(Bloomberg) -- Deutsche Bank AG’s top accounting executive, Andreas Loetscher, and two ex-colleagues at his former firm Ernst & Young were targeted in a criminal complaint by a German retail investor association for their alleged role in the accounting scandal at Wirecard AG.The SdK association filed the claim against two unnnamed current partners of EY -- which also audits Deutsche Bank’s accounts -- and one former partner because of “the events around Wirecard,” according to a statement on Friday. That ex-partner is Loetscher, a person familiar with the matter said.Loetscher, a two-decade veteran at the accounting firm, oversaw the Wirecard audits for the financial years 2015 through 2017, filings show. He left in 2018 to become chief accounting officer at Deutsche Bank, taking over after the bank struggled for years with legal and regulatory mishaps.”There are many unresolved questions around Wirecard,” Deutsche Bank said in a statement. “We highly appreciate working...
The Federal Reserve put restrictions on bank dividends after an annual stress test found that some U.S. banks are close to minimum capital levels. Yahoo Finance’s Brian Cheung shares the details....
The novel coronavirus pandemic has swept away several industries but has been a bit of a blessing for the biotech sector. iBio (NYSEMKT:IBIO) is one company that is benefiting from the hype surrounding the push for a vaccine, as iBio stock gained 490% this year.Source: Shutterstock As I discussed in my previous article, iBio's propriety technology called "Fast Pharming" provides the company with a unique edge in the scalability of a potential vaccine. The plant-based production system helped iBio attract investments from a few institutional investors. However, several investors are currently in two minds about investing in a vaccine inventor or a manufacturer such as iBio.This factor, along with its weak balance sheet, top the primary concerns for iBio at this time. Let's look into these aspects in more detail.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Impact of Fast Pharming I talked about Fast Pharming in-length in my...
With more than half the states in the U.S. considering some measures to slow down their re-opening efforts due to surging novel coronavirus cases, the markets are once again having to adjust to events. Although many might see this as an opportunity to buy blue-chip stocks, not all of these investments are practical right now.Bear in mind, that we're also coming up to the end of the second quarter, which means Wall Street is starting to adjust its estimates for the rest of the year.There's also the fact that sector rotation may well be a strategy traders start to implement; moving out of sectors that may be flagging and into new sectors where there's still advantage. You saw the S&P 500 move its weightings into tech earlier this quarter and similar shifts on a broader basis may be in store before Q3 starts.InvestorPlace - Stock Market News, Stock Advice & Trading...
Yahoo Finance's Pras Subramanian joins The First Trade to break down the details of the new Ford F-150, what it means for the company, overall market and more....
