The UK tech industry received a welcome boost this morning as it emerged that SoftBank plans to introduce a stake in chip designer Arm in London. The Japanese heterogeneous group was preparing an initial public offering in New York after a $ 40 billion (30 30 billion) sale to Nvidia was blocked for national security reasons. However, it is now considering listing some of its shares in London, according to Bloomberg. This follows pressure from Boris Johnson and Chancellor Risi Sunak’s campaign to retain the UK-based tech giant. It could be a major coup for the government, which has come under pressure to prevent the Cambridge-based Arm from falling victim to a foreign takeover.

5 things to start your day with

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  3. BT boss discusses plan to starve Phones 4U, court says head of consumer’s telephony department denies allegations of intrigue with rivals to destroy retailer
  4. More misery on horizon holidays as airlines ordered to cancel summer flights Coinbase cuts 1,100 encryption jobs as Bitcoin sinks 10% CEO Brian Armstrong warns of ‘winter encryption’ as digital currencies plummet

What happened overnight

Tokyo shares opened in volatile trading ahead of a key US Federal Reserve decision. The Nikkei 225 index fell 0.2%. Hong Kong stocks started with small gains. Hang Seng was added 0.2 pc. The Shanghai Composite Index rose 0.2% while the Shenzhen Composite Index on the Chinese Second Stock Exchange also rose 0.2%.

He is coming today

Corporate: Whitbread, WHSmith (transaction statement) Finance: Fed (US) interest rate decision, retail (US, China), industrial production (EU, China)