Day: July 1, 2020

Wirecard administrator says received inbound interest for assets

FRANKFURT (Reuters) – Wirecard’s administrator said he has received strong inbound interest for the payment firm’s assets and will shortly mandate banks for the sale of individual parts of the company.

“A large number of investors from all over the world have contacted us, interested in acquiring either the core business or business units that are independent of it”, Michael Jaffe said in a statement after a creditor committee meeting late on Tuesday.

Wirecard filed for insolvency last week owing creditors almost $4 billion after disclosing a 1.9 billion euro ($2.1 billion) hole in its accounts that its auditor EY

Why sharp rise in GST collections in June doesn’t indicate revival in businesses, economy

The revenues for June are 91 per cent of the GST revenues in the same month last year. 

GST collections in the month of June was Rs 90,717 crore, which is nearly three times the collections in April and significantly higher than the collections in May 2020. However, the collections in June do not give more reasons to cheer as it also includes the returns of February, March, and April, along with some returns of May since the government had allowed time relaxation for filing GST returns, according to a statement by the Ministry of Finance. The gross GST revenue

India ban on TikTok sends out strong message, US lawmakers urge Trump Govt to follow suit

India on Monday banned 59 apps with Chinese links

India’s ban on 59 Chinese apps, including the popular TikTok, has been widely noted in the US, including by some prominent lawmakers, who have urged the American government to follow suit as it is believed that the short video-sharing app is a major security risk to the country.

India on Monday banned 59 apps with Chinese links, including TikTok and UC Browser, saying they were prejudicial to sovereignty, integrity and security of the country.

The ban, which comes in the backdrop of India’s current stand-off along the Line of Actual control