Business Weekly
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 11 July 2020
⏱️ 50 minutes
🧾️ Download transcript
Summary
On Business Weekly, we look at what's been the biggest corporate scandal of 2020 so far. Wirecard was one of the German stock exchange's largest companies, but it now finds itself embroiled in fraud and corruption claims. How did the technology star fall so quickly from grace? Fergus Nicoll investigates. The coronavirus pandemic has taken its toll on the education sector and in the United States new rules say foreign students might face deportation if their courses have gone online, throwing their lives into disarray, Rob Young hears their stories. And what’s the formula behind a winning brand? We join Elizabeth Hotson on a quest to bring out a winning range of mushy peas. Presented by Vishala Sri-Pathma and produced by Matthew Davies.
Transcript
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| 0:00.0 | Hi, if a week is a long time in politics, a day is a long time in business at the moment, |
| 0:06.1 | and it can be exhausting trying to keep up with all the latest developments. |
| 0:10.1 | That's why we've interrupted your Business Daily pod feed to bring you Business Weekly, |
| 0:14.4 | a new weekend programme which brings you an hour of the most interesting, inspiring and thought-provoking stories you might have missed |
| 0:21.7 | from the BBC's business team. |
| 0:27.7 | Hello and welcome to Business Weekly with Vasharlet Sri Papma. |
| 0:31.8 | This week we take a look at why much of the world has fallen out with China, whether it's |
| 0:36.6 | a new security law in Hong Kong, |
| 0:38.4 | territorial rouse with India, or the trade war with the United States. China can't seem to |
| 0:43.3 | stop arguing with its international partners. And we also hear from foreign students in the US |
| 0:48.4 | who've been told by immigration authorities they face deportation if their courses have gone |
| 0:53.1 | online because of the pandemic. |
| 0:55.5 | But first we head to Germany. The electronic payments company Wirecard was one of Europe's |
| 1:00.9 | financial high flyers, a champion of the cashless economy. Investors were confident that this |
| 1:06.2 | technology company had a service that wasn't going out of fashion. In fact, by 2018, its share price |
| 1:12.4 | had grown over 3,500% in just 10 years, making it one of Germany's most valuable businesses. |
| 1:19.1 | But behind the scenes, all was not well. Huge accounting irregularities revealed by the Financial |
| 1:24.9 | Times showed that $1.9 billion in reported cash assets simply didn't exist. |
| 1:31.5 | Since then, the Chief Executive Marcus Brown has been arrested. |
| 1:35.3 | He's now out on bail. |
| 1:37.2 | Fergus Nicol has been looking at what went wrong. |
| 1:42.8 | The story of Wirecard is one of questionable accounting |
... |
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