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LSE Group Targets Blackstone/Thomson Reuters Stake Buyback As Raises Outlook

LONDON, March 2 (Reuters) – London Stock Exchange Group (LSEG.L) announced plans to buy back more of its shares on Thursday as it raised its income growth outlook and hailed the successful integration of Refinitiv, which it said had supercharged its ability to generate cash.

LSEG said it would seek shareholder consent to buy more of its own stock from a consortium of Blackstone (BX.N) and Thomson Reuters (TRI.TO) from which it acquired the data analytics group for $27 billion in January 2021.

Full coverage: REUTERS

ECB Confronts A Cold Reality: Companies Are Cashing In On Inflation

FRANKFURT, March 2 (Reuters) – Huddled in a retreat in a remote Arctic village, European Central Bank policymakers faced up last week to some cold hard facts: companies are profiting from high inflation while workers and consumers foot the bill.

The prevailing macroeconomic narrative over the past nine months has been that sharp increases in prices for everything from energy to food to computer chips were ramping up costs for companies in the 20 countries that make up the euro zone.

Full coverage: REUTERS

Euro Rally Pauses Ahead Of Europe Inflation Data

LONDON/SINGAPORE, March 2 (Reuters) – The euro fell against a strengthening dollar on Thursday, after having posted its largest one-day gain in a month, ahead of euro zone inflation data that could renew the rally in the currency.

The euro rose 0.9% on the dollar on Wednesday, marking its biggest daily jump in a month, following hotter-than-expected German inflation in February that added to pressure on the European Central Bank to raise rates after unexpectedly strong readings in France and Spain. It was 0.35% lower at $1.0633 ahead of inflation data due at 1000 GMT.

Full coverage: REUTERS

Analysis: Cash-Strapped Countries Face IMF Bailout Delays As Debt Talk Drags On

LONDON, March 2 (Reuters) – Countries in debt distress such as Zambia and Sri Lanka turning to the International Monetary Fund (IMF) for financial help are facing unprecedented delays to secure bailouts as China and Western economies clash over how to provide debt relief.

Full coverage: REUTERS

Morning Bid: EU Inflation Risks Loom Large For Markets

March 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole.

Asian markets had thought to bask in the glow from Wednesday’s radiant PMI data from China, and the region in general. Taiwan, Thailand and Vietnam all enjoyed a pick-up in activity, while JPMorgan’s global manufacturing PMI rose nearly 2 points to an eight-month high of 50.8.

The hopeful mood, however, could not survive Elon Musk’s “Master Plan”. Seems his three-hour YouTube live stream was big on robots and saving the planet but short on new vehicles, specifically a much-awaited small and affordable EV.

Full coverage: REUTERS

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Industry Dynamics

UK Inflation Rate Unexpectedly Rises To 10.4% In February

LONDON, March 22 (Reuters) – British inflation unexpectedly rose to 10.4% in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest interest rate decision. Economists polled by Reuters had forecast that the annual CPI rate […]

2023-3-22 | Industry Dynamics

Dollar Pauses, Sterling Drops Ahead Of Fed, BoE

LONDON/SINGAPORE, March 21 (Reuters) – The dollar steadied and sterling fell on Tuesday as traders reckoned banking stress would keep the Federal Reserve and the Bank of England from hiking rates much further, or at all, later in the week. Investors remained concerned over the fate of the banking sector after U.S. lender First Republic shares tumbled […]

2023-3-21 | Industry Dynamics

Analysis: UBS Swallows Doomed Credit Suisse, Casting Shadow Over Switzerland

LONDON, March 20 (Reuters) – UBS Group (UBSG.S) emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender. The unprecedented move announced late on Sunday in Zurich capped a race against time by regulators to avert a […]

2023-3-20 | Industry Dynamics