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Monday Business HeadlinesBack


ARM chip designer to be bought by Japan’s Softbank ARM image

UK technology firm ARM Holdings is to be bought by Japan’s Softbank for £24bn ($32bn) it confirmed on Monday.

The board of ARM is expected to recommend shareholders accept the offer – which is around a 43% premium on its closing market value of £16.8bn on Friday.

The Cambridge-based firm designs microchips used in most smartphones, including Apple’s and Samsung’s.

ARM, which was founded in 1990, employs more than 3,000 people.

Shares in the UK technology firm surged by 45% at the open of the London Stock Exchange to 1,742.85p per share, adding £7.56bn to ARM’s market value.


FCA considers using texts to warn of low savings rates

Consumers who get poor rates of interest on their savings accounts could soon receive texts or emails to warn them of better deals available.

The city regulator, the Financial Conduct Authority (FCA), has moved a step closer to the idea as part of its plan to expose poor savings rates.

For the second year running, it said some savers are getting an annual return of as little as 0.01%.


Millennials ‘set to earn less than Generation X’

Millennials are set to become the first generation to earn less than their predecessors, new research suggests.

The Resolution Foundation found that under-35s earned £8,000 less in their twenties than Generation X workers.

The thinktank defines Generation X as those born between 1966 and 1980 and millennials as those born between 1980 and 2000.

If wages for millennials follow the same path as Generation X, average career earnings will be about £825,000.



The Guardian


Jaguar Land Rover to test 100 self-driving cars in UK by 2020 jaguar driverless car

Jaguar Land Rover has said it will create a fleet of more than 100 research vehicles over the next four years to test autonomous and connected technology, with the first hitting the streets later this year.

Britain’s biggest carmaker plans to test the vehicles on a 41-mile (66km) route on motorways and urban roads near its headquarters in Whitley, Coventry.

The autonomous vehicles market is worth £900bn worldwide, according to the government, but legal obstacles, including determining who would be responsible in the event of an accident, are yet to be overcome.

Britain announced plans in March to test cars on motorways and launched a consultation on Monday to change insurance and motoring rules as the government looks to allow members of the public to use driverless cars on the streets by 2020.

Posted by Paul Carpenter on 18/07/2016