Thomasina Miers’ recipes for mushroom linguine with chard, and poached pears with spiced hazelnut crumble
US regional bank stocks fall amid Wall Street concern over credit markets
US regional banking stocks fell sharply on Thursday after two banks disclosed issues with bad and fraudulent loans, amplifying concerns on Wall Street around the state of credit markets.Zions Bancorp announced it had a $50m charge-off over two bad loans from its subsidiary, California Bank & Trust in San Diego. Western Alliance also said it was dealing with a fraudulent borrower.Zions stock was down over 11% by Thursday afternoon, while Western Alliance was down over 10%. Shares of Jefferies Financial Group were down 9% for the day
IMF chief reveals worries about private credit market keep her awake at night – as it happened
The head of the IMF has revealed that worries about a crisis in the private credit market keeps her awake at night, sometimes.Kristalina Georgieva was asked at today’s press briefing whether she is concerned about the health of the private credit markets, following the collapse of US auto parts supplier First Brands and car dealership Tricolor in recent weeks.Those failures prompted the boss of JP Morgan, Jamie Dimon, to warn this week that more “cockroaches” could emerge from the private credit sector.Q: Is this a concern for you about the health of the credit market – could it boil over into a crisis? How prepared is the world to cope with another crisis?Georgieva replies that the IMF is “concerned”, which it made clear in the financial stability report it issued this week.She says there has been a “very significant shift of financing” from the banking sector to non-bank financial institutions, to a point where more than half of financing is now there
Heed warnings from Wolmar on robotaxis | Brief letters
In assessing the merits of driverless taxis (Driverless taxis from Waymo will be on London’s roads next year, US firm announces, 15 October), passengers should consider the cautions presented in Christian Wolmar’s book Driverless Cars: On a Road to Nowhere. Adherence to Isaac Asimov’s first law of robotics (“A robot may not injure a human being”) requires the taxi to stop if a person steps in front of it. Highway robbery or worse may be facilitated.Prof Clive CoenKing’s College London Your article (Parliamentary staff of colour earn £2,000 less than white colleagues, study suggests, 12 October) says that disabled employees earn £646 less a year “than able-bodied colleagues”. Disabilities come in many forms, not all physical
Barrister found to have used AI to prepare for hearing after citing ‘fictitious’ cases
An immigration barrister was found by a judge to be using AI to do his work for a tribunal hearing after citing cases that were “entirely fictitious” or “wholly irrelevant”.Chowdhury Rahman was discovered using ChatGPT-like software to prepare his legal research, a tribunal heard. Rahman was found not only to have used AI to prepare his work, but “failed thereafter to undertake any proper checks on the accuracy”.The upper tribunal judge Mark Blundell said Rahman had even tried to hide the fact he had used AI and “wasted” the tribunal’s time. Blundell said he was considering reporting Rahman to the Bar Standards Board
England and New Zealand find ‘special’ camaraderie amid hard graft
As a gruelling 2025-26 schedule begins with a T20 series, both tourists and hosts stress the importance of enjoymentEngland’s white-ball team have played 24 times this year, most recently a little more than three weeks ago. New Zealand’s have played 28 games, the latest was this month. These are groups who spend a lot of time together, but before the start of their Twenty20 series on Saturday both chiselled some space out of their schedule to do something surprisingly unusual with each other: nothing very much.Brendon McCullum took his team to Queenstown in New Zealand’s Southern Alps where, in Harry Brook’s words, they were “just left to our own devices”. There was some hiking, a bit of go-karting and, inevitably, a lot of golf
Oisin Murphy: ‘I found escapism but also an awful lot of trouble in the bottle’
Champion jockey on pursuit of sobriety, his April car crash, a voracious need to win – and the poetry of Sylvia Plath‘I didn’t feel good,” Oisin Murphy says with a grimace as he gestures towards the birthday cards still standing in his house more than a month since he turned 30. Murphy has already spoken for an hour, in raw and moving detail, about the guilt he will feel when he has to walk down a guard of honour to mark his fifth champion jockeys’ title at Ascot on Saturday, his daily struggle with alcoholism, his near catastrophic return to drinking this summer, the dangers of racing and the Sylvia Plath poem he loves most.But the milestone of his 30th birthday troubles him. “It was incredibly significant because I never thought I’d get to 30,” Murphy says, as he uses a smouldering cigarillo to light another in an unbroken chain stretching across this corner of Lambourn.They call it the Valley of the Racehorse and, on a Monday morning, mist hangs over the village – in the same way that Murphy is enveloped in a cloud of smoke
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