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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

Japan Eyes Reforms to Revitalize Economy as Yen Weakens 

Japan authorities are shifting their focus toward structural economic issues contributing to the ongoing depreciation of the yen, moving beyond mere market interventions which have shown limited effectiveness in halting the currency's decline. 

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Nvidia’s Surge Boosts Nasdaq Amid Rising Bond Yields 

Nvidia's shares soared again on Tuesday, continuing their significant recent gains on an otherwise subdued day for the stock market. 

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Saudi Wealth Fund to Restructure Management Amid Budget Strain 

Saudi Arabia's USD 925 billion sovereign wealth fund, the Public Investment Fund (PIF), is planning a major management reorganization to address rising costs and enhance investment success. 

2024-5-28 | Industry Dynamics