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Johnny Depp marks celebrity comeback with Cannes opening film

REUTERS

CANNES — Johnny Depp seemed back in full celebrity mode on Tuesday, signing autographs and taking pictures with fans before the premiere of the Cannes Film Festival’s opening film Jeanne du Barry, which marks the actor’s first major role since his high-profile defamation trial.

Fans in the French Riviera city were seen hoisting signs that read “Congrats, Johnny” and “We are sorry” with a heart.

The festival delivered on its glamorous reputation with a parade of stars including Mads Mikkelsen, a blue-haired Helen Mirren, and John C. Reilly making their way across the red carpet.

Michael Douglas, accompanied by his wife, Catherine Zeta-Jones, and their daughter, did not stop to sign autographs as he made his way into the Grand Theater Lumiere, where the 78-year-old actor was given an honorary Palme d’Or.

“There are hundreds of film festivals all around the world, but there’s only one Cannes,” Mr. Douglas told the crowd. “And suddenly, (it’s) 76 years old — I’m even older than the festival,” he quipped.

French cinema icon Catherine Deneuve, 79, who graces this year’s festival poster, was also invited on stage to speak to guests.

Mr. Depp plays King Louis XV in Jeanne du Barry, directed and starring French actor and director Maïwenn Le Besco, known as Maïwenn, as the French courtesan Madame du Barry who climbed the social ladder at Versailles to become the king’s favorite.

Critics highlighted the lush look of the film, which received funding from Saudi Arabia’s Red Sea Film Foundation as part of a total estimated budget of $22.4 million — but said it lacked a pulse.

“Even the casting — some would say stunt casting — of Johnny Depp as the king offers a few early thrills and then mostly yawns,” wrote The Hollywood Reporter.

The French-language film, which does not yet have a release date for North America, marks the start of a comeback for the Pirates of the Caribbean actor, who has made few film or TV appearances since his trial concluded in June 2022.

Depp was handed a near-total victory by a US jury in his defamation fight with former wife and actress Amber Heard, with jurors awarding him more than $10 million in damages.

Less than two years before, Mr. Depp lost a libel suit in Britain against the Sun tabloid, which called him a “wife beater.” Shortly after, Mr. Depp was dropped from the Fantastic Beasts movie franchise, a Harry Potter spinoff.

Festival director Thierry Fremaux said on Monday that he was unaware of Mr. Depp’s image in the US and because he was not banned from acting, there was no reason not to include the film.

An open letter signed by more than 100 actors published on Tuesday in French newspaper Liberation criticized Cannes for “rolling out the red carpet to the men and women who assault.” It said that sent a message that there were no consequences for such actions, though it did not give any specific names. — Reuters

Mobile app business affected by poor connectivity — Opensignal

SARA KURFESS-UNSPLASH

THE mobile app business suffers when connectivity is poor as it turns users off from spending more time in apps, global consumer analyst Opensignal said.

“When there’s poor connectivity, users spend less time in apps as they become dissatisfied with the experience and are less likely to retain apps on their device,” said Ian Fogg, who authored the Opensignal report.

It found that users spend 20% less time in each app session when with poor connectivity. App retention rates are also 49% lower for users whose connectivity is consistently poor after a week.

The Philippines’ mobile internet is ranked 79th in the world, with a median download speed of 25.63 megabits per second (Mbps), according to Ookla’s March 2023 report.

Meanwhile, Philippine fixed broadband placed 41st with a median download speed of 90.57 Mbps.

“Poor connectivity directly affects app revenues as well as increasing user dissatisfaction. Almost all apps are monetized either through in-app purchases or advertising,” Mr. Fog added.

The Opensignal study found that smartphone users globally have a poor cellular signal during 29% of app sessions, resulting in fewer adverts being shown to users and thus hurting app revenues.

“Additionally, if users spend less time in apps, they are more likely to cancel ongoing paid subscriptions or uninstall an app,” it said.

Users with Wi-Fi also tend to exhibit a greater drop in app session length of 38% during the average 11% of time that the Wi-Fi signal is poor.

The importance of this data is crucial to countries like the Philippines, whose citizens partake in heavy internet usage despite inconsistent connectivity, according to Opensignal.

“With greater satisfaction, users are less likely to uninstall apps. Users, app developers, and app publishers will all benefit through improving connectivity for all,” Mr. Fogg said.

The Philippines ranked third among the countries spending the most time using the internet, as per an October 2022 report by We Are Social and Hootsuite.

Internet users aged 16-64 years old in the country spend an average of nine hours and 39 minutes per day, it found.

Opensignal added that video players, lifestyle, and navigation apps see the largest drops in app session length, with more apps also being uninstalled on day one when there is poor connectivity. — Brontë H. Lacsamana

Vivant Corp. to hold annual stockholders’ meeting virtually on June 15

 


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SOCResources, Inc. to conduct annual meeting of stockholders on June 16

 


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Banks equipped vs cyberattacks despite increase in fraud, phishing

PHILSTAR FILE PHOTO

PHILIPPINE BANKS are better equipped to manage cyberattacks compared to lenders in other Southeast Asian countries, even with phishing and fraud incidents on the rise.

“Philippine banks have a better ability to manage these cyberattacks compared to other ASEAN (Association of Southeast Asian Nations) countries,” Mastercard Philippines Country Manager Simon A. Calasanz said in an interview with BusinessWorld last week.

Mr. Calasanz said this was based on a Mastercard external assessment.

He said this is thanks to proactive regulators, with the Bangko Sentral ng Pilipinas issuing circulars to solve issues quickly, partnering with industry groups, and implementing new technologies against cyber threats as soon as they are available.

Private banks are also playing their part in improving cybersecurity in the financial sector through keeping their backend systems constantly updated and educating both customers and their personnel, Mr. Calasanz added.

“I can’t comment specifically on their budget, but I can see that, top of mind, it’s definitely a concern of all the banks. When I have discussions with either their senior leaders or the presidents of the banks, they do mention that cybersecurity is paramount in terms of ensuring that their defenses are ready to handle these kinds of attacks,” he said.

However, he noted that the country sees a large amount of cyberattacks, especially fraud.

Citing a TransUnion report, he said that fraud, both physical and online, has increased by about 80% since 2019.

To address this, Mr. Calasanz said that customer literacy is key towards improving cybersecurity.

“Customer education is also very important because when we look at fraud, we’re all digitally connected, in which case we’re only as strong as our weakest link,” he said.

He noted that both regulators and private banks regularly alert the public about emerging cyberattack trends.

“That’s something that you already see some of the banks doing. They send regular reminders either through e-mail or SMS. That they’re not just doing it at an account opening. They’re already doing regular reminders,” he said.

Mr. Calasanz also urged banks to keep their backend systems updated, as cybercriminals are also keeping up with the latest technologies and are evolving.

“By its very nature, where we see the transactions go, that is likely where fraudsters will also try to go, and as technology evolves, they will also evolve. The good thing is technology also helps us,” he said. — A.M.C. Sy

SM Prime prepares to open its first mall in Bataan province

SY-LED SM Prime Holdings, Inc. is set to open its first mall in Bataan province, the 83rd mall property within the company’s portfolio, it said on Wednesday.

“Bataan has been a popular destination among local and foreign tourists for its wonderful mix of historical, natural, and educational sites,” SM Prime President Jeffrey C. Lim said in a statement.

“We are very excited to open our new mall, SM City Bataan, in the province as we aim to add color to its rich culture and further spur economic activities that are set to provide significant growth opportunities, convenience, and entertainment to everyone,” Mr. Lim added.

The new mall in Balanga City will add about 46,000 square meters of gross floor area to the company’s mall portfolio. It will offer two floors of shopping, dining and entertainment options.

SM City Bataan is planned to open with about 90% of its space lease-awarded and will house a food court, Cyberzone, event center, cinemas, parking zones, and transport terminal complex.

“SM Cinema will offer three regular cinemas and two private cinemas for an immersive experience, while its parking zones will provide more than a thousand vehicle slots for added convenience,” the company said.

The company said that several retail shops and services will also be offered in the property, namely: Surplus, Crocs, Pet Express, Miniso, Sports Central, China bank, and BDO outlets.

“We expect further growth opportunities for the province and its people with more infrastructure projects waiting to be completed in Bataan,” Mr. Lim.

The new mall will be the 83rd mall in SM Prime’s local properties. Once opened, the company will have 59 malls within the provinces and 24 malls in Metro Manila.

“SM City Bataan is expected to provide unique malling experiences as it opens with alfresco dining areas, work pods, a pet park, bike-friendly facilities, electric car vehicle station, and other scenic spots that will capture locals’ hearts and supply them with world-class destination, products, and services that will add delight to their everyday lives,” it added.

On Wednesday, SM Prime shares went up by 1.65% or P0.55 to P34 apiece. — Adrian H. Halili

Salman Rushdie warns of threat to freedom of expression in West

LONDON — Novelist Salman Rushdie has warned that countries in the West face the most severe threats to freedom of expression and freedom to publish in his lifetime, speaking nine months after a man repeatedly stabbed him onstage in New York.

Mr. Rushdie, 75, was awarded the Freedom to Publish award by The British Book Awards on Monday.

“We live in a moment, I think, at which freedom of expression, freedom to publish has not in my lifetime been under such threat in the countries of the West,” Mr. Rushdie said in a video message from New York broadcast to the award ceremony.

“The freedom to publish, of course, is also the freedom to read and the freedom to write, the ability to write what you want … to be able to choose what you want to read and not have it decided for you externally.”

An attack onstage in August 2022, during a lecture in New York state left the Indian-born British author blind in one eye and affected the use of one of his hands.

Mr. Rushdie has long faced death threats linked to his fourth novel, The Satanic Verses, which was banned in many countries with large Muslim populations upon its 1988 publication over passages deemed to be blasphemous.

Mr. Rushdie, who spent years in hiding after Iran’s supreme leader at the time pronounced a fatwa, or religious edict, calling upon Muslims to kill him, also referred to the banning of certain books in some US school libraries and classrooms.

“In the countries in the West, until recently, there was a fair measure of freedom in the area of publishing. Now I am sitting here in the United States, I have to look at the extraordinary attack on libraries, and books for children in schools,” he said.

“The attack on the idea of libraries themselves. It is quite remarkably alarming, and we need to be very aware of it, and to fight against it very hard.”

More than a thousand book titles, many addressing racism and LGBTQ issues, have been banned from US classrooms and libraries in the past two years amid pressure from conservative parents and officials, the writers’ organization PEN America has said. — Reuters

RFM Corp. to conduct annual stockholders’ meeting virtually on June 14

 


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POCO launches flagship F5 smartphones in PHL

TRUSTPAIR.COM

SMARTPHONE brand POCO launched its new flagship phones in the Philippines, the F5 and F5 Pro 5G.

“What sets us apart is a lot of smartphones in this segment will really focus on one specific category. Right now, it’s camera. We wanted to make [the F5 Series] an all rounder,” Angus Kai Ho Ng, head of product marketing at POCO Global, said during the launch event last week.

The official said the POCO F5 Series of smartphones offers great performance for value, adding that the company aims recreate and popularize affordable flagship devices.

“There’s no one better than us,” Mr. Ng said.

He said the main challenge for POCO is the presence of competitor brands with aggressive pricing in the same e-commerce channels they are on.

“We are not trying to go for a premium feel. In terms of branding, we’re more down to earth and we want to be closer to our users,” Mr. Ng said. “Luxury is the last thing we want to be.”

“We want to do something and make change for the industry in tech — directly straightforward, product driven, and build an emotional connection with users.”

The Pro model of the F Series returns after two years, with the last Pro phone being the F2 Pro.

The F5 Pro is powered by a Snapdragon 8+ Gen 1 processor and a 5,160mAh battery that supports 67-watt turbo charging technology.

It has a WQHD+ 120Hz AMOLED display at 1,400 nits peak brightness that can display 68 billion true-to-life colors.

The F5 Pro can shoot videos in 8K resolution. It has optical and electronic image stabilization.

Meanwhile, the F5 is the first smartphone to feature the Snapdragon 7+ Gen 2 processor in the global market, POCO said.

The F5 has a cooling system, the LiquidCool Technology 2.0 Vapor Chamber, that absorbs and dissipates heat generated while playing processor-intensive games.

Mr. Ng noted that the cooling system of the F Series sets these phones apart from competitors.

The POCO F5 features a 120Hz Flow AMOLED DotDisplay with 1920Hz PWM (pulse-width modulation) dimming and SGS-certified Low Blue Light Ex eye care technology.

It supports 4K resolution in video capture with a 64-megapixel main camera.

The recommended retail price for the POCO F5 Pro is from P26,999 to P30,999, depending on the storage and memory options, while the F5 is priced from P20,999 to P22,999.

Both phones can support 8GB and 12GB of RAM with 256GB of internal storage, while the F5 Pro can be availed of with 512GB of storage, the first in the POCO F series. — Miguel Hanz L. Antivola

Smart, BlockchainSpace tie up for the further adoption of Web3

Smart Communications, Inc. has partnered with Web3 solutions provider BlockchainSpace for the adoption of Web3-powered solutions in the Philippines.

“Filipinos have been at the forefront of utilizing Web3 since the peak of the pandemic. With millions already owning crypto wallets and participating in GameFi, the Philippines has consistently been one of the leaders of Web3 adoption in Southeast Asia,” said Peter Ing, chief executive officer of BlockchainSpace, in a press conference on Wednesday.

“Web3 is the next step of the internet. The first version of the internet was Web1, it was a read-only internet, then Web2 was the read-and-write internet where we saw social media interaction, and Web3 is about ownership of the internet, so read, write, and own,” said Michael Justine S. Sañez, global head of marketing at BlockchainSpace.

Under the partnership, the two entities will be working on two programs — Guild Partner Program and Creators Circle — that aim to empower those within the creator economy.

“These are the initial use cases that we are seeing right now but we will see more use cases beyond that as blockchain will become an underlying technology for other things and other verticals,” said Lloyd Dennis R. Manaloto, first vice-president and head of prepaid, content, and business development at Smart.

Mr. Manaloto said that Smart will serve as the connectivity partner and the initial source of endorsers for the two programs.

“Smart is there to provide internet connectivity, and because we’re mobile it allows Web3 to be done anywhere in the Philippines, at least where we have coverage,” he said.

“We have a lot of endorsers, and we also have fan groups of those endorsers, so for us, right now, it’s more of a marketing tool to engage our own base who are following our creators or those who are attached to us,” he added.

Mr. Sañez said that they are seeing more opportunities for Web3 adoption in the Philippines.

“There is a very high adoption rate in the Philippines. CoinGecko consistently ranked the Philippines number one when it comes to Web3 gaming adoption. And in terms of wallets, we comprise 17%-20% of all wallets of meta mass around the world,” he said.

“Right now, we started with the two programs and from there we will continue to look. We will continue to look at all the feedback that we are going to get, we will continue to look at all the people that want to make partners, and see how it naturally evolves,” he added.

“Being the connectivity partner, we are going to be looking at different verticals. Blockchain technology is not just cryptocurrency or NFT, it could power a lot of things from supply chain to programs on applications,” Mr. Manaloto said.

Smart is the wireless unit of PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Justine Irish D. Tabile

Ed Sheeran beats second copyright lawsuit over ‘Thinking Out Loud’

Ed Sheeran — REUTERS

British singer-songwriter Ed Sheeran on Tuesday defeated a second copyright lawsuit in federal court in Manhattan over similarities between his hit “Thinking Out Loud” and Marvin Gaye’s “Let’s Get It On.”

US District Judge Louis Stanton dismissed the case brought by Structured Asset Sales LLC, ruling that the parts of “Let’s Get It On” Mr. Sheeran was accused of infringing were too common for copyright protection.

Mr. Sheeran won a separate jury trial over the songs in the same court earlier this month.

Mr. Stanton presided over both cases, which concerned co-writer Ed Townsend’s share of Gaye’s 1973 classic. Mr. Townsend’s heirs failed to convince jurors that Mr. Sheeran infringed their part of Mr. Townsend’s copyright in the song.

Structured Asset Sales is owned by investment banker and Bowie Bonds creator David Pullman, and it owns part of Townsend’s interest in “Let’s Get It On.” It sued Mr. Sheeran, his label Warner Music Group and his music publisher Sony Music Publishing in 2018 after Mr. Townsend’s heirs filed their lawsuit.

Mr. Stanton on Wednesday found that the combination of chord progression and harmonic rhythm in Gaye’s song was a “basic musical building block” that was too common to merit copyright protection.

Mr. Sheeran’s attorney Ilene Farkas called the decision “an important victory not only for Ed” and collaborator Amy Wadge, “but for all songwriters and consumers of music.”

Structured Asset Sales has filed another lawsuit against Mr. Sheeran based on its rights to Marvin Gaye’s recording, which is still pending.

Mr. Pullman told Reuters that the jury in that case will get to hear the recording of “Let’s Get It On,” as opposed to the computerized rendition of the song’s sheet music from the Townsend trial.

“Their biggest fear, in terms of everything they’ve filed, has been to prevent the sound recording from coming in,” Mr. Pullman said. — Reuters

China monitors capital flows as online brokers pull down apps

CHINA is taking a tougher stance on capital flows out of the country as the nation’s two leading cross-border online brokerages decided to remove their trading platforms from app stores in the mainland.

Futu Holdings Ltd. and Up Fintech Holding Ltd., also known as Tiger Brokers, said Tuesday that the move was to comply with the Chinese securities regulator’s requirements on cross-border brokerage businesses. Futu’s app Futubull will be removed Friday, and Tiger Brokers’ app will be taken off on Thursday.

Existing clients in mainland China can continue to use the apps to make trades, and users outside of the country won’t be affected, the brokers said. Futu and Up Fintech have been operating in a gray area for their mainland China businesses, allowing millions of local investors to evade capital controls to trade shares in markets such as Hong Kong and New York.

China has increased scrutiny of operations that could risk financial stability and national security in recent months, especially as relations with the US worsened and demand rose among mainlanders to move wealth offshore as China reopened from Covid zero. Lines at Hong Kong bank branches had hours-long waiting times in early May during the Golden Week holiday, as tourists from the mainland tried to open an account in the region.

“The actions on Futu and Tiger Brokers clearly show China’s grand agenda remains focused on financial security,” said Robert Lee, a Hong Kong lawmaker representing the financial services sector. “As long as one complies with the rule, it is still permitted to get Chinese clients.”

Beijing has also recently tried to rein in expert network consultancies operating in the country, ensnaring companies like Capvision Pro Corp. which Chinese state media has accused of leaking state secrets.

Chinese regulators asked Futu and Tiger Brokers in late 2022 to rectify “illegal” business activities and stop taking new onshore investors, saying the companies had over the years conducted cross-border securities trading business without approval from the China Securities Regulatory Commission. It followed similar criticism from a senior central bank official, who had questioned the legitimacy of online trading firms, calling their services “illegal” at least twice since 2021.

The criticism had prompted the companies to shift their focus away from the domestic market, with Tiger Brokers resorting to job cuts and Futu eyeing overseas markets to diversify its growth. Futu also abruptly postponed its Hong Kong listing less than a day before its scheduled debut last year.

“The move is in line with the regulatory stance from late last year and early this year, and is part of the rectification progress as we see the measures being implemented,” said May Zhao, head of equity research at Zhongtai Financial International Ltd. “It’s not a total surprise.”

The brokerages’ mainland China client base is expected to remain intact despite removal of the apps, analysts at Citigroup Inc. led by Judy Zhang wrote in a note. They cited the case when Didi was taken off mainland app stores in 2021, saying it managed to retain a majority of its customers due to lack of high quality alternatives.

Futu shares closed 4.4% lower in New York Tuesday, while shares of Up Fintech dropped 7.4%, with both recouping some earlier losses.

Mainland customers accounted for about 10% of Futu’s new users last year, according to an earlier estimate by Daiwa Capital Markets Hong Kong Ltd. Up Fintech had over 20% of its new funded accounts from mainland China in the third quarter last year, according to its Chairman Wu Tianhua. — Bloomberg

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