Business

Wirecard stock jumps as much as 160% after a UK regulator eased restrictions on one of its key businesses

9 days ago   |   By Business Insider

Wirecard shares jumped as much as 160% on Tuesday as it continues to rebound from lows seen last week.
The fintech group's stock jump was likely propelled by UK's financial authority lifting restrictions on one of its subsidiaries.
Thousands of customers were unable to access their cash after the German parent company filed for insolvency and the UK immediately ordered a halt to all of its British operations.
The company's share price is down around 95% in 2020 as a result of its multi-billion dollar accounting scandal.
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The UK's financial watchdog has allowed one of Wirecard's key businesses to resume operations after it froze all accounts last week

The UK's financial watchdog has allowed one of Wirecard's key businesses to resume operations after it froze all accounts last week

9 days ago   |   By Business Insider

Britain's financial regulator, the Financial Conduct Authority, said Wirecard's UK-business can start operating again.
Wirecard Card Solutions had initially been told to cease all activity last Friday, and customer accounts were frozen.
German parent company Wirecard filed for insolvency last week after the arrest and resignation of its former chief executive Markus Braun.
The parent company is also continuing operations as the decision to open insolvency proceedings is still being reviewed the Wall Street Journal reported over the weekend.
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