Good morning! Here are the 10 most important stories in markets today.
Spanish Prime Minister Mariano Rajoy slammed Greece PM Alexis Tsipras over austerity demands and for calling Spain and Portugal an “anti-Athens axis”. Rajoy on Sunday hit back at the Syriza party leader and told him to get “serious” about his country’s debt-wracked economy after the Greek PM criticised the negotiations process.
Meanwhile, German Finance Minister Wolfgang Schaeuble delivered a barbed bit of confidence over Greece in the newspaper Bild am Sonntag. “The new Greek government has a lot of legitimacy with the population. I have confidence in the Greek government to implement the necessary measures,” said Schaeuble before he warned that it needs to stick to its promises if it wants more cash.
Eurozone Markit Manufacturing PMI for February is out at 9:30 a.m. GMT (4:30 a.m. ET). Factories slashed prices at the fastest rate since mid-2013 in January. Will February show the same “meagre” growth?
Legendary investor Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday. But all eyes and ears will be on what he says during the first day of trading since the announcement when he goes on CNBC at 11 a.m. GMT (6 a.m. ET).
China’s February HSBC PMI hit a seven-month high. However, exports shrank and deflation pressure still lingered on export orders.
But Asia stocks react positively to China’s interest rate cut as the country tried to ward off deflation. Meanwhile, the US dollar hit an 11 year high again a range of currencies.
Samsung unveiled its new phones: The Galaxy S 6 and Galaxy S 6 Edge. At the Mobile World Congress in Barcelona, Samsung also showcased a new payments platform that could be bigger than Apple Pay.
Chinese smartphone maker Huawei just unveiled its first smartwatch, the Huawei Watch, and it looks like it may be one of the best-looking smartwatches to date. The watch is powered by Google’s Android Wear operating system, and the company has yet to say how much it will cost or when it will launch.
Hyundai Corp is recalling 204,768 Elantras because of a power steering defect that might cause the cars to suddenly revert to manual steering. The recall affects four-door Elantra sedans produced from June 1, 2008, to April 30, 2010, and 2009-10 model Elantra Touring hatchbacks.
Airbus Group CEO Tom Enders hits back at retirement rumours. Speaking to Le Journal du Dimanche he said, “Let me clarify one thing: I don’t plan to retire in a year’s time. I am 56, not 66.”
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