UKTech News & Analysis
2 articles
Market Mood
ARM Holdings (ARM): 2023 NYSE Valuation Hits £285B ($380B)
UK microchip company ARM Holdings (ARM), purchased by Softbank in 2016 for £24 billion ($32 billion), is now valued at £285 billion ($380 billion) following its 2023 listing on the New York Stock Exchange. Business Secretary Peter Kyle stated that ARM could have become the largest firm on the London Stock Exchange if it remained in the UK. He also emphasized government efforts to support British technology companies amid competition from US tech giants. Investments in various tech firms indicate a shift toward enhancing the UK's tech sector and addressing challenges in other industries.
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UK Chancellor Reeves Aims to Keep Tech Sector While Strengthening EU Relations
Chancellor of the Exchequer, Rachel Reeves, expressed a commitment to prevent the UK technology sector from relocating abroad during a recent BBC interview. This initiative is significant as the UK tech industry has faced challenges in maintaining competitiveness against global counterparts. Reeves emphasized the need for closer ties with the European Union, suggesting potential collaborative opportunities that could bolster market confidence. The outcome of these efforts may influence investor sentiment and the overall health of the UK tech market.
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