Bloomberg Oil explorers expanded drilling in US fields for the first time this year as rising crude prices buoyed optimism. The number of rigs targeting oil in the country rose by 10 this week to 862, according to data released by oilfield-services provider Baker Hughes. The hike only partially reversed the worst setback for American exploration in almost three years. …

Bloomberg First came a sweeping government crackdown and a surge in defaults and failures at thousands of China’s peer-to-peer lenders. Now, in another troubling sign for the industry, some of the biggest investment banks have stopped taking them public. Wall Street firms including Goldman Sachs Group Inc and Citigroup Inc walked away from US initial public offerings of Chinese P2P …

Bloomberg Yi Huiman, a banking veteran who most recently chaired China’s largest lender, was named head of the country’s securities regulator, a role that puts him at the forefront of opening up the financial system to overseas firms. Yi, 54, will replace Liu Shiyu, who ran the China Securities Regulatory Commission for three years, state-run Xinhua News Agency reported, citing …