Wirecard files for insolvency, becoming first DAX member to fail

BERLIN/MUNICH (Reuters) - Wirecard said on Thursday it was filing for insolvency after disclosing a $2.1 billion (£1.6 billion) financial hole in its accounts, becoming the first sitting member of Germany's blue-chip share index to go out of business.Shares were suspended by the Frankfurt Stock Exchange before the news. They have lost more than 90% since auditor EY refused to sign off on the 2019 accounts last week, leading to the resignation of long-time CEO Markus Braun.Wirecard said in a..