The Bank of England has sharply criticised UK lenders for failing to tackle the risk management blind spots exposed by the collapse of a multibillion-dollar hedge fund, the energy price shock and other crises that have rocked financial markets in recent years. The rebuke, delivered…

Nickel reduces corrosion. The metal has had the opposite effect on the reputation of the London Metal Exchange, owned by Hong Kong Exchanges and Clearing. A report by Oliver Wyman attempts to explain what happened in a spectacular short squeeze last March. The consultancy sidesteps…

Cameron Winklevoss has called for the board of conglomerate Digital Currency Group to oust its chief executive, in a growing spat over debts stemming from last year’s FTX crypto shock.In a second open letter published on Tuesday, Winklevoss, who runs crypto exchange Gemini with his…

The London Metal Exchange should strengthen its rules and oversight to prevent short-term market distortions, according to an independent review of March’s nickel market chaos which found the marketplace had insufficient tools to stop prices spiralling out of control.The report, conducted by consultancy Oliver Wyman,…

Cryptocurrency exchange Coinbase is cutting 950 jobs as the industry continues to struggle in the wake of the collapse of FTX.Brian Armstrong, Coinbase chief executive, said on Tuesday that it would cut 25 per cent of its employees, to ensure that it could “weather downturns…

Welcome back to Energy Source. A discouraging data point in the climate fight to share today: US greenhouse gas emissions were up again last year, putting the country further behind its climate commitments under the Paris agreement, according to new data from Rhodium Group, Derek reports.…