Commerzbank expects a writedown on loans to collapsed payments firm Wirecard and fallout from the coronavirus crisis to result in a loss for the year, compounding the challenges already facing Germany's second-largest bank. Francis Maguire reports.
Prosecutors are investigating one of the largest accounting fraud cases in the country's recent history after the online payment services company crumbled into insolvency last month, admitting that $2.2bn was missing.
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German payments firm Wirecard, once one of the country's most promising tech companies, said on Monday that over $2 billion which went missing from its accounts -- likely never existed in the first place. Gloria Tso reports.
Kevin Mazur/VF14/Contributor/Getty Images Elon Musk on Saturday denied that the late convicted sex offender and multimillionaire Jeffrey Epstein was given a tour of a SpaceX facility. A photo showed Musk with Ghislaine Maxwell, Epstein's alleged co-conspirator who was arrested on Thursday, raising questions about his relationship to Musk. In a statement to Vanity Fair last year, Musk distanced himself from Epstein, who he said was "obviously a creep.
Alex Wong/Getty Images Bill Gates warns that COVID-19 infection rates will hit another wave in the fall, around October and November, when temperatures cool. The situation is made worse by the politicization of the virus, which has caused some people to refuse to wear masks, abide by social distancing guidelines and even to pressure others not to wear masks. Gates also said he was disappointed that the US, under Trump, has not taken a leadership role in preventing and ending the pandemic.
Neilson Barnard/Getty Images Lin-Manuel Miranda rose to fame for his Broadway musical, "Hamilton." More than five years after its 2015 debut, a filmed version with the original Broadway cast will premiere on Disney Plus on July 3. Miranda worked on "Hamilton" for years, and it became one of the biggest musicals of all time. Miranda's unconventional blend of musical theater and hip-hop, as well as a passion for diverse representation in the entertainment industry, has transformed musical theater.
Keith Birmingham/MediaNews Group/Pasadena Star-News via Getty Images Although the flu and coronavirus have some overlapping symptoms, the coronavirus' death rate in the US is far higher. On average in the US, the flu's death rate is .1%, while the coronavirus' death rate is 4.9%. Both viruses are most deadly for the elderly.
Boss Nuno Espirito Santo has told Wolves to put their holidays on hold afterthey booked a Europa League quarter-final showdown with Sevilla. RaulJimenez’s early penalty clinched a spot in the last eight as Wolves beatOlympiacos 1-0 in their last-16 second-leg tie on Thursday, squeezing through2-1 on aggregate. They now head to Duisburg in Germany for Tuesday’s one-offlast-eight tie against the five-time winners – the first time the club hasreached a quarter final in Europe since 1972.
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President Donald Trump said "99%" of coronavirus cases in the US are "totally harmless." Dr. Anthony Fauci is the nation's top infectious-disease expert. Fauci said Trump's claim is "false." "I'm trying to figure out where the president got that number," Fauci said in a Financial Times interview published Friday. Business Insider reports that there is overwhelming evidence of COVID-19's effects contradicts Trump's statement.
The UK left the European Union on January 31. Here we look at the latest figures and key dates in the ongoing Brexit process. Quote from Sarah Hewin, Chief economist at Standard Chartered, speaking to the Financial Times.
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Germany's financial regulator and accountants EY face anger over their roles in oversight of Wirecard, the German payments firm that collapsed this week owing billions of dollars. Julian Satterthwaite reports.