The Financial Times received three prizes at this year’s Loeb Awards, which are recognised as some of the highest honours in journalism. The awards help showcase the work of reporters contributing to the world of business, finance, and the economy.
The FT triumphed in the ‘breaking news’ category for its coverage of the collapse of Wirecard, the German Fintech group. The Wirecard story also won in the ‘investigative’ category, where FT journalists were commended for the years of work it took to bring the firm’s fraudulent accounting activities to light. The FT’s third award on the night was in the video category for the documentary ‘Opioids, Inc.', produced in partnership with the PBS investigative series FRONTLINE.
The Loebs are the Oscars of the American business press, and I couldn’t be prouder to have won three awards in one night. All three highlight the kind of high-impact, muckraking financial journalism our global network of journalists produce on a regular basis, and want to thank those reporters who work so hard to bring these important stories to our readers.US managing editor, Financial Times
Breaking news & investigative category: Wirecard reporting
Two Loeb awards are a validation of the efforts of FT journalists in their long term investigation into Wirecard’s suspicious accounting activity.
The FT journalists acknowledged by the awards for their contributions to Wirecard story include; Dan McCrum, Olaf Storbeck, Sam Jones, Paul Murphy, Helen Warrell, Henry Foy, Max Seddon, Andrew England and Erika Solomon.
As far back as 2015 the FT was asking serious questions about Wirecard and its model. In the years that followed, the likes of Dan McCrum invested huge amounts of time and effort in investigating the company’s financial activities and eventually revealed a €1.9bn hole in its balance sheet. In the video below McCrum guides readers through the story’s twists and turns in his own words.
The scandal is a prime example of the relentless and insightful reporting the FT is known for globally. All FT.com articles are double-sourced, which ensures that subscribers can trust what they’re reading to be accurate.
Following the story being broken, more allegations of fraud, forgery and opaque business links were uncovered. The depth of the FT’s Wirecard reporting kept investors, short sellers, professional services firms and all other linked parties well-informed on how things were moving, therefore helping readers navigate the myriad of potential risks as well as opportunities.
The FT is an essential part of my professional toolkit and an indispensable guide to impartial global news. Particularly FT articles around US trends and the general US news coverage which has been very insightful.President of Corporate Finance, Duff & Phelps, A Kroll Business
Awarded for the investigation into the US opioid epidemic
The FT’s final award of the evening was for the documentary ‘Opioids, Inc.', produced in partnership with the PBS investigative series FRONTLINE. US pharmaceutical correspondent Hannah Kuchler led the FT team in its partnership with PBS journalists to investigate the rise and fall of pharmaceutical company Insys Therapeutics, one of the most aggressive marketers of highly addictive opioid painkillers. FT readers in the US can watch the full documentary here.
Opioids, Inc. is a deeply investigated collaboration between two influential news organisations into a story about corporate misconduct and its social ramifications. This partnership allows the FT to further its presence in the US while leveraging both its world class journalism and the strength of a trusted brand that is PBS.Director of commercial development, Financial Times
Through high-impact journalism, insights and coverage of domestic issues, the FT continues to support its US readers. With award-winning reporting FT journalists investigate the breadth of news stories affecting America and beyond.
For more Loeb information visit: 2021 Gerald Loeb Award Finalists
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