Wirecard, once hailed as the darling of Germany’s financial technology scene, is now facing a fight for survival amid scrutiny into its accounting practices. The payments processor said Thursday, for the fourth time, that it couldn’t publish its financials for 2019. Auditors at EY couldn’t account for 1.9 billion euros ($2.1 billion) of cash on
Finance
Long-time bear David Tice believes the market has become a house of cards. The AdvisorShares Ranger Equity Bear ETF manager warns unprecedented Federal Reserve policies designed to mitigate the coronavirus fallout is creating major damage. “I find the biggest disconnect that we’ve ever seen in my 35-year history of watching Wall Street between fundamentals of
Closed businesses on May 21, 2020, in Baltimore, Maryland. (Photo by Salwan Georges/The Washington Post via Getty Images) Lawmakers should replace a $600 unemployment supplement for jobless workers with a maximum $400 a week, according to a new proposal issued by a group of powerhouse economists. The proposal comes as Democrats and Republicans debate the merits
Passengers board an American Airlines flight to Charlotte, North Carolina at San Diego International Airport on May 20, 2020 in San Diego, California. Sandy Huffaker | Getty Images Check out the companies making headlines after the bell. Hertz — Shares of the car rental company whipsawed and fell 4% in extended trading after the company
An Institutional Investor Hall of Famer sees more trouble lurking in the market. Richard Bernstein warns unprecedented Federal Reserve policies may eventually cause serious harm. He cites near record deficits and aggressive efforts to increase the money supply among the biggest problems. “I’m surprised that people aren’t more concerned about what huge monetary growth means
Jamie Grill | JGI | Getty Images This is breaking news. Please check back for updates. Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the circulation of physical coinage ground to a halt amid the coronavirus outbreak but that the central bank is working to fix the flow. The topic came to light after
The Norwegian Bliss cruise ship is seen docked on March 15, 2020 in New York City. Mayor Bill de Blasio said on Tuesday that any cruise ship passenger disembarking in New York City with a temperature over 100.4 will be given the choice of self-isolating at home or be taken to a hospital to protect
U.S. stock futures moved lower in overnight trading, following a big rally in the previous session fueled by growing belief that the worst may be over for the world’s largest economy. Dow futures fell 180 points, indicating a loss of 0.7% at the open on Wednesday. The S&P 500 and Nasdaq-100 were also set to
Marilyn Booker attends the BET Awards Welcome Party at Liaison Lounge on June 21, 2019 in Los Angeles, California. Joshua Blanchard | Getty Images Marilyn Booker, a 26-year veteran of Morgan Stanley who spent most of that time as the firm’s global diversity chief, is suing the bank for racial discrimination and retaliation. Booker, who served
A “Sold” sign is displayed outside a home under construction at a Lennar Corp. development in Montgomery, Illinois. Daniel Acker | Bloomberg | Getty Images Check out the companies making headlines after the bell. Lennar — Shares of the homebuilder whipsawed and fell 1% in extended trading after Lennar released its second-quarter financial results, which beat