Police called on N26 works council meeting

@peter_IFAMAG reads Twitter so you don’t have to.

Employees of the financial supervisory authority BaFin increasingly traded Wirecard shares in months before Wirecard bankruptcy. Meanwhile, another German payment group, N26, embroiled in an employee works council clash.

Robert Smith of the FT shares the developing BaFin story.

Astonishing story: "In the months prior to the Wirecard bankruptcy, employees of the financial supervisory authority BaFin increasingly traded in shares of the payment provider." https://t.co/RUDqymZNN5

— Robert Smith (@BondHack) August 14, 2020

Isabel Woodford understandably intrigued by today’s N26 developments. Woodford breaks down what she thinks is happening in this thread.

Intrigued by N26’s persistence here to prevent a works council via any legal route they can. Police were also called to 2nd meeting but have since left. Hearing this response is deeply frowned upon and “non-German”.. founders are going to have to do some serious damage control. https://t.co/qBEzD5c41Y

— Isabel Woodford (@i_woodford) August 14, 2020

Below is a tweet from the works council. Check out its Twitter feed for updates as employees attempt to garner influence on the company’s board.

UPDATE: Someone has called the police to check the safety measures of the meeting. They found no issue and have left the premises.

— Works Council @ N26 (@worker291) August 14, 2020

Elsewhere, Chinese consumption outpaced by industrial output rebound.

https://twitter.com/FerroTV/status/1294212561949294593

And finally, Mark Taber highlights ISA scams to the FCA, and FCA slow response.

https://twitter.com/MarkTaber_FII/status/1294217291224223744

What are your thoughts on these tweets?

Tweet your responses to @peter_IFAMAG