Wirecard’s UK subsidiary scrambles to avoid collapse June 29, 2020 Thousands of UK consumers have been unable to access their cash, as financial apps relying on Wirecard technology were frozen after the German payments firm filed for insolvency last week. Wirecard’s UK subsidiary, Wirecard Card Solutions (WCS), said it was “working hard” to restore operations after the Financial Conduct Authority (FCA) on Friday ordered the [...]
Germany to shake up accounting industry following Wirecard collapse June 28, 2020 Germany is set to overhaul its accounting industry as part of measures to soften the fallout from the collapse of payments fintech Wirecard last week. Wirecard, which premiered on Germany’s main Dax index with a €24bn (£21.8bn) valuation just two years ago, filed for insolvency last week after auditors found a €1.9bn black hole in [...]
Katie Hopkins permanently banned from Twitter June 19, 2020 Right-wing commentator and media personality has been permanently banned from Twitter, the social media platform confirmed today. The micro-blogging site had suspended her account, but a spokesperson told the Huffington Post that this time the ban was for good. “In this case, the account has been permanently suspended for violations of our hateful conduct policy”, [...]
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 [...]
A green light for sustainable investments June 15, 2020 The aftershock of the Covid-19 pandemic will be felt by the economy and our financial markets for years to come, despite the encouraging signs of businesses beginning to open up. Friday’s figures revealed that the economy contracted by 20.4 per cent in April, while the Office for Budget Responsibility recently warned that the crisis could [...]
‘Shameful’: Boris Johnson condemns threats to Churchill statue June 12, 2020 British Prime Minister Boris Johnson said on Friday it was “absurd and shameful” that a statue of Winston Churchill was at risk of attack by protesters. In his strongest statement yet on a growing trend to challenge the legacies of past leaders, the PM pushed back against a wave of protests against statues of historic [...]
Black Lives Matter: Which business leaders have spoken out after George Floyd’s death? June 4, 2020 Business leaders across industries are speaking out about racial inequality in the wake of George Floyd’s death that sparked Black Lives Matters protests in cities across the US. Floyd, an unarmed African American man, was killed by a white police officer in Minneapolis last week. Bosses of some of the world’s most successful firms, including [...]
Markets live: FTSE 100 gains fade on US-China tensions as Wall Street wobbles June 1, 2020 The FTSE 100 pared some of its gains amid simmering tensions between the US and China over Beijing’s crackdown on semi-autonomous Hong Kong. Despite the concerns, US President Donald Trump stopped short of ripping up the US-China trade deal over China’s actions in the city-state. However, stocks surrendered some of their earlier gains as reports [...]
Asian stocks hit three-month high as US-China deal stays intact June 1, 2020 Asian stocks have risen to a three-month high despite US-China tensions, after President Donald Trump stopped short of economic retaliation against Beijing over Hong Kong on Friday. Markets in Asia were also unfazed by the fiery protests raging in the US after the death of black man George Floyd at the hands of police. Some [...]
Which south London pubs are serving pints this weekend? A non-exhaustive list May 22, 2020 The pint. The perfect measure; not too big, not too small. And now available in takeaway milk cartons in a host of pubs across south London. Here’s City A.M.’s very much non-exhaustive list of pubs south of the river that will allow you to have something cold, fizzy and poured by somebody else over this [...]