* HSBC: HSBC said it is acquiring the UK subsidiary
of stricken Silicon Valley Bank for 1 pound, rescuing a key
lender for technology start-ups in Britain.
* SVB: Britain's finance minister Jeremy Hunt said the
government and the Bank of England had
facilitated a private sale of the UK arm of Silicon Valley Bank to HSBC , in a move which would protect deposits without taxpayer support.
* DIRECT LINE: British motor insurer Direct Line's operating profit dropped 95% in 2022 after inflation drove up
the cost of motor repairs and warned that 2023 would be impacted
by higher than previously expected claims inflation.
* Phoenix: British life insurer Phoenix said
2022 operating profit rose 1%, higher than analysts had
expected, and forecast cash generation of up to 1.4 billion
pounds ($1.69 billion) this year.
* WINDWARD: British technology company Windward said on
Monday it did not have material exposure to Silicon Valley Bank
following the failure of the U.S. start-up-focused lender SVB
Financial Group last week.
* EXPORT: Britain
approved a sharp increase in exports of submarine parts and technology last year to Taiwan as it upgrades its naval forces, a move that could impact British ties with China.
* TAX: A cap on revenue and the lack of the kind of
incentives offered to oil explorers are
blocking the development of renewable energy in Britain , say industry officials who are pressing for changes ahead of this week's budget.
* For more on the factors affecting European stocks, please click on: TODAY'S UK PAPERS > Financial Times > Other business headlines ($1 = 0.8255 pounds) ($1 = 0.8263 pounds) (Reporting by Anchal Rana in Bengaluru)
