Sam Bankman-Fried invested $20mn in a large venture capital fund that then took a stake in his FTX cryptocurrency exchange group, an arrangement that highlights close links between the fallen billionaire and some of his backers.In late 2021 Bankman-Fried invested in a fund managed by…

Four US senators have questioned whether top Wall Street law firm Sullivan & Cromwell could properly investigate possible wrongdoing at FTX as its bankruptcy counsel given its past work for the cryptocurrency exchange.The bipartisan group of senators said Sullivan & Cromwell’s legal work for FTX…

The Scottish government has proposed making the “fastest possible” transition away from oil and gas production, laying out an energy strategy that prioritises an accelerated shift to increased wind and hydrogen development.The ruling Scottish National party said on Tuesday its draft energy strategy had a…

It may not be a great time to be a Goldman Sachs shareholder. But lending to the Wall Street bank via cash deposits seems like a pretty good deal. Its high-yield Marcus saving account is offering an interest rate of 3.3 per cent.Financial conditions have…

Egypt has committed to reducing the military’s role in the economy as part of its $3bn IMF bailout package, as the Arab state grapples with a foreign currency crisis, a weakening pound and rising inflation. The IMF said in a statement on Tuesday that “critical”…

FTSE Russell has ejected dozens of companies from a family of stock indices for failing to meet more stringent environmental standards, the first time it has taken such a step.The index provider has removed 34 groups from its FTSE4Good All-World benchmark after deciding they failed…