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EntertainmentNews (04/11/23)

K-pop acts coming soon to Araneta City

TOP Asian acts are coming to Smart Araneta Coliseum and New Frontier Theater in Araneta City, Quezon City. There will be back-to-back-to-back K-pop performances from April to June, starting on April 11 as The Boyz, Aespa and Taeyeon take to the stage for K-Verse at the Big Dome. Another Korean celebrity is also coming to the New Frontier Theater to meet his fans: Kim Mingue, who rose to stardom after his role on The Heavenly Idol. He is meeting his Pinoy fans at the Heavenly Moment: Kim Mingue 1st Fanmeet in Manila on April 14. Meanwhile, EXO-SC, the sub-unit of EXO composed of Sehun and Chanyeol, is coming to Manila for the Back to Back Fancon Tour. It will be held on May 20 at the Smart Araneta Coliseum. Lastly, it’s The Prom Queens: IVE The First Fan Concert on June 17 at the Smart Araneta Coliseum. For more information about these events, visit the Ticketnet website at ticketnet.com.ph.

BGC’s Pet Huddle is back

THE FOURTH Pet Huddle will be held on April 15 and 16 at Fifth Avenue at Bonifacio High Street. The event, which started in 2021, is in partnership with pet apparel line Hey Pacey. There will be 50 merchants participating this year. Several activities are planned for the pets, including a Pet Parade, a Pet Blessing, and a Pawject Runway. This year’s Pet Huddle has merchants ranging from Chuyo Paws, Nini & Co, to Barktown for dressing up one’s best furry friends. There are also pet food brands in the event like Pupsicles, Kyuubites, and Moonies Town; among others. Other participating brands include Moondison’s Collections, Kott’s, and Labsky Pet Supplies. Pet Huddle will be open from 9:30 a.m. to 9:30 p.m. For more information follow BGC’s Facebook (facebook.com/bonifacioglobalcityph/) and Instagram (@bonifacioglobalcity). 

Spider-man: Across The Spider-Verse out on May 31

MILES Morales returns for the next Spider-Man movie, Spider-Man: Across the Spider-Verse, out in cinemas starting May 31. After reuniting with Gwen Stacy, Spider-Man encounters a team of Spider-People charged with protecting the Multiverse. But when the heroes clash on how to handle a new threat, Miles finds himself pitted against the other Spiders and must redefine what it means to be a hero so he can save the people he loves most. Directed by Joaquim Dos Santos, Kemp Powers, and Justin K. Thompson, the film’s cast is led by Shameik Moore and Hailee Steinfeld, Jake Johnson, Issa Rae, Daniel Kaluuya, Jason Schwartzman, Brian Tyree Henry, Luna Lauren Velez, Greta Lee, Rachel Dratch, Jorma Taccone, Shea Whigham and Oscar Isaac.

Warner Bros. Discovery marks 100th year across Asia

WARNER Bros. Discovery marked the 100th anniversary of the Warner Bros. Studios on April 4. This milestone birthday is being celebrated across the Asia -Pacific through special programming and content, as well as exclusive products and live events. These include the concert Candlelight: 100 Years of Warner Bros., which brings to life score tracks from some of the studio’s most celebrated films and TV series, like Friends, A Star is Born, and The Wizard of Oz; among others. About 100 commemorative candlelight concerts are planned in cities worldwide, including in Singapore (April 19 and May 8 at CHIJMES Hall).  Warner Bros. Discovery has also unveiled its collection of global products, content, and experiences honoring Warner Bros. Studio’s 100th anniversary. The commemorative offerings include toys, apparel, collectibles, concerts and more, featuring movies like Casablanca and well-loved characters from Looney Tunes to DC.  Some of these are Popmart’s blind box figures and Tom & Jerry mashup toys from Soap Studio, as well as Skechers lines in Singapore, Malaysia, Thailand, and Vietnam. In Hong Kong and Taiwan, Rhinoshield has created mobile phone cases with WB100 designs incorporating Looney Tunes, Tom & Jerry, Batman, Scooby-Doo, Friends, and The Flintstones. In Thailand, shoppers can look out for WB100 apparel from CPS CHAPS and DOSH, plus a cosmetic collection from Archita. A wide range of stationery, gifts, novelties, and houseware will be available from VS and Moshi Moshi throughout the year. In Vietnam, local streetwear brand BOO will launch a Looney Tunes x WB100 collection. In Japan, a special BE@RBRICK collection of Tom & Jerry figures dressed in Hogwarts house-robes from the Wizarding World will be available globally this August from MEDICOM TOY. The special Tom and Jerry figures come in three different sizes — 100%, 400% and 1,000% scale set. Smartphone accessories provider ray-out will launch a range of products including rings and cases featuring the Warner Bros. shield. Small Planet is launching a collection of Tom & Jerry mashups dressed in DC Superhero costumes including pouches, bags and socks. For more information on Warner Bros.’ 100th anniversary, visit WB100.com.   

Metal band Dream Theater coming to PHL

PROGRESSIVE metal band Dream Theater will bring its Top of the World Tour to the Smart Araneta Coliseum in Cubao, Quezon City on May 4, 8 p.m. Dream Theater is comprised of James LaBrie, John Petrucci, Jordan Rudess, John Myung, and Mike Mangini. The band’s sold-out world tour for Distance Over Time, and the 20th anniversary of Scenes From A Memory was halted by the pandemic. The band released an album recorded during the pandemic, A View From The Top Of The World. Presented by Ovation Productions, tickets to the concert are available at ticketnet.com.ph. Tickets range in price from P2,750 to P7,250. For more details and updates, visit ovationproductionsmanila.com or facebook.com/ovationproductions/.   

T-bill, bond yields may decline as inflation eases

BW FILE PHOTO

RATES of Treasury bills (T-bills) and Treasury bonds (T-bonds) on offer this week may ease after the release of data showing better-than-expected headline inflation in March.

The Bureau of the Treasury (BTr) will auction off P15 billion in T-bills on Tuesday, made up of P5 billion each in 91-, 182-, and 364-day papers.

On Wednesday, it will offer P25 billion in reissued 10-year T-bonds that have a remaining life of nine years and five months.

Rates for T-bills could move sideways this week, while the T-bond yields could ease, tracking secondary market movements after the release of March consumer price index (CPI) data, a trader said in a Viber message.

The reissued bonds on offer this week could fetch rates from 6.05% to 6.15%, the trader said.

“Treasury bill yields could slightly ease again, after the slightly week-on-week declines in the comparable short-term PHP BVAL (Bloomberg Valuation Service) yields,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.

“The upcoming nine-year Treasury bond auction yield could be similar to the comparable nine-year PHP BVAL yield at 6.14% as of April 5, 2023, lower week on week by -0.05,” Mr. Ricafort added.

Union Bank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said in a report that the T-bonds to be auctioned off this week could be quoted at 6% to 6.15%.

At the secondary market on Friday, the yield on the 91-day T-bill went up by 9.78 basis points (bps) week on week to end at 5.1479%, while the 182-, and 364-day T-bills fell by 3.60 bps and 3.43 bps to fetch 5.6411%, and 5.9944%, respectively, based on the PHP BVAL Reference Rates data published on the Philippine Dealing System’s website.

Meanwhile, the 10-year bond’s yield dropped by 16.75 bps week on week to 6.048%.

Philippine headline inflation in March eased to its slowest in six months amid lower prices of food and transport, the statistics agency said last week.

Preliminary data from the Philippine Statistics Authority showed annual headline inflation eased to 7.6% from 8.6% in February. However, this was faster than the 4% print a year ago.

March inflation was the slowest since the 6.9% print in September 2022. This was also below than the 8.1% median in a BusinessWorld poll of analysts.

For the first quarter, the CPI averaged 8.3%, higher than the Bangko Sentral ng Pilipinas’ 6% forecast and the 2-4% target for the year.   

Last week, the Treasury raised just P12.8 billion from its offer of T-bills, below the P15-billion program, even as total bids reached P34.19 billion.

Broken down, the Treasury made a full P5-billion award of the 91-day T-bills as tenders for the tenor totaled P13.94 billion. The average rate of the three-month paper went down by 10.40 bps to 5.045%, with accepted rates ranging from 5.03% to 5.06%.

The BTr likewise raised P5 billion as planned from the 364-day debt papers as bids stood at P9.815 billion. The average rate of the one-year paper went down by 1 bp to 5.977%. Accepted yields were from 5.43% to 6%.

Meanwhile, the government borrowed just P2.8 billion via the 182-day securities, lower than the P5-billion plan, despite demand for the tenor reaching P10.435 billion. The six-month T-bill was quoted at an average rate of 5.674%, inching down by 0.3 bp, with accepted rates ranging from 5.668% to 5.68%.

On the other hand, the reissued 10-year T-bonds to be auctioned off on Wednesday were last offered on March 7, where the government raised P25 billion as planned. The bonds fetched an average rate of 6.378%, with accepted rates at 6.223% to 6.410%.

The Treasury wants to raise P160 billion from the domestic market this month, or P60 billion via T-bills and P100 billion via T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at 6.1% of gross domestic product this year. — Aaron Michael C. Sy

Axelum Resources Corp. issues notice on proposed amendments to articles of incorporation

 

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Singapore-based Vena Energy eyes expansion projects in PHL

SINGAPORE-based Vena Energy plans to launch more renewable energy projects in the Philippines with a combined capacity of 500 megawatts (MW) within the next three years, a company official said.

“We want to do 300 to 500 MW of projects every year for the next couple of years, and we do believe that given the number of projects which the Philippines need, especially from RE (renewable energy), together with partners, we can go on and execute that,”  Samrinder Nehria, head of Vena Energy Philippines, told reporters on March 30.

“It is all about how much demand is there in the market. At least for the next two or three years, 300 to 500 MW,” he added.

He said that such projects will involve different types of renewable energy sources, including solar, wind, and floating solar.

To date, Vena Energy has around 330 MW of operating renewable energy projects in the Philippines.

On March 30, Vena Energy together with MGen Renewable Energy, Inc. (MGreen) inaugurated the 68-megawatt-alternating current (MWac) solar plant project in Ilocos Norte.

Mr. Nehria  said his company is also exploring potential partnerships beyond Manila Electric Co. (Meralco).

“Yes, we do have more projects in the pipeline and you will hear about them,” he said.

MGreen is the renewable energy subsidiary of Meralco PowerGen Corp., the power generation arm of Meralco.

Vena Energy is also keen to participate in the second round of the green energy auction program (GEAP), which is set for June.

“Yes, we evaluate all options. GEAP is one of those. We are looking and evaluating the green energy auction program as well and we’ll see. It is a good opportunity for developers to go,” he said.

The Energy department has announced that it is set to conduct the second round of GEAP in June with 11,600 MW in capacity on offer.

Headquartered in Singapore, Vena Energy is a renewable energy company that owns, develops, constructs, operates, manages, and commercializes a renewable energy portfolio. — Ashley Erika O. Jose

Study finds diversity stunted in theatrical film roles but better in streaming

BEST Actress Oscar winner Michelle Yeoh in Everything Everywhere All at Once

DESPITE the Oscars triumph of Asian-led film Everything Everywhere All at Once, the diversity of leading roles in 2022’s theatrical films slid to pre-pandemic levels, UCLA researchers found in a study released on Thursday.

The annual UCLA Hollywood Diversity Report looked at 88 films released in cinemas last year and found that 21.6% of lead roles were filled by minorities.

That was down from 27.6% in 2019 before the COVID-19 pandemic shuttered theaters and upended the movie business.

“In an era of economic uncertainty intensified by the pandemic, studios pushed for theatrical ‘surefire hits’ that relied on nostalgia and previous intellectual property,” said the report by the University of California, Los Angeles (UCLA).

“Instead of forging ahead with more inclusivity and new narratives, studios seemed to limit their theatrical offerings in 2022, which also limited the opportunities for certain filmmakers,” they added.

Hit films with diverse casts last year included Black Panther: Wakanda Forever and Everything Everywhere All at Once, which won the Academy Award for best picture.

Streaming was a slightly more level playing ground for people of color. More than 33% of lead actors in 99 streaming films were minorities, the researchers said.

Minorities were defined as people who were Black, Latino, Asian, multi-ethnicity, Native American or Middle Eastern that account for 43.1% of the United States in 2022.

Additionally, the interest in streaming films about women of color increased. The UCLA study noted that the two films streamed the most in 2022 were Turning Red and Encanto, which are both animated films about girls of color.

However, white men still hold the greatest authority over large industry projects and make up 73% of film directors for theatrical releases.

Progress remains most accessible to able-bodied people in Hollywood, the study found.

While around a quarter of adults in the United States have a disability, actors with disabilities consisted of roughly 9% of lead roles in theatrical films and 6% in streaming films, the researchers said. — Reuters

Electronic wallet downloads slowing, study shows

CLAY BANKS-UNSPLASH

THE GROWTH in downloads of electronic wallets (e-wallets) slowed in 2022, with active users declining, according to a study by consumer finance company Digido.

Fourteen e-wallets in the Philippines had a combined total of 114.4 million downloads in 2022, which represented 20% of downloads from Business and Finance categories across all devices and platforms, the study released on Monday showed.

This was a 30.5% or 26.7-million increase from 2021, and a 632% or an over 99-million increase from 2018.

“In this regard, the market generally continues to grow by about 4.3% per month. However, after the explosive growth in 2020 and 2021, the downloads are gradually starting to decline in 2022,” Digido said.

“This is likely due to the growing competition from digital banks, setting the course towards ecosystems. Another factor could be the intra-market competition and segmentation, in which the lion’s share of the market is taken over by a small number of wallets, leaving the remaining competitors with virtually nothing,” it said.

Digido said the e-wallets included in its study were CIS Bayad Center, Coins.ph, eCebuana, GCash, Juan Cash, Lazada Wallet, Mango, MarCo Pay, Maya, Moneygment, PayLoro, Star Pay, Tagcash and Toktokwallet.

The e-wallets studied have both electronic money issuer and operator of payment system licenses from the central bank, or are operated in partnership with a company with these licenses.

The study showed that there were 58 million active e-wallet application users as of end-2022, or those who logged into the app at least once in the last 30 days, declining by 8% or five million from the active user base in 2021.

Still, the active user base of e-wallet apps grew 466% from 2018.

“This figure is comparable to 72% of the population aged 15+, according to UN (United Nations) estimates (e-wallet penetration rate). Considering that one person can use several applications at the same time, we assume that every second Filipino aged 15+ definitely uses at least one e-wallet,” Digido said.

“The main increase in activity took place in 2020 and 2021. During this period, user activity increased by 187% or 41.1 million people, likely caused by the COVID-19 pandemic, which simply forced the population to use the services of this kind,” it added.

Meanwhile, e-wallet users visited at least one of the mobile apps included the study at an average of 16 times per month last year, steady from 2021.

However, this was lower than the 17 average visits recorded in 2020 and the 19 visits in 2019.

“In 2022 alone, 58 million users accounted for about 16 billion seconds, which is equivalent to 4.4 million hours or 505 years. This figure is 16% more than a year earlier, which is telling of an increasingly loyal audience of customers. This is evident because the growth in both the total number of unique downloads and the total number of active customers has decreased over the year, but the amount of time spent in applications has increased,” Digido said.

The company said the total number of active users of the 14 e-wallets could reach 81 million people by 2025.

“There are three main reasons for growth. First, there is a natural limit in the form of the population of the Philippines aged 15+, which, according to UN estimates, will be 85.4 million people by the end of 2025. Secondly, despite the global recession, the current economy of the country is in its growth stage… Thirdly, the global demand for electronic money is growing,” Digido added.

The company is part of the Singapore-headquartered Robocash Group. Services under the Digido platform are financed by Digido Finance Corp. — AMCS

Hotels, resorts bounce back as tourists flock to key destinations

TOURISTS pose for photos at the port in Boracay, Aklan Province, April 3. Thousands of tourists flocked to the beach island for the Holy Week break. — PHILIPPINE STAR/MIGUEL DE GUZMAN

By Revin Mikhael D. Ochave, Reporter

TOURISM stakeholders are increasingly optimistic of recovery this year, as many hotels and resorts reported high occupancy during the Holy Week break.

Roberto Z. Zozobrado, Tourism Congress of the Philippines (TCP) president, said an increase in tourist volume was observed in top destinations such as Boracay, Mactan in Cebu, Siargao, Bohol and Palawan.

“All the hotels are full, especially the hotels in the popular destinations. They’re full and they’re charging high because they know it is peak (season) and that’s the only time they can recover. We’re very happy with what’s happening,” he told BusinessWorld in a mobile phone interview.

Benito C. Bengzon, Jr., Philippine Hotel Owners Association, Inc. (PHOA) executive director, expressed optimism that domestic tourism will bounce back during the summer months.

He told BusinessWorld via Viber message that some of its member hotels in Metro Manila have already returned to pre-pandemic levels in terms of occupancy and average daily revenue.

“We at the PHOA, are optimistic that domestic tourists will travel in much larger numbers this summer season. Many city hotels have reported that revenue and occupancy in the last few months have returned to pre-pandemic levels. Meanwhile, resorts are likewise enjoying high occupancy especially with the long weekend,” Mr. Bengzon said.

For TCP, Mr. Zozobrado said they expect full recovery of domestic tourism later this year or by early next year. This is similar to the projection made by the Department of Tourism (DoT).

“We are very optimistic and very happy that tourism has rebounded so fast… The United Nations World Tourism Organization forecasts that recovery will be in 2025 but we don’t think so. We think it’s going to be earlier, especially here in the Philippines,” he said.

Mr. Zozobrado said international tourism is likely to return to pre-pandemic levels by this year or early next year.

John Paolo R. Rivera, Asian Institute of Management – Dr. Andrew L. Tan Center for Tourism associate director, said in a Viber message the tourism sector is expected to have a “strong recovery” this year.

“I think people are not afraid of coronavirus disease 2019 (COVID-19) anymore as it has been managed already and herd immunity has set in. There will be a strong recovery of the tourism and hospitality sector this year, especially this summer, as things have started to normalize and the economy opens much further,” he said.

Mr. Rivera said domestic tourism has always been a key driver of growth.   

He noted the dry season is a good time for local tourism businesses to generate more income.

“It is the time where our sun-sand-sea destinations are in demand, generating revenue opportunities for many tourism enterprises. It is an opportune time for everyone to maximize the benefits from Philippine tourism. It is also a good reminder that we need to make it sustainable through responsible tourism activities,” Mr. Rivera said. 

PHOA’s Mr. Bengzon also urged tourism stakeholders to continue observing minimum public health standards amid the surge in tourist volume.

DoT figures showed that the Philippines had 2.65 million international visitor arrivals in 2022.

For this year, the DoT is targeting 4.8 million international visitors, still far from the 8.26 million international arrivals logged in 2019.   

The Philippine tourism sector accounted for over 5% of the country’s gross domestic product in 2021, according to the Philippine Statistics Authority.

LT Group, Inc. to conduct annual stockholders’ meeting through remote communication on May 3

 

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Kaya Founders may invest in 2 startups on sustainability

EARLY-stage investment company Kaya Founders is planning to invest in two businesses associated with sustainability, its partner said.

“For Kaya Founders, we are looking into a few startups now that are doing sustainability-related business,” Lisa Gokongwei-Cheng, senior vice-president for digital transformation and corporate services of JG Summit Holdings, Inc., told BusinessWorld on March 28.

“We are looking at two startups that are doing sustainability,” added Ms. Gokongwei-Cheng, a partner at Kaya Founders.

She did not disclose the details of the transaction since the agreements had not yet been finalized.

When asked how the two new startups are expected to help the JG Summit group, she said: “One of the key pillars of the JG Summit is sustainability. More and more conglomerates are being held accountable to sustainability and I think it’s already part of the law.”

JG Summit, through JG Digital Equity Ventures, Inc. (JGDEV), has invested in several startups such as Locad, SariSuki, eTaily, Darwinbox, iPrice, Tyme, GrowSari, Zuzu Hospitality, Zyllem, and Snapcart.
“For JGDEV, we look for businesses that are adjacent to the business like GrowSari has adjacency to the Robinsons Retail, so that’s why we invested in it. Then for GoTyme, is a big opportunity for us because we feel that we want to get into digital banking,” Ms. Gokongwei-Cheng said.

She said that these startups could benefit the Gokongwei group in the future, drawing attention to how GrowSari had increased the sales volume of Robinsons Retail Holdings, Inc.

“For example, GrowSari is partnered with Robinsons Retail. What it does is it is a digital platform that supplies goods to sari sari stores. In the beginning, it didn’t have volumes to get discounts from suppliers, but because it was connected to the Gokongwei group, it was able to access the scale and the volume of Robinsons Retail so they were able to get goods at a cheaper value. And at the same time as they grew, Robinsons was able to benefit from the volumes of GrowSari,” Ms. Gokongwei-Cheng said.

“I would think that JG Summit is very invested in the future of the country, and for as long as we remain as investors in the country, we would definitely invest in startups,” she added. — Justine Irish D. Tabile

New Johnny Depp movie will open Cannes Film Festival

JOHNNY DEPP in Jeanne du Barry (2023)

JOHNNY Depp’s first live-action film since the widely watched defamation trial against ex-wife Amber Heard was selected as the opening movie for next month’s Cannes Film Festival in France, organizers said on Wednesday.

The French-language film Jeanne du Barry stars director Maïwenn Le Besco, known as Maiwenn, as Jeanne Becu, a woman who rose from poverty to the circles of King Louis XV. Mr. Depp plays the king in the movie, which will have its world premiere at Cannes on May 16.

The Pirates of the Caribbean actor has made few film or TV appearances since his trial concluded in June 2022. He made surprise cameos at the MTV Video Music Awards and Rihanna’s Savage X Fenty fashion show.

Mr. Depp also voiced an animated puffin in last month’s Johnny Puff: Secret Mission. The actor is trying to rebuild his career after winning a near-total victory in his U.S. legal battle with Heard, a fellow actor who had accused him of abuse. Mr. Depp denied hitting her or any other woman.

Two years earlier, Mr. Depp lost a libel suit in Britain against the Sun tabloid, which called him a “wife beater.” A London High Court judge ruled that Mr. Depp had repeatedly assaulted Heard. He was soon dropped from Harry Potter spinoff franchise Fantastic Beasts and largely shunned by Hollywood. — Reuters

MREIT, Inc. to hold annual stockholders’ meeting virtually on June 2

 

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Yen sinks as interest rate outlook diverges; New Zealand, Australian dollars weaken

BW FILE PHOTO

TOKYO — The yen sank against major peers on Monday after US payrolls data bolstered the case for further US Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero.

Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened US-China tensions over Taiwan, with Beijing a key trading partner for the Antipodean nations.

The yen slipped by 0.4% against the US dollar to 132.70, extending its decline from Friday, when data showed the US economy continued to add jobs at a brisk pace in March.

Ten-year Treasury yields reached 3.413% in shortened trading on Friday for the Easter holiday. The yield remained elevated at 3.3719% in Tokyo on Monday, when many markets in Asia as well as Europe will remain closed.

Against the euro, the yen slumped over 0.5% to 144.635. It fell roughly 0.3% versus sterling.

The dollar strengthened against the yen because of the continued strong growth in the US labor market despite inflation and sharp interest rate rises, Mizuho analysts Masafumi Yamamoto and Masayoshi Mihara wrote in a client note.

“Yields in places like the euro area, Britain and Australia will follow US yields higher, so there won’t be a big widening of the yield gap,” they said. “Relative to them, yield spreads will see a much bigger impact in Japan.”

However, the increase in jobs was less than the prior month and the rise in average hourly wages was less than economists forecast, which the Mizuho analysts said was not consistent with a sustained rise in US yields.

Barring an upside surprise in US consumer price data on Wednesday, the dollar has limited room to rise against the yen from current levels, they added.

New Bank of Japan Governor Kazuo Ueda takes over from Haruhiko Kuroda on Monday, and is widely expected to keep massive stimulus in place for the time being. He will give an inauguration speech at 7:30 p.m. JST (1030 GMT).

Meanwhile, the New Zealand dollar slumped about 0.7% to $0.62325, and the Aussie slipped by 0.13% to $0.6665. Stock and bond markets in both countries are closed for the Easter Monday holiday.

The dollar edged 0.05% higher to 6.8784 yuan in offshore trading.

China began three days of military drills on Saturday simulating precision strikes against Taiwan, the day after Taiwan President Tsai Ing-wen returned from a brief visit to the United States.

In other currencies, sterling slipped 0.02% to $1.2410, while the euro gained 0.02% to $1.0899. — Reuters

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