Bloomberg Bank of England (BOE) Governor Mark Carney has defended the concept behind new crypto currencies like the Facebook Inc-led Libra. Asked by lawmakers in London on Tuesday why firms like the social media company should be getting involved in such projects given the associated risks, Carney pointed to the shortcomings of existing payments systems. He said the high costs …

Bloomberg Wirecard AG fell the most since February in Frankfurt after a news report said it found repeated questionable accounting practices at the German payments firm. Wirecard fell as much as 23% in early trading after the Financial Times said it’s published internal company documents and correspondence that “appear to indicate a concerted effort to fraudulently inflate sales and profits” …

Bloomberg Paytm is close to scoring $2 billion of new financing from investors including Jack Ma’s Ant Financial and SoftBank Group Corp, a person familiar with the matter said, describing a mega-deal that will raise the temperature in India’s increasingly heated financial payments arena. Rob Citrone’s Discovery Capital Management is also in discussions to join a funding round that values …