Britney Spears memoir says she had abortion while dating Justin Timberlake

October 19, 2023 | 12:02 am

LOS ANGELES — Britney Spears recounts in a forthcoming memoir that she had an abortion to end a pregnancy by fellow pop star Justin Timberlake while the two were dating in the late 1990s and early 2000s, according to excerpts published on Tuesday in People magazine.

Spears, 41, recalled in her autobiography, The Woman in Me, that the pregnancy “was a surprise” but she wanted to have the baby and agreed to an abortion at Timberlake’s insistence.

“I loved Justin so much. I always expected us to have a family together one day,” Spears wrote. “But Justin definitely wasn’t happy about the pregnancy. He said we weren’t ready to have a baby in our lives, that we were way too young.”

Had it been her decision alone, Spears wrote, “I never would have done it. And yet Justin was so sure that he didn’t want to be a father.” She described the episode as “one of the most agonizing things I have ever experienced in my life.”

Representatives for Timberlake, 42, did not immediately respond to Reuters’ request for comment.

Timberlake and Spears, who met as young cast members on television’s The Mickey Mouse Club, dated for about three years in their late teens and early 20s, becoming tabloid sensations, before splitting abruptly in 2002.

Spears was questioned relentlessly in the media about her virginity, while Timberlake said he had slept with her and then wrote a song “Cry Me a River,” in which he implied she had been unfaithful to him in their relationship.

In 2021, following a TV documentary about Spears that included a segment on how she was shamed in the media when their relationship ended, Timberlake publicly apologized to Spears on social media, saying he had “failed” her.

Spears went on to become a mother to two sons, now aged 18 and 17, with her second husband, Kevin Federline, a singer and onetime backup dancer to whom she was married for two years.

In April 2022, Spears said she was expecting a third child with then-fiance Sam Asghari but the following month she said she suffered a miscarriage. She and Asghari wed in June 2022, but he filed for divorce 14 months later, in August of this year.

Spears’ highly anticipated memoir comes nearly two years after she was released from a 13-year court-ordered conservatorship set up and controlled by her father, Jamie Spears. The arrangement had governed Spears’ personal life, career and $60 million estate from 2008 until it was terminated in November 2021.

The memoir’s title apparently was taken from a line in the book in which Spears wrote, “The woman in me was pushed down for a long time. They wanted me to be wild onstage, the way they told me to be, and to be a robot the rest of the time.”

The book is due for release Oct. 24 from Gallery Books, an imprint of Simon and Schuster. — Reuters

Singapore’s central bank to inspect Credit Suisse, others in major scandal

October 19, 2023 | 12:01 am

SINGAPORE’S financial regulator will conduct an on-site inspection of Credit Suisse Group AG after at least one of its customers was charged for money laundering in a scandal that has rocked the city-state.

The local unit of Credit Suisse will be among banks the Monetary Authority of Singapore (MAS) plans to examine to determine whether they properly handled the monitoring of wealthy clients, according to people familiar with the matter. Officials from the regulator are set to interview personnel and review documents within weeks, the people said, asking not to be identified as the information isn’t public.

The planned inspection underscores the seriousness of the scandal that has ensnared at least 10 domestic and international banks in the Asian financial hub. More than S$2.8 billion ($2 billion) of assets from cash to jewelry have been seized from a group of alleged money launderers with Chinese origin.

The MAS’s upcoming visit would be outside its regular engagements with banks, and signals potential issues with the lenders’ sizable exposure to the suspects and overall handling of client vetting, the people said. Credit Suisse is among the banks that have relationships with either the accused, or their companies. One of the suspects, Vang Shuiming, held S$92 million at the Swiss lender, the biggest known account so far in the case.

Credit Suisse declined to comment. An MAS spokesperson referred Bloomberg News to comments made in parliament this month by Minister of State Alvin Tan, who said the regulator is conducting supervisory reviews and inspections of the banks with “a major nexus” to the case. Mr. Tan also said it was concerning that financial assets made up the vast bulk of what was seized so far.

For Credit Suisse, the review is but one of many headaches its new parent UBS Group AG will have to deal with as it focuses on integrating thousands of employees from its former rival across the world. The MAS did a similar inspection on Credit Suisse in 2017 for its role in the 1MDB saga, Malaysia’s biggest corruption case, and consequently the bank was fined S$700,000. The amount was the smallest penalty the regulator imposed on banks in Singapore at the time.

With 1MDB, MAS’ actions in the aftermath of the scandal also included banning financiers over breaches and shuttering the local units of two Swiss banks.

Besides Credit Suisse, Mr. Vang also had bank accounts with others including Bank Julius Baer where he had S$33 million as well as United Overseas Bank Ltd. and RHB Bank Bhd.’s local unit, according to police affidavits. Mr. Vang’s other charges include forgery of a bank document to trick Citibank Singapore Ltd.

It is not clear which other banks will be subject to MAS inspection, which could look into what red flags were raised internally and when so-called suspicious transaction reports were filed, the people added.

After the case erupted in August, banks in the city-state have further stepped up existing scrutiny on clients especially those of Chinese origins with multiple passports, Bloomberg reported last month. The authorities are also looking into how one or more of the accused may have been linked to single family offices with incentives, and will tighten the rules where necessary.

Investigations of the money-laundering ring date back to 2021 after banks and companies filed suspicious transaction reports, communications minister Josephine Teo told parliament. The MAS earlier said these reports had alerted authorities to suspicious activities attempted through the country’s financial system. — Bloomberg

Feud for thought

October 19, 2023 | 12:01 am

FEUDS and public disagreements are the stuff of both social and traditional media. Sometimes, the conflict is between regulators and regulated — TV personalities condemned for icing escapades (What is it about icing whether wiped on the face of a waiter serving cake at a birthday party, or publicly sucked from the fingers of a loved one, slowly and on live TV?). They also cover corporate struggles of certain groups for control of a company; walkouts in budget hearings; and celebrity couples in disarray — there is no third person.

Public conflicts provide drama as past histories are shared and the current conflict is traced to some divergence at some point when friends turned to foes. A senior statesman may even get into the fray on a purely non-political discourse of social etiquette.

There is even a self-appointed scold who throws verbal darts at established celebrities (she’s all washed up) just to start the ball rolling and provide click bait on his sites. He is fond of posting his bare-chested photo and describing himself as an influencer, and motivational speaker. How does he motivate? Is that the same as afflicting the comfortable and waiting for their reaction, if any? Is it best to just ignore him altogether?

Are such feuds being fueled by those with some hidden agenda, or merely the creation of media as simpler to report than inflation rates, the price of rice, and sovereign funds?

“Feudal” reporting is not confined to politics or entertainment. Business journalism has gotten into the feud business too and now no longer discusses price-earnings ratio, market share, innovations, or returns on investments. It is starting to focus on personal animosity within a company, between owner and labor leaders, between titans taking over and being taken over, among stockholder blocks, and between regulatory agencies and the companies they supervise and barriers they impose on doing business in this country.

Specialty media organizations now feature business gossip. These specialize in starting feuds and attacking corporate personalities. Such online medium follows a business model. Yes, it’s about ad revenues. It reaches out to the targets and markets a year’s worth of ad placements in exchange for peace of mind. It’s the old-fashioned Sicilian model for protection. They ask for ads and ensure peace and quiet. For a little more, they can feature the target in a friendly interview. Questions will be submitted ahead of time so there are no surprises. They have a way of marketing placements by little reminders.

It is not surprising that media emphasis on feuds has somehow evolved into an obsession not with issues but personalities.

Coverage based on hostility between persons concentrates on looking for villains. The finger-pointing exercise of he-said-she-said gets heated especially with the inevitable exaggerations encouraged by commentators.

In the verbal boxing match, the basic understanding of ideas and issues becomes irrelevant. And because the exchange of accusations becomes ever more acrimonious, the resolution of a crisis, which all parties concerned should endeavor to promote, becomes difficult. Only the waning interest of the audience saves the crisis from getting worse.

The feud characterizes public life. Thus, party politics does not even pretend to be about ideas, but about alliances around dominant personalities. The ascent of parties is measured not in the advancement of their ideas but in the level of defections they can attract.

When confronted with a crisis, our first instinct is to fix the blame, rather than look for a solution. The priority when anything goes wrong is to find out who was responsible — who approved this thing and which camp does this villain belong to?

The feudal slant has not graduated beyond the tabloid approach. Feuds do not necessarily stand for differences in opinions and views on price caps, food taxes, and tariffs. They are just clashes of celebrities tearing out each other’s teeth.

Issues anyway seem too daunting to explain in their complexity. What about the intricacies of the educational system? Isn’t it better to focus on walkouts and confidential budgets? Underneath those feuds and verbal exchanges lie real issues of right and wrong. Perhaps national issues need to have faces… so that they can be properly faced.

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Stock trading platform Cera rolls out in PHL

October 19, 2023 | 12:01 am

STOCK TRADING platform Cera rolled out its beta launch in the Philippines, allowing Filipinos to invest in US stocks using stablecoins.

In a statement on Wednesday, Cera said the beta launch was done in partnership with blockchain platform Fireblocks.

Cera allows users anywhere to invest in US stocks via stablecoins such as USD Coin, Tether, and Binance USD. The platform allows users to invest in the US stock market for as low as $2. The platform also supports investments in fractional shares, allowing increased flexibility to users.

With the launch, Cera said that Filipinos could now purchase and trade stocks including energy companies, healthcare providers, and tech giants such as Tesla Inc., Apple, Inc., and Microsoft Corp. via stablecoins.

“Each of the stablecoins is pegged to a value of $1, ensuring stability and eliminating the hassle of complex account setups and international transactions,” Cera said.

For a limited time, Cera will offer up to $50 for new signups that make eligible deposits, as part of its beta launch. A referral program would also be available for users who introduce their friends to the platform.

“Cera is revolutionizing the entryway to the US stock market through a seamless deposit, purchase, and trade process. Our core values of stability, transparency, and accessibility ensure that diverse global communities including Filipinos can confidently engage with the market,” Cera Product Lead Daniel Phan said.

“We aspire to empower anyone in the world with global investment opportunities, emphasizing ease and user fund security. Our partnership with Fireblocks ensures that our users always have control over their investments,” he added.

Founded in 2022, Cera is backed by American technology startup accelerator Y combinator. The stock trading platform seeks to provide an equal opportunity for everyone in the world to grow their wealth, starting with investing in the US stock market.

The Cera app is available on Google Play and Apple Store. — Revin Mikhael D. Ochave

Prosecutors to recharge Alec Baldwin for Rust shooting

October 19, 2023 | 12:01 am

Alec Baldwin in Rust — Alec Baldwin in a scene from Rust. — IMDB

New Mexico prosecutors on Tuesday said they intended to recharge actor Alec Baldwin with involuntary manslaughter for the fatal shooting of Rust cinematographer Halyna Hutchins in 2021.

Baldwin’s case will be brought before a grand jury in mid-November, special prosecutor Kari Morrissey said.

The move followed results of an independent forensic test that found Baldwin had to have pulled the trigger of a revolver he was rehearsing with for it to fire the live round that killed Hutchins and wounded director Joel Souza.

The finding was the same as a previous FBI test on the firearm.

“After extensive investigation over the past several months, additional facts have come to light that we believe show Mr. Baldwin has criminal culpability in the death of Halyna Hutchins and the shooting of Joel Souza,” Morrissey and Jason Lewis said in a statement.

Baldwin has said he is not responsible for Hutchins’ death and he did not pull the trigger.

“It is unfortunate that a terrible tragedy has been turned into this misguided prosecution. We will answer any charges in court,” Luke Nikas and Alex Spiro, lawyers for Baldwin, said in a statement.

The 30 Rock actor was originally charged with involuntary manslaughter in January for Hutchins’ death, along with the movie’s chief weapons handler Hannah Gutierrez, who faces a 2024 trial.

The planned grand jury marked a setback for Baldwin after prosecutors dismissed charges against the actor in April after new evidence the gun he used might have been modified, allowing it to fire without the trigger being pulled.

Morrissey said if new testing of the gun showed it was working, she would recharge Baldwin.

Prosecutors often use grand juries as they are an easier means to prove probable cause and proceed to trial than filing a criminal complaint that can be probed by defense lawyers at a preliminary hearing, legal experts say. — Reuters

Restored Paul McCartney and Wings tour bus to be auctioned

October 19, 2023 | 12:01 am

McCartney wings tour bus — JULIENSLIVE.COM

LONDON — A fully restored double-decker bus used by Paul McCartney and his band Wings for a 1972 European tour is headed for auction next month, with bids expected at $200,000-300,000.

Former Beatle McCartney and his late wife Linda formed the American-British rock band, Paul McCartney and Wings, known as Wings, together with drummer Denny Seiwell and guitarist Denny Laine in 1971, after the break-up of the legendary band, the Beatles.

In the summer of 1972, they set off for the Wings Over Europe tour, travelling on the 1953 Bristol KSW double-decker bus, known as WNO 481.

“Paul and Linda had two young girls, the two Dennys from the band had wives and kids as well, and Paul didn’t want them to be in an enclosed bus. He wanted something fun,” said Martin Nolan, founder of Julien’s Auctions, which is selling the vehicle as part of its “Played, Worn, & Torn: Rock ‘n’ Roll Iconic Guitars and Memorabilia” auction next month.

The bus, whose exterior is painted in shades of blue, red, green, and yellow, with psychedelic artwork, reflecting the hippie style of the era, travelled across nine European countries on the 1972 tour.

Discovered in Spain in a state of decay, it was brought back to Britain by its owner, who fully restored it into a fully functioning bus that looks like the original.

“This bus went all over south of France and Germany and Finland… just a summer of fun with the Wings band,” said Nolan.

Some 1,000 items, including guitars played by Eric Clapton and Kurt Cobain, are being offered at the auction from Nov. 16–18, taking place at the Hard Rock Cafe in Nashville and online. — Reuters

PHL posts biggest improvement in 5G games experience

October 19, 2023 | 12:01 am

THE PHILIPPINES saw the biggest improvement in 5G games experience globally, buoyed by Globe Telecom, Inc., according to mobile analytics company Opensignal.

Globe users saw a 30.3% year-on-year improvement in 5G games experience — the highest in Group I of global telco operators surveyed for the Opensignal 5G Global Mobile Network Experience Awards 2023 released on Tuesday.

This was followed by Movistar in Chile with 26.7% and Free Mobile in France with 26.1%, Opensignal said.

The Philippines was recognized once across the key measures of the 5G experience examined by the study, which are 5G availability, 5G download speed, and 5G games experience.

“As it is a hugely different — and more difficult — undertaking to roll out 5G across a vast territory than across a small nation or city-state, we have split operators into two groups,” Opensignal said.

“Group I contains operators from markets with a land area of more than 200,000 square kilometers while Group II consists of operators whose home market is below this threshold,” it added. “This allows for more meaningful comparisons and better reflects the difficulties associated with deploying 5G across large swathes of lightly populated terrain.”

For the Philippines, Globe and Smart Communications, Inc. were part of Group I. The study covered 90 operators in Group I and 74 operators in Group II.

Opensignal noted the main challenge 5G operators face, which is taking advantage of 5G’s improvement of user experience to maximize their return on investment.

“This is best achieved by chief network officers targeting their next round of investment in the areas that create the most customer opportunity, while chief marketing and revenue officers focus their offensive tactics in the areas where their mobile experience is superior to their competitors,” it added. — M.H.L. Antivola

How PSEi member stocks performed — October 18, 2023

October 19, 2023 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Wednesday, October 18, 2023.

How does the Filipino youth’s progress compare with that of other countries?

October 19, 2023 | 12:00 am

The Philippines edged up a notch to 77th out of 153 countries with a score of 71.43 (out of 100) in the 2023 edition* of the Youth Progress Index (YPI) by Social Progress Imperative and European Youth Forum. The index ranks countries based on young people’s quality of life across the three key dimensions: basic human rights, foundations of well-being, and opportunities for young people.

PHL stocks inch lower as market stays cautious

October 18, 2023 | 9:00 pm

PHILIPPINE SHARES inched lower on Wednesday as investors stayed on the sidelines amid an increase in US Treasury yields and the ongoing conflict in the Middle East.

The Philippine Stock Exchange index went down by 12.63 points or 0.2% to close at 6,268.27 on Wednesday, while the broader all shares index shed 5.98 points or 0.17% to end at 3,385.40.

“Stocks moved sideways as traders continued to stay on the sidelines. Sentiments were hampered by the rise in US benchmark yields overnight. Concurrently, ongoing tensions in the Middle East continued to hound market confidence,” AB Capital Securities, Inc. Vice-President Jovis L. Vistan said in a Viber message.

“Nevertheless, downside risks appear to be constrained, considering the attractiveness of market valuations when viewed through a historical lens,” Mr. Vistan added.

Shares went down as the investors remain concerned over the was in the Middle East, Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message.

“Investors were concerned about the escalating conflict’s impact on oil prices, potentially leading to an increase in domestic oil prices if global prices continue to climb. This situation is anticipated to be unfavorably received by investors, especially in light of our elevated inflation,” Ms. Alviar said.

“Philippine shares edged lower as investors analyze the latest bond yield movement and on corporate earnings stateside. The yield on the 10-year US Treasury note hit its highest level since (October),” Regina Capital Development Corp. Head of Sales Luis A. Limlingan added in a Viber message.

Two-year US Treasury yields surged by as much as 14 basis points on Tuesday to a 16-year peak of 5.24%, Reuters reported. The two-year was last at 5.20%, while 10-year yields were back near recent highs at 4.84%.

Meanwhile, a huge explosion at a Gaza hospital killed hundreds of Palestinians, wrecking a diplomatic mission by US President Joseph Biden, who arrived in Israel on Wednesday but was snubbed by Arab leaders who called off an emergency summit.

Palestinian officials blamed an Israeli air strike for the huge blast and fireball which engulfed the Al-Ahli al-Arabi hospital.

Back home, the majority of sectoral indices dropped on Wednesday. Property fell by 20.60 points or 0.77% to 2,652.59; mining and oil decreased by 76.89 points or 0.7% to 10,853.49; holding firms declined by 31.85 points or 0.53% to 5,907.47; and services went down by 7.46 points or 0.48% to 1,541.10.

Meanwhile, industrials rose by 89.50 points or 1.01% to 8,916.02 and financials climbed by 1.94 points or 0.1% to 1,799.46.

Value turnover went down to P5.12 billion on Wednesday with 1.12 billion shares changing hands from the P5.69 billion with 1.25 billion issues seen on Tuesday.

Decliners outnumbered advancers, 92 versus 73, while 61 shares closed unchanged.

Net foreign selling stood at P32.59 million on Wednesday versus the P276.42 million in net buying recorded on Tuesday. — SJT with Reuters

Peso climbs further vs dollar on strong China GDP growth

October 18, 2023 | 9:00 pm

THE PESO appreciated further against the dollar due to easing concerns over a global economic slowdown after a stronger-than-expected Chinese gross domestic product (GDP) report.

The local currency closed at P56.70 versus the dollar on Wednesday, strengthening by 4.6 centavos from Tuesday’s P56.746 finish, data from the Bankers Association of the Philippines’ website showed.

The local unit opened Wednesday’s session at P56.72 per dollar. Its intraday best was at P56.68, while its weakest showing was at P56.775 against the greenback.

Dollars traded went down to $877.55 million on Wednesday from the $1.109 billion on Tuesday.

“The peso appreciated as the stronger-than-expected Chinese economic growth report eased concerns of a near-term global slowdown,” a trader said in an e-mail.

Market sentiment was boosted by stronger-than-expected Chinese economic data on GDP, retail sales, and industrial production, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

China’s GDP grew 4.9% year on year in the third quarter, data released by the National Bureau of Statistics showed.

For Thursday, the trader and Mr. Ricafort see the peso moving between P56.60 and P56.80 per dollar. — AMCS

India eases ban on white rice exports, gives PHL top quota

October 18, 2023 | 8:54 pm

THE INDIAN government said on Wednesday that it eased its ban on exporting non-basmati white rice, and gave the Philippines a quota of 295,000 metric tons (MT), the largest share among selected destination countries.

India also cleared exports of the commodity to Nepal, Cameroon, Cote d’ Ivoire, Guinea, Malaysia, and the Seychelles, India’s director of Foreign Trade said in a statement.

India, the world’s largest exporter of white rice, had suspended exports of non-basmati white rice earlier this year amid concerns over domestic supply, putting upward pressure on international prices. White rice is the variety most commonly traded internationally, while basmati is the preferred domestic Indian variety.

The Philippines typically imports rice from Southeast Asia because regional trade agreements grant ASEAN grain a tariff advantage. The food inflation crisis of early 2023 forced the Philippines to admit non-ASEAN rice on more favorable terms.

Raul Q. Montemayor, national manager of the Federation of Free Farmers, said that the Indian concession does not a guarantee access to Indian rice.

“(Import decisions) depend on the price (and) quality,” Mr. Montemayor said in a Viber message.

“In the past, our importers had not purchased rice from India despite significantly lower prices, most probably due to concerns about quality and reliability of supply,” he added.

Agriculture Senior Undersecretary Domingo F. Panganiban said in a statement in August that the Philippines had appealed to the Indian government to continue allowing rice shipments to the Philippines on humanitarian grounds.

Agriculture Undersecretary Leocadio S. Sebastian told reporters on Monday that Philippine rice imports could drop to 3.1 million MT amid higher global rice prices.

The US Department of Agriculture expects the Philippines to be the world’s top rice importer this year, with shipments of about 3.8 million MT.

Mr. Montemayor said Philippine demand for imported rice is between 2.5 million and 3 million MT, describing any volumes from India as “not that significant, even assuming we import (the entire quota),” he added. — Adrian H. Halili