Relying too much on shoppers to tide over growth can be a risky business. China and the US have been leaning heavily on consumers to sustain their economic expansions. With the threat of hundreds of billions in tariffs looming over goods from bicycles to roof tiles, it seems only a matter of time before these noble buyers start to falter. ...

It’s just as well that big companies that process and facilitate payments have quit Facebook’s Libra cryptocurrency project, fearing a regulatory backlash. If Facebook really wants to bring financial services to the “unbanked,” it should try doing it on a smaller scale than these companies’ presence promised. And even then, the probability of failure will be high. It’s clear why ...

Wirecard AG is treating its investors shabbily. The German fintech group has failed to respond convincingly to this week’s allegations that some of its recent financial reporting may be incorrect. Instead, it has aggravated the situation with communication that doesn’t befit a 14 billion euro ($16 billion) member of the blue-chip DAX Index. Revenue and profit for 2016 in particular ...