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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