The manager of Baillie Gifford’s flagship fund has admitted that 2022 was a “humbling year” after the investment group lost more than $14bn on stakes in Tesla and ecommerce group Shopify.Tom Slater, manager of the firm’s £13.8bn Scottish Mortgage Investment Trust, told an investor forum in…

A Bulgarian office belonging to crypto lender Nexo has been raided by prosecutors as part of an investigation into money laundering and other offences, as global authorities step up their scrutiny of companies that lend customers’ crypto assets in search of big returns.The probe of…

Sweden’s state-owned mining company LKAB has said it has discovered Europe’s largest deposit of rare earth metals. The discovery bolsters the continent’s ambition to rely less on imported raw materials needed for the green transition. The deposit, dubbed Per Geijer, is located north of the…

The faces of copper fans are frequently as red as the metal they prize. Its price often fails to match demand prospects. Recently, bulls have had less to feel embarrassed about. The metal’s value has jumped to seven-month highs, above $9,120 per tonne. Not much…

The Bank of England has fully unwound the bond-buying programme it initiated when Liz Truss was prime minister, bringing to an end the emergency measures needed to stabilise the UK economy after her disastrous “mini” Budget. Announcing it had sold £19.3bn of government bonds back…

Sanjeev Gupta’s Liberty Steel is to cut production and idle some of its smaller plants in a restructuring that threatens 440 jobs, deepening the crisis in Britain’s steel industry. Under the plan, Liberty Steel, which is part of Gupta’s GFG Alliance, will focus on its…