UK watchdog fines Monzo £21mn for ‘falling far short’ on financial crime

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK financial regulator has fined Monzo £21mn for repeatedly breaching rules against opening accounts for “high-risk customers” after the digital bank took on clients with “obviously implausible information”. The Financial Conduct Authority started reviewing … Read more

China’s weaponisation of rare earths is a new kind of trade war

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is the author of ‘Chip War’ and adviser to Vulcan Elements Shortly after Beijing announced new restrictions on exporting rare earth minerals and the specialised magnets they make, the world’s auto industry warned … Read more

Royal Gold agrees acquisitions worth $3.7bn as record prices drive sector consolidation

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Mining royalty company Royal Gold has agreed two acquisitions worth $3.7bn, in the latest deals to show how record bullion prices are driving consolidation in the highly fragmented sector. The Nasdaq-listed company said on Monday … Read more