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Receive free Arm Ltd updates We’ll send you a myFT Daily Digest email rounding up the latest Arm Ltd news every morning. Shares in SoftBank-backed chipmaker Arm jumped by 10 per cent as it began trading on the Nasdaq exchange on Thursday. Arm opened at $56.10 per share on Thursday afternoon, significantly above the $51

Receive free Arm Ltd updates We’ll send you a myFT Daily Digest email rounding up the latest Arm Ltd news every morning. Shares in UK chip designer Arm are expected to be priced above the initial range at as much as $52 per share, which would give the company a valuation of nearly $54bn, according

BP chief executive Bernard Looney is to resign less than four years into the job, according to two people with knowledge of the decision. Looney, 53, joined BP in 1991 aged 21 and has spent his entire career at the company. The Irish citizen was appointed chief executive in 2020 to transform the oil producer

The banks underwriting Arm’s $50bn listing will close orders for shares a day earlier than planned due to strong demand for the biggest initial public offering in nearly two years. People familiar with the matter said the IPO for the UK-based chip designer, which is more than five times oversubscribed, will close on Tuesday, instead

Janet Yellen has rejected accusations that the G20 watered down its position on Ukraine over the weekend, as the US treasury secretary touted the summit of world leaders’ accomplishments in boosting funding for developing economies. In an interview with the Financial Times, Yellen defended the joint statement agreed at the end of the summit in

G20 leaders have failed to condemn Russia’s invasion of Ukraine in a joint statement after China and Russia rejected language that blamed Moscow for the conflict, highlighting the lack of global consensus in support of Kyiv. The New Delhi summit declaration refers only to the “war in Ukraine”, a formulation that supporters of Kyiv such

SoftBank’s $50bn flotation of Arm is more than five times oversubscribed, according to bankers pitching investors on the biggest initial public offering in nearly two years, as the UK-based chip designer forecast accelerating revenue growth boosted by the artificial intelligence boom. Despite investor concerns about a drop in profits in Arm’s most recent quarter amid

The Treasury is preparing to increase the UK state pension by more than 8 per cent next year because of the controversial “triple lock”, which has raised retirees’ incomes faster than workers’ wages. The sharp increase in pension payments follows a 10.1 per cent rise this year, with pensioners protected from last year’s energy-driven inflation

The UK has struck a deal to rejoin the EU’s Horizon research programme, according to officials in London and Brussels, in a move welcomed by scientists and business. Rishi Sunak, UK prime minister, is expected to confirm on Thursday that Britain will take up its much-delayed associate membership of the €95.5bn Horizon programme, drawing a

Switzerland has proposed sweeping measures to clamp down on money laundering in an effort to shed the country’s reputation as a haven for ill-gotten gains. Finance minister Karin Keller-Sutter unveiled reforms on Wednesday to increase transparency and close legal loopholes by requiring the ultimate “beneficial owners” of trusts and companies to be declared. At present

UK foreign secretary James Cleverly has hit back at Conservative party critics ahead of a visit to Beijing this week, warning that failure to engage with China would be a sign of British “weakness”. Cleverly told the Financial Times he would tell his hosts on Wednesday that Britain welcomed Chinese investment provided it did not

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well

Wagner fighters made a makeshift memorial for their founder Yevgeny Prigozhin in St Petersburg on Thursday as the Kremlin maintained its silence on the warlord’s apparent demise in a plane crash. Supporters of Prigozhin, who is listed among the passengers of a private jet that crashed north-west of Moscow on Wednesday, killing all aboard, mourned

An aircraft said to be carrying notorious warlord Yevgeny Prigozhin, whose Wagner group launched a failed mutiny in June, has crashed on a flight from Moscow to St Petersburg, according to Russian officials. All 10 people on the plane, including three crew members, died in the crash, Russia’s emergency ministry said, according to state newswire

Prospective investors in Arm’s initial public offering have raised concerns over the UK chip designer’s exposure to China, after the company warned of “significant risks” in the country. Managers at four separate funds considering an investment in Arm told the Financial Times that the prospectus for the planned listing on Nasdaq in September confirmed some

FTSE 100 bosses were given a 16 per cent pay rise on average last year, catapulting their earnings to 118 times that of the median UK worker and widening the income gap between executives and ordinary staff.  Bosses on the blue-chip index were paid a median £3.91mn each, a £530,000 rise from the previous year,

China is expected to make the biggest cuts this year to two of its core lending rates, as pressure mounts on policymakers and banks to reverse a trend of slowing momentum and revive flagging demand in the world’s second-biggest economy. The People’s Bank of China is set to announce reductions to both one-year and five-year