Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to consumers. Video
TOKYO/SYDNEY - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second-largest economy hit a nine-month low.
DETROIT - A new company hopes to make the car-buying process easier for consumers and more efficient for dealers by bringing cars to buyers for test drives, avoiding the need to spend hours at a dealership.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
SGX downplays size after failed ASX exchange deal
NEW YORK |
NEW YORK (Reuters) - Singapore Exchange Ltd (SGXL.SI) CEO Magnus Bocker, whose takeover of market operator ASX Ltd (ASX.AX) was blocked by the Australian government earlier this year, warned on Friday that size alone will not determine which bourses ultimately succeed.
Bockner, speaking at a conference hosted by Sandler O'Neill, also said it was a bit "sad" from Australia's perspective that the door was closed to the planned cross-border tie-up.
"There is a danger if you think that scale is survival," he told reporters after his presentation. "Size will never be the single winner in this."
Bocker was less than enthusiastic about the current round of merger mania in the exchanges space, telling reporters that Singapore is "focusing on organic growth."
Singapore Exchange Ltd (SGX) in April withdrew its bid for Australia's ASX Ltd after the government there blocked it, illustrating the hurdles to such cross-border deals for bourses.
This sparked talk that SGX could look to Nasdaq OMX Group Inc (NDAQ.O) or London Stock Exchange Group Plc (LSE.L) as possible partners.
(Reporting by Maria Aspan and Jonathan Spicer; editing by John Wallace)
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