Carnival Corp., the world's largest cruise company, gave no clarity about when it will cruise again in a company filing released to investors on Thursday. During the company's second quarter, which ended on May 31, it saw a net loss of $4.4 billion, or $6.07 earnings per share, preliminary results show. It is accelerating plans […]...
(Bloomberg Opinion) -- Less than a month ago, Wirecard AG told investors that it expected an “unqualified audit opinion” when its long-delayed annual results were finally published. The update that the German electronic-payments processor provided to the market on Wednesday was about as far from unqualified as it’s possible to imagine.Auditor Ernst & Young has been unable to obtain enough information to verify 1.9 billion euros ($2.1 billion) of the company’s cash balances, according to the Wirecard statement. Furthermore, there’s evidence that a third party tried to “deceive” the auditor. The annual report still hasn’t been published and, unless that’s quickly resolved, creditors might terminate 2 billion euros of loans to the company. The shares lost about two-thirds of their already beaten-down value. Since their peak in 2018, when Wirecard replaced Commerzbank AG in Germany’s blue-chip Dax index, about 20 billion euros of shareholder wealth has gone up in smoke. The market capitalization is...
