Britain’s financial watchdogs are not doing enough to stop AI from harming consumers or destabilising markets, a group of lawmakers said on Tuesday, urging regulators to move away from a "wait and see" approach as the technology is deployed widely, Reuters reported. The Financial Conduct Authority and the Bank of England should start running AI‑specific stress tests to help firms prepare for market shocks triggered by automated systems, the Treasury Committee said in a report on AI in financial services.

The number of U.K. firms forced to liquidate rose to the highest level in more than a decade last year, as higher taxes and a challenging economic outlook weighed on businesses, Bloomberg News reported. Compulsory liquidations, where creditors petition the courts to shut down a business that can’t pay its debt, climbed to 3,730, the most since 2012, according to the latest official data released earlier on Tuesday.

Norwegian hydrogen refueling station operator Hynion has announced its decision to file for bankruptcy after failing to reach a conclusive restructuring agreement with Bizcap AB and investor Gerhard Dahl, FuelCellWorks.com reported. The company, which had been battling a “critical financial situation,” said the deadline set by its board expired without resolution. Trading on the Oslo Børs will also be suspended as part of the process.

White label hotel management company Revo Hospitality, formerly known as HR Group, has filed for insolvency and is to be restructured under its own management by the summer, BoutiqueHotelNews.com reported. The company cited “increased wage costs and the sharp rise in minimum wages, but also higher costs for rent, energy and food” as contributing factors to the insolvency. “Above all, the strong expansion of the Revo Hospitality Group in recent years led to duplicate structures and integration problems,” it said. In 2008, Revo (then known as HR Group) took over its first hotel in Leipzig.

U.K. unemployment was unchanged in the three months through November, remaining close to pandemic-era highs and adding to concerns about the economy’s health, the Wall Street Journal reported. The headline rate of unemployment was 5.1% in September through November, unchanged compared with the three months through October, the U.K.’s Office for National Statistics said Tuesday. Annual wage growth, stripping out bonuses, was 4.5% on year, slowing after a rise of 4.6% in the three months through October.

President Donald Trump on Saturday vowed to implement a wave of increasing tariffs on European allies until the United States is allowed to buy Greenland, escalating a row over the future of Denmark's vast Arctic island, Reuters reported. In a post on Truth Social, Trump said additional 10% import tariffs would take effect on February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Great Britain — all already subject to tariffs imposed by Trump. Those tariffs would increase to 25% on June 1 and would continue until a deal was reached for the U.S.