FT News Briefing Ex-Wirecard CEO arrested, Trump scales back environmental rules, the new bond monarch
Jun 24, 2020
Wirecard's scandal intensifies with the arrest of its CEO over false accounting. Allegations surrounding a missing 2 billion euros raise serious questions about corporate governance. Meanwhile, the Trump administration's rollback of environmental regulations aims to stimulate the economy post-pandemic. Experts discuss how central banks have effectively nationalized the bond market, impacting investor strategies as they navigate a complex financial landscape. The podcast delves into these pressing topics shaping the future of global finance.
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Wirecard's Missing Billions
- Wirecard's missing €2 billion likely never existed, according to the company and Philippine banks.
- The company is at risk of insolvency if banks terminate their loans.
Wirecard CEO Arrest
- Wirecard's former CEO, Markus Braun, was arrested for false accounting and market manipulation.
- Prosecutors also investigate other current and former Wirecard employees.
Environmental Rollbacks
- The Trump administration is rolling back environmental regulations during the pandemic.
- This includes speeding up projects and weakening Obama-era rules on air, water, and fuel.