Good morning.
The UK technology sector has received a welcome boost this morning after it emerged that SoftBank plans to include part of its stake in chip designer Arm in London.
The Japanese conglomerate had been preparing an initial public offering in New York after a $ 40 billion (£ 30 billion) sale to Nvidia was blocked for national security reasons.
But he is now looking at a list of some of his holdings in London, reports Bloomberg. This follows pressure from Boris Johnson and Chancellor Rishi Sunak’s campaign to keep the UK-based technology giant in the UK.
It could be a major coup for the government, which has faced pressure to prevent the Cambridge-based Arm from being the victim of a foreign takeover.
5 things to start the day
1) Helium airships will fly through Spain after the British manufacturer reaches a big deal of $ 600 million Air Nostrum expects its 100-seat vehicle to operate on its short-haul routes in 2026
2) The forecast error leaves students £ 1,200 in a worse position. New students are left with the lowest cost of living support in seven years thanks to a mistake
3) BT chief discussed plan to starve Phones 4U, court said phone company’s consumer arm denies allegations of inspiration with rivals to destroy retailer
4) More holiday misery on the horizon as airlines order summer flights canceled The industry urged to reduce flights they can not offer amid severe staff shortages
5) Coinbase downsizes 1,100 cryptocurrencies as Bitcoin sinks 10-pc CEO Brian Armstrong warns of “cryptocurrency winter” as digital currencies fall
What happened overnight
Tokyo shares opened lower in prudent trading ahead of a key US Federal Reserve decision.
The Nikkei 225 benchmark fell 0.2%. Hong Kong stocks started with small gains. The Hang Seng Index added 0.2 pc.
The Shanghai composite index rose 0.2%, while the Shenzhen composite index on China’s second-largest stock market also rose 0.2%.
Arrive today
- Company: Whitbread, WHSmith (business statement)
- Economy: Fed (US) interest rate decision, retail (US, China), industrial production (EU, China)