EU investigating German watchdog over Wirecard collapse

BRUSSELS/LONDON (Reuters) - The European Union is investigating Germany's financial regulator over the collapse of payments company Wirecard in a rare move that heaps embarrassment on Berlin days before it is due to take over the EU's rotating presidency. Wirecard's implosion on Thursday, owing creditors almost $4 billion (£3.2 billion), is shaping up to be one of Germany’s biggest corporate scandals, and regulator BaFin has come under fire at home and abroad for not spotting problems..