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ING Bank N.V.-Manila to venture into payments, lending services

ING BANK N.V.-Manila will venture into payments and lending in hopes to boost its all-digital banking print in the country.

In the first half of 2020, the Dutch lender will tap into the payments sector and will then enter the lending landscape for their retail clients in the second half of next year, according to ING Bank N.V.-Manila Country Head and Managing Director Hans B. Sicat.

“We also know that with the payment proposition, the deposit numbers as well as those who hesitated to put maybe huge amounts will actually put more amounts because they will be dealing with daily banking on the platform,” Mr. Sicat said in a press briefing in Taguig before the launch of ING’s Christmas installation in Bonifacio Global City.

In February, the bank rolled out its all-digital savings bank in the country. Since then, ING has been downloaded over a million times and a six-digit figure from those have actually poured savings into their accounts, Mr. Sicat said.

He added that there has been a pickup in the number of users that have started to put money into their ING account since they launched.

“[It] is indicative of Filipinos wanting to save more, the interest rate helps… We started out the proportion with 2.5% per annum earlier this year right, which is either infinitely larger or 10 times more than what you would get from a brick and mortar bank,” he said, noting that their current 4% annual interest rate is equivalent to the wholesale rate that banks get from the overnight reverse repurchase facility of the Bangko Sentral ng Pilipinas.

ING joins its virtual-only peers that allow bank clients to register onboard without having to go through the traditional process of filling out papers in brick-and-mortar branches of banks. Aside from their relatively higher interest rates, they also do not charge transaction fees from their customers.

Mr. Sicat said that 25-35-year-old users make up the bulk of their signups. There are also a number from the 35-45-year-old segment while the 50-year-old and above market make up a small chunk of their users.

He also shared the trend of catchup in countries where ING first set up as a wholesale lender before offering retail through an all-online savings account.

“A good example is between five to seven years, digital revenues kind of catch up to wholesale revenues in that period and then usually exceeded,” he explained.

For their payment proposition eyed to take off by the first half of 2020, Mr. Sicat said that they will offer ease of use and no charging fees for their clients.

“We hope that the ease of using it will also be hopefully your primary stop to not just your savings but also your payments, an integrated platform. It’ll be a very wide range of billers,” he said.

Without going into details, Mr. Sicat said they will forge partnerships with “typical names of billers” involved in utilities, water, as well as financial institutions.

As for the loan offers, he hinted that they are also looking to have it onboard the app as well as the credit granting process.

“Hopefully, that will be done in a very short period of literally minutes. We’re still calibrating on the appropriate levels and we’ll give you the details in time,” he added. — Luz Wendy T. Noble

Mexican firms focus on trade deal’s labor provisions

MEXICO CITY/WASHINGTON — Mexican business leaders on Wednesday began poring over texts of a new stricter trade deal with the United States and Canada, looking for details of how more intrusive enforcement of labor rules in Mexico would affect their operations.

Moises Kalach, a leader of the CCE business lobby, which represented Mexico’s private sector in the negotiation of the US-Mexico-Canada Agreement (USMCA) that will replace the 1994 North American Free Trade Agreement (NAFTA), said that businesses felt sidelined.

“We would have liked to have been (in the negotiations) more … to give our opinion more. This is the reality, we participated but not as much as we would have liked,” said Kalach.

USMCA was signed more than a year ago to replace NAFTA, but Democrats controlling the US House of Representatives insisted on major changes to labor and environmental enforcement before bringing it to a vote.

In an unusual display of bipartisan and cross-border cooperation in the Trump era of global trade conflicts, top officials from Canada, Mexico and the United States on Tuesday signed a fresh overhaul of the quarter-century-old trade pact.

Some Mexican business groups bemoaned a lack of clarity and conflicting information on how the rules would actually be enforced under the deal, the first text of which only became public on Wednesday. An official at the truck and bus manufacturing association said he was studying the accord. CCE said it was still waiting for the documents to be translated into Spanish by lawyers.

Before seeing the fine print, Gustavo Hoyos, president of employers federation Coparmex and a vocal critic of President Andres Manuel Lopez Obrador, called the government “a bad negotiator.”

Others were more positive.

“There were many things we would have liked to have seen but in general we can say this deal is very beneficial for Mexico, it will bring investment to the country and I have no doubt will make the North American region more competitive,” said Antonio del Valle, head of the Mexican Business Council.

Mexico’s Economy Minister Graciela Marquez predicted the deal would boost Mexico’s flagging growth once it becomes law. US and Canadian lawmakers signaled the deal may not reach a vote until early next year.

Mexico’s peso was up more than 0.5% on Wednesday at 19.47 pesos to the dollar, after strengthening for five straight days ahead of the deal on reports of successful talks. The Mexican benchmark stock index .MXX rose more than 0.7%, after gaining 1.63% on Tuesday, its biggest daily rise in more than two months. Mexican 10-year bonds were steady, after rising four basis points on Tuesday, trading with a yield of 6.85%.

ENFORCEMENT MECHANISM
The deal included new bilateral mechanisms under which the United States and Canada can create panels of labor experts to investigate union complaints at Mexican factories.

Mexico’s Foreign Minister Marcelo Ebrard said that under changes to the United States-Mexico-Canada Agreement (USMCA), Mexico will be able to bring labor complaints against companies and workplaces in the United States. A Canadian source said the mechanism established with Canada was also reciprocal.

The experts, who would include foreigners and be chosen from a list provided by each of the affected countries, will be able to penalize goods and services exported from that plant if violations of the freedom to organize or collectively bargain are detected, according to the amended agreement posted on the United States Trade Representative’s website.

Mexico’s chief negotiator Jesus Seade sought to play down the impact of such “rapid panels,” saying he had fended off US union demands to place foreign labor inspectors in Mexican factories.

The rapid panels would be formed after three months and only in response to repeated complaints, Seade said.

Canada said that, under the new deal, the burden of proof has been reversed, in that failure to comply with an obligation in the chapter is now presumed to be “in a manner affecting trade or investment between the parties,” unless the defending party can demonstrate otherwise.

“If I’m reading this correctly, now the country defending itself is guilty until proven otherwise,” said a former senior Mexican USMCA negotiator.

“This can become an incentive to block trade … you just gave the US an instrument to impose tariffs and close markets, because it is going to be accusing you of not complying with your labor standards.”

Duncan Wood, director of the Wilson Center’s Mexico Institute in Washington, said “that while the word ‘inspections’ has been avoided, ‘facility-based enforcement’ and in-country ‘labor attaches’ will raise the specter of foreign interference for some in Mexico.” — Reuters

Netflix to create series on the rise of Spotify

THE STREAMING singularity has arrived, as the largest video service is making a show about the largest audio service.

Netflix Inc. will run a limited series about the rise of Spotify Technology SA. The yet-untitled show is inspired by the book Spotify Untold, written by two Swedish business reporters.

“The founding tale of Spotify is a great example of how a local story can have a global impact,” Tesha Crawford, Netflix’s director of international originals for northern Europe, said in a statement.

Los Gatos, California-based Netflix said the series will depict how Daniel Ek, now Spotify’s chief executive officer, and his partner Martin Lorentzon started the Stockholm-based audio service and thrived by offering legal streamed music in the face of then-rampant song piracy.

Spotify, founded in 2006, now has more than 113 million paying subscribers worldwide. Netflix, which got its start in 1997 as a DVD-by-mail service, has more than 158 million subscribers.

The Spotify series will be in both Swedish and English and will be produced by Yellow Bird UK, the company behind another forthcoming Netflix series, Young Wallander. Netflix didn’t provide a premiere date. — Bloomberg

Toyota Philippines president steps down

TOYOTA Motor Philippines Corp. (TMP) will have a change of leadership next year as its president Satoru Suzuki steps down by the end of December.

“[It] is with both sadness and gratitude that I announce my time with Toyota Motor Philippines has come to an end. Taking up the mantle of Presidency from 2016 to 2019 proved to be a challenging journey made easy with everyone here by my side,” Mr. Suzuki said in a TMP statement quoting a speech that he made during a Dec. 10 event.

“I will leave this stage knowing with full confidence that Toyota and the automotive industry are in good hands,” he added.

TMP said it will publicly announce the new president of the company “early next year.”

TMP Chairman Alfred V. Ty said Mr. Suzuki was a valuable asset for the company, having led it to several successes such as the “strong resurgence of local parts manufacturing, grassroots motorsports and environmental initiatives… (and) introduction of key global models to the Philippine market.”

“His hands-on leadership approach propelled Toyota to rebound from last year’s tough market conditions, and we are fortunate to have a President who truly led by example,” Mr. Ty was quoted in the statement as saying.

TMP was able to sell 114,117 car units in the nine-month period ending September, up 4.3% from last year.

It is investing P4.5 billion to build a new hub in Luzon to expand its current stockyard operations in Laguna. The new facility is scheduled to open by late 2020.

TMP is part of the Ty family-led GT Capital Holdings, Inc., which reported a 40% rise in its year-to-date attributable net income to P15.33 billion.

Shares in GT Capital at the stock exchange increased 17 points or 1.95% to P891 each on Thursday. — Denise A. Valdez

PhilRatings gives BPI Family Savings’ P35-billion bonds top credit rating

BANK of the Philippine Islands’ thrift banking arm is raising funds from bonds.

THE THRIFT BANKING arm of Ayala-led Bank of the Philippine Islands (BPI) has been awarded the top credit rating by a local debt watcher for its P35-billion bonds.

Philippine Rating Services Corp. (PhilRatings) said in a statement yesterday it has given BPI Family Savings Bank a “PRS Aaa (corp)” rating with a stable outlook for its proposed three-year shelf registration securities program.

The rating and outlook mean BPI Family Savings Bank is believed to have a “very strong capacity” to meet its financial commitments in the next 12 months.

“The assigned issuer rating to (BPI Family Savings Bank) considers the bank’s solid brand equity; highly-experienced Board and management; sound capitalization; close strategic link with its strong Parent; and the favorable outlook for the consumer market,” PhilRatings said.

The company is undertaking a P35-billion bond program, where the first tranche valued at P2 billion was sold last month and is scheduled to list at the Philippine Dealing & Exchange Corp. on Dec. 16.

PhilRatings said its high credit rating for the thrift bank takes into account the company’s standing as the largest in the country with 21.9% market share in terms of assets, 23.9% in net loans and receivables, 23.4% in deposits and 19.7% in capital.

It also considered the company’s “leading presence” across the country, noting that it has 1,108 branches and branch-lite units, three international offices 2,900 ATMs and cash acceptance machines.

The stability of its parent BPI is also perceived by PhilRatings as a reliable support for the thrift bank, both in terms of financials and management.

“Common directors between (BPI Family Savings Bank) and BPI ensure that (its) strategic direction is line with the long-term goals of the BPI Group,” it said.

BPI posted a net income of P22.03 billion in the nine months to September, up 29.5% year-on-year, as its third- quarter earnings grew 38.6% to P8.29 billion.

“PhilRatings shall continuously monitor developments relating to (BPI Family Savings Bank) and may change the rating at any time, should circumstances warrant a change,” it said.

Shares in BPI at the stock exchange rose P1.50 or 1.69% to P90.50 each on Thursday. — Denise A. Valdez

US chief executives back revised USMCA trade deal

WASHINGTON — The Business Roundtable, a trade group of top US chief executives, announced Wednesday its members backed the revised US-Mexico-Canada (USMCA) trade deal after negotiators brought the hard-won agreement across the finishing line.

Top officials of the three countries signed the overhaul of the 1994 North American Free Trade Agreement (NAFTA), which labor unions, industry groups, lawmakers and even environmental groups fought hard to improve, on Tuesday.

“Business Roundtable urges swift passage of USMCA implementing legislation because the agreement in its totality preserves and strengthens North American trade and investment,” said Joshua Bolten, the group’s president and CEO.

“We will work with Congress and the administration to get this done.”

Ahead of fresh US tariffs on Chinese imports that are due to kick in at the end of the week, group chairman Jamie Dimon, chief executive at JPMorgan, said he expected phase-one talks of a trade deal between Washington and Beijing to be finalized, adding that not doing so would be “negative” for markets.

During the group’s quarterly meeting in Washington, Dimon added that recent interest rate cuts by the Federal Reserve help the economy “a little bit” but “not as much as people expect.”

His comments came as the group’s quarterly survey found CEO sentiment dropped for the seventh quarter in a row, as executives said ongoing trade uncertainty and the global economic slowdown were tempering their plans.

Speaking with reporters, Dimon again pushed the central bank to reconsider its liquidity rules for banks after rates spiked in overnight funding markets this fall. He warned the issues seen in the “repo” market could spill over into other financial markets in a weaker economy.

“They should look at recalibrating all the rules and regulations that do affect the liquidity in the market. This is a minor one, the repo market. But it would affect other markets, and it could, that wouldn’t be so minor,” he said.

The Fed has so far resisted industry calls to reconsider its rules, with top officials saying the rate spikes were primarily due to technical factors.

However, Fed Vice Chairman Randal Quarles is reviewing how its supervisors monitor banks, and whether their interactions may have pushed banks to steer clear of the overnight markets, which underpin much of the US financial system, by helping banks meet daily liquidity needs.

Dimon said the Fed’s current policy of providing temporary support to the market is insufficient.

“I don’t think they’ve fixed it so much as put a Band-Aid on it every day,” he said. “But they’re aware of it.” — Reuters

Ed Sheeran crowned UK’s artist of the decade after 79 weeks at No. 1

LONDON — Singer-songwriter Ed Sheeran has been named the “UK’s Official Number 1 Artist of the Decade” after a record-breaking run of hits, the Official Charts Company said on Wednesday.

His global smash “Shape of You” — which spent 14 weeks at No. 1 in Britain in 2017 — was named top song of the past 10 years.

And he scooped the “Official Chart Record Breaker” award for the most number 1 singles and albums from 2010-2019. In all, his releases spent 79 weeks in the top spot over that period, the company, which compiles Britain’s weekly charts, added.

Previous recipients of that award include Paul McCartney and Justin Bieber.

“At the start of the decade, he was a little known (albeit highly rated) young 18-year-old lad from Suffolk — but his catalog of achievements since then are genuinely remarkable,” Martin Talbot, chief executive of the Official Charts Company, said.

Sheeran first entered the UK charts in 2011 with debut single “The A Team.” He has since had eight UK No. 1 singles. His four studio albums each topped the British charts.

“Thank you to everyone who’s supported me over the past 10 years, especially my amazing fans. Here’s to the next 10,” Sheeran said in a statement about the awards.

“Shape of You” topped the Official Charts Company’s list of the top 100 biggest songs of the decade, followed by “Uptown Funk” by Mark Ronson, featuring Bruno Mars.

Two other Sheeran songs, “Thinking Out Loud” and “Perfect,” also made the top 10 of that list.

Adele’s 21 and 25 took the first two spots in the top 100 biggest albums of the decade. The British songstress picked up six Grammys for 21 and five of the awards for 25, with both records topping charts around the world.

Three of Sheeran’s albums made the top 10. — Reuters

Tokyo Gas plans to step up overseas expansion in renewables, LNG

TOKYO — Distributor Tokyo Gas Co. Ltd. will step up overseas expansion, boosting stakes in renewable energy, liquefied natural gas (LNG) development and infrastructure projects, to triple its overseas profit by 2030, its president said.

Last month, Japan’s biggest seller of city gas unveiled a long-term vision that targets a rise of 67% in operating profit by 2030 through overseas expansion.

Tokyo Gas and other utilities are grappling with falling demand at home as Japan ages rapidly with a declining birthrate, while the liberalization of its energy markets has spurred competition among old-guard utilities.

“Our priority is to increase renewables,” Tokyo Gas President Takashi Uchida told Reuters in an interview on Tuesday.

It wants renewables to generate 40% of its overseas profits of about 40 billion yen ($368 million) by 2030.

The company’s renewable assets are only 490,000 kilowatt (kW) generation capacity, mainly solar and onshore wind power assets in Mexico, but it aims to raise global renewable assets tenfold to 5 million kW by 2030.

“We are interested in entering offshore wind projects,” Uchida said.

Another key source of growth will be LNG upstream assets and infrastructure projects in Southeast Asia, he added.

“Our focus is to invest in foreign companies in a way (that) we have control, instead of just buying stakes in upstream assets, as they could become engines for our future growth,” Uchida said.

Tokyo Gas is in final talks with First Gen Corp, a clean energy producer based in the Philippines, to build an LNG terminal there, he said.

“We want to do it as soon as possible, but we still need to discuss on how much risk we can take,” Uchida said, adding that he expected a final investment decision once power purchase agreements have been secured.

Tokyo Gas, which imports about 14 million tonnes of LNG a year, is likely to announce a deal “soon” to raise its stake in an existing LNG upstream project, Uchida said, without identifying it.

Another target is to boost LNG trading to 5 million tonnes by 2030 from practically nil now, to generate 10 billion yen in profit, he said.

“We are not seeking profits from financial trading and all of our trades will be linked with physical supplies,” Uchida said.

The company’s main activities in this area will be swapping cargoes with overseas partners or making seasonal swaps with other utilities, he said. It already has a trading desk with two staff in Singapore, but may hire more traders, Uchida added. — Reuters

Shareholders lash Westpac over laundering scandal

SYDNEY — Westpac Banking Corp. on Thursday became the biggest Australian company to have shareholders vote down its executive pay for a second year, at a marathon annual meeting dominated by investor outrage over a child exploitation payments scandal.

The “second strike” delivers a symbolic blow to the country’s oldest bank and fifth-largest listed company as it seeks to reassure owners and customers it can find reasons and solutions for its deepest crisis in decades.

It also puts a cloud over the annual meetings next week of rivals Australia and New Zealand Banking Group Ltd. (ANZ) and National Australia Bank Ltd. (NAB), with investors expecting details of NAB’s engagement with regulators as it has also flagged weakness in money-laundering controls.

“We are shattered by what has happened,” Westpac Chairman Lindsay Maxsted told about 600 investors at an emotional six-hour meeting in Sydney.

“It’s a total anathema to what we stand for,” added Mr. Maxsted, who brought forward his retirement in light of the scandal.

Westpac was sued three weeks ago by Australian regulators who cited 23 million breaches of anti-money laundering laws, in the country’s biggest ever such scandal. Westpac has said it accepts most of the regulator’s assertions — which included the facilitation of payments to child exploiters — and its chief executive and compliance head have quit.

The bombshell lawsuit, coming as the country was still digesting a damaging financial misconduct inquiry, has sent Westpac’s shares down 9.3% in the three weeks since it was announced, wiping A$8.8 billion off its market value. The bank could pay a fine of more than A$1 billion ($678.60 million), analysts have said.

The stock closed down another 1.2% on Thursday, while the broader Australian market was down 0.7%.

“All of us are members and owners of a company that, even at the best, you could say accidentally allowed child abuse to go on for five years,” said Chris Schott, a former Australian senator, at the meeting in his capacity as a shareholder.

“It’s inconceivable someone didn’t have the wit to think something was wrong,” added Mr. Schott, who told the meeting he voted for the establishment of AUSTRAC while in office.

Several Westpac directors narrowly survived protest votes against their reelection but shareholders voted down the company’s executive pay plans for a second year running. Under Australian law, a second vote against executive pay triggers a separate vote on whether to remove the whole board.

Just 9% of investors voted for the “board spill” motion, though, due to support from large institutional shareholders, sparing the company further humiliation and upheaval at the top.

“We acknowledge we should have implemented more robust transaction monitoring earlier than we did. This would have generated more suspicious matter reports to AUSTRAC,” Mr. Maxsted said earlier in prepared remarks.

He said the company would withhold all or part of its executive bonuses for 2019, subject to an assessment of accountability for the transactions at the heart of the AUSTRAC lawsuit.

Asked at the meeting whether the board would indeed forego fees this year, Mr. Maxsted said “we will act in the best interests of the company.” That drew a barrage of “just go” responses from a number of shareholders, with another later shouting, “You’re asleep at the wheel, mate.”

The biggest vote against a director was in relation to Peter Marriott, a former finance chief of ANZ who has been on the board since 2013 when the payments at the center of the scandal began. He was reelected with just 58% of the vote, below the near-unanimous support large company directors typically receive.

“All of us continue to reel from the devastating events over the past few weeks. These events are unprecedented as are the headwinds facing the financial services sector in the past few years,” Mr. Marriott said. — Reuters

Toyota names new North America CEO as industry faces unprecedented shift to electric vehicles

TOYOTA Motor Corp. on Wednesday said its North America chief executive, Jim Lentz, would retire on April 1, and tasked the unit’s chief operating officer, Tetsuo “Ted” Ogawa, with navigating an industry shift to electrification and automation.

Ogawa has worked for Japan’s biggest automaker and the United States’ third-largest vehicle seller in a number of posts since 1984. He was appointed to his current role at Toyota Motor North America in November 2018.

In a statement, he said Lentz “was instrumental in the restructuring and bringing our North American region together.”

Lentz, a 38-year-veteran of Toyota, said his long tenure including almost seven years at the helm was in part a function of the automaker’s culture.

“We have a long-term view of things and try to keep our eyes on the horizon and not get sea sick with all the dips and twists and turns,” Lentz, 64, said in an interview. “The new normal in the world is a little more chaotic and so we have to do a better job of scenario planning.”

While the industry is facing a dramatically different future with the rise of electric, connected and autonomous vehicles as well as mobility as a service, Lentz said he saw the change as more evolutionary and revolutionary.

Lentz also noted automakers are still grappling with the continuing shift in US consumer preference toward sport utility vehicles (SUVs).

Toyota is building a $1.6 billion joint venture assembly plant in Alabama with compatriot Mazda Motor Corp. (7261.T) that it expects to open in 2021. In July, Toyota said it would build SUVs at the plant rather than its Corolla line of cars.

Lentz said overall United States auto sales were around 400,000 vehicles higher than the firm forecast last year, and estimated the industry would sell about 17 million vehicles this year.

IMPROVED RELATIONS
Lentz guided Toyota in the United States through a number of challenges, most notably the 2010 unintended acceleration crisis that prompted the recall of millions of vehicles.

In 2014, Toyota agreed to pay a $1.2 billion fine and entered into a deferred prosecution agreement with the US Justice Department after it admitted to misleading consumers in relation to the matter.

More recently, Toyota under Lentz improved its relationship with United States President Donald Trump and helped stave off vehicle import tariffs. Lentz attended a White House event in July after presidential adviser Ivanka Trump toured Toyota’s Kentucky operations in March. — Reuters

Splitting image

Marriage Story
Directed by Noah Baumbach
Netflix

NOAH BAUMBACH’s Marriage Story starts positively poised: Charlie (Adam Driver) and then Nicole (Scarlett Johansson) reading offscreen what they like about each other while Baumbach runs a series of images as illustrative commentary. Then the kicker — this is the start of a mediator session where the two are in the process of divorce, and Nicole refuses to read to Charles what she’s so movingly and eloquently written. The ending of the relationship, not its affirmation.

It’s a painful process, apparently biographical (Baumbach based details on his divorce from actress Jennifer Jason Leigh) and not altogether grim — the scene where a court-appointed evaluator visits Charlie having dinner with his son Henry (Azhy Robertson) is a study in slow-fuse disaster; Wallace Shawn is a welcome presence as the endlessly anecdotal Frank (apparently he won a Tony at 27 and met Elia Kazan, Mike Nichols, Marlene Dietrich — Shawn may be consciousness-streaming biographical details here); Julie Hagerty as Nicole’s mother Sandra is hilariously subversive (for one thing she likes Charlie more than she’s supposed to).

The comedy is sharpish, the drama not a little self-indulgent. Nicole has a monologue early in the film where she explains why she fell in love then eventually left her husband that Baumbach shoots first in a series of brief shots then (when the details are being agonizingly dragged out) in long take. It’s an intricately written scene and you have to give Johansson props for pulling it off; the moment provides one with an image memory of what Nicole is all about, because eventually the film shades into an extended point-of-view narrative focused on Charlie — what Baumbach, I suppose, intended all along. Women leaving their husbands is at least as old as Ibsen’s A Doll’s House and movies have dealt with troubled marriages as far back as Bergman’s Scenes from a Marriage (which this film alludes to once or twice) and before that Dreyer’s Master of the House — drama, after all, finds more fertile ground amongst unhappy people. Most folks thinking of divorce told from the man’s point of view cite Kramer vs. Kramer (after all it won that precious gold-plated doorstop) but filmmakers (mostly male) have been telling the story at least as far back as Truffaut’s Love on the Run.

So — this is Charlie’s story more than Nicole’s. Charlie is the director after all, Nicole a mere actress; Charlie has a vision, Nicole just wants a version of herself she can recognize apart from her husband; Charlie is a self-made New Yorker, Nicole left a privileged life in LA (to which she eventually returns). At a certain point you want to ask: wouldn’t it be interesting — perhaps more challenging — if Baumbach had tried to tell Nicole’s story instead?

Not impossible — Bergman was reportedly a womanizer and difficult husband (to put it mildly) but you would never guess that from the films — there the women are realized with preternatural sensitivity, so much so you wonder: maybe Bergman being such a bastard is part and parcel of his penetrating insight into the opposite sex? Or is he possessed of powers of empathy independent of his conscience and conduct in real life — maybe beyond his powers to apply to his own life?

I don’t know; I can only ask. One thing Baumbach does bring to the party is a more nuanced view of divorce lawyers — not the men, though Alan Alda’s legal mensch Bert Spitz and Ray Liotta’s courtroom attack dog Jay Marotta are vividly sketched cartoons. Laura Dern’s Nora, however, is, I submit, a more interesting creation: a charmer with mind like steel trap, with a distinct and comically feminist point of view (at one point she delivers a diatribe that ends with a sideswipe at the Virgin Mary) that you can’t quite make up your mind functions as either villainess or heroine. She champions Nicole, sometimes above and beyond what Nicole wants; she, like Alda’s Spitz, has a human side to her, which she reveals and hides whenever necessary.

Lemme just put the film aside and say that while the cast as a whole delivers, Dern in recent years has been knocking one after another out of the park; aside from this ambiguously shaded legal shark, she burned a brief vivid hole on the big screen in The Last Jedi. Arguably her best work however has been with David Lynch — in a starmaking role in the little-seen Inland Empire, making a spectacular entrance as the long-absent Diane in Twin Peaks: The Return. The woman is funny and fearless both in her career and artistic choices, an intimidating combination.

I’ve heard Kramer vs. Kramer cited in connection with this picture, for obvious reasons; I’ve also heard Annie Hall mentioned, for the East Coast West Coast rivalry (West comes off ostensibly better, though East retains a cultural self-righteousness that — in my book anyway — is at least partly earned). No one seems to remember Shoot the Moon, Alan Parker and Bo Goldman’s story of how divorce affects a family. Alan Parker isn’t known for restraint — and if you’ve seen Midnight Express, The Wall, and Mississippi Burning you know what I mean — but he’s miraculously low key here, his admittedly distinctive filmmaking talent working away in the background to lend the understated drama a pleasing visual hum. Goldman’s script was based on experiences with dysfunctional couples, and it’s perfectly balanced between coolly ironic distance and devastating intimacy. And while Johansson acquits herself well and Adam Driver is his usual excellent self, no, they are not Diane Keaton and Albert Finney. Maybe the only thing missing here that Baumbach nailed are the divorce lawyers — I’ll give him that much credit.

Smart leads in 4G availability: OpenSignal

A recent report by OpenSignal, a United Kingdom-based wireless coverage mapping company, showed PLDT wireless subsidiary Smart Communications, Inc. (Smart) now leads in terms of availability of its fourth-generation (4G) network in both rural and urban areas in the Philippines.

In its analysis conducted from Sept. 1 to Nov. 30., OpenSignal said Smart’s 4G availability, or the time users spend being connected to the 4G network, is 14% higher in urban areas compared with rural areas.

OpenSignal said that during the three-month period, Smart’s 4G availability in rural areas was 70.1% compared with Globe Telecom, Inc.’s 64.8%. In urban areas, Smart scored 82.5% while Globe scored 80.3%.

The mobile analytics firm noted the difference between rural and urban experience highlights the challenge in the quality of mobile experience in rural regions “regardless of operator.”

“(This) provides evidence for why initiatives such as sharing cell towers in rural areas are an important tool to help narrow gaps in the quality of the mobile experience between users in metro areas and those in regional and rural areas,” OpenSignal said.

In terms of the download speed, OpenSignal said the results were “very polarized” across regions, noting that Smart users in rural areas experienced a faster speed than Globe except in Central Luzon, Central Visayas, and Bangsamoro Autonomous Region of Muslim Mindanao (BARMM) wherein the networks tied.

The report noted that in Region 12 and Cagayan, the download speed experience of Smart users “was more than twice as fast as the speed our Globe users saw.”

Users in urban areas experienced “more competitive speeds” on Globe network, OpenSignal said, noting that the network even beat Smart in the Cordillera Administrative Region (CAR).

“But Smart users’ faster speeds made it untouchable in ten urban regions, including the National Capital Region, where our users on Smart benefited from an impressive 15.2 Mbps, an enviable 5.6 Mbps faster than the speeds our Globe users saw in the capital,” the report said.

OpenSignal noted that Smart’s 82% increase in 4G data users last year has resulted in “increased congestion and lower average speeds.”

In a statement, Smart attributed its “sustained improvement” to its higher capital expenditures program this year estimated at P78.4 billion, which includes investments in network, IT systems, and increased LTE coverage and capacity, among others.

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. — Arjay L. Balinbin