THE Securities and Exchange Commission (SEC) issued an order of revocation to Wealth on Web Company, or WOW Company, for its Ponzi-like investment scheme and for operating without a license or registration.

SEMIRARA Mining and Power Corp. (SMPC) has earmarked P4.6 billion to refleet its mine equipment, cornering more than half of its capital expenditure budget this year, its top official said on Monday.

AYALALAND Logistics Holdings Corp. reported a 19% increase in net income to P197 million in the first quarter of 2022, a year when it aims to boost its business performance.

METRO Pacific Tollways Corp.’s (MPTC) unit MPT South Corp. announced on Monday the appointment of Raul L. Ignacio, the former chief operating officer of NLEX Corp., as its new president and general manager.

COL FINANCIAL Group, Inc. reported on Monday that its net income surged by 38% to P582 million in 2021, driven by a jump in commission revenues.

Here’s a quick glance at how PSEi stocks fared on Monday, May 2, 2022.

SPACE Exploration Technologies Corp. (SpaceX) led by billionaire Elon Musk is eyeing to launch the first gateway for its satellites in the Philippines before the term of President Rodrigo R. Duterte ends in June, according to the Department of Trade and Industry (DTI).

DIVERSIFIED conglomerate Ayala Corp. is targeting to divest some assets and raise $1 billion by 2023 to fund future investments and to enhance core businesses in real estate, banking, telecommunications, and energy.

THE Court of Tax Appeals (CTA) affirmed the cancellation of the tax assessment on EDS Manufacturing, Inc. for the fiscal year 2010 worth P223.8 million, inclusive of interest and penalties.

PEPSI-COLA Products Philippines, Inc. (PCPPI), the exclusive manufacturer of PepsiCo beverages in the country, is focusing on sustaining its growth momentum this year, driven by its non-carbonated and soft drinks brands.

ALTHOUGH Elon Musk’s $44-billion deal to acquire Twitter, Inc. is still months away from closing, some of Mr. Musk’s fans are soliciting future employment at the social media platform via the mercurial entrepreneur’s Twitter feed.

INVESTORS were cautiously optimistic on SM Prime Holdings, Inc. last week as they expect higher first-quarter earnings amid looser movement curbs recently.