'Another kick in the teeth': Why is London's stock market light fading?

Fresh blow for UK's tech haven plans

Softbank-backed British chip designer Arm's decision to pin its hopes on a New York listing marked further trouble for the UK government and the City of London, despite efforts to boost London's competitiveness as a global financial hub.

Arm has opted to pursue a US-only listing over a return to the London Stock Exchange, dashing the UK government's hopes to make Britain a "science and technology superpower". The decision marks a blow to London, where Arm was listed until it was bought by Japanese firm SoftBank in 2016 in a $32bn deal that drew criticism over claims the UK government had allowed the acquisition of Britain's biggest tech success by foreign investors. Softbank's Arm dashes hopes for London listing as it opts for New York Separately, on Thursday (2 March) building materials company CRH signalled its i...