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Think tank: SMGPH faces liquidity crunch
The declining profitability of San Miguel Corporation’s energy unit San Miguel Global Power Holdings Corp. has affected the capability of the company to meet near-term financial obligations, according to a report of the Institute for Energy Economics and Financial Analysis, or IEEFA. Local groups held a forum on Wednesday ahead of the 133rd anniversary of the Adian conglomerate that focused on the “losing strategy” of maintaining its dependence imported fossil fuel with its planned shift from traditional coal to liquefied natural gas, or LNG. Think tank Center for Energy, Ecology and Development indicated during the event that SMGPH is implementing “a losing strategy that is having devastating consequences on shareholders and investors, energy consumers, and the environment.” “While SMC is pursuing the country’s further dependence on fossil fuel, it is also losing on the actual energy transition development. SMC had lost in the race to secure new permits for renewable energy capacity, which will be built in the next two to three years,” Gerry Arances, CEED executive director, said. Sam Reynolds, author of an Institute for Energy Economics and Financial Analysis, or IEEFA, report titled San Miguel Global Power: Fossil fuel-oriented growth strategy raises financial red flags, said the article detailed the financial issues SMC faces because of its reliance on coal and gas. IEEFA is a Detroit-based advisory group for energy industry strategies. He warned the company’s overexposure to volatile fossil fuel prices could sink its financial health and that “SMGPH’s overreliance on fossil fuels has weakened its financial health — moving from coal to LNG is not going to solve the fundamental problem of overexposure to fossil fuel prices.” SMGPH debts are falling due between 2024 and 2026, according to the study. The company’s financial position would likely remain inadequate to address the callable perpetual securities, amounting to $3.4 billion (P193 billion). “SMGPH could face a double-edged sword. On one hand, the need to redeem perpetual securities demands additional capital or funding. On the other, opting not to exercise the call option subjects the company to additional financial costs, further straining its financial position,” according to IEEFA. No contract to back up projects “This is especially true when you consider the company’s lack of contracts for its existing and proposed LNG facilities,” he added. SMC’s status as one of the country’s biggest conglomerates entails that the company should be among those leading the transition away from fossil fuels, Reynolds added. Reynolds also doubts the company will be able to fulfill the 2050 net zero commitment it unveiled earlier this year. “Unless there is a major, material pivot within the company to transition to renewables and phase out its fossil fuel expansion plans, the company is going to have very little chance of achieving its 2050 net zero target. Without a strategic, material, immediate pivot, that goal is simply unrealistic,” he said. Liquidity crunch possible As a result of SMGPH’s declining profitability, IEEFA’s analysis indicated that its ability to cover near-term financial commitments in the form of debt, interest and capital distribution for perpetual securities may have worsened considerably. This points to an overall liquidity crunch, which could translate to a longer-term funding shortfall if not carefully managed. IEEFA indicated that its view “aligns with conclusions from Bloomberg Intelligence, which stated that the company may need $900 million (P51 billion) by the end of this year to meet its financial commitments. “SMGPH’s funding constraints also depend on its ability to extend P21 billion worth of short-term loans. There is also a possibility of obtaining local funding due to its connection to parent company SMC,” IEEFA indicated. Its financial SMGPH’s perpetual securities come with a notable feature: a step-up interest mechanism. If the call option on the security is not exercised, the interest rate increases by a certain percentage each year. SMGPH has strategically tapped into the issuance of bonds and loans to fund its expansion plans, increasing its total debt. Total equity has also grown, driven largely by the company’s issuance of perpetual securities. The paper added that a broader assessment, beyond operating cash flows, reveals a rising liquidity risk for SMGPH. It measured the SMGPH’s cash flow from operations (CFO)-to-current liabilities ratio, the results of which pointed a “concerning trend.” The ratio has been on a downward trajectory since 2019. In 2022, the CFO-to-current liabilities ratio plummeted to an all-time low of -0.12, indicating insufficient cash flow to cover short-term liabilities. The same ratio remained weak in the first half. Its ratio in 2022 was 1.00, down from 1.43 in 2021, meaning the company has exactly one dollar of current assets for every dollar of current liabilities. “In essence, the company holds a relatively tight margin of assets available to cover its immediate financial obligations. Meanwhile, the accounts receivable turnover ratio stood at 3.15, marking its lowest value since 2016.” The post Think tank: SMGPH faces liquidity crunch appeared first on Daily Tribune......»»
Strike deal only first step in resolving film industry crisis
A tentative deal to end a long-running writers' strike that has paralyzed Hollywood is only a first step in resolving a film industry crisis, as an equally bitter studio stand-off with the actors' union stretches on. The Writers Guild of America, which walked out back in May over demands including better pay and safeguards against the use of artificial intelligence, finally thrashed out a deal with studios including Netflix and Disney on Sunday night. Ratification of that agreement -- first by the WGA board, then by its 11,500 members -- is widely expected to be waved through without any obstacles in the coming weeks. Picketing for writers has been suspended and the guild has indicated that it could allow members to return to work even before the final vote is counted. Late-night TV shows could return to air "within the next two to three weeks," according to Variety, citing industry insiders. But a far thornier issue is the still ongoing strike by Hollywood actors, represented by the SAG-AFTRA union, which is likely to take weeks to resolve and will prevent any return to production in the immediate future. Even after that, with hundreds of film and television shoots backed up, it could take months for Hollywood to clear the logistical logjam and get fully back to work. "There are presumably upwards of 1,500 productions that all want to start as soon as they can," said entertainment lawyer Jonathan Handel. "And so when SAG gives the word, they're all going to be competing simultaneously... it's absolute chaos. "I don't think we're going to see normalcy in the production process until sometime after January or February." 'Huge roadblock' The WGA's deal with studios achieved compromises on minimum wage increases, bonus payments for writers participating in hit shows, and guarantees that scripts using AI will not undercut human writers and their paychecks. Many of these issues overlap with the actors' demands, and SAG-AFTRA negotiators will be poring over the fine details this week, ahead of their own talks with studios. But, Handel warned, many SAG-AFTRA demands go further than those of the writers. These include steeper pay rises to counter rampant inflation, and an actual share of revenue for hit streaming shows. Studios will be wary that whatever they offer to actors is likely to be demanded by other Hollywood professions such as movie set crews and technicians, who have their own contract renewals due next year. "I think basic wages going are going to be a huge roadblock towards the SAG deal in the next few weeks, because of pattern bargaining," said Handel. SAG-AFTRA also has its own specific demands, such as restrictions on the use of remote, self-taped auditions, which became ubiquitous during the pandemic but are disliked by many actors. 'Fool's assumption' Still, Sunday's deal means SAG-AFTRA negotiators could meet with unions as soon as next week, for the first time since actors went on strike in July. "The end of the WGA strike will hasten the end of SAG-AFTRA's walkout," predicted Variety. But even "if things go smoothly -- which is a fool's assumption -- I still think it would take two to three weeks to get a SAG deal done... which takes you into October," said Handel. "Then there's the ratification process, which takes another month." That means the clock is ticking for actors to be able to promote big year-end movie releases, such as Disney's superhero sequel "The Marvels." And publicists are desperate for their stars to start campaigning for some of the industry's biggest events -- television's Emmy Awards, and the film industry's Oscars, which take place in January and March respectively. The post Strike deal only first step in resolving film industry crisis appeared first on Daily Tribune......»»
UN chief convenes ‘no nonsense’ climate summit, without China or US
UN Secretary-General Antonio Guterres is set Wednesday to host a climate meeting marred at its outset by the absence of speakers from the world's top two emitters, China and the United States. Despite increasing extreme weather events and record-shattering global temperatures, greenhouse gas emissions continue to rise and fossil fuel companies reap handsome profits. Guterres has thus billed the "Climate Ambition Summit" as a "no nonsense" forum where leaders or cabinet ministers will announce specific actions that deliver on their commitments under the Paris Agreement. The bar for making the podium was set high, with the UN chief making clear that only leaders who had made concrete plans to achieve net-zero greenhouse emissions would be allowed to speak. After receiving more than 100 applications to take part, the UN finally released a list on Tuesday night of 41 speakers which did not include China, the United States, the United Kingdom, Japan or India. "Tomorrow, I will welcome credible first movers and doers to our Climate Ambition Summit," Guterres said Tuesday. Several major leaders didn't bother making the trip to New York for this year's UN General Assembly, including President Xi Jinping of China and Prime Minister Rishi Sunak from the United Kingdom, who said he was too busy. US President Joe Biden, who addressed the General Assembly on Tuesday, sent his climate envoy John Kerry to the meeting -- though Kerry won't be permitted to speak. "There's no doubt that the absence of so many leaders from the world's biggest economies and emitters will clearly have an impact on the outcomes of the summit," Alden Meyer of climate think tank E3G said. He blamed competing issues -- from the Ukraine conflict to US-China tensions and rising economic uncertainty. "But I think it's also the opposition in many of these countries from the fossil fuel industry and other powerful interests to the kind of transformational changes that are needed," said Meyer. Catherine Abreu, executive director of nonprofit Destination Zero, said it was "perhaps a good-news story that we see Biden not being given a speaking slot at the summit" because the United States is continuing to expand fossil fuel projects even as it makes historic investments in renewables. "I think about this as being a correction from past summits, where leaders have been given the opportunity to take credit for climate leadership on the global stage, while they continue to pursue plans to develop fossil fuels, and continue driving the climate crisis back at home," she added. While the United States won't take the rostrum, California will be represented by Governor Gavin Newsom. From Britain, London Mayor Sadiq Khan will also attend. Growing anger The event is the biggest climate summit in New York since 2019, when Greta Thunberg stunned the world with her "How Dare You" speech before the UN. Anger is building among climate activists, particularly younger people, who turned out in thousands last weekend for the "March to End Fossil Fuels" in New York. Observers are eager however to see what Canadian Prime Minister Justin Trudeau and European Union President Ursula von der Leyen say both on their own goals and on financing commitments for the developing world. The failure of advanced economies, responsible for the majority of historic emissions, to honor their promises to the worst affected lower-income nations has long been a sore point in climate talks. There are some bright spots, including the announcement that Colombia and Panama are joining a grouping called the Powering Past Coal Alliance -- particularly notable as Colombia is the world's sixth biggest coal exporter. Wednesday's summit comes weeks ahead of the COP28 climate talks in the United Arab Emirates, where goals include tripling renewable energy by 2030, and ending by 2050 the generation of fossil fuel energy that isn't "abated" by carbon capture technology. The post UN chief convenes ‘no nonsense’ climate summit, without China or US appeared first on Daily Tribune......»»
Gauff defeats Sabalenka to win US Open crown
American teenager Coco Gauff came from behind to win the US Open on Saturday, clinching her first Grand Slam title with a battling win over Aryna Sabalenka of Belarus. Gauff, 19, produced a gutsy performance on the Arthur Ashe Stadium court to win 2-6, 6-3, 6-2 in 2hr 6min to complete a fairytale transformation in her season's fortunes. The sixth seed from Florida had gone into the final as the underdog against the hard-hitting second seed Sabalenka, who will become world number one in next week's rankings. But with both players making a slew of mistakes throughout an error-strewn final watched by a record crowd of 28,143 it was Gauff who held her nerve when it mattered to seal a deserved victory. The win completed a remarkable turnaround for Gauff, who was left distraught after a first round exit at Wimbledon in July. However she bounced back to win titles in Washington and Cincinnati and has now landed the biggest win of her career, after a shattering loss at the French Open last year. "It means so much to me," an elated Gauff said afterwards. "I feel like I'm a little bit in shock in this moment. "That French Open loss (last year) was a heartbreak for me. That makes this moment even sweeter than I could imagine." Gauff, the third American teenager to win the US Open after Tracy Austin and Serena Williams, also used her victory speech to thank those who doubted her talent. "Honestly thank you to the people who didn't believe in me," she joked. "To those who thought they were putting water on my fire, they were putting gas on my fire and I'm burning so bright right now." - First set struggle - Gauff was in trouble in the opening game, Sabalenka breaking her straight away with a rasping backhand that drew a roar of "Come On!" from the Belarusian. She held easily to take a 2-0 lead but Gauff then took advantage of a shaky service game from Sabalenka to break at 2-2 in the fourth. The Belarusian double-faulted twice to allow Gauff to get back on level terms. But that hard-won parity was surrendered in the next game as Sabalenka broke back to go 3-2 ahead. Sabalenka then wobbled on her own serve once more as Gauff eked out two break points in the sixth game. But Sabalenka got it back to deuce with an ace and then took a 4-2 lead with an emphatic smash. Gauff's problems on serve continued and Sabalenka broke for the third time to race 5-2 ahead, and she duly wrapped up the set by holding in the next game. Yet with the match threatening to become a rout, Gauff finally clicked into gear in the second set, making fewer unforced errors and ironing out the kinks in her serve. Instead it was Sabalenka who began to show signs of brittleness as the tension mounted. She double-faulted to hand Gauff the only break of the set and a 3-1 lead. Gauff fended off a break point in the next game to hold for 4-1 and went on to hold for the remainder of the set to level the match when Sabalenka smacked a forehand long. The momentum remained firmly with Gauff in the final set and she secured another crucial break in the opening game when she put away an underhit Sabalenka lob with a smash. Gauff then held easily for a 2-0 lead as Sabalenka struggled to regain any semblance of composure. She coughed up four unforced errors to gift Gauff a break and a 3-0 lead, and the American then held with ease to go 4-0 up. Sabalenka stopped the rot by holding serve in the fifth game, before taking a medical timeout to receive treatment on her left thigh. Gauff was in no mood to let her grip on the match slip though. Although Sabalenka held and broke Gauff to cut the lead to 4-2, Gauff hit back when Sabalenka double-faulted to present a break point. Gauff cashed in to break and grab a 5-2 lead and then swept to victory in the next game, holding to love with a backhand winner. rcw/mw © Agence France-Presse The post Gauff defeats Sabalenka to win US Open crown appeared first on Daily Tribune......»»
Handwritten letters a lifeline in war-devastated Darfur
With no cell service or phone calls, people in Sudan's war-ravaged western region of Darfur are resorting to a bygone means of communication: handwritten letters, carried by taxi drivers. Ahmed Issa, 25, sits on a plastic chair in a roadside cafe, penning a message to relatives he left behind in Nyala, the capital of South Darfur state. In the safety of El Daein, 150 kilometers (93 miles) southeast, he told AFP the letters are often the only way to get news in and out of his hometown, the second-biggest city in Sudan and the site of brutal battles between the regular army and the paramilitary Rapid Support Forces. "Even at the start of the fighting, it was hard to get in touch with people in other neighborhoods inside Nyala," he said, nearly five months after the war began. The situation has only grown worse since, with horrific violence reported across Darfur, a region the size of France that is home to around a quarter of Sudan's 48 million people. They remember all too painfully the years-long war and atrocities that began in 2003. Hundreds of thousands were killed and more than two million displaced after the government of Omar al-Bashir unleashed the Janjaweed militia in response to a rebel uprising. Hunched forward in a black patterned shirt and a neat crew cut, Issa carefully folds his letter over and over. "You wait a week for the letter to arrive, and you don't know for sure if they'll get it," he told AFP. "And if they do, there's no guarantee they can send one back" through the treacherous roads in and out of Nyala. Three months ago, the West Darfur state capital of El Geneina seemed to be the nucleus of the fighting, becoming a symbol of the return of ethnic violence in Darfur. Western countries and the UN linked the violence to the RSF and its allies. It triggered the International Criminal Court to open a new investigation into alleged war crimes. Now Nyala is the centre of clashes between the army and the RSF. On one day last week 39 civilians, most of them women and children, were killed when shelling hit their homes in Nyala, medics and witnesses said. Over 10 days in August, more than 50,000 people fled Nyala's violence, according to the United Nations. Water and electricity networks quickly failed, compounding threats in a city where one in four people already needed humanitarian aid before the war, the UN said. The messenger Residents on Sunday looked up to see a new escalation of the violence: Air Force fighter jets -- whose strikes have been largely limited to the capital Khartoum -- were flying overhead. Their bombs struck both RSF bases and the residential neighborhoods they inhabit, witnesses told AFP. People will do anything to make sure their loved ones are alright, according to human rights defender Ahmed Gouja, who left Nyala but is trying to inform the world of the gruesome violence unfolding. Last week, he reported on Twitter, which is being rebranded as X, that five entire families were "killed in one day". He himself spent 16 days "with no info" about his family in Nyala, before finally reaching "one of my brothers who arrived at El Daein, searching for an internet signal". "We die every moment that passes while we are deprived" of news of loved ones, he wrote. For weeks, Suleiman Mofaddal has seen families like Gouja's walk through his El Daein office, a small room with yellow walls, anxious for news of those who cannot or refuse to leave their homes in Nyala. On his desk sits a pile of small, neatly folded paper rectangles, each with a name scrawled in blue ink. Some have a phone number, just in case the recipient gets cell service for even a moment. All wait to be handed to drivers on Mofaddal's team, who will carry the letters on their way to Nyala. "Most often, the recipient immediately writes a response and hands it back to the driver before he leaves," Mofaddal told AFP. Then the driver heads back out, hoping the road ahead won't be closed -- by either the bombs, militia checkpoints, or the downpours of Sudan's rainy season. The post Handwritten letters a lifeline in war-devastated Darfur appeared first on Daily Tribune......»»
Chinese carmakers confront European industry at Munich show
Chinese manufacturers will be out in force at next week's IAA auto show, one of the industry's biggest, revving their new electric models on the turf of German carmakers, which have been lagging in the e-mobility race. Elon Musk's Tesla, usually a hold-out from such events, will also make an appearance at the show in Munich, joining the jostle to steal the spotlight from Europe's biggest brands. The industry fair, which opens Tuesday with a speech from Chancellor Olaf Scholz, comes with clouds gathering for the automotive sector in Europe and in particular, Germany. While suffocating supply chain problems have eased from the pandemic years, European auto giants are struggling to cope with increased energy costs in the wake of the Russian invasion of Ukraine last year. Although sales in the European Union have steadily improved over the last 12 months, they remain around 20 percent below their pre-coronavirus levels as inflation and higher interest rates dampen appetite for new vehicles. At the same time, European manufacturers are facing increasingly stiff competition from Chinese carmakers which are touting their vehicles at far lower prices. Local upstarts have captured an increasingly large part of the prized Chinese market and are threatening to dominate the growing trade in electric vehicles. Chinese groups were starting "their assault on Europe with the IAA", said industry analyst Ferdinand Dudenhoeffer from the Center Automotive Research in Germany. "The IAA 2023 maps out a new automobile world in Europe. Competition will be tougher. After the Chinese battery factories, their automobile makers are coming," he said, calling it a "turning point" for the industry. In all, 41 percent of exhibitors at the industry fair have their headquarters in China, including brands such as BYD and Leapmotor which will hope to steal the spotlight from German giants Volkswagen, BMW, and Mercedes-Benz. Contrary to the Asian onslaught, participation from other European makers is muted. Opel will be US-European conglomerate Stellantis's lone ambassador in Munich, while Renault is showcasing only its eponymous marque at the show. In contrast, Musk's Tesla was slowly falling in line with traditional manufacturers as "the brand that doesn't do marketing begins to do exactly that" with its first appearance at the IAA, said independent analyst Matthias Schmidt. - Petrol protest - Over the week, around 700,000 visitors are expected to attend the show, split between exhibition halls and the city center. The move away from combustion engines to electric vehicles -- and the bigger climate question -- will take center stage inside and outside the exhibition halls. As carmakers roll out their latest offerings, climate groups have vowed protests at the fair, including "civil disobedience" aimed at disrupting the IAA. The last edition of the show in 2021 was already troubled by small-scale protests. This time around, some 1,500 people are expected at a camp in a suburban Munich park promoting a "revolution in mobility". Car manufacturers were "destroying the lives of countless people worldwide with their growth imperative", one of the climate groups said ahead of the fair. Automotive groups have not helped their case recently by recording massive profits on the back of strong inflation. Manufacturers -- particularly those at the high end of the market -- have been able to benefit from rising prices to boost their margins. A growing climate consciousness movement is increasingly pitting environmental activists against carmakers. Mindful of society's changing views on automobiles, the IAA upped sticks from Frankfurt to Munich in 2021 and restyled itself as a festival for all forms of "mobility" -- bringing bikes and scooters into the fold. As well as cleaning up its image, the move was an attempt to reinvigorate traditional motor shows. The marquee events have struggled to attract manufacturers, who are doubtful that they create enough publicity to be worth the bother. In 2022, the Paris Motor Show saw visitor numbers dwindle, as it was cut in length from two weeks to one. Many big European names, such as Volkswagen, BMW, and Ferrari were absent from the French fair, to which Chinese carmakers like BYD by contrast turned up. The post Chinese carmakers confront European industry at Munich show appeared first on Daily Tribune......»»
Stocks waver on uncertain rate outlook
Concerns about further interest rate hikes weighed on stock markets Monday even as data pointed to economic fragility in the United States and Europe -- but Wall Street eked out gains to start the week. Investors were spooked Friday by US jobs data that showed moderate hiring but further wage increases, underscoring persistent inflation pressures. Many have been betting the Federal Reserve is near the end of its monetary tightening cycle as it seeks to engineer a "soft landing" for the world's largest economy -- a strategy also being pursued by the European Central Bank. This refers to an outcome where inflation comes down on the back of interest rate hikes, without triggering a major recession. But Fed governor Michelle Bowman doused those hopes in a speech on Saturday, saying "consistent evidence" was needed that price increases are slowing. "I also expect that additional rate increases will likely be needed to get inflation on a path down to the FOMC's two percent target," she said, referring to the policy-setting Federal Open Market Committee. Higher rates would increase the risk of broader economic slowdowns on both sides of the Atlantic. Bowman's comments underscored "the growing uncertainty that is not only starting to permeate central bank thinking but also investor sentiment more broadly", said Michael Hewson, chief market analyst at CMC Markets. As a result, investors are likely to take a wait-and-see stance ahead of US consumer price data due on Thursday. For now, all three major US indices advanced to end the day, with the Dow gaining 1.2 percent and the broad-based S&P 500 climbing 0.9 percent. The tech-focused Nasdaq rose 0.6 percent, although it was initially pulled off of opening gains. Apple shares lost 1.7 percent after the company warned of further revenue declines, while Tesla also stumbled on news that its longtime chief financial officer was leaving. "Traders are punishing a couple of the most highly-weighted 'Big Tech' behemoths like Apple and Tesla," said Matthew Weller, research chief at StoneX, noting a "mixed" second-quarter earnings season for US companies overall. European markets closed little changed, tracking Wall Street's weakness on Friday and a mixed showing in Asia amid signs of further economic headwinds. Germany's industrial output plunged in June, official figures showed, with the economy ministry warning of a gloomy outlook as high energy prices and interest rates continued to take their toll in Europe's biggest economy. In Britain, average UK property prices fell 0.3 percent in July from June, major mortgage provider Halifax said, as homeowners struggle with surging borrowing costs. "Early economic data has done little to help lift the outlook for growth in Europe," said Joshua Mahony, chief market analyst at Scope Markets. Elsewhere Monday, oil prices fell after a pre-weekend rally, in part reflecting supply concerns after a Russian oil tanker in the Black Sea was struck by Ukrainian drones. The Black Sea strikes increase geopolitical risks, according to analysts at DNB, noting the "significant volumes" of both crude oil and refined fuels transported via the Black Sea. The post Stocks waver on uncertain rate outlook appeared first on Daily Tribune......»»
Unstoppable Taylor Swift becomes first woman with 4 albums on U.S. Top 10 at once
Taylor Swift has become the first woman and only the third artist ever to have four albums in the Top 10 of the US Album chart at once. Swift’s latest album, Speak Now (Taylor’s Version), debuted impressively at the top of the Billboard 200 chart, selling an outstanding 716,000 album-equivalent units in its first week. This achievement not only makes it the highest-selling album of the year thus far, surpassing all other releases in 2023 but also marks the best-selling week for any album since her previous release, Midnights, in October 2022. In a rare feat, the Grammy-winning artist has made history with a series of chart-topping albums. With Lover at number seven, Folklore at number ten, Midnights at number five, and now Speak Now (Taylor’s Version) at number one, she has achieved an unparalleled feat that establishes her as a powerhouse in the music industry. This remarkable achievement makes Swift the first woman in history to have four albums in the Top 10 since the charts’ inception in 1963. It also makes her the first living act in nearly six decades to accomplish this feat, a record previously held by Herb Alpert with his albums Going Places, Whipped Cream & Other Delights, South of the Border, and The Lonely Bull. After Alpert’s passing in 2016, Prince left an indelible mark with five albums in the top 10: The Very Best of Prince, Purple Rain, The Hits/The B-Sides, Ultimate, and 1999. Alongside this exceptional achievement, the singer-songwriter has also earned her 12th number-one album with Speak Now (Taylor’s Version). She now holds the distinction of having the most number-one albums by a female performer, surpassing the previous record set by Barbra Streisand, who has 11 chart-topping albums to her name. Swift’s albums dominate the list of the top five biggest debuts in the past five years, claiming four out of the five spots. Adele’s highly anticipated 2021 album 30 lands in the fourth position, narrowly ahead of Speak Now (Taylor’s Version). With its release, Speak Now (Taylor’s Version) has not only achieved the distinction of being the biggest debut among the three re-recordings Swift has released thus far, but also marks another milestone in her campaign to re-record all of her albums originally produced under her former label, Big Machine. She now holds the distinction of having the most number-one albums by a female performer, surpassing the previous record set by Barbra Streisand, who has 11 chart-topping albums to her name. Following its release in late 2021, Red (Taylor’s Version) took second place with a debut of 605,000 units. Meanwhile, the initial release in the series, Fearless (Taylor’s Version), had a more modest debut with 291,000 units in early 2021, partly due to the unavailability of the highly sought -after the vinyl version at the time of its general release. Nonetheless, like the rest, it secured the top spot on the charts effortlessly. On 7 July, the American singer-songwriter released the remake version of her third studio album titled Speak Now (Taylor’s Version), which includes popular hits such as “Mine,” “Dear John,” “Back to December” and “Ours.” This release consists of 22 songs, including six tracks “From the Vault,” adding to the excitement surrounding the new album. The post Unstoppable Taylor Swift becomes first woman with 4 albums on U.S. Top 10 at once appeared first on Daily Tribune......»»
Pretty in pink: ‘Barbie’ marketing blitz hits fever pitch
Hollywood A-listers have been walking red carpets in hot pink, glitter is back, and companies from The Gap to Burger King are doing rose-colored collaborations: "Barbie" mania is everywhere as the hotly anticipated film hits theaters worldwide. Toy maker Mattel, who first unveiled the iconic doll in 1959, has reached about 100 licensing agreements for everything from roller skates to toothbrushes in connection to director Greta Gerwig's summer flick. Of course, Barbie is big in the beauty world too -- lipsticks, blushes and mirrors all bear the famous logo. "In the 30 years that I have been tracking and analyzing box offices and trends, I've never quite seen anything like this before," said Paul Dergarabedian, a senior media analyst at Comscore. "Barbie is tailor-made for marketing," he said. "It's perfect because Barbie is a toy, it's already a product, and beyond that, it's a lifestyle and a color." The movie, which stars Margot Robbie as Barbie and Ryan Gosling as boyfriend Ken, has been hyped as one of the biggest blockbusters of the season, with numerous premieres held around the globe ahead of Friday's debut in US theaters. Of course, that promotion blitz has been curtailed at the 11th hour, with Hollywood actors now on strike over pay and other conditions. But the list of corporate partners is sure to keep the buzz going. Microsoft, Forever 21, Ulta Beauty, Hot Wheels, Chevrolet and even Progressive insurance are among the companies looking to cash in on Barbie mania. The influential color company Pantone even has a shade to match the zeitgeist: 219C is officially Barbie Pink. Mattel has even reached a deal with rival toy giant Hasbro, which will release a Barbie version of the classic board game Monopoly in the fall. In exchange, Mattel will showcase "Transformers" on its Uno card game in connection with a Hasbro film release. 'Irresistible' Robbie has embraced Barbiecore fashion at premieres around the world, recreating some of the doll's most iconic looks, but the Barbie lifestyle trend is also full steam ahead Airbnb is offering up a stay at Barbie's "Malibu DreamHouse" for two nights in connection with the film's debut. "Placed perfectly above the beach with panoramic views, this life-size toy pink mansion is a dream come true!" reads the listing. Singer John Legend and his model wife Chrissy Teigen took the plunge, posting a series of pictures on Instagram of their stay at the hot pink property. The most ubiquitous shade of pink used on the Warner Bros film's set, a retro bubblegum hue made by Rosco, was used in such great quantities that the shoot has been blamed for a global shortage. "It's just become a very irresistible proposition," said Dergarabedian, crediting both Warner Bros and Mattel with ensuring the buzz had staying power. Dergarabedian expects a strong opening weekend for Barbie, with around $75 million in North American ticket sales. 'Barbenheimer' The film is opening in parallel with another big Hollywood entry, the Christopher Nolan-directed "Oppenheimer," a biopic about the father of the atomic bomb. The unlikely face-off between the dark historical thriller and a fuchsia-tinted romp about a doll has created online buzz about a phenomenon dubbed "Barbenheimer." Dergarabedian said the coincidental timing of the openings had contributed to "unprecedented" fodder about the films on social media and beyond. Both movies are opening on the heels of another big-screen blockbuster, "Mission: Impossible -- Dead Reckoning Part One," which led the domestic box office last weekend. A starry soundtrack includes tracks from Dua Lipa (who also appears in the film), Lizzo, and Nicki Minaj and Ice Spice, who recorded a cover of "Barbie Girl," a 1997 hit by Danish-Norwegian band Aqua. The original recording actually prompted a lengthy but unsuccessful trademark lawsuit by Mattel. The company subsequently embraced the song. The movie's arrival has also not been without controversy. Barbie has been banned in Vietnam over a scene with a fictitious world map criticized for allegedly showing China's claims in the disputed South China Sea. The Philippines allowed the film to be shown -- but asked that the map be blurred. The post Pretty in pink: ‘Barbie’ marketing blitz hits fever pitch appeared first on Daily Tribune......»»
US economy adds 209,000 new jobs as hiring slows
Hiring in the United States slowed in June, the Labor Department said Friday, providing a much-needed signal that the American economy is cooling ahead of another interest rate decision later this month. The figures came in below analysts' expectations, providing some respite for the US Federal Reserve as it mulls a return to interest rate hikes later this month to tackle inflation still well above its long-term target of two percent. The world's biggest economy added 209,000 jobs last month, down from a revised figure of 306,000 in May, the Labor Department said. Meanwhile, the unemployment rate edged down to 3.6 percent, remaining close to historic lows, underscoring the enduring strength of the labor market. The hiring figure came in below the median expectation of 240,000 new jobs in a survey of economists conducted by MarketWatch, while the unemployment rate was in line with predictions. All three major US stock indexes on Wall Street finished the day in the red amid growing expectations of additional interest rate hikes this year "It's a step in the right direction, but we're not near the level that we would need to see to be convinced that the labor market is significantly cooling down," Oxford Economics' lead US economist Oren Klachkin told AFP. Even with job growth easing, average hourly earnings ticked up by 0.4 percent month-over-month, rising by 4.4 percent on an annual basis. "The labor market is still very strong, wages are still rising at a very strong pace, unemployment is still very low, and nonfarm payrolls rose at a pace that is way above what the Fed wants," Klachkin said. Bidenomics in action US President Joe Biden hailed Friday's jobs report as evidence of "Bidenomics in action." "Our economy added more than 200,000 jobs last month -- for a total of 13.2 million jobs since I took office," he said in a White House statement. "That's more jobs added in two and a half years than any president has ever created in a four-year term," he added. June's new jobs came mainly from increases in employment in government, health care, social assistance, and construction, the Labor Department said. "The economy has proven remarkably resilient, with smaller businesses absorbing layoffs at larger firms," KPMG chief economist Diane Swonk wrote in a note to clients. July hike pretty certain Minutes published earlier this week of the Fed's last meeting showed that several members of its rate-setting committee supported another hike in June to tackle high inflation. Ultimately, the Federal Open Market Committee voted to pause the Fed's campaign of 10 consecutive rate increases, indicating that two additional increases would likely be needed before the end of the year to bring inflation back down. Speaking shortly after the jobs report was released on Friday morning, Chicago Fed president Austan Goolsbee suggested the US central bank had more work to do to tame inflation. "Overall the job market is outstanding, and is getting back to a well-balanced, sustainable level," he told CNBC. "The consensus of almost all the FOMC in the statement of projections is that, over this year, we will have one or two more hikes. I haven't seen anything that says that's wrong," he said. Friday's labor data underscores the likelihood the Fed will return to its campaign of interest rate hikes later this month, according to Oxford Economics' Klachkin. "Given where the data stand right now I think that a hike this month is pretty certain, and I would say that there are even risks of more hikes in the second half," he said. "The Fed is expected to raise rates at least another half percent before it pauses," KPMG's Swonk said, adding that a hike in July was "all but a done deal" at this point. Futures traders now assign a probability of more than 90 percent that the Fed will raise its base rate by a quarter percentage point at its next meeting on July 25-26, according to data from CME Group. The post US economy adds 209,000 new jobs as hiring slows appeared first on Daily Tribune......»»
Tens of millions sign up to Twitter rival Threads
More than 30 million people have downloaded Threads, Meta's rival to Twitter, within the first few hours of its launch, the company's CEO Mark Zuckerberg said Thursday. The app went live on Apple and Android app stores in 100 countries at 2300 GMT on Wednesday and will run with no ads for now, but its release in Europe has been delayed over data privacy concerns. Threads is the biggest challenger yet to Elon Musk-owned Twitter, which has seen a series of potential competitors emerge but not yet replace one of the world's biggest social media platforms, despite its struggles. "Feels like the beginning of something special, but we've got a lot of work ahead to build the app," Zuckerberg wrote on his official Threads account Thursday. Accounts were already active for celebrities such as Jennifer Lopez, Shakira, and Hugh Jackman, as well as media outlets including The Washington Post and The Economist. Zuckerberg also offered a shot across the bow at Musk -- the pair are known to be bitter rivals and have offered to wrestle it out in a cage fight. In his first tweet in over a decade, Zuckerberg posted a Spiderman pointing at Spiderman meme in an apparent reference to the similarities between Threads and Twitter. On Threads, he wrote: "It'll take some time, but I think there should be a public conversations app with 1 billion+ people on it." Twitter has said it has more than 200 million daily users. Be kind Threads was introduced as a clear spin-off of Instagram, which offers a built-in audience of more than two billion users, sparing the new platform the challenge of starting from scratch. Instagram chief Adam Mosseri told users that Threads was intended to build "an open and friendly platform for conversations." "The best thing you can do if you want that too is be kind," he said. Zuckerberg is taking advantage of Musk's chaotic ownership of Twitter to push out the new product, which Meta hopes will become the go-to platform for celebrities, companies, and politicians. "It's as simple as that: if an Instagram user with a large number of followers such as Kardashian or a Bieber or a Messi begins posting on Threads regularly, a new platform could quickly thrive," strategic financial analyst Brian Wieser said on Substack. Analyst Jasmine Engberg from Insider Intelligence said Threads only needs one out of four Instagram monthly users "to make it as big as Twitter." "Twitter users are desperate for an alternative, and Musk has given Zuckerberg an opening," she added. Under Musk, Twitter has seen content moderation reduced to a minimum with glitches and rash decisions scaring away celebrities and major advertisers. He has angered Twitter's most devoted aficionados by declaring that access to its TweetDeck product -- which allows users to view a fast flow of tweets at once -- would be for paying customers only. EU many months away Meta has its legion of critics too, especially in Europe, which could slow the growth of Threads. The company has been criticized for its handling of personal data, the essential ingredient for targeted ads that help it rake in billions of dollars in profits. Mosseri said he regretted that the launch was delayed in the European Union, but had Meta waited for regulatory clarity from Brussels, Threads would have been "many, many, many, months away." "I was worried that our window would close because timing is important," he told the tech news site Platformer. According to a source close to the matter, Meta was wary of a new law called the Digital Markets Act, which sets strict rules for the world's "gatekeeper" internet companies. One rule restricts platforms from moving user data between products, as would potentially be the case between Threads and Instagram. The EU Commission, which will oversee compliance with the DMA, declined to comment on what it said was a private business decision. Meta was caught doing just that after it bought WhatsApp, and European regulators will be on high alert to ensure it does not do so illegally with Threads. Globally, the Threads hashtag on Twitter has garnered three million tweets, with many users jokingly suggesting people will return to Musk's platform. "10 mins into threads app. Me coming back to Twitter," one user wrote, sharing a video of a man sprinting. Others expressed privacy concerns. "Meta loves to collect private information and I don't trust the way it treats private information," a Japanese user tweeted. "I also have the impression that this is a company hated by the EU, so I'm reluctant." But some said they would permanently move to Threads. One Threads user wrote: "Now I truly can say goodbye to Twitter forever." The post Tens of millions sign up to Twitter rival Threads appeared first on Daily Tribune......»»
Jaime Ponce de Leon — Art world’s man of the hour
To say that Jaime de Leon gave us his most prized treasure by sharing his “Hymen, Oh Hymenee” by Juan Luna would be an understatement. Jaime has not only made legions of art lovers happy and ecstatic; what he has achieved, by allowing the exhibition of this missing masterpiece, the holy grail of Philippine art, is an earthshaking development — one that, as it were, had ignited an intense movement of the “tectonic plate” of Philippine cultural heritage. [caption id="attachment_145553" align="aligncenter" width="525"] Photographs courtesy of leon gallery | ‘Hymen, oh Hyménée,’ in its finest details, manifests Juan Lu-na’s genius as an artist.[/caption] What had been missing for more than a century finally found its way home, right at the renowned Ayala Museum, thanks to Jaime, the trailblazing founder of the game-changing Leon Gallery, which has been responsible for the change of hands of the most valuable masterpieces of our renowned artists from the Spanish times, through antebellum Philippines and the postwar years, all the way to the new millennium. [caption id="attachment_145552" align="aligncenter" width="525"] JAIME de Leon, NCCA chairman Ino Manalo and Ayala Museum’s senior director Mariles Gustilo.[/caption] His discovery of Luna’s most sought-after painting in a royal house in Europe is a story that will be told through the coming generations of art lovers, enthusiasts, collectors and scholars. Just a few days ago, I visited Jaime in Leon Gallery, and art gallery and auction house that he founded in 2013. He shared with me his life story and how he had stumbled upon a new epicenter around which would revolve the life that he had wanted for himself. Jaime was still pursuing his business management degree in Silliman University when he was elected as the chairman of the barangay located right along the main boulevard of Dumaguete City. Realizing that politics was “not cut for me, I thought that I had bigger dreams. It’s like a fish that you put on a pond. It would only grow up to that size. I wanted to go to the big city. I wanted to live in the ocean and allow myself to be bigger. So, I moved to Manila.” In the big city, he started out as a real estate salesman, one of those guys who gave away brochures at the mall. But he would not last long, as he explored other possibilities. He next spent a year in Malaysia where he worked at the office of a construction firm. “It was a time for discovering myself,” he says. “I also learned how to be truly independent, away from the support of one’s family and home. It was an eye opener for me. After a year, when I got back to the Philippines, I thought, ‘Oh my God. What would I make of my life? I didn’t know which direction to take.” He then decided on taking up interior design at the Philippine School of Interior Design. While he admitted to not being good at drawing, he grew up appreciating “the nice things and antiques in my grandmother’ home.” In time, he was designing for clients. “Of course, when you decorate houses, you put paintings on the walls and you advise your clients and tell them this doesn’t go here. And the client would tell you that since they did not need them anymore, could I find a buyer for them? I ended up selling for clients. From those initial transactions, I started my business. In 2010, I opened a small gallery in Corinthian Plaza. So, I put everything there that I was selling from the houses of people who didn’t want them anymore because they were transferring to smaller houses or they were leaving the country. And she asked me if I was interested to help them liquidate the collection of an insurance company. “So, I said, why don’t I just broker them if all they wanted was to liquidate the art works? That would be easier. I told myself I could probably just borrow money to buy everything and I could just sell them. “But she pointed out that the mandate of their corporation required an auction. And I had zero knowledge about auctions. So, I said, ‘What can I do? I cannot lose this.’ I mean, I had nothing to lose, so should just do it. I told them, ‘I’ll do it.’” Jaime next called Cid Reyes, the art expert and critic. “And he agreed. I had to call all my friends to help. I didn’t have the resources to hire, so it was all request. And so we did our first auction in January 2013. We auctioned everything, all 54 lots.” “The rest,” Jaime said, “is history. I started to acquire my knowledge by going to Christie’s in New York to study the courses they offered. I went to London and studied Art Law. I went to the University of Arts London (UAL). Just to get the feel and just to be able to learn as much as I can. At least I would have more knowledge because I didn’t have any background in art in school. It was his knowledge, along with his network of friends, that would lead him to more breaks. One friend who would make a big difference in his life was Dr. Teyet Pascual, in his time one of the foremost collectors of the country’s masters. It was also with this friendship that his quest for the holy grail of Philippine art would be inspired until it became a lifelong longing to find it. The following is a continuation of my interview with Jaime. Daily Tribune: What is the most important for someone to succeed in the auction business? Jaime Ponce de Leon (JPDL): You know, reputation is the most important in this business. When we were starting, it was difficult to get the trust of these old families. And you know how guarded these old families are. And here comes a new kid on the block, how can he be trusted with our most prized possessions. So, I had to build trust slowly and slowly, brick by brick. DT: Have there been issues and challenges? JPDL: Definitely. When you’re in this business, sometimes you also make mistakes. These happen when things are deemed to be not it was meant to be what it is. Any dealer who says he has not gotten through that is a liar. These things happen. But for as long as you don’t do things knowingly, you know what I mean? I mean, if you don’t do such things knowingly, the world excuses people who are honest. And I think that is essential. DT: How do you go about finding all these treasures? JPDL: You know what? It’s probably through my gut and my grit. And I tend to have the personality of someone with a thick face. Not that I would just knock at anybody’s house, but I am not shy to speak to people, to introduce myself to people. Biggest finds DT: What has been your biggest find? JPDL: Well, in terms of find, of course this Luna. DT: Well, aside from this, can you mention some names? JPDL: Well, of course, in 2015, I was able to find this cachet of Zobels that people never thought existed. I found it in Boston, somewhere in New England. I remember very well there was a party at one of the galleries and I saw Paulino Que and I saw Ken Esguerra and told them, ‘Guys, I have discovered 83 pieces of Fernando Zobel.’ Sabi nila, ‘No, impossible. How come we don’t know anything about it?’ DT: Where exactly did you find it? JPDL: In an attic. The Pfeufer collection. The collector was the guardian of Fernando Zobel in Harvard and in Rhode Island. And when I found this in the attic, I couldn’t believe what I saw. I was already two years in the business. So, I auctioned them one by one. So, it was another white glove sale. Because at that time we made the world record for the most expensive Zobel. At that time, it was just P30 to 35 million in 2015. [caption id="attachment_145551" align="aligncenter" width="525"] at Harvard Business School where Jaime is pursuing his graduate studies.[/caption] So, we were selling fantastic pieces that no one could believe it was found. I mean, how can you find in one attic 80-plus pieces of Fernando Zobel, right? So, we did that. And over the years, of course, this and that. That I would find. DT: Tell me about the Magsaysay-Hos and the others. JPDL: Almost the same. The best ones are also found abroad. The last one was a world record. We sold it for P84 to P85 million. The Jim and Reed Pfeufer collection. So, this is the one I found in New England. The Joya that we sold here, P112 million. The Joya of Josie Baldovino. I’ll tell you a story. Mrs. Baldovino, the sister of Jose Joya, and I were always close. In this business, it’s all about trust. Once you establish the trust with your client, I think you’re already one step ahead. So, Mrs. Baldovino comes to me and tells me that she was already old. She felt she was nearing her run. So, she said, “Jaime, I trust you.” So, she sent me her piece. Her beautiful piece. I went to India, I had a trip and I got a call from her, “Jaime, you know, this collector came to me and offered me P50 million for my Joya.” Of course, that amount was life-changing, It was P50 million. I told Mrs. Baldovino, “Ma’am you know, I truly respect your decision on this. It’s really up to you.” She said, “Jaime, what should I do? This is already P50 million right in front of me.” We already had it with us, so I said, “Ma’am, we will do all our best to make it sell well. But please, I will not hold you to it. I will not get in the way of your decision to sell it for P50 million. But we will do everything we can to make this sell well. Just trust us.” So, finally, she called me back, “Okay, I’ll leave my trust to you. I will leave the piece.” So, three weeks after, the auction happened. And it became the highest painting ever sold in the Philippines. It was P112 million. DT: She must have been very happy. JPDL She was able to build a building in Fairview. A beautiful building, and she was so thankful. Of course, the stars aligned, the blessings were there. DT: What is your advice to anyone who wants to invest in the arts? Which artists should they buy? JPDL: You know what, a lot of them. But, you know, my advice? First, it’s never a good thing when you buy something immediately for investment purposes. When you buy something, buy first something you like. (Enjoy it). If the price goes up, (that’s a) bonus. If it doesn’t, then you enjoy the piece. ‘Taste changes’ DT: Why are some artists expensive, and why do art works of the same artist vary in peso value? JPDL: You know, art has so many factors involved. So much variables involved. There is a conglomeration of things on why an artist becomes successful. They’re all good. But it’s dependent on certain factors. Like, mister something bought the work. People see it. People feel that he’s a good artist because mister something bought the work. He’s exhibited by the right gallery. He’s exhibited in a museum, in a fair. You know, all these, once all these variables conglomerate together, and then, viola. DT: Why do some collections sell fast and some stay with you up to the next auction? JPDL: Well, sometimes there are things that really don’t sell. I mean, probably because of the prices that we put are high. Taste changes. I’ll give you an example. Manansala was very popular in the 1980s. And everybody, all these women, they all wanted to undress themselves in front of Manansala and get themselves painted. But now, it’s no longer the taste of today. People don’t buy nudes. People don’t have themselves painted in the nude. Many people are born again. They’re not allowed to put nudes on their walls. All these reasons. So, taste changes. And it’s a cycle. Editor’s note: The Leon Gallery Spectacular Mid-Year Auction 2023 takes place today June 17, 2023 starting at 2:00 PM, featuring art works from the collections of Manila’s society doyens, Zita Fernandez Feliciano and Delly Tambunting Ongsiakio The post Jaime Ponce de Leon — Art world’s man of the hour appeared first on Daily Tribune......»»
Dad’s Day treats
Escape at The Pen [caption id="attachment_144658" align="aligncenter" width="525"] Photograph courtesy of the peninsuLa manilaTRIUMPH motorcycle[/caption] The Peninsula Manila offers dads a weekend staycation while indulging in Escolta’s Sunday brunch buffet. Make sure he also gets to experience Salon de Ning’s one-afternoon-only pop-up Pen Ultimate Father’s Day Dream Lounge, where he’ll enjoy complimentary cocktails and pica-pica and snazzy grooming services. The Dream Lounge will offer complimentary male grooming services from Back Alley Barbershop; a display of Triumph motorcycles and automobiles from Rolls-Royce, Lotus and Mini Cooper; For Him skincare by VMV Hypoallergenics whose expert technicians will provide complimentary hand treatments; funky and functional ceramic art from Pottery Sessions, custom-made menswear crafted in Singapore by Common Suits; pens and inks for fountain pen aficionados by Manila Pen; bespoke spectacles by R.E.M. Rapid Eye Movement Manila; rare timepieces from Vintage Grail, collectible vinyls and DJ music; artisanal chocolates from Auro Chocolate; and small bites and innovative cocktails. E-mail ReservationPMN@peninsula.com. Toast to Dad Conrad Manila has an exclusive Father’s Day promo. Brasserie on 3, the hotel’s signature restaurant, presents “Feast to Fatherhood” on 17 to 18 June, with P3,500 nett lunch and dinner buffet. As a special treat, dads dine for free with every four paying adults. China Blue by Jereme Leung has the “Father’s Day Feast Set Menu” from 16 to 18 June, priced at P49,880 nett for 10 persons. At C Lounge, it’s time for “Dad’s Night Out” until 18 June. Starting at 5 p.m., this extraordinary experience is priced at P2,288++ and includes a three-glass whiskey flight, one cigar and five truffle chocolate balls. Bru, Conrad Manila’s beloved café, invites guests to “Treats for Tatay” throughout the month of June. With a minimum purchase of P1,000, dads receive a complimentary Father’s Day mini cake. Conrad Spa offers the ultimate rejuvenation experience for dads with the exclusive “Father’s Day Rejuvenation” package. Visit www.conradmanila.com or call 8833 9999. Day delights [caption id="attachment_144645" align="aligncenter" width="525"] Photograph courtesy of city of dreamsCrystal Dragon’s Chilled Spicy Marinated 25 Heads Chilean Abalone with squids, shrimps, and clams.[/caption] City of Dreams Manila’s Crystal Dragon presents an exclusive Father’s Day menu until 18 June. Choices include Chilled Spicy Marinated 25 Heads Chilean Abalone with squids, shrimps and clams; Double-boiled Sea Treasure Soup with maca, fish maw, conpoy and pork stomach; Roasted Farm Duck with black truffle sauce; Sauteed Australian Asparagus with shrimps and morel mushrooms; and Braised Fujian Fragrant Rice with assorted seafood and eryngii mushroom. Nobu Sunday Brunch features a lavish spread of new-style Japanese cuisine popularized by world renowned chef Nobu Matsuhisa at P4,388. Restaurants at The Shops at the Boulevard are not to be missed. Jing Ting, specializing in Northern Chinese cuisine including fresh hand-pulled noodle dishes, and Red Ginger, which offers authentic Southeast Asian dishes, are both offering menu exclusives for the month of June. Rossi Pizza, Hidemasa, TungLok Signatures, Mango Tree, J. Park Garden, Modern Table and the newly opened Wolfgang’s Steakhouse and Grill are equally worth a visit. Call 8800-8080 or e-mail guestservices@cod-manila.com or visit www.cityofdreams manila.com. Drink of choice [caption id="attachment_144657" align="aligncenter" width="525"] Photograph courtesyof new world makati‘SHAKEN Not Stirred’ gin.[/caption] New World Makati Hotel’s “A Toast to Dad” room package includes breakfast and dad’s cocktails of choice, a hearty buffet feast at Café 1228, all-you-can-eat dim sum at Jasmine, as well as decadent cakes and sweets at The Shop. Whether dad’s drink of choice is a whisky, gin or rum-based concoction, the “A Toast to Dad” room package starting at P8,500++ comes with two creative cocktails from Bar Rouge as well as a complimentary bowl of chips and dip. Room package also includes an overnight stay in a Deluxe or Residence Club Deluxe room with breakfast for two. Book online via bit.ly/NWMFathers DayStay. Superb treats With three delectable combos to choose from, Pizza Hut has Superb Treat for six to nine persons at a P1,899. For a more intimate Father’s Day celebration, there’s the Superb Treat for four, at P1,199. If your dad is the biggest pizza lover that you know, then you’ll never go wrong with the Superb Triple Pizza Treat at P1,199. If you order Pizza Hut ahead of time for your Father’s Day celebration, you’ll get six pieces of WingStreet Buffalo wings for free. Call 8911-1111 hotline or visit www.pizzahut.com.ph. Happy Papi Gringo’s Chicken and Ribs rolls out its Father’s Day special with Papi’s Paboritos. Papi’s Paboritos has all-time Gringo like the Cuban Beef Lechon. Gringo’s Cerveza Wings even makes a comeback in this one, fried chicken wings fried to crisp perfection and flavored with the malty goodness of beer. Pair it with starters like the Caesar Salad and the meaty Angus Bolognese Linguine. Cap the meal with its new Classic Tres Leches, a light and soft sponge cake soaked with three kinds of milk. This limited offering is only P2,198 and is available in all Gringo branches. Visit gringo.ph. Ebi awesome [caption id="attachment_144660" align="aligncenter" width="525"] Photograph courtesy of tokyo bubble teaBIBIMBAP[/caption] For the entire month of June, Tokyo Bubble Tea offers Ebi Tempura Meal Sets featuring three pieces of Tokyo Bubble Tea’s Ebi Tempura, two Tokyo Big Plates and two large drinks. Specially made set meals for those in Cagayan de Oro are also available. Metro Manila branches are located in Banawe, Greenhills, SM Megamall, and Bonifacio Global City. Each set is P899.Tokyo Bubble Tea branches in Cagayan de Oro are located at Centrio Mall and SM CDO Downtown Premier. Each set is only P650. Visit www.tokyobubbletea.com, Grab Food, and FoodPanda. The post Dad’s Day treats appeared first on Daily Tribune......»»
Messi future decision drawing near with Barca return hopes fading
With Lionel Messi's time at Paris Saint-Germain drawing to a close, the Argentine forward will soon reveal his future -- but hopes of a romantic return to Barcelona are fading. Messi, who turns 36 in June, is Barcelona's all-time record goalscorer and biggest icon and was forced to wave a tearful goodbye in 2021 at the end of his contract, with the club unable to afford to keep him. Coach Xavi Hernandez has been pushing hard for the World Cup winner to come back, but Messi's camp has told Spanish media no offer from Barcelona has arrived yet. "For me, there is no doubt that if Messi comes back he will help us on a footballing level, that's what I've let the president know," Xavi told Spanish daily Diario Sport. Barcelona is waiting for La Liga to approve a financial viability plan ahead of spending in the summer transfer window. "At the moment it seems difficult for Messi to return to Barca," said La Liga president Javier Tebas in April. "Barca are not like PSG, who have a fuel tap and money for a big salary." La Liga's financial fair play rules currently limit Barcelona to spending 40 percent of any savings made through salary cuts or player sales, because of the club's losses. Even if they bring in enough new income to break free of the league's financial handcuffs, what they can offer Messi would be modest. By contrast, elsewhere Messi will be paid a king's ransom, into the hundreds of millions. A source close to the deal told AFP in May the forward has an agreement to move to the Saudi Arabian league, joining his former Real Madrid sparring partner Cristiano Ronaldo in the Gulf state. [caption id="attachment_139853" align="aligncenter" width="525"] Graphic showing the main statistics of Argentine footballer Lionel Messi[/caption] Risks Many Barcelona fans and coach Xavi would like Messi to add a much-needed coda to a story left incomplete by his shock departure. The forward arrived at Barcelona at 13 years old and departed without a proper goodbye to supporters, who at that point were still shut out of stadiums because of the pandemic. Messi showed by leading Argentina to World Cup glory in Qatar that he can still deliver at the elite level when motivated. The forward is the favorite to win the Ballon d'Or and remains sublime at breaking down stubborn defenses, something Barca has struggled with even on their way to winning La Liga this season. His return would be costly in terms of wages but, without a transfer fee, could still represent good value for a club hungry for short-term success. "Reclaiming" Messi's legacy is positive in its own right, ensuring he finishes his career at the club where he spent two decades. The romance of a fairytale return and a chance to seal his glorious chapter in the club's history are tempting, but with Barcelona moving forward and transforming, it could be a mistake for both club and player to turn back to the past. Some believe Barca should not direct a significant chunk of their limited financial resources towards an aging great when there are clear areas where the squad needs improvement. Xavi has said replacing veteran holding midfielder Sergio Busquets, who is departing, is the key to any success next season. Barcelona also needs a first-choice right-back, a backup for striker Robert Lewandowski and a left-winger. Some fans are worried a return for Messi may tarnish his brilliant legacy at Barcelona and hamper the team's progress at the same time. Messi may consider that in terms of his legacy, there is more to lose than gain by returning to Barcelona. French champions PSG host Clermont in their final Ligue 1 match of the season on Saturday, with Messi's future set to take center-stage after that. The post Messi future decision drawing near with Barca return hopes fading appeared first on Daily Tribune......»»
Azkals to face Nepal, Taiwan in tune-up matches at Rizal Memorial Stadium in June
CEBU CITY, Philippines— The Philippine men’s football team or Philippine Azkals will have fitting tune-up matches ahead of their FIFA World Cup/AFC Asian Cup joint preliminary qualifiers later this year. The Azkals will go up against Nepal and Taiwan in back-to-back friendly matches at the Rizal Memorial Stadium next month. They will face Nepal first […] The post Azkals to face Nepal, Taiwan in tune-up matches at Rizal Memorial Stadium in June appeared first on Cebu Daily News......»»
Sparkle GMA Artist Center names new VP
Media giant GMA Network Inc. recently promoted Joy C. Marcelo as vice president of Sparkle GMA Artist Center. Prior to joining Sparkle, Marcelo was the program manager for various GMA Public Affairs programs, namely, "Imbestigador," "Wish Ko Lang" and "AHA!," the latter of which she conceptualized herself. She served as the program manager for these shows from the years 2006 to 2014. In 2014, she moved to GMA Network's talent management arm, Sparkle GMA Artist Center, as a talent manager and unit head. Marcelo has played an integral role in boosting the careers of some of the top Kapuso stars today such as Gabbi Garcia, Sanya Lopez, Barbie Forteza, David Licauco and recently crowned Miss Universe Philippines 2023 Michelle Dee. Marcelo was then appointed as Sparkle's assistant vice president in January 2022. Under her direction, the talent management arm has grown exponentially, leading to grand launches and huge events. Some of the talent agency's biggest achievements include the launch of the Sparkle brand, Sparkle's Next Brightest Stars, Sparkada and the Sparkle Teens. Sparkle also organized the GMA Thanksgiving Gala, Sparkle Spell and the Sparkle Gives Back charity event. Aside from events and launches, Sparkle also became more aggressive in the digital landscape under Marcelo's leadership. With additional resources invested in social media, Sparkle was able to increase its online presence and following by almost 200 percent. Sparkle's official YouTube channel also earned its Silver Play Button in 2022, proving the efficacy of Marcelo's foresight to ramp up Sparkle's digital efforts. Her leadership has also led to major endorsements and branded deals, resulting to a double-digit increase in income for the department. As the new vice president for Sparkle, Marcelo envisions a bright and progressive future ahead for its artists and for the leading talent management group in the country. The post Sparkle GMA Artist Center names new VP appeared first on Daily Tribune......»»
Kaya forges draw, retains top spot
TALISAY CITY -- Kaya FC Iloilo refused to be daunted by Dynamic Herb Cebu’s valiant effort and its energetic home crowd as the league leaders came away with a precious point in a crucial Philippines Football League clash last Sunday at the Dynamic Herb Sports Complex. Kaya’s Japanese winger Daizo Horikoshi struck his 14th goal of the season before Jacob Liao found the equalizer as the league’s top two teams settled for a 1-1 stalemate. It’s a crucial result for Kaya as it kept the two-point advantage over Cebu in the title race with only three matches left for both teams. Kaya still has to play Maharlika, Mendiola and Stallion Laguna, while Cebu has two remaining matches against Stallion and another one against the Azkals Development Team. “The players showed their worth,” said Kaya coach Yu Hoshide. “This was an important result for us.” Hosting the final meeting of the season against their biggest rivals put Cebu in a strong position to wrest top spot. But the Gentle Giants fell behind in the eighth minute when Mar Diano found Horikoshi at the far post for a close-range finish past Jun Badelic. Egged on by the home crowd, the Gentle Giants found the equalizer 11 minutes later when JB Borlongan floated in a free kick into the area. Liao was the quickest to react, slotting the ball past Zach Banzon to put the match back on a knife edge. Even with the opportunities in the second half, the Gentle Giants struggled to find a cutting edge to pick apart a resolute Kaya defense and Banzon on goal. “We needed to win to get the advantage and we were unable to get it,” Cebu coach Mehmet Kakil said. The post Kaya forges draw, retains top spot appeared first on Daily Tribune......»»
Olympic sponsor gets prison term
TOKYO, Japan (AFP) -- The former chairman of a Tokyo 2020 Olympics sponsor was handed a suspended prison sentence along with two others in the first convictions in a spiraling bribery scandal surrounding the event. Corruption allegations have mushroomed in the aftermath of the pandemic-delayed Games, implicating major companies and damaging Japan's bid to host the 2030 Winter Olympics in Sapporo. Hironori Aoki, the 84-year-old ex-head of high-street business suit retailer Aoki Holdings, received a suspended prison term of two and a half years, a Tokyo District Court spokesman told AFP. Aoki pleaded guilty in December to accusations that he and two colleagues bribed a Tokyo 2020 board member to secure sponsorship rights, according to Japanese media. "These criminal acts damaged social trust in the fair operation of the Games, which attracted world attention and were important for the country," judge Kenji Yasunaga said Friday in comments reported by Jiji Press. Aoki, who had instructed a colleague at the time to destroy evidence, "wanted to pursue the interests of his company," the judge said. Prosecutors had sought immediate jail for the businessman, but instead the court handed down Friday's sentence, suspended for four years. Aoki Holdings was an official partner of the 2020 Olympics -- which were held largely without spectators in 2021 because of Covid -- allowing the firm to use the event's logo and sell officially licensed products. Aoki was arrested in August along with two ex-colleagues and former Tokyo 2020 board member Haruyuki Takahashi. The two ex-colleagues also received suspended jail sentences on Friday, one for a year and the other for 18 months. Takahashi, who is facing several separate bribery charges, has reportedly pleaded not guilty. Takahashi allegedly received $380,000 which he understood to be "thank-you money for the beneficial and preferential treatment" of Aoki Holdings, according to prosecution documents. An Aoki Holdings spokeswoman told AFP: "We take the ruling seriously and will do our utmost to prevent a recurrence and regain trust from our customers." Other parties involved in bribery allegations include a major publishing firm and a merchandise company licensed to sell soft toys of the Games' mascots. The former president of ADK Holdings, Japan's third-largest advertising agency, has pleaded guilty to offering Takahashi over $100,000. Meanwhile, in a separate strand of allegations, senior Tokyo 2020 organizing committee official Yasuo Mori and three others have been arrested on suspicion of rigging a string of Games-related tenders. And in February, Japan's biggest advertising agency, Dentsu Group, was indicted along with five other companies for allegedly violating an anti-monopoly law. As investigations continue, the country's Olympic chief warned this month that Japan could push its Winter Olympics bid back four years to 2034. Japanese Olympic Committee president Yasuhiro Yamashita said it would be "difficult to move ahead without gaining people's understanding" following the scandals. The allegations are not the first-time questions have been raised about alleged impropriety around Tokyo 2020, which took place during a Covid state of emergency and against the backdrop of public anger. The then-head of Japan's Olympic Committee, Tsunekazu Takeda, stepped down in 2019 as French authorities probed his alleged involvement in payments made before Tokyo was awarded the event. He denies wrongdoing. The post Olympic sponsor gets prison term appeared first on Daily Tribune......»»
Belga stars in OT as Rain or Shine continues good run inside bubble
Beau Belga delivered when it mattered most in the overtime period. (PBA Images) Beau Belga had the last laugh with a stirring performance Tuesday night as Rain or Shine grinded out an 85-82 overtime win over Barangay Ginebra San Miguel in the PBA Philippine Cup at the Angeles University Foundation Sports and Cultural Center. Belga scored five of his 20 points in the five-minute extension, a follow-up after missing a layup and a three-pointer that gave the Elasto Painters an 83-78 lead, and added 10 rebounds and four assists as the Elasto Painters pulled out a win while handing the Kings a second straight loss following a 4-0 start. But Rain or Shine needed one lucky break to secure its fourth win in five games inside the bubble known as Smart Clark Giga City after Ginebra cut the deficit to 83-80. Jewel Ponferada retrieved the ball after Rey Nambatac slipped before hitting a running one-hander for his only points with five seconds to go to make it an 85-80 lead for the Elasto Painters. Rain or Shine bounced back after falling short against Alaska, 89-88, last week while needing an extra day of rest when Sunday’s game with Blackwater was cancelled due after one of the Elite’s players initially tested positive for COVID-19. No one motivated coming into the game more than Belga, who was out to prove something after seeing a social media comment earlier in the day. “May isang hater na binatikos ako sa social media na puro pananakit lang daw ginagawa ko sa PBA and I just to prove him wrong,” Belga said during a postgame interview on One Sports. Coach Caloy Garcia was also glad that Belga was not the only player to step up for the Elasto Painters. Mark Borboran scored 16 points and grabbed five rebounds while James Yap earned a starting role and produced a season-high 13 points. Nambatac only had eight points, but produced one of the game’s biggest shot with a three-pointer that tied the knot at 76-all with 2.1 seconds to go in regulation. Kris Rosales also scored all of his eight points in the first quarter that saw Rain or Shine take a 24-15 lead and forced Ginebra to play catch up throughout. Ginebra had to slowly inch its way back from being down 39-24 in the second behind Stanley Pringle and Scottie Thompson. Pringle’s jumper put the Kings ahead, 74-73, with over two minutes remaining in the fourth before Borboran missed two free throws and Gabe Norwood muffing a medium-range jumper. LA Tenorio got fouled and made a pair of charities for a three-point Ginebra lead before Nambatac continued his knack to have the ball in the clutch with the game-tying triple on the next play. Thompson finished with 21 points, 10 rebounds, five assists, two steals and two blocks and Pringle had 20 points, seven rebounds and six assists but Ginebra couldn’t recover from Sunday’s loss to sibling rival Magnolia. The scores: RAIN OR SHINE 85 — Belga 20, Borboran 13, Yap 12, Nambatac 8, Rosales 8, Onwubere 3, Norwood 3, Ponferada 2, Wong 0, Torres 0. GINEBRA 82 — Thompson 21, Pringle 20, Aguilar J. 13, Tenorio 10, Devance 6, Caperal 5, Mariano 3, Chan 2, Dillinger 2, Tolentino 0. Quarters: 24-15, 45-36, 61-57, 76-76 (Reg), 85-82 (OT)......»»
Casio plays hero as Alaska breaks bubble curse
Jvee Casio was excellent in crucial moments. (PBA Images) Alaska bounced back from two losses to open the bubble campaign by grinding out an 87-81 victory over Magnolia Saturday night in the PBA Philippine Cup at the Angeles University Foundation Sports and Cultural Center. Jvee Casio produced some of the keys in the final minutes as the Aces defeated one of the PBA’s top contenders to barge into the win column after falling short against the TNT Tropang Giga and Meralco Bolts. Casio finished with 17 points, including a three-pointer that put Alaska ahead 79-75 with 2:40 remaining in the fourth. He also blocked a rainbow attempt by Jackson Corpuz while the Aces were protecting an 85-81 lead. Jeron Teng scored eight of his team-high 19 points in the fourth quarter, helping the Aces take the lead for good while Mike DiGregorio and Abu Tratter added 10 points apiece. The Aces won in the first game since announcing that forward Kevin Racal will miss the rest of the conference due to an ACL injury he suffered in their 100-95 loss to the Tropang Giga last Oct. 11. That game certainly was still in the mind of coach Jeffrey Cariaso, who told his team to carry a mentality as if the Aces had a 1-1 record. “When you approach that game than being 0-2, I think their mindset’s different,” he said. “We came to this game facing a well-coached and very tough Magnolia team. They have superstars that we really have to worry about and to be able to step up and be better defensively is my biggest take on this game.” Alaska bucked a 39-28 second quarter deficit to inch its way back into the game, cooling Magnolia’s offense after making 63-percent of its shots in the first quarter. Mark Barroca was one of the few bright spots for the Hotshots with 16 points, three rebounds, five assists and two steals. Rookie big man Aris Dionisio scored 10 points in 17 minutes. But Magnolia saw Paul Lee being held to a 4-of-16 shooting despite 14 points, thus falling to a 1-2 record this conference. The scores: ALASKA 87 — Teng 19, Casio 17, Tratter 10, DiGregorio 10, Manuel 9, Herndon 7, Galliguez 6, Ebona 5, Brondial 4, Ayaay 0, Marcelino 0, Publico 0. MAGNOLIA 81 — Barroca 16, Lee 14, Banchero 13, Jalalon 11, Dionisio 10, Sangalang 8, De la Rosa 7, Corpuz 2, Reavis 0, Melton 0, Abundo 0. Quarters: 21-29, 43-45, 62-64, 87-81......»»