If you find this podcast useful please give it a rating and review on iTunes by clicking here
5 Things You Need To Know, Today, on Monday 13th March 2023
5. HSBC Holdings has emerged as a potential 'white knight' bidder for Silicon Valley Bank (SVB) UK as the government and regulators seek to avert the lender's insolvency.
HSBC on Sunday night was exploring a bid for the British arm of the stricken technology-focused lender, joining a slew of smaller rivals in the emergency sale process triggered by the collapse into government ownership of its American parent.
4. Rishi Sunak will spend an extra 5 billion pounds ($6 billion) to replenish ammunition stocks and fund the next phase of a submarine pact with the United States and Australia in an update to Britain's foreign policy framework.
With his government unveiling the update to Britain's national security and international policy, Sunak, on a visit to the U.S., will also set out an "ambition" to increase defence spending to 2.5% of gross domestic product in the longer term.
3. People and businesses who have money deposited with failed US bank Sillicon Valley Bank (SVB) will be able to access all their cash from Monday, the US government has said.
A statement from the US Treasury, the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) said depositors would be fully protected.
2. More than four million struggling households are set to save £45 a year on energy bills from 1 July, the government has said.
This will happen by bringing prepayment energy charges in line with customers who pay by direct debit.
1. UK tech firms are anxiously waiting to find out what government support they will get after the collapse of Silicon Valley Bank (SVB) in the US.
An investment group has also offered to buy the bank's UK arm & Speaking to reporters in San Diego on Sunday evening, Prime Minister Rishi Sunak said: "We will have something to say very shortly"