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Upgrade for Spotify’s free users

LISTENING to music is a personal experience. A workout playlist, shower song on repeat, go-to track list while in transit, and a mellow playlist for relaxation in the evening are selected depending on one’s music taste.
In April, Spotify launched globally the ad-supported All-New Free on Spotify for Android and iOS to offer users a more personalized listening experience through playlists.
According to Benjamin Chelliah, Spotify Head of Communications for Asia, Spotify has more than 180 million active monthly users globally (paying and non-paying) and that their team has observed a trend of classifying songs into playlists among users.
“A playlist is a representation of a moment in our life,” Mr. Chelliah told the press at a Spotify event on Aug. 29, adding that users personalize the songs they listen to depending on their activities and the time of day.
“What we’ve done is we’ve always noticed what people are listening to just based on what you do on the app. We will take notice and make sure that the experience is enhanced for you. It’s seeing that people are gravitating towards playlists and realizing that a playlist today is important because it’s a representation of a moment,” he told BusinessWorld.
New users will be able to choose at least five artists upon signing in to the app through the Taste Onboarding process which will help with presenting music recommendations. The user will then be presented with 15 “personalized and curated” On-Demand playlists which are updated regularly depending on the artists and music the user frequently listens to. On-Demand playlists are streamed through Discover Weekly and Daily Mixes. Songs in the playlists are played in any order and the user is allowed unlimited skips.
Additional features such as the assisted playlisting allows the user to type song titles or song phrases then the app would begin recommending songs based on the users taste profile. Tapping the heart-shaped “like” button on songs or albums will automatically include them in the users “Your Favorites” playlist; while tapping the “hide” button will delete the song from the track selection. Spotify has also created Data Saver, a feature found on the app settings that allows the use of less mobile data.
Mr. Chelliah said that old free users need not undergo the Taste Onboarding step — instead their Spotify app will be updated and will be equipped with the All-New Free feature for the same experience.
“We take into consideration all the data (user’s activity) we’ve gotten, and we will give you the same experience of a personalized playlist,” he told BusinessWorld. — Michelle Anne P. Soliman

Aboitiz solar power unit expands to Mindanao

DAVAO CITY — Aboitiz Power Distributed Energy, Inc. (APX), the newly formed rooftop solar power unit of Aboitiz Power Corp. (AboitizPower), is ready to enter the Mindanao market after starting out in Luzon and the Visayas in April this year.
Jose Rafael R. Mendoza, APX general manager, said the market is ready for renewable energy options as well as the opportunity to have direct power source alternatives that are independent from distributors.
“There is an increased awareness in environmental issues [like] climate change,” said Mr. Mendoza last week in a presentation during the Mindanao Business Conference in Tagum City, Davao del Norte.
He also said APX’s solar rooftop solutions would help consumers in Mindanao reduce power demand from distributors, majority of which are electric cooperatives.
Another AboitizPower subsidiary, Davao Light and Power Co., is a distributor in Davao City and parts of neighboring Davao del Norte province.
Mr. Mendoza added that the new source is “part of our (AboitizPower) commitment to balance our energy mix.”
The Aboitiz group currently has a capacity of about 3,000 megawatts (MW) nationwide, including 1,272 MW of net sellable capacity under the Cleanergy brand.
It is expected to increase its renewable energy portfolio later this year with the operations of Hedcor, Inc.’s 68.8-MW plant in Manolo Fortich, Bukidnon.
Meanwhile, Romeo M. Montenegro, Mindanao Development Authority (MinDA) deputy executive director, said the entry of APX in the southern islands “will provide another renewable source for people who want to help rehabilitate the environment.”
“This is a welcome initiative because those who want to install solar panels will now have another source for it,” he said on Monday.
Mr. Montenegro, who is also the MinDA point person for the power sector, noted that he had been pushing for the continued development of green energy sources for Mindanao as the balance had been tilting in favor of fossil fuel following the opening of several coal-fired plants in recent years. — Carmelito Q. Francisco

Shang Properties launches new condo in Mandaluyong

By Mark Louis F. Ferrolino
Special Features Writer
HIGH-END developer Shang Properties, Inc. launched an exclusive resort-inspired condominium in Mandaluyong City — the Shang Residences at Wack Wack.
The towering 50-storey residential project is located on a 3,361-square-meter (sq.m) lot right across the Wack Wack Golf and Country Club.
Susan Lee Yu, sales director of Shang Residences at Wack Wack, told BusinessWorld in an interview that the focal feature of the condo is the lush green view of the iconic country club complex.
With its resort-style vibe, she said Shang Residences at Wack Wack is “a sanctuary in the city.”
The condominium offers a total of 460 units ranging from one bedroom, and two or three bedrooms, as well as a penthouse consisting of duplex units. Unit sizes start at 81.45 sq.m.
Amenities include steam and sauna rooms, a fully equipped gym, resort-style swimming pools, indoor and outdoor play zones, mini theater, pavilion, and spacious multi-function rooms.
The high-end condominium also features a grand lobby, an exclusive entrance and driveway, and five basement parking levels with about 460 slots.
In terms of security, units will have an intercom with direct link to the lobby receptionist, a CCTV monitoring system at the lobby elevators and amenities floor, magnetic lock access card for residential and carpark elevators, and a centralized fire detection and alarm system.
The project’s prime location allows for easy travel to and from key cities, including San Juan, Pasig City, and Makati City. Manila and Quezon City can also be accessed easily via the nearby major thoroughfares.
Unlike other condo projects, Shang Residences will not have any commercial spaces within its premises. There are nearby shopping and entertainment centers, as well as schools, universities, and medical centers.
The Shang Residences at Wack Wack broke ground last year. Turnover of units is expected by 2022 or 2023.
Ms. Yu said that Shang Properties is known for maintaining high quality standards in its projects.
“What differs us from others is the finishes and the quality that we deliver,” Ms. Yu said. “Our bosses are very particular with finishes and choices of materials.”
Meanwhile, Milen G. Treichler, marketing director of Shang Properties, told BusinessWorld in a separate interview the property firm is optimistic about the business prospects in the Philippines.
“Real estate is very exciting industry, and we’d like to be head and shoulders above the rest. If you notice the quality of our developments, we try to give very nice amenities, we try to give things that most people would want, such as very very nice views and well-designed luxury units,” Ms. Treichler said.
She said Shang Residences at Wack Wack is just one of the new projects they have. “Soon, we will be launching more projects,” she added.
When asked why Shang Properties is not as aggressive as other developers in growing its portfolio, Ms. Treichler said it is because they move slowly but surely.
“We spend a lot of time preparing and designing our projects,” she added.

A lady vanishes: In China, a movie star disappears amid a culture crackdown

BEIJING/SHANGHAI — Fan Bingbing, an A-list Chinese movie star who has appeared in the X-Men and Iron Man film franchises, has more than 62 million followers online in China and fronted campaigns for Montblanc watches and De Beers diamonds, has disappeared.
The star’s vanishing act — she dropped off the radar in June when reports started to swirl that she was involved in a probe into tax evasion in the film industry — has sparked wild speculation in China about her fate, including reports the actress had been detained.
Reuters was unable to contact Fan. Calls to her agent went unanswered. When asked about Fan, a spokesman for China’s Foreign Ministry replied: “Do you think this is a question of diplomacy?” The Beijing Public Security Bureau declined to comment.
The real-life drama has been playing out at a time when Beijing is tightening the reins on popular culture, looking to stamp out behavior seen as going against the ruling Communist Party’s ideological line and co-opting movie stars, pop bands, and online celebrities to endorse socialist values.
“It is written in our new movie promotion law that entertainers need to pursue both professional excellence and moral integrity,” said Si Ruo, a researcher at the School of Journalism and Communication at China’s prestigious Tsinghua University.
“In the unbridled growth of the industry in the past few years, we might have overlooked the need for positive energy, so the government’s intervention is reasonable.”
Fan Bingbing is the most prominent example. The actress, 36, is China’s equivalent of Hollywood star Jennifer Lawrence. She topped Forbes’ China celebrity rich list last year with earnings of 300 million yuan ($43.78 million).
A Chinese TV anchor in May was widely reported to have posted tax-dodging pay agreements online known as “yin-yang” contracts — one setting out the real agreed payment terms and a second with a lower figure for the tax authorities — that appeared to implicate Fan.
Hong Kong’s South China Morning Post reported that Fan’s studio denied she had ever signed separate contracts for a single job. China’s tax bureau said in June it was launching a tax evasion investigation into the film and television industry.
CULTURE CLEANUP
But the culture clean-up is more widespread, snaring video games, online bloggers and rap artists. Critics say it threatens to stifle creativity in some sectors, and is hitting the bottom lines of firms such as tech and gaming giant Tencent.
State-run media have begun using phrases such as “tainted artists,” with official bodies pledging to ban stars who behave badly, including drug taking, gambling, or visiting prostitutes.
An open letter earlier this month from members of the Beijing Trade Association for Performances said the body would “purify” the city’s entertainment and performance sector and guide artists towards “core socialist values.”
“Celebrities are seen as a weapon in the Party’s ideological battle, which is fought across all sectors all the time,” said Jonathan Sullivan, Director of China Programs at the University of Nottingham.
China has long sought to control the creative arts, from censoring movies to literature. However, a boom in online media has prompted a new push to cleanse the arts world, as President Xi Jinping looks to tighten his grip over a huge and diverse cultural scene popular with China’s youth.
That drive has created a dragnet that has swept over the creative arts, leaving few unaffected.
Fangu, a grunge band from Beijing, which has toured across China, said it had hit an issue with its name, which translates literally as “anti-bone,” though means something closer to “rebellious spirit.”
The band was forced to change its name this week ahead of a concert in Shanghai.
“The relevant bodies do not allow the word ‘anti’ so we have to change the name temporarily,” Qi Tian, an assistant to the band, told Reuters.
Video game makers have had to tweak their offerings to add patriotic Chinese elements. Others have simply seen approvals withheld. Big media platforms have been rapped for not censoring their content enough and some have had to take sites offline.
A report this month from a state university and circulated in official media, ranked Chinese stars in order of their social responsibility, including their moral conduct — underscoring an increasingly puritanical focus on good behavior.
Fan came in last place with zero points.
The ongoing shake-up is also hitting China’s burgeoning movie and entertainment industry hard. Share prices of related companies tanked after the government probe was announced and many are conducting self-checks on their tax situations.
Claire Dong, partner and attorney at Beijing-based Tiantai law firm, said there has been a surge of consulting requests since Fan got into hot water.
New policies are swiftly eroding the favorable tax treatment that actors and artists once enjoyed.
“This is what the government needed to do,” Dong said. “The government needed to guide the actors to be more focused on acting, not money making.” — Reuters

Ayala Land gets top rating for P8-billion fixed rate bonds

LOCAL DEBT watcher Philippine Ratings Services Corp. (PhilRatings) assigned the highest credit rating for Ayala Land, Inc.’s (ALI) proposed issuance of fixed rate bonds worth P8 billion.
In a statement issued Monday, PhilRatings said it had given the listed property developer’s proposed bonds a PRS Aaa rating with a stable outlook. The rating indicates that ALI has an extremely strong capacity to meet its financial commitment, while the obligation is “of the highest quality with minimal credit risk.”
Meanwhile, a stable outlook means that the assigned rating is unlikely to change in the next 12 months.
The bonds represent the remaining unissued balance out of the company’s P50-billion shelf registration program filed with the Securities and Exchange Commission back in 2016.
ALI said the funds raised from the issuance will be used to partially finance several projects in the pipeline, including the Seda Hotels Bay Area in Parañaque, Seda Hotels Bonifacio Global City expansion, leasing projects in Arca South, the Taguig Integrated Terminal Exchange, and the Vertis North Corporate Center Tower 3.
The company will also be funding projects outside Metro Manila, namely Ayala Malls Capitol Central in Bacolod, the Bacolod Capitol Corporate Center, and the Cebu Central Bloc mixed-use complex.
PhilRatings took into account ALI’s well-diversified portfolio with a sizable and strategic landbank, a healthy outlook for the real estate industry, its rising profitability and healthy cash flows, and a sound capitalization with manageable debt level and mix.
“PhilRatings shall continuously monitor developments relating to ALI and may change the ratings at any time, should circumstances warrant a change,” the debt watcher said.
ALI has programmed to spend P110.8 billion in capital expenditures this year, the highest allocation in the company’s history as it looks to take advantage of the strong demand for real estate properties.
Alongside the higher capital spending, the company has also outlined the launch of P125 billion worth of projects for 2018.
ALI generated a net income attributable to equity holders of the parent of P13.5 billion in the first six months of 2018, 18% higher year on year as revenues climbed 25% to P80.4 billion.
Revenues from the sale of residential lots and office spaces alone surged by 27% to P55.7 billion, while the sale of commercial and industrial lots went up by 16% to P3.9 billion.
The property giant recorded reservation sales of P72 billion during the six-month period, indicating the sale of P12 billion worth of residential units every month.
The company targets to generate P40 billion in revenues by 2020, aiming for an equal contribution from both residential development and leasing segments by then.
Shares in ALI rose by six centavos or 1.46% to end at P41.60 on Monday’s trading session. — Arra B. Francia

Flexible office spaces seen to continue growing

THE growth of flexible office spaces in Southeast Asia shows no signs of slowing down, with JLL expecting this property segment to account for as much as 30% of corporate portfolios by 2030.
The report “Technology firms transforming the office landscape in Southeast Asia” noted flexible work spaces have seen a 40% compounded annual growth rate in the last three years. Now, it takes up 2% of office stock in the Southeast Asian region, compared to 0.5-1% in 2015.
“(As) much as 30% of corporate portfolios could be flexible space by 2030. What initially began as a platform for freelancers and startups, flexible space providers are now tailoring their offering to accommodate corporate users. These corporate users are experimenting with co-working via pilot schemes,” JLL said.
JLL identified several factors driving the corporate demand for flexible spaces: flexibility to accommodate headcount changes; convenience with plug-and-play one-stop service; fostering collaboration and innovation; sense of community; and cost-effectiveness.
Singapore currently has the largest stock of flexible work space, followed by Manila and Jakarta.
JLL estimates flexible work space penetration rate in Singapore at 4.2%, while Manila has around 3%.
In Singapore, JLL noted flexible space appears to be more cost-effective than traditional office space. It estimated a workstation in a flexible space could be up to 50% cheaper than a workstation in a traditionally leased office.
“But coworking space is often much denser than traditional office space. When adjusted for density and like-for-like costs, the cost differentials decrease substantially, or disappear altogether. In Singapore, when density is taken into account, traditional leases cost only about 5% more than flexible space leases,” the report stated.
In the Philippines, co-working spaces have gained ground in recent years, as a growing number of Filipinos prefer flexible work arrangements.
Regus Philippines is a major player in the sector, having launched its 25th business center at the 41st floor of GT International Tower in Makati City last July.
Ayala Land, Inc. last year entered the flexible working space segment with its own brand called Clock In.
ASPACE is another homegrown co-working brand that runs collaborative workspaces in Makati, Bonifacio Global City, and Cebu. — Cathy Rose A. Garcia

Gov’t makes partial T-bills award

THE GOVERNMENT partially awarded the Treasury bills (T-bill) on offer yesterday as rates climbed across all tenors due to market expectations of fresh monetary tightening by the local and US central banks.
The Bureau of the Treasury borrowed just P8.316 billion during the T-bills auction on Monday out of the P15 billion it intended to borrow.
This, even as the offer remained oversubscribed as total tenders reached P20.7 billion, lower than the P21.9 billion offered by banks and other financial institutions last week.
Broken down, the government rejected all bids for the 91-day tenor even as total offers reached P5.435 billion out of the P4 billion it wanted to raise.
Had the government accepted all tenders, the papers would have fetched an average rate of 3.966%, 41.7 basis points (bp) higher than the 3.549% last week.
Meanwhile, the Treasury awarded P5 billion as planned in the 182-day debt papers out of total bids amounting to P7.304 billion. The average yield ended 24.4 bps higher at 4.597% from the previous rate of 4.353%.
On the other hand, the government partially awarded the 364-day T-bills, accepting offers amounting P3.316 billion out of the total P7.999 billion and versus its P6-billion program. The average yield rose to 5.4%, 26.3 bps higher than the 5.137% tallied in the previous auction.
At the secondary market ahead of the auction yesterday, the three- and six-month papers were quoted at 4.5217% and 4.74%, respectively, while the rate of the one-year notes stood at 5.1777%.
At the close of the trading, the 91-day and 182-day T-bills rallied to fetch lower rates of 3.4569% and 4.4583%, respectively, while the 364-day papers were quoted higher at 5.1907%.
National Treasurer Rosalia V. De Leon said the Treasury decided to reject all offers for the 91-day papers because the rates bid by banks were too high.
“For the 91-day, [we made a] full rejection because of the outrageously high bids,” Ms. De Leon told reporters Monday. “[For the 182- and 364-day papers,] we made full and partial award because it’s aligned with our own estimates where the bids should be.”
She added that market players priced in their expectations of another rate hike from the Bangko Sentral ng PIlipinas (BSP) as well as the US Federal Reserve.
Earlier this month, BSP Governor Nestor A. Espenills, Jr. hinted on another rate hike, saying the central bank will “take strong immediate action” to respond to the emerging threats to prices and inflation expectations.
The BSP has cumulatively raised rates by 100 bps since May, with rates currently ranging at 3.5-4.5%.
Meanwhile, two more rate hikes in September and December are expected from the Fed as the benchmark 10-year US Treasury on Friday passed the 3% mark for the first time in more than a month at 3.003%.
“The [Fed] rate hike was already priced in [and also from the] BSP following the August inflation print,” Ms. De Leon added.
Local inflation picked up to 6.4% last month due to higher food and oil prices. This was faster than July’s 5.7% and August 2017’s 2.6%.
Meanwhile, a bond trader said the rates submitted by dealers climbed, especially for the 91-day papers.
“As expected, the bids submitted were quite high so BTr was forced to reject bids on the 91-day [T-bills],” the trader said in a phone interview.
The trader said the market also factored in the weak peso.
The Treasury is raising P300 billion from the domestic market this quarter through auctions of securities, offering P195 billion in T-bills and another P105 billion in Treasury bonds.
The government plans to borrow P888.23 billion this year from local and foreign sources to fund its budget deficit, which is capped at 3% of the country’s gross domestic product. — Karl Angelo N. Vidal

Paul McCartney scores US No. 1 after nearly 40 years

NEW YORK — Paul McCartney is back on the top of the charts, on Sunday earning his first solo number-one album in the United States in 36 years.
Egypt Station — a confident 16-track album in which McCartney experiments with a younger rock feel in addition to his classic Beatles sound — marked the first time that he has ever debuted as a solo artist on top of the benchmark US Billboard chart.
The English legend — who at 76 retains a hectic touring schedule — spared no promotional effort for the album, appearing on US late-night shows and livestreaming an invite-only concert inside New York’s Grand Central Station.
Surprisingly, McCartney did not replicate the feat in his native Britain, where Egypt Station debuted at number three, with veteran US rapper Eminem’s surprise album Kamikaze reigning for a second week.
Egypt Station sold the equivalent of 153,000 copies in the United States in the week since its release on Sept. 7, tracking service Nielsen Music said.
Unusually for a chart-topping album in recent years, virtually all of the sales were traditional purchases rather than through streaming or individually downloaded tracks.
McCartney, who last topped the chart as a solo artist in 1982 with Tug of War, achieved the second largest gap between number-one albums for any artist.
Johnny Cash holds the record with a break that was seven months longer than McCartney’s when the country great posthumously hit number one in 2006.
Since Tug of War, McCartney has also reached number one four times in the United States with Beatles anthologies. — AFP

BSP studying new tool to curb speculative FX trades

By Melissa Luz T. Lopez, Senior Reporter
THE BANGKO SENTRAL ng Pilipinas (BSP) is readying a new measure that would ward off speculative players in the foreign exchange (FX) market, as the regulator searches for new ways to quell sharp swings in the daily peso-dollar trading.
BSP Governor Nestor A. Espenilla, Jr. said the Monetary Board is currently studying a tool that would actively limit speculative currency trades, in a bid to reduce pressures on the peso.
“We’re looking at some other measures on the regulatory side to try to curb speculative activity,” Mr. Espenilla told reporters on the sidelines of a signing ceremony yesterday. “Pinag-aaralan pa, we want to understand better how to do it.”
In recent weeks, policy makers have been vocal about “excessive volatility” in the currency market and noted that these warrant close monitoring.
The peso has breached fresh 12-year lows this September as the local unit broke the P54-to-$1 level last week. The currency weakened anew to close at P54.11 on Monday.
Mr. Espenilla said they have seen increased speculative trades recently, which have been driving greater demand for the dollar to the detriment of the peso. These refer to knee-jerk dollar purchases without an underlying transaction where it will be used.
“It always happens. The market is very opportunistic so on news, they operate,” the BSP chief said, although refusing to give more details about the planned measure.
Mr. Espenilla said they are “rushing” the approval of these new rules.
“There are many things to look at. Documentation is one way to tell whether a transaction is speculative if there’s no underlying documentation,” he said. “A lot of the trades are NDF (non-deliverable forward contracts), and if there’s an NDF and there’s no documentation, what does that look like? Those are the things we are looking at.”
The BSP is also looking to put more teeth into the existing code of conduct for currency traders, with plans to make the rules binding and make traders accountable to the central bank.
Last week, the BSP also announced guidelines for the Currency Rate Risk Protection Program, where bank clients with foreign currency obligations worth at least $50,000 can hedge their exposures for exchange rate losses for a 90-day period.

DMCI Homes completes 1st building of Bristle Ridge ahead of schedule

DMCI Homes finished in August the construction of the first building of its Bristle Ridge condominium in Baguio City, and has started turn over of units to owners.
In a statement, DMCI said the Oakhill building of Bristle Ridge was completed nine months earlier than the May 2019 committed ready-for-occupancy schedule.
Bristle Ridge is a three-building, mid-rise development located along Padcal Road. This is DMCI Homes’ second residential condo in Baguio City, after Outlook Ridge Residences.
With a modern country theme, Bristle Ridge offers “an exclusive, secure, and relaxed living environment and the convenience of residing near commercial centers, schools, medical institutions and tourist spots.”
The project will have 374 units of one-bedroom, two-bedroom and three-bedroom units, ranging from 32 to 96.50 square meters (sq.m.). All units will have a balcony.
DMCI Homes said it allocated 5,183.3 sqm. of the 1.276-hectare development to open space “to keep the atmosphere calm and unhurried in the ever flourishing Philippine summer capital.”
Among its amenities include a lounge area, coffee shop, fire place, fitness gym, audio-visual room, game area, function hall, and al fresco area. It also has a roof garden, viewing deck, fire pit, play area and gazebo,
DMCI Homes, the property arm of DMCI Holdings, is known for building quality resort-inspired communities in Mega Manila, Baguio, Boracay, and Davao City.

AgriNurture forges deal to buy 2 million MT of rice from Vietnam

AGRINURTURE, Inc (ANI) announced on Monday that it had signed a $1-billion exclusive deal with Vietnam Southern Food Corp. (Vinafood II) to import 2 million metric tons (MT) of rice to the Philippines starting this year.
Vinafood II is a state-owned corporation designated by the government of Vietnam to export rice and help achieve food security in Southeast Asia.
The deal was granted an original proponent status last month. Under the joint venture agreement, it was proposed that the “consortium shall finance the supply of NFA rice with no cash out on the part of government.”
Both parties will jointly determine the origin, suppliers, delivery and arrival periods, packing and loading and discharging ports, while the NFA (National Food Authority) will determine the type of commodity to be imported, its specifications and quantity.
“As accepted by NFA, the ANI consortium will import as much as 500,000 metric tons of rice, equivalent to two weeks national inventory of subsidized NFA rice per quarter,” ANI said in a statement.
“Since NFA will not release a single peso for said purchases, the agency can use its budget to buy more palay from local farmers or import more rice as needed,” it added.
ANI has been engaged in rice importation and trading in the first quarter of 2015.
The NFA has been a subject of criticisms recently for failing to procure rice from local farmers, leading to a diminished supply of NFA rice in the market and the increased price of commercial rice.
According to NFA, instead of buying palay, it used its funds to pay maturing loans, which lawmakers said was a technical malversation of funds. — Reicelene Joy N. Ignacio

Predator slays competition at N.America box office


LOS ANGELES — The Predator — the latest installment in the long-running sci-fi action series — chewed up its rivals to debut atop the North American box office this weekend, industry data showed Sunday.
But the Fox reboot, which cost $88 million to make, will look to earn back some money in international markets, as its estimated $24 million haul did not meet expectations.
The movie, which comes more than 30 years after the franchise’s original film starring Arnold Schwarzenegger, courted controversy before its release when the studio cut a scene featuring an actor who was a registered sex offender.
Star Olivia Munn had requested the change, saying she was unaware of the actor’s past when the scene was filmed. Director Shane Black initially said he hired the actor because he was a friend, but later issued a strong apology.
Dropping to second place was last week’s top draw, horror movie The Nun — the latest fright fest in the popular Conjuring series. It earned an estimated $18.2 million in its second week, box office tracker Exhibitor Relations said.
Nun stars Taissa Farmiga — whose sister Vera headlined two Conjuring films — in a story about a young nun, an exorcist and a guide stumbling onto a dark secret deep in Dracula country: the Romania of 1952 — Transylvania, no less.
Opening in the third spot was A Simple Favor, a tale about a mommy blogger (Anna Kendrick) investigating the disappearance of her friend (Blake Lively). The Lionsgate film raked in $16.1 million on the back of positive reviews.
Matthew McConaughey’s new film White Boy Rick opened in fourth place with $8.8 million. The movie, based on a true story, stars the Oscar winner as the father of a teenage boy who became an informant for the FBI in the 1980s.
Glitzy rom-com Crazy Rich Asians, another Warner Bros. product along with The Nun, fell to fifth place. The film, with a nearly all-Asian cast led by Henry Golding and Constance Wu, took in $8.7 million, building on a crazy-good run.
Its North American take stands at nearly $150 million, with another $28 million earned overseas.
Rounding out this weekend’s top 10 were: Peppermint ($6.1 million); The Meg ($3.8 million); Searching ($3.2 million); Unbroken: Path to Redemption ($2.4 million); and, Mission Impossible — Fallout ($2.3 million). — AFP

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