peter_IFAMAG reads Twitter so you don’t have to.
The fallout from the Wirecard fraud scandal continues today as MP’s call for further FCA scrutiny. Chancellor Rishi Sunak sheds light on future UK business bailouts as wage cuts predicted to far outpace those of 2008 recession.
James Hurley dedicated his day to tracking down Wirecard customers money.
Crypto client of Wirecard says it will credit customers to the amount of the frozen funds. How is that allowed? If, purely for argument's sake, it was found that some of this money was laundered, they will have freed it up despite the FCA having frozen ithttps://t.co/uWoKObUgyB
— James Hurley (@jameshurley) June 26, 2020
The FCA told Wirecard to cease its UK operations this morning.
Confusion among Wirecard clients following FCA's intervention. ANNA Money telling people to try and circumvent the freeze, radio silence from Pockit, Curve says cards won't work for a few days, and for some reason FairFX seems to think almost business as usual. A mess.
— James Hurley (@jameshurley) June 26, 2020
The FCA intervened in Wirecard after news emerged that MPs have ‘troubling concerns’ over FCA complaints procedure.
MPs step in over 'troubling concerns' at FCA https://t.co/Kp3e4SeeBG
— APPG on Fair Business Banking (@APPGbanking) June 26, 2020
Rishi Sunak says ‘the bar is exceptionally high’ for further UK company bailouts.
U.K. Chancellor Rishi Sunak says “the bar is exceptionally high” for company bailouts in the wake of the coronavirus crisis, and any such arrangement would come with “significant strings attached"
More: https://t.co/J0YJTLFWCD pic.twitter.com/WRLMGP5SzY
— Bloomberg UK (@BloombergUK) June 26, 2020
In the US wage cuts are roughly double what they were in the Great Recession.
Pandemic wage cuts are roughly double what they were in the Great Recession, study shows https://t.co/C0XxfM3M7g
— Business Insider (@BusinessInsider) June 26, 2020
Finally, does this look like the future of retail?
https://twitter.com/Paula_Piccard/status/1276077884487106562
What are your thoughts on these tweets?
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