index down -0.27% at 1,026

Americas
DJIA up +0.61% at 14,662
S&P 500 up +0.52% at 1,570
Bovespa down -1.81% at 54,889

Asia
Nikkei 225 up +1.95% at 12,238
Topix up +1.47% at 1,006
Hang Seng down -0.26% at 22,310
Shanghai Composite up +0.14% at 2,231
MSCI Asia ex-Japan down -0.27% at 541.29
S&P CNX Nifty Index down -0.27% at 5,733

Currencies
€/$ 1.28 (1.28)
$/¥ 93.48 (93.42)

Commodities
Brent Crude (ICE) down -0.39 at 110.30
Light Crude (Nymex) down -0.50 at 96.69
100 Oz Gold (Comex) down -8.30 at 1,567