Today’s Best Market Rumors (12/23/2011) Falcone Settlement, China Sovereign Fund

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Updated throughout the day.

Petronas is in talks with several global oil majors including Shell and Exxon Mobil to develop petrochemical plants within its $20 billion refinery complex in southern Malaysia (Reuters)

China’s $410 billion sovereign wealth fund China Investment Corp. will receive additional funding of up to $50 billion  probably to invest in Europe (Reuters)

Hedge-fund manager Philip Falcone turned down a settlement on civil fraud charges that would have banned him from the industry (WSJ)

Dougals A. McIntyre