Showing posts with label News. Show all posts
Showing posts with label News. Show all posts
Monday, October 2, 2017
Google relaxes rules on free news stories, plans subscription tools
SAN FRANCISCO — Google announced on Sunday that subscription news websites would no longer have to provide users three free articles per day or face less prominence in search results, relaxing its rules following complaints from media giants like News Corp that their sales were suffering.
For the last decade, Google’s “first click free” policy helped ensure that non-subscribers wouldn’t be stifled by paywalls when they clicked on news articles from searches.
Google, the largest component of Alphabet Inc, had contended that free samples would lead to increased subscriptions.
But apart from a few publications, online subscriptions haven’t taken off as intended, and media companies such as Wall Street Journal parent News Corp. increasingly complained that freeloading users were cutting into sales.
This year, the Wall Street Journal stopped abiding by Google’s policy, corresponding to a drop in search rankings but an increase in subscriptions.
“Over the last year, we got clear indications that, yes, it was going to be important for publishers to grow subscription revenues,” said Richard Gingras, Google’s vice president for news.
He said the number of news outlets with paywalls had reached a critical mass in the last year, to the point that it made sense for Google to start developing tools for them.
Google is now counting on the relaxed rules and subscription software that is under development to stop the Wall Street Journal and other publishers from holding back valuable content.
From hereon, publishers will be able to choose how many, if any, free articles they want to offer to Google searchers.
Google also plans to launch free software in the coming months for publishers that enables users to pay for content with credit card information that they’ve previously supplied to the search giant.
The goal is to facilitate fast purchases that could take as little as a single click, Gingras said. Customers’ names and emails would be shared with the publishers.
A separate tool would give publishers data on how to maximize sign ups with personalized offers. Gingras said Google hasn’t determined whether it may charge a fee to recoup costs of that program.
“Google search is valuable because there’s a rich ecosystem out there,” Gingras said. “To the extent the web is healthy, that’s very good for our core business. Our objective is not for this to be a new line of business.”
Facebook, Alphabet’s top rival in online advertising, is working on similar subscriber registration tools. Apple released support for subscriptions within its News app last year.
source: interaksyon.com
Wednesday, December 10, 2014
Palestinian minister dies after being struck by Israeli troops
TURMUSIYA, West Bank - A Palestinian minister died shortly after being hit by Israeli soldiers during a protest on Wednesday in the occupied West Bank, a Reuters photographer who witnessed the incident and a Palestinian medic said.
Ziad Abu Ein, a minister without portfolio who was in his early 50s, was rushed by ambulance from the scene, in the village of Turmusiya, but died en route to the nearby Palestinian city of Ramallah.
Palestinian President Mahmoud Abbas, in a statement, called Abu Ein's death "a barbaric act which we cannot be silent about or accept". Announcing three days of national mourning, Abbas said he would take "necessary steps" after an investigation.
The Israeli army was looking into the incident, a spokeswoman said, She did not immediately provide further information.
About 100 foreign and Palestinian activists with the Committee to Resist Settlements and the Wall, the government-run protest organization that Abu Ein headed, were on their way to plant trees and protest near an Israeli settlement when they were stopped at an improvised checkpoint, witnesses said.
A group of around 15 Israeli soldiers fired tear gas at the protesters and began scuffling with them.
Abu Ein was struck by a hand to the neck during an altercation with two of the soldiers, and was rushed away in an ambulance shortly afterwards, the Reuters photographer said.
Bilateral tensions have been fueled in recent weeks by the killing of 10 Israelis and a foreign visitor in Palestinian attacks. More than a dozen Palestinians have been killed over the same period, including most of those accused of carrying out the assaults.
Palestinians in Ramallah closed shops in protest at the minister's death and youths threw stones at Israeli soldiers guarding a Jewish settlement outside the city, Palestinian security sources said.
source: interaksyon.com
Thursday, January 23, 2014
Justin Bieber arrested for drag-racing while intoxicated - reports
MIAMI - Justin Bieber was arrested in Miami early Thursday for drag racing while intoxicated, news reports here said, in the pop singer's latest in a series of run-ins with the law.
The local NBC television affiliate in Miami reported that at the time of his arrest, Bieber was driving a rented Lamborghini.
The incident is one in a long line of controversial headlines which have tarnished the once clean-cut image of Bieber, who has sold more than 12 million albums since emerging on the music scene in 2009 as a schoolboy sensation.
Just last week, police searched Bieber's Los Angeles mansion over an egg-throwing attack seized illegal drugs and arrested one of the singer's associates.
The 19-year-old Canadian teen idol was accused by a neighbor of causing thousands of dollars in damage to a neighbor's house after pelting it with eggs.
News reports said that in July, authorities at the US-Canada border confiscated marijuana and drug paraphernalia from one of Bieber's tour buses. He was not on board at the time, media reported.
He also attracted criticism on a recent tour of Australia after allegedly spraying graffiti on a hotel wall.
A tour of South America last year also ran into turbulence, with allegations that he tagged the wall of a Rio de Janeiro hotel and failed to pay a bill in a Buenos Aires nightclub.
Bieber also caused offense by stepping on an Argentine flag thrown onto a stage during a concert. He was also evicted from a luxury hotel in Buenos Aires after a room was damaged.
Over the Christmas holidays, Bieber announced via Twitter that he was "officially retiring."
source: interaksyon.com
Tuesday, December 10, 2013
Sleeping passenger locked in plane at Houston airport
HOUSTON -- A Louisiana man flying to California woke up on a dark, empty plane parked at Bush Intercontinental Airport in Houston after sleeping through the call to exit the aircraft, officials said on Monday.
Tom Wagner was supposed to leave the plane in Houston last Friday and board a flight to California.
Instead, he found himself locked inside the ExpressJet plane, which was operating as a United Express flight.
He called his girlfriend for help, according to an exclusive interview he gave to Houston television station KTRK.
"She thought I was crazy. I said ... 'I'm locked on the plane. I'm telling you the truth; you better go somewhere and get me off this plane'," Wagner told the broadcaster.
Ground staff servicing the airplane a few hours after it landed found and released Wagner, ExpressJet spokeswoman Samantha Harrison said.
Company policy requires the flight crew to do a final sweep of the cabin and the company was investigating how Wagner was left onboard, Harrison said.
"As part of post-flight procedures, our flight attendants are responsible for completing a walk-through on the aircraft," Harrison said in an email.
The company said in a statement: "We sincerely apologize for the inconvenience this caused for the passenger."
Wagner told KTRK the airline paid for a hotel in Houston and gave him a $250 voucher for his trouble.
source: interaksyon.com
Leisure Resorts exercises option to convert loan into 9-pct stake in DFNN
Leisure and Resorts World Corp (LRWC) is set to acquire shares in information technology firm DFNN Inc following the conversion of its debt into equity.
In a disclosure to the Philippine Stock Exchange, LRWC said it sent a conversion notice to DFNN exercising the former's option to convert the balance of an outstanding loan to primary common shares in the latter.
Last month, LRWC executed an P86-million convertible loan agreement with DFNN.
In a phone interview, Freddie Reyes, LRWC head of investor relations, said the gaming company will end up with a nine-percent stake in DFNN after the conversion.
Under the terms of the deal, the three-year loan would carry an interest rate of 8.5 percent per annum and an option for conversion into primary common shares in DFNN at any time starting on the date of initial drawdown and before the credit expires at a conversion price of P4.75.
In a text message, DFNN president Ramon Garcia Jr. said the loan will finance general working capital, acquisition of gaming outlets, legal fees, research and development of additional games and acquisition of gaming equipment.
"We will like to use their machines on our existing outlets to have more games and more products for our clients," Reyes said.
Earlier, DFNN's unit Inter-Active Entertainment Solutions Technologies (IEST) deployed XChangebet betting systems at Resorts World Manila. XChangebet is a peer-to-peer betting system that allows players to place bets on a variety of sporting and non-sporting events.
IEST is a provider of betting and gaming solutions to Pagcor. IEST's gaming systems have been approved for deployment in over 29 Pagcor-authorized venues.
LRWC runs gaming operations through AB Leisure Exponent Inc, which operates the professional bingo gaming through Bingo Bonanza Corp, and First Cagayan Leisure and Resort Corp, which conducts internet and gaming enterprises and facilities in the Cagayan Special Economic Zone Freeport.
LRWC, which earlier acquired Midas Hotel and Casino, is also part of the consortium that is building City of Dreams Manila, which is set to open at the Entertainment City of state-run Philippine Amusement and Gaming Corp next year.
source: interaksyon.com
Saturday, November 30, 2013
1 confirmed dead in Scotland chopper crash but toll likely to rise
GLASGOW -- One person has been killed in a helicopter crash at a crowded Glasgow pub, police said Saturday, with the death toll likely to rise.
Scottish First Minister Alex Salmond called it a "black day" for Scotland as he sent his condolences to the bereaved.
Police Scotland Chief Constable Stephen House said 32 people had been taken by ambulance to three Glasgow hospitals following the crash on Friday night.
"Sadly I can also confirm one fatality. We expect that number to increase over the coming hours," he told reporters.
Asked if there were people still alive trapped in The Clutha bar, where more than 100 people were watching a band play, House replied: "We can't say that definitively at this moment in time".
Scotland's police chief was speaking alongside Scottish First Minister Alex Salmond, outside the command center in Glasgow, which is coordinating the multi-agency emergency response.
"Our condolences go to those who will be bereaved; our solidarity with those who've been injured," Salmond said.
"All of us have seen over the last few hours the speed and the effectiveness of the mobilization of emergency services in dealing with this tragedy.
"We've also heard of the instinctive courage of ordinary Glaswegians going to assist their fellow citizens in extremity.
"This is a black day for Glasgow and for Scotland. But it's also St. Andrew's Day and it's a day we can take pride and courage in how we respond to adversity and tragedy.
"And that response, from our emergency services and from ordinary citizens, has been exemplary.
"It's a day we can take great pride on how we've responded to this extraordinary tragedy."
source: interaksyon.com
Thursday, November 14, 2013
US aircraft carrier starts storm relief as Aquino comes under pressure
TACLOBAN, Philippines - A US aircraft carrier "strike group" started unloading food and water to the typhoon-ravaged central Philippines on Thursday, as President Benigno Aquino III faced mounting pressure to speed up the distribution of supplies.
While relief efforts picked up, local authorities began burying the dead - an important, if grim, milestone for a city shredded by one of the world's most powerful typhoons and the tsunami-like wall of seawater believed to have killed thousands.
Many petrol station owners whose businesses were spared have refused to reopen, leaving little fuel for trucks needed to move supplies and medical teams around the devastated areas nearly a week after Super Typhoon Yolanda (international code name: Haiyan) struck.
"I cannot use a truck to collect cadavers in the morning and then use it to distribute relief goods in the afternoon," said Alfred Romualdez, mayor of Tacloban, a city of 220,000 people reduced to rubble in worst-hit Leyte province.
"The choice is to use the same truck either to distribute food or collect bodies."
The Philippine coastguard on Thursday confirmed the death of a 69-year-old Dutch tourist, whose body was found on Monday near the western Philippine island of Palawan.
The nuclear-powered USS George Washington aircraft carrier and accompanying ships arrived off wind-swept eastern Samar province, carrying 5,000 crew and more than 80 aircraft, after what strike force commander Rear Admiral Mark Montgomery called a "high-speed transit" from Hong Kong.
It is moored near where US General Douglas MacArthur's force of 174,000 men landed on October 20, 1944, in one of the biggest allied victories of World War Two.
"Operation Damayan" started with the George Washington and two cruisers taking up position off Samar to assess damage and provide logistical and emergency support such as fresh water.
Ships carried 11 pallets ashore - eight containing 1,920 gallons of water and three containing food - at Tacloban airfield. Several pallets of water were taken to Guiuan, Eastern Samar, home to 45,000 people, which was also badly hit by the storm when it made its first landfall there.
The carrier moved some fixed-wing aircraft ashore to make more room for the helicopters on the flight deck.
"One of the best capabilities the strike group brings is our 21 helicopters," Montgomery said in a statement. "These helicopters represent a good deal of lift to move emergency supplies around."
US President Barack Obama urged Americans to donate generously to their former Asian colony.
Relief channels slowly opening up
US officials said relief channels were slowly opening up with the reopening of a main road.
Ships and planes from Asia-Pacific nations and Europe are also converging on the Philippines, bearing food, water, medical supplies, tents and other essentials to a population in dire need of the basics of life.
Britain also said it would send a helicopter carrier, HMS Illustrious, to help in the relief effort.
Prime Minister David Cameron dispatched the biggest vessel in Britain's own fleet while heavy transport planes carrying equipment such as forklift trucks have already arrived.
The Disasters Emergency Committee (DEC), a coordinating body for British aid charities, said it had raised 23 million pounds ($37 million) in the first 48 hours of launching an appeal for the Philippines.
"The public's reaction to the sheer devastation that has been left by Typhoon Haiyan is quite simply remarkable. We are so grateful for the huge amount of donations which are vital to fund the work done by our emergency teams," DEC chief executive Saleh Saeed said.
Japan was also planning to send up to 1,000 troops as well as naval vessels and aircraft, in what could be Tokyo's biggest postwar military deployment.
But on the ground, the meager aid that was getting through was still inadequate, with distribution hampered by fears of armed looters and by broken infrastructure.
Sick or injured people lie helplessly among the ruins of buildings, while those with the energy try to leave a place that resembles hell.
Efren Nagrama, area manager at the civil aviation authority, said conditions were "very dire now" as he surveyed the filthy stream of humanity at Tacloban's battered airport clamoring to get a flight out.
"You see hundreds coming to the compound every day. People who have walked for days without eating, only to arrive here and be made to wait for hours or days under the elements," he said.
"People are pushed to the tipping point -- they see relief planes but cannot get to the food nor get a ride out. There is chaos."
Mass burials
Almost a week after Haiyan swept through the country's central islands, desperation was still apparent and many of the dead remained unburied.
Outside Taclaban, burials began for about 300 bodies in a mass grave on Thursday. A larger grave will be dug for 1,000, city administrator Tecson John Lim told Reuters.
Around 110 corpses were interred in a mass grave Thursday before heavy-digging machinery broke down, said Mayor Romualdez.
They were placed at the bottom of a huge pit that is expected to be several layers deep by the time it is covered over with earth.
"There are still so many cadavers in so many areas. It's scary," Romualdez said, adding that retrieval teams were struggling to cope.
"There would be a request from one community to collect five or 10 bodies and when we get there, there are 40," he said, describing aid agencies' response to the crisis as too slow.
Romualdez said the people of Tacloban needed an "overwhelming response" from aid organizations and the government.
"We need more manpower and more equipment," Romualdez pleaded. "A six-day-old body is quite heavy. You would need three or four people to carry it.
"Let's get the bodies out of the streets. They are creating an atmosphere of fear and depression."
City officials estimate that they have collected 2,000 bodies but insist many more need to be retrieved. The UN fears that 10,000 people may have died in Tacloban city alone, but President Aquino has described that figure as "too much".
While the retrieval of the dead gets going, there are growing fears for the health of those who survived.
The World Health Organization says there are significant injuries that need to be dealt with -- open wounds that can easily become infected in the sweltering tropical heat.
Experts warn that a reliable supply of clean drinking water is vital if survivors are not to fall victim to diarrhea, which can lead to dehydration and death, especially in small children.
The city government remains paralyzed, with an average of just 70 workers compared to 2,500 normally, he added. Many were killed, injured, lost family or were simply too overcome with grief to work.
The government was distributing 50,000 "food packs" containing 6 kg (13 lb) of rice and canned goods each day, but that covers just 3 percent of the 1.73 million families affected by the typhoon.
Aquino in spotlight
Aquino has been on the defensive over his handling of the storm given warnings of its projected strength and the risk of a storm surge, and now the pace of relief efforts.
He has said the death toll might have been higher had it not been for the evacuation of people and the readying of relief supplies, but survivors from worst-affected areas say they had little warning of a tsunami-like wall of water.
Aquino has also stoked debate over the extent of the casualties, citing a much lower death toll than the 10,000 estimated by local authorities. Official confirmed deaths stood at 2,357 on Thursday, a figure aid workers expect to rise.
City administrator Lim, who on Sunday estimated 10,000 likely died in Tacloban alone, said Aquino may be deliberately downplaying casualties.
"Of course he doesn't want to create too much panic. Perhaps he is grappling with whether he wants to reduce the panic so that life goes on," he said.
The preliminary number of missing as of Thursday, according to the Red Cross, remained at 22,000. It has cautioned that that number could include people who have since been located.
Tacloban's main convention center, the Astrodome, has become temporary home for hundreds of people living in abject squalor. Families cooked meals amid the stench of garbage and urine. Debris was strewn along rows of seats rising from dark pools of stagnant water.
"We went into the Astrodome and asked who is in charge and just got blank stares," said Joe Lowry, a spokesman for the International Organization for Migration, which is setting up camps for the displaced.
Survivors formed long queues under searing sunshine, and then torrential rain, to charge mobile phones from the only power source available: a city hall generator. Others started to repair motorbikes and homes. A rescue worker cleared debris near a wall with the spray-painted words "We need food".
More the 544,600 people have been displaced and nearly 12 percent of the population affected, the United Nations said. But many areas still have not received aid.
"It's true, there are still areas that we have not been able to get to where people are in desperate need," UN humanitarian aid chief Valerie Amos, who had visited the shattered city of Tacloban on Wednesday, told reporters in Manila. "I very much hope that in the next 48 hours, that will change significantly.
"Yes, I do feel that we have let people down because we have not been able to get in more quickly.
"Those who have been able to leave have done so. Many more are trying. People are extremely desperate for help," she said.
"We need to get assistance to them now. They are already saying it has taken too long to arrive. Ensuring a faster delivery is our... immediate priority."
The world body's leader Ban Ki-moon, currently in Latvia, later added UN agencies and teams "are on the ground to provide the necessary humanitarian assistance".
"Especially in the southern part there are tens of thousands of people exposed to the elements. We are doing everything possible to rush assistance to those who need it."
Anger and frustration
Anger and frustration have been boiling over as essential supplies fail to reach many of those in need. Food and other goods have stacked up at the airport in Tacloban, for instance.
Some areas have appeared to teeter near anarchy amid widespread looting of shops and warehouses for food and water.
Medical charity Medecins Sans Frontieres (MSF) described a bleak situation in Guiuan.
"People are living out in the open ... The needs are immense and there are a lot of surrounding villages that are not yet covered by any aid organizations," Alexis Moens, MSF's assessment team leader, said in a statement.
Lim said 90 percent of Tacloban had been destroyed by the typhoon and the wall of seawater it shoved ashore. Only 20 percent of residents were getting aid while houses were being looted because warehouses were empty, he added.
There were also not enough flights from Tacloban airport to cope with the exodus from the stricken city.
Many people complained that military families were given priority to board the C-130 cargo planes.
"If you have a friend or relative in the military, you get priority," said Violeta Duzar, 57, who had waited at the airport since Sunday with eight family members, including children.
The overall financial cost of the destruction was hard to assess. Initial estimates varied widely, with a report from German-based CEDIM Forensic Disaster Analysis putting the total at $8 billion to $19 billion. (Additional Reuters reports from Rosemarie Francisco and Eric dela Cruz in Manila, Phil Stewart in Washington and Greg Torode in Hong Kong)
source: interaksyon.com
Monday, November 11, 2013
Vatican gives $150,000 in emergency aid to the Philippines
VATICAN CITY - The Vatican on Monday announced it is donating $150,000 (112,000 euro) in emergency aid to the Philippines after Super Typhoon Haiyan devastated entire communities and left more than 10,000 people feared dead.
"Following the Haiyan Typhoon... the Holy Father has decided to send a first contribution of 150,000 dollars to help the population", the Vatican said in a statement.
The aid "will be distributed through the local Church in the areas worst hit by the tragedy" and will be "used to support aid operations for displaced people," it added.
The donation is intended as "a concrete expression of the pontiff's spiritual closeness and paternal support for the people and territories devastated by the floods," it said.
Pope Francis led 60,000 people in Sunday prayers for the Philippines, urging the faithful to provide "concrete help" to the largely Roman Catholic country.
"I ask all of you to join me in prayer for the victims of Typhoon Haiyan / Yolanda especially those in the beloved islands of the Philippines", he tweeted on Saturday.
source: interaksyon.com
Sunday, November 10, 2013
PLDT group provides free call stations in typhoon-hit areas
MANILA – Smart Communications, Inc. has installed free call services in Tacloban City and other areas as restorations works for the company’s network services in typhoon-ravaged areas are still underway.
The free call station, which used satellite services in partnership with Telecoms Sans Frontieres (TSF), was held at the police station near the city hall and started yesterday afternoon until evening. The company said that they expect to resume service today at the same location to rescue groups and affected residents.
“Tacloban is one of the most devastated areas in the Visayas with power and regular communication lines still down. Smart, as part of the Emergency Communications Cluster helping the government, flew in twice yesterday satellite and other telco equipment.” Ramon R. Isberto, Smart public affairs group head, said.
Smart said that its satellite services have likewise been extended to various institutional partners and local government units to expedite post-disaster response coordination.
Meanwhile, free call services from the Sun Cellular network can also be used at the Smart Retail Store in Ormoc City and in Tubigon Community Hospital in Potohan, Tubigon, Bohol.
The public may also proceed to the San Francisco municipal hall in Camotes, Cebu care of NTC-7, and the Smart cell sites in Roxas City proper and Sta. Fe in Cebu for free charging of mobile phone batteries.
Libreng Tawag stations were earlier made available in certain areas in Iloilo, Masbate and Mindoro.
Network restoration
Meanwhile, restoration of Smart and Sun networks in areas most affected by Super Typhoon Yolanda are now in full swing.
Network services have been restored in the following areas: Cabulihan, Maasin in Southern Leyte and the municipalities of Matalom, Bato, Hilongos, Macrohon and Hindang in Leyte; San Carlos, Negros Oriental; Bantayan Island, Cebu; Calatrava, Negros Occidental; Dimiao, Bohol; Badiangan, Ajuy-Culasi, Cabatuan, Anilao, Banate, Maasin, PD Monfort, Janjuay, Sta. Barbara, Leganes, Barotac Nuevo, Pavia, San Miguel, Dumangas, Alimodian, Sta. Barbara, Tiwi, Barotac Nuevo, Mina, Dingle, Zarraga, Pototan in Iloilo, and all of Masbate except for Mobo, Cataingan, Palanas, and Pio V. Corpuz.
Network services have been operational since yesterday in Ormoc City in Leyte as well in the following areas in Western Samar: Calbayog City, Calbiga, City of Catbalogan, Daram, Gandara, Jiabong, Macrohon,
Matuguinao, Paranas (Wright), San Jose de Buan, Santa Margarita, Tarangnan, Villareal.
Because of the post-disaster effects of the Typhoon Yolanda, the company encouraged subscribers of Sun in the Visayas to use the Smart network to boost their network signal by doing the following: go to their phone settings, choose Operator selection, choose Manual, and select SMART. Then return to Automatic mode. This can be used for call, text and data services. This will allow subscribers to use the Smart network while network enhancements for Sun is ongoing. The same rates and rules apply as if the subscriber is on the Sun network.
This service for Sun is available in the following areas in the Visayas; Aklan, Antique, Capiz, Cebu, Eastern Samar, Iloilo, Negros Occidental, Northern Samar, Siquijor, Southern Leyte, Leyte and Western Samar. Queries can be directed to Sun Hotline 200.
Accepting donations
Smart and Sun subscribers can also use text facilities to donate to the victims of Typhoon Yolanda. For donations to the Philippine Red Cross, subscribers can text RED and send to 4143. Ex: RED 100. Denominations accepted are for P10, P24, P50, P100, P300, P500 and P1000.
source: interaksyon.com
Tuesday, October 29, 2013
S&P 500 ends at record high on Fed hopes
NEW YORK - The S&P 500 closed at another record high on Monday as expectations were high that the Federal Reserve will keep its stimulus in place when it meets this week.
But the overall market was little changed, with the Dow and Nasdaq ending down slightly, after the recent sharp run-up in the stock market lost some momentum.
The S&P 500 has risen 6.4 percent since October 8, when it hit its lowest point during the U.S. government's partial shutdown and the debate over raising the debt ceiling. The benchmark index is up 23.6 percent for the year so far.
Relief over the end of the political impasse and investor expectations that the Fed will keep stimulus measures in place for at least several months because of the 16-day shutdown have propped up prices. Fed policymakers will meet on Tuesday and Wednesday.
"I would like to say it's all about people waiting for the Fed, but I don't know what they're waiting for because I don't expect any change in Fed policy this week, given the fact they pointed out repeatedly the fiscal issues they're cognizant of," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.
"My concern with the market at this level is that without signs eliciting some evidence the economy is actually strengthening from the pace we've had, the multiple expansion doesn't seem rational."
Shares of Apple Inc rose 0.7 percent to $529.88 ahead of the release of its earnings, expected after the bell. While Apple's advance helped the S&P 500, the consumer staples sector index .SPLRCS, up 1.2 percent, gave the S&P its biggest boost.
A number of traders appeared to be picking up call options on the Consumer Staples Select Sector SPDR fund, which rose 1.3 percent, on hopes that the sector will continue to perform well through the end of the year.
The Dow Jones industrial average dipped 1.35 points, or 0.01 percent, to end at 15,568.93. The Standard & Poor's 500 Index gained 2.34 points, or 0.13 percent, to finish at a record 1,762.11. The S&P 500 also posted another lifetime intraday high at 1,764.99.
The Nasdaq Composite Index slipped 3.23 points, or 0.08 percent, to close at 3,940.13.
In extended-hours trading, Apple's shares were flat after recovering from a 5 percent drop following the tech bellwether's results. Wall Street had hoped for a stronger beat on quarterly sales after the iPhone maker predicted in September that its revenue and margins would come in at the high end of its own forecasts.
Apple's stock price has climbed 8.8 percent since the end of August.
Among the latest signs that the economy's momentum may be easing, U.S. manufacturing output barely rose in September and contracts to buy previously owned homes recorded their largest drop in nearly 3-1/2 years, according to economic data released on Monday.
On the down side, Dow component Merck & Co fell 2.6 percent to $45.35 and was one of the biggest drags on the Dow after the company reported a decline in sales of its Januvia diabetes treatment, raising concerns about growth prospects for its biggest product.
Biogen Idec posted a rise in its third-quarter profit and boosted its full-year earnings and revenue outlook, sending the U.S. biotech company's stock up 0.9 percent to $254.43.
Based on Thomson Reuters data through Monday morning, S&P 500 earnings are expected to have risen just 3.4 percent in the third quarter over the year-ago period.
Of the 249 companies in the S&P 500 that have reported earnings so far, 69.1 percent beat analysts' expectations, above both the 63 percent beat rate since 1994 and the 66 percent rate for the past four quarters.
Revenue has been lackluster, however, with growth seen at 2.2 percent for the quarter. Just 53.9 percent have beaten sales estimates, below the 61 percent rate since 2002, but above the 49 percent rate for the past four quarters.
On the acquisition front, Mosaic Co agreed to buy CF Industries Holdings Inc's phosphate mining and manufacturing business for $1.2 billion in cash. Shares of CF climbed 4.2 percent to $218.36 while Mosaic gained 1.6 percent to $46.67.
source: interaksyon.com
Friday, October 4, 2013
Mini-skirt ban prompts underwear protest at Hungarian college
BUDAPEST - Students at a Hungarian university attended class wearing only their underwear Thursday to protest against a dress code ordered by the college head.
In a letter to students on Wednesday, the rector of Kaposvar University in southwest Hungary wrote that a conservative dress code -- dark suits and shoes for men; jacket, blouse and trousers or long skirts for women -- must be adhered to when attending classes or exams.
"From October 1, there is also no place in the university for mini-skirts, flip-flops, heavy make-up, inappropriate fashion accessories, or unkempt fingernails and hair," the letter continued.
The rector did make an allowance for lighter clothing during warm summer days, prompting some students to make the underwear protest.
"We were appropriately dressed but the class room was so warm we removed some clothing as is permitted," said one student.
The protestors included male and female students.
Students plan to wear flip-flops and beach towels at another protest on October 7.
source: interaksyon.com
Sunday, September 29, 2013
Universal Robina hikes capex to build consumer foods business into Asean brand
MANILA – The maker of C2 ready-to-drink tea and Jack ‘N Jill snack foods is building up its branded consumer food business and eyeing acquisitions in a bid to become an Asean powerhouse.
During the BPI Securities 2014 Market Outlook Conference on Saturday, Universal Robina Corporation (URC) vice president Michael Liwanag said the company wants to grow its branded business to $3 billion in five to six years, expanding at a rate of 12-15 percent per year.
“We want to double our branded business every five to six years,” Liwanag said.
Gokongwei-owned URC is hiking its capital spending to $150 million in the fiscal year 2014 -- higher than the $120 million spending in the last three years – to finance its foray into Myanmar in the next six months. The company may tap the debt market or use internally generated funds to finance its capex given its net cash position of around $200 million.
Aside from organic growth, URC can tap acquisitions outside the Philippines for $500 million to $1 billion.
"The priority is to become an Asean multinational down the road with strong brands," Liwanag said.
Myanmar is the next challenge for the Philippine firm after establishing a strong presence in Vietnam, Thailand and Indonesia through its brand-building efforts and distribution capability.
"Vietnam is the next Philippines. Thailand is a mature market. If we can grow it [in the] low to mid teens, that is the target," Liwanag said, adding that URC expects challenges in Indonesia in the form of higher wages, devaluation of rupiah and the removal of the oil subsidy.
He said pricing products to target the middle market and adapting to consumer tastes were the factors behind URC's successful foray into these foreign markets.
URC has taken a market leadership position in various food categories, including snacks, candies, chocolates, biscuits, canned beans, cup noodles, coffee and ready-to-drink tea.
In expanding its footprint in the region, the food-and-beverage company has replicated this multi-category strategy on a selective basis and is among the top three in categories it is in.
"We have what it takes to erode market share of multinationals," Liwanag said. URC has made inroads in the coffee category through number two player Great Taste with the leading multinational's market share falling to 54 percent from 92 percent.
"We thought the Philippine market [was] mature, but the innovation like coffee in Philippines [gave] room for us to grow. Modern retailing is growing, we have to come up with products for modern retailing," Liwanag said.
URC, which is also in the commodity and agro-industrial businesses, expects net sales to grow by 13.3 percent to P80.7 billion in the 2013 fiscal year ending September from P71.2 billion in the same period last year.
The company's local branded business will jump 23 percent year-on-year to P42.2 billion this fiscal year from the previous year's P34.4 billion, 20 percent of which will come from volume growth and three percent from price increase. International sales will increase by a tenth to $520 million from $471 million last year.
Earnings before interests and taxes will hit $10 billion in 2013, up by almost 30 percent from year ago levels.
"[For 2104] you just have to monitor the soft commodity prices. Over the short term until December, we're protected," Liwanag said, adding that it will "selectively increase prices" but robust growth of the outsourcing industry and remittances will prop up demand for its products.
source: interaksyon.com
Sunday, September 22, 2013
Suicide bombers kill more than 60 at Pakistan church
PESHAWAR—A double suicide bombing killed more than 60 people at a church service in northwest Pakistan on Sunday, officials said, believed to be the deadliest attack on Christians in the troubled country.
Pakistan's small and largely impoverished Christian community suffers discrimination in overwhelmingly Muslim-majority Pakistan but bombings against them are extremely rare.
The two bombers struck at the end of a service at All Saints Church in Peshawar, the main town of northwestern Khyber Pakhtunkhwa province, which has borne the brunt of a bloody Islamist insurgency in recent years.
Doctor Mohammad Iqbal of Peshawar's Lady Reading Hospital told AFP that 61 people had been killed and 120 wounded. Fellow doctor Sher Ali confirmed the numbers.
Sahibzada Anees, one of Peshawar's most senior officials, told reporters the bombers struck when the service had just ended.
"Most of the wounded are in critical condition," Anees said.
"We are in an area which is a target of terrorism and within that area there was a special security arrangement for the church. We are in a rescue phase and once it is over we will investigate what went wrong."
Former minister for inter-faith harmony Paul Bhatti and provincial lawmaker Fredrich Azeem Ghauri both said the attack was the deadliest ever targeting Christians in Pakistan.
School teacher Nazir Khan, 50, said the service had just ended and at least 400 worshippers were greeting each other when there was a big explosion.
"A huge blast threw me on the floor and as soon as I regained my senses, a second blast took place and I saw wounded people everywhere," Khan told AFP.
Grieving relatives blocked the main Grand Trunk road highway with bodies of the victims to protest against the killings, an AFP reporter said.
Sectarian violence between majority Sunni and minority Shiite Muslims is on the rise in Pakistan and Sunday's attack will fuel fears the already beleaguered Christian community could be increasingly targeted.
Islamist militants have carried out hundreds of bombings targeting security forces and minority Muslim groups they regard as heretical, but attacks on Christians have previously largely been confined to grenade attacks and occasional riots.
Khyber Pakhtunkhwa is a deeply conservative province bordering the tribal districts along the Afghan frontier, which are home to Taliban and Al-Qaeda militants.
Provincial lawmaker Ghauri said there were about 200,000 Christians in the province, of whom 70,000 lived in Peshawar.
"Now after this attack Christians across Pakistan will fear for their lives," he warned.
Pakistan Prime Minister Nawaz Sharif strongly condemned the bombings.
"Terrorists have no religion and targeting innocent people is against the teachings of Islam and all religions," he said in a statement.
Sharif said such "cruel acts of terrorism reflect the brutality and inhumane mindset of the terrorists".
Only around two percent of Pakistan's population of 180 million are Christian. The community is largely poor and complains of growing discrimination.
The US Commission on International Religious Freedom has warned that the risk to Pakistan's minorities has reached crisis levels.
Christians have a precarious existence in Pakistan, often living in slum-like "colonies" cheek-by-jowl with Muslims and fearful of allegations of blasphemy, a sensitive subject that can provoke sudden outbursts of public violence.
In the town of Gojra, in Punjab province, in 2009, a mob burned 77 houses and killed seven people after rumours that a copy of the Islamic holy book the Koran had been desecrated during a Christian marriage ceremony.
Last year a young Christian girl, Rimsha Masih, spent three weeks in jail after being accused of blasphemy. The case was thrown out but she and her family have been in hiding ever since, fearing for their lives.
source: interaksyon.com
Friday, September 20, 2013
Death toll nears 100 as new hurricane hits northwest Mexico
ATOYAC DE ALVAREZ, Mexico - Deaths from floods and landslides battering Mexico neared 100 on Thursday as a fresh hurricane hit the northwest and rescuers faced a risky mission in a village buried in mud.
Hurricane Manuel, the same weather system that pummeled the Pacific coast earlier this week, made landfall on the state of Sinaloa, prompting the evacuation of a small fishing town before weakening back to tropical storm force.
Luis Felipe Puente, the national civil protection coordinator, said the death toll rose to 97 from 81, with 65 of them registered in the southwestern state of Guerrero.
Guerrero was the hardest-hit state from the dual onslaught of Manuel and sister storm Ingrid on the east coast this week, which drenched most of the country, damaging bridges, roads and tens of thousands of homes.
The disaster left the Pacific coast resort of Acapulco cut off from the world, marooning tourists and residents, while a massive mudslide swamped a mountain hamlet of 400 people west of the city.
Ediberto Tabarez, the mayor of Atoyac de Alvarez, a municipality that oversees La Pintada, told AFP that at least 15 bodies have been found after more than 20 homes were crushed.
The threat of a new landslide in the coffee-growing village of La Pintada delayed a mission to seek 58 missing people.
But the federal government said it had yet to confirm any deaths and that so far survivors testified that they had removed five bodies from the site.
Interior Minister Miguel Angel Osorio Chong said rescue teams were unable to start the search because water was gushing from the hill, threatening to send more rock and mud over the village.
Police helicopters had rescued 334 women, children and senior citizens on Wednesday and were supposed to return on Thursday to pick up 45 men and a few officers who were left behind overnight.
"These 45 people are in a dangerous situation," Osorio Chong told MVS radio, adding that homes are barely visible. "The rest of the hill could fall."
The mobile phones of AFP journalists heading to the village had no reception. An aerial video showed a river of mud that had slid down a hill, covering a huge chunk of the village.
From Atoyac, it normally takes two hours by car in winding mountain roads to reach La Pintada, but the road may be damaged by the storms, which could make the trek much lengthier.
‘Ugly noise, worse than a bomb’
Survivors of the disaster who were evacuated to Acapulco recalled hearing a rumble before the earth came crashing down on houses, the church and the school as people were having independence day lunch last Monday.
"It was an ugly noise, worse than a bomb," said Ana Clara Catalan, 17, who was preparing corn tortillas when the earth collapsed.
News of the disaster only emerged two days later after a survivor was able to radio someone in a neighboring village.
"More than half of La Pintada was demolished, few homes were left," said Maria del Carmen Catalan, a 27-year-old mother of three.
The storms that swept across the nation have damaged 35,000 homes and forced the evacuation of 50,000 people, officials said.
More than half of Acapulco was flooded, stranding 40,000 tourists who sought airlifts while looters ransacked stores.
The civilian airport's terminal was flooded in knee-high dark water, but commercial carriers Aeromexico and Interjet have flown special flights since Tuesday.
Osorio Chong said almost 12,000 tourists had been flown to Mexico City in special military and commercial flights while authorities hoped to re-open the road out of Acapulco on Friday.
A human rights group accused the authorities of neglecting mountain communities.
The minister said "we do care about the lives of people in the mountains" but "we can't enter some communities by air or land."
As the cost of the flooding continued to mount, the finance ministry said it had around 12 billion pesos ($925.60 million) available in emergency funding.
While all but two of Mexico's ports remained open to large ships, including its three main oil export hubs along the Gulf, nearly 40 ports along both the Gulf and Pacific coasts were closed on Thursday morning to smaller boats, the transport ministry said.
State oil monopoly Pemex said it had dispatched technicians to fix a ruptured 12-inch oil pipeline between the Gulf port of Madero inland to Cadereyta, which connects two refineries.
The pipeline was damaged when the Pablillo River burst its banks due to heavy rains.
While Manuel churned in the west, a new tropical cyclone threatened to form in the east and cause more misery. (With additional Reuters reports from Miguel Gutierrez, Gabriel Stargardter and David Alire Garcia)
source: interaksyon.com
Tuesday, September 17, 2013
NBI bares how 8 lawmakers 'amassed' P835-M pork in their deals with Napoles
MANILA, Philippines - How did eight legislators led by senators Ramon "Bong" Revilla Jr., Jinggoy Estrada, and Juan Ponce Enrile allegedly amass P835 million in kickbacks through their dealings with businesswoman Janet Lim-Napoles?
The National Bureau of Investigation (NBI), which recommended the filing of plunder, malversation, direct bribery, and graft and corrupt practices against the lawmakers, accused the legislators of engaging in eight-step "modus operandi."
1) Napoles and lawmaker agree that the businesswoman's non-government organization (NGO) will be the recipient of the legislator's Priority Development Assistance Fund for purposes of supposedly implementing projects authorized by the Department of Budget and Management (DBM).
In exchange for selecting Napoles' NGO, the lawmaker will receive from the businesswoman 40 to 60 percent of the cash value of the project as kickback.
2) Lawmaker submits a list of projects to the DBM.
3) DBM in turn issues a Special Allotment Releases Order (SARO) to the lawmaker, who then endorses a selected Napoles NGO to the implementing agency.
4) Without any public bidding, the implementing agency enters into a memorandum agreement with the Napoles NGO for the implementation of the project.
5) After documentation is completed, the DBM issues a Notice of Cash Allocation (NCA) to the implementing agency.
6) Upon receipt of the NCA, the implementing agency issues a check to Napoles' NGO, which is deposited by JLN Corp. employees to the bank before it is withdrawn in cash and delivered to Napoles.
7) Along the way, the kickback of the lawmaker is already paid by Napoles in advance - first, upon submission of the project list to DBM, second, upon release of the SARO.
The chief-of-staff of the lawmaker or his representative, who facilitates documents and follow ups with agencies for Napoles and the legislator, also gets 1 to 5 percent of the project cost, also as kickback.
8) Napoles pockets the rest of the pork barrel funds after deducting the cost of overpriced supplies such as as agricultural lits and training materials procured from a supplier enterprise, which is owned by the businesswoman. The full remaining amount is pocketed by Napoles if there is no delivery of supplies.
78% of 'plundered' PDAF amassed by senators
Of the P745.63 million worth of PDAF allegedly amassed by five lawmakers in their transaction with co-conspirator Napoles, 78 percent or P581.14 million was accumulated by Revilla (P224.512 million), Estrada (183.793 million), and Enrile (172.834 milllion), according to the NBI.
The rest, 22 percent or P164.49 million, was allegedly amassed by former representative and incumbent Masbate governor Rizalina Seachon-Lanete (P108.405 million) and former APEC partylist Rep. Edgard Valdez (P56.087 million).
Three other former lawmakers were accused by the NBI of committing malversation, direct bribery, and other graft and corrupt practices for allegedly amassing a total of P89.752 million from their PDAF.
They are former representatives Rodolofo Plaza of Agusan del Sur (P42.137 million), Samuel Dangwa of Benguet (P26.770 million), and Constantino Jaraula of Cagayan de Oro (20.843 million).
The NBI said the amount allegedly amassed by the three former representatives "are the lawmakers' bribe for giving undue favor to a Napoles NGO, or represent his illegally contracted share from a malversation scheme designed to misuse and misappropriate public funds entrusted to him, and which he appropriates instead for private gain rather (than for) public benefit intended by law."
source: interaksyon.com
Wednesday, September 11, 2013
US bailout 5 years ago avoided catastrophe - Treasury
WASHINGTON - The US Treasury said Wednesday the government's massive response to the economic crisis five years ago paid off, avoiding a catastrophic breakdown of the financial system.
In a report marking the anniversary of the bankruptcy of investment bank Lehman Brothers -- which snowballed into the worst crisis since the 1930s -- the Treasury defended deploying hundreds of billions of taxpayer dollars to save other banks, major financial institutions and auto companies.
"Without the government's forceful response, that damage would have been far worse, and the ultimate cost to repair the damage would have been far higher," the report summarized.
While the rescue effort required piling up government debt, it was necessary, said Treasury officials who briefed reporters.
"We prevented a collapse of the financial system," one said on condition of anonymity.
"That's why we did it, and that's the measure of success."
The report says the government recovered what it spent -- or even turned a profit -- in the Troubled Asset Relief Program and the bailouts of housing agencies Fannie Mae and Freddie Mac, both efforts launched late 2008 by the outgoing administration of president George W. Bush.
Of $238 billion pumped into more than 700 vulnerable banks, only $3 billion has yet to be paid back.
From $182 billion allocated to rescue the giant insurer American international Group, the government counts $205 billion in returns, though that includes $17 billion in paper gains still not realized.
In the huge operations to save General Motors and Chrysler from bankruptcy, the government put up $80 billion.
It has since sold Chrysler to Italy's Fiat, and General Motors is back to health, selling cars at pre-crisis levels and relisted on the US stock market.
Even so, the auto sector rescue is likely to come up $15 billion short, the Treasury admitted.
The largest chunk of money went to Fannie and Freddie, whose survival was crucial in turning around the housing sector after it imploded when the recession left millions of Americans unable to pay their mortgages.
The government pumped $187 billion into the two, taking control of them after shareholders were wiped out.
While none of the equity has been recovered, the government has taken $146 billion in dividend payments from them and expects more in the future, the official said.
The downside is a government deficit that rocketed to $1.4 trillion in fiscal 2009 and continued to top $1 trillion until this year. That sent government debt to the current nearly $17 trillion, compared to just $10 trillion five years ago.
Critics of the government say that is why the bailouts were wrong, arguing that taxpayers will continue to bear the cost for years into the future.
But the Treasury officials said keeping the economy together and, especially, keeping the tens of thousands of auto company workers in their jobs were worth the costs.
People "do not really understand what we did," said another Treasury official.
"The run was stopped, the panic was stopped, the system didn't collapse."
"The ripple effects of letting those companies implode would have been huge."
source: interaksyon.com
Concepcion-owned appliance manufacturer eyes IPO
MANILA – The Concepcion family’s appliance manufacturing company is braving the equity market with a plan to sell its shares to the public for the first time.
Documents from the Securities and Exchange Commission showed Concepcion Industrial Corp filed an application on September 4 to raise P2.36 billion from the sale of up to 74.97 million primary and secondary shares at an offer price of up to P31.45 apiece.
In case of strong demand, the offering has an over-allotment option of up to 11.24 million shares. About 70 percent of the primary shares will be sold overseas.
Net proceeds from the transaction will fund the company’s expansion, day-to-day operations and pay down debt.
"Expansion pertains to the investment to fund initial working capital and startup costs associated with a potential joint venture with Midea to expand the company's products to other white goods or electrical home appliances," Concepcion Industrial said.
Maybank ATR Kim Eng Securities Pte Ltd was mandated as the international underwriter and book runner, while Maybank ATR Kim Eng Capital Partners Inc was tapped as the domestic lead underwriter and issue manager.
Concepcion Industrial, formerly Concepcion Airconditioning Corp, has Raul Joseph Concepcion as its chairman and chief executive officer.
A unit of Concepcion Industries Inc, Concepcion Industrial has a 60 percent interest in Concepcion-Carrier Airconditioning Co, the company behind the Carrier, Condura and Kelvinator brands.
Concepcion Industrial's primary purpose is to manufacture all kinds of appliances, machineries, equipment fixtures, accessories, parts and goods, and to trade the same on wholesale/retail basis.
Four companies -- Philippine Business Bank, Asia United Bank, Del Monte Pacific Ltd and AG Finance Inc -- have gone public this year, while Gokongwei-led Robinsons Retail Holdings recently bagged SEC approval to raise P36 billion through an initial public offering (IPO).
Amid the volatile market conditions, Travellers International Hotel Group Inc – a joint venture between Philippine billionaire Andrew Tan and Genting Group – and tug boat operator Harbor Star Shipping Services Inc deferred their IPOs, whereas Discovery World Corp of the Tiu family also pushed back its P1-billion share sale.
source: interaksyon.com
Bird strike grounds United Air flight to Guam
MANILA,Philippines -- A United Airlines flight to Guam was cancelled Wednesday morning because of a bird strike, the Ninoy Aquino International Airport flight information service said.
Flight UA-190 was supposed to depart at 10:55 a.m.
Airport authorities are still awaiting an advisory from airline officials on when the flight will proceed.
Bird strikes are a threat to flight safety and, in some cases, have caused accidents with casualties.
source: interaksyon.com
Sunday, September 1, 2013
Pope announces world day of fasting, prayer for Syria
VATICAN CITY - Pope Francis has called for the world to unite on Saturday in a day of fasting and prayer for Syria and said "God and history" would judge anyone using chemical weapons.
"May the cry for peace enter the hearts of everyone," the pope told tens of thousands of pilgrims at his traditional weekly blessing in the Vatican on Sunday.
"I condemn with particular force the use of chemical weapons. I still have in my mind and heart the terrible images of the past days," he said.
"There is judgment from God and history on our actions that no one can escape," he said, in his first explicit reference to the chemical arms claims.
He urged the international community to make "every effort" to begin a process of dialogue in Syria.
The pope said he would lead the prayers with a five-hour vigil in St Peter's Square on Saturday, just two days before the US Congress meets to debate possible strikes by the United States on Syria.
The relatively rare call for a global day of fasting and prayer was similar to one made by late pope John Paul II following the September 11 attacks in 2001, Vatican expert Luigi Accattoli told AFP.
Although he did not apportion blame for the alleged chemical attack, the pope's reference to divine judgment was also similar to John Paul II's call for members of the Italian mafia to confess their crimes and repent, Accattoli said.
His exhortation "Never again to war!" echoed a famous speech made by another of his predecessors, Paul VI, at the United Nations during the Vietnam War.
The pope's call came as the United States, France and other countries were making plans for a limited armed response against Syrian President Bashar al-Assad's regime over its alleged use of chemical weapons.
The Vatican has repeatedly pushed for a negotiated solution to the conflict and has already criticised plans by global powers for an armed intervention.
It has been more cautious, however, than some Christian leaders in Syria and the region who have openly defended the current Syrian government seeing it as a guarantor of a multi-religious state.
Christian minorities are concerned about the rise of radical Islam in the region and point to the example of Iraq, where there has been an exodus of Christians faced with violence and discrimination.
"My heart is profoundly wounded in these days by what is happening in Syria and I am anxious about the prospect of dramatic developments," the pope said.
"War leads to more war, violence to more violence," he said, voicing hope that "a chain of commitment for peace will unite all women and men of good will."
"Never again to war!" the pope said in his emotional speech, echoing a call made by late pope Paul VI at the United Nations during the Vietnam War.
The pope said he extended his invitation to push for peace in Syria to all Christians and the faithful from other religions, as well as non-believers.
"With all my strength, I call on the warring parties to listen to the voice of their own consciences, not to close themselves in their own interests but to look on the other as a brother," he said.
Saturday's prayers in St Peter's Square will begin at 1700 GMT and end at 2200 GMT, he said.
Fasting in the Catholic tradition is not as strictly interpreted as in other denominations or faiths.
"Everyone interprets it how they want. It can mean not eating or not drinking or missing only some meals or some courses in a meal," Accattoli said.
He said there have been other days of fasting and prayer for peace in Catholic Church history but these are rarely linked to a specific conflict.
source: interaksyon.com
Wednesday, August 28, 2013
Renee Olstead in Manila for dinner concert on Friday
American singer-actress Renee Olstead arrived in Manila Tuesday night, touching down at the Ninoy Aquino International Airport on board All Nippon Airways from Tokyo.
The 24-year-old native of Kingston, Texas will headline a special dinner concert at the ballroom of the Fairmont Hotel in Makati on Friday, August 28.
This is her first major concert and her second visit to the Philippines. Best known as a jazz performer with three albums to her credit, she first performed in Manila last year in a show with trumpeter Chris Botti.
Olstead’s voice has been compared to those of Billie Holiday, Amy Winehouse, and Adele.The local female trio Baihana will be her special guest in the concert.
As an actress, Olstead is best known for her role in the sitcom “Still Standing”, which ran from 2002 to 2006, and her co-starring turn in “The Secret Life of the American Teenager”, the ABC teen drama series which ran for five series from 2011 to June of this year.
She also appeared in the movies “13 Going on 30″.
source: interaksyon.com
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