financials - updates

Rappler's latest stories on financials

ARTICLE FINDER

Spying claims are latest twist in Germany's Wirecard thriller

Jul 10, 2020 - 11:55 PM

(UPDATED) Wirecard's former chief operating officer Jan Marsalek reportedly had access to highly confidential information, with reports pointing to his links to secret services

Supreme Court orders release of Trump records but they may stay hidden for now

Jul 09, 2020 - 11:16 PM

(UPDATED) The rulings prompt a string of furious tweets from Donald Trump and are a setback to his claim of absolute immunity from criminal investigation while in office

DONALD TRUMP. US President Donald Trump walks across the South Lawn upon his return to the White House in Washington, DC on May 27, 2020. File photo by Olivier Douliery/AFP

Germany makes new arrest in Wirecard collapse

Jul 06, 2020 - 11:40 PM

German prosecutors say the managing director of Wirecard's Dubai-based subsidiary Cardsystems Middle East FZ-LLC was arrested on suspicion of serious fraud

Germany vows to beef up finance watchdog after Wirecard drama

Jul 05, 2020 - 11:55 PM

'We need far-reaching reforms,' says German Finance Minister Olaf Scholz

Wirecard administrator eyes piece-by-piece sell-off

Jul 01, 2020 - 10:55 PM

'Many investors from all over the world have already signaled interest in buying the core business or independent business areas,' says lawyer Michael Jaffe, designated as Wirecard administrator

Critics' ire turns on auditor EY after Wirecard collapse

Jun 28, 2020 - 10:15 PM

EY, which had been checking Wirecard's books since 2009, now faces legal challenges of its own

Wirecard to continue operating despite filing for insolvency

Jun 28, 2020 - 8:00 AM

'The management board is of the opinion that continuation is in the best interests of the creditors,' says scandal-hit German firm Wirecard

Brussels probes German regulator over Wirecard scandal

Jun 26, 2020 - 10:55 PM

(UPDATED) The European Securities and Markets Authority will examine whether Germany's regulatory responses to early signs that Wirecard was in trouble 'were adequate to protect investor confidence in EU securities markets'

BI records show ex-Wirecard COO in PH on June 23 but no CCTV footage of arrival

Jun 26, 2020 - 6:16 PM

(UPDATED) Justice Secretary Menardo Guevarra says Philippine authorities have yet to determine if this was due to a technical glitch or if the records were deliberately tampered to set investigators on the wrong course

SCANDAL. German payments provider Wirecard is embroiled in what is called the largest fraud case in recent history.


Key dates in Germany's Wirecard fraud scandal

Jun 26, 2020 - 3:25 PM

Here are the key developments that led to Wirecard's demise

Market 'disconnect' could worsen virus downturn – IMF

Jun 25, 2020 - 11:25 PM

'Investors seem to be betting that lasting strong support from central banks will sustain a quick recovery even as economic data point to a deeper-than-expected downturn,' says the International Monetary Fund

JAPAN STOCKS. Pedestrians walk past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo on June 15, 2020. Photo by Kazuhiro Nogi/AFP

5 things to know about the Wirecard scandal

Jun 25, 2020 - 11:05 PM

Here are the key facts about the scandal involving German payments provider Wirecard, which has reached the Philippines

Accused of 'elaborate fraud,' Wirecard files for insolvency

Jun 25, 2020 - 10:20 PM

(UPDATED) The Wirecard saga continues with the German payments provider facing 'impending insolvency and overindebtedness'

Ex-Wirecard COO Jan Marsalek may be in Philippines

Jun 24, 2020 - 5:30 PM

The DOJ finds 'something curious' in immigration records. The NBI and AMLC are investigating other individuals possibly involved in one of the largest fraud cases in recent history.


GCash transactions see 'unprecedented growth' in May

Jun 22, 2020 - 6:59 PM

Online payments to merchants via GCash surged by 700% in May compared to the same period last year

House passes bill on assistance for banks to cushion pandemic effects

Jun 03, 2020 - 12:13 AM

The bill aims to provide incentives to financial institutions to sell their non-performing assets affected by the coronavirus crisis

De Lima among Financial Times readers' women 'game changers' in 2019

Dec 07, 2019 - 9:45 AM

Senator Leila de Lima joins environmental activist Greta Thunberg, New Zealand Prime Minister Jacinda Ardern, and US Senator Elizabeth Warren in the Financial Times list

HIGH SECURITY. Dozens of security escorts bring Senator Leila de Lima out of the Muntinlupa Regional Trial Court. Photo from Office of Senator Leila de Lima.

5 female-led Philippine fintech startups promoting financial inclusion

Dec 03, 2019 - 7:21 PM

These companies may just be able to help you achieve your financial goals for yourself or your fledgling business


[ANALYSIS | Point of Law] A correct move for our stock market?

Nov 18, 2019 - 8:27 PM

The proposed Passive Income and Financial Intermediary Taxation Act appears unsound, and Congress may want to rethink it before it's too late

Fugitive Malaysian 1MDB financier offered asylum – spokesperson

Nov 01, 2019 - 9:37 PM

The whereabouts of Low Taek Jho, who has been charged over the scandal in the US and Malaysia, are a mystery but his representatives now say he has been offered asylum, without naming a country

1MDB SAGA. A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. File photo by Manan Vatsayana/AFP

Business groups call Marcos' election protest a 'political distraction'

Oct 17, 2019 - 4:50 PM

The Philippines' biggest business groups say that the sooner Ferdinand Marcos Jr's protest is resolved, the sooner policymakers can move on to more important matters

Makati still Philippines' richest local government unit

Oct 16, 2019 - 7:47 PM

Makati City reports total assets of P230.833 billion in 2018 – an increase of P34.26 billion from 2017 largely due to the value of road networks in 6 barangays

Wirecard shares plunge on new Financial Times fraud allegations

Oct 15, 2019 - 5:56 PM

The Financial Times publishes internal communications and financial reports it says contained 'strong indications' hundreds of millions of euros of payments processed for some Wirecard clients 'could not have taken place'

ROUNDTABLE: How partnerships enrich lives

Sep 30, 2019 - 4:02 PM

No one makes it through life alone – having a partner can make life more fulfilling! Watch our roundtable discussion on September 30, 4 pm onwards.

Filipino payments platform PayMongo secures $2.7 million in seed funding

Sep 25, 2019 - 6:04 PM

PayMongo says the seed funding round is 'record-breaking in terms of the amount raised for any startup in the Philippines'

Finovation 2019: for stronger collaboration and greater credit access through upgraded fintech

Sep 25, 2019 - 5:02 PM

With the theme "Real Problems, Real Solutions," the summit was held on September 25 at The Peninsula Manila

Mobile credit expands mass surveillance of ordinary Kenyans

Sep 21, 2019 - 4:52 PM

‘Fintech’ apps bring credit to poor Kenyans. Debt and invasions of privacy are part of the deal.

House passes bill simplifying passive income, financial taxes

Sep 09, 2019 - 7:50 PM

But Gabriela Representative Arlene Brosas says the Pifita bill 'grossly favors the rich who make fortunes out of thin air in the financial sector'

House bill simplifying passive income, financial taxes approved on 2nd reading

Sep 04, 2019 - 10:20 PM

The Passive Income and Financial Intermediary Tax Act (Pifita) bill is the 4th package of the Duterte administration's Comprehensive Tax Reform Program

‘With education comes empowerment’: We asked experts how to avoid getting #RejectED

Aug 06, 2019 - 4:16 PM

We talked to finance experts about financial inclusion and the credit landscape in the PH

Why you need a life partner – and not necessarily the romantic kind

Aug 06, 2019 - 2:40 PM

We all value independence. But there are some things we can’t do alone.

Singapore returning millions linked to Malaysia's 1MDB scandal

Jul 19, 2019 - 1:09 PM

The city-state is one of several countries that launched probes into allegations that billions of dollars were misappropriated from Malaysian sovereign wealth fund 1MDB

A motorist rides past a hoarding at the construction site of the 1 Malaysia Development Berhad (1MDB) flagship Tun Razak Exchange in Kuala Lumpur on July 8, 2015. A government task force investigating a Malaysian state-owned investment fund seized documents from its offices on July 8 after a probe allegedly found hundreds of millions of dollars in the prime minister's personal bank accounts. AFP PHOTO / MANAN VATSYAYANA

[ANALYSIS] Kapa Ministry: A symptom of poor financial inclusion

Jul 04, 2019 - 11:47 AM

Beefing up financial inclusion in the Philippines could be an effective way to stifle the viral spread of Ponzi schemes like Kapa, especially in the provinces

Labor bets to gov't workers: We will restore right to negotiate, strike

Apr 25, 2019 - 4:44 PM

The Kapisanan ng Manggagawa sa Government Financial Institutions (KAMAGFI) asks for the right to negotiate salaries and benefits

LABOR WIN. Labor senatorial candidates (L-R) Sonny Matula, Ka Leody De Guzman, Allan Montaño and Ernesto Arellano speak before government union groups in Tagaytay, Cavite on April 25, 2019. Photo by Rappler

Coins.ph, GCash, GrabPay, PayMaya: Who’s leading the mobile payments war in PH?

Apr 02, 2019 - 12:51 PM

Take a close look at how the competition is playing out so far

Austria uncovers 100-million euro online trading scam

Feb 26, 2019 - 10:29 PM

The operation allegedly used fraudulent online platforms purporting to trade in foreign currencies and cryptocurrencies, as well as high-risk instruments known as binary options

QC launches NCR’s first pre-employment financial aid program

Feb 19, 2019 - 2:29 PM

Press release: Grants are available for Quezon City residents from indigent families, including fresh graduates

DOF ranks accuracy of analysts' GDP forecasts

Feb 15, 2019 - 6:11 PM

(UPDATED) After ranking economists and analysts according to the accuracy of their inflation forecasts, the DOF looks into their GDP projections

Ghosn hit with more charges, release unlikely

Jan 11, 2019 - 2:01 PM

Lawyers for the former jet-setting executive immediately say they will file a bail application, but have acknowledged that he will probably be detained until a trial

NEW CHARGES. In this file photo taken on November 1, 2013, Japan's auto giant Nissan Motor president Carlos Ghosn announces the company's first half financial result ended September at the company's headquarters in Yokohama, suburban Tokyo. File photo by Jiji Press/AFP

13 Canadians held in China since arrest of Huawei executive

Jan 04, 2019 - 5:57 PM

Some believe the detentions of Michael Kovrig and Michael Spavor are in retaliation to the arrest in Vancouver of Huawei's Chief Financial Officer Meng Wanzhou

michael kovrig

Big ticket items you didn’t know you can buy without a credit card

Dec 21, 2018 - 7:03 PM

Now you can give your loved ones or yourself the things they’ve always wanted and needed

Ex-Nissan chief Ghosn charged, served with fresh arrest warrant

Dec 10, 2018 - 2:12 PM

(3rd UPDATE) Prosecutors press formal charges on Carlos Ghosn and key aide Greg Kelly

CARLOS GHOSN. Men walk past a screen showing a news program featuring Nissan chairman Carlos Ghosn in Tokyo on November 20, 2018. File photo by Toshifumi Kitamura/AFP

Japan to indict Nissan as well as Ghosn – report

Dec 07, 2018 - 2:36 PM

The report comes amid speculation that Carlos Ghosn and his right-hand man Greg Kelly will face new allegations related to underreporting of the auto titan's compensation

Tips on how to be financially secure

Dec 05, 2018 - 3:06 PM

Start the new year right

INFOGRAPHIC: The road to living life to the fullest

Nov 29, 2018 - 12:00 PM

Savings and loans are enablers to this, contrary to what you might believe

Hong Kong lawyers demand explanation over journalist ban

Nov 16, 2018 - 2:09 PM

Hong Kong's powerful bar association says the rights enshrined in Hong Kong's mini-constitution, including freedom of expression, should be respected 'whether one agrees with the information or ideas or not'

BANNED. In this photo taken on August 14, 2018, Victor Mallet, a Financial Times journalist and vice president of the Foreign Correspondents' Club speaks during a luncheon at the FCC in Hong Kong, during which Andy Chan, founder of the Hong Kong National Party, gave a talk. File photo by Paul Yeung/Pool/AFP

WATCH: #ReadyToAdult Conversation Series: Karen Pacia

Nov 12, 2018 - 11:31 AM

At 30, Karen Pacia has already retired from her corporate job

Exiled China author in Hong Kong as arts center agrees to host talks

Nov 09, 2018 - 9:31 PM

The director of Tai Kwun arts complex, host of the Hong Kong International Literary Festival, says it has reconsidered and would host the two talks of Ma Jian

Photo from the Twitter of Ma Jian

Backlash over FT journalist denied entry to Hong Kong

Nov 09, 2018 - 3:28 PM

British citizens are usually allowed into Hong Kong without a visa and are permitted to stay for 180 days under immigration rules

INDEPENDENCE TALK. In this photo taken on August 14, 2018, Victor Mallet, a Financial Times journalist and vice president of the Foreign Correspondents' Club (right) shakes hands with Andy Chan, founder of the Hong Kong National Party. File photo by Paul Yeung/Pool/AFP

A millennial dancer's financial adulting journey

Nov 07, 2018 - 1:24 PM

This is the story of how Michelle Kawpeng pursued her passion for dancing and teaching