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YouTube slammed by Grammy winner for not protecting copyrights

AN Grammy-award winning composer sued YouTube for failing to protect her and other “ordinary creators” from unauthorized copying and use of their work on the giant video-sharing platform.

Maria Schneider, who has won five Grammy Awards, most recently in 2015 in the category of Best Large Jazz Ensemble Album, says YouTube’s system for policing copyright infringement protects the “behemoths of the creative industry,” such as large movie studies and record labels, but leaves small producers to essentially fend for themselves.

YouTube’s digital tool Content ID ferrets out unauthorized use of copyrighted material. But the tool is only provided to large content providers, according to Ms. Schneider.

Others, including herself, “are relegated to vastly inferior and time-consuming manual means of trying to police and manage their copyrights, such as scanning the entirety of YouTube postings, searching for keywords, titles, and other potential identifiers,” according to the complaint filed last week in federal court in San Jose, California. The suit also names Google and Alphabet Inc. as defendants.

YouTube declined to comment on the suit. But the company maintains that it’s committed to protecting intellectual property rights and stopping privacy.

Ms. Schneider is asking for monetary damages and an order forcing Google to give content providers better tools to police copyright infringement. She is also asking for the court to certify the lawsuit as a class-action to represent other YouTube content providers.

“A vast library of pirated content draws users to the site, and the growth in users incentivizes the posting of more content on YouTube, which in turn enables defendants to reap more advertising revenue,” according to the complaint. — Bloomberg

SEC warns investors about Wealthness Global scheme

THE Securities and Exchange Commission (SEC) is warning the public against participating in investment opportunities offered by a certain Wealthness AM Global Corp. (Wealthness Global).

In a notice on its website, the country’s corporate regulator said Wealthness Global is unauthorized to solicit investments from the public.

It said it has investigated the group and found that it was offering several investment packages to the public priced from P270 to as much as P3,600 in exchange for opportunities to earn through captcha typing.

Once registered, a member will be given captchas to solve that will earn them points that may be converted to cash.

The group also offers other earning methods such as by direct selling of products, which are health capsules and soaps, by recruiting new members, and by having the recruited members recruit more new members.

The SEC said Wealthness Global’s operations involve schemes that are equivalent to selling securities to the public. For such an operation to be authorized, the SEC requires that a company obtains a secondary license from the commission for this specific purpose.

However, Wealthness Global’s registration with the SEC is as a corporation engaged in buying, selling and importing food supplements, cosmetics and electronic gadgets.

The SEC noted the company was told not to solicit, accept or take investments/placements from the public nor issue investment contracts.

Doing so is a violation of the Securities Regulation Code, which spells penalties for those who acted as salesmen, brokers, dealers or agents for Wealthness Global: a fine of up to P5 million, imprisonment of up to 21 years, or both.

“The public is advised not to invest or stop investing in any investment scheme being offered by any individual or group of persons allegedly for or on behalf of Wealthness Global and to exercise caution in dealing with any individuals or group of persons soliciting investments for and on behalf of it,” the SEC said.

Wealthness Global was sought for comment but did not respond as of press time. — Denise A. Valdez

Britain says to put nearly $2 billion into arts to help survival

LONDON — Britain will invest nearly $2 billion in cultural institutions and the arts to help a sector that has been crippled by the COVID-19 pandemic and lockdown, Prime Minister Boris Johnson said on Sunday.

Theaters, opera houses, and ballet companies have been left without a live audience for months.

Though English museums and cinemas can re-open with strict social distancing in the latest easing of lockdown which began on Saturday, guidelines still dictate no live performances at theaters or concert halls.

That has created an existential crisis for much of the sector, which has been vocal in calling on the government for support.

“This money will help safeguard the sector for future generations, ensuring arts groups and venues across the UK can stay afloat and support their staff whilst their doors remain closed and curtains remain down,” Mr. Johnson said in a statement.

The government said the 1.57-billion pound ($1.96 billion) investment was the biggest ever in Britain’s culture sector.

It said that Britain’s museums, art galleries, theaters, independent cinemas, heritage sites, and music venues would be protected through emergency grants and loans.

The government will consult with figures from Arts Council England, the British Film Institute and other specialist bodies on awarding grants, while it said repayable finance would be issued on affordable terms. — Reuters

ICTSI subsidiary Royal Capital sets tender offer for perpetual securities

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) announced on Monday that its subsidiary Royal Capital B.V. is offering cash for the $450 million worth of senior guaranteed perpetual securities as part of its strategy to manage the profile of its existing financings.

ICTSI also announced in a disclosure to the stock exchange on Monday plans of Royal Capital to issue new senior perpetual securities.

Royal Capital is offering cash to the holders of its outstanding $450 million 5.5% senior guaranteed perpetual capital securities. The tender offer will end on July 14 at 5:00 p.m., Central European summer time.

Results of the tender offer will be announced on or about July 15, ICTSI said. Settlement or payment of the tender consideration will take place the following day.

As for the new securities offer, the listed company said the final terms and conditions, including the issue amount and interest rate, will be determined and approved by the respective boards of directors of both ICTSI and Royal Capital “in the coming weeks, subject to market conditions.”

The said transactions were approved and ratified by ICTS’s board of directors at a meeting held on Monday.

They also approved the appointment of Citigroup Global Markets Ltd., The Hongkong and Shanghai Banking Corp. Ltd., and Standard Chartered Bank as joint lead managers for the new securities offer and as dealer managers for the tender offer.

Morrow Sodali Ltd. was appointed as tender and information agent for the tender offer.

Shares in ICTSI on Monday closed 1.16% higher at P105 apiece. — Arjay L. Balinbin

Hotel chain to convert some rooms into office space

By Zsarlene B. Chua, Reporter

ROBINSONS HOTELS and Resorts (RHR) is turning some of its hotel rooms into private office spaces and offering long-stay services in several Go Hotels, as it addresses changing consumer demand amid the pandemic.

The hospitality arm of Robinsons Land Corporation launched its Work-To-Go program at two Go Hotels and two Summit Hotels.

Long stay services under the Home-to-Go program are being offered at three Go Hotels: Go Hotels Otis-Manila, Go Hotels Ortigas Center, and Go Hotels Mandaluyong.

The group has been planning to offer long stays or dormitory services, but this was pushed forward because of the pandemic, Arthur D. Gindap, senior vice-president and business unit general manager at RHR, said in a digital briefing on July 1.

“Our five-year plan is to actually add about eight to ten dorms countrywide. So [Home-to-Go] is already a product we were working on and we just advanced its [implementation] because of the current situation, and the need, and the demand. The request to have this product is simply from a transportation perspective,” Mr. Gindap said.

RLC is set to open its first dormitory within its Bridgetowne township in Quezon City by late-2021. The property will have 640 rooms and over 2,000 beds.

“We are also looking into offering [private offices] in our properties in the Visayas and Mindanao GoHotels and all our different Summit properties,” Joy de Mesa, group director of sales and marketing at RLC, said in the same briefing.

So far the Work-To-Go program is available at Go Hotels properties in Ortigas and Mandaluyong, and Summit Hotel Magnolia (Quezon City) and Greenhills. Around 30% of the rooms at these hotels will be converted into private offices for rent.

Go Hotels Ortigas has 198 rooms, Go Hotels Mandaluyong has 223 rooms, Summit Magnolia has 82 rooms, and Summit Greenhills has 100 rooms.

In total, budget hotel brand Go Hotels has 15 locations while the more upscale Summit Hotels has six hotels in its portfolio.

To date, Ms. De Mesa said Go Hotels Ortigas has “30 to 40 rooms” occupied under the Home-to-Go program. They are set to ink contracts for the Work-to-Go program.

“The reason why the product is very, very attractive to the desired market is because of the proximity of the location of the properties. Most or all of them are actually located beside shopping malls,” Roseann Coscolluela-Villegas, director of corporate public relations at RLC, said in the same briefing.

The Work-to-Go program’s monthly rates start at P16,200 net for an 18 square meter (sq.m.) unfurnished private office for two people, up to P48,000 for a 56 sq.m. room. The rate includes Wi-Fi access, weekly cleaning services, utilities, and access to a common pantry area. A setup with office furniture will incur additional charges.

Long-stay services under the Home-to-Go program are priced starting at P18,000 a month for two people. The rate includes basic utilities and Wi-Fi access. The rate is available until December 31.

“We would like to be able to have this offer available whenever we think that the market is still very much responsive to it… given the very positive response of the market to our programs, we see this to be a part of our offerings that we sell out to the market on a daily basis,” Ms. De Mesa said.

FUTURE OF HOSPITALITY
During the briefing, Mr. Gindap noted that he foresees recovery and return to the company’s pre-COVID-19 numbers to take “as much as 12 months and might even be up to 12 to 18 months.”

“So I say to all our associates we need to be optimistic but we also need to be realistic,” he said before adding that expansion plans will be “slightly delayed.”

“Even if we went full blast and we were to open in six months’ time, there just wouldn’t be people there to take our new hotels. So we are proceeding [to open] seven hotels between this and next year,” Mr. Gindap said.

These seven hotels are: Summit Hotel Naga, Go Hotel Naga, Go Hotel Tuguegarao, Westin Sonata, Summit Gensan, H2G Bridgetown, and Fili Hotel in Bridgetown.

Mr. Gindap said he also expects consumers to tighten their purses in the near-term, and domestic tourism to lead recovery.

With RHR’s portfolio of budget brands like Go Hotels and more upscale brands like Summit and Dusit Thani, he believes they are in “a great position to handle the business.”

Cinemalaya 2020 announces short films finalists

THE Cinemalaya Philippine Independent Film Festival has announced the 10 finalists who will compete in the Short Film Category.

The finalists are: Ang Gasgas na Plaka ni Lolo Bert by Janina Gacosta and Cheska Marfori; Ang Pagpakalma sa Unos (To Calm the Pig Inside) by Joanna Vasquez Arong; Excuse Me Miss Miss, Miss by Sonny Calvento; Fatigued by James Robin M. Mayo; Living Things by Martika Ramirez Escobar; Quing Lalam ning Aldo (Under the Sun) by Reeden Fajardo; Pabasa Kan Pasyon by Hubert Tibi; Tokwifi by Carla Pulido Ocampo; Utwas by Richard Jeroui Salvadico and Arlie Sweet Sumagaysay; and The Slums by Jan Andrei Cobey.

Because of the COVID-19 pandemic, the country’s biggest independent film festival will transition to virtual theater via Vimeo. This year’s festival will focus on Short Films in Competition, Gawad CCP Para sa Alternatibong Pelikula at Video, Cinemalaya Retrospectives, Short Films in Exhibition and many more.

Co-produced by the Cultural Center of the Philippines and the Cinemalaya Foundation, Cinemalaya 2020 will run from Aug. 7 to 16.

Benguet Corp. swings to profitability

BENGUET Corp. reported a turnaround in its first-quarter with a net income of P56.7 million after the mining company recorded a marked improvement in its revenues during the period.

In the same quarter last year, the company registered a net loss of P60.56 million.

In a disclosure to the stock exchange, the company said its revenues rose 119% to P408.46 million versus P186.52 million.

Benguet Corp. credited the higher revenues in the first quarter to the sale of three boatloads of nickel ore with an aggregate volume of 158,650 tons valued at P205.2 million.

The company’s Acupan gold project milled 10,114 tons of ore, which produced 1,979 ounces of gold.

The average grade of ore milled fell to 6.09 grams of gold per ton compared with 6.94 grams of gold per ton during the same quarter in 2019. “Milling rate improved by 16% to 111 tons per day during the quarter compared to 96 tons per day in the same period last year,” the disclosure said.

The company’s Sta. Cruz nickel project under its wholly owned subsidiary Benguetcorp Nickel Mines, Inc. has posted net earnings of P20.07 million for the quarter.

Meanwhile, Benguet Corp. said its Irisan lime project posted pre-tax earnings of P3.3 million for the quarter, lower than the P8.8 million it earned in the same period last year, due to lower sales volume at 1,647 tons.

“The company will continue to be affected by the government’s imposed lockdown due to coronavirus disease 2019 (COVID-19) infection which caused disruption of operations,” the disclosure said.

However, Benguet Corp. said it had implemented precautionary strategies and protocols to address the risks from COVID-19 and provided alternative work schemes such as skeletal manpower to ensure continued business operations.

“The company is confident that its wholly owned subsidiary, BNMI will continue to market its saleable stockpiled nickel ores,” the disclosure said.

The company’s total assets increased 0.9% to P6.98 billion while its total consolidated liabilities were at P2.51 billion for the quarter.

On Monday, shares in Benguet Corp. “A” fell 4.29% or P0.06 to close at P1.34 per share while Benguet Corp. “B” retreated 4.67% or P0.07 to end at P1.43 apiece. — Revin Mikhael D. Ochave

Tranquil residential haven in Antipolo

MEGAWORLD Corp. subsidiary Global-Estate Resorts, Inc. (GERI) is developing the 640-hectare integrated lifestyle community Eastland Heights in Antipolo City.

Described as a “tranquil slice of residential haven,” Eastland Heights offers views of the Sierra Madre mountains.

Architect JJ Acuna was quoted as saying in a statement that people now long for “more ventilation, more daylight, access to greenery, and indoor-outdoor spaces at home” amid the pandemic. Lots at Eastland Heights range from 300 square meters (sq.m.) to 2,000 sq.m.

The community also hosts a 36-hole Forest Hills Golf Course, and Springs — a Bali-inspired water leisure park. Other amenities include a fitness center, tennis and basketball courts, pocket gazebos, picnic tables, a pool bar, and an event pavilion.

Crown Asia expects recovery through Build, Build, Build

CROWN Asia Chemicals Corp. (Crown Asia) is optimistic for recovery as it remains contracted to provide supplies for some of the country’s major infrastructure projects.

In a statement to the stock exchange Monday, the listed manufacturer of polyvinyl chloride (PVC) compounds said it is primed to bounce back after posting lower revenues in the first quarter due to the coronavirus disease 2019 (COVID-19) pandemic.

“[Crown Asia] continues to supply ongoing and upcoming infrastructure projects such as railways, expressways, airports and other flagship projects under the government’s Build, Build, Build Program, after a lull as a result of the COVID pandemic,” it said.

It noted it had participated in several infrastructure projects in the past such as the NAIA Expressway, New Clark International Airport Terminal, Skyway Stage 3, Cavite-Laguna Expressway and Manila-Cavite Expressway.

“Over the past years, Crown Pipes were used in premier industrial, commercial and residential projects of reputable clients… Crown Pipes continues its presence in the construction sector whether in projects (or) various trade segments,” it said.

Crown Asia’s topline in the January-to-March period fell 5% to P320.75 million due to a slowdown in its domestic sales. It said in a regulatory filing the imposition of a Luzon-wide lockdown in mid-March, which halted construction activities, affected the flow of its revenues.

But its net profit still managed to gain 6% to P45.43 million on the back of a decline in finance costs because of the repayment of car loans and foreign exchange rate differentials.

The government’s Build, Build, Build program, which the company banks on to boost its revenues, has taken the back seat in the first quarter because of the COVID-19 pandemic. Infrastructure spending fell 12.4% to P156.1 billion, 18% short of the target P191.1-billion spending for the period.

But the projected infrastructure spending for next year, as announced on June 7, sits at P1.13 trillion to help catch up after this year’s delays.

Shares in Crown Asia at the stock exchange picked up two centavos or 1.02% to close at P1.98 each on Monday. — Denise A. Valdez

Harry Potter fan sites step back from Rowling over transgender views

LOS ANGELES — Two of the biggest Harry Potter fan sites on Thursday distanced themselves from author J.K. Rowling because of her beliefs on transgender issues, calling them at odds with the message of empowerment in her best-selling books.

Websites The Leaky Cauldron and Mugglenet said they would no longer provide links to the British author’s personal website, use photos of her, or write about achievements that do not relate to the Wizarding World she created.

The joint statement by the fan sites said Rowling’s views on “marginalized people (are) out of step with the message of acceptance and empowerment we find in her books and celebrated by the Harry Potter community.”

It follows a lengthy personal essay by Rowling last month in which she detailed her research and beliefs on transgender issues, including examples of where she thought demands by transgender activists were dangerous to women.

The essay was widely criticized by LGBTQ advocacy groups as divisive and transphobic.

Rowling’s seven Harry Potter novels about a boy wizard have sold more than 500 million copies worldwide and were turned into eight blockbuster movies. She followed up with a spin-off movie franchise Fantastic Beasts and Where To Find Them.

The fan sites, which together have more than one million Facebook followers, said they found it difficult to speak out against Rowling because they had admired her work for so long, but said “it would be wrong not to use our platforms to counteract the harm she has caused.”

“While we don’t condone the mistreatment JKR (Rowling) has received for airing her opinions about transgender people, we must reject her beliefs,” the statement added.

Rowling’s representatives declined to comment on Friday’s statement. — Reuters

Gov’t upsizes award of T-bills

THE GOVERNMENT hiked the volume of Treasury bills (T-bills) it borrowed on Monday as rates continued to plummet across-the-board.

The Bureau of the Treasury (BTr) on Monday raised P24 billion via T-bills out of P116.9 billion in total tenders, which was more than five times the initial offer of P20 billion.

It borrowed P7 billion through 91-day debt papers, higher than the programmed P5 billion, from bids totaling P32.657 billion. The three-month papers fetched an average rate of 1.649%, down 9.7 basis points (bps) from the 1.746% logged in the auction last week.

It also borrowed P7 billion via 182-day T-bills, more than the P5-billion plan, as the tenor attracted tenders worth P34.574 billion. The average rate for the six-month T-bills declined by 14.2 bps to 1.75% from 1.892% previously.

Meanwhile, the BTr made a full P10-billion award of 364-day papers out of bids worth P49.669 billion. The one-year instruments fetched an average rate of 1.855%, down by 12.5 bps from the 1.98% seen last week.

National Treasurer Rosalia V. de Leon told reporters that rates plunged due to the central bank’s decision to benchmark interest rates by 50 bps last month.

Benchmark rates now stand at record lows of 2.25%, 2.75 and 1.75% for the central bank’s overnight reverse repurchase, lending and deposit facilities, respectively.

The Bangko Sentral ng Pilipinas (BSP) Monetary Board has slashed key policy rates by a total of 175 bps so far this year to mitigate the impact of the coronavirus pandemic on the economy.

Ms. De Leon added the market remains awash with cash, especially now that the BTr has repaid around P38 billion in maturing debt.

“[The low rates can be] attributed to [the] 50-bps cut and strong liquidity. We have P38.35 billion maturities back to the system,” she said via Viber.

Meanwhile, a bond trader said the market remains liquid due to dampened borrowing activity as firms are postponing plans to expand their businesses due to the ongoing pandemic.

“[There’s] just too much liquidity at the moment as a result of less borrowing activity by corporates and companies deferring their expansion plans,” the trader said.

Latest BSP data showed bank lending growth in April slowed to 12.7% from 13.6% in March, which was attributed to slower economic activity due to the lockdown.

On Tuesday, the BTr will offer P30 billion in fresh 10-year Treasury bonds (T-bonds).

The government has set a P205-billion borrowing program for July and will offer P145 billion in T-bills via weekly auctions and P60 billion in T-bonds to be auctioned off every other week.

It borrows from local and foreign lenders to plug its budget deficit seen to hit 8.4% of gross domestic product this year. — B.M. Laforga

NBI Clearance Center opens at mall

THE National Bureau of Investigation (NBI) Offsite Clearance Center will be open at the Trade Hall, Expansion Building of Robinsons Novaliches until July 31.

The center operates from 10 a.m. to 5 p.m., Mondays to Friday.

All applicants for the NBI clearance should register at clearance.nbi.gov.ph and pay online before going to the center.

All applicants should go only on their appointment date.

Physical/social distancing and wearing of face masks should be observed at all times. Accompanying person will not be allowed at the venue.

Only 500 applicants will be accommodated every day.