Friday newspaper round-up: Arm, UK hotels, Rolls-Royce

The $75bn takeover of Cambridge-based chip designer Arm by its rival Nvidia is in jeopardy after US regulators followed the UK and Europe in moving to block “the largest semiconductor chip merger in history”. The Federal Trade Commission has sued to stop the takeover of Arm, which has ballooned in value from $40bn to $75bn since the offer was made last September due to a stock market surge in the chip sector, as seemingly almost insurmountable opposition now mounts after regulator action in Europe and the UK. – Guardian
Hotels in the UK have been hit by a wave of Christmas cancellations as business customers call off parties and events amid concerns about the spread of the Omicron variant of Covid-19. The Best Western Hotel Group, a franchise operator, said mixed messaging from ministers had already damaged trade, with concerns Christmas 2021 would have to be “written off”, while one independent hotelier in Devon pleaded with government not to “hang hospitality out to dry”. – Guardian

A major North Sea oil project which it was claimed would help secure UK energy supplies has been plunged into crisis after Shell pulled out citing doubts about its viability, amid a lack of political support in Westminster and Holyrood. The Cambo oil field off the Shetland Islands was set to create an estimated 1,000 jobs and produce more than 170m barrels of oil equivalent in a boost to the UK’s oil and gas industry even as it moves towards greener energy. – Telegraph

The government’s efforts to tackle fraudulent attacks on the £47 billion bounce back loan scheme are “inadequate” and have been “implemented too slowly to be effective”, the public spending watchdog has warned. The National Audit Office has criticised the Department for Business, Energy and Industrial Strategy for what it says was a lack of action to mitigate the billions of pounds of losses that are set to arise from the scheme. – The Times

Rolls-Royce continues to expand its share of the tugboat propulsion market in Brazil after supplying eight 16V 4000 M63 mtu engines to the Rio Maguari shipyard. The engines, each with an output of 2,000 kW, will power four new tugboats that the shipyard is building for Svitzer, a leading tugboat shipping company, to be used at ports around the country. The engines will be delivered by May next year. – The Times

This Week’s Most Read

  • Baronsmead VCTs exit first sterling unicorn after Ideagen sale

    Gresham House’s Baronsmead VCTs have exited their stake in compliance software business Ideagen following its sale to private equity firm Hg Capital. The deal values

  • Fund Research Governance: is ‘fine’ good enough?

    Written by Laura Bampfylde, Director, Global Assets – Wealth, at Redington One of the most enlightening books I’ve read was written by husband-and-wife psychologists, Alan

  • ONS: Repossessions by county court bailiffs increase from 45 to 770 (1,611%)

    Following the latest Mortgage and landlord possession statistics published this morning, which reveal repossessions by county court bailiffs increased from 45 to 770 (1,611%) between

  • Creating a profitable HNW/LNW advice service in specialist markets

    By Simon Binney, Business Development Director, Wealth Wizards For financial planning firms targeting new clients, often the problem is not attracting clients to their business,

  • PIMCO: US CPI Preview

    By Tiffany Wilding, North American Economist, and Allison Boxer, Economist at PIMCO  This week focus turns to inflation, where recent commodity price weakness will become

  • #Podcast episode 7: JM Finn’s Sir John Royden on his superhuman swim for The Brain Tumour Charity

    This week’s podcast episode is something a bit different for IFA Talk…but certainly not an episode to be missed! Sue and Bex talk to Sir

  • FCA issues letter to alternative investment firms’ CEOs – experts comment

    The FCA has today issued a six page letter to CEOs of alternative investment firms about their supervisory strategy for such firms. David Newman, chief

  • Tackling Burnout in Financial Services

    Financial services professionals are increasingly suffering with stress which can often lead to burnout – a state of physical and emotional exhaustion. Latest research tells

  • PIMCO’s Tiffany Wilding: The Era of Kinder, Gentler Central Banks Is Over

    By Tiffany Wilding, PIMCO’s North American Economist Last week, the Bank of England (BoE) was the first major central bank to admit that it is

  • Advisers concerned clients are risking HMRC fines over trusts

    Advisers are concerned about their clients risking HMRC fines, by failing to register trusts with the Trust Registration Service (TRS) by 1st September, according to

Latest IFA Magazine Podcast Episodes

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine