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 car lender Tricolor "very seriously" - and drew parallels with the 2008 financial crisis. He said it was…