Home Blog Page 12137

Kerber, Keys set up quarterfinal as Berdych fires up

MELBOURNE — Angelique Kerber and Madison Keys set up an enticing Australian Open quarterfinal Monday, with one roaring through and the other having to dig deep to stay in the title hunt.

Dangerous Czech Tomas Berdych, a two-time Melbourne Park semifinalist, also powered into the last eight, demolishing Italy’s Fabio Fognini 6-1, 6-4, 6-4.

His reward is a clash with either Swiss maestro Roger Federer or unheralded Hungarian Marton Fucsovics for a place in the semifinals on Wednesday.

Germany’s Kerber is the only Grand Slam champion left on the women’s side of the draw, and she was given a big fright as she chases her second Melbourne Park crown after beating Serena Williams in 2016.

After crushing Maria Sharapova in the last round, she came up against gritty Taiwanese veteran Hsieh Su-wei who stunned the 21st seed by taking the first set on Rod Laver Arena.

At one point Kerber was serving to stay in the match, but she bounced back to win 4-6, 7-5, 6-2.

“Credit to her, she played unbelievable. I was running everywhere,” said Kerber, who had a poor 2017 after starting the year as world number one.

“I was just trying to focus on every point.”

Hsieh, ranked 88, was always going to be a threat after knocking out world number three Garbine Muguruza and the dangerous Agnieszka Radwanska en route to the fourth round.

The win set Kerber up with a clash against American Keys, a semifinalist in 2015 who has found a new lease of life under the guidance of former great Lindsay Davenport.

Seeded 17, she flattened French eighth seed Caroline Garcia 6-3, 6-2 in just 68 impressive minutes.

“I feel like I’m playing just solid, consistent tennis,” said Keys, a US Open finalist last year. “I think today was a good example of that. I think I served well. I think I returned well.”

The 22-year-old added: “Right now I’m definitely really enjoying my job.”

Whoever wins that match will have a potential semifinal against world number one Simona Halep, although the Romanian first has to get past Japan’s Naomi Osaka on Margaret Court Arena.

How she backs up will be keenly watched after her third round epic, where she was pushed to 15-13 in the third set by American Lauren Davis.

US Open finalist Madison Keys says she will continue to play “smart” tennis in search of a first Grand Slam title after steamrollering her way into the Australian Open quarterfinals Monday.

The 17th seed flattened French eighth seed Caroline Garcia 6-3, 6-2 in 68 dominant minutes in their fourth-round clash.

“I was just playing really smart,” said the American, who made the semis at Melbourne Park in 2015 and has not dropped a set so far in her impressive run this year.

“I wasn’t going for unbelievable shots and things like that,” added Keys who blasted 32 winners past a helpless Garcia.

“I just was waiting for the right ball, then trusting that I was going to make the right decision when I finally had the opportunity to go for it.”

Keys said she would let her coach, the “amazing” 2000 Australian Open champion Lindsay Davenport, do the scouting on Kerber for her. The final women’s match sees sixth seed Karolina Pliskova take on fellow Czech Barbora Strycova, seeded 20.

ENJOYING IT
Berdych, a semifinalist in 2014 and 2015 at his most successful major, easily beat Fognini with the 32-year-old saying: “I’m really enjoying every single moment on court.

“I’m feeling good and healthy.”

He is now in his seventh Australian Open quarterfinal with Federer, who knocked him out in the third round last year, looming.

The defending champion takes aim at an incredible 14th Australian Open quarterfinal later when he faces one-time training partner Marton Fucsovics.

The Swiss maestro, 36, has made at least the last eight every year since 2004, bar a hiccup in 2015, with the odds of him doing so again heavily stacked in his favor.

Fucsovics has never beaten anyone ranked higher than 13th and is making his tournament debut.

Novak Djokovic is also in action in a night match as he looks to reach the last eight in Melbourne for a 10th time, with a tough test against talented Chung Hyeon.

The glasses-wearing South Korean, ranked 58, upset fourth seed Alexander Zverev in five sets in the round of 16 and Djokovic is wary.

“He’s playing great. He’s fit. He doesn’t have too many holes in his game,” he said.

The winner will face either Austrian fifth seed Dominic Thiem or American surprise packet Tennys Sandgren. — AFP

NEDA Board to review negative list in February

SOCIOECONOMIC Planning Secretary Ernesto M. Pernia said that the 11th Foreign Investment Negative List (FINL) will be discussed with the President in the next National Economic and Development Authority (NEDA) Board meeting possibly next month.

He said that this would be a follow-up after the proposed FINL was “presented in a cabinet meeting two weeks ago.”

“The next submission is to the NEDA Board for approval, which is chaired by the President. That NEDA Board meeting will probably happen later this month, or early February,” Mr. Pernia said in a Bloomberg TV interview yesterday. 

Mr. Pernia said that there are plans to redefine “public utilities” in the 1987 constitution to make foreign firms more interested in investing more than the current limit of 40% ownership.

“It would be feasible because telcos will be taken out of the definition of public services. So telcos are not included in the public services,” Mr. Pernia said, referring to House Bill No. 4389, authored by former president and now House Deputy Speaker Rep. Gloria M. Arroyo of Pampanga’s second district.

“The critical thing is to get them attracted to come here. And if it requires the raising of equity ownership of foreign telcos to 70%, or more than majority, 50%, then maybe we are going to do it. Because the President is determined to have a third player,” said Mr. Pernia.

Malacañang has said that Chinese and South Korean firms are interested to sign up local partners to become the third telecommunications firm. It also said that the third player could emerge by March.

President Rodrigo R. Duterte signed on Nov. 21 Memorandum Order No. 16 that ordered government agencies to “take immediate steps” to remove barriers to foreign participation in various industries.

Sectors included in the memorandum include: private recruitment; the practice of certain professions, where allowing foreign participation will redound to the public benefit; contracts for the construction and repair of locally funded public works; public services, except activities and systems that are recognized as public utilities such as transmission and distribution of electricity, water distribution, and sewerage systems; culture, production, milling, processing, and trading except retailing, of rice and corn and acquiring by barter, purchase, or otherwise, rice and corn and the by-products thereof; teaching at higher education levels; retail trade enterprises; and domestic market enterprises.

The 10th FINL signed by President Benigno S.C. Aquino III restricts to Filipinos the practice of all licensed professions; retail; cooperatives; private security agencies; small-scale mining; utilization of marine resources; ownership, operation and management of cockpits; and manufacture, repair, stockpiling and/or distribution of nuclear weapons.

Foreigners meanwhile can have limited stakes of up to 25% in: private recruitment agencies, the construction and repair of locally funded works like infrastructure and foreign-assisted projects. The list of businesses where foreigners can own up to 30% are: advertising; exploration, development and utilization of natural resources; private land; public utilities; education; rice and corn administration; financing and investment companies; suppliers to state-owned corporations and agencies; defense-related structures; public utility franchises; and private domestic and overseas construction contracts.

The list of industries allowing up to 40% foreign ownership include security; defense; those industries that pose a risk to health and morals, such as gambling, bath houses and massage clinics; and small-scale and medium-scale enterprises of a certain size. — Elijah Joseph C. Tubayan

Thousands in Ireland honor late Cranberries singer O’Riordan

LONDON — Thousands of people lined up in the Irish city of Limerick Sunday to pay respects to Cranberries singer Dolores O’Riordan, who died suddenly in London last Monday, local media reported.

O’Riordan’s mother, as well as her five brothers and sister, accompanied the coffin holding her body into St. Joseph’s Church in the city, in Ireland’s southwest, according to the RTE national broadcaster.

Bishop of Limerick Brendan Leahy said Sunday that this was Limerick’s public moment to bid farewell to O’Riordan, it added.

Footage of the crowds showed mourners braving adverse weather and sheltering under umbrellas as they queued to enter the church and file past the open coffin.

The 46-year-old frontwoman of the multi-million selling Irish rock band was found dead in a London hotel on Monday, aged 46.

Her private funeral, which will be attended by around 200 family members and friends, will take place in the Church of Saint Ailbe, in Ballybricken just outside Limerick, on Tuesday, the church said.

Following her death, Irish Prime Minister Leo Varadkar was among the first to pay tributes, calling O’Riordan “the voice of a generation.”

London coroner Stephen Earl said Friday that he was awaiting test results following a post-mortem, with a full inquest set for April 3, although her death is not being treated as suspicious.

The Cranberries achieved international success in the 1990s with their debut album Everyone Else is Doing it, So Why Can’t We? which included the hit single “Linger.”

The follow-up album gave rise to politically charged single “Zombie,” an angry response to the deadly Northern Ireland conflict, which hit number one across Europe.

The band sold around 40 million records worldwide.

She was in London to record a version of “Zombie” with the hard rock band Bad Wolves, the group said on Tuesday.

The Cranberries’ greatest hits collection Stars: The Best Of 1992-2002 has hit number 16 on Britain’s album chart, higher than when it was released in 2002. — AFP

NY vows to reopen Statue of Liberty, at its own cost

NEW YORK — The Statue of Liberty, temporarily closed by a US government budget shutdown, will reopen on Monday to once again beckon other countries’ “huddled masses” — as well as not-so-poor tourists with dollars to spend.

“We will not stand by as this symbol of freedom and opportunity goes dark,” New York Governor Andrew Cuomo said in a tweet Sunday, announcing that the state had found funds to keep the iconic landmark open.

Shutting the surrounding park “jeopardizes an economic driver for the state of New York,” said Mr. Cuomo, a Democrat.

“This park is a symbol of New York and our values. And her message has never been as important as it is today,” he said, alluding to the budget battle in Washington, where Democrats were seeking protection for hundreds of thousands of undocumented immigrants before agreeing to Republican proposals to extend funding for the government.

As a result of the budget impasse, many government services including the Statue of Liberty have been closed since Saturday.

Speaking to reporters from the southern tip of Manhattan Island with the Statue of Liberty in the background, Mr. Cuomo explained that the state will provide the $65,000 it takes each day to pay the federal workers who keep the park open.

The statue on Liberty Island, as well as the related museum on nearby Ellis Island, where arriving immigrants were once processed, annually welcome about 4.5 million visitors. Most come by boat from Manhattan.

TOURISTS CAUGHT UNAWARE
On Saturday, hundreds of tourists were caught unaware, even if tour companies quickly offered boat tours, or reimbursement, as a salve.

The Statue of Liberty was a gift from France to the United States in 1886 to honor the centenary of US independence 10 years earlier.

It is among the hundreds of parks, battlefields, recreation areas and monuments managed by the National Park Service.

After Democrats and the majority Republicans in Congress missed a Friday deadline to pass a new federal budget, most “non-essential” government services and programs were ordered to close.

Some of the best-known parks have been kept open, including the Grand Canyon in Arizona and Yellowstone National Park. But most are operating with skeleton staff, meaning many stores, restaurants and even restrooms are closed.

In an unusual move, Interior Secretary Ryan Zinke, whose department oversees the parks service, said on Twitter that he had personally helped welcome visitors to the World War II memorial on the National Mall in Washington.

During the last government shutdown, a 16-day standoff in 2013, the memorial was closed. That prompted a group of military veterans, some of them in wheelchairs or hobbling on canes, to force their way in.

It was an embarrassment the White House of President Donald J. Trump has vowed to avoid. — AFP

Magic stun Celtics; Pacers stop Spurs

WASHINGTON — The Orlando Magic parlayed a big third quarter into a 103-95 upset of the Boston Celtics on Sunday, their third win in 20 games coming against the NBA’s Eastern Conference leaders.

Elfrid Payton scored 22 points for the Magic, who had lost their last 14 games in Boston in a skid stretching back to February 2010.

Orlando spoiled the return from injury of Boston point guard Kyrie Irving, whose 40 points couldn’t prevent the Celtics from dropping a third straight game for the first time this season.

Irving had missed Thursday’s loss to the Philadelphia 76ers with a nagging shoulder injury.

Jaylen Brown scored 17 points and Marcus Morris finished with 12 to score in double figures for the fourth consecutive game for the Celtics.

Evan Fournier scored 19 points and Aaron Gordon produced a double-double of 11 points and 12 rebounds for the Magic, who started the day in a three-way tie for the worst record in the league.

Orlando trailed, 59-58, at halftime, but outscored the Celtics, 32-12, in the third quarter to take a 90-71 lead into the final frame.

The Magic’s upset bid appeared to be coming unstuck as they made just one of their first 16 shot attempts of the fourth quarter.

The Celtics trimmed the deficit to seven points on Al Horford’s hook shot with 1:13 remaining.

A freethrow from Payton and Fournier’s floater in the final minute stretched Orlando’s lead back to 10.

Elsewhere, Victor Oladipo delivered 19 points as the Indiana Pacers ended the San Antonio Spurs 14-game winning streak at home with a 94-86 victory.

The Spurs lost at home for the third time this season and the first since Nov. 10 against Milwaukee.

Pau Gasol had 14 points to lead the Spurs who were minus Manu Ginobili, Rudy Gay and Kawhi Leonard because of injuries.

Tony Parker came off the bench to record 12 points and five assists. It marked just the 14th time in 1,165 games that Parker has come into the game off the bench. — AFP

Guideposts for the successful execution of inclusive business strategies

Inclusive business strategies — more commonly known as Inclusive Business Models (IBMs) — are business solutions that provide access to economic opportunities to the poorest segments of society in a manner that will make businesses more profitable and sustainable. They are implemented by incorporating low-income populations in the firms’ value networks for the purpose of insuring, among other things, a continuous source of well-trained and highly capable workers, constant and reliable supplies of raw materials and other inputs, and steady increases in sales revenue mainly from poor and hitherto unserved or underserved customers who benefit from lower-priced versions of their products and services.

Pursuing inclusive strategies entails a major shift in the way that business is conducted.

Most importantly, it requires giving due importance to the economic interests and material well being of ALL groups that contribute to the production process (aka stakeholders), and not being exclusively focused on the financial interests of the owners. This by no means requires the rejection of the traditional goal of profit maximization, only that we follow a radically different approach in pursuing this goal.

From a larger social science perspective, the function of the firm as a specialized social institution may be viewed as one of creating economic value for society, and appropriating this among the different groups that contribute to the production process — the firm’s customers, its workers, its suppliers, and the community of which it is an integral part. By this dictum, the goal of the business enterprise in modern society may now be stated as one of maximizing the production of economic value.

By implementing appropriate strategies and governance mechanisms for the allocation of value to its other stakeholders, we contend that the residual value that accrues to the owners of the firm (aka profits) will consequently be maximized.

AIMING FOR THE BOTTOM
To make business truly serve its modern role of addressing the needs of society, it should go beyond seeking the economic interests of its major stakeholders.

It should, additionally, pursue what are known as “bottom (or base)-of-the-pyramid” (BoP) strategies, those intended to uplift the economic condition of the poorest and least privileged members of society among its stakeholders. IBMs are the means of achieving this social objective.

Over the past several years, business has been playing an increasingly important role in poverty alleviation and social development. These initiatives are usually considered as part of the firms’ corporate social responsibility and are assumed to entail sacrifices in profits in exchange for the material benefits that they provide for society.

Our position, however, is that IBMs have a potential positive impact on the firm’s long-term profitability and should therefore be an integral part of any business firm’s strategic agenda.

What follows are important guideposts for the successful implementation of inclusive business strategies.

GUIDEPOST #1:
GIVE PRIMARY IMPORTANCE TO YOUR CUSTOMERS

Among the four major groups that comprise a firm’s stakeholders, its customers, not the owners of the firm nor their appointed managers, are the ones who determine economic value. It is they who decide what their needs are and what is useful to them. They are the ones who set the maximum prices that they are willing to pay for these products and services (or what are known as “reservation prices”). It is only proper, therefore, that they be given the utmost importance that they deserve. They are, after all, the major contributors to the firm’s revenue streams that are the lifeblood of any business enterprise.

GUIDEPOST #2:
DEVELOP AND IMPLEMENT STRATEGIES FOR GENERATING VALUE

The first order of business of the enterprise, whether an ongoing one or a newly established venture, is to identify its market, or the customers whom it intends to serve, and to determine the current and potential demand — or to create one, if necessary — for the products or services that it intends to introduce in that market. Attention should be focused on currently unserved or underserved markets, particularly potential customers in the poorest segment of society. This incipient demand should be sustained and continuously enhanced through appropriate promotional and product development strategies, and by maintaining a continuing and mutually beneficial relationship with customers.

GUIDEPOST #3:
DEVELOP AND IMPLEMENT STRATEGIES FOR PRODUCING VALUE

The next important step is to produce in the most effective and efficient manner the economic value that customers expect from the firm. This requires building a productive organization by investing in appropriate production technologies, developing a culture that encourages sharing and collaboration, and designing an organization that facilitates the unfettered movement of people and information across virtual boundary lines within the organization, and between the organization and its environment.

GUIDEPOST #4:
DEVELOP AND IMPLEMENT STRATEGIES FOR APPROPRIATING VALUE

We conceptualize the firm as a value-producing (or -creating), value-appropriating (or -allocating) social institution.

While customers determine the value that they perceive in the firm’s products, it is the firm that creates that value by producing the goods and services that it intends to offer to them. The net economic value that goes to the consumer (aka consumer surplus) for a unit of a product or service that she buys from the firm is the value that she attaches to that product less the price that she pays for it. It is clear therefore that the amount of value that is appropriated to the consumer depends in large measure on the firm’s pricing strategies. The higher the price, the smaller the value that accrues to the customer, and the larger the portion that is retained by the firm.

The firm’s pricing policies determine the size of its sales revenue which constitutes the main source of value for allocation to the firm’s other major stakeholders. The value that goes to the firm’s workers is decided through its compensation and motivational strategies, and the value that is allotted to its suppliers and distributors is determined through its supply chain (or value network) management strategies. The residual value that remains is what constitutes profits — the value that accrues to the owners of the firm.

It should be noted that these value-appropriating strategies also serve the added purpose of enhancing the value of the firm’s output, reducing its operational costs, and improving its brand image. For example, giving more value to customers ensures their continued patronage, paying wages that are higher than market rates and providing comfortable working conditions enhance productivity, and treating suppliers and distributors fairly reduces what are known as transaction costs.

Creating value for society has traditionally been subsumed under the rubric “Corporate Social Responsibility” or CSR.

From a purely strategic point of view, however, we maintain, as we have noted earlier in this essay, that the more appropriate way of dealing with the firm’s social agenda is through BoP strategies and the implementation of IBMs.

Not only do these strategies serve the long-run strategic interests of the firm but, more importantly from a social development perspective, it enables business firms large or small and in all areas of business to collaborate with government agencies, multilateral institutions, and NGOs in helping achieve the country’s Sustainable Development Goals (SDGs), notably those relating to poverty alleviation and the reduction of economic inequality.

The article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or the MAP.

 

Niceto S. Poblador is a member of the MAP Corporate Governance Committee, a retired UP Professor, and until recently was Professorial Lecturer at the UP School of Economics.

nspoblador@yahoo.com

map@map.org.ph

http://map.org.ph

Globe’s Cu says common tower policy won’t improve connectivity

By Patrizia Paola C. Marcelo,
Reporter

GLOBE TELECOM, Inc. said the government’s plan to require telecommunications operators to lease cell sites from tower companies is likely to slow down, not hasten, the construction of more cell sites.

“The future towers, if we don’t build them, exclusivity should not be an issue.  Now, what is difficult to implement is telcos cannot build their own towers. I don’t see how that actually hastens the progress of building connectivity and improving connectivity in this country. I think it just slows it down right over time,” Globe President and Chief Executive Officer Ernest L. Cu said during a press conference on Monday.

But Mr. Cu said they are open to sharing cell site towers with other telcos in the future.

“We’re very open. We’ve never been closed to sharing towers moving forward. Our own towers are very, very full of equipment given the large bandwidth… People always say we have lots of spectrum. We admit we have lots of spectrum, but the spectrum is required to deliver the capacity in a scenario where there is not enough cell sites,” the Globe official said.

The government announced last week its plan to require telecommunications companies to lease cell sites from a tower provider, saying this will provide better telecommunications services to the public and level the playing field with the entry of a new player.

Under the common tower policy, telcos will not be allowed to build their own towers, as what they have been doing. Telecommunications companies have been urging the government to rationalize the permitting process for establishing new cell sites, saying the process of securing permits takes around eight months.

Presidential Adviser on Economic Affairs and Information Technology Communications Ramon P. Jacinto said the Philippines needs about 50,000 more cell towers for better coverage. The country currently has only 16,000.

The guidelines on the common tower policy will be rolled out next month, while agreements with companies are eyed by the last quarter of the year.

Meanwhile, Globe signed a partnership agreement with Pilipinas Shell Petroleum Corp. (PSPC) to allow for the installation of new cell sites in some of its service stations. Fourteen Shell service stations, mostly along major thoroughfares, have already been identified as target areas for cell sites, which are estimated to cost P15 million each.

With the partnership, Globe GoWiFi hot spots will soon become available in select Shell retail stations. Shell will also offer the Globe GCash’s Scan-to-Pay facility.

A master plan for a stretch of Pasig riverfront

A STRETCH of the Pasig riverfront is being developed into an estate that will revive public access to the waterfront.

That waterfront estate — 35 hectares in size — will be built together by Ayala Land, Inc. (ALI) and Eton Properties Philippines, Inc. (EPPI), which formed a 50-50 joint venture for that purpose.

The project’s called Parklinks.

At the project’s launch last week, ALI Senior Vice-President and Strategic Landbank Management Group Head Anna Ma. Margarita B. Dy said that 50% of Parklinks’ total area will be dedicated to open spaces.

“We envision this to be the greenest waterfront estate East of Metro Manila. In this 35-hectare estate, we will provide what the city needs most — well-designed and well-maintained public open spaces — the much needed ‘breathing’ spaces that is now so vital in any urban redevelopment,” she said.

Ma. Carmela K. Ignacio, ALI assistant vice-president for Strategic Landbank Management Group, said that both ALI and EPPI are investing a total of P53 billion for the first phase of the project that will cover 16 hectares of the entire estate. Of the total funding, 75% will be spent on building residential towers, 17% for leasing businesses, and 8% for estate development.

Parklinks’ master plan includes a three-hectare central park, esplanade, river park terraces, running and bike trails, and riparian gardens, designed to encourage social interaction. With a well-designed and managed walkway system, individuals from malls, offices and living spaces could reach these social spaces with a mere five-minute walk.

According to Ms. Ignacio, accessibility is the strong attribute of Parklinks. She shared that the estate will be accessible through C-5, Amang Rodriguez Ave., and Ortigas Ave. Plans also include additional linkages to its neighboring communities like Circulo Verde and Metropoli.

As part of the development, a 110-meter long and 25-meter wide bridge will be built, traversing the Marikina river to link Pasig City and Quezon City. The bridge will create a new route that will help ease vehicular traffic in the northeast and east of Metro Manila. With dedicated lanes for bikers and pedestrians, crossing the bridge will be a safe and pleasant experience.

The joint venture will also be building a 58,000-square meter (sq.m.) regional mall, situated along the estate’s C-5 frontage. It will house a 3,500-sq.m. sports complex with a basketball court, volleyball court, badminton courts, a fitness gym, and dance studio.

“The mall is envisioned to perfectly balance nature with its retail, dining and entertainment offerings. It would offer a new family-oriented lifestyle experience by early 2021,” Ms. Ignacio said.

The development will also introduce a new standard for waterfront living with ALI’s flagship residential brands Ayala Land Premier and Alveo which are both set to introduce five residential towers over the next 10 years.

Last Jan. 15, a groundbreaking ceremony for Parklink’s construction was held. The joint venture is expected to complete the project’s first phase by 2027.

Funding for the second phase of the development could reach over P60 billion, Ms. Ignacio told reporters on the sidelines of the launch. She added that there will be more residential properties and offices, as well as other retail centers along a stretch of the Pasig riverfront for the next development. — M.L.F. Ferrolino

Fuel prices up again this week

OIL COMPANIES will be raising the prices of petroleum products this week, with diesel and kerosene both rising by P0.50 per liter and gasoline by P0.35/L. The price rise reflects the movements in the international petroleum market, the oil companies said. This week’s price adjustment comes after the Department of Energy (DoE) earlier told oil companies to advise their dealers that pump prices should reflect stocks that had been imposed the new excise tax rates. DoE said old stocks should be sold on the old excise rate or at zero-rated excise tax for diesel products. The DoE previously said that oil companies should have a buffer covering 15 days of stocks before the new levies should be imposed. The new taxes took effect at the start of the year. — Victor V. Saulon

Jumanji gives Sony longest box-office win streak since 2001

THREE new wide releases battled three likely Oscar contenders for North American moviegoers’ attention this weekend, only for all six to lose to Sony Corp.’s Jumanji: Welcome to the Jungle.

The reboot of the 1995 Robin Williams film brought in $20 million in US and Canadian theaters to top the box office for the third straight week, researcher ComScore, Inc. estimated Sunday in an e-mail.

Three new wide releases — Den of Thieves, 12 Strong, and Forever My Girl — vied against three awards-targeting movies that were expanding into more theaters this weekend: Call Me by Your Name, I, Tonya, and Phantom Thread.

The new Jumanji, which stars Dwayne “The Rock” Johnson, is giving Sony its longest winning streak for a single film since Black Hawk Down, released in late 2001. The company could also be in contention for an Oscar with coming-of-age tale Call Me By Your Name.

Warner Bros.’ 12 Strong, featuring Chris Hemsworth and Michael Shannon, tells the tale of special forces soldiers deployed to Afghanistan in the wake of the Sept. 11 terrorist attacks. It placed second with $16.5 million, handily beating a forecast of $12 million, according to analysts at BoxOfficePro. It split critics with 54% positive reviews, according to aggregator RottenTomatoes.com.

Den of Thieves, from STX Entertainment, is an R-rated crime drama featuring rapper 50 Cent and Gerard Butler, about an elite unit of the Los Angeles County Sheriff’s Department that faces off against the state’s most successful bank-robbery crew. It collected $15.3 million and landed in third place, compared with Box Office Mojo’s prediction for a $6-million debut. Critics gave only 33% positive reviews.

Forever My Girl, via Roadside Attractions, was panned by critics, securing only 19% positive reviews. Based on a novel by Heidi McLaughlin about a country music star who comes home to his childhood sweetheart, it came in 10th place with $4.7 million. — Bloomberg

Tom Petty died due to accidental drug overdose says LA coroner

LOS ANGELES — Rocker Tom Petty died in October due to “multisystem organ failure” brought on by an accidental overdose of seven medications, the Los Angeles County Medical Examiner’s office said on Friday.

The coroner’s office attributed Petty’s death at the age of 66 to a “mixed toxicity” of fentanyl, oxycodone, generic Restoril, generic Xanax, generic Celexa, acetyl fentanyl, and despropionyl fentanyl.

The medical examiner’s report lists the manner of death as “accidental.”

Petty, whose ringing guitar riffs, distinctive vocals and well-wrought everyman lyrics graced such hits as “Refugee,” “Free Fallin’,” and “American Girl,” was found unconscious at his home in Malibu on Oct. 2 and died at a hospital later that night.

He had been engaged on a 40th anniversary tour of the United States with his band the Heartbreakers at the time and had just played three dates at the Hollywood Bowl in Los Angeles.

“We knew before the report was shared with us that he was prescribed various pain medications for a multitude of issues including fentanyl patches and we feel confident that this was, as the coroner found, an unfortunate accident,” Petty’s wife, Dana and daughter, Adria, said in a Facebook post.

Dana and Adria Petty said that the veteran musician was suffering from emphysema, knee problems, and most significantly a fractured hip that he was treating with medication so that he could continue touring.

“On the day he died he was informed his hip had graduated to a full on break and it is our feeling that the pain was simply unbearable and was the cause for his over use of medication,” Dana and Adria Petty said.

A 2015 biography of Petty revealed for the first time that he was addicted to heroin in the 1990s.

Petty, who was born in Florida in 1950 and was best known for his roots-infused rock music, carved a career as a solo artist as well as with his band the Heartbreakers and as part of supergroup the Traveling Wilburys.

He and the band were inducted into the Rock and Roll Hall of Fame in 2002, when they were described by organizers as “the quintessential American individualists,” capturing the voice of the American everyman.

The man considered by many to be rock music’s greatest songwriter, Bob Dylan, called Petty’s death “shocking, crushing news” in a statement to Rolling Stone magazine at the time. — Reuters

Washington forcing Beijing to accelerate South China Sea deployments, says China’s top paper

BEIJING — China’s top newspaper, decrying Washington as a troublemaker, said on Monday US moves in the South China Sea like last week’s freedom of navigation operation will only cause China to strengthen its deployments in the disputed waterway.

China’s foreign ministry said the USS Hopper, a destroyer, came within 12 nautical miles of Huangyan island, which is better known as the Scarborough Shoal and is subject to a rival claim by the Philippines, a historic ally of the United States.

It was the latest US naval operation challenging extensive Chinese claims in the South China Sea and came even as President Donald J. Trump’s administration seeks Chinese cooperation in dealing with North Korea’s missile and nuclear programs.

The ruling Communist Party’s official People’s Daily said in a commentary that, with the situation generally improving in the South China Sea, it was clear that the United States was the one militarizing the region.

“Against this backdrop of peace and cooperation, a US ship wantonly provoking trouble is singleminded to the point of recklessness,” the paper said.

“If the relevant party once more makes trouble out of nothing and causes tensions, then it will only cause China to reach this conclusion: in order to earnestly protect peace in the South China Sea, China must strengthen and speed up the building of its abilities there,” it said.

The commentary was published under the pen name “Zhong Sheng,” meaning “Voice of China,” which is often used to give the paper’s view on foreign policy issues.

The widely read Global Times tabloid, published by the People’s Daily, said in an editorial on Monday China’s control of the South China Sea is only growing and it is well placed to react to US “provocations.”

“As China’s military size and quality improve, so does its control of the South China Sea,” it said. “China is able to send more naval vessels as a response and can take steps like militarizing islands.”

The Scarborough Shoal is located within the Philippines’ 200 nautical mile Exclusive Economic Zone but an international tribunal in 2016 ruled that it is a traditional fishing ground that no one country has sole rights to exploit.

The US military says it carries out “freedom of navigation” operations throughout the world, including in areas claimed by allies, and that they are separate from political considerations.

The Pentagon has not commented directly on the latest patrol but said such operations are routine. — Reuters