In The News:
The economy added 175,000 jobs in February higher than the 145,000 expected. The bad news the unemployment rate ticketed up to 6.7% from 6.6%. We will have a full recap in Monday’s edition.
Sbarro, the Italian restaurant chain that’s a fixture in mall food courts, is preparing a bankruptcy filing as soon as this weekend. The move would let the pizza chain restructure as it struggles with sluggish demand and debt costs. The filing would represent the company’s second trip to bankruptcy court in the past three years. Sbarro, who first sought protection from creditors in April 2011, sought protection due slower sales and higher costs for ingredients such as cheese. As part of its latest efforts to streamline the company, Sbarro announced plans last month to close 155 locations in North America.
Sale on Aisle 4…
The second-largest U.S. grocery store operator, Safeway (SWY), announced it is being bought by private equity firm Cerberus Capital Management in a deal valued at about $9.4 billion. The deal will combine Safeway with Cerberus’ Albertsons chain, creating a dominant grocery franchise on the West Coast with a grocery network of more than 2,400 stores and 250,000 employees. No store closures are expected. Safeway shareholders will receive $32.50 per share in cash plus other distributions with a value of $3.65
In The Markets:
Shares in Asia ended the week mixed as investors anxiously wait for the job’s report out of the US on Friday and China saw its first ever corporate bond default.
European markets closed in the green Thursday after ECB (European Central Bank) President Mario Draghi didn’t announce any fresh easing measures.
US markets closed mixed on Thursday as investors waited for Friday’s jobs report. The S&P hitting record level for the 50th time in the past 12 months. DJIA: +61.71 16421.89 Nasdaq: -5.85 4352.13 S&P +3.22 1877.03
In Dinner or Drink:
1 part of amaretto almond liqueur
1 part of Southern Comfort® peach liqueur
Splash of sweet and sour mix
Splash of club soda
Add one Shot of Amaretto and Southern Comfort add a splash of sour and soda, and fill rest with Cranberry Juice to taste.
Have a safe and wonderful weekend, yall!