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Wirecard PH trustee claims "frame-up", BSP asks banks to stop hiring fraudsters (Wednesday, June 24)

Happy DAY_OF_THE_WEEK, Barkada --

The PSE closed down 50 points to 6298 ▼0.78%.

Thanks to Roi for the email and the compliments! Roi was asking for more info on the Atlus Property Ventures "IPO by way of introduction", and I know I said that I'd write more about that yesterday, but the truth is that I just don't understand it well enough yet to write about it. I've never even looked at one of these before in my life, and I don't know yet what I'm looking at to be honest. I don't want to just parrot some other writer's impressions, so I'm waiting until I know more about what I'm talking about before I comment. Hopefully soon!

Daily meme

COVID Update

WW: 9334613 PH: 31825 

Top 3 MB indices:

 2019 IPOs ▲2.76% Media ▲0.70% Logistics ▲0.29% 

Bottom 3 MB indices:

 Fast Food ▼2.32% Cement ▼2.21% POGO Gaming ▼1.79% 

Main stories covered:

1. ABS-CBN [ABS 15.10 ▲0.67%] - Supreme Court junked Calida’s quo warranto petition against ABS-CBN… the Solicitor General’s petition sought to revoke ABS’s franchise on the grounds that it had broken the law when it issued PDRs to foreigners, violated its franchise by offering pay-per-view channels, and violated the constitution by allowing Gabby Lopez (alleged by Calida to not be a naturally-born Filipino) to own a media company. The Supreme Court junked the petition for being moot, since ABS’s franchise had already expired last month and the company was no longer broadcasting.
MB: “Moot” is just a fancy legal word that means further proceedings can’t have an effect. In this case, the franchise was already dead/expired, so the SolGen’s petition to revoke the franchise was useless: the Supreme Court couldn’t order the franchise to “be expired harder”. This is only a technical legal result. The Supreme Court did give any judgement on the issues raised by Calida in his petition, it only marked the petition as “too late” and threw it in the trash.
Click here to read the full write-ups on this story and the ones below.
  1. Wirecard (1) - Ex-DOTr Asec Tolentino claims identity theft and “frame-up”...
  2. Wirecard (2) - BSP Governor Diokno chides PH banks to improve hiring practices…
  3. I-Remit [I 1.06 ▲11.58%] Q1 net income increased 108% y/y…
  4. Apex Mining Co [APX 1.20 ▲8.11%] Q1 net income increased 58% y/y…

About Merkado Barkada

Merkado Barkada is a daily email newsletter covering all the stocks, bonds, companies, characters, and issues that make up the Philippine Stock Exchange. I don't make any money from MB, I don't use affiliate links or anything to trick people, and I don't sell email addresses for quick pesos. I simply like researching news and writing about current events in a way that helps my friends, family, and barkada to understand more easily what is happening.

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