Jul 27, 2019

London Stock Exchange group in talks to purchase Refinitiv

Photo: Leon Neal/Getty Images

The London Stock Exchange Group (LSE) confirmed they are in talks to purchase Refinitiv Holdings, a financial data analytics company, for $27 billion including debt, reports Reuters.

Why it matters: Acquiring Refinitiv would make LSE a "global exchanges and data powerhouse," says the Financial Times. It would also establish the London Stock Exchange as Bloomberg LP's main contender.

The deal could "create a company with combined annual revenue of more than £6 billion [$7 billion]," says the Wall Street Journal.

The big picture: "Stock-exchange operators face growing pressure on fees they generate from the buying and selling of stocks amid new competition and computerized trading," according to the WSJ.

The European Union blocked the $30 billion merger plan between LSE and Germany's Deutsche Boerse in 2017.

Editor's note: This post has been corrected to reflect that the EU blocked the merger between LSE and Germany's Deutsche Boerse (not Deutsche Bank).

Go deeper

Updated 31 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

Global: Total confirmed cases as of 10 p.m. ET: 12,009,301 — Total deaths: 548,799 — Total recoveries — 6,561,969 — Map.
U.S.: Total confirmed cases as of 10 p.m. ET: 3,053,328 — Total deaths: 132,256 — Total recoveries: 953,420 — Total tested: 37,532,612 — Map.
Public health: Houston mayor cancels Republican convention over coronavirus concerns — Deaths are rising in hotspots — Déjà vu sets in as testing issues rise and PPE dwindles.
Travel: United warns employees it may furlough 45% of U.S. workforce — How the pandemic changed mobility habits, by state.
Education: New York City schools will not fully reopen in fall — Harvard and MIT sue Trump administration over rule barring foreign students from online classes.
🎧 Podcast: A misinformation "infodemic" is here.

Go deeper (<1 min. read)

3 hours ago - Politics & Policy

Transcripts show George Floyd told police "I can't breathe" over 20 times

Photo: Gary Coronado/Los Angeles Times via Getty Images

Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

Go deeper (1 min. read)

5 hours ago - Health

Fighting the coronavirus infodemic

Illustration: Sarah Grillo/Axios

An "infodemic" of misinformation and disinformation has helped cripple the response to the novel coronavirus.

Why it matters: High-powered social media accelerates the spread of lies and political polarization that motivates people to believe them. Unless the public health sphere can effectively counter misinformation, not even an effective vaccine may be enough to end the pandemic.

Go deeper (3 min. read)