The Pitfalls of America's Ant Army of Retail Stock Traders

Asian markets dominated by retail traders tend to be more volatile, pricing is more erratic and fundamentals matter less. 


 
Chinese Energy Company Defaults on Dollar Bonds

Hilong Holding, a provider of oil-field services and equipment, said it wouldn't be able to repay holders of a maturing dollar bond-the latest offshore default by a Chinese borrower. 


 
Wirecard's Missing $2 Billion Probably Doesn't Exist, Board Says

The more than $2 billion that banks were supposedly holding on behalf of Wirecard probably doesn't exist, the German financial-technology company said. 


 
SEC's Jay Clayton Thrust Into Political Minefield

The choice of Securities and Exchange Commission Chairman Jay Clayton as U.S. attorney in Manhattan inserts him into the kind of political drama he has mostly avoided in his career. 


 
Short Sellers Made $2.6 Billion Off Wirecard's Plunge, but Not Without Scars

Short sellers have been attacking the German fintech company's business practices for over a decade with little reward-until now. 


 
Carlyle Joins Oak Hill in Creating a New Insurance Holding Company

The two firms are placing brokerage operations into Galway Insurance Holdings. 


 
Fed to Assess How Banks React to Possible Covid-19 Scenarios

The Federal Reserve will use an analysis of large banks' ability to withstand various coronavirus-related recession scenarios as it forms policies on capital requirements, dividends and stock buybacks, a top central bank official said. 


 
Wirecard CEO Resigns After Banks Say Missing $2 Billion Doesn't Exist

The chief executive of the fintech giant resigned after two banks in the Philippines meant to be holding over $2 billion on behalf of Wirecard said they don't have the cash and never did. 


 
Financial Services Roundup

The latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires throughout the day. 


 
Deutsche Bank Settles Swap Reporting Outage, Spoofing Violations

The bank has agreed to pay more than $10 million to settle two separate cases by a derivatives market regulator.