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Does Beyoncé’s new summer song channel the ‘Great Resignation’?

LONDON — American pop star Beyoncé Knowles-Carter has surprised fans with an early release of her single “Break My Soul” from upcoming album Renaissance, setting social media ablaze with song lyrics that some say tap into rising worker anger at conditions.

“I’m gonna find new drive / damn, they work me so damn hard / Work by nine, then off past five /And they work my nerves, that’s why I cannot sleep at night,” sings the artist, adding “I just quit my job.”

Some commentators said the words channeled the post-pandemic “Great Resignation” in which businesses are struggling to find enough employees.

“Beyoncé saw that it was the summer of late-millennial burnout, the labor movement, ’90s revival, and queer pride and was like, ‘Yeah, I can make a song about that’,” wrote Patu Patel, editor-in-chief of music magazine Pitchfork on social media platform Twitter.

Knowles-Carter has not commented on the meaning of the lyrics.

The single was co-written by her husband Sean Carter (Jay-Z) and samples singer Robin S’s 1990s dance classic “Show Me Love” as well as featuring gay American rapper Big Freedia’s song “Explode.”

The song debuted on Tidal, the streaming service co-owned by Jay-Z, and dropped at midnight EST (5am GMT) on June 21 on other major music streaming services, with an accompanying lyric video published on YouTube.

Knowles-Carter, 40, released “Be Alive,” her Oscar-nominated contribution to the soundtrack of the movie King Richard, in November 2021. She also launched the soundtrack album The Lion King: The Gift, with the songs appearing in both the Black is King and Lion King movies in July last year.

However, Renaissance (Act 1) is the artists’ first solo studio album since Lemonade was released in April 2016. The record will include 16 tracks and is set to launch on July 29.

She is the most nominated woman and the most awarded singer in Grammy Award history, winning a total of 28 awards and 79 nominations for her music, including her work in music group Destiny’s Child and The Carters, an album co-released with her husband.

She is also the eighth-most awarded artist at the Billboard Music Awards. — Reuters

Insurers urge IC to postpone hike in capital requirement

INDUSTRY LEADERS urged the Insurance Commission (IC) anew to postpone the mandated increase in their minimum capital set for this year’s end, saying many companies are still far from meeting the higher requirement.

Philippine Insurers and Reinsurers Association (PIRA) Chairman Edgardo D. Rosario and Etiqa Philippines Chief Executive Officer (CEO) and Philippine Life Insurers Association President (PLIA) Rico T. Bautista urged the regulator to delay the increase.

“It is the industry’s view that proceeding with the P1.3-billion level would make us disproportionately overcapitalized relative to our market size, as compared with our Association of Southeast Asian Nations counterparts,” PLIA’s Mr. Bautista said during the Second Virtual Philippine Insurance Summit being held on June 23 and 24.

Insurance companies’ minimum capital requirement was increased to P900 million at the end of 2019 from P550 million and will increase further to P1.3 billion by end-2022, according to the Insurance Code.

Mr. Bautista said 12 companies or 38% of the insurance industry are at risk of being unable to meet this requirement.

Of these twelve companies, four are still about P75 million to P133 million away from meeting the P1.3-billion requirement, four have about P137 million to P198 million to go, while the other four are P275 million to P488 million short.

Mr. Bautista added that the funds to be used by insurers to meet the higher requirement could instead have been used on their digital transformation efforts.

Meanwhile, PIRA’s Mr. Rosario said he is cautiously optimistic on the outlook for the Philippine insurance sector amid lingering uncertainties in the global economy.

“It is definitely a challenge, but the thing is, the need for insurance will not go away,” he said. “We might not grow as much as we’d like to, because of price pressures and things like that.”

Mr. Rosario noted that insurance remains low in the list of needs and wants of Filipinos as the basic necessities continue to be the priority.

DECLINE IN AGENTS
Meanwhile, PLIA’s Mr. Bautista also urged the IC to increase its online testing capacity.

He said that the pandemic has caused the number of IC’s financial agent examinations to decrease, resulting in fewer new agents, and consequently, lower New Business Annual Premium Equivalent, the sales measure used for insurance companies.

“The online agent facility, as it is currently, can accommodate only 150 examinees per day,” Mr. Bautista said.

“Imagine the cost efficiency that will result to if you need not have actual IC employees proctoring online examinations, and you can multiply the number of exams you can conduct,” PLIA Data Protection Officer George C. Mina added.

The insurance industry posted growth in premiums, income and benefits paid in 2021, data from the IC showed.

Life, nonlife insurers’ and and mutual benefit associations’ total premium income was at P374.67 billion in 2021, up by 21.55% from P308.25 billion in 2020, IC data showed. — TJT

Prado dominates 2022 PhilCycling National Championships for Road

JERMYN PRADO — J. PRADO OFFICIAL FB
JERMYN PRADO — J. PRADO OFFICIAL FB

OUT to reclaim her old throne as queen of Southeast Asian (SEA) cycling, Jermyn Prado dominated the women’s criterium of the PhilCycling National Championships for Road in Tagaytay on Tuesday.

Ms. Prado, who struck gold in the 2019 SEA Games individual time trial also in Tagaytay but was dethroned in last month’s Hanoi Games, blew away the field in the race done under a points format and grabbed the gold with a full 20-point effort.

“I trained hard for the championships and I really wanted to win this one,” said the 27-year-old Ms. Prado.

Philippine Olympic Committee and PhilCycling President Abraham Tolentino himself flagged off the country’s first national championships after a two-year pandemic hiatus and witnessed Ms. Prado’s brilliance.

“Do your best and aim to become members of the national team,” said Mr. Tolentino, who was accompanied by PhilCycling secretary-general Billy Sumagui and Go for Gold chief Jeremy Go to greet the almost 600 entries.

Go for Gold’s Boots Ryan Cayubit topped the men’s side ahead of teammate Jonnel Carcueva and two-time LBC Ronda Pilipinas champion Jan Paul Morales, who wound up second and third, respectively.

Other category winners were 7-Eleven’s Rench Michael Bondoc (men’s junior Under 23), Pepito Khalil (men’s 17-18 years old), Guill Aisaiah Farin (men’s youth 16-under), Kim Bonilla (women’s juniors) and Angelica Altamirano (women’s youth).

The four-day championships is being co-presented by Standard Insurance, MVP Sports Foundation and Smart and backed by Chooks-to-Go, San Miguel Corp., Petron, Le Tour de Filipinas-Air21-One LGC, Tagaytay City, Go For Gold, Cavite’s First District, Batangas First District, Batangas and the Philippine National Police. — Joey Villar

Samsung launches M53 5G in PHL

SAMSUNG Philippines last week announced an addition to its mid-range Galaxy M Series phones available in the country, the M53 5G.

The company said the phone features improved technologies at an affordable price. The Galaxy M53 5G is available for P3,000 off for this month at just P26,990 from the original price of P29,990 on samsung.com/ph and other online platforms. The available color options are blue, green and brown.

“The new device is the creative’ best choice as it balances style with functionality, allowing them to freely express themselves,” Samsung said.

“The new Galaxy M53 5G will help creative buffs capture, curate, and convey the moments that showcase who they are, right to the smallest details,” it added.

The M53 5G is powered by an octa-core processor and 8GB of RAM. It comes with 256GB of internal storage expandable up to 1TB via microSD card.

The phone comes with a 6.7-inch Infinity-O Super AMOLED Plus display and its bezel-less design offers a wider aspect ratio. Its screen has a refresh rate of 120 Hz for less blur and vivid details and contrast.

The M53 5G features a quad-camera rear setup with a 108MP main wide-angle lens, an 8MP ultra-wide camera, and 2MP macro and depth cameras. It also has a 32MP front camera.

The smartphone has a Mic mode feature to customize sounds for your needs. Voice Focus amplifies the caller’s voice with enhanced noise cancellation, while All Sound adds ambient sounds.

It also has a 5,000mAh battery and supports fast charging.

Manila Water upgrades Balara Treatment Plant 2

Balara Treatment Plant 2 — FACEBOOK.COM/MANILAWATER

MANILA Water Co., Inc. has installed filter technology in its Balara Treatment Plant 2 (BTP 2) to reduce its chemical consumption and optimize operations, the listed water provider said on Wednesday.

The activated filter media (AFM) is a highly processed product in the form of particles with enhanced filtration features, lessening the need for additional infrastructure. These are usually composed of recycled green and amber glass. The current filtration media used at BTP 2 are composed of silica sand.

The AFM requires less backwash water and can remove iron and manganese.

“Iron and manganese cause reddish-brown and brownish-black stains that build up in pipelines and water tanks, restricting water flow and reducing water pressure. With the AFM installed, this reduces the chlorine requirement for oxidation of the said chemicals,” Manila Water Operations Group Director Arnold Jether Mortera said.

He added that with the promising results, the company’s operations team plans to scale up by applying AFM on all of BTP 2’s filter beds to improve the facility’s service.

Manila Water reported that installations for four filter beds are also ongoing. BTP 2 currently has 20 filter beds in operation.

BTP 2 is Manila Water’s primary treatment facility that serves more than 60% of the greater Metro Manila’s east zone.

Manila Water’s service coverage includes Marikina, Pasig, Taguig, Makati, San Juan, Mandaluyong, parts of Quezon City and Manila, and Rizal province.

On Wednesday, Manila Water shares rose by 0.61% or 10 centavos to close at P16.50 at the stock market. — Luisa Maria Jacinta C. Jocson

Naomi Osaka and LeBron James launch new media company

NAOMI OSAKA — REUTERS
NAOMI Osaka of Japan in action during her Quarterfinals Women’s singles match against Su Wei Hsieh of Chinese Taipei on Day 9 of the Australian Open at Melbourne Park in Melbourne, Tuesday, February 16, 2021. — AAP IMAGE/DAVE HUNT VIA REUTERS

JAPANESE tennis player Naomi Osaka is launching a new media company in partnership with four-time NBA champion LeBron James aimed at telling stories that cross cultural barriers, the former world number one announced on Tuesday.

Hana Kuma, which translates to “flower bear,” will produce stories that are “culturally specific but universal to all audiences” and already has multiple projects lined up, according to the Hollywood Reporter.

“What excites me is being able to inspire people and tell new stories, particularly ones that I would have wanted to see when I was a kid. I always wanted to kind of see someone like me,” four-times Grand Slam champion Osaka, who has a Haitian father and Japanese mother, told the New York Times.

James and Maverick Carter’s The SpringHill Company will serve as financing, operations, and producing partner for Hana Kuma, the paper said.

The production company is the latest project from the 24-year-old Osaka and her long-time agent Stuart Duguid.

The duo also has a sports agency named Evolve, which signed Australian tennis player Nick Kyrgios as the first member of their roster on Monday. — Reuters

Japan’s Kishida backs BoJ’s easy policy while yen worries mount

TOKYO — Japanese Prime Minister Fumio Kishida said on Tuesday the central bank should maintain its ultra-loose monetary policy, brushing aside opposition calls that the policy be tweaked to target Japan’s rising cost of living.

Mr. Kishida said the recent sharp falls in the yen were worrying but monetary policy and exchange rates must be dealt with separately, while fiscal policy should take the principle role in addressing the impact of rising prices.

“Under the current circumstances, the status quo on monetary policy must be maintained, although specific policy tools are up to the BoJ (Bank of Japan) to decide,” Mr. Kishida said in a debate among the leaders of Japan’s political parties, ahead of a July 10 upper house election.

“The Ministry of Finance, the Financial Services Agency and the Bank of Japan have confirmed the need for responding to currency moves appropriately if necessary. We must closely watch developments.”

The government faces mounting public concern over the rising cost of living, which has been blamed on the weak yen as well as a global surge in commodity prices due to the conflict in Ukraine.

“Some opposition parties are trying to fan public anger over price hikes and the weak yen, but Kishida likely wanted to separate himself from his opponents by backing the monetary policy status quo,” said Koya Miyamae, senior economist at SMBC Nikko Securities.

Some opposition politicians have begun referring to “Kishida inflation” while news headlines and TV programs put the spotlight on rising prices, which will likely become a contentious issue in the upcoming election. Mr. Kishida’s ruling coalition is expected to win comfortably, however, given Mr. Kishida’s solid levels of public support and disarray among the opposition.

Yuichiro Tamaki, who leads the small Democratic Party for the People (DPP), urged the BoJ to keep ultra-low rates, arguing that tightening policy was “unthinkable” because it would drive up mortgage rates and borrowing costs. But some opposition parties have called for monetary tightening to counter the weak yen.

The government, for its part, has rolled out a 2.7 trillion yen ($20-billion) extra budget aimed at easing the burden of price increases for households.

Markets are rife with speculation the BoJ might tweak its yield curve control policy and allow bond yields to rise, to prevent the yen from falling further and inflating the cost of fuel and food imports.

But the central bank voted at a regular policy meeting last week to keep its ultra-low rates in place to support the fragile economy.

This has left policy makers with few options for combating the yen’s decline other than verbal warnings.

Finance Minister Shunichi Suzuki said on Tuesday he was concerned about the yen’s recent sharp weakening and would respond to currency market moves if necessary, repeating a previous warning as the yen hovered near a 24-year low beyond 135 yen versus the dollar.

“The government will closely liaise with the Bank of Japan while watching the exchange market and its impact on the economy and prices with an even greater sense of urgency,” Mr. Suzuki said. — Reuters

PVL resets its Invitational Conference from July 2 to July 9

THE Premier Volleyball League (PVL) has reset its Invitational Conference from July 2 to 9 to allow the participating squads extra time to prepare.

“Due to requests from our members teams, the PVL has decided to move the start of the Invitational Conference 2022 from July 2 to 9,” the league said through an announcement made in its official Facebook page.

The conference, the pro league’s second of three this year, will be participated in by two Asian foreign teams in Kobe Shinwa Women’s University of Japan and the Taipei King Whales of the Taiwan Volleyball League (TVL) and seven local squads headed by reigning Reinforced Conference titlist Creamline.

Also seeing action are Petro Gazz, Cignal HD, Choco Mucho, Chery Tiggo, PLDT and Army Black Mamba.

F2 Logistics and Bali Pure have both begged off from joining the league’s mid-conference and will return in the Open Conference late this year.

Kobe Shinwa Women’s University, which topped an invitational tournament done in the country five years ago, and the Taipei King Whales, the TVL’s cream of the crop, will only fly in late August or early September as they will play in the semifinals outright.

The visiting squads will then clash with the top four among the seven local teams in a single-round robin format.

The seven homegrown clubs will fight among themselves in another single-round robin system. — Joey Villar

Microsoft stops selling emotion-reading tech, limits face recognition

OAKLAND, CA —  Microsoft Corp. on Tuesday said it would stop selling technology that guesses someone’s emotion based on a facial image and would no longer provide unfettered access to facial recognition technology.

The actions reflect efforts by leading cloud providers to rein in sensitive technologies on their own as lawmakers in the United States and Europe continue to weigh comprehensive legal limits.

Since at least last year, Microsoft has been reviewing whether emotion recognition systems are rooted in science.

“These efforts raised important questions about privacy, the lack of consensus on a definition of ‘emotions,’ and the inability to generalize the linkage between facial expression and emotional state across use cases, regions, and demographics,” Sarah Bird, principal group product manager at Microsoft’s Azure AI unit, said in a blog post.

Existing customers will have one year before losing access to artificial intelligence tools that purport to infer emotion, gender, age, smile, facial hair, hair and makeup.

Alphabet, Inc.’s Google Cloud last year embarked on a similar evaluation, first reported by Reuters. Google blocked 13 planned emotions from its tool for reading emotion and placed under review four existing ones, such as joy and sorrow. It was weighing a new system that would describe movements such as frowning and smiling, without seeking to attach them to an emotion.

Google did not immediately respond to request for comment on Tuesday.

Microsoft also said customers now must obtain approval to use its facial recognition services, which can enable people to log into websites or open locked doors through a face scan.

The company called on clients to avoid situations that infringe on privacy or in which the technology might struggle, such as identifying minors, but did not explicitly ban those uses. — Reuters

Cebu Pacific sees return to pre-pandemic work force size next year

CEBUPACIFICAIR.COM

BUDGET carrier Cebu Pacific, operated by Cebu Air, Inc., said on Wednesday that it expects its work force to revert to pre-pandemic size early next year, citing the airline industry’s sustained recovery.

“We are calling a lot of our people back. By early next year, we will be back to where we were in 2019 in terms of headcount,” Cebu Pacific President and Chief Executive Officer Lance Y. Gokongwei told reporters.

He expects the airline’s work force size to return to 4,000 next year.  The laid-off employees “will be prioritized,” he also said.

The budget carrier cut its work force by 25% in 2020 due to the impact of the global health crisis on its operations. It previously said that it expects to increase the number of its employees this year to 3,678 from 3,046 in 2021.

The company has restored 100% of its pre-pandemic domestic capacity, according to Mr. Gokongwei.

“For international, you can see that a lot of countries, especially in Southeast Asia, are opening up,” he said, adding that there will be opportunities to increase flights to some Asian destinations.

The airline has set a capital-expenditure budget of P32.8 billion for 2022, mainly for fleet replacement.

The company ended 2021 with 74 aircraft, the same as in 2020. It received six new aircraft last year.

Over the next five years, it expects to have 48 deliveries and 35 exits, ending 2026 with 87 aircraft.

The airline saw its attributable net loss for the first three months of the year widen to P7.61 billion from a loss of P7.30 billion in the same period a year earlier.

The company’s revenues for the period reached P6.71 billion, 148% higher than the P2.71 billion generated in the same period in 2021. — A.L. Balinbin with R.M.D. Ochave

Bill Cosby found liable in civil case for sexual assault in 1975

Bill Cosby in a publicity shot for The Cosby Show.
Bill Cosby in a publicity shot for The Cosby Show.

SANTA MONICA, Calif. — A California jury in a civil case ruled on Tuesday that Bill Cosby sexually assaulted a woman at the Playboy Mansion in 1975 when she was a teenager and ordered the comedian to pay her $500,000 in damages for emotional distress from the incident.

Judy Huth had testified that the comedian invited her and a friend to the mansion when she was 16, and he was 37, and forced her to perform a sex act.

The verdict came nearly a year after Mr. Cosby was freed from prison when Pennsylvania’s highest court threw out his sexual assault conviction in a different criminal case there.

Ms. Huth’s lawsuit was the first civil case against Mr. Cosby to come to trial.

Ms. Huth, now 64, said she was “elated” by the ruling in the case, which she filed in 2014 after media reports detailed accusations against Mr. Cosby by multiple women. Those reports helped stir up memories of her encounter with Mr. Cosby, Ms. Huth said, and triggered four years of anxiety and other symptoms.

“It’s been so many years, so many tears,” Ms. Huth told reporters outside California Superior Court in Santa Monica. “It’s been a long time coming.”

Ms. Huth told the jury that Mr. Cosby had invited her and the friend to the mansion a few days after they met the then-famous actor and comedian at a public park. After she emerged from a bathroom, Mr. Cosby took her hand and used it to masturbate his penis, she said.

Mr. Cosby, who did not appear in person at the trial, denied Ms. Huth’s allegation. His defense team will appeal the verdict, Cosby spokesman Andrew Wyatt said.

“Mr. Cosby continues to maintain his innocence and will vigorously fight these false accusations, so that he can get back to bringing the pursuit of happiness, joy and laughter to the world,” Wyatt said in a statement.

Mr. Cosby, 84, is best known for his role as the lovable husband and father in the 1980s television comedy series The Cosby Show, earning him the nickname “America’s Dad.” But his family-friendly reputation was shattered after more than 50 women accused him of sexual assaults over nearly five decades.

Ms. Huth brought the case under a California law that allows people who claim they were abused as children to file civil cases years later as adults.

Three other women who have accused Mr. Cosby of abuse attended the trial and told reporters they felt vindicated by the verdict. Lili Bernard, who has a civil lawsuit pending against Mr. Cosby in New Jersey, said the ruling was “important for every sexual assault survivor who has not received justice.”

“We will never give up,” she said.

The jury did not rule entirely in Ms. Huth’s favor. By a 9-3 vote, they said she had not provided “clear and convincing evidence” that Mr. Cosby had acted with “malice, oppression or fraud.”

If jurors had voted yes on that question, they could have provided additional punitive damages to Ms. Huth.

In video of a deposition shown to jurors, Mr. Cosby said he did not remember Ms. Huth. But he said the incident could not have happened because he would not have pursued sexual contact at that time with someone who was under age 18.

Cosby attorney Jennifer Bonjean challenged Ms. Huth’s account throughout the trial, including her revised timeline.

When the lawsuit was filed in December 2014, Ms. Huth said the incident occurred in 1974, when she was 15. She told jurors she recently concluded that she had been mistaken about the year and now believes it happened in 1975. — Reuters

Watchdog calls for harmonized policy protection across EU

LONDON — Harmonized insurance protection schemes of last resort are needed across the European Union (EU) as consumers increasingly buy policies from outside their country, the bloc’s insurance regulator said on Tuesday.

Petra Hielkema, chair of the European Insurance and Occupational Pensions Authority (EIOPA), said cross-border premiums have been steadily increasing over the past five years compared with domestic premiums.

It also means that consumers are buying policies without knowing who is ultimately responsible if things go wrong, she said.

“Unfortunately we are seeing more cases, with policyholders in one member state receiving less protection and in case of failure less compensation than policyholders in another member state,” Ms. Hielkema told EIOPA’s annual conference.

“That, in my opinion, is unacceptable. It is therefore that EIOPA stresses that minimum harmonization of insurance guarantee schemes is very much needed.”

Insurers are regulated by their home supervisor, with EIOPA and watchdogs in EU states where products are sold by insurers from elsewhere in the bloc having little say over them.

The EU is currently amending its insurance rules and Ms. Hielkema said she was in discussion with the European Parliament on possible new powers, such as issuing a product warning, making binding recommendations to a national regulator, and stopping new sales of poor value products.

“When we talk to EU institutions, they listen, they see the need to support us on this,” she told reporters.

The EU has set up a single banking supervisor, the European Central Bank (ECB), to directly regulate big banks in the euro zone.

Nevertheless, efforts by euro zone finance ministers to go further and create a common bank deposit guarantee system failed again last week as some states fear they will end up helping weaker banks in other countries.

Ms. Hielkema said there was no appetite for a single insurance supervisor like the ECB, but there was a need to better harmonize insurance policy protection and police poor value products more effectively.

“The problem will not go away,” she said. — Reuters