Germany's state development bank KfW could lose 100 million euros ($112.17 million) after payments company Wirecard filed for insolvency, a spokesman said on Saturday. KfW subsidiary Ipex Bank lent Wirecard the sum two years ago Boersen Zeitung newspaper first reported....
"In an effort to best prepare our pilots should furloughs be needed, Delta will send required notices to approximately 2,500 pilots," a Delta spokesperson said in a statement, adding that the so-called 'WARN' notices will be sent next week. Delta also reached a tentative agreement with the Air Line Pilots Association (ALPA) labor union on a pilot-specific voluntary early retirement option. A spokesperson for ALPA said after reaching the tentative agreement, Delta sent a letter, detailing pilot furloughs and early retirement option, that has been 'received poorly' by the pilots....
"In an effort to best prepare our pilots should furloughs be needed, Delta will send required notices to approximately 2,500 pilots," a Delta spokesperson said in a statement, adding that the so-called 'WARN' notices will be sent next week. Delta also reached a tentative agreement with the Air Line Pilots Association (ALPA) labor union on a pilot-specific voluntary early retirement option. ALPA did not immediately respond a request for comment after office hours....
(Bloomberg) -- Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network.Shares of the social media company fell 8.3% on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network. Unilever said it would stop spending money with Facebook’s properties this year.The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index. That also moved the Facebook chief executive officer down one notch to fourth place, overtaken by Louis Vuitton boss Bernard Arnault, who was elevated to one of the world’s three richest people along with Jeff Bezos and Bill Gates.Companies from Verizon Communications Inc. to Hershey Co. have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate...
(Bloomberg) -- Tencent Holdings Ltd. is rolling out a live-streaming service similar to Amazon.com Inc.’s Twitch in the U.S., making a rare foray into American social media.China’s largest company has been quietly testing a mobile-focused streaming network via an affiliate in the U.S. since at least March. Initially called Madcat and now branded Trovo Live, the new service closely resembles Twitch in its appearance and functionality. Beyond Tencent’s own portfolio of popular games like Fortnite and PUBG Mobile, Trovo also spotlights marquee titles like Grand Theft Auto and Destiny 2. This week, it detailed plans on its website to entice and reward creators with a $30 million partnership program starting in July.Tencent dominates gaming and social media in its domestic market and may be one of the few companies with the resources to challenge Twitch. But the WeChat operator has met with mixed results in its efforts to build online users...
A Filipino lawyer embroiled in a multi-billion dollar fraud at Wirecard , Mark Tolentino, told Reuters that he was surprised to be linked to the German payments firm and that he was the "victim of a frame-up". Wirecard went bankrupt earlier this week after disclosing that $2.1 billion of cash supposed to be in bank accounts in the Philippines probably didn't exist. The revelation led to the arrest of its former chief executive and has triggered probes in Germany, Brussels and the Philippines as investigators try to determine what happened....
Unfortunately, the coronavirus isn’t going anywhere just yet, as the surge of infections in parts of the US shows no signs of slowing down. In many areas, the number of cases has continued to rise; Seven states — Arizona, Arkansas, California, North Carolina, South Carolina, Tennessee and Texas — reported the highest amount of hospitalizations since the pandemic’s onset.To help in the battle against COVID-19, diagnostics specialist Biocept (BIOC) has entered the fray. The micro-cap has manufactured 10,000 nasopharangeal swab collection kits, which will be available by 3Q to conduct PCR testing for COVID-19 in California.Maxim analyst Jason McCarthy believes “Biocept may be in the right place at the right time.”“The availability of Biocept's collection kits comes at a crucial time when California is seeing a surge in COVID-19 cases as well as undergoing reopening. With the capacity to perform up to 2,000 tests per day, Biocept could play a role...
