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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 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

Scoop: Trump tells confidants he plans to pardon Michael Flynn

Photo: Alex Wroblewski/Getty Images

President Trump has told confidants he plans to pardon his former national security adviser Michael Flynn, who pleaded guilty in December 2017 to lying to the FBI about his Russian contacts, two sources with direct knowledge of the discussions tell Axios.

Behind the scenes: Sources with direct knowledge of the discussions said Flynn will be part of a series of pardons that Trump issues between now and when he leaves office.

Erica Pandey, author of @Work
4 hours ago - World

Remote work shakes up geopolitics

Illustration: Eniola Odetunde/Axios

The global adoption of remote work may leave the rising powers in the East behind.

The big picture: Despite India's and China's economic might, these countries have far fewer remote jobs than the U.S. or Europe. That's affecting the emerging economies' resilience amid the pandemic.

Trump gives Biden access to presidential intelligence briefings

Photo: Mark Makela/Getty Images

The Trump White House on Tuesday gave President-elect Biden access to daily presidential intelligence briefings, a source familiar with the matter tells Axios.

Why it matters: Trump has refused to share the briefs until now, as he continues to challenge the result of the election and declines to concede. The president's acquiescence comes as another sign that the transition to a Biden administration is taking place.