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Wirecard: Scandal-hit firm says missing €1.9bn may not exist

Wirecard: Scandal-hit firm says missing €1.9bn may not exist

Business
Scandal-hit payments firm Wirecard has said the €1.9bn (£1.7bn) missing from its accounts simply may not exist.Wirecard's chief executive quit on Friday as the search for the missing cash hit a dead end in the Philippines.On Sunday the central bank of Philippines said none of the money appears to have entered the country's financial system.The German company also said it was withdrawing its financial results for 2019 and the first quarter of 2020."The Management Board of Wirecard assesses on the basis of further examination that there is a prevailing likelihood that the bank trust account balances in the amount of 1.9 billion EUR do not exist," the company said in a statement on Monday.The missing money accounts for around a quarter of its total balance s...
Alien life could exist on Saturn’s moon Enceladus

Alien life could exist on Saturn’s moon Enceladus

Technology
A new scientific discovery suggests that chemical reactions on the sea floor of Saturn's moon Enceladus could mean there are enough energy sources to support life.The surface of Enceladus is covered by between 18 to 24 miles of thick clean ice, making it one of the most reflective bodies in the solar system. However, centred beneath the ice at the moon's south pole there is believed to be an enormous ocean. Scientists at the Southwest Research Institute (SwRI) have developed a new model which explains how the plumes of gases and frozen sea spray which have erupted through cracks in Enceladus' surface suggest a complex world beneath its icy crust. Image: Scientists recently found 20 new moons around Saturn. Pic: Space Science Institute ...
Giant planet around tiny star ‘should not exist’

Giant planet around tiny star ‘should not exist’

Science
Astronomers have discovered a giant planet that, they say, should not exist, according to current theories.The Jupiter-like world is unusually large compared with its host star, contradicting a widely held idea about the way planets form.The star, which lies 284 trillion km away, is an M-type red dwarf - the most common type in our galaxy.An international team of astronomers has reported its findings in the journal Science. "It's exciting because we've wondered for long a time whether giant planets like Jupiter and Saturn can form around such small stars," said Prof Peter Wheatley, from the University of Warwick, UK, who was not involved with the latest study."I think the general impression had been that these planets just didn't...
Banking by smart speaker arrives, but security issues exist

Banking by smart speaker arrives, but security issues exist

Technology
Hey Alexa, what's my bank account balance? Big banks and financial companies have started to offer banking through virtual assistants — Amazon's Alexa, Apple's Siri, and Google's Assistant — in a way that will allow customers to check their balances, pay bills and, in the near future, send money just with their voice. And with the rapid adoption of Zelle, a bank-to-bank transfer system, it soon could be possible to send money to friends or family instantly with voice commands. But the potential to do such sensitive tasks through a smart speaker raises security concerns. Virtual assistants and smart speakers are still relatively new technologies, and potentially susceptible to being exploited by cyber criminals. Regional banking giant U.S. Bank is the first bank to be on all t...
This is what would happen if Social Security didn't exist, new report says

This is what would happen if Social Security didn't exist, new report says

Finance
The Social Security program is under attack and needs to be modernized and strengthened, according to a new report from Democrats on the Joint Economic Committee, which recommends policy to Congress. "Cuts to Social Security are not a credible solution to pay for the $ 1.9 trillion that Congressional Republicans have recently added to the deficit in passing their tax legislation," Sen. Martin Heinrich of New Mexico, the committee's ranking Democrat, said in a statement to CNBC. "We must ensure that our seniors are able to retire with dignity." J.P. Freire, a spokesman for the Republicans on the Committee, said he would have a response for CNBC later. Some Democrats worry that the recent tax cuts will be used by Republicans to make the case that there's a need to reduce other social program...