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Trial of disgraced crypto star Bankman-Fried begins
The trial of Sam Bankman-Fried, former CEO of one of cryptocurrency's biggest exchanges, began Tuesday with a jury set to determine if he committed massive fraud by stealing billions of dollars from clients. The 31-year-old -- once one of the most respected figures in crypto -- now faces decades in prison and could see his name stand alongside Bernie Madoff and Elizabeth Holmes as the era's most prominent fraudsters. The first day of the trial was devoted to jury selection for a case that is set to last about six weeks. Bankman-Fried faces seven counts including wire fraud, securities and commodities fraud, and money laundering. He risks more than 100 years behind bars if he is found guilty on all charges. Bankman-Fried entered the courtroom alone -- without being escorted by security guards -- uncuffed, and took his place alongside his lawyers, an AFP journalist observed. Dressed in a dark suit and striped tie, his usually long curly hair was cut short, reportedly by a fellow inmate at the Brooklyn jail where he is being detained. "You have the right to testify in your defense in this case. The decision is up to you," US District Judge Lewis Kaplan told Bankman Fried. In just a few years, the Massachusetts Institute of Technology graduate turned his FTX platform into the world's second-biggest crypto exchange, making him a tech world billionaire wunderkind. FTX became a global name through a marketing campaign that included celebrity partnerships with stars such as supermodel Gisele Bundchen and basketball legend Stephen Curry, and buying the naming rights for the home arena of the Miami Heat basketball club. Bankman-Fried also stepped in as a kind of savior of the industry when other crypto companies faced difficulties, with FTX swooping in to offer a financial lifeline. At the height of his career, Bankman-Fried was thought to be worth $26 billion as he attracted droves of small investors to invest in cryptocurrencies such as Bitcoin or Ethereum. But his steep rise was matched by his ignominious downfall, which saw him escorted last year by police from his luxury apartment in the Bahamas and extradited to face charges in the United States. 'Gambling at own casino' His empire began to crumble last November when a news report pointed to unhealthy ties between the FTX platform and Alameda Research, Bankman-Fried's personally owned-trading company. The revelations kept growing and major investors pulled their money out of FTX, sinking it swiftly into bankruptcy. Once the dust had settled, some $8.7 billion in client funds was still unaccounted for and Bankman-Fried was accused of using FTX deposits to buy luxury real estate or donate more than $100 million to US politicians through Alameda. "He was gambling in his own casino and it created conflicts of interest," Michael Lewis, an author who followed Bankman-Fried closely during the period, told CBS. Everything "unravels because the depositors at FTX want their money back and it's not all there," the author of "Liar's Poker" and other titles added. The climax of the trial is expected to be when his former friends and colleagues take the stand, including Carlonie Ellison, his one-time romantic partner and Alameda executive, and Gary Wang, his closest associate. Ellison and Wang have also been indicted in the case and agreed to cooperate with US authorities, which may prove Bankman-Fried's undoing. After his spectacular arrest in the Bahamas, Bankman-Fried was initially held under house arrest but was ordered behind bars in August over alleged attempts at witness intimidation. According to prosecutors, while holed up at his parents' home in California, Bankman-Fried spoke regularly to journalists and passed documents to The New York Times in an effort to influence the testimony of Ellison. The post Trial of disgraced crypto star Bankman-Fried begins appeared first on Daily Tribune......»»
Biden’s son Hunter to plead not guilty to gun charges
US President Joe Biden's son Hunter will plead not guilty to charges of illegally buying a gun when he was using drugs, his lawyer said Tuesday. Hunter Biden, 53, was charged last week with two counts of making false statements when claiming on forms required for a 2018 gun purchase that he was not using drugs illegally at the time. On Tuesday, Hunter Biden's lawyer, Abbe David Lowell, asked the judge presiding over the case in the eastern state of Delaware to hold the first court appearance by video conference instead of requiring his client to attend in person. Hunter Biden currently lives in California. "Mr. Biden understands both the charges against him and his rights... and we believe the Court can be assured of that fact by conducting this initial appearance by video," Lowell said in the letter to US Magistrate Judge Christopher Burke. "Mr. Biden also will enter a plea of not guilty, and there is no reason why he cannot utter those two words by video conference," Lowell said. "Mr. Biden is not seeking any special treatment in making this request," he added. "He has attended and will attend any proceedings in which his physical appearance is required." Hunter Biden is also facing a third charge, based on the same statements, that he illegally possessed the gun during an 11-day period in October 2018. If convicted on all three felony charges, he could face 25 years in prison, though in practice the offenses are seldom punished by any jail time. The indictment came two days after Republicans in Congress opened an impeachment probe against Joe Biden, a Democrat, alleging that when the elder Biden was vice president he benefited financially from his son's foreign business dealings. They alleged, without offering hard evidence, that while vice president in 2015-2016, Biden intervened to protect an allegedly corrupt Ukrainian energy company, Burisma, where Hunter Biden sat on the board. The gun charges against Hunter Biden were filed by Justice Department special counsel David Weiss, who has been investigating him since 2018 over various allegations, mostly related to his overseas business deals. A plea deal between Hunter Biden and Weiss, covering the gun charge as well as alleged tax violations, collapsed two months ago. Hunter Biden is a Yale-trained lawyer and lobbyist-turned-artist, but his life has been marred by alcoholism and crack cocaine addiction and his indictment has cast a shadow over his father's campaign for reelection next year. The post Biden’s son Hunter to plead not guilty to gun charges appeared first on Daily Tribune......»»
Nina Lim-Yuson — A lifetime of girl scouting
The president of the Girl Scouts of the Philippines, Nina Lim-Yuson, grew up in a family and home of Girl Scouts. Her grandmother, Pilar Hidalgo-Lim, was one of the co-founders of the GSP. “It was actually my Lola Pilar who suggested to Josefa Llanes Escoda, the GSP founder, to go to America to learn about girl scouting.” This tidbit of history, Nina shared in an online interview with the DAILY TRIBUNE. Pilar Hidalgo-Lim became GSP president, and so did Nina’s mother, Estefania Aldaba-Lim, who served as secretary of the Department of Social Welfare and Development. Nina’s sister too, the eminent broadcast journalist, Cheche Lazaro, was a Girl Scout. Coming from a lineage of women achievers, Nina could not have chosen a different path. It was scouting that formally introduced the family to social responsibility, skills development and citizenship. Her brothers were also Boy Scouts. “I started when I was six years old and it was my Lola Pilar who inducted me as a Brownie. It used to be called Brownie because we were still using the American pattern,” she related. She belonged to Troop Number One, the first to be organized by the GSP national headquarters. In high school at the Jose Abad Santos Memorial School of the Philippine Women’s University, she became a junior and later a senior Girl Scout. College would briefly end her Girl Scouting as she focused on her studies. Along the way, she also danced with the Bayanihan Folk Dance Company. It was not unexpected that she would return to scouting, her first love, and her first extra-curricular activity. For the last 36 years, she has been active in various organizations and volunteer work. She founded the Museong Pambata. She is a recipient of The Outstanding Women in the Nation’s Service and is active in its various social development efforts. What Nina brings to her post is the legacy of leadership that had been passed on to her through generations of women leaders in the family. “My Lola Pilar was my idol. She was such a nice person and I never knew her totally as a president. I knew her more as a loving lola from all the stories she related when we rode up to Baguio. “My mother, on the other hand, was the opposite. She was very career-minded. I learned naman from her a lot of things, like being thrifty and having a list of things to do. In terms of organization, she was like that. Because she was in government. And, you know, when we started Museo, while it was actually my concept, I learned a lot from her. She would call me up at 5 o’clock in the morning and she would rattle off what needed to be done, like ‘number one, number two and so on.’ That was her. And I’m glad that I worked with her for six years in Museo. She was the president and I was the executive director for six years. I took over in 2000 as president and chief executive officer. And then, I stepped down in 2017.” Girl Scouts who read and tell stories Nina was elected president of the Girl Scouts of the Philippines for the term 2021-2024 during its 2021 national convention. From day one, she shared, “My purpose was to reach out to the community-based troops because we have always been school-based. Many young women now have social problems so we need to reach out to the communities through our community-based troops.” Also on top of her priorities is literacy development, a cause that she addressed even in the Museo Pambata. She explained, “My advocacy has always been education. So, I was very concerned because the Asian Development Bank reported in 2022 that the World Bank found out that our Filipino children at ages 9 and 10 cannot read. So, I felt that because girl scouting is all over the country, with 96 local councils, the organization could serve as a vehicle for improving literacy in our country. “We started the Girl Scout Storyteller project because storytelling affects the heart first before the mind. When young people start with storytelling, they will love the stories and then the written word. They would then want to read. “We now have storytelling in economically challenged communities and we have partners. We sent out 2,500 books throughout the country with the help of our partner couriers.” Initially, she sought the help of her family foundation “to give a donation. I also sought the help of Ging Montinola, who is into literacy development. Together, we founded the literacy program. We are building this fund to cover the cost of buying children’s books. We will have a storytelling contest next year.” Raising funds for Camp Escoda Nina then shifted the conversation to another major endeavor that she is spearheading as GSP president — fundraising for the 27-hectare Camp Josefa Llanes Escoda in Palayan City, Nueva Ecija, which was donated by the provincial government during the term of Governor Amado Aleta, the father of consul and civic leader Fortune Ledesma. “Palayan is beautiful because it has rolling hills, but it doesn’t have electrical and water facilities and roadworks. It doesn’t have a swimming pool, and it’s so hot in Nueva Ecija. It also does not have a conference hall. This is a big one-time fundraising project because it’s for the future of the girls who are going to the camp. Because as of now, if you go camping there, you have to walk up the hills to get your drinking water. You have to make buhos to take a bath.” She recalled, “In my time as a young Girl Scout, which was of another era, we had to walk in the dark to fetch water to fill up two drums. I was so scared because there were tuko in Los Baños. That taught me to be courageous. Camps really build up your lifetime skills and attitude. Camping is very integral in girl scouting and boy scouting. So, this camp will serve a purpose. It just needs various basic facilities to make it world-class and convenient with the proper amenities, but the girls will continue to learn all those survival techniques and appreciate nature right on the camp.” She praised architect Pippo Carunungan, “who is an environmental planner. He surveyed the site and drew up everything. It will be a beautiful camp, he said, because it’s a gift of nature.” First Lady as Chief Girl Scout Nina recently led the Girl Scouts in a fundraising ball attended by the “First Lady, Liza Araneta-Marcos, who is our Chief Girl Scout. It’s mandated in the GSP constitution that whoever is the female president of the country or the First Lady is the Chief Girl Scout. In the past, we had Imelda Marcos, Gloria Macapagal Arroyo. All the first ladies were all Chief Girl Scouts. “Mrs. Liza Marcos spoke before us and she promised to help. She said, ‘We will make it the best campsite.’ Everyone was excited to see her and she obliged everyone who asked to have selfie with her. She is very friendly. She is really a Girl Scout.” Nina shared, “A generous couple is sponsoring the swimming pool at P6 million, while a gentleman entrepreneur is sponsoring the perimeter fence at P1.5 million. Many other businessmen and leaders have pledged to help build this dream GSP project. “We really need to raise about 50 million to have a very good camp. But when the First Lady heard about it, she said, ‘It has to be P250 million.’ But, really, when we have the funds, we can have deep toilets that have running water instead of tabo-tabo. Since we have a little Pampanga river that runs across the camp, we can build a bridge that crosses it and then the girls can have white-water rafting there in the Pampanga river. “Camp Escoda will be a very important and significant venue for our Girl Scouts to gather, bond, learn new skills and develop as morally upright citizens of the country and the world. It is especially so because camping is integral in any Girl Scout’s life. If you don’t have camping, it’s like half of your scouting life is missing. Every Girl Scout remembers that time of her youth. And being the national camp, it will welcome Girl Scouts representing the 96 councils from Luzon, Visayas and Mindanao who will participate in various events and trainings.” Girl Scouts of all ages As GSP president, Nina travels to various parts of the country. “We have regional conferences aside from the meeting of the Central Board when regional heads and executives come to Manila. “I had just come from Baguio where I stayed for two-and-a-half days. I met our young Girl Scout representatives from ages 14 to 18. I enjoyed listening to them and exchanging ideas with them. I am so happy that we have a wealth of intelligent girls who want to serve the country. They are the ones who are going to take over. “It’s amazing that GSP is no longer limited to old people on the board. We finally have young ones on the board. Our Escoda committee is headed by Jade Delgado from Iloilo. Then we have Justine Bautista. She’s a psychometrician. She heads the Program Committee, which is a big committee because when we were in Baguio, we had 86 girls from all the councils throughout the country. Many of them are running for SK. “So, in my 70s now, which I don’t feel at all, I don’t take any medicines or something like that. Being with young people is what inspires me. Because at 15, 16 or 17, they already know that they have some kind of a mission.” Nina proudly shared that the venue of the Baguio conference, 'Ating Tahanan' on the South Drive was bought during the tenure of my Lola Pilar. We have four buildings there, including the houses of Senator and actor Rogelio de la Rosa and Carlos Valdes, the accountant. Lola Pilar, according to Carlos Valdes, twisted his arm to get a low price. I’m so thankful for all those who preceded me because they bought these places. It’s on South Drive which is so valuable. We even have a reserved forest behind us.” As she looks forward to the next camping and gets even busier raising funds for Camp Escoda, Nina feels elated that “every one of us in the Girl Scouts has been together in our various undertakings. The nice thing is we are now intergenerational because we try to bring in the old with experience, institutional memory and their wisdom born of their long life, and the young who are full of enthusiasm, energy and new ideas.” A star scout for a granddaughter While Nina does her part for the bright future of girl scouting in the country, her personal family too has not stopped contributing to the roster of members to this worldwide organization. Today, a granddaughter of hers, seven-year-old Rocio Yuson de Guzman, is a Star Scout. She is the daughter of Nina’s daughter, Nicky. No grandmother could have been prouder. Nina said, “Rufio loves being a star scout. When I arrived from the recent world conference in Cyprus, I came back with some badges and I gave some to Rufio who is very proud of the little badges that I got for her.” For sure, Nina will pass on not just the badges to Rufio. More importantly, she will give her granddaughter the once-in-one’s-childhood experience of being a Girl Scout and learning “the values that are identified in the Girl Scout Promise and Laws. I think that while there is so much to enjoy and learn, it is the inculcation of these values that would mold her into a well-rounded human being. As we all know, a Girl Scout’s honor is to be trusted. A Girl Scout is loyal, thrifty, courteous… and so on. It’s like a mantra -- the values that one lives by. “I have reached that point when it is not about success or what one accumulates in life, whether awards or accomplishments or material things. It is more about what I can share and scouting gives me that honor and privilege — to do my part in helping mold our young girls and making them aware even at an early age that they have a mission and worthy purpose in life. It is not just about being good and outstanding on your own but it is also about helping others to become better in what they’re doing and live better lives. “And I need not look far. As a grandmother, I dote on my Star Scout granddaughter, Rufio. There’s a world out there for her to discover and in which she has a role to play and use the skills and values she will learn from scouting.” The post Nina Lim-Yuson — A lifetime of girl scouting appeared first on Daily Tribune......»»
Biden’s son Hunter indicted on gun charges
US President Joe Biden's son Hunter was indicted Thursday for illegally buying a gun when he was using drugs, casting a new shadow over his father's campaign for reelection next year. Hunter Biden, 53, was charged with two counts of making false statements when claiming on forms required for the 2018 gun purchase that he was not using drugs illegally at the time. A third charge said that, based on the false statements, he illegally possessed the gun during an 11-day period in October that year. If convicted on all three felony charges, Biden could in theory face 25 years in prison, though in practice they are seldom punished by any jail time. In attesting that he was not an unlawful user of drugs when he bought the Colt Cobra revolver, Biden "knew that statement was false," the Justice Department said. The indictment came two days after Republicans in Congress opened an impeachment probe against Democrat Joe Biden, alleging that when he was vice president he benefitted financially from his son's foreign business dealings. The legal troubles of Hunter Biden present a target for political rivals of his father, who is bidding for a second term in the White House. Hunter is a Yale-trained lawyer and lobbyist-turned-artist, but his life has been marred by alcoholism and crack cocaine addiction. Without offering any evidence, Republicans have accused Biden's Justice Department of protecting his son and have accused Weiss, a Republican appointee, of going easy on Hunter. Representative James Comer, a Republican from Kentucky who will be leading the impeachment inquiry, welcomed the filing of the gun charges, calling it a "very small start." "Mountains of evidence reveals that Hunter Biden likely committed several felonies and Americans expect the Justice Department to apply the law equally," Comer said. Twice-impeached former president Donald Trump reacted on his Truth Social platform. "This, the gun charge, is the only crime that Hunter Biden committed that does not implicate Crooked Joe Biden," he said. - Plea deal collapsed - But a leading Democrat, Keisha Lance Bottoms, ex-mayor of Atlanta and a former senior adviser to Joe Biden, questioned why Hunter had been charged. "Can anyone tell me how many people have been federally indicted for purchasing a gun while dealing with substance abuse issues?" Bottoms said on X, formerly known as Twitter. "I don't know the answer, but in my over 29 years as an attorney, I have never heard of it." The gun charges were filed by Justice Department special counsel David Weiss, who has been investigating Hunter Biden since 2018 over various allegations, mostly related to his overseas business deals. Two months ago a plea deal between Biden and Weiss, covering the gun charge as well as alleged tax violations, went sour. Biden agreed to plead guilty in federal court in Delaware to two minor tax charges. In exchange he was offered probation, as he had already paid what he owed the government along with penalties. Weiss agreed to suspend the felony gun charge if Biden completed "pretrial diversion," which often involves counseling or rehabilitation. But in a dramatic July 26 hearing, the deal collapsed over whether Biden would have been immune from any other charges also investigated by Weiss, including possible crimes related to his business dealings in Ukraine, China and elsewhere. The judge mentioned the possibility that Biden could be charged as having acted as a lobbyist for foreign governments without registering with the Justice Department. Three weeks later, after the deal collapsed, Weiss dropped the tax charges and said an indictment on the gun charge would come by the end of September. As the 2024 election race swings into gear, Republicans in the House of Representatives on Tuesday formally opened an impeachment inquiry against President Biden. They alleged, without offering hard evidence, that while vice president in 2015-2016, Biden intervened to protect an allegedly corrupt Ukrainian energy company, Burisma, where Hunter Biden sat on the board. Republicans allege Joe Biden and his family reaped large sums for helping Burisma. The post Biden’s son Hunter indicted on gun charges appeared first on Daily Tribune......»»
GSIS buys up 12% MPIC stake
State pension fund Government Service Insurance System, or GSIS, has accumulated shares in diversified Metro Pacific Investments Corp,, or MPIC, the flagship company of tycoon Manny V. Pangilinan which is up for bourse delisting. The state financial institution led by veteran investment banker Wick Veloso has amassed the MPI shares the past two weeks, buying a total of 2.5 billion shares from 23 August to 4 September. In a report to the stock market, MPIC said it received a letter from GSIS dated 4 September informing the company that from 23 August to 4 September, GSIS purchased 2,490,509,574 common shares of MPIC. GSIS also mentioned that as a result of these purchases, GSIS now owns 3,438,549,038 common shares which represents approximately 11.98 percent of the total outstanding common shares of MPIC. Strong challenge Analysts said the GSIS move poses a challenge to the MPIC proposal to leave the stock exchange. COL Financial research head April Lynn Tan said that with the purchases, MPIC share owners may not attain its target to acquire 95 percent of the company which is pivotal to the delisting plan. MPIC chairman and chief executive Manuel Pangilinan on Monday expressed hope the consortium would secure enough shares to push through with the plan. “The tender period will expire on 7 September, so let’s wait. We are hopeful that the amount of shares will translate to qualification for delisting,” Pangilinan said. In a social media post, Tan said the delisting option can still pull thorugh. “According to industry peers, there is still a chance that the delisting will push through. Since GSIS now owns 12 percent (more or less) it might not be counted in the public float based on PSE proposed amendments. This means that the tender offer might proceed if over 14.58 percent of share owners tender their shares,” she added. The post GSIS buys up 12% MPIC stake appeared first on Daily Tribune......»»
Taylor Swift announces film of massive ‘Eras’ tour
Didn't score tickets for Taylor Swift's "Eras" tour? Never fear -- the culturally defining juggernaut will hit movie theaters with a concert film released on 13 October. "The Eras Tour has been the most meaningful, electric experience of my life so far and I'm overjoyed to tell you that it'll be coming to the big screen soon," Swift said on social media Thursday. "Eras attire, friendship bracelets, singing, and dancing encouraged." The giant AMC movie chain is vowing that each of its theaters across the United States will play the film at least four times a day on Thursdays, Fridays, Saturdays, and Sundays. Tickets are on sale now. The company said it had upgraded its website and ticketing services to "handle more than five times the largest influx of ticket-buying traffic the Company has ever experienced before." "But AMC is also aware that no ticketing system in history seems to have been able to accommodate the soaring demand from Taylor Swift fans," the statement added, warning that customers may experience delays and outages. Earlier this year botched sales for Swift's wildly popular tour wreaked havoc, prompting a congressional hearing over Ticketmaster's purported anti-competitive practices. And while "Eras" tickets reached thousands of dollars, fans will be able to nab movie viewings at $19.89 for adults, $13.13 for children and seniors, plus tax. As of Thursday morning, the website for AMC showed that opening weekend tickets in the New York area was already close to selling out. A few hours after Swift's announcement, the release of Universal's sequel to the horror classic "The Exorcist" was pushed up a week to avoid clashing with the concert film. "Look what you made me do. The Exorcist: Believer moves to 10/6/23 #TaylorWins," producer Jason Blum posted on X, the platform formerly known as Twitter. The 33-year-old Swift wrapped the North American leg of her global tour with four shows in Mexico and will pick back up in Argentina in November, with plans to tour into the end of 2024. With 146 total stadium dates, it is expected she will set the record for the first billion-dollar tour, with trade publication Pollstar estimating she's selling some $14 million in tickets per show. Swift's team does not report box office numbers. The current record-holder is Elton John, whose "Farewell Yellow Brick Road" tour, which began in 2018, ultimately made $939 million. The post Taylor Swift announces film of massive ‘Eras’ tour appeared first on Daily Tribune......»»
Skating out of stress, to feel free
Since the first patent for a roller skate was awarded in 1819 to a certain M. Petibled of Paris, roller skating has gone through a lot of development before evolving into what we know it now as a recreational and competitive sport. While sports such as speed skating, hockey and figure skating have been institutionalized, recreational roller skating has had its time in the spotlight over the years. Then Covid-19 happened in early 2020, and roller skating became popular again as a solo activity. Its resurgence continues post-pandemic for fitness and just for fun. [caption id="attachment_175690" align="aligncenter" width="525"] Skating is good for fitness. | Photographs Courtesy of Chai Timbungco[/caption] Skating to destress Sesilya Rosario Timbungco, nicknamed Chai, started skating using inline skates (meaning the wheels are in a straight line) with her older cousins when she was around seven years old. Then she studied figure skating for two years, starting at age nine, before moving on to other things. In 2020, she picked up inlines again because “ironically, it was safer to be out on the streets because there were almost zero cars” at the height of community lockdowns and social restrictions. “What I like about skating is that it makes me feel good about myself,” she tells DAILY TRIBUNE in an online interview. “It’s also an outlet for me because it allows me to physically destress. From a technical standpoint, I like skating because of the diverse disciplines under its umbrella -- ice skating, dance skating, derby, quad hockey, speed, park, vert, etc.” The 31-year-old skater, who works as an insights community manager at a software company adds, “Skating is good for fitness because it involves the coordination of your entire body, even if it doesn’t seem like it. It’s all about balance, especially when learning your edges! Once you nail the basics, you pretty much won’t forget how to do it — just like riding a bike.” “It’s a good fitness option, but like with all other sports, make sure it is safe for you,” she points out. “Generally, skating is for everyone. But if you have balance issues, are pregnant or have bad hip mobility, it’s best to consult your doctor.” Chai makes it clear that skating is a sport, even if you do it recreationally or as a hobby. “So there will be maintenance expenses,” she says. “If you don’t get any upgrades and sticks with a decent pair, maintenance won’t be that expensive. A good entry-level pair costs around P5,000 to P8,000. There are many other factors to consider, but that’s the base price for entry-level skates.” These days, she usually skates at the basketball court at their home, though she really misses skating outdoors. She considers Bonifacio Global City as one of the friendlier spaces for skating. If she has to go to the rink, she says she only goes to Rolyo Sk8house at the Circuit Makati. Chai is also a co-founder of the Everywhere We Skate PH community on Facebook, whose goal is to “help raise awareness about local roller skating and make skating accessible in all ways, little ways, that we can,” while “bringing in roller skating brands into the local scene.” Chai’s tips in buying your first pair of skates: Measure your feet. Measure in inches and in centimeters. Never ever correlate shoe size with skate size. Skates have to be snug, but not tight. If you’re in between sizes, always choose the bigger size. There will be workarounds to a slightly loose boot, but it’s impossible for you to use skates that are too small Buy good brands, even if it means buying them second hand. That doesn’t mean branded is always good, nope. Make sure you research before buying anything! There are reputable brands that make nice skates that are good enough as second-hands. If that isn’t an option, make sure you buy skates that are within your current skill level. For example, buying an advanced boot is not the best for a beginner who doesn’t have proper foundation yet. Try them out at the rink first (if you can) before deciding on a big purchase like our own skates. Make sure you learn how to read wheel hardness (it’s not hard), as well as the other components of your skates. Other than looking up what to buy, also learn about maintenance and how to make normal adjustments to your skate. When skating for the first time, Chai recommends doing these steps: Bend your knees. “I can’t stress this enough, but bend your knees,” she says emphatically. “It’ll save you from potential nasty falls!” Wear gear. Avoid slopes. “It’s a common misconception that slopes are good for beginners because they’ll help you roll faster. That’s true, but that’s why it’s dangerous for someone who doesn’t know how to stop yet.” Feeling of freedom Roller skating was likewise a childhood hobby for Raqs Regalado, a 39-year-old event manager and costume designer. “But it was during the pandemic that I fell back into it,” she says in another online interview, “Because I found my old pair of skates (that I got at a Japanese thrift shop back in college) while we were trying to Marie Kondo our place during the first few weeks of the lockdown.” Post-pandemic, Raqs can usually be found skating at the Bike Playground or at other indoor rinks around the Metro, and for outdoor skating, at BGC. “What I like about it most is the feeling of freedom it gives me and the friends I’ve made in this hobby,” she points out. “It’s good for fitness because it activates muscles you never even knew existed. Like it’s a whole different muscle group working when you skate.” “There are cheap, generic ones but cheap skates also mean cheaper materials were used,” she adds. “Skates manufactured by bigger, skate-focused brands will always be more expensive than the generic ones, but I think of it as investing on the quality of skates you’re getting. Your safety depends on it.” Raqs truly believes that everybody can skate. “But I wouldn’t force it on someone who does not want to. You have to at least be interested to try it and eventually find happiness in it. Once you find joy in skating, that’s when you start wanting to learn more.” She has found her kindred spirits on Everywhere We Skate PH when it was founded in 2020: “Chai reached out to me and told me about the online skating community they’ve build. Of course, I instantly joined. There were only about 50 members that time. A few months in, and they asked me to be one of the group admins. Now, we have over 10,000 members. We welcome skaters of all levels and skate enthusiasts. Our main goal is to have a safe space for healthy exchanges of skate-related information.” Raqs’ tips in buying your first pair of skates: Assuming that you’ve already tried rental skates at the public rink, and you really liked it and want to get into skating, then start doing your research on the particular skates that have aesthetically caught your attention. Check for materials used, reviews and after-sales services. If you can also determine what type of skating you want to immerse yourself in (such as outdoor cruising, aggressive skating, artistic skating, etc.), that would also be very helpful in choosing your first pair of skates. If you’re skating for the first time, Raqs has these suggestions for you to do: Get safety gear. Watch video tutorials on how to fall safely because knowing how to do so can save you from serious injuries. Remember: You may fall a lot specially as a beginner, but don’t worry, it happens to all of us. The post Skating out of stress, to feel free appeared first on Daily Tribune......»»
Japanese turn to wearable tech to beat the heat
Selling jackets with built-in fans, neck coolers and T-shirts that feel cold, Japanese firms are tapping into a growing market for products to help people handle the summer heat. Japan -- like other countries -- is seeing ever-hotter summers. This July was the warmest in 100 years, with at least 53 people dying of heatstroke and almost 50,000 needing emergency medical attention. Workman, which makes clothes for construction workers, launched a version of their fan-fitted jackets adapted for the high street in 2020 as demand grew. The mechanism is simple -- two electric, palm-sized fans powered by a rechargeable battery are fitted into the back of the jacket. They draw in air to then deliver a breeze -- at variable speeds -- onto the wearer's body. The jackets retail for 12,000 to 24,000 yen ($82-164). "As the weather gets hotter, people who have never worn fan-equipped clothing before want to find ways to cool down... so more people are interested in buying it," Workman spokesman Yuya Suzuki told AFP. "Just like you feel cool when you are at home with a fan, you feel cool just by wearing (the jacket) because the wind is blowing through your body all the time," he said. Aging population at risk Japanese summers are known to be hot and humid, but this July Tokyo really sweated. The average temperature was 28.7 Celsius (83.7 Fahrenheit), the highest on record since 1875. Heatstroke is particularly deadly in Japan, which has the second-oldest population in the world after Monaco. More than 80 percent of heat-related deaths in the past five years have been among senior citizens. "Some people die from heatstroke," said Nozomi Takai of MI Creations, a company selling neck-cooling tubes mainly to factory and warehouse workers. "Individuals as well as companies are putting more and more effort into measures against it every year," Takai said. The gel inside his firm's brightly colored tubes -- priced at 2,500 yen -- is cool enough to use after 20 minutes in the fridge. Wearing it on the neck will "considerably cool the whole body" for about an hour, she said. Takai's company joined an expo this year on "measures against extreme heat" in Tokyo to showcase new products that help users stay cool in the scorching heat. At another booth, Tokyo-based company Liberta had a series of clothing including T-shirts and arm sleeves using prints that make users feel cool -- especially when they sweat. The prints use materials such as xylitol that feel cool when reacting with water and sweat, they said. Chikuma, an Osaka-based company, has even created office jackets and dresses equipped with electric fans. "We developed them with the idea that it could be proposed in places where casual wear is not allowed," Yosuke Yamanaka of Chikuma said. Regular fan-fitted clothes can make the wearer look puffy, as they need to be zipped up, and cuffs are tight. But jackets developed jointly by Chikuma, power tool maker Makita and textile giant Teijin do not need to be buttoned up, thanks to a special structure that sandwiches the fans in two layers and keeps the cool air in, Yamanaka said. Men adopting parasols Parasols, which are commonly associated in Japan with skin-tone-conscious women protecting against a summer tan, are now proving more popular with men too. Komiyama Shoten, a small, luxury umbrella maker in Tokyo, began making parasols for men around 2019 after the environment ministry encouraged people to use them. Before, many male customers thought parasols "were for women and they were embarrassed", the owner Hiroyuki Komiya said. "Once you use it, you can't let go," he added. On the busy streets of popular tourist destination Asakusa, Kiyoshi Miya, 42, said he decided to "use his umbrella as a parasol". "It's like I'm always in the shade and the wind feels cool," he said. Another visitor, Shoma Kawashima, wore a wearable fan around his neck to stay cool under the blazing sun. "It's so hot I want to be naked," the 21-year-old said. Gadgets are helpful, but "not a solution" to rising temperatures, he added. The post Japanese turn to wearable tech to beat the heat appeared first on Daily Tribune......»»
Filipino farmers reaping benefits from high palay prices, fears of global shortage
Agriculture Undersecretary Leo Sebastian of the Rice Industry Development on Monday said Filipino farmers are benefitting from global fears of a rice shortage, resulting from the possible adverse impacts of the El Niño phenomenon, which would force world suppliers to tighten supplies in the world market. “For the longest time, Filipino farmers have always been at the losing end of the rice sector. But now, Filipino rice farmers are enjoying better prices from their recent harvests, perhaps sparked by global fears of a shortage resulting from the adverse impact of El Niño forcing world suppliers to tighten supply in the world market,” Sebastian said. Data from the National Rice Program of the Department of Agriculture showed palay prices in March 2023 rose to P17.69 a kilo for fresh and P19.73 for dry, compared to the same month last year, when palay prices were P15.99 for fresh and P18.41 for dry palay. In April 2023, the price of fresh palay was P17.66 per kilo and dry palay was P20.38, while in April 2022, the prices were P15.57 for fresh and P17.95 for dry. The highest posted palay price was in Central Luzon at P22 for fresh palay and P25 for dry, the DA-NRP data showed. The DA Regional Field Office 3 covering Nueva Ecija, which is the rice granary of the country, reported that palay prices in April 2023 were at P20.46 for dry palay and P17.64 for fresh. These prices are higher compared to the April 2022 rates, which were aP18.20 for dry palay and P15.67 for newly harvested grains. In addition, the DA Regional Field Office 2, which covers Isabela, another major rice-producing province in Luzon, showed the prices of palay in March 2022 were P18.48 for dry and P15.1 for fresh. For March 2023, palay prices in the Cagayan Valley region were P20.47 for dry and P16.52 for fresh palay. A Separate data from the Philippine Rice Industry Stakeholders Movement (PRISM), comprising of rice millers and palay traders, showed both fresh and dry palay prices for the 2023 dry season: Isabela, P18.50 (fresh) and P22.50 (dry); Nueva Ecija, P19.50 and P23.50; Bulacan, P20 and P24; Tarlac and Pangasinan, P18.50 and P22.50; Mindoro, P19 and P23; Leyte, P17.50 and P21.50; Caraga, P19 and P23; Iloilo, P18 and P22; and Davao, P19.40 and P23.40. According to Joseph Fajardo of the Occidental Mindoro-based Tao Foods Co., his company has been buying palay at very high prices since 2022 from its clustered farmers. Mindoro is one of the provinces where palay prices are at the lowest. Starting as a seed supplier in Sablayan, Mindoro, in 2022, Tao Foods is now into value chain operations, seeds, credit, and technical support and has been carrying out a buy-back scheme. Last March and April, the company bought fresh single palay variety with 77 percent milling recovery at P19 to P20 for every kilo. Monitoring done by the Philippine Rice Information System showed that average dry palay prices were at P18.3 a kilo from January to June last year and P19.5 per kilo for the same period this year. For fresh palay, prices for January to June 2022 were at P15.9 a kilo and P17.4 for the same period this year, said Darlynne Kaye B. Matias, PRISM Field Operations-Lead/Senior Research Specialist II of PhilRice Isabela. The post Filipino farmers reaping benefits from high palay prices, fears of global shortage appeared first on Daily Tribune......»»
Former Twitter exec says a mercurial Musk rules by ‘gut’
A fired Twitter product manager said Elon Musk ran the company newly renamed X by instinct not data, surrounded by sycophants with his mood changing unpredictably. Esther Crawford, whose picture sleeping in a Twitter office late last year made her a viral sensation, shared her thoughts on Wednesday in a lengthy post at X. "I disagree with many of his decisions and am surprised by his willingness to burn so much down, but with enough money and time, something new and innovative may emerge," Crawford said in the post. Crawford joined Twitter when it bought her startup in 2020, before Musk bought the social media platform for $44 billion. "In person Elon is oddly charming and he's genuinely funny," Crawford said. "The challenge is his personality and demeanor can turn on a dime going from excited to angry." Twitter employees feared being called into meetings with him or having to deliver negative news, according to Crawford. "At times it felt like the inner circle was too zealous and fanatical in their unwavering support of everything he said," Crawford wrote. "Product and business decisions were nearly always the result of him following his gut instinct, and he didn't seem compelled to seek out or rely on a lot of data or expertise to inform it." Musk seemed to trust random feedback and Twitter polls more than employees working to solve problems at the company, according to Crawford. "His boldness, passion and storytelling is inspiring, but his lack of process and empathy is painful." Musk has proven success tackling engineering problems, but a social networking platform requires emotional intelligence, Crawford said. She did not spare the previous management, calling it "bloated" and "soft and entitled" where "teams could spend months building a feature and then some last-minute kerfuffle meant it'd get killed for being too risky." Musk killed off the Twitter logo this week, replacing the world-recognized blue bird with a white X. After buying Twitter, Musk had said that he wanted to create a super-app inspired by China's WeChat, which would function as a social media platform and offer messaging and payments. Since Musk bought Twitter last October, the platform's advertising business has collapsed as marketers soured on Musk's management style and mass firings at the company that gutted content moderation. In response, the billionaire has moved toward building a subscriber base and pay model in a search for new revenue. Many users and advertisers alike have responded adversely to the social media site's new charges for previously free services, its changes to content moderation, and the return of previously banned right-wing accounts. The post Former Twitter exec says a mercurial Musk rules by ‘gut’ appeared first on Daily Tribune......»»
‘Queen Bee’ tagged top smuggler
Justice Secretary Jesus Crispin “Boying” Remulla yesterday said officials of the Department of Agriculture and the Bureau of Customs have a lot of explaining to do concerning the rampant smuggling of onions and garlic into the country. “We demand an explanation from the BoC and the DA regarding these developments,” Remulla said, alluding to what he described as the apparent total control onion and garlic smugglers have over the commodities’ supply chain. In his second State of the Nation Address last Monday, Marcos vowed to stop hoarders and smugglers dead in their tracks, saying “their days are numbered.” Remulla said smugglers have been buying up the harvest of local farmers to influence supply and demand and, consequently, command higher prices for onions and garlic when they release them into the market. Smugglers, he added, have been hoarding the commodities and keeping them in cold storage to create artificial shortages. If true, the activities cited by Remulla would be a violation of Republic Act 10845, which classifies large-scale agricultural smuggling as economic sabotage punishable by life imprisonment. “Smugglers have essentially taken over the industry, orchestrating its operations using significant capital resources and even private storage facilities,” he said. He stressed that “it is inconceivable” that the BoC and the DA are not aware of the smugglers’ activities, including their having set up an intricate control and distribution system. “They (smugglers) possess substantial financial resources, enabling them to purchase entire harvests, and they maintain dominance over all imports. This has severely compromised the existing system,” Remulla said. From planting to harvesting to storage and distribution, smugglers have applied a stranglehold on the system to control the pricing of onions and garlic, Remulla said. He described the setup as highly sophisticated, with the smugglers demonstrating a mastery of the field. He said DA and BoC officials must also explain why agricultural products from other countries are flooding the Philippines. In May, the Philippine National Police reported that from 2019 to April 2023, onions were the third most smuggled commodity into the country, after counterfeit products and tobacco products. However, the P137.6-million worth of onions that Brig. Gen. Romeo Caramat Jr. said illegally entered the country during that period, was too paltry compared to the estimates cited in congressional investigations. Key players Remulla said there were over 20 key players in the onion and garlic cartel in the country, including a certain “Queen Bee,” against whom the DoJ will file charges soon. “We have successfully identified the key players. The cases will be filed at the appropriate time. Currently, we are meticulously verifying the specifics of their modus operandi,” he said. As for the “Queen Bee,” Remulla said, “That’s what they call her, the Queen Bee. But we are also looking at other individuals. When it comes to the different regions, the main person in control holds around 55 to 60 percent of the operations.” The DoJ is set to also summon officials of the Bureau of Plant Industry, an agency under the DA, to present onion importation documents covering the past decade. Remulla said the President himself ordered the DoJ to form an Anti-Agricultural Smuggling Task Force which will have as members seasoned prosecutors. After nine hearings, the Agriculture and Food Committee of the House of Representatives concluded that a cartel has been conspiring with the Philippine Vegetable Importers, Exporters and Vendors Association or PhilVIEVA to raise onion prices. The trading, import, cold storage, and trucking companies allegedly involved in the smuggling were all linked to PhilVIEVA. According to a House subcommittee, a cartel is to blame for the price increases. Rep. Stella Quimbo said PhilVIEVA is a fully-equipped group that can control the supply of onions throughout the country, as farmers have to contend with the lack of space in cold storage facilities. During the House hearings, operators said the facilities were filled with onions. Quimbo said that if there was more than enough supply, onion prices should not have surged. Quimbo went on to accuse Lilia “Leah” Cruz, the organizer of PhilVIEVA, of being the leader of the onion cartel. “If at the first hearing Leah Cruz was the denial queen, by hearing number nine, to us she was the undisputed onion queen,” Quimbo said. “That’s why we are calling on the NBI, PCC, and the DA’s enforcement section, let’s all help each other, the ball is in your court, peel away the onion cartel,” she said. Cruz is also reportedly a major shareholder in Golden Shine International Freight Forwarders Corporation, a trucking company affiliated with PhilVIEVA. The post ‘Queen Bee’ tagged top smuggler appeared first on Daily Tribune......»»
Microsoft profits soar, key cloud business slows
Microsoft's quarterly profits soared, the company said Tuesday, as its big push into artificial intelligence seemed to be bearing fruit but growth in its key cloud computing business slowed. An earnings statement reported that net profit for Microsoft was $20.1 billion in the April to June period, up 20 percent year-on-year and above expectations. The company posted $56.2 billion in sales for the quarter, which also beat expectations. Even though its share price slipped in after-hours trading, the 48-year-old tech titan remains the world's second most valuable company after Apple, with a market capitalization of $2.6 trillion. Microsoft shares had lifted off last week when the company said it would charge $30 extra per user to turbocharge its Microsoft 365 product -- which includes Word, Excel, and Teams -- with AI powers. This was an extra boost to a stellar year for Microsoft, whose big gamble on AI has so far been rewarded with a share price hike of about 45 percent this year. The heart of the company's activity is the Azure cloud service, which competes with Amazon's AWS and Google Cloud to offer businesses their computing needs. Demand for cloud computing slowed after a historic surge during the pandemic, and Microsoft and its rivals hope that the extra computing demands needed for AI will revive sales. The tech giant said Azure and other cloud services saw revenue growth of 26 percent year-over-year, down slightly from the previous quarter. Microsoft began 2023 with an announcement that it had entered into a close relationship with OpenAI, the company behind ChatGPT. The Redmond, Washington-based company swiftly integrated ChatGPT's powers into its Bing search engine, breathing new life into a product that has been unable to compete with Google. Microsoft has also pressed on with its big move to expand beyond its popular Xbox video game console by buying Activision Blizzard for $75 billion. The deal has faced major regulatory scrutiny over competition concerns, but after an effort by US authorities to block the deal failed in court, the move looks likely to succeed. The post Microsoft profits soar, key cloud business slows appeared first on Daily Tribune......»»
Marionette’s woe
The agenda of the detractors of the pivotal Malampaya natural gas project was for the deal, Service Contract 38, to lapse next year which places the assets in the government’s hands and then a favored private group comes in to buy the assets at a huge discount. The potential of the Malampaya--Camago is too promising, however, for the carpetbaggers to succeed since serious investors are willing to have the government partner for the project. Former Philippine National Oil Company chief Eduardo Mañalac, the designated attack dog of the detractors, said it should have been the government, through PNOC-Exploration Corp., buying out the foreign partners Shell and Chevron. PNOC-EC has a pre-emptive right as a 10 percent partner in the Malampaya consortium, giving it the option to match any offers to buy out any of the partners. The idea of the government taking over the project does not hold water. The actual cost to buy up the shares of the two foreign oil giants which own 90 percent of the Malampaya service providers would cost a hefty $1 billion. The government would need another $500 million to $600 million to explore and develop additional production wells. Coming from the pandemic era, such an amount spent on one project that has no immediate benefit to the public and obtained from borrowings would be preposterous. Pain and gains in business are best left to the private sector which has the resources to use while pursuing their profit motive. The real target of Manalac’s rant and rave, however, was to scuttle the deals and not extend SC 38 beyond its expiration next year, opening the door for wheeling and dealing in which the government assumes the Malampaya assets or if a new contract is dealt out. Mañalac can’t be trusted in his supposed role as a guardian of key state assets that he wanted to portray. During his stint as a concurrent energy undersecretary and PNOC chief, he tried to arrange the sale of five percent of PNOC-EC to a South Korean firm. The deal fell through after the National Economic and Development Authority or NEDA, under then Socioeconomic Planning Secretary Romulo Neri, junked the proposal and recommended to President Gloria Macapagal-Arroyo that the government keep its stake in PNOC-EC intact. At an online forum hosted by National Youth Movement for the West Philippine Sea, Mañalac gave an excuse that the aborted sale was an imposition by the Department of Energy. It was also supposedly a bid to recoup a P100-million loan spent on acquiring a 10 percent stake in the state-owned company and to top it all, Mañalac said he supported the sale “against his will.” “Of course, I was against it but you have to follow, you argue against it but at the end of the day, you tried to obey the instructions as best as you can,” Mañalac’s account which he wanted to fool the public into believing. He belatedly announcing that his actions were against his will reveals his foibles. The pursuit of the former energy official is off-tangent to the idea of maximizing benefits to the government. With the private sector as the controlling interest in the consortium, the government collects 60 percent of the net proceeds from Malampaya’s sale and it is spared of the huge amount needed for exploration and development. Pray tell how the current setup will have government missing out as Mañalac puts it. The truth is those who are pulling Mañalac’s strings wanted to obtain the energy industry jewel at a dirt-cheap price. The post Marionette’s woe appeared first on Daily Tribune......»»
McDonald’s profit climbs as consumers digest price hikes
McDonald's reported another strong quarter of profits on Tuesday, as affordability concerns boosted sales while the chain gingerly increased prices. The fast-food giant pointed to a policy of "strategic menu price increases" that resulted in modest pushback in some cases, executives said, while diners continued buying from the restaurant as they grapple with cost-of-living pressures. "We have to be very disciplined on where we take pricing," Chief Executive Chris Kempczinski said on a conference call with analysts. McDonald's works with outside experts to identify -- by item and restaurant -- where to lift prices, said Kempczinski. "When you go off-script and you start to take pricing in areas that would not be suggested" by models, the company can see "more resistance," he said. But profits in the first quarter jumped 63 percent to $1.8 billion on a four percent increase in revenues to $5.9 billion. Comparable store sales surged 12.6 percent. Chief Financial Officer Ian Frederick Borden said cost pressures are on a "downward trend" in the United States, although inflation remains elevated. While inflation in Europe has not yet moderated in a meaningful way, he added, some improvement is expected in the second half of the year. Kempczinski said the company's base-case expectation calls for a "mild recession" in the United States, with a slightly weaker outlook in Europe. As guests confront higher prices, the chain is seeing modest changes in consumer behavior, such as skipping french fries or ordering fewer items. "We perform well in good times and in bad and so that's what gives us optimism as we go through the rest of the year," Kempczinski said. Shares dipped 1.0 percent to $290.16 in afternoon trading. The post McDonald’s profit climbs as consumers digest price hikes appeared first on Daily Tribune......»»
PetroEnergy consolidates renewable energy businesses
Yuchengco-led energy company PetroEnergy Resources Corp. is buying out the stakes of EEI Power Corp. in three renewable energy firms for P2.69 billion......»»
AirAsia to implement facial recognition in ticket purchase
Airline company AirAsia is aiming to implement facial recognition as a way of buying tickets for passengers in the Philippines......»»
Razon buying more shares of Manila Water from Ayala
Conglomerate Ayala Corp. sold P4.84 billion worth of preferred shares in Manila Water Company Inc. to Trident Water Co. Holdings Inc. of businessman Enrique Razon......»»
Ohmyhome app makes buying property easier
From the time proptech company Ohmyhome launched its services in Singapore in 2016 and Malaysia in 2019, it has helped thousands of property seekers find the ideal home through its practical and innovative application and website. .....»»
Singapore firm buying 17.5% stake in AC Energy for P20b
Singapore-based Arran Investment Pte. Ltd., an affiliate of investment fund GIC Private Limited, is acquiring a 17.5-percent stake in AC Energy Philippines Inc. for about P20 billion, the local energy company said Thursday......»»
Thermal cameras hot in U.S. schools
Schools in the United States, like Fayette County’s public learning center in Georgia, are buying surveillance technology to safely bring students back amid the coronavirus pandemic. Fayette’s public school bought Hikvision 75 cameras with thermal imaging to detect students and personnel with elevated body temperatures. Each of the cameras made by the Chinese company that […] The post Thermal cameras hot in U.S. schools appeared first on Daily Tribune......»»