Wirecard chief quits as shares plummet over missing €1.9bn June 19, 2020 Wirecard chief executive Markus Braun has resigned with immediate effect after the German payments firm’s disclosure of a €1.9bn (£1.7bn) accounting black hole sent shares into a tailspin. Shares have plunged more than 80 per cent since Wednesday’s close after auditor EY yesterday refused to sign off Wirecard’s financial accounts after discovering that €1.9bn of [...]
Foreign Office chief given the boot by Boris Johnson June 19, 2020 The Foreign and Commonwealth Office’s top mandarin has announced he will retire early “at the request” of Prime Minister Boris Johnson, as the ministry prepares to merge with the Department for International Development (DfID). Sir Simon McDonald, who has served as the Foreign Office’s permanent secretary for five years, will step down in September. The [...]
Spain to make UK air bridge decision ‘within hours’ June 19, 2020 Spain expects a decision ‘within hours’ on whether to establish a travel corridor with the UK, a Spanish foreign ministry source said today. Britain is currently in talks with Spain over whether to set up a bilateral travel agreement to facilitate tourism between the two countries and avoid a quarantine on travellers. “Spain is willing [...]
Wirecard shares continue to nosedive as boss claims it is victim of ‘considerable fraud’ June 19, 2020 Shares in Wirecard continued to plummet today as its chief executive said it may be the victim of “considerable fraud” after auditors yesterday found a cash hole of almost €2bn in the company’s financial accounts. In-house auditor EY yesterday refused to sign off the German payments firm’s annual accounts, saying it could not confirm the [...]
Bank of England apologises for historic slave links June 19, 2020 The Bank of England has apologised for the involvement of past governors and directors in the slave trade and vowed to remove all statues and paintings of them from its City headquarters. New analysis of a University College London (UCL) database found that 25 previous governors and directors of the Bank of England benefited from [...]
Costain’s activity levels stabilise after pandemic impact June 19, 2020 British construction firm Costain has said overall activity levels have now stabilised, after the firm’s London projects ground to a halt during lockdown. Costain’s performance was hampered by the coronavirus pandemic with major projects, amounting to a third of operating revenue suspended. On-site activities in London were more significantly impacted during lockdown, as the firm [...]
Saudi sovereign wealth fund pours $1.5bn into India’s Jio Platforms June 18, 2020 Saudi Arabia’s Public Investment Fund (PIF), one of the world’s largest sovereign wealth funds, has announced it will invest $1.5bn (£1.2bn) into Jio Platforms to become the Indian telecoms firm’s eleventh investor. The Saudi fund will buy a 2.32 per cent stake in Reliance Industries Ltd subsidiary Jio Platforms, the company said in a statement [...]
Wirecard shares plummet as firm admits €1.9bn of cash is missing June 18, 2020 Wirecard shares plummeted more than 66 per cent this morning after the payments group announced its auditor could not confirm the existence of €1.9bn (£1.71bn) in cash. The German firm today said there were indications that a trustee of Wirecard bank accounts had tried to “deceive the auditor and create a wrong perception of the [...]
Wirecard short sellers make ‘a fortune’ as shares nosedive on missing €1.9bn June 18, 2020 Wirecard short sellers hit the jackpot today as shares in the German fintech plummeted following reports of a €1.9bn (£1.7bn) accounting black hole. Short sellers have piled bets against the payments firm, which offers customers electronic payment transaction services and risk management, amid mounting questions over its accounting accuracy. Wirecard’s announcement this morning that auditor [...]
British singer Dame Vera Lynn dies at 103 June 18, 2020 Dame Vera Lynn, the much-loved wartime singer known as the Forces’ Sweetheart, has died aged 103. The singer’s family confirmed she passed away this morning surrounded by close relatives. “The family are deeply saddened to announce the passing of one of Britain’s best-loved entertainers at the age of 103,” a statement said. The singer shot [...]
