(RTTNews) - Economic confidence from euro area and flash consumer prices from Germany are due on Thursday, headlining a busy day for the European economic news.
At 2.00 am ET, Swiss foreign trade data for December is due. The trade surplus totaled CHF4.45 billion in November.
In the meantime, Statistics Norway releases retail sales and unemployment data. The jobless rate is seen unchanged at 5.2 percent in three months to November.
At 3.00 am ET, the National Institute of Economic Research is slated to issue Swedish economic tendency survey results.
Also, Spain's unemployment data for the fourth quarter is due. The jobless rate is expected to rise to 16.6 percent in the fourth quarter from 16.26 percent in the third quarter.
Half an hour later, Statistics Sweden is scheduled to publish retail sales and unemployment figures for December. Economists expect the jobless rate to climb to 8.4 percent from 7.7 percent in November.
At 4.00 am ET, Italy's Istat publishes business and consumer confidence survey results.
At 5.00 am ET, the European Commission is slated to issue euro area economic sentiment survey results. The economic confidence index is forecast to fall to 89.5 in January from 90.4 in December.
At 8.00 am ET, Destatis releases Germany's flash consumer price data for January. Economists forecast consumer prices to rise 0.7 percent annually, reversing a 0.3 percent drop in December.
A Billy Beane-backed SPAC has been linked a stake in Fenway Sports Group dating back to August. That deal has now fallen apart.What Happened: Talks between RedBall Acquisition Corp (NYSE:RBAC) and Fenway Sports Group are over, reports Axios.
Fenway Sports Group owns the Boston Red Sox, Liverpool FC, a stake in Roush Fenway Racing and a stake in New England Sports Network. RedBall was seeking to acquire a 20% to 25% stake in the company valuing Fenway Sports Group at $8 billion.
The sports SPAC raised $575 million in its IPO and was seeking nearly $1 billion in outside investments to push the deal through. RedBall couldn't raise the additional outside funds to get a deal done, according to Axios.
Related Link: 10 SPACs Trading Under $11 For Investors To Consider In 2021
Why It’s Important: RedBall has been linked to Fenway Sports Group back in August and could now be starting over. The company could now turn to acquiring a larger percentage of an individual sports team worth less.
Fenway Sports Group could still sell a portion of its business to an outside investor or could look to land a deal with a different SPAC targeting the sports market.
Price Action: Shares of RedBall Acquisition are down 3% to $10.55 in after-hours trading.
Photo: Billy Beane, RedBall Acquisition, courtesy of Moboshgu
Norwegian Cruise Line's Norwegian Sky ship.
Alan Diaz/Associated Press
