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By Huw Jones LONDON (Reuters) - Two British watchdogs set up to apply lessons from the financial crisis will sleepwalk into the next banking meltdown if they don't make big changes, a report said on Tuesday. Annual spending on financial regulation has tripled to 1.2 billion pounds since taxpayers had to bail out a string of UK lenders in the 2008 banking crisis.
Two women and two men were killed at a theme park on Australia's popular Gold Coast Tuesday, police said, with witnesses describing how "everyone was screaming" after a raft apparently flipped on a water ride. Queensland police said the four victims died on the Thunder River Rapids ride at the Dreamworld park, as Prime Minister Malcolm Turnbull extended his prayers to their families over what he called a "very, very, sad, tragic event". "Four adult persons have lost their lives as a result of the incident," Queensland Police spokesman Todd Reid told reporters on the Gold Coast.
YOKOHAMA, Japan (AP) — The top executive overseeing connected vehicles at Nissan and Renault believes the benefits of developing a common technology for connectivity within the Japanese and French auto partnership outweigh the risks of sustaining huge damage from a possible defect or cyberattack.