© APFedEx will would cut more than 10 per cent of its global leadership team, adding to the more than 12,000 employees it has shed over the past seven months.The company will also consolidate some teams and functions, building on plans announced last year to…

Adani Enterprises has called off its $2.4bn equity fundraising in the latest blow to Indian billionaire Gautam Adani, who has seen shares in his industrial empire tumble after a short seller made allegations of fraud and stock manipulation. The decision to pull the share sale…

Financial data group Ion Markets has suffered a cyber attack that has affected parts of the vital financial plumbing that underlies the vast derivatives trading industry. The Dublin-based company said its cleared derivatives unit was hit by a “cyber security event” on Tuesday. It said…

In recent years, some investment pundits promoted Indian stocks as an alternative to “uninvestable” Chinese equities. That thesis has taken a heavy blow from the Adani affair. This is the latest in a string of scandals to rock Indian markets.Short seller Hindenburg Research has alleged…

Lebanon has devalued its currency by 90 per cent as it seeks to address a deep economic crisis, in a move that still leaves the pound far above its parallel black market rate.The Banque du Liban said on Wednesday that it was setting the Lebanese…

The UK has set out a sweeping new regulatory regime for the cryptocurrency industry that aims to bring the rules governing the issuance, trading and lending of crypto tokens closely into line with those for traditional financial assets such as stocks and bonds.The proposals to…