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☆ Vietnamese EV maker VinFast gets go ahead for Nasdaq SPAC listing
▼ + stars: | 2023-08-10 | by ( Phuong Nguyen | ) www.reuters.com time to read: +3 min

Shareholders of Hong Kong-based Black Spade Acquisition (BSAQ.A), a blank-check company, voted on Thursday to approve the merger with VinFast. VinFast, in a joint statement with Black Spade, said it would list on the Nasdaq under the ticker symbol VFS "on or around August 15". It leaves VinFast's existing shareholders, including parent company Vingroup and Vuong, Vietnam's richest man, with 99% of shares in the company. "The voting results today are a vote of confidence in VinFast from Black Spade shareholders," VinFast's global head Thuy Le said in the statement. Black Spade was founded by the private investment arm of Lawrence Ho, son of the late gambling mogul Stanley Ho.

Persons: Mike Blake, VinFast, Black Spade, Pham Nhat Vuong, Thuy Le, Nikola Corp, EVs, VinFast's, Vuong, Lawrence Ho, Stanley Ho, Phuong Nguyen, Kirsten Donovan, Susan Fenton Organizations: Los Angeles Auto, REUTERS, U.S, Nasdaq, of Hong, VinFast, Black, Black Spade, Faraday, Nikola, Vingroup, Tesla, Thomson Locations: Los Angeles , California, U.S, HANOI, of Hong Kong, VinFast, North Carolina, Black, United States, Haiphong, Vietnam

☆ Second Alzheimer’s drug to slow disease’s progression may be approved in the US this year
▼ + stars: | 2023-07-17 | by ( Meg Tirrell | ) edition.cnn.com time to read: +12 min

It was shown in May and in fuller Phase 3 clinical trial results released at the Alzheimer’s Association International Conference on Monday to delay the disease’s progression. More than 6 million Americans are estimated to have Alzheimer’s disease, with about 1 million estimated to be in the early symptomatic stages where these drugs have shown benefit. Both Leqembi and donanemab work by clearing buildups of a protein in the brain called amyloid, a hallmark of Alzheimer’s. It’s been a hypothesis that treating Alzheimer’s earlier with amyloid-clearing drugs would yield better results; Skovronsky said the donanemab trial bore that out. “We could look at people who had mild cognitive impairment, MCI, which is the earliest stage, versus mild Alzheimer’s versus moderate Alzheimer’s,” Skovronsky explained.

Persons: Leqembi, Eli Lilly’s donanemab, Lilly, “ Donanemab, Jennifer Manly, Kacie, ”, Dr, Gil Rabinovici, Renaud La Joie, Daniel Skovronsky, “, Skovronsky, ” Skovronsky, It’s, Eric Widera, Sharon Brangman, University of Wisconsin’s Dr, Nathaniel Chin, Donanemab, Lilly hasn’t, Lawrence Honig, Honig, White, Sanjay Gupta, Deters, ” Lilly, it’s “, it’s, there’s, Joe Montminy Organizations: CNN, Alzheimer’s Association, Food and Drug Administration, American Medical Association, Columbia University Irving Medical Center, University of California, MCI, SUNY, University of Wisconsin’s, Leqembi, FDA, donanemab, CNN Health, ” Manly Locations: Los Angeles, “

☆ Casino operator Melco eyes new markets with Cyprus resort launch
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

[1/4] Lawrence Ho, Chief Executive Officer and Chairman of Melco Resorts and Entertainment, speaks during a press conference at the City of Dreams Mediterranean, Europe's first integrated resort, outside Limassol, Cyprus July 11, 2023. REUTERS/Yiannis KourtoglouLIMASSOL, Cyprus July 11 (Reuters) - Asian casino operator Melco Resorts & Entertainment has launched an entertainment and gaming complex in Cyprus, marking its first foray into Europe as it seeks to tap new markets. The "City of Dreams Mediterranean" had total investment of more than 600 million euros ($659.46 million) making it one of the largest development projects of its kind undertaken in Cyprus. "City of Dreams Mediterranean ..allows Cyprus to unlock new markets in the region and beyond," said Lawrence Ho, chairman and CEO of Melco. Ho said Melco was now focused on fully developing the Cyprus project before considering whether to fan out to the rest of Europe.

Persons: Lawrence Ho, Ho, Melco, Michele Kambas, Sharon Singleton Organizations: Melco Resorts, Entertainment, REUTERS, Kourtoglou, Reuters, FIFA, Thomson Locations: Limassol, Cyprus, Kourtoglou LIMASSOL, Europe, Macau, Manila, Philippines, Israel, North Africa

CNN —The US Food and Drug Administration is expected to decide on Thursday whether to grant traditional approval to the Alzheimer’s drug Leqembi, the first medicine proven to slow the course of the memory-robbing disease. Leqembi, from drugmakers Eisai and Biogen, received accelerated approval in January based on evidence that it clears amyloid plaque buildups in the brain that are associated with Alzheimer’s disease. But because of an earlier coverage decision by CMS, which provides insurance coverage for many elderly patients with Alzheimer’s through Medicare, the drug hasn’t been widely used. People with more advanced forms of the disease may not benefit from the drug, he said, and may face increased safety risks. Broad Medicare coverage of Leqembi and similar types of medications to slow the progression of Alzheimer’s disease would probably have a big impact on the program’s spending.

Persons: drugmakers, hasn’t, “, ’ ”, Joe Montminy, Lawrence Honig, “ It’s, ”, Honig, it’s, Leqembi, ” Honig, Georges Naasan, Sue Rottura, ” Drugmaker Eisai, “ You’re, Ivan Cheung, Eisai, ” Montminy, Dr, Sanjay Gupta Organizations: CNN, Food and Drug Administration, Medicare, Services, CMS, Columbia University Irving Medical Center, Alzheimer’s, Behavioral, CNN Health, Kaiser Family Foundation Locations: Mount, Florida

☆ Vietnam’s Tesla debuts with wrong kind of power
▼ + stars: | 2023-05-15 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

Vietnam’s richest man is taking his electric-vehicle company, VinFast, public at a punchy valuation through a merger with casino mogul Lawrence Ho’s special-purpose acquisition company. The tie-up with Black Spade Acquisition Co (BSAQ.N) means VinFast doesn’t have to wait for the market for initial public offerings to improve to make its debut. The SPAC deal values VinFast at 42 times its sales in 2022, a stunning seven times Tesla’s (TSLA.O) multiple and more than twice the multiple of Lucid (LCID.O). But despite the big eye-catching U.S. debut, existing investors will own 99% of the company after the deal. The merger values the Tesla challenger’s equity at $23 billion, not including the $169 million of Black Spade’s cash, and its enterprise including debt at about $27 billion.

☆ Vietnam EV maker VinFast to list in U.S. via a SPAC
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +2 min

Vietnamese electric automaker VinFast said on Friday it will list in the United States via a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co . The company has said it has almost 55,000 orders globally and is able to churn out 300,000 EVs per year. Black Spade Acquisition is a Hong Kong-based SPAC which listed on the NYSE in July 2021 with a plan to merge, within two years, with a company ideally in the entertainment business, according to its website. It was founded by Black Spade Capital Limited, the private investment arm of Lawrence Ho, the head of Melco Resorts & Entertainment Ltd, which operates casinos in Macau and the Philippines, according to the company's website and Refinitiv. "The partnership with Black Spade and listing of VinFast in the U.S. represents the perfect capital raising avenue for our future global ambitions," Thuy Le, VinFast's global chief executive, said.

☆ What it’s like to be a theme park designer
▼ + stars: | 2023-04-21 | by ( Kate Springer | ) edition.cnn.com time to read: +10 min

“Back then, it definitely wasn’t cool to be into theme parks, but I was obsessed,” Jeffs, 39, tells CNN. Jeffs points to the immersive “Pacific Rim: Shatterdome Strike” ride at Trans Studio Cibubur, part of Indonesia’s largest theme park chain, as an example. “When I was growing up, theme park design was often dismissed as a rinky-dink, second-class artistic discipline simply because it was rarely well done. “That first summer, we drove 10,000 miles and hit up virtually any theme park that had managed to re-open,” he says. Courtesy Taylor JeffsAnd though he’s ridden over 600 roller coasters and explored theme parks worldwide, Disneyland in California remains his all-time favorite park.

☆ Macau's 6 casino operators get new licences, Malaysia's Genting out
▼ + stars: | 2022-11-26 | by ( ) www.reuters.com time to read: +2 min

Nov 26 (Reuters) - Macau's government said on Saturday its six incumbent casino operators would be given new licences to operate in the world's biggest gambling hub from January, with Malaysian operator Genting missing out on a spot. The highly anticipated announcement signals stability and continuity for the Macau operators who have invested more than $50 billion in the Chinese special administrative region in the past 20 years. Officials in Macau, the world's biggest casino hub, told a news briefing the main considerations for granting licences included ensuring local employment, developing overseas tourist markets and developing non-gaming projects. Sands China (1928.HK), Wynn Macau (WYNN.O), Galaxy Entertainment (0027.HK), MGM China (2282.HK), Melco Resorts (MPEy.F), and SJM Holdings (0880.HK), have operated in the Chinese special administrative region since 2002. "We are committed to Macau and its development as Asia's premier tourist destination," Lawrence Ho, chairman and chief executive of Melco, said in a statement.

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