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Michael J. Fox appeals for help finding lost Back to the Future guitar

Michael J. Fox playing the guitar in a scene from the 1985 film Back to the Future. — IMDB

LOS ANGELES — Michael J. Fox and other stars of classic film Back to the Future appealed for the public’s help on Tuesday in locating the red Gibson guitar featured in a memorable scene.

Marty McFly, the time-traveling teen portrayed by Mr. Fox in the 1985 film, stunned students at a 1950s high school dance with wild electric guitar riffs played on a Gibson ES-345 Cherry Red guitar in the movie.

The guitar went missing after production wrapped.

“It’s somewhere lost in the space-time continuum, or it’s in some Teamster’s garage,” Mr. Fox joked in a video released by Gibson.

Co-stars Lea Thompson, Christopher Lloyd, and Harry Waters, Jr. also urged the public to join the search, as did singer Huey Lewis, whose song “The Power of Love” was featured in the movie.

Gibson is filming a documentary called Lost to the Future about the search for the guitar. It also plans to re-issue the ES-345 Cherry Red in October.

People can submit tips about the guitar’s whereabout via www.losttothefuture.com or via a phone number provided on the site. — Reuters

Fed officials beat policy patience drum as tariff questions persist

Flags fly over the US Federal Reserve building in Washington, US, May 26, 2017. — REUTERS

NEW YORK — US Federal Reserve officials on Tuesday argued again for caution on monetary policy as President Donald J. Trump’s trade war continues to inject substantial amounts of uncertainty and the risk of economic weakness into the outlook.

“I continue to believe the best approach for monetary policy is patience,” Atlanta Fed President Raphael Bostic said in an essay released by his regional Fed bank. In a “broadly healthy” economy “we have space to wait and see how the heightened uncertainty affects employment and prices … I am in no hurry to adjust our policy stance,” he said.

Speaking separately at an event in New York, Fed Governor Lisa Cook said US monetary policy is in a good place to respond to different economic scenarios.

The US economy is in a “solid position” amid heightened uncertainty, Ms. Cook told a gathering at the Council on Foreign Relations.

“There is evidence that changes to trade policy are starting to affect the economy” and “I anticipate a slowdown in the expansion of economic activity from last year’s pace,” Ms. Cook said. She tied trade policy to drops in manufacturing output and some types of orders for big-ticket factory goods, as well as a pullback in investment as firms navigate the uncertainty.

Ms. Cook said “the current stance of monetary policy is well positioned to respond to a range of potential developments” in terms of interest rates. She added that all options are on the table for the Fed if needed and that “we have to be open to all possibilities” such as cutting, holding or raising rates.

“We don’t know how tariffs are going to play out, so all of those (rate policy) scenarios could be possible,” Ms. Cook said.

Speaking to reporters in a conference call, Bostic said the one rate cut he penciled in for 2025 as part of the quarterly forecasts released by the Fed in March could happen. “I still think there’s space for that, and a lot of it will depend on how the uncertainty resolves itself,” he said.

But Bostic also noted inflation is still above the Fed’s 2% target and underlying prices are higher than he’d like, adding that even if tariffs weren’t roiling the outlook, it would be a “tough call” to say that rate cuts are warranted right now.

PERSISTENT OR PASSED THROUGH?
The Fed is expected to hold its benchmark interest rate steady in the 4.25%-4.5% range at its next policy meeting on June 17-18. Many economists as well as Fed officials believe inflation and unemployment are likely to rise and growth to slow due to Mr. Trump’s import tax agenda.

The big debate among central bankers is whether tariffs will drive a one-time price increase or create the grounds for something more persistent. Officials like Fed Governor Christopher Waller, who spoke on Sunday, lean toward expecting a one-time hit the US central bank can likely look through, while arguing it remains possible it can be cutting rates before the end of the year.

Other Fed officials, however, are more unsure how it will play out. Ms. Cook noted on Tuesday that the high inflation landscape of the COVID-19 pandemic may embolden some businesses to raise prices now. She, like other Fed policymakers, said it’s critical to keep the public from expecting higher inflation over the longer run.

Chicago Fed President Austan Goolsbee, speaking at an event held by the Corridor Business Journal in Cedar Rapids, Iowa, said on Tuesday that with businesses signaling plans to pass along tariff increases to consumers, higher prices could show up in inflation data in a month, or “certainly within a couple of months if it’s going to affect prices in a significant way.”

Earlier on Tuesday, the US Labor department released its Job Openings and Labor Turnover Survey, or JOLTS report, which showed a rise in both job openings and layoffs in April. Economists, however, did not signal concern as they await the release on Friday of the monthly US employment report for May.

Carl Weinberg, chief economist at High Frequency Economics, said “we will call this (JOLTS) report another indication of stasis in US companies in the face of tariff uncertainty.” He added that “we suspect companies are still hoarding workers until they are very, very sure about an economic downturn.” — Reuters

Good economic news isn’t what it used to be

STOCK PHOTO | Image from Freepik

By Daniel Moss

CHRISTOPHER WALLER, a respected governor of the Federal Reserve, brought what would normally pass for glad tidings to an influential Asian audience this week. Whether people were in the mood to receive positive messages was another thing entirely.

It’s not clear anymore what favorable developments look like. Inflation is receding and, with a bit of luck, the Fed should be able to cut its main interest rate a few times this year, Waller told the conference organized by the Bank of Korea. What about President Donald Trump’s tariffs? He’ll try to look through any short-term price spikes that flow from the levies. Assuming employment holds up, rate reductions would be “good news,” Waller added. A poor outcome, presumably, would be one where easing is required to counter tanking growth. On Friday, figures showed the Fed’s preferred gauge of inflation was a whisker above the central bank’s 2% target.

Don’t expect the Fed to be exultant, but that’s a pretty solid performance compared with some parts of Asia. In China, deflation is the chief domestic danger. The latest Bloomberg poll of analysts forecasts that consumer prices will increase by just 0.3% this year after a soft 2024. As much as the Fed fumbled the post-pandemic surge, things are much better now. The People’s Bank of China might privately wish to have America’s problems. Trump’s broadsides tend to obscure President Xi Jinping’s home-grown difficulties.

Waller was in one sense sticking to the script: The Fed began the year tipping a couple of reductions. That was before the tariffs, and threats against Chair Jerome Powell from the White House, threw doubt on the timing and magnitude of the next move. Some economists envisage a scenario where there are no cuts, and a more extreme version entertains the idea of hikes. So it’s a relief to hear someone of Waller’s stature continue to keep cuts in play. That his remarks were noteworthy — and failed to move markets much — tells us how distorted our sense of good and bad news has become.

The question now appears to be: How less bad are things? When the US and China agreed to a 90-day truce in the trade tussle last month, duties were pared from astronomical levels. Markets surged and there were hopes for an accord with staying power. That’s understandable, but what got lost in the initial euphoria was that the pause still left levies much higher than before Trump was sworn in on Jan. 20. Tariffs on most Chinese imports would be reduced to 30% for a time to allow for talks. China’s penalties on US products would slip to 10%. With Beijing and Washington now charging that each side violated the peace, prospects for a meaningful deal have dimmed.

It’s hard to find much positive in the trade war. The reprieve can best be described as a least-worse outcome — while it sticks. The clouds over the global economy are no less real. For the US, chances of a recession remain uncomfortably high. Gross domestic product in China will probably increase 4.5% this year, based on the Bloomberg survey. While that might seem not so bad in the event exporters aren’t able to access the American market, it would be down from 5%, which was a stretch. A private survey released on Tuesday showed manufacturing slumped in May.

Consequently, things are dour all around. The International Monetary Fund recently made sharp reductions in its forecasts, predicting the global expansion would slow to 2.8% this year, down from a January estimate of 3.3%. While not catastrophic, that would be one of the most disappointing performances since 2009, when output recorded a rare decline, thanks to the subprime meltdown.

Waller’s hosts are experiencing difficult times. Confidence in Korea was already shaken by a former president’s failed attempt to impose martial law; voters elected a new leader on Tuesday. Tariffs have put Seoul in an even less desirable place. The Bank of Korea (BoK) has been cutting rates and marking down its assessment of the economy’s performance. GDP contracted in the first quarter compared with the prior three months, when it notched a mere 0.1% expansion. Industrial production unexpectedly fell in April. As a key exporter and vital link in technology supply chains, Korea is a kind of live experiment in the trade conflict. “Many businessmen here also say 10% is manageable,” BoK Governor Rhee Chang-yong said, while flagging the importance of Trump’s non-reciprocal levies. If you ran the prospect of a 10% tariff past executives a few years ago, they would have been aghast.

In a global economy that’s at the whim of great-power politics, there’s always a new benchmark. We will learn to adapt, but not pop the champagne.

BLOOMBERG OPINION

SB Finance taps PLDT Enterprise for core network build

BW FILE PHOTO

FINANCIAL SERVICES COMPANY SB Finance, Inc. has tapped PLDT Inc.’s unit PLDT Enterprise to build an independent core network that will provide a secure infrastructure for seamless financial services, the Pangilinan-led company said on Wednesday.

“We are proud to support SB Finance in building a solid and future-ready digital infrastructure from the ground up,” PLDT First Vice-President and Head of Enterprise Product Management and Global Capacity Benedict Patrick V. Alcoseba said in a media release.

PLDT Enterprise, the business-to-business arm of the listed telecommunications company, will equip SB Finance with a comprehensive suite of solutions, including managed network services, metro ethernet connectivity, and cloud telephony.

“These technologies play a pivotal role in enhancing customer interactions, streamlining operations, and strengthening data security — all while enabling SB Finance to expand seamlessly across the country,” PLDT said.

The partnership highlights the crucial role of digital innovation in financial services. PLDT added that high-speed connectivity and cloud-based solutions will position SB Finance to deliver secure financial services.

Meanwhile, in a separate media release on Wednesday, PLDT, through its wireless unit Smart Communications, Inc., said it is expanding its long-term evolution (LTE) coverage.

The company said it is reinforcing its network in Batanes as part of its commitment to provide reliable mobile services in remote areas.

At the stock exchange on Wednesday, PLDT shares closed P4, or 0.32%, higher at P1,246 apiece.

Hastings Holdings Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings Inc., holds a majority stake in BusinessWorld through the Philippine Star Group. — Ashley Erika O. Jose

Anker launches new laptop powerbank, earbuds with AI translation

ANKER INNOVATIONS recently launched in the Philippines its latest laptop powerbank and multi-port chargers, as well as earphones with a built-in artificial intelligence (AI) translation feature.

The Anker Laptop Powerbank is priced at P4,995 and has a 25,000 milliampere-hour (mAh) battery capacity as well as built-in and retractable cables, namely a 15-centimeter (cm) integrated USB-C cable and a 70-cm long retractable cable.

It can charge up to four devices at once and has 165 watts (W) of total output.

“It’s also the ultimate travel companion, compliant with CAAP (Civil Aviation Authority of the Philippines) Guidelines for Air Travel (based on CAAP Memo FOD-APD-2023-008), making it safe to bring on board,” the brand said.

“For added convenience, the powerbank also has a smart screen that displays real-time power status, battery life, and temperature, ensuring safe and efficient charging.”

Meanwhile, Anker has also released its 200W (P4,995) and 250W (P10,495) Prime Chargers. Both have six ports and are equipped with GaNPrime charging technology and can be used even on the go.

“It delivers faster and smarter charging for all your devices, even when they are all connected together. It’s also equipped with a smart control dial to instantly adjust the power output to ensure each device charges at the optimal speed, while its activeShield technology optimizes this and prevents overheating to protect the devices,” it said.

Lastly, Anker’s new Soundcore AeroFit 2 open-ear earbuds are priced at P5,895.

The earbuds have an AI translation function that supports languages like English, Mandarin, French, Spanish, Japanese, and Korean, among others. The feature can be accessed via the soundcore mobile app, where users can select between two translation modes.

“The Face-to-Face Translation feature is your go-to mode for everyday conversations. It’s like having a personal interpreter in your ear, making it perfect for when you’re traveling or find yourself in new social situations with people who don’t speak the same language,” Anker said.

The feature works by capturing the user’s voice via the AeroFit 2 earbuds, which will be translated and played through the connected phone.

“When the other person replies, their voice is picked up by your phone’s microphone, translated, and delivered to your earbuds,” it said.

Meanwhile, the Real-Time Translation mode can be used for lectures or webinars, or when watching foreign-language shows.

“The speaker’s voice from wherever you may be streaming is received by your phone, translated, and delivered straight to your AeroFit 2 earbuds. You can also follow along by reading the translated transcript on your screen. This is a game-changer for students or professionals who may find themselves in a situation where understanding spoken content is critical without active participation,” Anker said.

The AeroFit 2 features a rotatable ear hook design, allowing it to adapt to different ear sizes.

It also has improved sound quality and touch-style controls and supports wireless charging for up to 10 hours of playtime, while its charging case can extend its use time to up to 42 hours. — BVR

Harvey Weinstein used Hollywood clout to abuse women, prosecutor tells jury

HARVEY WEINSTEIN departs New York Criminal Court following another day of jury deliberations in his sexual assault trial in the Manhattan borough of New York City, New York, US, Feb. 21, 2020. — REUTERS

NEW YORK — A prosecutor urged a Manhattan jury on Tuesday to convict Harvey Weinstein of rape and sexual assault in his retrial, saying the evidence showed the former movie mogul used his power and influence to trap and abuse women.

Lawyers for the prosecution and defense delivered closing statements, with jury deliberations to follow. Mr. Weinstein’s lawyer accused the three alleged victims of lying on the witness stand out of spite after consensual sexual encounters with the Miramax studio co-founder failed to deliver them Hollywood stardom.

Prosecutor Nicole Blumberg called Mr. Weinstein a serial predator who promised career advancement in Hollywood to women, only to then coax them into private settings where he attacked them. Mr. Weinstein, who has denied ever having non-consensual sex with anyone, has pleaded not guilty.

“The defendant used his power and influence to create many, many award-winning movies,” Ms. Blumberg said. “But he also used that same power, that same influence, to isolate women, trap women in places where he’d be alone with them and abuse them.”

Mr. Weinstein, 73, is on trial in Manhattan for a second time after a New York state appeals court threw out his conviction in April 2024. Experiencing a litany of health problems, Mr. Weinstein was present in court in a wheelchair, wearing a dark suit and tie.

He is accused of raping aspiring actress Jessica Mann in 2013 and assaulting the two other women in 2006 and 2002. The trial began in April.

Defense attorney Arthur Aidala walked the 12 jurors through what he said were inconsistencies in the women’s testimony and e-mail evidence he asserted undercut their claims that Mr. Weinstein had assaulted them.

“They are lying about what happened. Not about everything, but about a small slice — just enough to turn their regret, their buyers’ remorse, into criminality,” Mr. Aidala said of the accusers.

Mr. Aidala hoisted more than a dozen poster-sized printouts of e-mails between Mr. Weinstein and his accusers, saying they showed the sex was consensual.

Ms. Mann told jurors during the trial that Mr. Weinstein raped her in a hotel room.

He faces a maximum sentence of up to 29 years in prison if convicted on all charges. Mr. Weinstein already will likely spend the rest of his life in prison due to a 16-year prison sentence for rape in California.

He was convicted of rape by a jury in the previous trial in Manhattan in February 2020, but the New York Court of Appeals threw out the conviction and ordered a new trial, citing errors by the trial judge. Mr. Weinstein had been serving a 23-year sentence in a prison in upstate Rome, New York, when the conviction was overturned.

That conviction was a milestone for the #MeToo movement, which encouraged women to come forward with allegations of sexual misconduct by powerful men.

Mr. Weinstein has been held at New York City’s Rikers Island jail since his conviction was overturned. He has had several health scares while being held at Rikers, and in September was rushed to a hospital for emergency heart surgery.

The office of Manhattan District Attorney Alvin Bragg accused Mr. Weinstein in the first trial of sexually assaulting former production assistant Miriam Haley in 2006 and raping Ms. Mann in 2013, charges on which he was convicted. For the retrial, prosecutors added a new charge that Mr. Weinstein assaulted another woman, Kaja Sokola of Poland, in Manhattan in 2002.

More than 100 women, including famous actresses, have accused Mr. Weinstein of misconduct. He has denied assaulting anyone or having non-consensual sex.

Miramax studio produced many hit movies in its heyday, including Shakespeare in Love and Pulp Fiction.

Mr. Weinstein’s own eponymous film studio filed for bankruptcy in March 2018, five months after the original sexual misconduct accusations became widely publicized. — Reuters

PDIC gets P411M from asset sales

THE PHILIPPINE Deposit Insurance Corp. (PDIC) generated P411.4 million from asset sales last year as it disposed of some properties of closed banks.

This was up 24.7% from the P330 million it earned in 2023.

“The funds or proceeds from these disposal transactions of the closed bank assets are held in trust by the PDIC and are used to settle claims of closed bank creditors, including depositors with uninsured deposits. The sales proceeds of corporate assets, meanwhile, augments the Deposit Insurance Fund (DIF), the primary source for deposit insurance claim payments,” PDIC said in a statement.

The state deposit insurer’s 2024 asset sale proceeds came from the disposal of 281 properties, 210 of which were owned by closed banks and the remaining 71 being PDIC-acquired assets.

It added that while the same number of assets were sold in 2024 versus the 2023 level, the value was higher as the sale value exceeded the aggregate minimum bid price of P398.3 million.

PDIC said P194.9 million out of the total 2024 proceeds came from the sale of properties that went through public bidding for more competitive pricing.

The remaining P216.4 million was generated through negotiated sales, where it offered the assets that went unsold at the public bidding exercises.

PDIC President and Chief Executive Officer Roberto B. Tan said in March that the state deposit insurer aims to auction off 350 properties this year to generate revenues.

“The PDIC remains committed to enhancing its asset disposal programs through innovative disposal strategies to attract more buyers, process streamlining to ensure efficiency and ease of transactions; and vigorous marketing initiatives to optimize property values and maximize recoveries such as segmentation and profiling of prospective buyers, partnership with the Pag-IBIG, conduct of virtual tours to interested bidders, and enhanced property search engine on the PDIC Assets for Sale microsite in the PDIC website,” it said.

“With these measures, the corporation aims to further increase asset sales, improve financial recoveries, and support the stability of the financial system by helping ensure funds are plowed back to the economy by way of investments and/or savings.” — A.M.C. Sy

Hard sell

STOCK PHOTO | Image by Camila Quintero Franco from Unsplash

EXCEPT for masochists who accept any hardship as invigorating, pain as a brand promise is what marketers call a “hard sell.” Still, it can be done. And there are products and services that succeed with it.

Religion recommends discomfort and pain as salvific forms of mortification. Fasting, abstinence, loss of loved ones, and long pilgrimages to sacred sites are perceived as a way of purifying the soul.

But even in our material world, pain can be promoted as a desirable avenue towards a greater goal, the necessary bridge to a desired state.

Diets promote deprivation of the pleasure of eating unhealthy foods. (Please avoid sugar.) What about those punishing exercise programs like training for half-marathons? Gyms that stay open at night offer aches and discomfort as selling points, with the slogan “no pain, no gain.” Pain can be an indicator of success: the greater the agony, the higher the chances of success.

Pain then becomes the proof of effectiveness for a regimen of workouts like running on a treadmill, lifting weights, doing bending exercises, even running in hot weather. Without pain or at least some heavy panting, the effort is seen as simply not enough to move the needle.

Management consultants too sell pain. For a company to be considered healthy, a painful process of cost-cutting (lessen your benefits), headcount reduction (your head, not mine) is often prescribed. This necessary discomfort is seen as the way back to recovery and ultimate glory.

Fraternities promote an initiation process which entails pain, and now and then even hospitalization and death, as a rite of passage to join an exclusive club. The pain is seen as a way of proving one’s worthiness to be called “Brod.” Without such suffering as a barrier to entry anybody can become a member, so the more painful the rite, the more exclusive the fraternity. (Just bend over, please.)

Cosmetics and healthcare products highlight rejection as the incentive to consider the products being promoted. Ostracism and ridicule are highlighted as pain points that can be overcome. Bad breath, body odor, a pitted face, or excess body weight are social ills that need to be removed. This way of selling pain features a “before” and “after” split screen of pain and pleasure.

The father who spanks a child to give him a lesson he won’t easily forget explains his action as just as painful to him as to the child taking the beating. (This hurts me more than it hurts you.) Of course, it is difficult for a child to accept this assertion.

Pain is promoted as a necessary means to achieve a desired goal. The suffering is not a marketable product by itself. Still, one only needs to understand the penchant for tattoos. The self-inflicted pain in inscribing “skin art” does not seem to be compensated for by any benefit. Maybe tattoo artists have discovered a way to sell pain without any benefit in sight, especially when the markings are hidden by underwear.

Occasionally, the government may embark on an austerity program to cut down on the budget deficit. The hardships and deprivations of the present are linked to a better fiscal status in the future — eat the tariffs.

Government programs rely on the PR value of any message they want to communicate. A belt-tightening effort relies more on perception than the actual impact of any cost reduction. This can entail less trips abroad (certainly not attending concerts), more modest cars for public officials, and dispensing with motorcycle escorts and their noisy warnings.

A message of pain and suffering is garbled by taking along family members and volunteer lawyers on a trip to the Hague. The travel expense is explained away as a small cost borne by the family and not charged to the government. Unwittingly this message of “no cost from the public purse” seems to admit that someone else is picking up the tabs. Maybe, the cost is somehow defrayed by payments to fictitious people with unusual names.

The challenge with selling pain is that it doesn’t have too many buyers, especially when those selling it don’t seem to use the product they are endorsing. Also, the expected benefit always comes with a non-refundable cost… including failure to receive the brand promise.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

SEC launches digital assistant to answer regulatory queries

SCREEN GRAB FROM FACEBOOK.COM/PHILIPPINESEC

THE Securities and Exchange Commission (SEC) has launched a chatbot to assist the public with queries on its rules, regulations, and procedures.

In a statement on Wednesday, the corporate regulator said the platform — called SEC AInnovation — was launched on June 2 as part of efforts to improve access to legal and regulatory information.

SEC AInnovation synthesizes content from legal sources such as Republic Act No. 11232 or the Revised Corporation Code, Republic Act No. 8799 or the Securities Regulation Code, and related implementing rules and regulations, memorandum circulars, advisories, and SEC online services.

In addition to its chatbot interface, the platform supports multi-modal interaction through voice-capture features and clickable topic links.

The chatbot is built on a natural language processing engine that allows users to communicate in English, Filipino, Bisaya, and other local languages.

The SEC said the new platform aims to reduce the need for manual research and in-person visits for concerns related to transactions with the agency.

“This initiative is all about breaking barriers and making our services faster, smarter and more accessible to everyone, not just in the Philippines but all over the world. This system is built to communicate the way you do, breaking language barriers and making sure that everyone feels heard and understood,” outgoing SEC Chairperson Emilio B. Aquino said during the launch.

“It’s a fusion of AI (artificial intelligence) and innovation, reflecting the commission’s strong commitment to leveraging advanced technology to better serve the public. This platform represents the commission’s bold step into the future,” he added. — Revin Mikhael D. Ochave

Fujifilm’s instax mini 41 now available in PHL

FUJIFILM PHILIPPINES, INC.

FUJIFILM’S latest instant camera model, the instax mini 41, is now available in the Philippines.

The instax mini 41 is priced at P6,599 and can be purchased at Fujifilm’s authorized dealers nationwide, Fujifilm Philippines, Inc. said in a statement.

The new instant camera is an updated version of its predecessor, the instax mini 40.

“Retaining the classic, vintage-inspired aesthetic that made the mini 40 a favorite among users of all ages, the mini 41 introduces a refreshed, modern look. Its sleek black body, complemented by dark-toned silver and a pop of orange, adds a bold, fashionable edge, making it not just a camera, but a statement accessory,” the brand said.

The camera has a classic analog design that features upgrades for a better shooting experience.

One feature is Close-up mode, which has a built-in parallax adjustment to help minimize the difference between what users see via the camera’s viewfinder and the final print when taking close-up shots.

It also has an enhanced Automatic Light Adjustment feature that selects the exposure according to the shots being taken.

“Rotating the lens one step activates the Close-up mode, perfect for close-up shots and selfies. The mode adjusts the viewfinder field of view to match the actual printout area in close-up shots through parallax adjustment. Users can now easily enjoy close-up shots without having to shift the center point seen through the viewfinder,” Fujifilm Philippines said.

“The Automatic Light Adjustment feature intelligently detects ambient light the moment the shutter button is pressed, automatically optimizing both the shutter speed and flash output based on the scene. Whether you are shooting in bright outdoor settings, dimly lit indoor spaces, or capturing close-ups and selfies, the mini 41 ensures each photo is well-exposed, bringing out the best in both your subject and the background,” it added.

The mini 41 is powered by two AA-size alkaline batteries and uses instax mini instant film packs. Its body weighs 345 grams without batteries and film loaded. — BVR

Sean ‘Diddy’ Combs paid hotel security officer to hand over video, jury hears

Sean “Diddy” Combs on the talk show Late Night with Seth Myers. — IMDB

NEW YORK — Sean “Diddy” Combs paid a hotel security officer to hand over surveillance footage that showed the hip-hop mogul violently attacking his then-girlfriend Casandra Ventura in a hallway, the officer testified on Tuesday at Mr. Combs’ sex trafficking trial.

Eddy Garcia, who had worked at an Intercontinental hotel, told jurors that Mr. Combs contacted him shortly after the incident and asked for the footage. Mr. Combs said he would “take care” of Mr. Garcia if he gave him the video, Mr. Garcia said.

“He was concerned that this video would get out and that it would ruin his career,” said Mr. Garcia, who was granted immunity from prosecution to testify.

Mr. Combs, 55, has pleaded not guilty to five counts including racketeering conspiracy and sex trafficking.

Federal prosecutors in Manhattan say Mr. Combs over two decades coerced women, including Ms. Ventura, to take part in drug-fueled sexual performances with male sex workers known as “Freak Offs.”

The trial is in its fourth week.

Jurors had previously been shown a March 2016 surveillance video from the hallway of the Intercontinental hotel in Los Angeles where Mr. Combs, wearing only a towel, threw Ms. Ventura to the ground, kicked her, and dragged her away.

Ms. Ventura said the incident occurred after Mr. Combs had given her a black eye during a “Freak Off.”

Mr. Garcia said he relayed Mr. Combs’ message about the video to his boss, who told him he would give Mr. Combs the video in exchange for $50,000.

The next day, Mr. Garcia testified he saw his boss enter the room that hosted servers for the surveillance cameras.

He said the boss gave him a USB drive, which he gave to Mr. Combs, who later returned with a brown bag and a money counter.

Mr. Garcia said Mr. Combs ran cash from the bag through the counter, which displayed $100,000, returned the money to the bag, and handed the bag to him.

Mr. Combs’ lawyers have acknowledged he was at times abusive in domestic relationships, but argue that women who took part in “Freak Offs” did so consensually.

Prosecutors say bribery is among the racketeering acts that Mr. Combs or his employees undertook in order to facilitate “Freak Offs” and prevent word of his abuse from getting out.

Mr. Combs could face life in prison if convicted on all counts. Prosecutors have said they may finish presenting their case next week, allowing the defense to put on its case. — Reuters

Singlife Philippines launches product to help cover funeral, end-of-life expenses

SINGLIFE PHILIPPINES, Inc. has launched a whole life insurance product to help cover funeral arrangements or other end-of-life expenses.

The Protect from Funeral Costs product is now available on the insurer’s all-digital mobile platform, the Singlife Plan & Protect app.

“Losing someone you love is already one of life’s most difficult moments, and having to rely on abuloy or having to pass the hat just to pay for funeral costs makes it even harder. Protect from Funeral Costs allows you to prepare in advance and leave behind a final act of love, one that ensures your family can grieve without financial worry. It’s part of our mission at Singlife: to empower every Filipino toward financial independence — in life, and beyond it,” Singlife Philippines Chief Executive Officer Lester Cruz said in a statement on Wednesday.

The product offers a lump sum cash benefit of up to P500,000. Customers can avail of coverage ranging from P100,000 to P500,000, with premiums starting at P447 per month and with payment terms of five or 10 years.

“With funeral expenses in the Philippines typically exceeding P200,000, Singlife’s latest product provides straightforward, flexible coverage in the face of a very real financial risk,” it said.

“Whether it’s for a modest ceremony or a more elaborate farewell, your loved ones can decide how to use the money without being locked into a fixed package from a funeral service provider. The product was designed with key features to give customers a convenient and easy way to plan for their funeral expenses.”

The policy also features a built-in financial needs analysis that will help clients estimate the coverage needed based on their preferences. It will also build cash value over time, which can be borrowed by the fourth year.

Policyholders also have the option to extend their plan to their spouse, life partner, or child.

Beneficiaries will receive 10% of the cash benefit in advance upon submission of the policyholder’s death certificate and identity verification.

“This helps cover urgent funeral expenses while the remaining amount is released upon claim approval.”

Singlife Philippines’s premium income stood at P491.79 million as of end-2024, data from the Insurance Commission showed. It posted a net loss of P399.94 million last year. — Aaron Michael C. Sy

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