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Udenna-Chevron’s Malampaya deal ‘invalid’ — Senate energy chair

THE Department of Energy’s (DoE) approval of Udenna Corp.’s purchase of Chevron Malampaya LLC shares, which has a 45% stake in the offshore Malampaya gas field in Palawan, is defective and therefore invalid according to Senator Sherwin T. Gatchalian.

In a statement on Sunday, Mr. Gatchalian said that as the committee head, his opinion is that the deal’s approval is “defective… therefore the approval is invalid because clearly, there’s a lot of inconsistencies and any major transaction like this should not lead to confusion.”

He made the same stand in the Senate energy committee’s budget hearing on Thursday.

Mr. Gatchalian earlier questioned the deal between Udenna and Chevron as under Presidential Decree 87, sale transactions involving oil exploration require prior approval from the government, in this case, the DoE.

However, during the hearing, Mr. Cusi said the DoE did approve the sale through a “farm-in” process, referring to a deal where an investor acquires a stake from an existing participant in an oil or gas project.

He also gave an assurance that the Philippine National Oil Co. Exploration Corp. (PNOC-EC) studied the questioned sale of the 45% stake in the Malampaya gas field to businessman Dennis A. Uy, owner of Udenna.

“In fact, I (tried) to negotiate to get 10% of Chevron’s share to be bought by PNOC-EC… but we were accused of bailing out Mr. Uy,” Mr. Cusi added.

The DoE earlier claimed that the department was not informed of the transaction and that it did need to approve the agreement as it was an agreement between two private companies.

Mr. Gatchalian also pointed out that the said farm-in agreement process was not stated in any of the documents submitted by the DoE on the Malampaya buyout.

He said that when he reviewed the documents, there was no such disclaimer that the DoE used a different method.

“So, all along in our minds, the transaction went through the normal process,” he said.

Mr. Gatchalian said the issue will be tackled further in the next Senate hearing on the DoE’s 2022 budget. The schedule of the hearing is yet to be announced.

In a Viber message on Sunday, Phoenix Petroleum Philippines, Inc. Senior Vice-President Raymond T. Zorrilla said that they “respect the alleged view of the Senator” but maintain their stand “that the transaction is legal and above board.”

“It is a private transaction that has passed all the legal processes of the parties therein,” Mr. Zorrilla added.

Phoenix Petroleum is a subsidiary of Udenna. Shares in the listed oil company went down by 0.93% or 10 centavos to finish at P10.70 apiece on Friday.

Aside from acquiring Chevron’s 45% stake in the gas field, Mr. Uy’s group is also acquiring Shell Philippines Exploration B.V., which holds another 45% stake. Approval of the second acquisition is pending with the DoE.

State-led PNOC-EC holds the remaining 10% of the project.

The Malampaya gas field covers an area of about 830 square kilometers and provides up to 20% of the Philippines’ energy requirements. It is crucial in reducing the country’s dependence on imported fuel. — Bianca Angelica D. Añago

Entertainment News (10/25/21)

DURANDURAN.COM

Duran Duran drops new album 40 years after debut

LONDON — When British pop band Duran Duran made their debut, they did not know how long they would last. But 40 years on, the new wave group are still going strong, releasing their 15th studio album, Future Past, on Friday.

“We would never have expected to be still making music together after all this time. We were just kids and we came together in punk rock,” bassist John Taylor told Reuters. “(In) the late ‘70s where nobody was thinking long term, it was like, could we just play next year?”

Formed by Mr. Taylor and keyboardist Nick Rhodes in 1978, Duran Duran rose to fame with hits such as “Girls on Film,” “The Reflex” and “Rio.” The band, with lead singer Simon Le Bon and drummer Roger Taylor, has sold more than 100 million records worldwide and won two Grammy Awards.

Their new song “Anniversary” celebrates the 40 years since they released their first album in 1981. “‘Anniversary’ is a song that kind of celebrates the time that we’ve been together as a band, but it’s also open to everybody and anything anyone might want to celebrate,” Mr. Taylor said.

For their new release, the band collaborated with producers Erol Alkan and Giorgio Moroder, while Blur guitarist Graham Coxon, Japanese punk band CHAI and rapper Ivorian Doll, among others, feature in an eclectic mix of tracks.

The group began work on the album in late 2018 and worked on it sporadically in 2019. The coronavirus disease 2019 (COVID-19) pandemic forced them to stop for about 10 months. —  Reuters

K-pop megaband BTS leaves Sony for Universal

SOUTH Korea’s BTS has signed a new distribution and marketing deal with Universal Music Group, the world’s biggest music label, dropping Sony Music’s Columbia Records, the music band’s manager said on Friday.

Hybe Co. Ltd.-owned Bighit Music, which manages BTS, did not disclose the financial terms of the deal but said Universal and its American record label Interscope would distribute and market BTS’ music in the United States and other regions.

The deal expands the entertainment company’s existing partnership with Universal, as it seeks to boost the popularity of K-pop music globally.

BTS, which shot to global fame after the release of its English songs such as “Butter” and “Permission to Dance,” is the first K-pop group to ever receive a Grammy Award nomination. The seven-member band has garnered millions of fans worldwide since its debut in 2013, teaming up with big names including Coldplay, Steve Aoki and Halsey. Last month, BTS performed at the United Nations in an effort to promote global goals of tackling poverty, inequality, injustice and climate change ahead.

Universal, whose other hit singers and catalogues include Justin Bieber and The Beatles, was spun off by France’s Vivendi last month.

Sony Music and Universal Music Group did not immediately respond to Reuters requests for comment.

Focus turns to safety fears before New Mexico movie shooting tragedy

SANTA FE, N.M. —  The movie director who was wounded on set when Alec Baldwin discharged a prop gun said on Saturday he was “gutted” by the death of the film’s cinematographer, as more details emerged suggesting the production was troubled even before the accidental shooting.

Joel Souza, who was hit in the shoulder on Thursday when Mr. Baldwin fired a prop gun that unexpectedly contained a live round while rehearsing a scene, broke his silence as the investigation entered its third day, with multiple questions remaining over how the mistake happened.

“I am gutted by the loss of my friend and colleague, Halyna. She was kind, vibrant, incredibly talented, fought for every inch and always pushed me to be better,” Mr. Souza said in a statement.

The shot hit cinematographer Halyna Hutchins in the chest, according to the Santa Fe County Sheriff’s Office. She died of her wounds and Mr. Souza, who was behind her, was injured but later released from the hospital.

Just hours before the incident on the New Mexico set of Rust, a low-budget Western, several crew members quit in protest at what they saw as poor working conditions, according to multiple news outlets.

The Los Angeles Times reported that last week Mr. Baldwin’s stunt double accidentally fired two rounds with a prop firearm after being told it was “cold,” an industry term meaning a weapon is not loaded with ammunition, including blanks. At least one employee complained to a production manager about gun safety on set, the newspaper reported, citing unnamed crew members.

The same mistake may have occurred on Thursday, according to court records. An assistant director, Dave Halls, handed Mr. Baldwin the prop gun and told him it was a “cold gun,” according to an affidavit from the sheriff’s office that was filed as part of a search warrant application. Halls could not be reached for comment on Saturday.

A Santa Fe judge on Friday approved the warrant, allowing authorities to seize firearms, clothing, cameras, video tapes and ammunition from the Bonanza Creek Ranch outside Santa Fe.

Rust Movie Productions said in a statement on Friday it had not been aware of any safety concerns but was investigating the incident. “Though we were not made aware of any official complaints concerning weapon or prop safety on set, we will be conducting an internal review of our procedures while production is shut down,” the company said. Mr. Baldwin is among the film’s producers.

It is unclear why the gun contained a live round. The person in charge of weapons on set is known as an armorer; the armorer for Rust, Hannah Gutierrez, had set up the gun and two others, according to the affidavit. Gutierrez could not be reached for comment on Saturday.

No charges have been filed in the case, and police have said the investigation remains active. Security guards were posted at the road leading to the ranch on Saturday. — Reuters

Wheat hits new highs as world appetite grows, supply shrinks

REUTERS

SPRING WHEAT surged to $10 a bushel for the first time since 2012 as hot and dry crop conditions from North America’s prairies to Russia’s Urals leaves the world short on grain used to make everything from croissants to pizza crusts.

Prices climbed for the sixth straight week, the longest run of gains in more than two years, as a global appetite grows for wheat of all types. The US expects overall grain stockpiles to end the season at a five-year low. The scarcity is boosting demand for hard red winter wheat, which was more abundant this year than other varieties. Those futures soared to a seven-year high.

Attention is now turning to 2022 and the early outlook is triggering concern. A three-month forecast from the US predicts more drought in some of the country’s key wheat regions. That could cause growers already facing soaring costs for basic farm products to hold back on big crop investments.

“With the dryness, combined with fertilizer prices up double year on year and availability concerns, many wheat farmers will be ‘spoon feeding’ their crop,” Justin Gilpin, chief executive officer of the Kansas Wheat Commission, said in an interview. It “makes 2022 production harder to estimate at this time.”

The prospect of further supply problems next year raises the chance that wheat prices will continue to surge upward and worsen worldwide food inflation. The latest United Nations figures show food prices at a decade high amid harvest setbacks and supply chain disruptions.

Higher wheat prices also could boost the cost of livestock feed when China has been looking for alternatives to corn and soybeans to feed help feed its hog herds.

Most-active spring wheat futures in the US climbed 2.8% to $10.13 a bushel on Friday, the highest since July 2012. The futures in Minneapolis have soared 69% this year.

Hard red winter wheat, which is widely used for all-purpose flour and also is a potential substitute for spring wheat, settled the day up 3.5% at $7.74 a bushel in Chicago. That’s the priciest since May 2014.

Benchmark soft winter wheat, an ingredient in cakes, cookies and crackers, rose 2% to $7.56 a bushel in Chicago.

In other crops, December corn rose and January soybeans fell. — Bloomberg

Stocks to move sideways ahead of firms’ results

BW FILE PHOTO

STOCKS could move sideways this week on expectations that the government would further ease mobility restrictions as cases drop and amid the release of companies’ earnings results.

The 30-member Philippine Stock Exchange index (PSEi) lost 22.11 points or 0.30% to close at 7,289.61 on Friday, while the broader all shares index went down by 12.22 points or 0.27% to end at 4,462.70.

“Philippine shares traded slightly lower as investors weighed the lower-than-expected earnings reports… against the release of strong jobs data,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The S&P 500 and Nasdaq closed lower on Friday as disappointing quarterly reports from Snap, Inc. and Intel Corp. put pressure on the communications and technology sectors and investors turned skittish as Federal Reserve Chair Jerome Powell discussed stimulus tapering, Reuters reported.

The Dow Jones Industrial Average rose 73.94 points or 0.21% to 35,677.02; the S&P 500 lost 4.88 points or 0.11% to 4,544.90; and the Nasdaq Composite dropped 125.50 points or 0.82% to 15,090.20.

Still, all three indexes notched a third straight week of gains for the first time since early July, with the S&P adding 1.6% for the week while the Dow climbed 1.1% and the Nasdaq advanced by 1.3%.

Meanwhile, data from the US Labor Department on Thursday showed that jobless claims went down by 60,000 to 290,000 from 350,000 the previous week.

Still, week on week, the benchmark PSEi went up by 76.15 points from its 7,213.46 finish on Oct. 17.

This increase was on the back of the easing of restrictions in Metro Manila to Alert Level 3 from Level 4 amid the decline in coronavirus cases, Timson Securities, Inc. Trader Darren Blaine T. Pangan said.

“Investors’ confidence improved as the government implemented the Alert Level System to other growth center regions,” Papa Securities Corp. Equities Strategist Manny P. Cruz said in a mobile message.

For this week, Timson Securities’ Mr. Pangan said the outlook is positive as the coronavirus transmission rate continues to go down, which is fueling expectations of a further easing in the restrictions.

OCTA Research fellow Guido David in a social media post on Saturday said the capital’s weekly coronavirus case average went down to 996 or lower than 1,000 “for the first time since July 22 to 28” in the week of Oct. 18 to 23.

The Health Department on Thursday said restrictions in Metro Manila may be downgraded to Alert Level 2 as coronavirus cases continue to decline.

Investors may also look at upcoming US economic reports, such as the gross domestic product data of the world’s largest economy, Mr. Pangan added.

“7,070 seems to be the closest support area, while 7,500 is where we may peg the next resistance to watch,” he said.

Regina Capital’s Mr. Limlingan said “investors may probably take cues from earnings that will slowly be released.” — B.A.D. Añago with Reuters

Debt yields up on Fed bets

YIELDS on government securities (GS) increased last week after the government rejected the high bids for its reissued 10-year papers amid inflation concerns and expectations of US Federal Reserve’s unwinding of its massive bond buying as soon as next month.

Debt yields, which move opposite to prices, went up by an average of 8.37 basis points (bps) week on week, based on the PHP Bloomberg Valuation (BVAL) Service Reference Rates as of Oct. 22 published on the Philippine Dealing System’s website.

Yields at the secondary market increased almost across the board on Friday from their close on Oct. 15. At the short end of the curve, yields on 91- and 182-day Treasury bills (T-bills) inched up by 3.02 bps (to 1.2296%) and 2.34 bps (1.4582%), respectively. On the other hand, 364-day papers dipped by 0.56 bp to fetch 1.6104%.

At the belly, the rates of the two-, three-, four-, five-, and seven-year Treasury bonds (T-bonds) rose by 12.68 bps (to 2.3794%), 12.95 bps (2.8981%), 12.23 bps (3.3779%), 10.1 bps (3.8088%), and 6.67 bps (4.4736%).

At the long end, the rates of the 10-, 20-, and 25-year T-bonds increased by 2.66 bps (to 4.9692%), 8.62 bps (5.1028%), and 21.35 bps (5.2308%).

“The Bureau of the Treasury’s (BTr) weekly borrowing and its preference to issue five- to seven-year bonds have been putting upward pressure on rates,” said the bond trader in a Viber message.

“Though we saw some reprieve after the rejection of bids in last Tuesday’s auction, bids continue to be on the defensive,” the bond trader added.

After raising P15 billion in short-dated papers on Monday as programmed, the Treasury rejected the bids for reissued 10-year paper as investors sought higher returns as they expect rising inflation concerns to continue and the impending US Federal Reserve bond-buying taper as soon as next month.

The government did not award the bonds, which have a remaining life of five years and six months, as tenders reached P34.062 billion, below the P35 billion on the auction block and the P65.091 billion in bids recorded the last time the BTr offered the bond series on June 22.

Had the government accepted the tenders, the average yield on the 10-year bonds would have climbed by 169.8 bps to 4.883% from the 3.185% fetched when the series was last offered.

“Uptick in local bond yields saw some reprieve from the P52 billion worth of liquidity coming from the RTB 10-3 maturity as well as BTr rejecting high bids for the scheduled FXTN 10-61 reissuance,” First Metro Asset Management, Inc. (FAMI) said in a separate Viber message.

“Dealers were also seen unloading three 10-year bonds, taking advantage of the freed-up liquidity from the RTB maturity and in view of US Treasury yields rising to their highest level in more than four months,” FAMI added.

“The UST 10-year bonds touched 1.7%, still amid concerns over persistently high inflation due to surging oil prices and global supply chain bottlenecks,” it said.

For next week, “BTr’s borrowing schedule for the month of November and global bonds’ movements will continue to weigh on the local bond yield movements and will probably render upward bias,” FAMI said.

The bond trader expects the yields to continue to trade sideways with an upward bias as the market waits for the result of Tuesday’s reissued seven-year papers and the release of BTr’s November borrowing schedule.

On Tuesday, the government will offer P35 billion in reissued seven-year debt with a remaining life of six years and nine months. — Lourdes O. Pilar

NBA celebrates 75th year, partners with F1 in US GP

IMAGE FROM THE NBA

TO CELEBRATE its 75th anniversary, the National Basketball Association (NBA) joined forces with Formula 1 (F1) for “a first-of-its-kind content and promotion partnership to bring together the broad, global fanbases of the NBA and F1.” It also marked the return of F1 to the country as the 2021 Formula 1 United States Grand Prix happened last Sunday, Oct. 24, in Austin, Texas.

Exclusive imagery featuring F1 cars in custom liveries representing all 30 NBA teams dropped on NBA and F1 social channels around the world. ESPN also hosted F1 drivers as they battled it out off the track in a free throw challenge at an NBA 75th Anniversary-themed basketball half-court within the Circuit of the Americas paddock. NBA legends were on site to meet the drivers and provide shooting tips as they competed to make the most number of free throws out of 10, with US$20,000 up for grabs to be donated to the winner’s charity of choice.

The NBA has established a major international presence with games and programming available in 215 countries and territories in more than 50 languages, and merchandise for sale in more than 100,000 stores in 100 countries on six continents. NBA rosters at the start of the 2021-2022 season featured a record 121 international players from 40 countries.

Profit taking pulls PLDT’s share price 

INVESTORS chose to pocket gains last week, pulling back PLDT, Inc.’s share price despite its announcement last week on building the country’s “biggest” data center for global technology organizations.

A total of 809,105 PLDT shares worth P1.32 billion were traded from Oct. 18 to 22, data from the Philippine Stock Exchange showed.

The share price on the telecommunications company closed at P1,606 apiece, down 3.02% from Oct. 15’s closing of P1,656. For the year, the stock has gone up by 17.8%.

In a Viber message, Timson Securities, Inc. Trader Darren Blaine T. Pangan said that market players reacted to PLDT’s plans of building a data center to attract technology giants and cloud service providers to the country, leading to its share price inching up following the announcement.

“[P]rofit takers [later] came into the picture as market participants may have chosen to assess how the project unfolds amid the ongoing uncertainty that the current pandemic situation brings,” Mr. Pangan added.

On the other hand, Mercantile Securities Corp. Analyst Jeff Radley C. See pointed to developments in digital payments firm PayMaya Philippines, Inc., a subsidiary of PLDT’s digital arm Voyager Innovations, Inc.

“Investors were keen on PayMaya…, which recently secured a digital bank license. The demand for connectivity continues to increase due to companies shifting to a work-from-home setup,” Mr. See said in an e-mail.

“The overall market is currently trading at the resistance level. Investors are profit taking for now to secure their profit as they await the [third quarter] earnings,” Mr. See added.

In an e-mailed statement last Tuesday, PLDT announced that it would build the “first and biggest” data center in the country tailored to support the needs of global technology giants and cloud service providers that are expanding in the region. The data center is said to be telco neutral.

PLDT Enterprise in June said the Philippines is now regarded as an emerging data center market, as major data center hubs in Southeast Asia, especially Singapore and Hong Kong, face challenges. Singapore has issued a moratorium to freeze data center construction in the country due to sustainability concerns and landmass shortage.

The telecommunications company still holds the title for the largest data center in the Philippines. PLDT subsidiary ePLDT VITRO currently maintains 10 data centers across the Philippines and caters to enterprise needs such as colocation, cloud hosting, disaster recovery, managed servers, security, and network services.

Meanwhile, the Bangko Sentral ng Pilipinas (BSP) last month gave the sixth and final digital banking license to Maya Bank, which will be operated by PayMaya. Online banks are expected to help the BSP reach its goal of bringing 70% of Filipinos into the formal banking system and have 50% of transactions done online by 2023.

Also granted digital banking licenses were Tonik Digital Bank, Inc. (Philippines), UNObank, Aboitiz-led Union Digital Bank, and GOtyme, which is owned by the Gokongwei group and Singapore financial technology (fintech) firm Tyme.

“Market sentiment can be described as optimistic this week, as investors looked forward to more mobility restrictions being eased during the last quarter of the year. However, this is tempered by the overall cautious sentiment amid ongoing inflation concerns across the globe,” Timson Securities’ Mr. Pangan said.

Mr. Pangan placed PLDT’s “nearest major support” at P1,600 per share and the closest resistance level at P1,726 per share.

For Mercantile Securities’ Mr. See: “PLDT might move in a range for now between P1,590 and P1,755.”

“Support will be at P1,597.50 and P1,560.26, while resistance is at P1,640, P1,660 and P1,680,” he said.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a stake in BusinessWorld through the Philippine Star Group, which it controls. — Bernadette Therese M. Gadon

How well does the Philippines balance energy needs with environmental sustainability (compared with other economies)?

How well does the Philippines balance energy needs with environmental sustainability (compared with other economies)?

How PSEi member stocks performed — October 22, 2021

Here’s a quick glance at how PSEi stocks fared on Friday, October 22, 2021.


Magnolia narrows series deficit

THE Magnolia Hotshots regained some ground in their best-of-seven PBA Philippine Cup finals series with the TnT Tropang Giga by taking Game Three, 106-98, on Sunday to narrow their deficit, 1-2. — PBA IMAGES

By Michael Angelo S. Murillo, Senior Reporter

THE Magnolia Pambansang Manok Hotshots regained some ground in their best-of-seven Philippine Basketball Association (PBA) Philippine Cup finals series with the TnT Tropang Giga by taking Game Three, 106-98, on Sunday to narrow their deficit, 1-2.

Had their backs against the wall after losing the first two games of the finals at the Don Honorio Ventura State University Gym in Bacolor, Pampanga, the Hotshots played with a sense of urgency en route to the win that reignited their erstwhile flickering title hopes in the ongoing Philippine Basketball Association tournament.

Magnolia finally got the good opening half it was looking for in the series to establish a firmer footing in the contest.

Led by the trio of Paul Lee, Calvin Abueva and Jio Jalalon, the Hotshots took the first quarter, 26-20, and kept the Tropang Giga at bay, 52-46, at the break.

The Hotshots continued to hum to start the third quarter.

They outscored TnT, 23-15, in the first seven minutes to stretch their lead to 14 points, 75-61.

Making matters worse for the Tropang Giga was forward Troy Rosario dislocating his left pinkie on a flagrant foul by Jackson Corpuz with 3:02 left in the frame.

Mr. Rosario was then taken to the dugout to be reassessed while Mr. Corpuz was thrown out after being assessed with a technical foul earlier in the match.

But TnT continued to fight, going on a 9-7 run after the incident to cut Magnolia’s lead to just five points, 82-77, heading into the final quarter.

Rattled at the end of the third, Magnolia established control at the start of the payoff canto, extending its lead to 18 points, 95-77, with 7:49 to go in the match.

The Tropang Giga tried to rally back, narrowing the Magnolia lead to just three points, 98-95, with 1:11 left.

Four straight points by Magnolia after put the game away for it.

Mr. Lee led the way for the Hotshots with 21 points, followed by Ian Sangalang with 20.

For TnT, it was rookie Mikey Williams who showed the way 39 points, padded by 10 three-pointers.

Game Four of the finals is set for Wednesday.

Braves advance to World Series with 4-2 win over Dodgers

ATLANTA Braves left fielder Eddie Rosario (8) hits a three run home run during the fourth inning against the Los Angeles Dodgers in game six of the 2021 NLCS at Truist Park. — REUTERS

THE Atlanta Braves rode Eddie Rosario’s heroics all the way to the World Series, finishing off the Los Angeles Dodgers with a 4-2 victory at home on Saturday in Game 6 of the National League Championship Series (NLCS).

Rosario’s three-run home run in the fourth inning was the difference as the Braves advanced to the World Series for the first time since 1999. Atlanta will travel to Houston for Game 1 of the Fall Classic on Tuesday.

Austin Riley had an RBI double, starter Ian Anderson gave up one run on three hits over four innings and left-hander Tyler Matzek (1-0) recorded six key outs as the Braves avenged their defeat to the Dodgers in the NLCS last season.

Rosario had two hits and 14 total in the NLCS to tie a major league record for hits in a playoff series. He had four hits in Game 2, including a game-ending single, and four in Game 4.

Cody Bellinger and AJ Pollock drove in runs for the Dodgers, while starter Walker Buehler (0-2) gave up four runs on seven hits over four innings on just three days of rest. Right-hander Max Scherzer did not start Game 6 for Los Angeles as scheduled because of arm fatigue.

The loss ended the seven-game winning streak in elimination games for the defending-champion Dodgers, going back to last year’s NLCS. Los Angeles now heads into an offseason when players like Clayton Kershaw, Max Scherzer, Corey Seager, Kenley Jansen and Chris Taylor all are free agents.

The Braves jumped out to a 1-0 lead in the first inning on back-to-back two-out doubles by Ozzie Albies and Riley.

Anderson held the Dodgers in check until the fourth, when Los Angeles had runners on second and first with one out. Bellinger rolled a two-out RBI single to left-center field to tie the game.

The Braves used another two-out rally to regain the lead in the fourth. Travis d’Arnaud walked, Ehire Adrianza doubled and Rosario sent the seventh pitch of his at-bat against Buehler over the wall and just inside the right-field foul pole for a 4-1 lead.

The Dodgers pulled within 4-2 in the seventh on an RBI double from Pollock. With runners on second and third with nobody out, Matzek came on to strike out Albert Pujols, Steven Souza, Jr. and Mookie Betts to end the threat. Matzek added a perfect eighth inning.

Closer Will Smith finished off the victory with a perfect ninth inning for his fourth save of the postseason, getting Pollock to ground out to shortstop to end it. — Reuters

Filipino gymnast Caloy Yulo wins vault gold in World event

GYMNASTICS wunderkind Carlos Yulo — REUTERS

FILIPINO gymnast Carlos “Caloy” H. Yulo bagged the gold medal in the men’s vault event of the 50th International Gymnastics Federation (FIG) Artistic Gymnastics World Championships in Kitakyushu, Japan, on Sunday.

Twenty-one-year-old Mr. Yulo scored an average of 14.916 points to take the top spot in the vault finals held at the Kitakyushu City Gymnasium. He finished ahead of Yonekura Hidenobu of Japan (14.866) and Medvedev Andrey of Israel (14.649), who placed second and third, respectively.

Mr. Yulo’s gold in the vault was his first title in this year’s edition of the world championships and provided redemption after he fell short in his push to defend his floor exercise title on Saturday by finishing fifth in the event.

The currently Japan-based gymnast won the world championship in floor exercise back in 2019 in Stuttgart, Germany, which also earned him a spot in the 2020 Tokyo Olympic Games.

In winning gold in the vault event, Mr. Yulo was towed by a solid showing in the second vault with a Dragulescu (front handspring double front with a half twist out) where he scored 15.033, built on a difficulty of 5.600 and execution of 9.433.

In the first vault, where he did three twists before landing, he had a score of 14.800 – 5.600 (difficulty) and 9.200 (execution).

Japan’s Hidenobu had a score of 15.000 in his first vault, but fell in the second with a 14.733 output.

Mr. Yulo’s world championship title in the vault was also a bounce-back for him after failing to land a podium finish in the event in the Tokyo Games in August. He finished fourth in the vault finals in his Olympic debut.

Disappointed, he immediately went back to work, fine-tuning his skills to live up to the standards he has put up for himself.

He made it known that the world championships in Japan was part of his redemption tour.

Apart from winning the gold in the vault event, Mr. Yulo also nabbed the silver medal in the parallel bars on Sunday, tallying a total of 15.300 points. China’s Hu Xuwei topped the event with 15.466. — Michael Angelo S. Murillo