Chipwerk in Villach Infineon is investing 1.6 billion euros in its new semiconductor factory in Carinthia. – (Foto: Bloomberg) – – – – Villach, Klagenfurt The clock is ticking: “We’re looking for 100 people by the middle of next year,” says Claus Lachmann. The head of personnel at the chip machine manufacturer Lam Research in Villach … Read more
Düsseldorf The world economy is growing faster than it has been in almost 50 years. At the same time, more and more industries are reaching their capacity limits. Now companies are reacting by drastically ramping up their investments: in 2021 an expected 13 percent to 3.1 trillion euros worldwide. The last time there was similarly … Read more
– Good morning dear readers, The most beautiful thing is always when debts or under-tax receipts offset each other through the beautiful device of economic growth. It should be the same with the new federal budget, which would not exist without 180 billion euros in new loans. “We will grow out of the crisis,” said … Read more
Jan Marsalek We are looking for the ex-COO of Wirecard. – (Photo: Wirecard) – – – – Munich The fraud at the insolvent payment service provider Wirecard is apparently even bigger than expected. The previous assumption was that 1.9 billion euros were missing from the balance sheet. Research now shows: The existence of a further … Read more
Global audit giant Ernst & Young (EY) looks its own way dragged down by the bankruptcy scandal of the German online payment company Wirecard, for their deficiencies in the verification of the accounts. Lawsuits have already been filed against the consultancy following the bankruptcy this week of the electronic payment provider, which employs 6,000 people. … Read more
EY’s auditors suspect that Wirecard already invented huge sales in 2018. All attention is now directed to the ex-board member Jan Marsalek. – For a while, Jan Marsalek still gave the impression that he would face the prosecutors. The former board and chief operating officer of Wirecard AG were said to be in the Philippines … Read more
DGermans fell for a huge fraud. Until June 18, Wirecard was considered a beacon of hope for the economy, which had made it into the German share index Dax. The group was worth twelve billion euros. The payment service provider filed for bankruptcy on Thursday. Wirecard is now worth 176 million euros. It is now … Read more
For EY, there is a lot at stake – the potential financial damage from recourse claims could be immense. “You have to fear that lenders will lose their stake in the bankruptcy process. That would then have to be added to the damage of the shareholders. Ultimately, this can mean a total loss of several … Read more
Wirtschaftsprüfungsgesellschaft EY A wave of lawsuits is rolling towards the company. – (Foto: Getty Images; Per-Anders Pettersson) – – – – Düsseldorf In the event of balance sheet scandals, the accounting firms of the companies concerned are also the focus of criticism. After all, it is they who, in a kind of sovereign act, attest to … Read more
The payment service provider Wirecard, caught up in a billion scandal, is on the brink. The company wants to file for bankruptcy due to over-indebtedness and impending insolvency, as the board announced on Thursday in a short ad hoc announcement. Large parts of the group may plunge into the abyss: the Wirecard management board checks … Read more