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January 27th - European car sales are projected to grow for the third consecutive year in 2025, driven by consumers opting for more affordable electric and hybrid models. Data released Tuesday by the European Automobile Manufacturers Association (EASA) shows that European car sales rose 7.6% in December, marking the sixth consecutive month of growth and pushing total new car registrations up 2.4% to 13.3 million units for the year. While this is good news for the automotive industry, which has been struggling with tariffs and increased competition, sales are still about 15% lower than pre-pandemic levels. The overall growth was partly driven by a rebound in electric vehicle sales last year. Data shows that pure electric vehicle registrations surged 30%, accounting for about one-fifth of the overall market share. In the first half of 2025, consumers were hesitant due to market turmoil and economic uncertainty caused by Trumps tariff policies, only returning to the market in the second half as registrations continued to recover. Analyst Gillian Davis predicts that European car sales may climb again this year, thanks to a new round of subsidies and the launch of several new-generation models.January 27th - According to the Financial Times, sources revealed that the Trump administration has indicated to Ukraine that its security guarantees will be contingent on Ukraine first agreeing to a peace agreement, which could potentially involve ceding the Donbas region to Russia. Two sources stated that the US has also hinted that if Ukraine agrees to withdraw its troops from the eastern regions it controls (as a price for peace with Russia), the US will commit to providing Ukraine with more weapons to bolster its peacetime military capabilities. Ukrainian President Zelenskyy had hoped to sign a document with the US as early as this month regarding security guarantees and a post-war "prosperity plan," giving Kyiv leverage in future negotiations with Moscow. However, the current US signals indicate that its security commitments depend on a compromise with Russia. Ukrainian and European officials believe this US stance is an attempt to coerce Kyiv into accepting painful territorial concessions demanded by Moscow in any agreement.According to the Financial Times, British politicians are calling for a competition review of Netflixs (NFLX.O) acquisition of Warner Bros.The Russian Ministry of Defense stated that since the beginning of January, troops have captured 17 settlements in Ukraine.According to the Financial Times, the United States is linking security guarantees in Ukraine to a peace agreement that would cede territory.

Nasdaq-listed 26 Capital Will Seek A $2.5 Billion SPAC Transaction With A Casino in Manila

Haiden Holmes

Jun 16, 2022 10:50

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Wednesday, the CEO of 26 Capital Acquisition Corp said that the company remained dedicated to its $2.5 billion acquisition of the Philippines' largest integrated casino-resort, despite a control dispute involving the present owners.


Okada Manila, a 44-hectare (108-acre) property owned by companies of Japan's Universal Entertainment Corp, decided in October to combine with 26 Capital and go public in the United States.


However, the transaction has been involved in a protracted battle between Universal and its former chairman and founder, Kazuo Okada.


This conflict took a dramatic turn on May 31, when Okada's Filipino partners, aided by private security guards and local police, gained physical possession of the $3.3 billion casino in the Philippine capital.


"I anticipate Universal will regain control of Okada Manila in the near future," Jason Ader, chairman and chief executive officer of Nasdaq-listed 26 Capital, told Reuters. Both sides want to finalize the deal.


After the Philippine Supreme Court declared in April that Okada should be reinstalled as chairman of the casino's owner and operator, the casino was seized.


Tiger Resorts, the domestic subsidiary of Universal, has challenged the verdict and what it called a "illegal and brutal" acquisition.


A U.S. listing would provide Okada Manila with access to a variety of finances, clients, and lenders, according to Ader, who added that investors believe the Philippines has the potential to become one of the world's top gaming markets.


In a statement, Vincent Lim, a spokesman for Okada Manila's current administration, denied any violent takeover and said that since Okada's return, hotel occupancy rates and casino gaming activity had increased. "His reappearance has restored and revitalized consumer and shareholder trust."


The Philippines' casino industry has begun to recover from the epidemic, with total gaming revenues increasing 14 percent to 113 billion pesos ($2.12 billion) in 2021, albeit still below the record-breaking 256 billion pesos in 2019.


In contrast, Macau, the largest gambling hotspot in the world, continues to suffer under Beijing's "zero-COVID" policy.


Okada was removed from the boards of Universal and its Philippine subsidiary in 2017 on suspicion of misappropriating corporate cash, which he denies.


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