1. FTSE’s losses mount
At the close, the FTSE 100 was down 2.6% to finish below the 7,600 level at 7,549 points
2. Biden tells SVB bosses: You’re Fired!
Taxpayers nor customers will feel the brunt of Silicon Valley Bank’s and Signature Bank’s failures, US president Joe Biden today pronounced.
3. HSBC rescues SVB’s UK arm
HSBC paid a nominal £1 for the business, with the exception of SVB UK's insolvent parent company.
4. Netflix bruised following the Oscars
A24, an 11-year-old arthouse film studio, took home ten awards including every acting-based award, best picture, and best director for its films Everything Everywhere All at Once and The Whale.
5. Direct Line laments inflation and bad weather
For the 12 months to 31 December 2022, operating profit tumbled 95% to £32mln from £590mln