New York headlines

* China’s bird flu outbreak cost $6.5bn

* India takes steps to rein in algos

* Beijing promises to get tough on heath food industry

* China’s Li offers to help end Pakistan energy crisis

* EU Panel Penalties to Hurt Solar Firms From China to U.K

* Obama Says Myanmar’s Democratic Progress Fuels Economy

* Akbar Hashemi Rafsanjani banned from Iran’s presidential poll

* Indonesia approves DBS acquisition of 40% of Bank Danamon

* Strong demand in China helps boost Burberry sales to £2bn

* China reveals details of first carbon trading scheme

* Russia’s markets: the Kudrin card

Markets: mostly up

China’s bird flu outbreak cost $6.5bn The H7N9 virus appears to have been brought under control in China largely due to restrictions at bird markets but cost some $6.5bn in losses to the economy, UN experts said on Tuesday. http://on.ft.com/12LcgWi

India takes steps to rein in algos Algos – those complicated and increasing popular beasts – have proved a headache for financial regulators the world over.India’s financial market regulator is trying to bring them further under control. http://on.ft.com/14wiVEf

Beijing promises to get tough on heath food industry The China Food and Drug Administration has promised to get tough on health foods before, with little result. This time, it seems, it is serious. http://on.ft.com/14weHfS

China’s Li offers to help end Pakistan energy crisis China and Pakistan should make cooperation on power generation a priority, Chinese Premier Li Keqiang said, as Islamabad seeks to end an energy crisis that triggers power cuts of up to 20 hours a day, bringing the economy to a near standstill. http://reut.rs/18h41mW

EU Panel Penalties to Hurt Solar Firms From China to U.K The European Union is poised to penalize imports of Chinese solar products, a move that would increase Europe’s cost for most photovoltaic panels an estimated 45 percent overnight. http://bloom.bg/14OHsE5

Obama Says Myanmar’s Democratic Progress Fuels Economy President Barack Obama told Myanmar President Thein Sein that building democracy and ending human rights abuses will bring greater prosperity to the Southeast Asian nation. http://bloom.bg/117lqYK

Akbar Hashemi Rafsanjani banned from Iran’s presidential poll Iran’s constitutional watchdog on Tuesday banned former president and opposition-backed Akbar Hashemi Rafsanjani from next month’s elections, a move expected to undermine the credibility of the poll. http://on.ft.com/10RYRIM

Indonesia approves DBS acquisition of 40% of Bank Danamon DBS, southeast Asia’s largest bank by assets, on Tuesday won approval from Indonesia for the acquisition of up to 40 per cent of Bank Danamon, the country’s sixth largest bank. http://on.ft.com/12KSOJ8

Strong demand in China helps boost Burberry sales to £2bn Rising sales in China helped annual revenues at Burberry hit £2bn for the first time, as the British luxury goods group banks on the giant Asian economy and Latin America for further growth.
http://on.ft.com/10JzAj4

China reveals details of first carbon trading scheme Operating details of China’s first pilot carbon-trading scheme, in Shenzhen, have been released as it gets ready to launch next month, and as the country prepares to roll out seven pilot schemes by 2014.
http://on.ft.com/10SglVt

Li Keqiang pledges China boost to India trade Li Keqiang, Chinese premier, pledged on Tuesday to open China’s markets to Indian goods to help narrow India’s gaping bilateral trade deficit and boost mutual commerce between the two largest developing nations to $100bn a year. http://on.ft.com/13E8F9Y

BlackRock taps Asia with property deal BlackRock has planted a flag in Asian property by buying MGPA, a Singapore-based private equity firm, in a deal that highlights investor demand for assets that offer steady income and protection against inflation.
http://on.ft.com/10j9kQO

Carlos Slim stubs out cigarette habit Carlos Slim is always on the move: reviewing, restructuring and reinventing his companies. His latest action in this direction came on Tuesday with his industrial conglomerate, Grupo Carso, exiting its investment in Philip Morris México (PMM). http://on.ft.com/191SAAE

China’s Cathay returns to Discovery Metals bid Cathay Fortune, the Chinese private equity group controlled by billionaire Yu Yong, has made a fresh takeover offer for Discovery Metals, the latest twist in a long-running takeover saga. The troubled African copper miner said the new indicative proposal was worth A$0.35-A$0.40 a share, or A$170m-A$195m ($166m-$191m). http://on.ft.com/14vKiOS

Russia’s markets: the Kudrin card As Russia’s economy slows, one name comes up more and more in conversations – that of Alexei Kudrin, the former finance minister who either resigned or was sacked, depending on whom you talk to, in September 2011.
http://on.ft.com/190Fjs8

Emerging markets

MSCI Emerging Market Index up +0.04% at 1,049

Europe
FTSE up -0.19% at 6,791
RTS up +1.05% at 1,448
Warsaw Wig down -0.05% at 45,827
FTSE 300 Eurotop down -0.58% at 1,246

Americas
DJIA up +0.34% at 15,388
S&P 500 up +0.17% at 1,669
Bovespa up +1.01% at 56,265

Asia
Nikkei 225 up +1.60% at 15,627
Topix up +0.44% at 1,276
Hang Seng down -0.45% at 23,261
Shanghai Composite down -0.12% at 2,302
MSCI Asia ex-Japan down -0.15% at 481.95
CNX Nifty down -0.32% at 6,095

Currencies
€/$ 1.29 (1.29)
$/¥ 102.76 (102.46)

Commodities
Brent Crude (ICE) down -0.86 at 103.05
Light Crude (Nymex) down -0.61 at 95.57
100 Oz Gold (Comex) up +9.40 at 1,387