For the first time, a DAX company, Wirecard, has gone broke but won’t be kicked out of the index until September.
Wirecard has filed for insolvency, just days after a $2 billion accounting scandal at the company burst into the open, crashing its stock and leading to the arrest of its former chief executive.
The digital payments company said in a statement Thursday it had opened legal proceedings in Munich “due to impending insolvency and over-indebtedness.” Share
Mit Wirecard ist zum ersten Mal ein Dax-Konzern pleite gegangen. Aus dem Leitindex fliegen dürfte der Konzern aber erst im September.
And that means, as usual, taxing the little guy tying to get ahead while letting the big time speculators off the hook. All in the name of Social Justice. Or Social Democracy (SPD), if you prefer.
Germany Pushes Forward on European Financial Transactions Tax – Under a new blueprint for the tax, sent by Germany Finance Minister Olaf Scholz to the other governments on Monday and seen by The Wall Street Journal, anyone buying shares in large companies domiciled in those countries and with a market value of over €1 billion ($1.1 billion) will have to pay a minimum 0.2% tax over the transaction value…
Germany is under some time pressure to deliver an agreement since the government has already earmarked the expected proceeds to pay for higher state pensions for the poor starting in 2021. It expects revenues of about €1.5 billion a year from the tax.
Germans have more words for taxation than Eskimos have for snow.
Looking for a stock steal? Try the Deutsche Bank. Those stealing bankers are a steal of a deal!
The Federal Reserve has designated Deutsche Bank AG’s sprawling U.S. business as being in a “troubled condition,” a rare censure for a major financial institution that has contributed to constraints on its operations, according to people familiar with the matter.
The Fed’s downgrade, which took place about a year ago, is secret and hadn’t previously been made public. The “troubled condition” status—one of the lowest designations employed by the Fed—has influenced the bank’s moves to reduce risk-taking in areas including trading and lending to customers…
The shares closed down 7.2% in Frankfurt, at €9.16, their lowest close on the Xetra exchange, according to data going back to 1991.
Bei der Deutschen Bank reißen die Negativ-Meldungen nicht ab: Am Donnerstag war die Aktie mit 9,157 Euro und damit dem niedrigsten Schlussstand seit Anfang der Achtzigerjahre aus dem Handel gegangen.
Observing Hermann 