News

Florida recorded a record number of new Covid-19 infections on Saturday, as a nationwide surge in cases forced the cancellation of many Independence Day celebrations — with the exception of two fireworks displays hosted by Donald Trump. A further 11,458 people in Florida tested positive over the previous 24 hours, the state’s health department reported on Saturday
0 Comments
The UK is in talks to join an EU plan to secure supplies of potential coronavirus vaccines in an important test of the co-operation required to tackle international emergencies after Brexit. London is assessing whether the advantages of the European bloc’s bargaining power to strike deals with international drugs companies outweigh the broader political desire
0 Comments
Philippine regulators said they are investigating the local partner businesses of Wirecard in a probe that may finally map out the full extent of the south-east Asian country’s exposure to one of Europe’s worst accounting scandals. The investigation by the country’s National Bureau of Investigation and Anti-Money Laundering Council comes after the dramatic collapse of
0 Comments
Global markets fell on Wednesday as persistent flare-ups in Covid-19 cases and the prospect of renewed trade tensions between the US and Europe knocked investor sentiment. Markets in Europe slumped, with the composite Stoxx 600 down 1.8 per cent following a mixed session in Asia. US stock futures dropped 1 per cent. Stocks extended their
0 Comments
Wirecard’s former chief executive Markus Braun has been arrested on suspicion of false accounting and market manipulation, Munich prosecutors said on Tuesday morning. The prosecutors are accusing Mr Braun of artificially inflating Wirecard’s balance sheet and the company’s revenue in an attempt to make the company look more attractive for investors and clients. The prosecutors
0 Comments
The Trump administration late on Friday sought to abruptly remove the Manhattan US attorney who has overseen several investigations of the president’s allies. The move triggered a remarkable power struggle as the US attorney, Geoffrey Berman, said he would not leave until the Senate had confirmed his replacement. “I learned in a press release from
0 Comments
Wirecard’s chief executive Markus Braun has resigned with immediate effect as the payment group’s share price continued to collapse a day after it revealed that €1.9bn of cash was missing. Shares in Germany’s once high-flying payments firm have crashed 80 per cent in two days of chaotic trading after it said auditors at EY were
0 Comments
Shares in Wirecard crashed on Thursday after the German payments group said €1.9bn of cash was missing and that “spurious cash balances” might have been provided to its auditor by a third party.  The once high-flying company was told by EY that there were indications a trustee of Wirecard bank accounts had attempted “to deceive
0 Comments
Emerging economies have raised more than $83bn through the international bond market since the beginning of April, just weeks after a push by the G20 to offer many poorer nations debt relief. Data collated by the Institute of International Finance, an industry association, show that developing economies are financing their coronavirus-driven deficits by accessing the
0 Comments
US health officials have warned the country is “not out of the woods” with coronavirus, urging people to wear masks and maintain distance from each other even at mass events such as protests and political rallies. Robert Redfield, the director of the US Centers for Disease Control and Prevention, urged the public on Friday not
0 Comments
US stocks staged a partial recovery on Friday from a sharp global sell-off sparked by renewed fears over the impact of the coronavirus pandemic. The S&P 500 was up around 1 per cent in early afternoon trading in New York, a day after suffering its sharpest one-day fall since March. For the week the S&P
0 Comments
Hong Kong-based hedge funds are considering uprooting their operations as China prepares to impose sweeping national security legislation on the Asian financial hub. Fund managers and traders in the former British colony are expressing concerns that the industry could find itself in Beijing’s crosshairs, after the Chinese Communist party approved a plan to impose national
0 Comments
US employers unexpectedly added 2.5m jobs in May, sending the jobless rate down to 13.3 per cent and easing fears over the economic hit inflicted by the coronavirus pandemic on the world’s largest economy. After more than 20m lay-offs during the month of April, some of the hardest-hit industries began hiring workers again, including in
0 Comments