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Good morning for the financial times.

Today is Monday, January 16th, and this is your FT News Briefing.

US regulators are cracking down on a complicated investment product.

There's a lot of echoes of pre-2008 stuff in here.

More and more British consumers are turning to buy now, pay later.

And the FT's Gideon Rackman is in the Swiss Alps and tells us why he and other high flyers

trek to the world economic forum in Davos every year.

It's that kind of ability to do kind of political and business celebrity speed dating if you like.

I'm Joanna Gau, in for Mark Filipino, and here's the news you need to start your day.

In the UK, a new survey shows that more and more people are using buy now, pay later services.

They allow people to buy things and pay later, or in installments.

You might have seen services like Affirm, Clarna, or Afterpay as you checked out of your latest

online shop. Demand is rising among all age groups because people are being hit hard by the

cost of living crisis. But the service is unregulated in the UK and non-profits worry about the rising

demand for credit. US regulators are cracking down on a kind of investment vehicle marketed by

private equity groups. It's called a collateralized fund obligation. And if that sounds complex,

it is. The FT's K Wiggins describes it like this.

Basically, a collateralized fund obligation is a box. That's the best way to think of it. It's a box

containing stakes in lots of different private equity funds and sometimes private debt funds,

private real estate funds, private infrastructure funds. That box then bundles all of those

...