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US firm collapses ringing ‘alarm bells’, says Bank of England chief
The collapse of two US companies could be a sign of wider problems in the financial system and “alarm bells” were ringing, the governor of the Bank of England has said. Andrew Bailey told a House of Lords committee that it was important to take the failure of car parts supplier First Brands and subprime…
Tech billionaires seem to be doom prepping. Should we be worried?
Zoe KleinmanTechnology editor BBC Mark Zuckerberg is said to have started work on Koolau Ranch, his sprawling 1,400-acre compound on the Hawaiian island of Kauai, as far back as 2014. It is set to include a shelter, complete with its own energy and food supplies, though the carpenters and electricians working on the site were…
UK retail spending rose at lowest pace for 7 months in December
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK retail spending rose at the lowest pace for seven months in December and below the rate of inflation, pointing to a “drab” Christmas period for retailers as consumers continued to feel the impact of…
Learner drivers face 24-week wait as backlog continues for two more years
Pritti MistryBusiness reporter Getty Images The backlog of driving tests grew after the covid-19 lockdown Learner drivers face months of delays booking practical tests because a backlog will not be cleared until November 2027, a watchdog has warned. The National Audit Office (NAO) said there was a backlog of 1.1 million tests that were not…
Hotel adverts banned by watchdog over misleadingly cheap rooms
Archie MitchellBusiness reporter Getty Images Adverts by four of Britain’s biggest hotel and travel firms have been banned for stating misleading minimum prices for rooms. The Advertising Standards Authority (ASA) upheld complaints against the Hilton hotel group, Travelodge, Booking.com and Accor over their use of eye-catching so-called “from” prices. The watchdog found only a small…
