Minor headway at trade talks
London, UK: Little headway was made at the ongoing talks at the World Trade Organisation. The six big economic powers again came up against a stalemate in overcoming obstacles to a global trade deal. They however, stressed their commitment to reaching a deal on farm and industrial goods by end-April.

European Union trade head Peter Mandelson, who is under pressure to give ground on agricultural tariffs, tried to strike an optimistic note saying that the six countries had made progress in a number of areas.

But Brazilian foreign minister Celso Amorim said there was still no breakthrough in WTO negotiations after two days of talks. The 149 member countries of the WTO have to meet the April deadline set in Hong Kong in December 2005 for a draft accord on agriculture and industrial goods, the two most controversial areas, as a key step towards a full trade treaty by early 2007.

The WTO's Doha round, of 2001, aims to boost the global economy and lift millions out of poverty.

The EU, the United States, Brazil, India, Australia and Japan, representing a range of trading interests, have taken the lead in trying to overcome deep differences, notably over the size of EU farm tariff cuts and what markets developing states like Brazil and India can open up in manufacturing.
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NYSE plans to bid for the London Exchange
New York, USA: The New York Stock Exchange (NYSE) is said to be considering bidding for the London Stock Exchange (LSE).

Recently the LSE thwarted an all cash offer of 950 pence per share on Friday which added up to a 2.43 billion ($4.2 billion) bid from Nasdaq saying it "substantially" undervalued the firm. Nasdaq has also not ruled out raising its bid or going hostile.

The New York exchange has just made its debut on the stock market, while its merger with electronic trading network Archipelago was completed only four days ago.

If the NYSE decides to make a bid it will become the fourth major world exchange to show an interest in the London exchange. Germany's Deutsche Boerse started the takeover race for the exchange with a £1.25 billion bid in 2004. Paris-based Euronext also expressed interest while Australia's Macquarie Bank recently dropped its £2.6billion offer.
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