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Wirecard Suspends Executive After $2.1 Billion Goes Missing

(Bloomberg) -- Wirecard AG has temporarily suspended its outgoing chief operating officer after revealing that auditors couldn’t find about 1.9 billion euros ($2.1 billion) in cash, spooking investors and casting doubt on the company’s leadership and survival.Jan Marsalek has been suspended on a revocable basis until June 30, the company said in a statement on Thursday. James Freis, who had already been tapped to lead the company’s new “integrity, legal and compliance” department starting next month, will begin in his role immediately. Marsalek was due to step down from the COO role to a new position in charge of business development, Wirecard said in May.The company suffered one of the worst stock slumps in the history of Germany’s benchmark index on Thursday after revealing that auditors had been unable to find billions of cash that was supposed to be held in Asian banks. The company warned loans of as much as...

What Millennials Know About Real Estate Investing that Boomers Don't

Hint: Millennials know there's more than one way to skin this proverbial cat. Active real estate investing is one way boomers increase their wealth and diversify their portfolios. They buy a house, rent the property and pocket the profit.Millennials often take a different approach, however -- passive real estate investing. Real estate investment trusts (REITs) own and operate real estate assets that generate income using capital from the investors. Here's how you can get involved and get a piece of this real estate pie, whether you're a millennial or not.Leveraging REITs Through Tech Let's say there's a multimillion-dollar apartment building for sale in a popular metropolitan area. You're interested but you don't have the ability to put up the full amount or qualify for financing. A fintech platform like DiversyFund allows you to invest in that multimillion-dollar apartment so you're a co-owner.As part owner, you collect passive income on your investment...

Hertz Shares Halted Amid Rethinking of Stock Sale in Bankruptcy

(Bloomberg) -- Trading in Hertz Global Holdings Inc. was halted for pending news as investors speculated on whether the bankrupt car renter will have to revise its plan to raise cash by selling new shares.Hertz shares were down 4.5% to $1.91 in New York before the halt, which came a day after the company suspended the effort to raise as much as $500 million. The bankrupt car renter sought to take advantage of a rally in its shares after it filed for court protection in May, even as it repeatedly warned would-be buyers that the new stock was potentially worthless.The company is dealing with questions brought up by Securities and Exchange Commission officials, according to a filing yesterday. A representative for Hertz didn’t respond to a message seeking comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P....