MLB roundup: Brewers, Astros in playoffs with losing records

September 28, 2020 | 4:59 pm

HARRISON BADER powered the playoff-bound St. Louis Cardinals to a 5-2 win Sunday over visiting Milwaukee, but the Brewers were still the big winners as they grabbed the last spot in the National League (NL) postseason.

Bader hit a triple, blasted a solo homer and scored twice as the fifth-seeded Cardinals will head on the road to face the fourth-seeded San Diego Padres in a National League wild-card series.

With the Philadelphia Phillies and San Francisco Giants also losing Sunday, the Brewers grabbed the No. 8 seed in the NL. Milwaukee and the American League’s Houston Astros are the first teams ever to make the playoffs with a losing record. The Brewers will face the top-seeded Los Angeles Dodgers.

Cardinals starting pitcher Austin Gomber allowed one run on one hit, two walks and a hit batter in four innings. Reliever Giovanny Gallegos (2-2) pitched two scoreless innings to earn the victory and Alex Reyes closed out the game to earn his first save.

RANGERS 8, ASTROS 4
Rougned Odor hit a pair of home runs and host Texas parlayed a five-run fourth inning into a victory over Houston, giving the Rangers the four-game series win in Arlington, Texas.

Texas trailed 3-1 before Odor smacked a three-run home run to right field off Astros right-hander Chase De Jong (0-1) with one out in the fourth. Odor clubbed his 10th homer an inning later off right-hander Nivaldo Rodriguez, who entered in relief of De Jong with the bases loaded and two outs in the fourth. Odor finished 2-for-3 with four RBIs, two runs and a walk.

The Astros, who finished 9-23 on the road, will open their American League wild-card series at Minnesota on Tuesday as the sixth seed. Houston posted its first losing season since 2014 and joined the Milwaukee Brewers in becoming the first teams in baseball history to make the postseason with records below .500.

PADRES 5, GIANTS 4
San Diego ended host San Francisco’s playoff hopes as Wil Myers doubled, homered and drove in two runs, and the Padres held off the Giants’ comeback bid on the final day of the regular season.

While the Padres were already locked into the National League’s No. 4 playoff position, the Giants needed a win and a Milwaukee Brewers loss at St. Louis to claim a wild-card spot. The Cardinals did their part for the Giants, beating the Brewers 5-2, but San Francisco couldn’t complete a rally from a 5-1 deficit.

The Padres will take a three-game winning streak into their best-of-three home series against the fifth-seeded Cardinals, beginning on Wednesday.

DODGERS 5, ANGELS 0
Six pitchers combined to throw a three-hit shutout to lead the playoff-bound Dodgers to the victory over the Angels at Dodger Stadium.

A.J. Pollock homered twice to propel the Dodgers, and also singled, drove in three runs and scored twice as the Dodgers finished 43-17, the best record in the majors.

The Dodgers have qualified for the playoffs in seven consecutive seasons, while the Angels finished 26-34 and out of the postseason for the sixth year in a row. Billy Eppler, the Angels’ general manager for five of those seasons, was fired by the club on Sunday.

NATIONALS 15, METS 5
Trea Turner hit a grand slam and finished with seven RBIs, and 21-year-old Juan Soto became the youngest National League batting champion as host Washington routed New York.

The Nationals won the final three games of the four-game series to officially move past the Mets in the National League East and avoid becoming just the third reigning World Series champion to finish last. Washington finished fourth by virtue of winning the season series 6-4.

Soto finished the regular season with a .351 batting average, ahead of runner-up Freddie Freeman (.341) and No. 3 Marcell Ozuna (.338), both of the Braves.

MARLINS 5, YANKEES 0
New York’s DJ LeMahieu wrapped up the American League batting title, but the Yankees were dealt a shutout loss by visiting Miami in the regular-season finale for both teams.

LeMahieu finished with a .364 batting average to win the AL batting title, and became the first player to win batting titles in both leagues after winning the 2016 crown with Colorado in 2016.

Jazz Chisholm hit a two-run double and homered for the Marlins, who secured their first winning record since 2009 but also lost outfielder Starling Marte (ear contusion) and starting pitcher Jose Urena (hand) in the opening three innings.

RED SOX 9, BRAVES 1
Boston concluded a disappointing season with a power surge, belting four home runs to defeat host Atlanta, which had already won the NL East and secured the No. 2 seed for the playoffs.

The Red Sox got solo home runs from Jackie Bradley Jr., Xander Bogaerts and Jonathan Arauz, the first of his career. J.D. Martinez hit a two-run opposite-field homer to start a five-run uprising in the seventh that put the game out of reach. Nick Pivetta (2-0) worked five innings and allowed one run on four hits, two walks and five strikeouts.

Atlanta’s Marcell Ozuna fell short in his bid to become the first National League player to win the Triple Crown since Joe “Ducky” Medwick in 1937. Ozuna hit a solo homer, his 18th, and finished with 56 RBIs — both NL league-leading totals. His average of .338 fell short of the .351 posted by Washington’s Juan Soto.

ORIOLES 7, BLUE JAYS 5
Cedric Mullins had two triples and two RBIs to help Baltimore salvage the finale of a regular season-ending three-game series with a win over Toronto in Buffalo.

The Blue Jays, who will enter the playoffs as the No. 8 seed in the American League, still won eight of their 10 meetings with the Orioles this season. Lourdes Gurriel Jr. was 4-for-4 with a two-run homer and Vladimir Guerrero Jr. added a solo shot for Toronto.

Orioles starter Keegan Akin allowed four runs on five hits in three innings. Travis Lakins Sr. (3-2) relieved Akin and permitted a walk and struck out two in two scoreless innings. Cesar Valdez pitched a perfect ninth to earn his third save.

REDS 5, TWINS 3
Eugenio Suarez had two hits and drove in two runs, including one during a three-run 10th inning, as Cincinnati defeated Minnesota in Minneapolis in the final regular-season game for a pair of playoff teams.

Joey Votto walked three times and drove in what proved to be the winning run with a bases-loaded free pass for Cincinnati. The Reds, who were locked into the No. 7 seed in the National League when the St. Louis Cardinals defeated the Milwaukee Brewers 5-2 earlier on Sunday, will face the second-seeded Atlanta Braves in the National League wild-card round beginning Wednesday.

Raisel Iglesias (4-3) picked up the win despite allowing an unearned run in his 1 1/3 innings. Caleb Thielbar (2-1) took the loss after pitching 1 1/3 innings and giving up one unearned run. Sergio Romo failed to retire any of the four batters he faced.

CUBS 10, WHITE SOX 8
Kris Bryant and David Bote homered as part of a six-run second inning and Billy Hamilton added a home run and a steal of home, helping the visiting Cubs send their cross-town rivals to an eighth loss in the last 10 games.

The Cubs led 10-1 entering the eighth inning, but the White Sox scored five runs in the eighth and two in the ninth to bring the tying run to the plate with one out remaining. Andrew Chafin entered and struck out Nomar Mazara to end the game and earn his first save in three chances.

The Cubs, who clinched the National League Central on Saturday, finished as the No. 3 seed in the eight-team NL playoff field and will host the Miami Marlins in a best-of-three wild-card round series beginning Wednesday. The White Sox will be the No. 7 seed in the AL playoffs, visiting the Oakland Athletics in the wild-card round beginning Tuesday.

DIAMONDBACKS 11, ROCKIES 3
Kole Calhoun homered and finished with two hits, Madison Bumgarner tossed five scoreless innings, and Arizona beat Colorado in Phoenix.

Tim Locastro, Ketel Marte, Eduardo Escobar, Nick Ahmed, Wyatt Mathisen and Carson Kelly all finished with two hits for the Diamondbacks. Raimel Tapia and Tony Wolters had two hits each for Colorado.

Bumgarner (1-4) didn’t allow a run for the second straight game to earn his first win of the season. The lefty allowed just two hits and struck out four to end his first year with Arizona.

INDIANS 8, PIRATES 6
Carlos Santana and Franmil Reyes each homered and drove in four runs as Cleveland erased a four-run deficit against visiting Pittsburgh and earned the fourth seed in the AL playoffs, hosting the New York Yankees.

Reyes hit a three-run homer, and Santana, who entered the game in a 4-for-41 funk, hit a two-run homer and two-run double. The Indians scored three runs in the sixth and three more in the seventh for their largest comeback win of the season.

Jose Osuna hit a solo homer and an RBI single, Ke’Bryan Hayes hit a solo homer and Adam Frazier added a two-run double for Pittsburgh.

RAYS 5, PHILLIES 0
Rookie Josh Fleming spun six scoreless innings as Tampa Bay Rays put an end to Philadelphia’s playoff hopes, finishing their three-game sweep in St. Petersburg, Fla.

In a career-long start, Fleming (5-0) recorded five strikeouts and allowed four hits and a walk. Relievers Oliver Drake, Aaron Loup and Ryan Sherriff each tossed a scoreless frame in the six-hit shutout for Tampa Bay, which finished the regular season by winning nine of its last 11 games. Kevan Smith, Mike Brosseau and Nate Lowe all added two hits. The Rays open the postseason against Toronto on Tuesday.

Phillies right-hander Aaron Nola (5-5) took the loss after giving up six hits and three runs in 3 2/3 innings. Bryce Harper had two hits. Philadelphia ended the regular season by losing seven of its final eight games.

A’S 6, MARINERS 2
Jake Lamb homered leading off the bottom of the seventh inning, sparking a three-run rally as Oakland defeated visiting Seattle.

Lamb’s homer to left-center field came on a 2-1 count against Seattle right-hander Yoshihisa Hirano (0-1) and broke a 2-2 tie. Sean Murphy followed by drawing a walk, and an out later, Tony Kemp doubled to right. Chad Pinder walked to load the bases before Mark Canha doubled to center to bring home two runs.

Canha drew a bases-loaded walk with two outs in the eighth for his fourth RBI of the day. A’s right-hander Yusmeiro Petit (2-1) got the victory with a scoreless inning of relief for the American League West champs.

ROYALS 3, TIGERS 1
Brady Singer allowed one run over seven innings to lead host Kansas City past Detroit in the regular-season finale for both teams.

Singer scattered three hits and struck out five without walking a batter to finish off a solid rookie season at 4-5. The Royals won three of the four games in the series between the two worst teams in the American League Central. Adalberto Mondesi had three hits and drove in two runs.

The Tigers were limited to just three hits and scored in the first on a two-out, RBI double by Brandon Dixon. Rookie left-hander Tarik Skubal (1-4) took the loss despite allowing just two runs on two hits with six strikeouts and one walk in five innings. — Reuters

NFL roundup: Bears go to 3-0 as Falcons fold again

September 28, 2020 | 4:58 pm

Nick Foles came off the bench and tossed three touchdown passes in the fourth quarter to rally the Chicago Bears, who sent the host Atlanta Falcons to another stunning, second-half collapse on Sunday.

Foles replaced an ineffective Mitchell Trubisky and completed the rally with a go-ahead, 28-yard touchdown pass to Anthony Miller with 1:53 left. Bears safety Tashaun Gipson intercepted Matt Ryan on the Falcons’ next drive to seal the victory.

Chicago (3-0) remained unbeaten after three weeks for the first time since 2013. Off to its worst start since 2007, Atlanta (0-3) led 26-10 entering the fourth quarter one week after blowing a 19-point halftime lead against the Dallas Cowboys.

Foles finished 16-of-29 passing for 188 yards with the three scores and one interception. Allen Robinson had 10 receptions for 123 yards for Chicago, which lost running back Tarik Cohen to a knee injury.

Matt Ryan completed 19 of 38 passes for 238 yards with one touchdown and the late interception, and Calvin Ridley had five receptions for 110 yards for Atlanta.

SEAHAWKS 38, COWBOYS 31
Russell Wilson threw five touchdown passes for the second consecutive week, including a go-ahead 29-yarder to DK Metcalf with 1:47 remaining, as Seattle edged visiting Dallas.

Ryan Neal intercepted a Dak Prescott pass in the end zone with six seconds remaining to clinch the victory for Seattle (3-0). The Cowboys fell to 1-2.

Wilson completed 27 of 40 passes for 315 yards, setting a pair of early season passing marks in the process. He became the first quarterback in NFL history to throw at least four touchdown passes in each of his team’s first three games, and his 14 touchdown passes are the most by any player through Week 3 in NFL history. Three of his touchdowns went to Tyler Lockett, who had nine receptions for 100 yards. Metcalf caught four passes for 110 yards, and Chris Carson rushed for a game-high 64 rushing yards on 14 carries.

BILLS 35, RAMS 32
Josh Allen threw four touchdown passes, including a scoring strike to Tyler Kroft with 15 seconds remaining, as Buffalo (3-0) remained undefeated by thwarting Los Angeles’ comeback attempt in Orchard Park, N.Y.

The Rams (2-1) overcame a 25-point, third-quarter deficit and took a late 32-28 lead before Allen drove the Bills 75 yards in the final four minutes for the game-winner. After the Bills’ offense was kept in check for much of the second half, Allen still was able to rally his team to cap a day when he was 24 of 33 for 311 yards with one interception.

Los Angeles appeared set to match the third-largest comeback in NFL history and the longest in franchise history when they scored 29 unanswered points, all in the second half. Their four consecutive TD drives came on a 1-yard run from quarterback Jared Goff, two Goff TD passes and a 1-yard, go-ahead score on the ground by Darrell Henderson Jr. Goff completed 23 of 32 passes for 321 yards and two touchdowns. Henderson rushed for 114 yards.

STEELERS 28, TEXANS 21
James Conner rushed for 109 yards and the go-ahead touchdown in the fourth quarter as host Pittsburgh pounded out a win over Houston.

Conner plowed in for a 12-yard touchdown with 6:24 remaining to cap a 12-play, 79-yard drive that chewed 7:03 off the clock and provided the Steelers (3-0) a 26-21 lead. Ben Roethlisberger completed a two-point conversion pass to JuJu Smith-Schuster that extended the lead to seven.

Pittsburgh rushed for 169 yards and ran 76 plays compared to just 47 for the Texans (0-3). Houston had little success running the football, totaling 29 yards on 15 attempts.

PATRIOTS 36, RAIDERS 20
Rex Burkhead scored a career-high three touchdowns and Sony Michel rushed for 117 yards on nine carries to lead New England over Las Vegas in Foxborough, Mass.

Burkhead ran for two scores and also caught a TD pass for the Patriots (2-1), who rushed for a season-best 250 yards. Cam Newton passed for 162 yards, with one touchdown and one interception, Nick Folk added three field goals and the Patriots defeated the Raiders for the sixth straight time.

Derek Carr was 24 of 32 passing for 261 yards and two touchdowns for Las Vegas (2-1). Hunter Renfrow and Foster Moreau caught touchdowns, and Josh Jacobs totaled 83 yards (71 rushing, 12 receiving) for the Raiders.

TITANS 31, VIKINGS 30
Stephen Gostkowski drilled a career-best six field goals — including a game-winning 55-yarder with 1:48 left — and Derrick Henry ran for 119 yards and his first two touchdowns of the season as Tennessee remained unbeaten by defeating winless Minnesota in Minneapolis.

Gostkowski kicked field goals of 39, 31, 30, 51, 54 and 55 yards without a miss, and he has hit game-winners in each of the first three weeks for the 3-0 Titans. Ryan Tannehill completed 23 of 37 passes for 321 yards and an interception for Tennessee.

Kirk Cousins passed for 251 yards, three touchdowns and two interceptions, Dalvin Cook rushed for a career-high 181 yards and a touchdown and rookie Justin Jefferson had seven receptions for 175 yards and a score to keep Minnesota (0-3) close.

BROWNS 34, WASHINGTON 20
Nick Chubb rushed for 108 yards and two touchdowns to spur Cleveland to a double-digit win over visiting Washington.

Baker Mayfield completed 16 of 23 passes for 156 yards and two touchdowns, and the Browns cashed in four Dwayne Haskins Jr. turnovers for 24 points to move to 2-1 for the first time since 2011. Cleveland will play next week with a record above .500 for the first time since Dec. 14, 2014.

Haskins completed 21 of 37 passes for 224 yards for Washington (1-2), but his third pick — snagged by Browns linebacker B.J. Goodson — set up Cleveland’s clinching touchdown.

49ERS 36, GIANTS 9
San Francisco completed a New York/New York sweep, riding a stingy defense and 343 passing yards from backup quarterback Nick Mullens for the victory at East Rutherford, N.J.

One week after the 49ers (2-1) beat the New York Jets, Mullens passed for one touchdown while backup running back Jeff Wilson Jr. scored on a run and a catch as San Francisco rolled up a 420-231 advantage in total yards despite missing more than a half-dozen key players, including quarterback Jimmy Garoppolo, tight end George Kittle, defensive end Nick Bosa and cornerback Richard Sherman.

Wilson’s two fourth-quarter scores iced the win, one coming on a 19-yard pass from Mullens and the second on a 2-yard run with 3:35 to play. Mullens finished 25 of 36 with no interceptions. Quarterback Daniel Jones led the Giants in rushing with five carries for 49 yards, but he struggled in the passing game, going 17 of 32 for 179 yards with one interception.

BENGALS 23, EAGLES 23
Neither Philadelphia nor visiting Cincinnati scored in a 10-minute overtime as they played to a tie.

Eagles kicker Jake Elliott lined up for a potential game-winning 59-yard field with 19 seconds remaining, but guard Matt Pryor was whistled for a false start. The Eagles opted to punt instead of attempting a 64-yard field goal. Quarterback Carson Wentz completed 29 of 47 passes for 225 yards, one touchdown and two interceptions for

Philadelphia (0-2-1). Wentz scored on a 7-yard run with 21 seconds left to send the game into OT.

The Bengals (0-2-1) were led by rookie quarterback Joe Burrow, who finished 31 of 44 for 312 yards and two touchdowns. Tee Higgins caught both TDs, and Tyler Boyd had 10 receptions for 125 yards.

COLTS 36, JETS 7
Philip Rivers threw his 400th career touchdown pass and also went over the 60,000-yard mark as Indianapolis crushed visiting New York.

Rivers reached the 400-touchdown mark with a 1-yard scoring pass to Mo Alie-Cox in the second quarter and passed the 60,000-yardage mark just before halftime. Rivers ranks sixth in NFL history in both categories. He completed 17 of 21 passes for 217 yards and one touchdown for the Colts (2-1).

Xavier Rhodes (two interceptions) and T.J. Carrie each returned interceptions for scores for Indianapolis. The Jets (0-3) had just 260 total yards and quarterback Sam Darnold finished 17 of 29 passing for 168 yards with one touchdown and three interceptions.

BUCCANEERS 28, BRONCOS 10
Tom Brady completed 25 of 38 passes for 297 yards and three touchdowns, Mike Evans caught two TD passes, and Tampa Bay won at Denver.

Chris Godwin had five receptions for 64 yards and a score, Scotty Miller had three catches for a game-high 83 yards and Ronald Jones II rushed for 53 yards for the Buccaneers (2-1). Tampa Bay tight end Rob Gronkowski was targeted seven times and finished with six catches for 48 yards.

Broncos quarterback Jeff Driskel was 17-for-30 for 176 yards with one touchdown and an interception before being replaced by Brett Rypien in the fourth quarter. Rypien went 8-for-9 for 53 yards and an interception. Tim Patrick had four receptions for 43 yards and a touchdown for Denver (0-3).

PANTHERS 21, CHARGERS 16
Joey Slye kicked five field goals, helping first-year Carolina coach Matt Rhule to his first NFL victory in the win over host Los Angeles (1-2).

The result snapped the Panthers’ 10-game losing streak that extended to last season. It also allowed Carolina (1-2) to avoid what would have been the fifth 0-3 start in franchise history.

Panthers quarterback Teddy Bridgewater was 22 of 28 for 235 yards and a touchdown. Chargers rookie quarterback Justin Herbert, in his second start in place of an injured Tyrod Taylor, went 35-for-49 for 330 yards with a touchdown and an interception.

LIONS 26, CARDINALS 23
Matt Prater made a 39-yard field goal as time expired, and Detroit snapped an 11-game losing streak with the victory over Arizona in Glendale, Ariz.

Arizona (2-1) was bidding for its first 3-0 start since 2015. The Lions (1-2) were winless since Oct. 27 of last year when they earned a home victory over the New York Giants.

The Lions took their game-winning drive into the red zone to set up Prater’s game-winning field goal, the 16th of his career. — Reuters

Messi back in scoring business in dream start for Koeman

September 28, 2020 | 4:56 pm

BARCELONA — Lionel Messi was back in scoring business for Barcelona on Sunday, leading them to a resounding 4-0 win at home against Villarreal in a near-perfect La Liga opener for the Catalans under new coach Ronald Koeman.

Teenage forward Ansu Fati was in inspirational form for Barca, combining with Jordi Alba to side-foot home first time into the net in the 15th minute and then striking again four minutes later with another ice-cool finish.

Fati, the 17-year-old in his second season in Barca’s first team after a stunning rise last year from the club’s youth set-up, then won the penalty which captain Messi dispatched to score the third in the 35th.

Villarreal defender Pau Torres scored an own goal right at the end of the first half to heap more pain on Unai Emery’s side and Barca continued to dominate the game in the second half without managing to add to their hefty advantage.

Koeman, who succeeded Quique Setien in August after the crushing 8-2 defeat to Bayern Munich in the Champions League, could hardly have hoped for a better start after the chaotic close season overshadowed by Messi’s attempt to leave the club.

The Argentine had unleashed his latest attack on the club’s hierarchy only on Friday, criticising the manner in which his former strike partner Luis Suarez had been forced out of the club.

Suarez enjoyed a superb debut at Atletico Madrid earlier on Sunday but here Barca did not seem to be missing the Uruguayan as they played with more pace and freedom than for many parts of last season, launching quickfire counters as well as building from the back.

“It was a good game for us especially in the first half, we were much better than them, we created lots of chances and scored four goals,” said Barca midfielder Sergio Busquets.

“We dropped our intensity a bit in the second half and they made things more difficult for us, but overall, we leave our first game with good sensations. We’re close to the team we want to be.”

The former Barca defender Koeman handed La Liga debuts to 17-year-old Pedri, Portuguese winger Francisco Trincao and Bosnian midfielder Miralem Pjanic in the second half.

Ousmane Dembele also came on for his first competitive appearance for Barca since last November after returning from hamstring surgery. — Reuters

Wawrinka thrashes Murray as big match falls flat

September 28, 2020 | 4:55 pm

PARIS — What was billed as an opening-day classic between two old warriors turned into a damp squib as Stan Wawrinka crushed Andy Murray (6-1 6-3 6-2) at the French Open on Sunday.

The last time they met on Court Philippe Chatrier, in the 2017 semi-final, Wawrinka came through a five-set slugfest but this time it proved a painfully one-sided affair as Murray suffered his equal worst Grand Slam beating.

When the opening three games on a near-empty showcourt took around 20 minutes, another battle royal looked possible between the players who both own three Grand Slam titles.

But as 16th seed Wawrinka, champion in Paris in 2015, raised his game, Murray, who wore black leggings on a chilly evening, capitulated alarmingly with his trademark battling qualities conspicuous by their absence.

“I need to have a long hard think about it. It’s not the sort of match I would just brush aside and not think about it,” Murray, whose previous worst loss was a 6-3 6-2 6-1 hammering at the hands of Rafa Nadal at the 2014 French Open, told reporters.

“I need to understand why the performance was like that.”

Murray’s defeat by Wawrinka in 2017 after an epic four and a half hour tussle proved almost the final straw for a crumbling hip that has since required two surgeries, the second of which has left him with a metal joint.

But the 33-year-old returned to singles action last year and actually beat Wawrinka to win the Antwerp title in October — a result that raised hopes he could again challenge at the top.

He was soundly beaten by young Canadian Felix Auger Aliassime in the second round of the U.S. Open though and was hit off court by 35-year-old Wawrinka who has also been forced to come back from knee surgery.

Murray landed only 36% of his first serves which was never going to end well against a player with Wawrinka’s bullish groundstrokes.

“That’s just not good enough, really, against anyone and especially someone as good as Stan,” he said.

The normally vocal Scot barely uttered a word during the match and even his usually sublime touch was off with one dropshot late in the second set failing to reach the net.

While Murray was a shadow of his former self, Wawrinka, who plays 61st-ranked Dominik Koepfer of Germany next, fired a warning that he could be a threat.

It was only his second Tour-level match since the resumption of tennis from the coronavirus shutdown, but he served magnificently and clubbed 42 winners to Murray’s 10.

With the conditions likely to remain heavy, Wawrinka will be confident of an extended run.

“I’ve had some amazing matches with Andy. I was expecting a tough match, but I was really focused. Even if the scoreboard is one-sided like today, you never know what can happen.

“It’s great to be back, great to feel that way, and looking forward for the next match.” — Reuters

Tough Gauff downs ninth seed Konta in Paris

September 28, 2020 | 4:55 pm

PARIS — American teenager Coco Gauff made an impressive return to the Grand Slam stage when she brushed aside last year’s semi-finalist Johanna Konta 6-3 6-3 in her main draw debut at the French Open to advance into the second round on Sunday.

Less than a month after a first-round exit at the US Open, Gauff was all business on a floodlit Court Suzanne Lenglen in front of a dozen spectators in chilly Parisian weather.

The 16-year-old, the youngest player in the main draw whose best result at a Grand Slam was reaching the fourth round at the Australian Open earlier this year, will next face Italian qualifier Martina Trevisan.

Gauff admitted she was nervous before entering the court, but a little chat with her father helped settle the jitters.

“Honestly, my dad told me something in the warmup,” she said. “His goal was to become an NBA player, and he didn’t make it. He told me, you’re living your dream, not everybody gets to do that, just have fun on the court.”

“That really changed my perspective. I was really nervous going into the match. That just calmed me down. I realized it’s just a tennis match. I’m doing some things that people wish they could do. Just go out there and enjoy it.”

Gauff got off to a flying start, breezing through the opening set before dropping serve early in the second, allowing British ninth seed Konta to move 2-0 up.

But the American broke straight back, and again in a nine-minute fifth game to move 3-2 up, following up on serve to lead 4-2.

She served for the match at 5-2 but Konta broke back for 5-3, only for the Briton to collapse in the following game, bowing out on the second match point when she netted a routine shot. — Reuters

There’s less than 1% chance of catching COVID-19 flying, says airline exec

September 28, 2020 | 3:03 pm

Chief executive officers and executives from every major American airline spoke this week at the Skift Global Forum, a virtual conference focused on the travel industry and—this year—its stunted rebound from the coronavirus disease 2019 (COVID-19) pandemic.

With only days remaining before the Oct. 1 deadline to extend Washington’s payroll support program, which has granted the sector $25 billion in bailouts since March, the tone was generally more urgent than optimistic.

“I’ve been through 9/11, through the financial crisis, through restructuring, through our merger with US Airways and the Max grounding,” said Maya Leibman, executive vice president and chief information officer of American Airlines, “and I can say with certainty that this one takes the cake, in terms of crises.”

United Air Holdings CEO Scott Kirby warned that furloughs stemming from the expiration of payroll support could result in lapsed licenses for pilots and other certification-reliant staff, hampering the ability to “go from 50 to 100 overnight” when the lights turn back on. He added that 100,000 jobs were currently at risk and said things aren’t likely to improve significantly “until there’s a widespread vaccine.”

Ed Bastian, the CEO of Delta Air Lines, made long-term predictions: A considerable portion of business travel will be lost forever—but so will change fees.

Still, JetBlue Airways sees light at the end of the tunnel and says it may not require a vaccine or even extensive testing schemes. According to company President Joanna Geraghty, research by Harvard’s T.H. Chan School of Public Health could do a great deal for consumer confidence. The institution, she said, has found that the combined benefits of indoor mask wearing and HEPA air filtration systems yield a “less than 1% risk of transmitting COVID in an aircraft.”

The Harvard study, sponsored by the aviation industry, appears to be ongoing; the CDC, meanwhile, released preliminary data this week showing that 11,000 people in the U.S. have been potentially exposed to the virus on flights.

Convincing travelers that it’s safe to fly could be a five-year battle, says the International Air Transport Association. However long it takes, one thing is clear: Aviation has the potential to return in better shape than before. Here’s how these carriers plan to do it, as summarized from their four panels.

Delta’s Bastian said that with 50% of domestic flights operational and running at around 30% of normal domestic passenger volume, the airline is seeing record-high customer service satisfaction scores. Before the pandemic, the average Net Promoter Score (NPS) for airlines was 44, on a scale of -100 to 100, measuring customer satisfaction via willingness to recommend a company’s product or services. In August, Delta’s score was 75, which Bastian credits to the airline’s commitment to mask compliance, electrostatic fogging, and blocking middle seats.

“All those steps are making a big difference in consumer confidence,” said Bastian. “Honestly, if you had asked me what the odds of Delta ever hitting a 75 in NPS, I’d say that’d be hard to imagine.”

The feedback indicates that some pandemic-borne policies may be worth holding on to. Nixed change fees may be a permanent change, along with the new antimicrobial TSA bins Delta airline introduced in five hubs earlier this month. “We’re trying to take what we can learn from this to make sure [that the positive feedback] continues on in the future,” Bastian said.

JetBlue’s Geraghty, meanwhile, suggested pivoting away from “perception based” policies such as blocking the middle seat—which the airline has promised to do on every flight through Oct. 15. She called instead for an awareness campaign, driven by Harvard’s research, that would establish flying to be as safe as a trip to the grocery store.

United’s Kirby agreed: “The facts are stunning how safe an airplane is.” But he doesn’t see a demand rebounding until a vaccine is widely adopted, unless airlines can “get past the bureaucratic finish line” when it comes to testing.

“We’re close to establishing a travel corridor between New York and London,” said the United CEO. “If we can do that in one place and inspire confidence, we can open up other parts of the world.”

Kirby said United is burning through $25 million a day—“better than most our competitors”—while operating in “an apocalyptic environment.” He’s making up some deficit by growing the cargo flying business and shifting routes away from popular business hubs to domestic leisure destinations that have good connectivity, such as Denver, all while fading the airline’s maligned $200 change fees.

“Right now, we’re flying about 45% of our schedule—we’re a smaller airline—and this is probably the size we’ll be for the next 15 months,” he explained. The benefit to consumers, if not to United’s bottom line, is that for as long as passenger loads remain low, so will airfares. (In July, the airline brought back beverage and snack service to all its cabins, though such premium perks as Saks Fifth Avenue bedding in business are still off the table.)

JetBlue is also focusing on affordability and convenience. “The benefit of being a smaller airline is being very nimble, adding and taking down route coverage as demand fluctuates,” said Geraghty, who has been overseeing an expansion into Newark Liberty International Airport that includes Mint premium service to the West Coast. “We’re doing what JetBlue does best: increasing service at fares customers can afford,” she said.

American Airlines, meanwhile, is compensating for reduced cabin staff and meal service by doubling down on technology. New features for the airline include touchless kiosks that use QR codes to bring check-in to an “applet” on your phone, the ability to print bag tags by scanning your mobile boarding pass, and adopting facial recognition technology to sidestep the need for some forms of ID verification.

Less glitzy but maybe even more useful, said Liebman: a mobile wallet feature that enables easy cancellations, voucher redemptions, and refund processing.

“The focus on clean, safe, touchless experiences will only continue to grow, post-pandemic,” she explained.

Each of the four executives voiced full-throated support for the idea that sustainability and social justice will define business far longer than the pandemic, and outlined commitments that may surprise the average flier—particularly at a time when cash is not exactly flowing.

All of JetBlue’s domestic aircraft were carbon neutral as of August, said Geraghty, who said the move is a first step. “Sustainable fuels have a ways to go. Air traffic control reform. Efficient air space. They’re all ways to improve the aviation industry’s footprint.”

While the company is proud that 55% of its crew represent diverse backgrounds, Geraghty expressed a desire to see more inclusive recruitment at the company’s top ranks, as well as within the company’s network of suppliers, airport restaurants, and other terminal-based businesses.

“As we rebuild our companies from the pandemic, we have to make sure we take everyone forward with us,” said Delta’s Bastian, who said 40% of his 75,000 employees are people of color, with 30% of them in positions of leadership. “Governments have a hard time with a lot of this, but businesses have an opportunity to pull people together,” he added.

Of the four airlines, Delta is ranked among the top 10% of companies in its size for diversity by Comparably, a workplace transparency tool, while American Airlines ranks in the top 50%. United ranks in the bottom 35%, JetBlue in the bottom 10%.

American’s Leibman talked up its “hackathons,” which seek to identify and employ talent from historically black colleges and universities, along with efforts to get young females interested in STEM education to create pipelines of diversity from early on.

Kirby similarly praised United’s Aviate program, which trains pilots from under-represented backgrounds, and he decried carbon offsets as a viable solution. “We were pitched one where they took your money, burned down a rainforest, and replaced it with palm oil plantations,” said Kirby. He also pointed at air traffic reform—which would create more direct and efficient routes—as a critical avenue of exploration.

“We are part of a global society, whether we like it or not,” he said, “and we have to solve global problems—not just one a time.” — Bloomberg

BTS members bank $55 million and ‘Hitman’ is now billionaire

September 28, 2020 | 12:34 pm

After blowing up the charts with “Dynamite,” the first English song from South Korean boy band BTS, Big Hit Entertainment Co. is having another moment.

This time, it’s with an initial public offering that is giving the company a market value of about $4 billion. The country’s largest listing in years took just hours for underwriters to find buyers for the available stock and priced on Monday at the top end of a marketed range. That’s even after COVID-19 forced BTS to cancel its world tour, and despite the risk that some of its stars may have to do military service.

“It seems reasonable to go for the higher price as the prospect for next year’s results seems positive,” said Sung Jun-won, an analyst at Shinhan Investment Corp. “Album sales have gone up in the absence of concerts, and BTS is at the center of the ongoing popularity.”

The offering is making Big Hit founder Bang Si-hyuk worth $1.4 billion, according to the Bloomberg Billionaires Index. The seven band members, all in their 20’s, are also getting about $8 million stakes after Mr. Bang gave each of them 68,385 shares in August.

Mr. Bang, 48, owns 43% of the Seoul-based music agency, while gaming company Netmarble Corp. holds 25% after investing $172 million two years ago. Netmarble’s founder, Bang Jun-hyuk, a relative of Big Hit’s Bang, is already one of South Korea’s richest people.

Big Hit declined to comment.

Mr. Bang, also known as “Hitman,” founded Big Hit in 2005 after a successful career as a music producer at JYP Entertainment Corp. Initially, the business was so quiet that artists stopped by the office just to play tennis matches on the company’s Nintendo Wii, Bang said in a 2017 Bloomberg interview. After almost going bankrupt, Big Hit’s first breakthrough came in 2009, when its 8Eight’s “Without a Heart” became a local hit.

BTS officially debuted in 2013 with its single album “2 Cool 4 Skool” and gained global attention when it grabbed the Top Social Artist award at the 2017 Billboard Music Awards. “Dynamite” became the No. 1 song on the Billboard Hot 100 chart when it debuted in August and was the first Asian act to top the U.S. ranking since Kyu Sakamoto’s “Sukiyaki” in 1963. The band’s rise is often attributed to an effective use of social media and legions of fans obsessively devoted to the band, known collectively as the Army. BTS generated more than 97% of Big Hit’s sales last year and almost 88% in the first half of 2020, the IPO filing showed.

“I get questions about how BTS has become so successful, and I’m curious too,” Mr. Bang said in a local TV show in 2018. “I didn’t imagine a future like now when I first planned BTS. The goal then wasn’t to make them as top artists.”

The coronavirus pandemic has dealt a blow to the broader music industry, with live concerts and performances canceled or postponed due to social-distancing restrictions put in place to prevent the virus from spreading.

But BTS churned out chart-topping songs and performances on shows such as the MTV Video Music Awards. The band managed to raise tens of millions of dollars by hosting a live streaming concert that drew 756,000 viewers around the globe to its own fan communication platform. Big Hit also set up content-based business models, with the group featuring in a Netmarble game and Samsung Electronics Co. releasing a BTS edition for its Galaxy S20 smartphone series.

Big Hit’s revenue slid just 8% in the six months through June to 294 billion won ($251 million), with concerts accounting for less than 1% of sales, compared with a third last year, according to the IPO filing.

The pandemic remains a concern, though. A worsening or prolonging of the health crisis could be negative for the company’s business plans or earnings, Big Hit warned in its prospectus.

The agency’s heavy reliance on BTS could also become a drawback, especially as its members still have to serve mandatory conscription to the country’s military — all South Korean male citizens between 18 and 28 have to for about two years. BTS’s oldest member, Jin, may be able to postpone his national service until the end of 2021, and a proposed bill this month could pave the way for pop artists to delay it until they’re 30.

For now, Big Hit is seeking to expand its portfolio by striking deals with other agencies and developing new talent. It acquired K-pop group management company Pledis Entertainment earlier this year and aims to launch a new group through a joint venture with CJ ENM Co. A new girl band will debut next year, the agency said.

“When the virus started, it was thought to be a crisis because they had to cancel almost everything that was scheduled. But it’s no longer considered as a crisis,” Shinhan’s Sung said. “Big Hit has showed that it can still make profits through online concerts and album sales without physical tours and concerts.” — Bloomberg

[B-SIDE Podcast] The Seven Commandments for public transport

September 28, 2020 | 11:08 am

Former Health Secretary Manuel M. Dayrit explains to BusinessWorld reporter Vann M. Villegas how the Department of Transportation (DOTr) came up with the Seven Commandments for public transportation and how these health measures are supposed to work together to make up for reducing the one-meter-apart rule.

DOTr suspended reduced physical distancing after President Rodrigo R. Duterte, on September 19, decided to stick to conventional wisdom, which says that people need to keep a distance of at least one meter from each other to limit the potential spread of coronavirus.

The Seven Commandments are:

Wear a proper face mask
Wear a face shield
No talking, no eating
Adequate ventilation
Frequent and proper disinfection
No symptomatic passengers
Observe physical distancing

Recorded remotely on September 18. Produced by Nina M. Diaz, Paolo L. Lopez, and Sam L. Marcelo.

BDO Foundation reaffirms commitment to rebuild lives

September 28, 2020 | 10:16 am

FILIPINOS are battle-tested for any type of crisis and the fight against COVID-19 is no different. Even if this unprecedented pandemic is still far from over sans the availability of a vaccine, hopes are still high with the presence of means to survive the fight.

A few months since the global pandemic reached the country, BDO Foundation has already launched a number of initiatives to help various sectors get back on their feet.

Giving its full support

BDO Foundation launched the Peso-for-Peso Donation Drive, a fundraising activity that ran from May until July 16, 2020. Proceeds were used to provide test kits and supplies to COVID-19 testing centers in underserved communities nationwide.

Under the drive, minimum donations of P500 and maximum donations of up to P1 million per donor were matched peso for peso by BDO Foundation. Donations from BDO and non-BDO customers, as well as BDO employees, poured in via the Bank’s

e-banking channels—BDO Online and Mobile Banking, as well as through BDO Credit Card, ATMs, and branches.

Mario Deriquito, president of BDO Foundation, said the initiative forms part of the Foundation’s advocacy to rebuild lives and provide support to hospitals, especially rural health units all over the Philippines.

Part of the money raised from the drive funded the donation of close to 10,000 PCR test kits for use of 10 hospitals across the country. These recipient-hospitals agreed to use the test kits for frontliners and people who cannot afford the high costs of testing.

The Peso-for-Peso Drive also funded the donation of food packs to 8,000 underprivileged families in Bacoor, Cavite; Santa Rosa, Laguna; San Jose del Monte, Bulacan; and Caloocan City.

On top of these efforts, BDO Foundation also supported the Philippine government’s RapidPass and ReliefAgad programs, highlighting the importance of collaboration between the private sector and the national government.

The Bank, through the Foundation, donated 300 smartphones with prepaid loads and 550 powerbanks to the Department of Science and Technology in support of the RapidPass System. RapidPass used QR codes, which facilitated the quick passage of the vehicles of over 500,000 authorized frontliners. The smartphones donated by the Foundation served as QR scanners at 180 checkpoints, where there were special lanes for frontliners.

Additionally, BDO Foundation also provided support to facilitate one-time passwords to users of ReliefAgad, a web application that allowed those entitled to a cash aid to register online and to receive their financial assistance safely and swiftly through electronic payment systems or directly from banks.

Response through partnership

Isolate, test, and trace comprise the backbone of an effective COVID-19 response, according to the World Health Organization. Many countries who have successfully contained the spread of the virus implemented such protocol. Now, the Philippines is no longer too far behind with the pilot implementation of Project ARK’s pooled RT-PCR testing in two key cities in the country, namely, Makati and Cebu.

Pooled testing combines swab samples from individuals and examines them together using a single reverse transcription polymerase chain reaction (RT-PCR) test kit. Pools of five, 10 or 20 persons are tested depending on the prevalence of COVID-19 in an area. Considered a game changer in the fight to contain the coronavirus, the method is seen to boost testing capacity, expedite tests and significantly reduce the cost of RT-PCR kits. Based on extensive research conducted by the Philippine Society of Pathologists, pooled testing is very effective.

BDO Foundation is funding the pilot implementation, covering the costs of automated extractor machines for each city, training of health workers on proper swabbing, PCR test kits, and other peripherals.

Apart from Go Negosyo, who spearheads Project ARK, BDO Foundation is in collaboration with the local governments of Makati and Cebu, the Philippine Children’s Medical Center, who will be its partner-testing center for the pilot implementation in Makati, and the University of Cebu Medical Center and Vicente Sotto Memorial Medical Center for the pilot implementation in Cebu.

Pilot implementation of RT-PCR pooled testing in Makati covered 6,000 individuals, mostly market vendors and public utility drivers. In Cebu, pilot implementation will cover 4,000 individuals, also market vendors and public utility drivers.

A worthy cause

BDO Unibank president and CEO Nestor V. Tan, who also sits as trustee of BDO Foundation, said the support for the pooled testing project comes with the belief that it will address the key areas of cost, accessibility, and timeliness. The implementation of the project is seen to not only benefit Cebu and Makati but will hopefully impact the whole country as well.

“We always believed that the fight against COVID is not the public sector’s alone or the private sector’s. It is a joint initiative by all of us working on the same direction. We are a big supporter of Go Negosyo’s Project ARK because clearly it is not about the trade-off between life and livelihood but it’s trying to address both because one cannot exist without the other,” he said.

Analysts’ expectations on policy rates (Oct. 1)

September 28, 2020 | 12:34 am

THE Bangko Sentral ng Pilipinas (BSP) is widely expected to leave benchmark interest rates untouched on Thursday, as it reserves its measures in case economic recovery lags, analysts said. Read the full story.

BSP to hold rates at record low — poll

September 28, 2020 | 12:34 am

By Luz Wendy T. Noble, Reporter

THE Bangko Sentral ng Pilipinas (BSP) is widely expected to leave benchmark interest rates untouched on Thursday, as it reserves its measures in case economic recovery lags, analysts said.

In a BusinessWorld poll held last week, 14 of 15 analysts said they expect the Monetary Board (MB) to keep interest rates steady at its fifth policy-setting review on Oct. 1.

“I suspect that ‘enough liquidity’ would be the flavor of the discussion in this October’s MB meeting. The demand side has been obviously still lagging and the supply side is clearly very well supported,” UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said.

Security Bank Corp. Chief Economist Robert Dan J. Roces said the Monetary Board will likely consider the third-quarter gross domestic product (GDP) report before making any policy adjustments.

After a record 16.5% contraction in the second quarter, the government expects third-quarter GDP to be slightly better. It is projecting a 4.5% to 6.6% drop in the economy this year.

The third-quarter GDP report will come out on Nov. 10.

“The interest pause is also to preserve monetary policy space in case the baseline expectations of shallowing recession in (second half) 2020 and rebound in 2021 fail to materialize,” Maybank Investment Bank Chief Economist Suhaimi Bin Ilias said.

BSP Governor Benjamin E. Diokno has said the central bank’s policy moves already infused some P1.4 trillion in liquidity, equivalent to 7.3% of the country’s GDP.

Despite this, bank lending has been tepid. In July, outstanding loans by big banks rose by 6.7%, easing for the fourth consecutive month and slower than the 9.6% expansion in June.

This further suggests that a rate cut is unlikely on Thursday, with the BSP likely to use other tools to provide much needed support during this crisis, said ANZ Research economist Kanika Bhatnagar.

“The insufficient transmission of cuts in the policy rate through the lending is a larger concern for now,” Ms. Bhatnagar said.

“We expect the central bank to provide support in other ways such as facilitating government borrowings and implement a loan moratorium to ease the debt servicing burden of borrowers,” she added.

Under Republic Act No. 11494, or the Bayanihan to Recover as One Act (Bayanihan II), banks and other covered institutions must implement a one-time, 60-day moratorium on all loan payments.

The law also allowed the BSP to directly lend up to 30% or about P850 billion of its average revenue to the National Government, higher than the 20% (or about P540 billion) of its average revenue allowed under the New Central Bank Act.

The BSP bought P300 billion in government securities with zero interest from the Bureau of the Treasury (BTr) under a repurchase agreement back in March.

“We think BSP will focus more on debt monetization for now after the cap for lending to the government was raised,” Mitsubishi UFJ Group Global Research analyst Sophia Ng said.

She also said the BSP is likely to leave the reserve requirement ratio for banks unchanged, with the next easing likely to come by the first quarter of next year.

At its Aug. 20 policy meeting, the MB kept rates on hold following 175 basis points (bps) of reduction earlier this year that brought down the overnight reverse repurchase, lending, and deposit facilities to record lows of 2.25%, 2.75% and 1.75% respectively.

Meanwhile, the reserve requirement for big banks has been cut by 200 bps to 12% while reserve requirements for thrift and rural lenders were slashed by 100 bps to 3% and 2%, respectively. The Monetary Board is allowed to bring down the rate by up to 400 bps this year.

Mr. Diokno earlier said the current policy stance may be kept for the next few quarters. He said the BSP still has bullets when needed and is committed to a “long-term low inflation regime” and will continue to do what they have done “for maybe another two years.”

Headline inflation in August stood at 2.4%, bringing the eight-month average to 2.5%. This is well within the 2-4% target set by the BSP but higher than the key interest rate of 2.25%.

Alex Holmes, an economist from Capital Economics, expects another easing this Thursday.

“We have penciled in a 25-bp cut, given the weakness of the recovery. As it stands we have one further rate cut penciled in after next Thursday, which would take the policy rate to 1.75%,” he said.

After Oct. 1, the Monetary Board has two more meetings this year — on Nov. 19 and Dec. 17.

Proposed listing rules may need more investor safeguards

September 28, 2020 | 12:33 am

The Philippine Stock Exchange, Inc. has proposed amendments to the listing rules on its main board and small, medium and emerging board. — COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.

By Denise A. Valdez, Senior Reporter

STOCK BROKERS welcomed the efforts of the Philippine Stock Exchange, Inc. (PSE) to ease listing rules to allow more companies to raise capital through the bourse, but warned of potential risks from relaxing some safeguards.

The bourse operator has proposed amendments to the listing rules on the PSE main board and small, medium and emerging (SME) board.

For listing on the main board, the PSE is proposing to remove the P500-million minimum market capitalization requirement, and to focus on a three-year cumulative net income instead of EBITDA (earnings before interest, taxes, depreciation and amortization). It also suggested that companies have a cumulative net income of P75 million in the past three years, a net income of P50 million in the past year before listing, as well as a minimum total stockholders’ equity of P500 million.

For listing on the SME board, the PSE is seeking to remove the requirement for a positive EBITDA in at least two of the past three years before listing. It will only keep requiring a three-year cumulative EBITDA of at least P15 million, and proposed as an alternative — to look at a company’s three-year cumulative operating revenue that should hit P150 million and grow at least 20% in the past two years.

The PSE is also proposing to remove the P100-million minimum authorized capital stock requirement and replace it with a P25-million paid-up capital to list on the SME board.

These measures are intended to increase the listings on the local bourse to become at par with its regional peers, the PSE said. It wants to encourage small and medium-sized enterprises to raise capital through the stock market.

AAA Southeast Equities, Inc. Research Head Christopher John Mangun said the rules would benefit small businesses and some startups.

“The previous listing requirements have always favored big companies. The new rules will allow smaller companies by capitalization that have attained profitability to list on the main board,” he said in an e-mail.

“The new changes will not only encourage more companies to go public but will also open different industry sectors to investors that have not been available before,” he added.

However, some flagged possible risks from the relaxed listing rules.

Jervin S. de Celis, a trader at Timson Securities, Inc. said that by making it easier for small businesses to list, there may be a higher risk that they would delist when challenged, putting investors on the line.

“While the lenient listing rule… will give investors more options where to place their money, I think imposing stricter rules to protect the investing public in this lenient listing requirements should also be discussed,” Mr. De Celis said in a message.

“As we all know, some companies struggle to earn…. When the tides change and some companies delist or are suspended and delisted by the PSE during rare instances, how are investors going to be protected?” he added.

Japhet Louis O. Tantiangco, a senior research analyst at Philstocks Financial, Inc., said it’s important to measure a company’s EBITDA, apart from only looking at net income and cumulative operating revenues.

“We believe that the EBITDA should still be highly considered since it is a metric that helps us see the profitability of the company based on its core operations,” Mr. Tantiangco said in a message.

“There’s the possibility that a company has posted strong EBITDA in the first of the three years but posted losses in the succeeding two. If the cumulative (EBITDA) of the three years still meets P15 million, it would still pass the requirement despite the poor trend,” he added.

Aside from the relaxed requirements, the PSE is pushing a “big brother” program under the new rules. Through this program, companies that do not meet the listing requirements but have a “significant growth potential” may list on the SME board through a sponsor, such as investment houses that will guide them in their public offering phase until three years after listing.

“This big brother model is adopted by various bourses in the region and we think that this will also work in our market…. With the sponsor model, we hope to help and support more SMEs grow their businesses,” PSE President and CEO Ramon S. Monzon said in a statement on Thursday.

It is also offering relief for listings to be filed in 2021 and 2022 by checking only the profitability of a company during any two fiscal years in its three most recent fiscal years, and exclude the year when it felt the coronavirus impact.

“By easing certain requirements, we hope to make a significant contribution to the country’s economic recovery process,” Mr. Monzon said.

1...9,0259,0269,027...14,245 Page 9,026 of 14,245