Good afternoon
Our daily round up of financial and corporate news.
The seasonally adjusted unemployment rate for May 2019 was 3.5 per cent, unchanged from the previous month and down from 3.9 per cent when compared to May 2018. The seasonally adjusted number of unemployed persons was 8,844 with the unemployed males and the over 25 age group being the major contributors to the overall level of unemployment. The unemployment rate for persons aged 15 to 24 years (youth unemployment rate) was 10.3 per cent, while the rate for the 25 to 74 age group stood at 2.6 per cent – NSO/CD
The euro stabilised on Friday but was on track for its biggest monthly gain in 17 months as traders questioned how much firepower the European Central bank could potentially roll out to support a struggling economy and boost inflation. Reuters
The French national statistics bureau warned that the countries debt has slipped further into the red. Corporate Dispatch
Apple’s stock took an $8 billion hit after the news that design chief Jony Ive will be exiting the company. Business Insider
‘Markets are going backwards’: Swiss row dismays traders across Europe. In fact investors fear a loss of competition and lack of access to Swiss stocks if the dispute is not resolved before June 30. MarketWatch
British Prime Minister Theresa May has announced the first tourism sector deal will prepare Britain for an extra 9 million visitors per year, with commitment to build 130,000 new hotel rooms by 2025. Corporate Dispatch
Nike shares slipped late Thursday after the shoe giant reported fourth-quarter profits that fell short of Wall Street’s expectations for the first time in seven years. Analysts were optimistic heading into the results even after a disappointing third-quarter showing. – Business Insider
Leisure group Merlin Entertainments, best known for Legoland Resorts and Madame Tussauds wax museums, is to be acquired in a £6bn deal by the Danish billionaire family that controls toymaker Lego, private equity group Blackstone and a Canadian pension fund. Financial Times
Saudi Arabia’s Public Investment Fund (PIF) risks being pulled deeper into Crown Prince Mohammed bin Salman’s domestic projects, curbing its international ambitions and tying its fortunes closer to its home market, four sources familiar with its strategy said. Reuters
Bitcoin fell nearly $2,000 in a matter of minutes in a sharp crash, a reminder of the cryptocurrency’s volatility even as it has soared this month to its highest level since last year’s boom-and-bust cycle. Financial Times
Indian advertisers are on track to spend more than $400 million during this year’s ICC Cricket World Cup, looking to cash in on a mania that is smashing viewing records in the world’s biggest market for the sport. Euronews
CiConsulta Advisory
