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Fabric and craft company JOANN Inc. files for bankruptcy – The Daily Guardia
JOANN Inc., a popular fabric and craft company based in Hudson, has recently filed for bankruptcy in Delaware State. The Chapter 11 petition listed assets.....»»
Nearly 50,000 UK businesses on verge of collapse - report
Construction and real estate are among the hardest hit sectors, researchers say The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a "debt storm" triggered by a series of interest rate hikes, a report from a group of insolvency specialists re.....»»
Bankman-Fried to testify at his US crypto trial
Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, plans to make another high-stakes gamble and testify in his defense on Thursday at his criminal fraud trial. Bankman-Fried's decision to take the stand comes after three weeks of devastating testimony for the 31-year-old known as SBF, who has been accused of stealing billions of dollars from clients. His lawyer, Mark Cohen, told Judge Lewis Kaplan he expected Bankman-Fried's testimony to last for four or five hours. He is expected to begin around 2:00 p.m. (1800 GMT). Prosecutors were wrapping up their case on Thursday and handing it over to the defense, which said it plans to call four witnesses, including Bankman-Fried. Bankman-Fried, once one of the most respected figures in crypto, has been charged with seven counts of fraud, embezzlement, and criminal conspiracy. If convicted, he could face a de facto life sentence of more than 100 years in prison. The Massachusetts Institute of Technology graduate had, in just a few years, turned his FTX platform into the world's second-biggest crypto exchange -- making him a tech-world billionaire wunderkind. But his empire began to crumble last November when a news report pointed to unhealthy ties between FTX and Alameda Research, Bankman-Fried's personally owned trading company. Amid growing revelations, major investors pulled their money out of FTX, sinking it swiftly into bankruptcy. Some $8.7 billion was still unaccounted for after the dust settled, according to the receiver appointed to manage the liquidation. Bankman-Fried has denied taking other people's money, blaming former colleagues for the situation. But key witnesses in recent weeks, all former FTX or Alameda employees, refuted his account. Supported by internal documents compiled by the prosecution, they said he was behind the breaches and did not lose sight of the financial situation of FTX and Alameda. Ex-girlfriend offers evidence Among those taking the stand was Caroline Ellison, Bankman-Fried's former business partner and girlfriend. She offered conclusive evidence against him and delivered details on his management, saying he was involved in all major decisions. Ellison, a Stanford University mathematics graduate, was appointed by Bankman-Fried in 2021 to head Alameda, whose activities were largely financed by money from customers of FTX without their knowledge. She has pleaded guilty to fraud charges and agreed to cooperate with the prosecution, as have two other close associates of Bankman-Fried. Bankman-Fried's decision to testify in his defense is unusual in a country where criminal defendants generally decline to do so because they have to face cross-examination and run the risk of incriminating themselves. Hollywood producer Harvey Weinstein, comedian Bill Cosby, singer R. Kelly, and drug trafficker Joaquin "El Chapo" Guzman were among high-profile defendants who declined to testify at their recent trials. A Cornell University study of hundreds of trials published in 2009 found that 77 percent of defendants who chose to testify were convicted while 72 percent of those who declined to take the stand were found guilty. The post Bankman-Fried to testify at his US crypto trial appeared first on Daily Tribune......»»
4 Rite Aid Stores in San Diego County Slated for Closure amid Companys Bankruptcy Plan
Title: Four Rite Aid Stores in San Diego County to Close due to Company’s Bankruptcy Filing San Diego, California – Rite Aid, a leading nationwide.....»»
Politically divided Chile marks 50-year coup anniversary
Chile on Monday marked 50 years since the coup d'etat that brought Augusto Pinochet to power, with political divisions over the legacy of his brutal dictatorship on stark display. Commemorations of the violent US-backed ouster of Marxist leader Salvador Allende still evoke strong emotions, and police fired teargas and water cannons at protesters who vandalized the presidential palace on the anniversary's eve. Leftist President Gabriel Boric led an event at the palace, known as La Moneda, to mark the historic date, and stressed the need to condemn those who violate human rights "without any nuance." "The coup cannot be separated from what came after," he said, referring to the 17-year Pinochet dictatorship under which more than 3,200 people were killed or "disappeared" and tens of thousands tortured. The far-right UDI party issued a statement Monday defending the coup as "inevitable" due to the failures of Allende's political left. The presidents of Mexico, Colombia, Bolivia, and Uruguay were at the emotional ceremony in Santiago, also attended by Rage Against the Machine guitarist Tom Morello and former Uruguayan president Jose Mujica. No right-wing representatives attended Monday's event at La Moneda. Poetry readings and musical performances were interrupted by a minute of silence to mark the moment the bombs started dropping on the palace. Allende committed suicide while troops and tanks closed in. As night fell, thousands arrived at the national stadium in the capital -- once used by Pinochet's regime as a torture center -- to place candles in memory of the victims. Elsewhere, protesters on the outskirts of town prevented the passage of vehicles. The 1973 coup, in a country seen until then as a bastion of democracy and stability in Latin America, reverberated around the world and underscored covert interference by the United States. US State Department spokesperson Matthew Miller said Monday that President Joe Biden's government "has tried to be transparent about the US role in that chapter of Chilean history by recently declassifying documents from 1973 as the Chilean government has requested us to do." 'Never again' Chileans remain deeply divided between those who defend the coup and those who repudiate it, while many feel the anniversary is irrelevant amid economic woes and concerns over rising crime. A survey conducted by Cerc-Mori in May found that 36 percent of people believe Pinochet "liberated Chile from Marxism" -- the highest figure measured in 28 years of polling. On Sunday, Boric became the first president since the end of the dictatorship in 1990 to attend a commemorative march through Santiago for Pinochet's victims. But the procession was marred by vandals causing damage to the exterior of La Moneda and the general cemetery that houses a victims' memorial. Six police officers were injured and at least 11 people were arrested, officials said. Boric blamed the acts on "adversaries of democracy." On Sunday night, some 6,000 women dressed in black held a peaceful vigil in the capital under the slogan: "Never again will democracy be bombed," in reference to the 1973 air raids. Politics 'a little toxic' Led by Boric, Allende's leftist political heirs are in power in Chile today. But the far-right Republican Party -- Pinochet apologists -- emerged the strongest from elections in May for a body tasked with drafting a new constitution to replace the one that dates from the dictatorship era. Pinochet died of a heart attack on 10 December 2006, aged 91, without ever stepping foot in a court. Michelle Bachelet, a former leftist president of Chile, told a local radio station Monday the country must "learn from the lessons of the past" at a time when politics "is a little toxic." She herself was tortured during the dictatorship, as was her father, an air force general who had opposed the coup. Chile's right-wing opposition has abstained from signing a document affirming a commitment to "defend democracy from authoritarian threats" that has been signed by four living ex-presidents of the South American country. On Sunday, UN Secretary-General Antonio Guterres said the 1973 coup "was an institutional breakdown that ruptured the bonds of coexistence and marked generations of Chileans, but also inspired many to fight for justice and freedom." He added: "Today's strong Chilean democracy gives us hope that humanity, united in its diversity, can solve any global challenge." The post Politically divided Chile marks 50-year coup anniversary appeared first on Daily Tribune......»»
Alexander McQueen designer Sarah Burton quits after two decades
British fashion house Alexander McQueen is losing its artistic director Sarah Burton who has been in charge for more than 20 years, parent company Kering announced on Monday. The 49-year-old British designer took over the reins after the suicide of its founder, Lee Alexander McQueen, in 2010. She distinguished herself the following year by designing the wedding dress of Kate Middleton for marriage to Prince William. Burton joined the label in 1996, just four years after it was founded, and became head of women's collections in 2000. She "kept and continued Lee's heritage, attention to detail and unique vision, while adding her own personal, highly creative touch," said Francois-Henri Pinault, CEO of Kering, which also includes flagship labels Gucci and Saint Laurent. Her last show will be the Spring-Summer collection at Paris Fashion Week later this month, Kering said, adding that "a new creative organisation" will be announced "in due course". The change comes amid a downturn for the luxury giant. It saw a 10 percent drop in net profits in the first half of the year, driven largely by a decline in Gucci sales. Gucci's CEO since 2015, Marco Bizzarri, is leaving the group on September 23, almost a year after the announcement of the departure of the label's artistic director Alessandro Michele. "I am so proud of everything I've done and of my incredible team," Burton said in the statement. "Above all I want to thank Lee Alexander McQueen. He taught me so much and I am eternally grateful to him. I am looking forward to the future and my next chapter," she added. The post Alexander McQueen designer Sarah Burton quits after two decades appeared first on Daily Tribune......»»
New characters join ‘FPJ’s Batang Quiapo’
FPJ’s Batang Quiapo is adding new characters and actors, led by Jaclyn Jose and Ivana Alawi, who are set to add more excitement to the new chapter of Tanggol’s (Coco Martin) life as they join the hit Kapamilya primetime series. Aside from Jose and Alawi, the star-studded cast of also welcomes Robert Seña, Soliman Cruz, Lao Rodriguez, Jess Evardone, Vandolph, Romy Romulo, Zeppi Borromeo, Michael Rivero, Pambansang Kolokoy and Haprice. [caption id="attachment_178691" align="aligncenter" width="1792"] JACLYN Jose in ‘FPJ’s Batang Quiapo.’[/caption] The new characters will get involved in Tanggol’s life as he braces himself for more hardships and begins his sentence of life imprisonment. Amid the challenges, Tanggol will also get to meet Bubbles (Alawi), an alluring lady who could possibly open up Tanggol’s heart to love once again while he spends time away from his long-time love, Mokang (Lovi Poe). Meanwhile, Tanggol’s loved ones will encounter challenges of their own. More family problems will pile-up for Marites (Cherry Pie Picache), while Tanggol’s half-brother, David (Mccoy De Leon), will go to extreme lengths and continue to pretend to be Tanggol so that he can take advantage of his father’s wealth. With over 2.7 billion total online views since its premiere in February, FPJ’s Batang Quiapo continues to win the hearts of viewers for its heartwarming lessons about family and its non-stop action-packed scenes. With the new addition of actors, the action-comedy series promises a lot more exciting twists and dramatic confrontations as it continues to level-up its roster of artists who join the likes of award-winning actors Poe, Picache, Charo Santos, Christopher de Leon and many more. FPJ’s Batang Quiapo, which is inspired by the original story of Regal Films, shows on weeknights at 8 pm on Kapamilya Channel, A2Z, TV5, iWantTFC, and Kapamilya Online Live on ABS-CBN Entertainment’s YouTube channel and Facebook page. Viewers who use any digital TV box at home such as the TVplus box only need to rescan their device to be able to watch FPJ’s Batang Quiapo on TV5 and A2Z. The show is also available to viewers in and out of the Philippines on iWantTFC, while viewers outside of the Philippines can watch on The Filipino Channel on cable and IPTV. The post New characters join ‘FPJ’s Batang Quiapo’ appeared first on Daily Tribune......»»
Smooth transition between Makati, Taguig urged
A teachers’ group is calling for a smooth transition between the cities of Makati and Taguig to ensure that classes in the affected public schools will not be disrupted by the territorial tension with only a week to go before the opening of classes on 29 August. Teachers’ Dignity Coalition national chairperson Benjo Basas said the two cities should respect the Supreme Court decision, noting that the delivery of education for the learners should not be compromised amid the ongoing tension over a boundary dispute between these two neighboring cities. Noel Meneses, president of the Fort Bonifacio High School Faculty Club, has also called for an immediate resolution on the issue. “We hope the two cities would make an agreement to restore the normal school operations,” Meneses said. According to Meneses, majority of the teachers were affected by the sudden transfer of schools division particularly when the documents are immediately needed for transactions like certifications, assignment orders, permits, or loan applications that are very much needed in time for the beginning of classes. Meneses, who is also speaking on behalf of the local chapter of the TDC, said teachers need to be informed of the situation affecting the two cities because “they are at the frontlines in education, and directly involved with learners, their parents, and the community, and can help the DepEd to disseminate proper information.” Meanwhile, the school principals of the public schools located at the so-called enlisted men’s barrios said they have no problem if the schools are now under the jurisdiction of the local government of Taguig City. Makati Science High School Principal Dr. Felix Bunagan said that the conduct of this year’s “Brigada Eskwela” was a success, which was participated in by Taguig City Mayor Lani Cayetano. Earlier, students and teachers of the Tigaban High School in East Rembo warmly welcomed Taguig Mayor Lani Cayetano who actively engaged in the annual Brigada Eskwela activity. Earlier, West Rembo Elementary School principal Alma Cayabyab Adona said that while the two cities have good intentions, they should focus first on the welfare of the learners to establish a smooth opening of classes. She also reminded her fellow teachers to remain non-partisan and always do the mandate from the Department of Education. “We have no bias as long as the order must come from DepEd. That’s what we’ll stand for. We are not held by anyone,” she said. A total of 14 public schools involving some 1,500 teachers and 30,000 learners are affected by the transition, the TDC said. Basas said that the Department of Education’s central office’s assumption of authority over the affected schools would ease tension and open the door for more friendly talks between the two local government units. “With just a week to the opening of classes, our schools will need to make preparations, and in order to do this, teachers and other school personnel should be allowed to work, business as usual. We hope that things will get better sooner,” Basas said. The post Smooth transition between Makati, Taguig urged appeared first on Daily Tribune......»»
‘Barbie’ retains top spot at N. American box office for fourth week
Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates showed Sunday, as director Greta Gerwig continues to bust industry records. Gerwig, who with "Barbie" had already become the first solo woman director to rake in more than $1 billion at the global box office, this week became the highest-grossing woman director of all time in the domestic market, according to The Hollywood Reporter. Industry watcher Exhibitor Relations estimated this weekend's haul for "Barbie" at $33.7 million, bringing its domestic total to $526 million. Gerwig is currently vying against Jennifer Lee, who co-directed the animated sequel to Disney's "Frozen" with Chris Buck, to be the highest-grossing woman director of all time at the global box office. Starring Margot Robbie as the iconic doll and Ryan Gosling as boyfriend Ken, "Barbie" has earned a whopping $1.2 billion worldwide. Universal's "Oppenheimer," a historical drama about the development of the atomic bomb, regained its second-place position, with the other half of the "Barbenheimer" phenomenon taking in an estimated $18.8 million over the weekend. Last week "Oppenheimer" had been beaten by the Warner Bros. monster flick "Meg 2: The Trench," which fell to fourth this week with an estimated $12.7 million. The success of "Barbie" and "Oppenheimer" has come amid a backdrop of turmoil in Hollywood, as a historic double strike by writers and actors has brought productions to a halt. Both unions are renegotiating their collective contracts with studios to demand better pay, guarantees to limit the use of artificial intelligence, and other working conditions. While on strike, union rules prohibit actors from promoting their films, imperiling the marketing events for upcoming releases as talks show no end in sight. Third place this weekend went to Paramount's animated "Teenage Mutant Ninja Turtles: Mutant Mayhem," up one spot from the week before with $15.8 million. In its debut weekend, Universal's vampire film "The Last Voyage of the Demeter" took a frighteningly distant fifth place, at just $6.5 million. Based on Bram Stoker's classic "Dracula," the period film takes place on a doomed ship transporting the blood-sucker from his Eastern Europe home to England. "This is a weak opening for a horror film based on a chapter of the legendary Dracula story," said analyst David A. Gross. With poor reviews and an estimated budget of $45 million, the film is a "difficult sell under any conditions," he added. Rounding out the top 10 were: "Haunted Mansion" ($5.6 million) "Talk to Me" ($5.1 million) "Sound of Freedom" ($4.8 million) "Mission: Impossible - Dead Reckoning Part One" ($4.7 million) "Indiana Jones and the Dial of Destiny" ($900,000) The post ‘Barbie’ retains top spot at N. American box office for fourth week appeared first on Daily Tribune......»»
Protection, incentives for freelance workers pushed
Senator Christopher “Bong” Go has filed Senate Bill 2107, or the “Freelance Workers Protection Act”, which seeks to provide protection and incentives for freelance workers. The measure aims to recognize the rights of freelance workers and ensure that they are protected and adequately compensated for their services. In the explanatory note of the bill, Go highlighted that the number of Filipinos engaging in freelancing as a source of income has been increasing, particularly during the recent pandemic years. “Freelance workers contribute to the growth of our economy in just the same manner as other Filipino workers who are rendering their worthwhile service,” stated Go. However, due to the nature of their services, freelance workers frequently encounter issues like a lack of protection and non-payment for services rendered. “Though considered self-employed, they should also be subjected to the equal protection and entitlement given to other Filipino workers,” noted Go. Amid these issues, Go said that his proposed measure “can give Filipino freelance workers the right to demand payment for rendered services through any legal channel, impose penalties on dishonest hiring parties, and criminalize failure of compensating Filipino freelance workers.” Last Thursday, Go recognized the importance of Universal Health Care, particularly amid the ongoing Covid-19 pandemic, as he attended the opening ceremonies of the 49th Midyear Convention Surgery and Universal Health Care at the SMX Convention Center in SM Lanang Premier, Davao City. In his speech, Go likewise cited that the passage of the Universal Health Care Act in 2019 was a significant milestone in the country’s journey towards achieving a more equitable and comprehensive healthcare system. However, he also acknowledged that the implementation of the law is not without challenges. Meanwhile, In a bid to support the country’s young leaders, Senator Christopher “Bong” Go personally attended the 2023 Sangguniang Kabataan (SK) Congress - Davao Occidental Chapter at the Ritz Hotel in Davao City alsoThursday. In his speech, the senator took the opportunity to emphasize the importance of empowering the youth in shaping the nation’s future and highlighted the critical role that the SK plays in bridging the gap between the government and the youth. The post Protection, incentives for freelance workers pushed appeared first on Daily Tribune......»»
Bringing people gov’t services
The dry season has brought not only uncomfortably higher temperatures across our country but also a slew of “summer diseases” that range from sore eyes to skin conditions and heat stroke. These health problems are not trivial matters. Heat stroke, in particular, poses a significant threat, especially to our kababayans whose work requires them to stay under the blistering heat of the sun. Most of them are our fellow Filipinos in underserved areas who do not have access to electricity and worse, the health services that they need. Following our state weather bureau’s recent announcement that it may issue an El Niño alert by next month, all the more we must prioritize our health as we brace for warmer days ahead. This is why, we also continue striving to bring public healthcare services closer to our fellow Filipinos, especially the needy, the helpless, and the hopeless who have no one else to turn to but our government. Part of these initiatives are the Malasakit Centers and Super Health Centers which we initiated and continue to provide to communities in need. Each Malasakit Center serves as a one-stop shop for medical assistance from different government agencies. The Malasakit Centers Act of 2019, which I principally authored and sponsored, institutionalized the program. The program has so far helped over seven million particularly poor and indigent Filipinos through the 157 Malasakit Centers nationwide, according to the Department of Health. We have also been supportive of the establishment of Super Health Centers in areas identified by the DoH as the lead implementing agency. Through the collective efforts of fellow lawmakers, sufficient funds had been allocated for the construction of 307 Super Health Centers in 2022 and 322 in 2023. As chair of the Senate Committee on Health, I took the time last week to visit some of these Malasakit Centers and SHC in various parts of the country to check on their operations or the progress of their construction. On 17 April, we kicked off the week with a monitoring visit to the Malasakit Center at Roxas Memorial Provincial Hospital in Roxas City, Capiz where we also checked on the ongoing construction of the new building of the hospital which I supported for funding the previous years as Vice Chair of the Senate Committee on Finance. I likewise personally led the distribution of aid to 218 indigent patients and 666 front liners of the hospital while representatives from the Department of Social Welfare and Development provided financial assistance to the qualified patients and 59 utility workers. We attended the groundbreaking of the Super Health Centers in Panay and Panitan towns in Capiz where we also aided indigent residents from each town. We then proceeded to Bacolod City in Negros Occidental to visit another Malasakit Center at the Corazon Locsin Montelibano Memorial Regional Hospital where we aided 375 patients and 1,877 hospital front liners, including security guards, utilities, and other hospital staff. Indigent patients, 148 qualified security guards, and hospital utility workers also received financial assistance from the DSWD. In Bacolod City, we joined the Panaad Festival celebration and assisted 1,000 struggling residents. The following day in Cabanatuan City, Nueva Ecija, we witnessed the groundbreaking of the city’s Super Health Center and provided aid to 1,000 of its residents. A visit to the Malasakit Center at Dr. Paulino J. Garcia Memorial Research and Medical Center was meant to assess the continuing services to the public and aid 573 patients and 1,550 front liners. A team from the DSWD also extended financial assistance to the patients and 119 qualified hospital workers, including housekeeping and security guards. We witnessed the groundbreaking of the town’s Super Health Center in Umingan, Pangasinan on the same day, and helped 709 persons with disabilities. The inspections of other centers and aid distributions continued for the rest of the week. On 21 April, we flew to Samar where we inspected the SHC in Santa Margarita and assisted 1,000 town residents. In Calbayog, we aided 216 fire victims and 1,000 indigents. During our visit to the Girl Scouts of the Philippines in Camp Alano, Davao City, we expressed support for their endeavors in recognition of their role in women empowerment and nation-building. On 22 April, we conducted a monitoring visit to the Malasakit Center at Quirino Province Medical Center in Cabarroguis where we helped 101 patients and 830 front liners while the DSWD aided the patients and 317 qualified front liners. We joined the town’s 6th Quirino Motorismo. A total of 500 residents in Saguday, Quirino received aid before we inspected the ongoing construction of the SHC. My teams assisted 100 indigent families in Casiguran, 100 in San Luis, and 100 in Dipaculao, Aurora; 100 in La Paz, 200 in Talacogon,100 in Sibagat, 100 in Bayugan, 100 in Esperanza, 100 in Prosperidad, and 550 in Sta. Josefa and Trento, Agusan del Sur; 1,427 in Iba, Zambales; 33 in Sta Rita, Pampanga; 495 households affected by separate fire incidents in Cagayan de Oro City and Tagoloan, and 500 in Binuangan, Misamis Oriental; and 54 fire victims in Maramag, Valencia City, Malaybalay City and Manolo Fortich, Bukidnon. I was also honored to be able to attend the Philippine Councilors League — Quezon province chapter seminar in Davao City on 20 April, and the Liga ng mga Barangay sa Pilipinas-National Cluster Barangay Congress in Pasay City yesterday. Our jobs are no different from each other; we have the same mandate to serve our people. Local leaders are our partners in ensuring that their constituents are well supported to effect real positive change from the local to the national level. Amid the challenges we face, let not these trials beat and hinder us from doing our duties and reaching out to more of our struggling Filipinos in their times of need. Let us all strive to bring public services, particularly healthcare, closer to our people. The post Bringing people gov’t services appeared first on Daily Tribune......»»
US retailer Bed Bath & Beyond files for bankruptcy
Bed Bath & Beyond filed for bankruptcy Sunday, cementing a years-long decline that saw losses surpass a billion dollars annually as the US retailer struggled to adapt to an uncertain economy and the dominance of online shopping. The home goods chain filed voluntary petitions for relief under Chapter 11 at the United States Bankruptcy Court for the District of New Jersey, a court filing showed. The New Jersey-based retailer, the seller of everything from shower curtains and soaps to vacuum cleaners and duvet covers, for years, was a fixture on the Fortune 500 list of biggest American companies. It said in a statement it had sought bankruptcy protection "to implement an orderly wind-down of its businesses while conducting a limited marketing process to solicit interest in one or more sales of some or all of its assets." Bed Bath & Beyond shares dove in January as it warned of "substantial doubt about the Company's ability to continue as a going concern," a sign that was widely interpreted to mean it could file for bankruptcy. The company said at the time that it expected a loss of $386 million in the just-finished quarter. Despite several efforts to restructure -- including the closure in 2022 of 150 of its underperforming stores -- Bed Bath & Beyond was unable to turn its slumping finances around. It says it has secured a commitment of $240 million in debtor-in-possession financing from a lender to support its operations during bankruptcy. The company has listed both its estimated assets and estimated liabilities at between $1 billion and $10 billion, according to a court filing. Closing sales at the stores will start on Wednesday. "Thank you to all of our loyal customers," a banner on the company's website read Sunday. "We have made the difficult decision to begin winding down our operations." Chief Executive Officer Sue Gove said the company "will continue working diligently to maximize value for the benefit of all stakeholders." "Millions of customers have trusted us through the most important milestones in their lives -- from going to college to getting married, settling into a new home to having a baby," she said in the company statement. "We deeply appreciate our associates, customers, partners, and the communities we serve, and we remain steadfastly determined to serve them throughout this process." The company said its "360 Bed Bath & Beyond and 120 Buy Buy Baby stores and websites will remain open and continue serving customers as the Company begins its efforts to effectuate the closure of its retail locations." Last September, its chief financial officer Gustavo Arnal fell to his death from a New York skyscraper in what was ruled a suicide. No date has been set for the company's first debtors' hearing, it said. Bed Bath & Beyond, founded in 1971, grew to operate stores in all 50 US states plus Puerto Rico, Canada, and Mexico. As sales plummeted last year, the company struggled to maintain supply in its stores, and share prices tumbled. While competitors like Amazon and Target invested heavily in improving the online shopping experience in recent years, Bed Bath & Beyond labored at "evolving" its business and adapting, Richard McMahon, a former executive at the company who departed in 2015, told the New York Times. "The internet started to become real and consumer behavior was changing through that process," he added. The post US retailer Bed Bath & Beyond files for bankruptcy appeared first on Daily Tribune......»»
PAL’s Chapter 11 filing seen pushing through this month
Philippine Airlines filing for Chapter 11 bankruptcy protection in the US may push through this month as negotiations with its lessors continue ahead of the filing, according to travel data and analytics company Cirium......»»
PAL to seek court protection from creditors
Flag carrier Philippine Airlines may file for Chapter 11 bankruptcy protection in the US by the end of the month, according to travel data and analytics company Cirium......»»
Addressing mental health amid a pandemic
BETTER DAYS Senator Sonny Angara Mental health has historically been a difficult subject to talk about in Philippine society. Many of us, no doubt, have our own stories, personal or otherwise, of how difficult it is to seek help. In fact, in the journal Social Psychiatry and Psychiatric Epidemiology, an August, 2020, analysis of many studies on the matter confirmed that the low utilization of mental health services among Filipinos could be attributed in part to the stigma associated with mental health issues, with resilience and self-reliance becoming possible alternate coping strategies. Unfortunately, the COVID-19 pandemic has made mental health an even bigger issue. The quarantine, the economic effects of the pandemic, and the anxieties brought about by the virus’ unpredictability have had a negative effect on the mental health of many Filipinos. Although we as a country are consistently rated to be in the Top 5 of a global optimism index, according to the DOH, the calls for help have been increasing. According to the National Center for Mental Health (NCMH), their helpline received about 400 calls monthly from May, 2019, to February, 2020. That’s an average of 13 to 15 calls daily. By March, 672 calls were serviced, and this grew steadily in the following months, until there were 1,034 calls in July – and 440 for the half of August. These double the monthly average from March to August to 876 calls, or 32 to 37 calls daily. Many government and private mental health services are available for people who are seeking help or just someone to talk to. Aside from the NCMH crisis hotline, the Natasha Goulbourn Foundation has confidential crisis lines and a referral system to partnered psychologists. The foundation is also a hub for prevention, recognition, and treatment of depression. The Philippine Mental Health Association also offers similar services, and universities like UST, UP Diliman, and Ateneo de Manila have their own mental health service organizations. Some, like Ateneo’s Center for Family Ministries have affordable or negotiable fees. Online resources like the Silakbo.Ph website have listings for many other mental health service providers outside of the NCR. In fact, many organizations have already partnered with the Department of Health (DOH); perhaps more of them should be invited to the table to plan new policies, projects, and initiatives that will address the growing number of mental health cases. The DOH is also encouraging people to learn more about general mental health through free e-learning courses translated into Filipino. The source material is from the World Health Organization’s (WHO) QualityRights initiative, which is a global project that aims to help participants improve their own mental health, learn how to support their loved ones and communities, and gain knowledge and skills to tackle mental health issues. Clearly, we need to reassess and adapt to the fact that more Filipinos are now looking for mental health services and treatments. This is why I am seeking to amend Republic Act 11036, the Mental Health Act, particularly its existing chapter on “Rights of Service Users and Other Stakeholders.” Our proposed amendment seek to give health service users the right to immediately receive compensation benefits and special financial assistance they are entitled to under law, should they sustain temporary or permanent mental disability in the line of duty or by reason of a person’s office or position. This is an important amendment, as the Mental Health Act requires that PhilHealth provide insurance packages to patients with mental health conditions, and that access to medicines is ensured. With the observation of World Mental Health Day last October 10, it is important to remember the DOH’s theme for this year, “Mental Health for All: Unifying Voices for Greater Investment and Access.” This theme encourages that we open conversations on the various challenges that our mental health care system faces every day, such as social stigma and limited funding. In fact, the simple act of marking the day itself is important. It shows those who are suffering that we see them, and care for them. It tells others who are hiding their issues that it is perfectly normal to seek help. And most of all, it encourages the whole world to stand in solidarity in recognition of the need for all of society to help those with mental health issues. E-mail: sensonnyangara@yahoo.com| Facebook, Twitter & Instagram: @sonnyangara Senator Sonny Angara has been in public service for 16 years—9 years as Representative of the Lone District of Aurora, and 7 as Senator. He has authored and sponsored more than 200 laws. He is currently serving his second term in the Senate. .....»»
Iloilo SK prexy prioritizes youth s mental health during pandemic
ILOILO CITY, Aug. 5 (PIA) - The Sangguniang Kabataan Federation - Iloilo Chapter is prioritizing the mental health of the youth in their activities amid the coronavirus disease 2019 (COVID-19) pand.....»»
Reports of nurses quitting in Cebu City over pandemic worries group
CEBU CITY, Philippines — The Filipino Nurses United (FNU) Cebu City Chapter said that the reports of nurses resigning from public and private hospitals over the pandemic are alarming. In a statement, the FNU Cebu City said that hundreds of nurses were threatening to resign over the pressure of working amid the rise of the […] The post Reports of nurses quitting in Cebu City over pandemic worries group appeared first on Cebu Daily News......»»
Wendy’s, Pizza Hut file for bankruptcy
The largest franchisee in the US filed for bankruptcy. On Wednesday, NPC International, a company that owns and operates more than 1,200 Pizza Hut and nearly 400 Wendy’s restaurants, filed for Chapter 11 protection in the Texas Southern Bankruptcy Court. NPC has struggled financially in recent years, in large part because of the performance of […] The post Wendy’s, Pizza Hut file for bankruptcy appeared first on Daily Tribune......»»
Retailers Association in CamSur bounces back amid COVID-19 pandemic
NAGA CITY, June 23 (PIA) - Months of inaction for most of the businesses not just in Camarines Sur but also in most part of the globe means loss in profit and worst, bankruptcy.This prompted.....»»
US reaffirms support for Philippines sovereignty amid its tensions with China
Washington, DC [US], March 28 (ANI): US Secretary of Defence Llyod Austin has reaffirmed Washington's commitment to Manila in defending its sovereignty while criticising China's "dangerous" water cannon attack at the Philippine supply mission vessel on Saturday. In a telephonic conversation between Austin and his Philippine counterpart Gilberto Teodoro, the US Secretary reiterated the US-Philippines Mutual Defence Treaty.....»»