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Lord Wolfson tells the BBC Next now typically receives double the number of applicants for one role than it did two years ago.
Senior independent director Amanda Blanc says the board has been "surprised and disappointed" to learn of the issues.
The former health secretary accused regulators and politicians of being "asleep at the wheel" on the issue.
The new Luce model has divided opinion on social media, and comes despite intense pressure from Chinese EV makers.
Trump said on Saturday that an agreement would include the reopening of the Strait of Hormuz, without giving further details.