Press Digest: Financial Times - Dec 20

Wirecard AG

20/12/2022 24:50

Dec 19 (Reuters) - The following are the top stories in
the Financial Times. Reuters has not verified these stories and
does not vouch for their accuracy.
Headlines
-Wirecard was 'sloppily done fraud', chief witness tells Munich
court 
-Ron Perelman's Revlon stake to be wiped out in bankruptcy
settlemen
-UK government to sue PPE supplier over pandemic contracts
linked to Tory peer
-Bankers' pay boosted by deferral rules, say BoE advisers
Overview
-The key prosecution witness in Germany's biggest post-war fraud
trial admitted guilt on Monday in a scam that led to Wirecard's
 WDIG.H  collapse but said the company was a "swindle" from the
start, with former chief executive Markus Braun at its core.
-Bankrupt cosmetics giant Revlon Inc  REVRQ.PK  on Monday
reached a restructuring agreement which would turn over
ownership of the company to its lenders and wipe out current
shareholders.
-Britain's government has started legal action to recover money
from a firm at the centre of a row over the supply of personal
protective equipment during the COVID-19 pandemic.  
-The Bank of England said on Monday it was starting a
consultation on government plans, which it supports, to scrap a
cap on how high financial sector bonuses can be as a percentage
of basic pay.
 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))