Digital currencies will have a “very important place” in finance, according to veteran banker Bob Diamond, even as last year’s market carnage thwarted his plan to take stablecoin group Circle public.The former Barclays chief executive told the Financial Times that “there’s going to be a…

The writer is president of financial reform advocacy group Better Markets This year looks to be both busy and consequential for the development of better protection for investors and markets in the US. The ongoing crypto carnage is the latest reminder of how important that is.In…

International lenders and governments have pledged more than $9bn to help Pakistan recover after catastrophic floods last year displaced tens of millions and hit the country’s already struggling economy, which is facing an energy crunch and dwindling foreign reserves. After a donors’ conference in Geneva…

The hedge fund management firm of billionaire trader Chris Rokos plunged to a loss in its most recent financial results after its fund was hit by a sharp sell-off in government bonds, even though its traders have since been able to profit handsomely from a…

Russia’s Lukoil has agreed to sell its Sicilian refinery to an Israeli-backed private equity fund that has partnered with commodities trader Trafigura in a last-minute bid that gazumped an offer from US-based Crossbridge Energy Partners and oil trader Vitol.The deal, expected to close by the…

Emerging market equities have rallied more than a fifth from their October trough as easing global inflation and hopes the US central bank will soon slow its interest rate rises prompt investors to shift in to the asset class. The MSCI Emerging Markets index has…