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Nasdaq bid for LSE fails
Nasdaq's bid to take over the London Stock Exchange has failed and the latter is now said to be pursuing talks with the Tokyo Stock Exchange.

Nasdaq said just 0.4 per cent of the London market's shareholders had accepted its 1,243p-a-share offer which needed acceptances from at least 22 per cent.

LSE's talks with the Tokyo Stock Exchange are part of a strategy of broadening alliances with other global exchanges. Clara Furse, the UK market's chief executive, is also believed to be in talks with the Bombay Stock Exchange about a collaboration and to be keen on a deal in China.

The LSE is likely to take a stake in India's stock market though this tie-up is unlikely in Japan because the exchange is still owned by its members, something that is not expected to change until 2009.

Any major deal involving the UK market will need the support of Nasdaq which retains a 28.75-per cent stake in the LSE, which will rise to more than 30 per cent once the LSE initiates its share buy-back programme.
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China looks at 8 per cent GDP growth
China is targeting an 8 pc growth rate in gross domestic product this year. The country is also more concerned over inflation, according to the central bank's quarterly monetary policy report.

China will clamp down on credit growth and keep the increase in M2 money supply at 16 per cent the People's Bank of China said in statement posted on its website today.

The Chinese economy expanded at the fastest pace in 11 years in 2006.

Consumer prices jumped the most in almost two years in December.
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domain-B : Indian business : News Review : 12 February 2007 : international business