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Comedians support CBS Late Show host Colbert; Jon Stewart rips Paramount

Stephen Colbert in The Late Show with Stephen Colbert (2015) — IMDB
Stephen Colbert in The Late Show with Stephen Colbert (2015) — IMDB

LOS ANGELES — Late-night rivals and other celebrities rallied to support CBS Late Show host Stephen Colbert after the network canceled his show, and comedian Jon Stewart lashed out at Paramount Global for the decision to end the long-running TV program.

On The Late Show with Stephen Colbert on Monday, several comedians and talk-show hosts appeared in a sketch that also featured an animated Donald J. Trump hugging the Paramount logo. The bit spoofed the viral moment in which a tech chief executive officer was caught on camera embracing his company’s chief people officer during a Coldplay concert.

The Tonight Show host Jimmy Fallon and NBC colleague and Late Night host Seth Meyers were spotted sharing beers together in the audience. HBO’s Last Week Tonight host John Oliver was seated with Mr. Stewart, both former colleagues of Mr. Colbert’s on The Daily Show.

Mr. Colbert joked about his show’s demise in his opening remarks, quipping that “cancel culture has gone too far.” He suggested the show’s venue, The Ed Sullivan Theater in Manhattan, might be converted to “self-storage” after the show ends.

CBS executives said last week they would end The Late Show in May 2026 in what they called “purely a financial decision.”

US lawmakers and others have called the timing suspicious, noting that Paramount is seeking government approval for an $8-billion merger. Mr. Colbert is a frequent critic of President Trump and had called the payment of $16 million to Mr. Trump’s presidential library a bribe.

Mr. Stewart addressed the cancellation on Monday’s episode of The Daily Show, which runs on Paramount-owned Comedy Central.

“If you’re trying to figure out why Stephen’s show is ending, I don’t think the answer can be found in some smoking gun e-mail or phone call from Mr. Trump to CBS executives or in CBS QuickBooks spreadsheets on the financial health of late night,” Mr. Stewart said.

“I think the answer is in the fear and pre-compliance that is gripping all of America’s institutions at this very moment, institutions that have chosen not to fight the vengeful and vindictive actions of our… commander-in-chief.”

Paramount representatives did not immediately respond to a request for comment.

Mr. Trump, in a post on Truth Social last Friday, applauded the cancellation, writing, “I absolutely love that Colbert got fired.”

Mr. Colbert responded Monday night with what he called a “satirical witticism” that included a vulgarity. — Reuters

Peso rebounds to P56 level as Philippines finalizes trade deal with US

BW FILE PHOTO

THE PESO rebounded to the P56-per-dollar level on Wednesday after the Philippines secured a slightly lower “reciprocal” tariff rate from the United States.

The local unit closed at P56.881 per dollar, strengthening by 16.9 centavos from its P57.05 finish on Tuesday, Bankers Association of the Philippines data showed.

This was the peso’s best close in over a week or since it ended at P56.73 on July 15, which was also the last time it finished at the P56 mark.

The peso opened Wednesday’s session sharply stronger at P56.85 against the dollar, which was also its intraday best. Its worst showing was at just P56.98 against the greenback.

Dollars exchanged climbed to $1.51 billion on Wednesday from $1.29 billion on Tuesday.

“The peso continued to appreciate after the Philippines secured a trade deal with the US overnight,” the first trader said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the reduced tariff rate on Philippine exports to the US to 19% from 20% boosted investor sentiment “on hopes that the worst for the US tariffs could have already been seen for the Philippines.”

The new tariff rate — which was still higher than the 17% announced by US President Donald J. Trump in April — came at the close of President Ferdinand R. Marcos, Jr.’s three-day state visit to Washington.

The local unit also gained amid the dollar’s decline against Asian currencies and lower US Treasury yields after more countries in the region finalized deals with the Trump administration, the second trader said in a text message.

For Wednesday, the first trader said the peso could depreciate anew against the dollar on expectations that the European Central Bank will hold its key interest rates, which could provide support for the greenback.

The first trader and Mr. Ricafort see the peso moving between P56.75 and P57 versus the dollar on Thursday, while the second trader expects it to range from P56.80 to P57.20. — A.M.C. Sy

Filinvest Land to dissolve dormitel subsidiary

FILINVEST.COM

GOTIANUN-LED property developer Filinvest Land, Inc. (FLI) is dissolving its dormitels subsidiary, Co-Living Pro Managers Corp. (CPMC).

FLI filed an application with the Securities and Exchange Commission (SEC) on Wednesday to shorten the corporate term of CPMC, the property developer said in a regulatory filing.

“The dissolution of CPMC will not have any material impact on FLI,” the company said.

Incorporated in August 2021, CPMC has business interests in developing, operating, managing, and maintaining dormitels, as well as lots and buildings — whether owned or leased — for use as dormitels.

CPMC started commercial operations in November 2023.

Dormitels are dormitories with hotel-like accommodations that provide an alternative to traditional residential offerings.

FLI shares were unchanged at 83 centavos apiece on Wednesday. — Revin Mikhael D. Ochave

Supporting cast

STOCK PHOTO | Image by Pressfoto from Freepik

IN PHOTOS of high-profile events like the inauguration of a bridge or the launch of a digital product, there are often, at the edges, unfamiliar faces around the identified VIPs. These unknowns in the crowd are either cropped or simply identified as guests. This generic tag may refer to the event organizer’s assistant who was pulled in for the photo, or even a passing waiter. (Can I just put down my tray?)

Those surrounding VIPs wherever they go are not always well-known characters. They include stalkers with their own agendas to promote to the unwary center of attention.

Anonymous staffers who work behind the scenes around a well-known CEO are always part of the crowd. Can any organization survive without a supporting cast?

In movies, extras are necessary for those battle scenes or protest rallies. The lead stars at the center are surrounded by mobs that swell the crowd. These anonymous bodies and faces can now be replaced by computer-generated images to fill up seats in an amphitheater for a gladiatorial scene or be part of an invading horde charging up the beach.

Even among supporting cast members, there’s a hierarchy of importance in terms of screen time. In romantic comedies, supporting characters are necessary appendages, either funny or scolding, often the one who settles for the older sister of the main star. This role can also be a buddy who’s between jobs and just hanging out with the lead star. He can be the straight man to allow the lead to deliver the punch line of a joke.

It is no longer obligatory in Filipino movies, even in the now trendy action movie or romantic comedy, to use sidekicks. These perpetual supporting roles, assigned to a set of wannabes always available for a director’s call, can be dispensed with. In theater, the two-person cast is becoming more acceptable. (Even physical props can be dispensed with.)

In sports like basketball, the players on the floor at the opening buzzer are called the “starting five.” The others in the team, also in uniform and sitting down waiting for their minutes on the court, are called the “bench,” no longer the pejorative term of “benchwarmer.”

Sports analysts now devote some attention to the productivity of the bench. There is a growing preference for winning coaches in the NBA to have a deeper rotation of 10 players, giving more rest to the starters. This allows the bench to get more minutes. Also, when the game is written off as already lost or won with a big lead in the last few minutes, the bench can be emptied.

While supporting roles are recognized by award-giving bodies, they only go one level down so that one movie can only have a maximum of two supporting stars for nomination. Sometimes, the distinction can be hazy when there is more than one lead character of the same sex, so that a star can opt to compete for either best actor or best supporting actor, depending on the role’s prominence in the film.

Companies have their own supporting cast.

“Staff and support” functions usually get less attention and bonuses than those who can point to measurable revenue streams. While marketing and sales have easily quantifiable goals which they can surpass, the same is not true for such functions as IT, Finance, or HR, even if these functions enable sales and marketing to meet or exceed their deliverable targets. These functions also provide excuses for the line groups — HR hasn’t given us our needed manpower.

Only when a company implodes with declining market share versus the competition do the support heads (who are the most virulent critics of the line people’s excesses) get a shot at the top. Aren’t consultants brought in for the firefighting also classifiable as support staff? (We told you so.)

The supporting cast is easily overlooked. Those associated with staff functions (now called enablers) provide advice and menial services to strong leaders taking over a company or country.

Occasionally, the anonymity of the supporters and minions in the background can acquire a sudden burst of fame when they turn against their high-profile bosses as whistleblowers. After all, they can point to where the bodies are buried… or dumped.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

How PSEi member stocks performed — July 23, 2025

Here’s a quick glance at how PSEi stocks fared on Wednesday, July 23, 2025.


Philippines lands 22nd in 40-country Health Inclusivity Index

The Philippines ranked 22nd out of 40 countries, scoring 62.8 out of 100, in the 2025 Health Inclusivity Index by Economist Impact and Haleon. The index measures equitable healthcare access across societal health, inclusive systems, and community empowerment.

Philippines lands 22nd in 40-country Health Inclusivity Index

Cebu BRT partial launch targeted for September

PHILSTAR FILE PHOTO

THE Department of Transportation (DoTr) said the Cebu Bus Rapid Transit (BRT) system is expected to operate partially by September, with the capacity to serve about 70,000 commuters.

At least three stations of the transit system will be operational by September, Transportation Secretary Vivencio B. Dizon said in a statement on Wednesday.

The three stops are Fuente, Cebu Normal University, and Cebu South Bus Terminal stations, the DoTr said.

It said expedited construction of the mass transit system is underway.

The DoTr said the construction of Cebu Capital station will also begin after partial operations start, adding that its detailed engineering design has been finalized.

The remaining phases of the Cebu BRT, designated 2A and 3A, cover 13 stations and 62 stops. These are due for completion by the end of 2028.

The government broke ground on the first package of the project in 2023. It was initially scheduled for full operations this year but was pushed back to 2028.

Once completed, the Cebu BRT system is expected to serve up to 169,000 passengers per day.

According to the World Bank’s implementation status and research report, the pace of Cebu BRT construction has slowed down, and major civil works packages are yet to be launched.

“Considering the age of the project, it may be more appropriate to restructure the project to address the activities that can be completed within the closing date,” it said. — Ashley Erika O. Jose

GSIS keen to prove ‘integrity’ of investment decision-making

The Government Service Insurance System headquarters in Pasay, Philippines. May 28, 2012. — BW FILE PHOTO

THE Government Service Insurance System (GSIS) hopes to demonstrate the soundness of its investment process in the course of an investigation into its purchase of a stake in Alternergy Holdings Corp., its suspended president said.

“We acknowledge the Office of the Ombudsman’s inquiry into GSIS’s Alternergy investment and are cooperating fully with the investigation. We welcome this opportunity to affirm the integrity of GSIS’s investment decisions and will provide further updates once the process concludes,” according to suspended GSIS President and General Manager Jose Arnulfo A. Veloso.

The Department of Finance has also signaled plans to launch its own investigation into GSIS.

Along with six other officials, Mr. Veloso was placed under preventive suspension without pay for six months by the Office of the Ombudsman in connection with the pension fund’s purchase of preferred Alternergy shares via private placement for P1.45 billion.

Mr. Veloso has said that he is waiting for the Ombudsman to acknowledge the counter-affidavit he has filed.

The Ombudsman said its preliminary findings indicate that the shares, acquired on Nov. 7, 2023, were purchased without the approval of the GSIS board of trustees, or the endorsement of the assets and liabilities and risk oversight committees.

The investigation also found that the perpetual preferred shares were not listed with the Philippine Stock Exchange at the date of the transaction.

Other suspended officials were GSIS Executive Vice-Presidents Michael M. Praxedes and Jason C. Teng, Vice-Presidents Aaron Samuel Chan and Mary Abigail V. Cruz-Francisco, Officer II Jaime Leon K. Warren, and Acting Office IV Alfredo Pablo.

The pension fund on Tuesday appointed Executive Vice-President for Support Services Juliet M. Bautista as its officer in charge. — Aaron Michael C. Sy

Gov’t urged to focus reform effort on power, foreign investor lease laws

A VIEW of residential condominium buildings in Mandaluyong, Metro Manila, Aug. 22, 2016 — REUTERS

BUSINESS GROUPS, including the Joint Foreign Chambers of the Philippines said they support a reform agenda led by amendments to the Electric Power Industry Regulation Act and Foreign Investors’ Long Term Lease Act.

In a statement, the groups said such reforms will accelerate growth and significantly enhance the investment climate.

“While both domestic and global challenges persist, the Philippine economy has continued to demonstrate its underlying strengths and growth capabilities, and we see clear opportunities for sustained economic expansion,” they said in a joint statement. “To harness this potential, bold and decisive policy action is required.”

They also recommended that the government pass reform measures like the Cybersecurity Act, E-Governance Act, Digital Economy Act, Konektadong Pinoy Act, Freedom of Access to Information Act, the National Single Window System, and National Land Use Act.

They also sought priority action on the Artificial Intelligence Act, Blue Economy Act, and Holiday Rationalization Act, as well as amendments to the charters of the Civil Aviation Authority and the Philippine Ports Authority.

They also recommended executive measures that “significantly bolster investor confidence.”

“These include improving the implementation of the Ease of Doing Business Act and Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act and streamlining travel requirements for foreign tourists,” they said.

They also asked for the review and suspension of taxes on non-resident foreign corporations, as well as the review of the Food and Drug Administration’s revised registration fees and the Extended Producers’ Responsibility Act.

“These measures form a unified reform agenda that reflects the business community’s commitment to supporting national development,” they said.

“Collectively, these measures will help attract quality investments, generate meaningful employment, and strengthen the country’s economic foundation for long-term, inclusive growth,” they added.

These recommendations were sent to President Ferdinand R. Marcos, Jr. ahead of his fourth State of the Nation Address.

Among the signatories of the statement were the American Chamber of Commerce of the Philippines, the Canadian Chamber of Commerce of the Philippines, the European Chamber of Commerce of the Philippines, the Japanese Chamber of Commerce and Industry of the Philippines, Inc., and the Korean Chamber of Commerce of the Philippines, Inc.

Other signatories are the Association of International Shipping Lines, Inc., the Confederation of Wearable Exporters of the Philippines, the Financial Executives Institute of the Philippines, the Management Association of the Philippines, the Philippine Association of Multinational Companies Regional Headquarters, Inc., and the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. — Justine Irish D. Tabile

US healthcare group pledges $500-M hospital investment

US HEALTHCARE GROUP Bon Secours Mercy Health (BSMH) has committed to invest up to $500 million to develop a hospital in the Philippines, a presidential adviser said.

“This is a strong vote of confidence in the Philippines and a transformative opportunity for our healthcare and services sectors. We will work closely with BSMH to help turn their plans into reality,” according to Secretary Frederick D. Go, who heads the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

In a statement issued on Wednesday, Mr. Go said the proposed investment “will generate meaningful jobs and help deliver world-class facilities, advanced medical equipment, and high-quality healthcare.

OSAPIEA said that BSMH is also planning to expand its Global Business Services operation in the Philippines.

“From a current team of about 170, BSMH shared plans to expand its GBS operations in Manila to approximately 1,200 professionals, creating more high-quality jobs,” OSAPIEA said.

“This center will operate alongside BSMH’s US-based teams to enhance the organization’s non-patient-facing capabilities and deliver upon its mission,” it added.

Cincinnati-based BSMH runs a 50-hospital US network. Affiliated with the Catholic church, its precursor organizations date back 150 years. BSMH itself was formed in a 2018 merger.

“As a $13-billion integrated Catholic health delivery system based in the US, we’re proud to expand our global reach and deepen our existing commitment in the Philippines,” Bon Secours Mercy Health President and Chief Executive Officer John M. Starcher, Jr. said.

“After meeting with President Marcos, Jr., we are excited to begin the aggressive exploration of developing state-of-the-art healthcare delivery services,” he added. — Justine Irish D. Tabile

E-gambling ban could drive industry underground — study

PHILIPPINE STAR/EDD GUMBAN

A BAN on online gambling could lead to illicit activity moving underground, out of sight of regulators, research firm The Fourth Wall reported, citing the results of a study.

The study found that 53% of respondents oppose such a ban, with 75% saying it would not deter unhealthy behavior, leading gamblers to turn to unregistered sites.

“There is an understanding among them that an outright ban won’t stop online gambling, but instead push it underground, increasing risks like scams and addiction through unregulated channels,” John Brylle L. Bae, research director at The Fourth Wall, said in a statement.

“This suggests their call for regulation is rooted in safer options and better consumer protection.”

Stricter regulation was supported by 18% of respondents, who cited age restrictions, including protections for seniors, facial recognition and real-time ID checks.

The Fourth Wall also noted the prevalence of scams linked to online gambling on social media platforms.

“Support for banning unregulated platforms stems from concerns about addiction — particularly among youth and low-income groups — and the wider impact on mental health, families, and finances,” The Fourth Wall said, after finding that the typical online gambler in the Philippines is a low-income, low-stakes casual player.

It profiled such gamblers as staking P5,000 a month, playing a few times a week and breaking even on most occasions.

It also found high levels of trust in digital wallets, with 73% citing the wallets’ robust age and identity verification processes, and 64% saying such platforms help them manage their spending effectively.

GCash (92%) emerged as the most-used e-wallet app, cited by 92% of respondents, followed by Maya (6%). Only 2% use over-the-counter payment outlets.

Most of respondents said they have gambled on cockfights or bet on social media, while only 7% have gambled in physical casinos.

The Fourth Wall noted that resistance to a ban was pronounced among cockfighting bettors, pointing to a “desire for continuity over restriction.”

Earlier this month, President Ferdinand R. Marcos, Jr. said he is open to imposing a tax on e-gambling and reviewing bills and other policies to regulate the practice as long as they are backed by research.

This comes after the central bank, the Department of Finance and legislators lobbied measures back-to-back amid the growing scrutiny on the country’s e-gambling industry.

The study found that 61% consider the Philippine Amusement and Gaming Corp. (PAGCOR) to be performing its duties, though 34% said they lack full understanding of PAGCOR’s mandate.

“This finding points to a need not only for regulation, but for clearer public education and transparent communication from regulators,” The Fourth Wall said.

The study collected input from 1,250 current online gamblers between July 17 to 18 in and around Metro Manila, Metro Cebu, Metro Davao, and other major cities. — Katherine K. Chan

Farm damage tally rises to P323.15 million

PHILIPPINE STAR/CESAR RAMIREZ

DAMAGE to agriculture caused by Tropical Storm Wipha (Philippine designation: Crising) and the southwest monsoon hit P323.15 million, according to the Department of Agriculture (DA).

Rice accounted for 66% of the damage, coming in at P212.60 million, across 14,842 hectares of cropland. Lost production was estimated at 6,703 metric tons, DA spokesman Arnel V. de Mesa said at a briefing.

High-value crops accounted for 26% of the damage, and corn 6.85%, he added.

The DA Disaster Risk Reduction and Management Operations Center said in a separate statement that livestock and poultry accounted for 1.66%, and fisheries 0.01% of the losses.

Mimaropa incurred the most damage at P121 million, of which P65 million was recorded in Occidental Mindoro and P56 million in Palawan, Mr. De Mesa said.

He said Cotabato sustained P58 million in agriculture damage.

In Central Luzon, Tarlac and Nueva Ecija posted P13.6 million and P11.4 million in agricultural losses, respectively.

The government weather service, known as PAGASA, said on Wednesday that it is monitoring two tropical storms that are likely to enhance the southwest monsoon. — Kyle Aristophere T. Atienza