(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...
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...
Grocery chain Kroger Co (NYSE: KR) reported first-quarter results, highlighted by changing trends that are likely to result in permanent habits, Kroger CEO Rodney McMullen said on a Fox Business interview.Kroger reported quarterly earnings of $1.22 per share, which beat the analyst consensus estimate of $1.09 by 11.93%. The company reported quarterly sales of $41.55 billion, which beat the analyst consensus estimate of $40.72 billion by 2%.Digital Growth: Kroger reported a 92% increase in digital sales during the quarter as many consumers chose to place orders online for delivery or pickup, McMullen said. To best satisfy the growth, Kroger hired 40,000 new employees to work on the digital side of the business.Regardless of how consumers interact with Kroger, the company is seeing a new trend playing out as families are cooking together more often, he said. Over time, this could transform into new habits that are here to stay for some...
