TECHNOLOGY VIDEO

Elon Musk, Chief Executive of Tesla Motors and SpaceX, smiles during the Reuters Global Technology Summit in San Francisco, June 18, 2013. REUTERS/Stephen Lam
REUTERS GLOBAL TECHNOLOGY SUMMIT

Musk: Time to tackle dealer dispute

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 

 

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Asian stocks tumble on weak China PMI, Fed policy plan

TOKYO - Asian shares tumbled to nine-month lows on Thursday as slowing Chinese manufacturing activity exacerbated sentiment already unnerved by the U.S. Federal Reserve Chairman Ben Bernanke confirming the Fed would begin reducing its stimulus spending later this year.

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Start-up to bring test-drive cars to buyers, avoiding dealership

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.

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China denounces EU airline carbon law, seeks talks

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.

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OGX plays down Petronas stake buy rumors

SAO PAULO | Fri Feb 22, 2013 5:38pm EST

SAO PAULO (Reuters) - Brazilian oil company OGX Petroleo e Gas SA (OGXP3.SA) played down rumors it is selling a stake to Malaysia's state oil giant Petronas in a filing on Friday, in response to market volatility.

The filing sought to clarify "speculative rumors over an eventual sale to a foreign investor" after shares of the firm controlled by billionaire Eike Batista jumped 12 percent on Thursday and rose as much as 9 percent on Friday before giving back its gains.

OGX is "weighing business opportunities with various investors," the filing said, but added that "there is no consummated deal that should be communicated to the market."

OGX shares closed down 0.28 percent at 3.59 reais on Friday. The company has faced a series of setbacks in recent months, including lower-than-expected oil output.

(Reporting by Danielle Assalve and Caroline Stauffer; editing by Gerald E. McCormick, G Crosse)
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