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I thought I would make a thread on what caught you eye in the news good or bad. This follows on from last week when I posted about the MP Lee Anderson who suggested we could cook a meal from scratch for 30p and foodbanks weren’t needed if we could cook.
So today another Tory MP Racheal Maclean the safeguarding minister has said “That people struggling with the cost of living should take on more hours or move to a better-paid job”
How does a comment like this help the most vulnerable in society. Those that can’t work, the disabled pensioners or even those that can only take up low paid work for what ever reason. I find Mp’s and ministers are so out of touch with with the public, the comments they come out with are beyond nonsense.
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Nonsense article. Arm is now Japanese owned. It will list where it thinks it can raise most money, which is New York.
It may be owned by Japans Softbank group but its headquarters is in Cambridge and the London Stock Exchange had hoped it would launch there.
@jojoe is entirely correct to highlight the fact that yet again Brexit cost the UK dear.Hermann Hauser co founder of the chip designer didn’t mince his words
“The fact is that New York of course is a much deeper market than London, partially because of the Brexit idiocy the image of London has suffered a lot in the international community.”
ARM was the jewel in the crown of British chip design but even a attempt by the UK prime minister wasn’t enough to convince the company to register with London.
As I said, nonsense article. Daf, please explain what Brexit has got to do with it. In your own words…
Firstly Wigwam what makes you more of an expert about where a successful Chip design company should register than its co-founder? It’s all very well shooting the messenger but the fact is its indicative of the way the major economies and their industries view the UK after Brexit.
Quite simply this Country is diminished as a result of Brexit. London is no longer the financial capital of Europe and our economy is the worse performing of any of the G7 Countries. Coupled with the most inept governance over the last 13 years, you have a perfect storm.
Russ Shaw CBE, founder of Tech London Advocates and Global Tech Advocates, stated Arm’s decision “must be upheld as a case study for the UK Government of how ‘not to do it'” – citing the company’s sale to SoftBank in 2016 as a factor determining its US-only listing.
Brexit and this Government, what a toxic mix!
So you don’t think that the better regulatory protection of shareholders of UK listed companies has anything to do with it, making listing here less attractive than New York?
Since ARM’s failed take over bid the company delayed any listing, by its managers who feared the global economic downturn and a slump in tech shares could spook potential investors. Founder and chief executive Masayoshi Son said last year he would probably look to the tech-heavy Nasdaq exchange, due to its high concentration of technology stocks, as the best way forward. He added the company will look at a UK listing “as global markets improve”
“Chief executive Rene Haas said in a statement: “After engagement with the British Government and the [Financial Conduct Authority] over several months, SoftBank and Arm have determined that pursuing a US-only listing of Arm in 2023 is the best path forward for the company and its stakeholders” for now.
Chief executive Rene Haas said last month, Arm is increasing its UK presence and headcount, including opening a new site in Bristol, and will keep its material intellectual property, headquarters and operations, in the UK.
“Arm is proud of its British heritage, and continues to work with the British Government,” he said. “We will continue to invest and play a significant role in the British tech ecosystem.”Arm had a dual listing on the London stock exchange and the Nasdaq for 18 years, before it was bought by SoftBank for $32bn (£26.7bn) in 2016.
In 2020, SoftBank decided to sell Arm to help shore up its finances after losing money on other investments. However efforts by SoftBank to sell Arm to graphics card giant Nvidia collapsed last year as competition regulators in the UK, US and Europe probed whether the deal would push up chip prices and reduce choice.
Only the Guardian mentions the companies listing with Nasdaq has anything to do with brexit. If that were the case SoftBank wouldn’t be expanding in the UK.
Not only the Guardian, The Telegraph as well. The story is from an appearance on the Radio 4 Today programme by ARM’s CEO.
Enyaq EV
Indeed. Arms ex CEO who has no connection with Arm since he sold it, used the expedition ‘Brexit Idiocy’ which the pro EU mainstream media jumped on with glee.
Short answer no! Had that been the case London would never have been the Financial Capital of Europe would it? If the only consideration of Companies was to avoid regulation they would have chosen New York et al.
I know it’s difficult for you to admit it but Brexit is a national humiliation and appears to be heading from bad to worse.
We have lost the listing of this company from London primarily because of woefully inadequate governance and Brexit which is exactly what the co founder of the company stated.
Its like listening to George Osborne telling what the UK should do next, even though he’s past history. Just like the co founder of ARM as no say within the company since selling it. The important point is ARM’s new owner SoftBank have not blamed brexit rather its decsion to list on the world top heavy tech exchange, due to the worlds low economic growth.
We have lost the listing of this company from London
How can we have lost something we never had?
ARM has been a private company since SoftBank took ownership in 2016.
Sat here on my 3rd bowl of popcorn. Laughing to myself. ???
Joss
Current car: BMW X2 sDrive 20i M Sport 5dr Step Auto In metallic Portimão Blue. 04:10:2025
Previous car:Peugeot 308 GT Premium 1.2 Pure tech Petrol.Come on @joss, what happened to Daf’s last post? It was awaiting moderation. Don’t keep it to yourself!
Yes @joss do share, I’ll buy you a bag of ? ?
With respect whether he has connections with the company or not he still has infinitely more knowledge of the company than you.
The fear was that Brexit would put Londons pre-eminence in Europe at risk and so it is coming to pass, it’s already slipped behind Paris in some comparisons and Amsterdam has overtaken it on Share volumes. Worries about its future are gaining traction in mainstream news outlets especially as CRH are, like ARM, moving their primary stock market listing to New York.
You and @kezo can carry on impersonating the three wise Monkeys but Brexit has made this country a laughing stock and Sunak is correct to look at ways of gaining a much closer trading relationship with the EU before it’s too late.
@kezo you are wrong when you said it’s just the Guardian. Schroders,Bloomberg,Investment week, This is Money, the LSE and many others have also stated that Brexit has adversely affected London.Youth Tracker poll for ITV Peston show found that a massive 86% of young people aged 18-25 would vote to rejoin the EU if there was another referendum.
Enyaq EV
Youth Tracker poll for ITV Peston show found that a massive 86% of young people aged 18-25 would vote to rejoin the EU if there was another referendum.
That doesn’t surprise me and more or less mimicks what they voted at the time.
@Daf do you read others comments or just reply to what you think you have read based on your own narrative?
With respect whether he has connections with the company or not he still has infinitely more knowledge of the company than you.
He sold the company back in 2016 and can only assume how the company is run today, other than how ARM’s mobile phone chips are made. However alot has happened since then, not least its current owners ran into major finacial difficulties and tried to sell ARM to Nivada. The Pandemic, global down turn and of caurse brexit, as you’ll want me to include and only right to do so.
ARM itself is a rare cmpany with unrivalled control over a global industry. Its technology is used in 95% of premium smart phones. AI, servers, PC’s also use its chips. Its success was based on on a simple business model, which charged chip designer license and royalty fees to access its technolgies.
However under SoftBanks ownership its altering of is royalty programme and is starting to make its own chips and raising its prices (a stark difference to how it was previously run) However by raising fees and ditching its royalty programme carries the risk of accellerating the shift of its clients and investments to its competitors, who are moving towards license free models.
like ARM, moving their primary stock market listing to New York.
ARM owner SoftBank has never listed the company on any stock market. Since SoftBank took ownership in 2016, ARM went into private ownership. As I said earier only you chose to ingnore it for your own narrative.
So therefore: How can we have lost something we never had?
@kezo you are wrong when you said it’s just the Guardian. Schroders,Bloomberg,Investment week, This is Money, the LSE and many others have also stated that Brexit has adversely affected London.
The subject is on ARM. Rather than going off the beaten track, feel free to name other companies after this sunject has finished.
You and @kezo can carry on impersonating the three wise Monkeys
Pitty there wasn’t a forth called “Daft” ?
I wil fill in any blanks Ive missed tomorrow!
Come on @joss, what happened to Daf’s last post? It was awaiting moderation. Don’t keep it to yourself!
Erm nowt to do with me.
Joss
Current car: BMW X2 sDrive 20i M Sport 5dr Step Auto In metallic Portimão Blue. 04:10:2025
Previous car:Peugeot 308 GT Premium 1.2 Pure tech Petrol.@kezo “do you read others comments or just reply to what you think you have read based on your own narrative”
Yes but only the serious ones. Anyone that uses a racist Nazi loving bigot like De Santis to back up their Brexit views cannot be taken seriously.
You obviously dont understand that the LSE has lost the chance for ARM to rejoin it but I’m afraid that’s your problem.
You really should stick to the subjects you understand and avoid conspiracy theorists if you want to be taken seriously.
Good to see the next generation aren’t into self harm.
Dover delays are a lesson in Brexit realities – and they may be about to get worse
There’s deep disquiet in the food trade over forthcoming sanitary checks. When such checks were previously required, some UK companies were forced to stop exporting.Above from Sky News, yet another advantage of Brexit
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