The governor of the Bank of England, Andrew Bailey, has voiced concerns over the collapse of two US companies, suggesting they could signal broader issues within the financial system. He drew parallels to the 2008 financial crisis, prompting fears of a "canary in the coalmine" situation.

• The collapse of car parts supplier First Brands and subprime car lender Tricolor has raised "alarm bells" for the Bank of England.
• Andrew Bailey, governor of the Bank of England, highlighted the potential for wider financial problems and the upcoming "stress test" of private equity and credit firms.
• The practice of "slicing and dicing and tranching of loan structures" in private credit is reminiscent of pre-2008 financial crisis complexities, according to Bailey.