If you’re an FX trader, it’s been a tough 20 years. Bloomberg says NatWest Group, once home to some of London’s top FX traders, has cut the number of people dedicated to G-10 FX trading by 70% over the past two decades. The trading jobs have disappeared, but a different kind of job has taken … Read more
Unlock Editor’s Digest for free Roula Khalaf, editor-in-chief of the FT, selects her favourite stories in this weekly newsletter. The growing interest of US financial institutions in contracts that allow people to bet on future events is fueling new growth in a market best known for the battle over regulation of the legality of betting … Read more
The US attempted to broker a deal for Swiss trading house Mercuria to acquire copper and cobalt mines in the Democratic Republic of Congo. The transaction was conditional on Washington lifting sanctions against controversial Israeli billionaire Dan Gertler. The unusual U.S. initiative, led by Amos Hochstein, President Joe Biden’s senior energy adviser, reflects the intensifying … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter. The world is heading towards “food wars” as geopolitical tensions and climate change push countries into conflict over dwindling supplies, one of the world’s largest agricultural commodity traders said. “We have fought many wars over … Read more
A hedge fund has named a former employee of Segantii Capital Management in connection with several transactions involving confidential Morgan Stanley information. Evolution Capital Management said in court filings that it believed its former employee Robert Gagliardi, a block trading specialist nicknamed “Gags,” was linked to some of the trades that U.S. authorities scrutinized in … Read more