Hollingsworth Daily Post

• Gucci Snake Bag in China at $4,390 Makes Kebab Griller See Rich as Cheats At China’s newest Gucci store, in Shijiazhuang, snakeskin purses sell for the equivalent of $4,390, about twice the city’s per capita annual income. Next door at Brooks Brothers, button-down shirts go for $190.


• London Bankers Rail Against EU Oversight as Lea Invokes Secession Option In a Georgian townhouse four minutes walk from Parliament, bankers, lawyers and economists held an off-the-record evening meeting to plot how to fight European Union financial regulation that they deem a threat to London.


• Saving $4 Billion in Interest Comes With Fannie-Freddie Void in Borrowing Fannie Mae, Freddie Mac and the Federal Home Loan Banks are paying down debt at a record pace, creating a supply void in bond markets that may have saved U.S. taxpayers $3.8 billion and corporations $230 million in borrowing costs.


• AIG Said to Dismiss Advisory Firm McKinsey as Benmosche Seeks to Cut Fees American International Group Inc. dismissed McKinsey & Co. as an adviser for the bailed-out insurer’s restructuring as Chief Executive Officer Robert Benmosche seeks to trim consulting fees, said two people familiar with the matter.


• Connecticut Hedge-Fund Capital Gets More Wee Weevils to Fight Killer Weed More help is on the way for the hedges in hedge-fund capital Greenwich, Connecticut: a larger army of wee black weevils.


• Morgan Stanley's Mack Proposes Single Regulator to Oversee Banks Worldwide Morgan Stanley Chief Executive Officer John Mack, who struggled to return the bank to profitability amid the financial crisis, said a single regulator should oversee financial institutions worldwide.


• FDIC Plan May Cost Biggest Lenders Including Bank of America $10 Billion The Federal Deposit Insurance Corp.’s plan to rebuild its reserves may cost Bank of America Corp. and three of the largest U.S. banks more than $10 billion.


• Sanofi's CEO Viehbacher to Keep Shopping for Biotechs, Vaccines, New Drugs Sanofi-Aventis SA will continue “shopping” for acquisitions to build its vaccine, biotechnology, and nonprescription medicine businesses, as well as expand in emerging markets, Chief Executive Officer Chris Viehbacher said in an interview.


• Ma Sees Want Want in China Bring Prosperity to Taiwan as Shares Return 39% In a wood-paneled boardroom in downtown Shanghai, Everett Chu pauses from his job overseeing the finances of snack food giant Want Want China Holdings Ltd. to marvel at the fickleness of history.


• China Stimulus Winners at Great Wall Motors in Hebei Get Best of Shanghai The biggest winners from China’s $586 billion economic stimulus are emerging more than 1,000 kilometers (620 miles) from Shanghai in the factories and stores of Chengdu and Xi’an.