Mark Carney testifies to MPs on Brexit financial stability – business live

Rolling coverage of the latest economic and financial news, as Bank of England governor Mark Carney appears before the Treasury committee

Mark Carney’s hearing is underway now. It’s being streamed live here.

Newsflash: Environmental threats, and politicians inability to tackle them, are the biggest risk to the global economy, the World Economic Forum has warned.

WEF’s annual global risks report, just released, cites extreme weather events, natural disasters, and failure to address climate change as the three biggest threats.

Is the world sleepwalking into a crisis? Global risks are intensifying but the collective will to tackle them appears to be lacking. Instead, divisions are hardening…

Nine out of 10 respondents expect worsening economic and political confrontations between major powers this year. Over a ten-year horizon, extreme weather and climate-change policy failures are seen as the gravest threats.

Related: Global tensions holding back climate change fight, says WEF

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