(Bloomberg) -- Wirecard AG said an independent audit has uncovered no substantial findings of questionable accounting methods so far, but added it isn’t yet ready to reveal the full report.The company said KPMG didn’t find anything in all four areas of the audit that would lead to a correction of its financial statements. The firm was looking into Wirecard’s third-party partner business, merchant cash advance as well as business activities in India and Singapore.KPMG will report on its full findings in a presentation on April 27, the company said in a statement on Wednesday. “In the remaining days, data inventories still received are to be processed and taken into account,” Wirecard said. The company said last month that the audit had cleared it in three of the four areas.Wirecard has been trying to rebuild its reputation after facing repeated allegations about its accounting methods. Wirecard’s revenue soared in 2018 after it...
The world’s focus has zeroed in on healthcare companies. Hardly a surprising turn of events in these pandemic driven times. The search for a treatment or vaccine for COVID-19 has thrust into the limelight a host of smaller operators, who otherwise would have most likely remained under the wider public’s radar. The latest to join the race for a viable treatment is nano-cap Atossa Genetics (ATOS).Last week, shares of Atossa shot up by 35% following a launch announcement of a drug development program for COVID-19, called COVID-19 HOPE (AT-H201).The program consists of a combination of two undisclosed drugs already approved by the FDA for other diseases. The goal is to develop a therapy which will reduce the amount of time COVID-19 patients are on ventilators by improving lung function. Due to the large number of COVID-19 patients needing mechanical ventilation, hospitals are facing ventilator shortages, an issue Atossa hopes to solve...
The Senate approved a new $484 billion stimulus bill on Tuesday, marking another phase of government support and leaving many wondering how the money will be dispersed. Yahoo Finance’s Anjalee Khemlani joins The Final Round panel to break down the latest news about the coronavirus. ...
Derided by many economists for years for insisting on a balanced budget and criticized for a health care system seen as bloated and overly expensive, Germany has found itself well equipped now to weather the coronavirus pandemic. As the country moves to relax some restrictions this week, Chancellor Angela Merkel is pointing to the example of South Korea, which relied on its experience fighting a different coronavirus five years ago to combat COVID-19, as the way forward. Meantime in the U.S., some protesters have taken to the streets — supported by President Donald Trump's tweets — to demand an end to virus-related shutdowns to help the faltering economy, which has caused tens of millions to lose their jobs, even if it could lead to an increase in deaths as the health care system struggles....
The United States Oil Fund (NYSE: USO) recently turned 14, and for much of those 14 years on the market, the oil exchange traded product has been known as one of the largest and most heavily traded commodity ETPs.Down almost 40% over just the past week, USO is gaining notoriety, if not infamy, at a rapid pace. Those are the breaks for a fund like this when oil spends some time trading below zero and producers are practically bribing buyers to take the stuff off their hands.With the complexion of the oil market changing for the worse by the day, USO is under siege and now, more than ever, traders embracing this product that aren't initially familiar with its internal plumbing need to know what they're getting themselves into.And yes, plenty of traders are getting into something with USO. For the week ending April 21, the fund took in $2.64 billion,...
(Bloomberg) -- Delta Air Lines Inc. is looking to extend a borrowing binge to survive the collapse in travel demand from the coronavirus pandemic, favoring new debt over an equity offering after rival United Airlines Holdings Inc. sold shares at a historically low price.Options for Delta include borrowing against $13.5 billion in unencumbered assets, or selling planes and leasing them back from the buyers, said Chief Financial Officer Paul Jacobson. Delta has also applied for $4.6 billion in U.S. government loans. If tapped, that would complement the $5.4 billion in emergency U.S. payroll support that Delta has already lined up.“While the uncertainty means that we can’t rule anything out, we’re certainly prioritizing use of our unencumbered assets,” Jacobson said Wednesday on a call to discuss financial results. “We still feel pretty good about what’s available to us in the market.”Delta signaled it may increase borrowing a day after United sold more...
