Video: Goldman’s Swell Sees ‘Enormous’ Demand for U.S. Fixed Income Assets (Bloomberg)

Goldman’s Swell Sees ‘Enormous’ Demand for U.S. Fixed Income Assets

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Zambia is running out of money to pay its debts. It has asked bondholders for breathing space so that it can put a restructuring plan in place. The copper-rich African state is at risk of being the first country to default on its debts since the start of the coronavirus pandemic.



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But not the last. Zambia is

The logo of Germany’s Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn, Germany, April 15, 2019. REUTERS/Wolfgang Rattay

BERLIN (Reuters) – Germany’s financial watchdog BaFin is banning its staff from trading shares and other securities of the companies that it oversees in the wake of the Wirecard WDIG.DE accounting scandal, a senior finance ministry official told Reuters.

German regulatory officials bought and sold Wirecard shares in ever higher volumes as the payments company edged towards collapse, the German government has revealed, prompting criticism of the agency that polices finance.

Deputy finance minister Joerg Kukies said the aim was to restrict the trading activities of BaFin employees so that they can make decisions free of conflicts of interest.

“This is a good and necessary step,” Kukies said.

The finance ministry had disclosed that one fifth of BaFin staff had engaged in some kind of investment activity in 2019 and 2020, with an increasing interest in Wirecard in the months ahead of its collapse.

The ban affects not only shares, but also bonds and derivatives of the companies BaFin supervises, as well as all EU financial companies.

BaFin is overseen by the finance ministry.

Reporting by Christian Kraemer; Writing by Tom Sims; Editing by Angus MacSwan

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CLEVELAND, Ohio — A bill to bail out Ohio’s two nuclear power plants has led to one of the state’s biggest scandals … and it’s unclear if the plants really needed the money.



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That’s because the current owner of the two power plants, Energy Harbor, refuses to say if the plants are profitable. Cleveland.com editor Chris Quinn says many people are now wondering if the $1.3 billion bailout was even necessary. The battle over voting continues in the courts, with a federal judge sidestepping a ruling on whether to place multiple drop boxes in counties across the state. And Cleveland will be in the national spotlight this week when President Trump and challenger Joe Biden meet for their first debate.

Hear these stories and more in today’s podcast.

The podcast is a summary of cleveland.com’s morning newsletter The Wake Up. You can receive The Wake Up through email at 5:30 a.m. each weekday by subscribing here.

You can get our podcasts delivered directly to your phone, and we have an Apple podcasts channel exclusively for this podcast. Subscribe here.

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