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UnitedHealth Group (UNH.N): It expects to repurchase at least $2 billion of its common stock by the end of the second quarter.UnitedHealth Group (UNH.N) reported first-quarter revenue of $111.7 billion, exceeding market expectations of $109.57 billion. Adjusted earnings per share for the first quarter were $7.23, below market expectations of $6.57. The company projects full-year adjusted earnings per share to be above $18.25, compared to market expectations of $17.86.On April 21, to promote the development of a multi-tiered bond market, strengthen macro-prudential management of the financial market, and enrich interest rate risk management tools for market participants, the National Association of Financial Market Institutional Investors (NAFMII) convened a meeting on April 16, 2026, to advance the development of the floating-rate bond market. NAFMII Deputy Secretary-General Bao Xiangming attended and addressed the meeting. Relevant officials from the Financial Markets Department of the Peoples Bank of China (PBOC) provided guidance. Representatives from over 20 institutions, including the China Foreign Exchange Trading Center (CFETS), the Shanghai Clearing House, issuers, investors, valuation agencies, and intermediaries, participated in the meeting. Going forward, under the guidance of the PBOC, NAFMII will work diligently and persistently to organize market members to continuously promote the development of the floating-rate bond market. It will encourage lead underwriters and other market participants to actively participate in the underwriting, issuance, investment, trading, and promotion of floating-rate bonds, jointly creating a favorable market ecosystem, helping to smooth the micro-circulation of interest rate marketization, and contributing the strength of the interbank market to accelerating the construction of a strong financial nation.According to Ukrainian reports, the Ukrainian Security Service has cracked down on the Russian Samara oil facility, which produces Urals crude oil for export.Russian Defense Ministry: Russian troops have captured Khrishinny in the Donetsk region of Ukraine.

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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