Financial Times – Arm shares leap 20% in biggest US IPO for 2 years

Shares in chip designer Arm increased by 20% as it began trading on the Nasdaq exchange on Thursday, the Financial Times’ reports. It is the largest initial public offering on the US stock market in two years.

In other news, the front page reports that Housing Secretary Michael Gove’s plans to end “no-fault” evictions in England have been “put back on ice” due to infighting in the Conservative Party. 

A Whitehall official quoted in the paper says: “There are a number of landlords in the whips office who are amplifying the level of concern among Tory MPs and holding things up.” The whips, who advise ministers on how Tory MPs will react to new legislation, strongly denied that they were letting their personal financial interests affect their judgement.