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British chip giant Arm chooses New York listing in a blow to London - TL;DR CNBC

British chip giant Arm chooses New York listing in a blow to London

Publishing timestamp: 2023-03-03 09:01:21


Summary

Arm and CRH, two of the FTSE 100's biggest companies, have announced plans to move their primary stock market listings to the US, raising fears that the UK stock market is losing out to international rivals. The UK government has been lobbying to persuade Arm to list its shares in the UK, but the company has decided to pursue a US-only listing this year. Other companies such as Flutter and Ferguson have also moved their listings to the US, while Pearson has not had any active conversations about changing its listing. London Stock Exchange Group CEO David Schwimmer said that London is still Europe's leading financial center.


Sentiment: NEUTRAL

Tickers: CRH-GB.FTSE9984.T-JP

Keywords: ftse 100u.s. economyunited statesdavid schwimmerunited kingdombusiness newsmarketslondonbusinessipo

Source: https://www.cnbc.com/2023/03/03/softbanks-arm-and-crh-choose-new-york-listing-in-a-blow-to-london.html


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