Thrift shopping: Victor Paterno racks up P135M Philippine Seven shares

The bilyonaryo boss of the local operator of 7-Eleven took advantage of the stock market swoon to up his stake in the company.

Philippine Seven (SEVN) president and CEO Jose Victor Paterno bought two million shares at P67.50 each on October 18.

SEVN has dropped 13 percent since hitting a six-month high last month.

Paterno has increased his stake by 13 percent to 18.622 million worth P1.247 billion since the start of 2022.

ERC to look into complaints of overcharging by power firms

Numerous complaints on increasing electricity rates have prompted the Energy Regulatory Commission (ERC) to launch an investigation on the accuracy and reasonableness of the generation rates being passed on by distribution utilities (DUs) to its consumers.