Global shares higher…Wirecard ex-CEO arrested
TOKYO (AP) – Global shares are higher today, tracking gains earlier in Asia and on Wall Street Monday. In early trading, France’s CAC 40 gained 1.6%, while Germany’s DAX rose 2.0%. Britain’s FTSE 100 gained 0.8%. U.S. shares are set for gains, with Dow futures up 0.7% and S&P 500 futures 0.6% higher.
BERLIN (AP) – German prosecutors say the former CEO of payment service provider Wirecard has been arrested, accused of inflating the company’s balance sheet in an accounting scandal that centers on a missing sum of 1.9 billion euros ($2.1 billion). Markus Braun resigned on Friday after the company disclosed that auditors couldn’t find accounts containing the money. On Monday, Wirecard said it had concluded that the money probably didn’t exist. Prosecutors say a court issued an arrest warrant shortly afterward and Braun turned himself in Monday evening. He was arrested on suspicion of incorrect statements of data and market manipulation.
RIO DE JANEIRO (AP) – A group of mostly European investment firms sent a joint letter to Brazilian ambassadors in their countries to express concern over rising Amazon deforestation. Storebrand Asset Management collected the signatures of 29 companies that have a total $3.75 trillion in assets under management. The letter says the “dismantling of environmental and human rights policies, are creating widespread uncertainty about the conditions for investing in or providing financial services to Brazil.? It requests the start of dialogue to address the matter. The letter was sent to embassies in Norway, Sweden, France, Denmark, Netherlands, the U.S and the U.K.
OMAHA, Neb. (AP) – China’s decision to ban imports from a single Tyson Foods poultry plant where there was a coronavirus outbreak has raised concerns about the implications on the U.S. meat industry if the action is expanded to other plants. The short statement the Chinese customs agency issued about suspending imports from the Springdale, Arkansas, plant didn’t offer any hint of whether the ban would be expanded. The country imposed a similar ban last week on pork imports from a German plant where a number of workers tested positive for COVID-19. It hasn’t taken action against other U.S. meat suppliers. U.S. officials say there’s no evidence of the virus being transmitted by food or food packaging.
UNDATED (AP) – Starbucks is adding plant-based meat to its U.S. menu for the first time. The Seattle-based coffee chain says a breakfast sandwich made with imitation sausage from California-based Impossible Foods is now available at a majority of its U.S. restaurants. The sandwich comes with egg and cheese and is served on a ciabatta bun. Starbucks said earlier this year it would add fake meat to its menus worldwide as part of an effort to reduce its environmental impact. In April, it began selling lasagna, pasta and wraps made with Beyond Meat crumbles in China. It also introduced a Beyond Meat breakfast sandwich in Canada in February.