Shares in German payments company Wirecard have plummeted after the company confirmed it was missing €1.9 billion in cash.
Wirecard's auditors EY had refused to sign off on its accounts, having been unable to confirm the money existed. Wirecard said there were "indications that spurious balance confirmations had been provided" by a trustee "in order to deceive the auditor".
Ian Guider, markets editor of the Business Post, joined us with this and all the day's other business stories, including:
- United States withdraws from global digital tax talks
- European Banking Authority announces three-month payment break extension
- Only 12% of business leaders believe all staff will be back in offices after pandemic
- Irish tech company Intercom names new CEO
