Klarna hits $19bn value in Wall Street debut

Klarna, the Swedish buy-now, pay-later lender, made its Wall Street debut, reaching a market value exceeding $19bn. With a significant global presence in 26 countries and 93 million active users, the firm faced questions about potential risks of overspending. Despite an initial surge in shares, Klarna's profitability in the US has been impacted by increased transaction costs, resulting in reported losses in recent quarters.