Daily Archive: June 22, 2020

Film, pop stars line up for global COVID-19 fundraising gig By Reuters

© Reuters. FILE PHOTO: Miley Cyrus performs during the iHeartRadio Music Festival at T-Mobile Arena in Las Vegas

LONDON (Reuters) – International music and film stars will headline a globally televised and streamed fundraising concert on Saturday to help fight COVID-19 as part of a joint initiative by the advocacy group Global Citizen and the European Commission.

The initiative, called “Global Goal: Unite For Our Future,” is aiming to raise billions of dollars in private and public donations to help lessen the impact of the pandemic on marginalised communities.

Speaking at an online panel ahead of the event, pop star Miley Cyrus said the pandemic was hitting the world’s poor and marginalised people the hardest. She urged donors committing funds for tests, treatments and vaccines to ensure they are developed in ways that everyone everywhere has access to them.

Researchers and drugmakers across the globe are working on more than

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German fintech company Wirecard’s missing $2.1 billion forces out CEO, panics lenders

Markus Braun’s almost two decades as Wirecard AG’s chief executive officer ended after accusations about the company’s accounting culminated in a shock disclosure that it was was unable to locate 1.9 billion euros (US$2.1 billion).

James Freis has been appointed interim CEO, Wirecard said in a short statement Friday. A recent hire and former compliance executive at Deutsche Boerse AG,, Freis was only named as a member of the management board on Thursday.

Braun’s exit comes after a catastrophic few days for Wirecard, which suffered a share price collapse after the two Asian banks that were alleged to be holding the missing cash denied any business relationship with the company.

Wirecard is now facing a potential cash crunch. The company warned Thursday that loans as much as 2 billion euros could be terminated if its audited annual report is not published on Friday. Analysts at Morgan Stanley estimated that Wirecard

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Bond traders may soon be ranked by their stats on baseball cards

Wall Street bond traders may soon be immortalized in the fashion of baseball legends Honus Wagner, Willie Mays and Pete Rose if a plan by a former Goldman Sachs Group Inc. executive takes off.

That’s right, baseball cards are coming to finance.

The brainchild of Chris White, founder of bond trading and analytics firm BondCliQ, the digital cards reflect a new statistical approach to measure the effectiveness of individual traders and salespeople on dealer bond desks. White brought in as an investor Paul DePodesta, who used novel statistical methods to elevate the Oakland Athletics baseball team to a title contender, a story captured in the Michael Lewis book “Moneyball.”

The bond market has historically leaned on one metric for success — did a trader make money? BondCliQ wants to shed some light on whether rainmakers are good or lucky. It is collecting data that can allow buyers such as hedge … Read More