The oil industry’s inroads to cutting supply are “dwarfed by the by the cuts that we’ve seen in demand,” even as states re-open their economies amid the coronavirus pandemic, says one oil expert....
Former Microsoft CEO Steve Ballmer said the spread of misinformation on social media requires additional action, calling on government regulators and tech companies to negotiate a fix....
Stock futures struggled for direction Thursday morning as investors awaited a slew of new economic data reports, including new weekly jobless claims and the third report on first-quarter GDP....
(Bloomberg) -- Wirecard AG filed for insolvency, the culmination of a stunning accounting scandal that led to the arrest of its CEO and left the German payment-processing firm scrambling to find over $2 billion missing from its balance sheet.Wirecard management cited over-indebtedness as the reason behind the decision to seek court protection in Munich, according to a statement. The company also said it’s considering whether the insolvency proceedings should be applied to its subsidiaries.Wirecard Bank is not included in the proceedings, according to a person familiar with the matter, who asked not to be named, as the situation is private. German regulator BaFin is responsible for deciding whether a bank should file for insolvency, although there are also other measures it can take when a lender runs into trouble.Until earlier last week, the company was still a hot growth story that had shaken off allegations of accounting fraud. Then came the...
