Year: 2020

Law firm Schirp said on Monday it was applying for a special audit of German payments company Wirecard, which is facing allegations of fraud and false accounting, on behalf of its shareholders. Wirecard was hit a year ago by allegations in the Financial Times that its Singapore office made fake book-keeping entries to ‘pad’ its revenues. In-house auditor EY investigated those claims and gave Wirecard management a clean bill of health. …read more […]

It characterised the transaction as “costless” but a Reuters review of regulatory filings, market data and interviews shows that’s not the whole story. The aim of the complex financial maneuver, the company said, was to help preserve Occidental’s generous dividend to shareholders as it sought to take over rival Anadarko Petroleum for $38 billion last summer in the biggest industry deal for years. “With the additional leverage from the Anadarko acquisition, these new hedges will strengthen our 2020 cash flow in a low oil price environment, and provide additional assurance that our dividend is safe, while we are …read more […]

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Saudi Arabia, OPEC’s de facto leader, will work for oil market stability at a time of heightened U.S.-Iranian tension and wants to see sustainable prices and demand growth, the kingdom’s energy minister said on Monday. Prince Abdulaziz bin Salman said it was too early to talk about whether the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, would continue with production curbs agreed under a deal that expires in March. “As tension remains high in our region, Saudi Arabia will continue to do all it can do to ensure stable oil …read more […]

Jan.13 — Steven Pan, executive chairman of Silks Hotel Group and Formosa International Hotels, talks about the outcome of Taiwan’s elections, and the implications for the economy. Pan speaks with Stephen Engle on “Bloomberg Markets: Asia.” …read more […]

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Jan.13 — Xie Dong, chairman and chief science officer of Frontier Biotechnologies, a Chinese clinical-stage drug developer that focuses on HIV treatments, discusses the company’s business, outlook and its plan to list shares. He speaks on the sidelines of UBS Greater China Conference with Tom Mackenzie on “Bloomberg Markets: China.” …read more […]

Bitcoin’s intrinsic value (an estimate of the actual true value) is still below market price, according to JPMorgan. “The gap has not yet fully closed, suggesting some downside risk remains,” said JPMorgan strategists led by Nikolaos Panigirtzoglou (MD for Global Market Strategy) in a note published Friday, as reported by Bloomberg. The market price of […]The post Bitcoin’s intrinsic value remains below market price, ‘suggesting some downside risk’ – JPMorgan appeared first on The Block. …read more […]

Jan.13 — Finance Secretary Carlos Dominguez talks about the actions the government is taking as a volcano is erupting just 40 miles from Manila. He speaks with Haslinda Amin and Rishaad Salamat on “Bloomberg Markets: Asia.” …read more […]

Jan.13 — Paul Ryan, head of international finance division at the Ireland Department of Finance, discusses the relationship between Ireland and Hong Kong, Ireland’s tech sector and his thoughts on Brexit. He speaks on “Bloomberg Markets: Asia” from the sidelines of the Asia Financial Forum in Hong Kong. …read more […]