Author: LoveWorld UK

The government has struck a last-minute deal for HSBC to buy Silicon Valley Bank’s UK operations, saving thousands of British tech startups and investors from big losses after the biggest bank failure since 2008. The takeover will override the Bank of England’s initial decision to place SVB UK into insolvency, after a run on the lender that was originally sparked by fears over the a multibillion-pound shortfall on the US parent company’s balance sheet. The US bank was closed and its assets seized by authorities on Friday. The acquisition – which only cost HSBC £1 – followed overnight talks between Downing Street,…

BBC executives are scrambling to repair relations with Gary Lineker and stave off a staff mutiny at the corporation, with hopes that the presenter could be back in post by next weekend. The row left the BBC’s chair, Richard Sharp, fighting for his future on Sunday night as Jeremy Hunt stopped short of backing him to guard the corporation’s impartiality in the wake of the row. The corporation’s director general, Tim Davie, jetted back from the US for crisis talks before an internal meeting on Monday that one source at the broadcaster predicted would be “carnage” if a breakthrough is not reached on Lineker’s…

Banking regulators announced an emergency measure on Sunday to fully protect deposits at Silicon Valley Bank, a critical move in averting a panic over the bank’s collapse. U.S. Treasury Department, the Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) have revealed the plan in a joint statement. “Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system,” the statement read. Treasury Secretary Janet Yellen, after consulting with the president and regulators, has authorized the plan that “fully protects all depositors.” Currently, the maximum amount of protection provided by the FDIC to any…

Prince Edward has been named as the new Duke of Edinburgh, Buckingham Palace has announced. The title, granted by King Charles III on the prince’s 59th birthday, will be held for his lifetime. The former Duke of Edinburgh was Prince Philip, who died in 2021, and who was given the title on the morning of his wedding to Princess Elizabeth, who later became Queen Elizabeth II. The new Duke and Duchess of Edinburgh, Sophie, will be in Edinburgh later. The couple are expected to attend an event in the Scottish capital on Friday marking the first year of conflict in…

Rishi Sunak and a series of his ministers are heading to Paris for a summit at which he will push Emmanuel Macron to assist him over Channel migrant crossings – but with little apparent chance of securing an immediate deal on returning people. The gathering in Paris, the first such UK-France summit in five years, is also based around wider bilateral issues such as defence and Ukraine. However, for Sunak’s domestic focus, it seems set to be dominated by the issue of small boats. The prime minister will meet the French president for talks at the Élysée Palace, with a joint press…

Storm Larisa is battering parts of the UK, with gales and blizzards causing significant disruption including trapping motorists for hours overnight on a motorway in the north of England. The Met Office has issued amber warnings for northern England, the Midlands, north Wales and Northern Ireland, where “significant disruption” to transport and power supplies is expected. Yellow warnings for snow cover much of the rest of the UK, with the exception of south-east England and western Scotland. The Met Office meteorologist Jonathan Vautrey said the storm, which has been named by the French weather service, was bringing rain and snow to the UK. “Storm…

House Speaker Kevin McCarthy (R-Calif.) has agreed to a full public release of the security footage recorded at the U.S. Capitol during the events of Jan. 6, 2021. In an interview with Breitbart News that aired on Thursday, McCarthy discussed his decision to share the footage with Fox News host Tucker Carlson and said defendants who are facing charges after going to the Capitol on Jan. 6 should be able to see the footage for their own defense in court. When asked whether he would fully release the Capitol security footage to the public, the Republican House speaker responded in…

“Bruno, Bruno” was the ecstatic cry offered to Manchester United’s talisman, whose goal here – his side’s third of the night – killed off Real Betis and gave the Portuguese a dash of redemption four days after the 7-0 humbling by Liverpool. Fernandes’s petulant display in that horror show led to his status as United’s stand-in captain being questioned, so to score in this Europa League last-16 first leg was the perfect response – as was the result for Erik ten Hag’s team. In choosing the same XI that earned the wrong kind of immortality at the hands of their arch rivals, the…

Matt Hancock was instructed by the Cabinet Office to tone claims in his memoir that the Covid-19 pandemic originated from a laboratory leak in China, according to leaked correspondence. Officials are said to have warned it would “cause problems” if he repeated the claim in his Pandemic Diaries and insisted he must make clear he was not reflecting the government’s view. The changes to the book were made after he submitted the manuscript to the Cabinet Office for review last year, according to The Telegraph – a procedure all former ministers are obliged to follow. The newspaper reported that Mr Hancock had wanted to say that “given how cagey…

Rishi Sunak’s government is understood to be planning to welcome in more foreign builders to tackle a chronic post-Brexit labour shortage in Britain’s construction industry. Despite the crackdown on illegal immigration routes, the government is said to be ready to add construction workers to a “shortage occupation list” in a bid to boost sluggish housebuilding. The building sector has suffered from acute lack of workers since Brexit caused many European labourers to return to the EU. The government’s Migration Advisory Committee (MAC) has recommended that bricklayers, plasterers, roofers and others construction workers should be added to the shortage list, according to the Financial Times.…