German

German finance minister lashes out at EU vaccine drought

2 months ago Amanda T. Noriega


Olaf Scholz wearing a suit and tie

© Provided by City AM


Germany’s finance minister has renewed tensions within the bloc following a high-profile tussle last week over EU vaccine shortages.

Olaf Scholz told the BBC this afternoon he was “angry about some of the decisions that were taken last year”, among suggestions that the EU failed to order sufficient vaccine supplies for its member states.

Read more: Majority of adults in UK to be offered Covid vaccine by May

So far, less than four per cent of adult EU citizens have been immunised against coronavirus, compared to around 20 per cent of adults in the UK.

European Commission president Urusula von der Leyen has come under fire for the sluggish rollout of the vaccine across Europe and subsequent attempts to blame pharmaceuticals companies producing the jabs.

European Commission officials tried to pressure Astrazeneca into diverting some of its UK vaccine supply to the bloc last week

… Read More

DFI Joins Hands with German ACL to Develop Substantial Business Opportunities in the Smart Medical Market

2 months ago Amanda T. Noriega

TAIPEI, Feb. 4, 2021 /PRNewswire/ — DFI, a leading industrial computer manufacturer, has entered a strategic alliance with ACL, a well-known German medical IT hardware manufacturer, and will combine with DFI’s 40 years of rich experience in industrial computers. ACL has been famous in the medical personal computer market since 1995. With profound expertise in medical IT hardware for ICU/IMC and digital operating rooms, both will join hands to open up tremendous business opportunities in the smart healthcare market.

With over 25 years of “Made in Germany” quality, ACL’s rugged and durable medical computer products are widely used in 29 out of the 37 university hospitals in Germany and deployed in many well-known medical institutions in Europe. ACL also manufactures medical-related products for many world-renowned brands such as Dräger, Olympus, eSATURNUS (Sony Group), ATMOS, XION, Cascination, Zimmer Biomet, Humanscale, and HT Group. In the initial stage, DFI

… Read More

German ministers face grilling over Wirecard collapse

9 months ago

Frankfurt am Main (AFP) – Germany’s finance and economy ministers will be grilled by lawmakers on Wednesday about the massive fraud scandal that brought down payments provider Wirecard, amid criticism that authorities failed to act on early warning signs.

Wirecard filed for insolvency last month after admitting that 1.9 billion euros ($2.2 billion) missing from its accounts did not exist.

Former CEO Markus Braun book profits has been arrested on suspicion of falsifying accounts and market manipulation.

The Wirecard revelations have stunned Germany, drawing comparisons with the Enron accounting scandal in the United States almost two decades ago.

Germany’s parliamentary finance committee has asked Finance Minister Olaf Scholz and Economy Minister Peter Altmaier to attend a closed door special hearing to shed light on the saga from 1400 GMT.

Questions are likely to focus on when exactly government officials and regulators learned of accounting irregularities at Wirecard, and if there

… Read More

German Finance Minister Knew of Wirecard Issues a Year Before Collapse

9 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 quality wigs 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 hair pieces online for critics who accuse German authorities of being too lax by failing to pursue fraud allegations of a company that aspired to

… Read More

German finance minister points to regulatory failures in Wirecard scandal

9 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 wigs singapore 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

… Read More

German finance company Wirecard files for insolvency amid accounting scandal

9 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

… Read More

You may have missed

Fincann Aims to Conquer Banking Challenge for Cannabis Industry

1 hour ago Amanda T. Noriega

Investment Business Concepts (No Inventory Required)

1 day ago Amanda T. Noriega

Oxford Languages

3 days ago Amanda T. Noriega

Enterprise

6 days ago Amanda T. Noriega

Easy Business Ideas To Begin In Weeks!

1 week ago Amanda T. Noriega