• The number of Americans classified as long-term unemployed — jobless for at least 27 weeks — has climbed above 1.8 million on average this year, up about 45% from 2019 and 55% from 2023, a CNBC analysis of Bureau of Labour Statistics data found. The long-term unemployed account for roughly one out of every four jobless workers, according to the latest available U.S. government data.
• Long-term unemployment can have ramifications on financial, emotional and family health that linger even after workers reenter the workforce. “It tells us a lot about economic health,” said Cory Stahle, an economist at job site Indeed. “It tells us about how good of a job the labour320 market is doing at absorbing people.”
• Long-term unemployed workers' pay was approximately 32% lower after a decade than those who had not lost work, according to a working paper from the Boston Federal Reserve. Those unemployed for shorter periods took a 9% cut over the same time frame. Studies also show a possible link between long-term unemployment and depression, with a Pew Research report finding the long-term unemployed were over twice as likely to seek professional help for depression or other mental health challenges than those out of work for under three months.
• Research shows unemployment can negatively impact families and communities — parental job loss increases the chance a child repeats a grade by about 15%, and communities with a larger share of long-term unemployed people have higher rates of crime and violence, the Urban Institute reported.
• A rising number of long-term unemployed workers is a feature of the “low-hire, low-fire” labour market, according to Indeed's Stahle, with job opening and hiring rates tumbling from pandemic-era peaks. The group also includes new college graduates struggling to land first roles; recent graduates' unemployment rate was 5.6%, outpacing the broader 4.2% average, according to the New York Fed. The national economy could suffer as more people stay jobless longer and curtail spending, which makes up about two-thirds of U.S. gross domestic product.

(Source: CNBC)

• After multiple delays in publication, Dolphin Cove Limited (DCOVE) released its Audited Financial Statements for the year ended December 31, 2025 (FY2025), reporting a net loss of US$2.34Mn, a sharp reversal from the US$1.83Mn profit recorded in FY2024. The deterioration was driven by lower revenues on the back of hurricane-related disruptions, along with a substantial impairment charge against related party balances amid the ongoing bankruptcy proceedings involving its parent company.
• Hurricane Melissa, which forced the temporary closure of several tourism properties and Dolphin Cove locations, along with a decline in visitor arrivals, contributed to the decline in the company’s topline. Revenues declined by 14.5% to US$13.09Mn, reflecting contractions across both major revenue streams. Programme revenue fell by 21.3%, while ancillary services revenue decreased by 7.9%. Management noted that the storm significantly disrupted hotel occupancy, cruise passenger arrivals, and park operations, particularly in Western Jamaica.
• Although direct costs declined by 11.9% to US$2.08Mn, the reduction was insufficient to offset weaker revenues, resulting in gross profit falling by 14.9% to US$11.01Mn. Gross margins also fell modestly to 84.1% from 84.6%. Additional pressure came from losses on the disposal of property, plant and equipment and live assets, which together amounted to US$0.23Mn during the year.
• That said, operating expenses were relatively stable, decreasing by just 1.1% to US$9.79Mn. Selling expenses provided some relief, declining by 10.5%, while administrative and other operating expenses increased modestly by 0.6% and 4.7%, respectively. This, however, was not enough to offset the lower topline.
• Furthermore, a significant non-cash charge emerged during the year as the company recognised a US$2.82Mn impairment provision against related party receivables. The provision primarily relates to balances owed by affiliated entities within the Dolphin Discovery group. It followed Chapter 11 bankruptcy filings by Controladora Dolphin, S.A. de C.V., the DCOVE’s intermediate parent and the ultimate parent company, TDC Leisure Investments Holdings LLC. It also included a full provision against funds advanced for a proposed Dolphin Encounter Park in St. Lucia, where no meaningful progress was made during the year. Given the uncertainty surrounding the proceedings and the recoverability of balances owed by related parties, management elected to increase provisions against these receivables. Consequently, the company moved from an operating profit of US$2.94Mn in FY2024 to an operating loss of US$1.80Mn in FY2025.
• Looking ahead, management expects operating conditions to improve throughout 2026 as tourism activity normalises and hurricane-related operational disruptions subside. That said, a key downside risk to this outlook is the possibility of continued weakness in tourism demand if the conflict in the Middle East becomes protracted, leading to sustained elevated fuel costs and broader inflationary pressures. Higher travel costs and reduced consumer discretionary spending could dampen visitor arrivals and delay the pace of recovery in the company's operating performance. Furthermore, the company remains exposed to uncertainties regarding the Chapter 11 proceedings involving its parent group and the ultimate recovery of related-party balances.
• DCOVE’s stock price has declined by 15.2% since the start of the year to close at $10.18 on Wednesday, June 3, 2026. At this level, the stock trades at a price-to-book (P/B) ratio of 0.9x, which is below the Junior Market Others Sector average of 1.7x.

(Sources: Company Financials & NCBCM Research)

• The Jamaica Stock Exchange (JSE) has suspended trading in the ordinary shares of Derrimon Trading Company Limited (DTL) after the company failed to submit its audited financial statements for the year ended December 31, 2025 (FY2025) within the timeframe stipulated under Junior Market rules.
• According to the JSE, the audited financial statements, which were due on March 2, 2026, became ninety-two (92) days overdue on June 2, 2026, triggering an automatic suspension of trading under Junior Market Rule Appendix 2, Part 4 (2)(e). As a result, investors will be unable to trade DTL shares until the company files the outstanding audited results and the suspension is lifted.
• The suspension follows an earlier disclosure by Derrimon that the release of its FY2025 audited financial statements would be delayed after matters requiring further review were identified during the year-end audit process. The company indicated that questions arose regarding information generated from its Enterprise Resource Planning (ERP) system, prompting its external auditors to engage specialist resources to conduct additional assessments.
• Management stated that the review is intended to determine the nature, extent, and potential impact of the issues identified and that the Board considered it prudent to complete the process before releasing the audited financial statements. The company has maintained that its operations remain unaffected and that it continues to work closely with its auditors to finalise the review and complete the audit process.
• At the time of its delay announcement, Derrimon indicated that it expects to publish its FY2025 audited financial statements by June 30, 2026. Until then, the company's shares are expected to remain suspended from trading on the JSE.
• Prior to the suspension, DTL's shares closed at J$1.46 on June 2, 2026, representing a year-to-date decline of 9.3%. At that price, the stock traded at a price-to-book ratio of 1.31x, below the Junior Market Distribution Sector average of 3.92x.

(Sources: JSE & NCBCM Research)

• The Government of Jamaica (GOJ) has approved a 16% fare increase for public passenger vehicle (PPV) operators, marking the first fare adjustment since October 2023 and bringing long-awaited relief to transport operators who have argued that rising operating costs have eroded profitability.
• The increase, which had originally been scheduled for implementation in April 2024, will take effect in two phases. An initial 8% increase became effective June 2, 2026, with a further 8% adjustment scheduled for July 1st. According to Minister of Energy, Transport and Telecommunications, Daryl Vaz, the phased implementation was designed to balance the financial pressures facing operators while limiting the immediate impact on commuters.
• The adjustment fulfils a commitment made by the Government in 2023 when a 35% fare increase was approved for operators. At the time, only the first phase, a 19% increase, was implemented, while the remaining 16%, which was set to be executed in April 2024, was deferred amid concerns about elevated inflationary pressures. The increase was subsequently delayed further due to adverse economic conditions, likely to include the effects of Hurricanes Beryl and Melissa.
• For commuters, the increase will translate into higher transportation costs across the island. The fare adjustment will also carry implications for inflation. Transportation costs form an important component of Jamaica's Consumer Price Index (CPI), and previous fare increases have had a noticeable impact on headline inflation.
• Following the 19% PPV fare increase implemented in October 2023, Jamaica's monthly inflation rate accelerated to 1.6% in November, the highest monthly reading for that calendar year, as the Transport Index surged 9.9%. Transport costs also contributed to point-to-point inflation rising to 6.9% by December 2023, above the Bank of Jamaica's 4%-6% target range.
• Consequently, while the phased approach may have helped to soften the immediate impact on consumers, the increase is still likely to place some upward pressure on inflation in the coming months as higher transportation costs filter through the economy. The extent of that impact will likely be closely monitored by the Bank of Jamaica, particularly given the ongoing U.S.-Iran war and policymakers' efforts to keep inflation within the central bank's target range.

(Sources: JIS, STATIN &  NCBCM Research)

• The tourism sector maintained its growth momentum through April, supported by continued strength in cruise arrivals and gains in the high-value-added stopover segment during the review period. This is according to the Central Bank of The Bahamas’s (CBOB) latest Monthly Economic and Financial Developments (MEFD) report for April.
• The report indicates that economic activity remained above its long-term trend, with tourism continuing to be the primary driver of growth despite ongoing capacity constraints in parts of the stopover market. “The domestic economy’s growth momentum was sustained at a healthy pace during April, vis-à-vis the comparable 2025 period,” the CBOB highlighted.
• The MEFD report explains that data from the Nassau Airport Development Company (NAD) showed total international departures from Lynden Pindling International Airport increased by 5.3% to 163,582 passengers in April, compared to the same month last year.
• It adds that the strongest gains came from markets outside the US, with non-US departures rising by 42.6% to 31,990 passengers. US departures, however, declined by 1% to 131,592 passengers.
• The Central Bank’s data reveals that during the first four months of the year, total outbound traffic increased by 4.8% to approximately 600,000 passengers. On a year-to-date basis, total room nights sold grew by 10.5%, with gains recorded across both entire-place and hotel-comparable listings. The CBOB also noted that broader monetary conditions remained supportive of economic growth during April. The report also notes that the country’s external reserves strengthened during the review period.

(Source: Trinidad Express)

• Crude oil production offshore Guyana averaged 903,000 barrels per day (b/d) in April 2026, a modest decline from 910,000 b/d in March, according to government data. Output from the four ExxonMobil-operated projects in the Stabroek Block totalled approximately 27 million barrels during the month, down from 28.2 million barrels in March.
• Despite a month-over-month decline, Guyana's crude oil production remained near record levels, exceeding 109 million barrels during the first four months of 2026 and averaging approximately 911,000 b/d, with April production distributed across Liza 1 (122,000 b/d), Liza 2 (259,000 b/d), Payara (261,000 b/d), and Yellowtail (262,000 b/d).
• The latest figures continue a gradual decline at the Liza 1 project, Guyana’s first offshore development, while the newer projects maintain output above their original nameplate capacities following optimisation work carried out by ExxonMobil.
• April’s average daily output was the lowest monthly average recorded so far this year. However, the broader trend remains one of sustained high production, supported by strong performance across the Stabroek Block’s newer developments. Elevated crude prices have also helped support revenue generation for Guyana. Oil markets have remained sensitive to geopolitical tensions in the Middle East, contributing to stronger prices and higher receipts from crude sales and royalties.
• Further production growth is expected before the end of the year. ExxonMobil is anticipated to undertake production optimisation work at the Yellowtail development, which could increase output from the project to approximately 290,000 b/d. The next major increase in national production is expected to come from the Uaru development, which is scheduled to begin production this year. The project is designed to add roughly 250,000 b/d of new capacity, pushing Guyana’s total oil production capability above the one million b/d threshold.
• All offshore oil production in Guyana currently comes from the Stabroek Block, where ExxonMobil serves as operator with a 45% interest. Its partners are Hess, now part of Chevron, with 30%, and CNOOC with 25%.

(Source: OilNow Guyana)

• The Office of the U.S. Trade Representative (USTR) has proposed additional tariffs of up to 12.5% on imports from 60 economies over their failure to ban goods made with forced labour, in a sweeping action that would hurt most trading partners, including China, the European Union and Japan.
• The determination, made under Section 301 of the Trade Act of 1974, found that all 60 countries have failed to impose or effectively enforce a prohibition on forced labour-related imports, creating what it called an “unlevel playing field” for American workers. USTR has proposed a 10% duty rate for economies that have adopted a full or partial prohibition on forced labour trade, and 12.5% for all other economies.
• The trade authority also proposed a separate textile mechanism that would allow for a certain volume of apparel and textile imports from some economies to enter the U.S. at reduced rates. Written comments for the proposal are due by July 6, with public hearings scheduled on July 7, according to the notice.
• An EU spokesperson described the reasoning behind the latest barrage of U.S. tariffs as “unjustified.” “On the EU side, we are on track to ensure implementation of our Joint Statement tariff commitments by the end of June,” they added in comments reported by Reuters.
• While the Supreme Court setback helped slow down the tariff timeline, it has not “de-fanged” the president’s agenda, said Nick Marro, principal at Economist Intelligence Unit, who expects the Trump administration to unleash further investigations and tariff announcements in preparation for renewed rounds of trade talks. The impact of proposed tariffs will, however, likely be softened by significant exemptions on goods including electronics and artificial intelligence-related products, Marro added.
• While the tariff rates may be further adjusted, any meaningful changes will reshape global supply chains by creating different economic incentives for firms, said Deborah Elms, head of trade policy at the Hinrich Foundation.
• Separately, the U.S. government also started seeking public comments Wednesday on the scope of a new U.S.-China Board of Trade — agreed by the two sides during a bilateral summit last month — which would lead to reduced tariff rates on each other’s goods. The government has also sought public opinion on non-sensitive sectors that could benefit from tariff modifications on both sides.

(Source: CNBC)

• Iran struck Kuwait International Airport early Wednesday, killing one person and injuring others, Kuwait’s Ministry of Foreign Affairs said. The attack – which Iran’s Islamic Revolutionary Guard Corps reportedly denied responsibility for – is the latest blow to an already weakened ceasefire that has been repeatedly undermined by military action as the war enters its fourth month.
• President Donald Trump declined to say directly whether the ceasefire still held when asked at the White House on Wednesday, noting only that the U.S. “hit them pretty hard” the night before. “A ceasefire there is much different than a ceasefire in other parts of the world,” he added.
• S. Central Command said it defeated multiple Iranian ballistic missiles and drones and launched “self-defense strikes” on Qeshm Island in the Persian Gulf in response to attempted attacks by Tehran. Two missiles fired at Kuwait fell short or broke apart en route, and three aimed at Bahrain were intercepted, while the U.S. also downed three attack drones launched toward civilian mariners – with no U.S. personnel harmed, CENTCOM said.
• The U.S. and Iran remain locked in a volatile stalemate, with peace efforts punctuated by public diplomatic disputes and military action. Tehran is reportedly reviewing a U.S. proposal to pause the war but has not communicated with Washington for several days, Iranian media reported.
• Iran said it would halt communication with the U.S. and move to completely block the Strait of Hormuz, in response to Israel’s military operations in Lebanon against the Iran-backed militia Hezbollah. Israeli Prime Minister Benjamin Netanyahu, speaking to CNBC, voiced optimism that alternate oil-transport routes were already being developed: “It’s already happening now.”
• Tensions have escalated across the region in recent weeks, with the IRGC striking the U.S. Fifth Fleet headquarters and targeting an Iranian tanker near the Strait of Hormuz, according to Reuters. Gulf governments reported drone attacks Wednesday as Kuwait’s air defences confronted “hostile missile and drone attacks” and Bahrain sounded warning sirens urging residents to seek shelter.

(Source: CNBC)

• Derrimon Trading Company Limited (DTL) has advised shareholders and the wider market that the release of its audited financial statements for the year ended December 31, 2025 (FY2025), will be delayed following the identification of matters requiring further review during the year-end audit process.
• The company disclosed that questions arose regarding information generated from its Enterprise Resource Planning (ERP) system, prompting its external auditors to engage specialists to conduct additional assessments. The review is aimed at evaluating the nature, scope, and potential implications of the issues identified before the audit is finalised.
• According to the company, the Board believes it is prudent to complete the review process before releasing the audited financial statements to ensure that all disclosures are accurate, reliable, and appropriately contextualised. As a result, management is working closely with the auditors to complete the necessary procedures and incorporate the findings into the final audit.
• Based on current expectations, Derrimon anticipates publishing its FY2025 audited financial statements by June 30, 2026. In the interim, the company reaffirmed its commitment to transparency, regulatory compliance, and timely communication with stakeholders. It also noted that its operations remain unaffected and that it continues to focus on serving its customers, suppliers, employees, shareholders, and other stakeholders while the review is being completed.
• At market close on Tuesday, June 2, 2026, Derrimon’s price was J$1.46, down 9.30% since the start of the year. At its current price, the company trades at a P/B of 1.31x, which is below the Junior Market Distribution Sector Average of 3.92x.

(Sources: JSE & NCBCM Research)

• The initial public offering (IPO) of Quantas Advantage Inc. closed on May 21, 2026, with strong investor demand resulting in the offer being oversubscribed, according to the company’s release on the Jamaica Stock Exchange (JSE) dated June 1, 2026.
• In response to the heightened interest, the company exercised its option to upsize the invitation, issuing an additional 46.77 million shares. This increased the total number of shares subscribed to 130.05 million and marks the first Main market IPO since Sygnus Real Estate Finance’s listing in October 2021.
• Total subscriptions received in both Jamaican and United States (U.S.) dollar tranches amounted to the equivalent of J$2.39Bn. As a result of the upsized offer, all applicants received 100% of the shares for which they applied.
• The successful completion of the IPO represents a significant milestone for Quantas Advantage Inc. and reflects continued appetite among investors for new equity offerings in the local market.
• The general public was initially offered 21,875,000 shares at a price of US$0.12 (J$19.3941) per share, while institutional investors were offered a preferential price of US$0.1140 (J$18.4244). Based on Quantas’ audited shareholders' equity of approximately US$19.05Mn at June 30, 2025, and its pre-IPO issued share capital of roughly 160.0 million shares, the company had a book value per share of about US$0.119. The general public IPO price, therefore, implies a Price-to-Book (P/B) ratio of 1.01x.
• Quantas is set to expand its investment portfolio through the acquisition of additional structured finance and securitised assets using the proceeds from the issuance, while a portion will be allocated to cover IPO-related expenses, which are estimated at no more than US$900,000.

(Sources: JSE & NCBCM Research)