German payment service provider Wirecard said Monday it has concluded that 1.9 billion euros ($2.1 billion) that were supposed to be held in two accounts probably don’t exist, deepening troubles that last week prompted the resignation of its chief executive. Wirecard AG was once regarded as a star of the growing financial technology sector, but its shares have fallen sharply after the company became the subject of multiple Financial Times reports about accounting irregularities in its Asian operations. Wirecard disputed the reports, which started in February 2019, and said it was the victim of speculators.

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Finland’s Nokia Oyj plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the unit’s workforce, the group said on Monday, confirming an earlier Reuters report. The announcement has political resonance in France as Nokia bought the unit five years ago on condition it would keep jobs. Nokia, which competes with Ericsson and Huawei on lucrative 5G networks, said in a statement the staff reduction was needed because of significant cost pressures.

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TikTok users say their videos helped drive down attendance at Trump’s Tulsa rally; the White House prepares for a second wave; China halts some chicken imports from Tyson over Covid-19 concerns. WSJ’s Shelby Holliday has the latest on the pandemic. Photo: Nicholas Kamm/AFP

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Stock futures rose Monday morning as market participants weighed prospects that the virus-stricken economy would rebound quickly against fears over a rise in new cases over the weekend.

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Republican and Democratic lawmakers are pushing for police reform, and while there is some agreement, there is also some division. WSJ’s Gerald F. Seib talks with reporter Kristina Peterson about the challenges they face to meet in the middle. Photo: Sarah Silbiger/CNP via ZUMA Wire

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Top news and what to watch in the markets on Monday, June 22, 2020.

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Jun.22 — Bank of England Governor Andrew Bailey signaled a major shift in the central bank’s strategy for removing emergency stimulus, stressing the need to reduce the institution’s balance sheet before hiking interest rates.
Writing for Bloomberg Opinion, Bailey said such a plan would give officials more firepower in future crises. David Goodman reports on “Bloomberg Markets: European Open.”

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Jun.22 — U.S. Securities and Exchange Commission Chairman Jay Clayton was surprised and dismayed by the political battle that quickly erupted over his pending nomination to be the top federal prosecutor in New York, said people familiar with the matter. Derek Wallbank reports on “Bloomberg Daybreak: Europe.”

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Jun.22 — Hong Kong’s autonomy will be top of the agenda when European Commission President Ursula von der Leyen and European Council President Charles Michel hold video conferences today with Chinese Premier Li Keqiang and President Xi Jinping. Maria Tadeo reports on “Bloomberg Markets: European Open.”

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