Daily Update — February 24, 2026
Uranium’s Next Decade; Trends Reshaping Telecom in 2026; and Insurers' Growing Interest in Lloyd's
Today is Tuesday, February 24, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Uranium's next decade: from tight supply to a broader mining boom
Nuclear power is experiencing a global resurgence as governments and corporations seek reliable, low-carbon electricity to meet rising energy demand, driven by AI, data centers and electrification. The International Atomic Energy Agency projects that global nuclear capacity could double by 2050, reaching up to 992 gigawatts, as policy support continues to grow.
The US aims to quadruple its domestic nuclear capacity to 400 GW by 2050, and other countries, including China, India, Russia, Turkey and South Africa, are advancing expansion plans to reduce reliance on fossil fuels. Corporate demand is adding further momentum, with major tech companies such as Meta, Alphabet and Microsoft announcing power purchase agreements and investments in nuclear startups.
These trends are driving renewed focus on uranium, the essential fuel for nuclear reactors. Prices are rising as demand tightens and utilities secure longer-term supply contracts, setting the stage for a multiyear uranium upcycle that benefits miners, developers and the wider nuclear fuel chain. Consensus forecasts from Visible Alpha, a part of S&P Global Market Intelligence, indicate the industry is shifting toward a broader, more competitive landscape.
Technology & Innovation
Listen: Wired vs. Wireless: The Convergence Trends Reshaping Telecom in 2026
On this episode of the "MediaTalk" podcast, S&P Global Market Intelligence Kagan analysts Lynnette Luna, John Fletcher and Mohammed Hamza joined host Mike Reynolds to examine the rapidly evolving mobile and broadband markets in the US and Europe. Connectivity has become a core priority for telecom providers, with streaming service aggregation emerging as a key strategy for traditional operators to remain competitive.
The analysts identified contrasting pay TV trends that shape telecom business models: The US market showed some resilience in 2025 after years of decline, while European markets experienced smaller subscriber losses thanks to effective bundling and strong free-to-air offerings.
Furthermore, the convergence of fixed and mobile services is transforming industry competition. T-Mobile's expansion into fiber, cable companies' increasing mobile offerings and the rise of fixed wireless access are creating dynamics that blur traditional boundaries. As telecom companies divest their content assets, which are being consolidated by dedicated media firms, the way their services are packaged, marketed and delivered to consumers are fundamentally shifting.
Capital Markets
Zurich's Beazley approach marks latest move in rush to enter Lloyd's of London
Zurich Insurance Group's £8 billion bid for specialty insurer Beazley is the latest example of the growing interest among insurers and investors in entering Lloyd’s of London. If successful, the acquisition would make Zurich — currently without a Lloyd's presence — the largest player in the insurance market. Beazley's Beazley Furlonge is the largest managing agent at Lloyd's by gross written premium. Business written at Lloyd's accounted for 77.7% of Beazley's total insurance revenue in 2024.
Zurich is not alone in its pursuit. Several Lloyd's insurer acquisitions were announced in 2025, with most buyers based in the US. Over the past two years, excluding Zurich’s bid, acquirers have invested at least €2.69 billion in Lloyd's insurers.
Lloyd's has also seen a notable rise in new syndicates. It began 2026 with 108 active syndicates, 12 more than at the start of 2025, marking the largest annual growth in at least five years.
In case you missed it
- Rising labor, food, insurance and tax expenses have sustained restaurant inflation at recession-level highs, prompting operators to raise menu prices and causing millions of Americans to change where and how often they dine out.
- French cement producer Vicat anticipates continued growth in 2026 despite ongoing macroeconomic and geopolitical uncertainties, relying on strong emerging markets and major infrastructure projects to counter limited visibility in the US and Europe.
- Net interest margins at Indian banks are expected to stabilize in the coming quarters as the rate-cut cycle pauses, although that could be impeded by sluggish deposit growth.
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