Eurostat reported 10.986 million unemployed people in the euro area in May, down 55,000 from April, while the EU total fell 40,000 to 13.163 million. The euro area rate was down from 6.3% a year earlier. Youth unemployment was 14.7% in the euro area and 15.2% in the EU.
Lime, the scooter and e-bike operator backed by Uber, traded as high as $27 and closed around $26 in its July 1 Nasdaq debut after pricing its IPO at $25 a share. The offering valued the company at about $1.7 billion, and Lime said proceeds would help repay its $115 million term loan.
China Resources New Energy, a China Resources Power unit that develops and operates wind and solar projects, started trading in Shenzhen on July 2 after selling 2.11 billion shares at RMB10.11. The IPO could raise RMB24.5 billion with the greenshoe, and the stock reached RMB30.16 intraday after retail demand remained 683.4 times subscribed following a clawback.
After publishing feedback on its 2025 discussion paper, the Bank said it will continue work through 2026 on broader central clearing and minimum haircuts in non-centrally cleared gilt repo, with an update due in early 2027. Bank data showed hedge fund net gilt repo borrowing reached £61 billion in March 2025 and was concentrated among a few funds.
KNDS said on July 1 it is suspending its planned IPO, citing volatility in European defense stocks and saying preparations were substantially complete. Reuters-based reporting said some investors valued the company below €12 billion, while a key shareholder was unwilling to proceed at less than about €12.5 billion.
Getty said its board unanimously decided not to pursue a CMA-supervised divestment of Shutterstock’s editorial business and plans to terminate the merger agreement after the extended July 6, 2026 deadline. The termination would trigger redemption of Getty Images, Inc.’s 10.500% senior secured notes due 2030, and Getty plans to seek advice on financing alternatives.
From 1 July 2026, crypto firms serving EU clients must hold MiCA authorization or cease operating. ESMA’s interim register, last updated on 26 June, listed 244 authorized providers. ESMA has instructed unauthorized firms to stop onboarding new clients and limit activity to transfers, sales and orderly wind-down steps.
Windrose Electric said it aims to list in the United States this year through a SPAC transaction that would value the company at at least $2 billion and is intended to raise more than $200 million by year-end. The company said it made its first U.S. delivery in April.
Sky News, cited by Alliance News and AJ Bell on June 5, reported that Openwork Partnership, Söderberg and Advent International were shortlisted for Schroders' Benchmark unit. Perella Weinberg Partners is running the process, and the business was expected to be valued at up to £250 million during Schroders' agreed takeover by Nuveen.
Eni said it signed an agreement with Mercuria to create a 50/50 venture that will handle selected energy commercialization and trading activities, including oil, biofuels, natural gas, LNG and LPG, along with related logistics and infrastructure rights. Mercuria said the Geneva-headquartered platform is expected to start operating in 2027, subject to regulatory approvals.
Lewis Silkin says it acts for Rockfire Investment Finance, in liquidation, in Quincecare claims against Royal Bank of Scotland, a NatWest Group entity, with the claim valued at around £180 million. The case relates to payment instructions connected to alleged fraud involving companies linked to Liam Kavanagh, with Thurrock Council identified as an investor.
The UK Competition and Markets Authority said on July 1 it referred nexfibre’s planned acquisition of Substantial Topco and units including Netomnia, Brsk, Brsk ISP and YouFibre for an in-depth inquiry. The referral followed a fast-track request from the parties, and the Phase 2 group must report by Dec. 15, 2026.
Associated British Foods said its sugar business expects a FY2026 adjusted operating loss of £25 million to £60 million after Q3 sugar sales fell 4%. It said higher gas cost expectations are pressuring the European outlook and could trigger onerous contracts, alongside lower European prices and rain-related production delays in Tanzania.
In a July 1 ruling, the UK Supreme Court unanimously dismissed BlueCrest’s appeal over the tax treatment of senior LLP members, backing HMRC on the salaried members rules. The case covers 2014 to 2019 and involves about £142 million of PAYE determinations and £55.3 million of National Insurance liabilities.
