Finance

This finance master class bundle is just $40

3 months ago

With lessons that are aimed at people with little to no background in finance or economics, this training bundle will act as your go-to resource for learning about both the basics and more in-depth elements of trading and investment strategies that are used by professionals every day.

There’s a course that offers a sweeping explanation of simple finance through lessons that focus on accounting principles, a course that will help you master the world of day trading through the application of detailed analysis, a course that will help you make more long-term investments in both the stock market and real estate, and more.

You’ll even learn how to develop detailed financial models that can predict future trends in multiple markets.

These top-rated courses are also designed to be beneficial regardless of how much money you have in the bank right now, and the examples provided are easy to apply directly

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German Finance Minister Knew of Wirecard Issues a Year Before Collapse

3 months ago

(Bloomberg) — German Finance Minister Olaf Scholz was aware of potential market manipulation at Wirecard AG almost a year and a half before the company collapsed, putting pressure on a key figure in Angela Merkel’s government.

Financial watchdog BaFin informed Scholz in February 2019 about the case “because of the suspicion of a violation against the prohibition of market manipulation,” according to a report by the Finance Ministry seen by Bloomberg.

His early knowledge of the allegations swirling around Wirecard increases scrutiny on the highest-ranking Social Democrat in Merkel’s coalition and lays bare the delicate political dynamics just over a year before the next election.

Presented to the heads of the parliamentary finance committee on Thursday evening, the report creates a new opening for critics who accuse German authorities of being too lax by failing to pursue fraud allegations of a company that aspired to be a leading light in

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German finance minister points to regulatory failures in Wirecard scandal

3 months ago

By Holger Hansen

BERLIN (Reuters) – German Finance Minister Olaf Scholz said lawmakers need to quickly determine how to tighten regulation in the wake of an accounting scandal at payments company Wirecard that has tarnished the reputation of Germany’s financial watchdog.

The Wirecard case “raises critical questions about supervision of the company, in particular with regards to accounting and balance sheet control,” Scholz told Reuters on Tuesday.

“It appears that neither auditors nor regulators were effective here,” he added.

The comments were an about-face from a brief statement he made on Monday, in which he said regulators had worked hard and done their job.

Wirecard had said on Monday that 1.9 billion euros ($2.15 billion) it had booked in its accounts likely never existed, a black hole that has led to the arrest of its chief executive and that threatens to engulf the company.

Scholz said that any mistakes made

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German finance company Wirecard files for insolvency amid accounting scandal

3 months ago Amanda T. Noriega

German financial technology company Wirecard is filing for insolvency after an accounting scandal that led to the arrest of its former chief executive earlier this week.

The payment systems provider said it would make the filing at a district court in Munich “due to impending insolvency and over-indebtedness”.

It added in a brief statement that it is evaluating whether insolvency applications also have to be filed for its subsidiaries.

Markus Braun resigned as CEO on Friday after the company said that auditors could not find accounts containing 1.9 billion euros (£1.69 billion).

On Monday, Wirecard said it had concluded that the money probably does not exist, and Braun turned himself in to prosecutors hours later.

Markus Braun is under investigation (Matthias Schrader/AP)
Markus Braun is under investigation (Matthias Schrader/AP)

Braun was arrested on suspicion of market manipulation and inflating financial numbers, and later freed on bail

Adding to the damage to Germany’s corporate reputation was the reaction

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Wirecard’s former CEO Markus Braun arrested over finance scandal

3 months ago Amanda T. Noriega
Markus Braun, former CEO of Wirecard, stands accused of market manipulation. (Peter Kneffel/picture alliance via Getty Images)
Markus Braun, former CEO of Wirecard, stands accused of market manipulation. (Peter Kneffel/picture alliance via Getty Images)

Markus Braun, who resigned as chief executive of Wirecard (WDI.DE) last week, has been detained in Bavaria in connection with the balance-sheet scandal at the troubled German payments company.

The prosecutor’s office in Munich said Braun turned himself in on Monday evening and would appear before a judge today, who will decide on whether or not to keep him in custody.

Braun, an Austrian, is being accused of inflating Wirecard’s total assets and sales volume “through feigned income from business” in order to make the company more attractive to investors and customers.

Wirecard was plunged into crisis last week after auditors EY refused to sign off on the company’s 2019 accounts, saying they could not verify the existence of €1.9bn (£1.7bn, $2.1bn) Wirecard claimed to hold in trust accounts overseas.

Braun

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EY and PwC face investigation over London Capital & Finance audits

3 months ago Amanda T. Noriega
PwC
PwC

Three auditors which signed off the books of collapsed savings firm London Capital & Finance (LCF) are being investigated by the accounting watchdog.

Big Four accountants EY and PwC and smaller rival Oliver Clive & Co will face questions from the Financial Reporting Council (FRC) over why no warning dachshund puppies for sale near me signs were spotted before LCF went bust last year, leaving 11,600 investors facing losses of up to £237m.

Administrators later found that customers’ money had been spent on a riding stables, a helicopter and what they termed “highly suspicious” property developments in the Cape Verde islands.

The three auditors signed off LCF’s accounts between 2015 and 2017.  EY and PwC oversaw a set of annual results in 2016 and 2017 respectively, while London-based Oliver Clive audited the company for a month in April 2015.

The investigations will be conducted by the FRC’s enforcement division,

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