Commercial Banking

Procter & Gamble Co. and Target said they would cover travel expenses for employees who can’t access abortions near where they live, joining other companies that have taken the step after the Supreme Court overturned the constitutional right to abortion.P&Gunlike many of the technology and banking giants that had previously announced similar policies, is based in a Midwestern state with an abortion ban. A federal judge in Ohio issued an order Friday allowing the state’s six-week ban to take effect. A few other…

Few private companies benefited more during the pandemic than Klarna Bank AB. Consumers flocked to the specialty lender, which lets shoppers break up payments for things they order online. Klarna’s valuation soared to $46 billion from $5.5 billion in just two years.Times have changed. The loss-making startup has burned through a chunk of the money it raised in recent years and is now seeking fresh funds. Part of the reason it needs more capital is to keep up with more stringent Swedish bank capital requirements, according…

Tesla Inc. battery supplier Contemporary Amperex Technology Co. 300750 4.02% raised about $6.7 billion in one of the world’s biggest share sales this year, showing the relative resilience of China’s market for stock offerings. The deal also reflects continued investor appetite for some new-energy-related investments—even as share prices for many U.S.-listed electric-vehicle manufacturers have tumbled in…

Federal Reserve Chairman Jerome Powell is facing pressure from both Senate Democrats and Republicans over how chiefs of the 12 regional Fed banks and their board members are selected. On Tuesday, Senate Democrats including Ohio Sen. Sherrod Brown, chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and New Jersey Sen. Robert Menendez, a senior member of that panel, wrote to Mr. Powell and said the Fed needs more diversity in the leadership ranks of its regional banks.…

JPMorgan CEO Jamie Dimon said he hadn’t altered his view that the government’s pandemic stimulus is still padding consumers’ wallets. Photo: BRIAN SNYDER/REUTERS…

The chief executive of Wells Fargo & Co. says it will be difficult to avoid an economic downturn. The head of Frontier Airlines predicts conditions for high airfares could last for years. A veteran healthcare entrepreneur expects some startups to be wiped out in a recession.Executives in industries as varied as banking, agriculture and transportation say they are watching the effects of inflation and looking for signs of a slowdown, even as many continue to…

Klarna Bank AB is seeking to raise new funds that could value the fintech giant at almost a third less than the roughly $46 billion valuation it achieved just under a year ago, according to people familiar with the matter, an example of the struggles facing the tech investing world.Klarna specializes in buy-now-pay-later services, a popular type of cash advance that competes with credit cards and lets customers pay for goods and services in installments without paying interest. Klarna makes money by charging merchants who…

Investors have rebuked two dozen major U.S. companies over their executive-pay packages in nonbinding shareholder votes, sometimes by wide margins or for the second straight year.JPMorgan Chase & Co. and Intel investors owning roughly two-thirds of shares didn’t support pay plans at recent annual meetings. Coca-Colabarely won majority support with 50.5% of the vote this year. Investors have rebuked two dozen major U.S. companies over their executive-pay packages in nonbinding shareholder votes, sometimes by wide…

Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end.The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal, according to credit-reporting firm Equifax Inc. In March, those delinquencies rose month over month for the eighth time in a row, nearing their prepandemic levels.…

WASHINGTON—Former Treasury Department official Michael Barr is expected to pursue tougher oversight of the financial system and reverse some Trump-era policies if he wins confirmation as the Federal Reserve’s top bank regulator.Mr. Barr, who worked in the Obama administration, is scheduled to face the Senate Banking Committee in a confirmation hearing Thursday, a hurdle to a four-year term as Fed vice chairman for supervision. If confirmed by the Senate, he would become the most influential…