Good morning.
The British technology sector received a welcome boost this morning after it became clear that SoftBank plans to list part of its stake in chip designer Arm in London.
The Japanese conglomerate was preparing an initial public offering in New York after the sale of $ 40 billion (£ 30 billion) to Nvidia was blocked for national security reasons.
But now he is considering listing some of his share in London, Bloomberg reports. This is due to pressure from Boris Johnson and Chancellor Rishi Sunak’s campaign to keep the British technology giant based in the United Kingdom.
This could be a major coup for the government, which is facing pressure to prevent the Cambridge-based Arm from falling victim to foreign takeovers.
5 things to start your day with
1) Helium airships will fly through Spain after the British manufacturer concluded a $ 600 million deal Air Nostrum hopes to launch its 100-seater vehicle on short-haul routes by 2026.
2) Forecasting error puts students at a disadvantage by £ 1,200 New students left with the lowest living costs of seven years due to an error
3) The head of BT discussed the plan to starve 4U phones, the court said. The head of the consumer division of the telephone company denies accusations of intrigue with competitors for the destruction of a retailer
4) More misery on the horizon as airlines have been ordered to cancel summer flights
5) Coinbase cuts 1,100 jobs for cryptocurrencies as bitcoin shrinks by 10% CEO Brian Armstrong warns of “crypto winter” after digital currencies fall
What happened during the night
Shares of Tokyo opened down in cautious trading ahead of a key decision by the US Federal Reserve.
The Nikkei 225 benchmark fell 0.2 percent. Hong Kong shares started with small profits. The Hang Seng index added 0.2 pcs.
The Shanghai Composite Index rose 0.2 percent, while the Shenzhen Composite Index on China’s second stock exchange also rose 0.2 percent.
Expect today
- Corporate: Whitbread, WHSmith (trade statement)
- Economy: Fed interest rate decision (US), retail (US, China), industrial production (EU, China)
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