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Gunvor has reported a more than doubling of its full-year profits, becoming the latest commodity trader to reveal bumper earnings for 2021 when it cashed in on rising demand for energy as lockdown restrictions eased. The Geneva-based company controlled by billionaire Torbjorn Tornqvist said on Tuesday its net income hit $726mn in the year to
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Elon Musk is the living embodiment of a Twitter feed — a rapid-fire mix of jokes, arguments and ideas. Chaos is part of the appeal. Trying to apply financial norms to his proposed takeover of Twitter is pointless. In two weeks Musk has disclosed a major stake in Twitter, agreed to join its board, reversed
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One podcast to start: A year after the collapse of Greensill Capital, DD’s Rob Smith and the FT’s Marc Filippino look back on how a slick pitch bamboozled investors and landed Britain’s former prime minister David Cameron in hot water. Listen to Monday’s episode of the FT News Briefing on Apple Podcasts, Spotify, FT.com or
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Last week, Bank of England researchers published a blog outlining a new study into the predictability of exchange rates. They stumbled over a simple strategy that appears to churn out results that would be the envy of any hedge fund trader. It’s simple: buy currencies against the dollar which attract little interest in options markets,
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“Modernise or decline”. A service under threat from “the explosion of digital media”. A company in need of “commercial confidence, capital and corporate experience”. Those were warnings not about Channel 4, though they chime with the tone of last year’s not exactly open-minded consultation about its future. They were instead made almost 14 years ago
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Professor Nick Bosanquet and Andrew Haldenby vividly highlight the impending emergency in world food stocks and the urgent need to increase arable planting (“Act now on food stocks to avert famine”, Letters, April 12). This is a need we in the UK are disregarding. The land in south Lincolnshire and much of East Anglia is
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