June 19, 2020 / 12:58 AM / 21 days ago

PRESS DIGEST- Financial Times - June 19

June 19 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Wirecard says 1.9 billion euros of cash is missing on.ft.com/3efYQeD

- Johnson and Macron back renewed effort to strike UK-EU trade deal on.ft.com/37Fcm98

- UK to replace contact-tracing app with Apple and Google model on.ft.com/2Nd44Mi

- Bank of England boosts bond-buying by 100 billion pounds but slows the pace on.ft.com/3eapCVP

Overview

- Wirecard’s auditors warned that 1.9 billion euros ($2.13 billion) was missing from the German fintech group’s accounts, causing its shares to crash more than 60% on Thursday and was told by EY that there were indications a trustee of Wirecard bank accounts had attempted “to deceive the auditor” and may have provided “spurious cash balances”.

- British Prime Minister Boris Johnson and French President Emmanuel Macron on Thursday agreed to step up efforts to secure a UK-EU trade deal, amid signs Britain could be open to a compromise which would see the country face tariffs if it undercut European regulations.

- The British government will abandon its coronavirus contact-tracing app - designed by NHSX, the health service’s innovation arm - in favour of a new model, based on Apple and Google technology, which will not be ready until the autumn at the earliest.

- The Bank of England voted to pump an additional 100 billion pounds ($124.13 billion) into the UK economy on Thursday while simultaneously moving to slow the pace of asset purchases as financial markets were more stable than in March.

$1 = 0.8928 euros $1 = 0.8056 pounds Compiled by Bengaluru newsroom

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