The main entrance of the London Stock Exchange. Photo: Chris J Ratcliffe/Getty Images

The London Stock Exchange this morning rejected a proposed $39 billion takeover by Hong Kong Exchanges and Clearing, saying that it instead plans to proceed with its own $27 billion acquisition of financial data firm Refnitiv.

Why it matters: We suggested this one could face political headwinds, and it appears that LSE's board felt the same, per the mention in its rejection letter of how HKEX's government relationships could "complicate matters." LSE also told HKEX not to bother with a follow-up offer, writing: "The board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement."

Go deeper: How Brexit and Hong Kong could influence the Saudi Aramco IPO

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15 mins ago - World

Trump announces historic normalization of ties between Israel and UAE

Israel Prime Minister Netanyahu, Trump and UAE Crown Prince Mohammed bin Zayed. Photo: Artur Widak/NurPhoto; Samuel Corum; Odd Andersen/AFP via Getty Images

President Trump announced a "historic" deal Thursday which will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank.

Why it matters: This is a major breakthrough for Israel, which does not have diplomatic recognition in many Middle Eastern countries but has been steadily improving relations in the Gulf, largely due to mutual antipathy toward Iran. Egypt and Jordan are the only two Arab countries that have active diplomatic ties with Israel, and the UAE is the first of the Gulf Arab states to normalize relations.

Updated 37 mins ago - Politics & Policy

Trump vows to block stimulus funding for mail-in voting and USPS

President Trump on Thursday told Fox Business' Maria Bartiromo that Democratic demands to fund mail-in voting and the U.S. Postal Service in ongoing coronavirus stimulus negotiations were a non-starter.

Why it matters: Trump directly linked Democrats' desired $3.6 billion for mail-in voting and $25 billion for the USPS to his continued baseless claims that increased mail-in voting will lead to widespread voter fraud.

Wind and solar power hit record global market shares in first half of 2020

Reproduced from Ember; Chart: Axios Visuals

A steep decline in coal-fired power combined with rising wind and solar output drove the carbon-free sources to record global market share in the first half of 2020, per a new analysis from the environmental think tank Ember.

Why it matters: The report shows how the coronavirus pandemic is speeding the ongoing shakeup of the global power mix — but also how it's occurring too slowly to reach international climate goals.