Tuesday newspaper round-up: Arm, Nvidia, Air France-KLM, ‘Britcoin’, Tesco

by | Apr 20, 2021

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Ministers have ordered a formal investigation into the proposed $40 billion takeover of Arm by America’s Nvidia, citing concerns the deal could diminish Britain’s national security. Oliver Dowden, the culture secretary, has told the competition watchdog to begin a “phase one” investigation of the acquisition of the microchip designer, which is considered the most successful technology to have emerged from the UK in recent decades. – The Times
The French government has increased its stake in Air France-KLM to more than three times that of the Netherlands, strengthening its grip on the struggling airline. A share issue by the struggling airline more than doubled the French government’s holding to 28.6pc, according to a statement on Monday, followed by China Eastern Airlines which increased its stake from 8.8pc to 9.6pc to become the second biggest shareholder. – Telegraph

A stimulus programme focused on green and digital infrastructure, research and development, energy and care work could create more than 1.2m jobs within two years and more than 2.7m jobs during the next decade, according to research. Such a strategy alongside additional government investment could mean every job lost to the coronavirus pandemic would be replaced during vital upcoming recovery years, a report by Green New Deal UK non-profit group has found. – Guardian

Households are a step closer to paying for goods and services with digital pounds and pence after the Treasury and the Bank of England announced a task force to weigh up the idea. A central bank digital currency, or CBDC – dubbed Britcoin by Rishi Sunak – would give consumers and businesses a new way of making and receiving payments and would sit with physical cash and bank deposits. While possibly underpinned by the blockchain technology used by cryptocurrencies such as bitcoin and ethereum, the CBDC would be pegged to the pound and therefore much less volatile. – The Times

Jeff Fairburn, the former boss of Persimmon, has teamed up with an American hedge fund to buy one of the UK’s largest residential property developers. Yorkshire-based private property developer Berkeley DeVeer, headed by Mr Fairburn since early 2020, has partnered with funds advised by New York’s Elliott Advisors to take over Avant Homes Group. – Telegraph

Tesco has been fined £7.56m by a judge for selling out of date food at three of its Birmingham stores. The supermarket chain was handed the penalty by a judge at Birmingham magistrates court on Monday and ordered to pay prosecution costs of £95,500, Birmingham city council said. It was also ordered to pay a £170 victim surcharge. – Guardian

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