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Trader Digest: Has the Missing Wirecard Mastermind Been Found?

This week in Trader Digest, Morgan Stanley and Goldman Sachs reported record profits, a small university company's stocks increased by 552% thanks to a Covid-19 breakthrough, and has the potential mastermind behind the Wirecard scandal been found in Belarus?

WHAT WE'RE READING

Fiscal Cliffs Threaten Fragile U.S. Recovery: Economy Week Ahead
‘Policy makers in the U.S. will resume contentious talks this week on another round of stimulus that could prove critical to the still-fragile recovery of the world’s largest economy.’ BLOOMBERG

World's Most Wanted Man Jan Marsalek Located in Belarus; Data Points to Russian Intel Links
‘It can safely be assumed that Jan Marsalek is currently one of the most hunted-for persons on earth. The company he oversaw operationally, Germany’s Wirecard, collapsed overnight last month after auditors brought attention to a nearly 2 billion Euro gaping hole in its balance sheet.’ BELLINGCAT

Russian Elite Given Experimental Covid-19 Vaccine Since April
‘Scores of Russia’s business and political elite have been given early access to an experimental vaccine against Covid-19, according to people familiar with the effort, as the country races to be among the first to develop an inoculation.’ BLOOMBERG

The Billion-Dollar Broker Who Managed a Nation’s Oil Wealth
‘The wire transfer was just one of millions that ricochet through the global financial system every day. Starting at the Zurich branch of a Russian state bank, $800 million zipped through Citigroup Inc. in New York before landing in a small bank in Lebanon.’ BLOOMBERG

Morgan Stanley Posts Record Profit on Trading Boom
‘The bank wrapped up second-quarter results for the big U.S. lenders that shook out along expected lines. Trading powerhouses Morgan Stanley and Goldman Sachs performed better than Main Street rivals JPMorgan Chase, Bank of America and Citigroup, which had to build massive reserves for loans that may go bust.’ REUTERS

Tiny UK Company’s Stock Soars 552% as Drug Cuts Covid Risk
‘Shares of Synairgen Plc, a tiny pharmaceutical firm born out of a UK university, soared as much as 552% after the company said its experimental drug cut the risk of developing the worst symptoms of Covid-19.’ BLOOMBERG

WHAT WE'RE LISTENING TO

Studying Keynes Is More Important than Ever
‘In response to the economic crisis, governments around the world have engaged in stimulative policies that might be characterized as "Keynesian" in nature. But what did Keynes really believe, and how did he form his own ideas?’ BLOOMBERG

Meet the Mayor Who Printed His Own Currency
‘With the virus crushing economic activity, local governments have had to cut spending and rely on Federal support in order to maintain basic services. But one town in Washington is also trying something else. Tenino, Washington has printed its own wooden currency in order to stimulate activity, and help out its residents and businesses that have been hit by the crisis.’ BLOOMBERG

Perseverance: The New Mission to Mars
‘Planetary scientist Sarah Stewart Johnson describes how the latest mission to Mars builds on centuries of discoveries about the red planet, our nearest neighbour’ THE GUARDIAN

WHAT WE'RE WATCHING

The Rise of the Murdoch Dynasty
‘Documentary. Rupert Murdoch must decide who he wants to be Britain’s next prime minister, whilst a battle for succession begins within his own family’ BBC