Of the biggest sale of shares in years. A proper us welcome for the crown jewel of uk technology. Arm holdings was born and raised in cambridge, england. Now you may not have heard of arm holdings, but i almost guarantee you own something with Arm Technology inside it. Arm design chips are in 99 of all the smartphones in the world. In fact, 70 of the global population are estimated to have something phone, tablet, gaming, console with arm stuff inside it. And 30 billion arm design chips were sold worldwide last year alone to customers that include google, apple, amazon, microsoft and others, some of whom took a stake in the company today. The boss told me he wanted to be listed with those other global Tech Heavyweights in new york. When we look at all of the opportunities in terms of listing, when we just looked at the size of listing that we had and the Tech Companies that we are peer groups with, we thought new york would be the best location. Does it mean decisions about the future are now made in the us . Im based in the in the us. 0ur cfos in the us, our vp of Investor Relations is based in the uk. Arms is a Global Company. We are headquartered in cambridge. All of our engineers predominantly are in cambridge and across europe. So we will continue to be a Global Company and navigate that way. Shares in arm were sold on the London Stock Exchange before it was bought by a Japanese Investment fund, softbank in 2016, and many feel that other countries would not have lost control of such a national treasure. This is uks google. I think if we were in the us and china, this situation would have never have happened. Arm would have not been allowed to have been sold to a foreign entity like softbank. Those governments both hold those assets, the semiconductor assets, the companies as National Assets and would never allow a foreign entity to do something similar. Advanced chips are at the front line of an International Technology war. An arm gets 25 of its revenues from china, which the Company Admits creates future uncertainty. The uk government and the Prime Minister personally lobbied hard to bring arms listing back to the uk and the company said it was open to a future secondary listing here. But arms top brass and the party was in new york tonight. Simon jack, bbc news. Lets go now to china where the well get the latest data on the struggling property sector later this morning. The Property Market is a key driver of the economy, but it has been very sluggish, due to Unfinished Projects and developers loaded with debt. Eveline danubrata with the debt data Publication Redd explains what steps need to be taken. To try and restore confidence to home buyers and contractors to boost chinas economy. Shes with red, which is a publication specialising in distressed debt data. May be villages to enter the state on developers because they see them as the stronger companies. So whatever weve been seeing so far, the missed one coupon payments, the last minute payments of these coupons are just symptoms of that. And unless this is fixed, im afraid the Stimulus Measures Willjust be a band aid. Evelyn, what are the recovery prospects from the assets and the property available overseas . If we look at country, it has been in the news for a number of reasons. It has considerable overseas assets and this has become the target for creditors. 0ffshore bondholders are worried that the company will prioritise onshore creditors over the offshore bondholders. So thats why they have been exploring their options. Theyre looking at what kind of assets can we pursue . Is there any recovery that we can chase here . If we look at Country Garden, they have some projects in malaysia, in uk, us, australia and new zealand. And i think one of the projects that has been seizing the headlines is for citi in malaysia and there have been multiple Media Reports that its it was described as a ghost town. So one thing to note is that a lot of the projected values, the project value, this is based on expected sales or revenue. So ultimately, this still depends on whether Country Garden can complete construction. And this goes back to my point, which is access to capital is key for them to complete the project construction. In a few hours from now, we will find out if one of the largest industrial labour actions in recent years will go ahead. The United Auto Workers union, which represents employees making vehicles for brands such as ford, gm and chrysler, is planning a series of strikes over pay, working hours and the transition to making electric vehicles. The bbc� s Michelle Fleury sent this report from detroit. The start of the trades annual auto show. A chance for the big three car makers to showcase their latest models. Casting a shadow over the chair, the prospect of the industrys they could strike in generations. What do workers think . This is what i do what do workers think . This is what i do every what do workers think . This is what i do every morning. What do workers think . This is what i do every morning. Get l what do workers think . This is | what i do every morning. Get up to the what i do every morning. Get up to the chickens. To the chickens. This man works in a still lantus to the chickens. This man works in a Still Lantus Factory in a Still Lantus Factory making Jeep Grand Cherokee stop that i a fourth generation uaw. You know, my great grandfather, my grandfather mi; you know, my great grandfather, my grandfathe my grandfather my dad. Thats something my grandfather my dad. Thats something i my grandfather my dad. Thats something i wanted my grandfather my dad. Thats something i wanted to my grandfather my dad. Thats something i wanted to be my grandfather my dad. Thats something i wanted to be able | something i wanted to be able to provide to my family. It was an awesome living for my parents an awesome living for my parents growing up. An awesome living for my parents growing up. And are those opportunities parents growing up. And are those opportunities there i those opportunities there today . Those opportunities there toda . , those opportunities there toda . , � today . Not necessarily. Im nervous today . Not necessarily. Im nervous about today . Not necessarily. Im nervous about it. Today . Not necessarily. Im nervous about it. His nervous about it. His grandfather nervous about it. His grandfather and nervous about it. H 3 grandfather and fathers way of living now out of reach. I cant afford to purchase the vehicle cant afford to purchase the vehicle that i sit there and produce vehicle that i sit there and produce every day. I cant even afford produce every day. I cant even afford to produce every day. I cant even afford to buy that. Afford to buy that. How does that make afford to buy that. How does that make you afford to buy that. How does that make you feel . Afford to buy that. How does that make you feel . Its that make you feel . Its frustrating. That make you feel . Its frustrating. Its frustrating. Its disappointing. Frustrating. Its disauointina. ~. , disappointing. Also oining the firht, gm disappointing. Also oining the fight, gm worker disappointing. Also joining the fight, gm workerjesse disappointing. Also joining the fight, gm workerjesse kelly. | fight, gm workerjesse kelly. Im a single mum, i have a son, we mahe im a single mum, i have a son, we make that money, but when you pay we make that money, but when you pay 1300 a month for heaith you pay 1300 a month for health care, it doesnt mean much health care, it doesnt mean much and health care, it doesnt mean much and it doesnt stretch far~ much and it doesnt stretch far. Groceries that used to be 200 far. Groceries that used to be 200 a far. Groceries that used to be 200 a week i suddenly 300 a week 200 a week i suddenly 300 a week. You know, it all gets eaten week. You know, it all gets eaten up week. You know, it all gets eaten up very, very fast. I dont eaten up very, very fast. I dont take eaten up very, very fast. I dont take vacations. I use on my Vacation Days for emergencies. In the auto industry, we have a Summer Shutdown industry, we have a Summer Shutdown. Contractually, we have shutdown. Contractually, we have to shutdown. Contractually, we have to use some of our vacation have to use some of our Vacation Time during the Summer Shutdown Vacation Time during the Summer Shutdown. We only get, for me particularly, i only get two weeks particularly, i only get two weeks of Vacation Time for the whole weeks of Vacation Time for the whole year. And thats four days whole year. And thats four days out whole year. And thats four days out of that two weeks immediately, which means im on the left immediately, which means im on the left with six other days. If the left with six other days. If my the left with six other days. If my son the left with six other days. If my son is sick or has the flu, if my son is sick or has the flu, that if my son is sick or has the flu, that is if my son is sick or has the flu, that is three days right there flu, that is three days right there. ,. ,. , there. This fight that we are auoin there. This fight that we are going through there. This fight that we are going through is there. This fight that we are going through is not there. This fight that we are going through is notjust there. This fight that we are going through is notjust forj going through is notjust for autoworkers, despite is the middle classes fight. This is notjust middle classes fight. This is not just for middle classes fight. This is notjust for us, this is for everybody. Not just for us, this is for everybody not just for us, this is for everybody. Not just for us, this is for eve bod. ,. ,. , everybody. Paul is heading to what might everybody. Paul is heading to what might be everybody. Paul is heading to what might be one everybody. Paul is heading to what might be one of everybody. Paul is heading to what might be one of his everybody. Paul is heading to what might be one of his last| what might be one of his last shifts in a while. At the History Making Strike because ahead, the uaw plans to limit walk outs to key factories, at general motors, ford and still lantus. Art wheaton from Cornell University focuses his research on Labour Unions and industrial action. He says the union in this case holds the upper hand. Neither side gets everything they want. Somebody has to get in somewhere. A lot of the advantages are to the uaw. But they are really asking for a lot at the Bargaining Table and theres no way that that three auto makers will give into all of their demands. Most likely they will get significant pay increases, but im pretty much sure that they are going to have a strike first at at least one or two of the auto makers tonight starting at midnight. We will be tracking that stray very closely here on the bbc. In other stories making headlines. In other news making headlines eurozone Interest Rates have been hiked to a record high by the European Central bank. The bank raised its key rate for the 10th time in a row, to 4 from 3. 75 , as it warned inflation was expected to remain too high for too long. The latest increase came after forecasts predicted inflation, which is the rate prices rise at, would be 5. 6 on average in 2023. And thats it for this edition of Asia Business report. Thanks for watching. Find more on our bbc news website. Bbc news bringing you different stories from across the uk. Stunning natural beauty, but it comes at a cost. The popularity of areas like this peninsula for second homes and holiday lets is one of the reasons people often cant afford to buy in their own communities. Gwynedd council wants fewer second homes and to force people to have Planning Permission to own one in future. But it admits that might lower house prices, which could hit current homeowners. Its a feeling of, well, you know, why are the council doing this to my property . And its very easy to take it personally. Changes to Planning Laws mean councils have more control over property use. Second home owners here already pay much more council tax and now gwynedd wants to use a so called Article Four Direction to bring in new rules. It says theres a huge housing crisis and will use whatever tools it can to let people live in their own communities. They desperately need to do something because there are whole villages where its just empty. Weve been coming on holiday to this area for years and weve been going to the same cottage. But now the Council Tax Thing has tipped her over the edge, the owner, and shes no longer going to let it out to holiday makers any more, so shes put it up for sale. If the council decides to press ahead with the controversial move, it will come into force a year from now. For more stories from across the uk, head to the bbc news website. Hi im ellis, with the catch up tonight world cup shirts for sale, anti depressant helpline closing, and a 102 year old abseiler englands only nhs helpline for coming off antidepressants is to close after the Health Service withdrew funding. The Bristol Tranquilliser Project which, despite its name, takes calls from people around the country is to shut. The closure means theres no nationwide service to help people. The nhs says local services should be offered. Some other stories now. There are fears that 20,000 people have died in libya in the catastrophic flooding that struck the city of derna. A leading Weather Watcher has said many deaths could have been avoided, if the Weather Service in libya had been working properly. Many libyans have blamed political failures in a woman arrested at the Sarah Everard vigil in 2021 says she still feels traumatised and has nightmares over how police dealt with her. Patsy stevenson says the last few years had been really overwhelming. The met police has paid damages to her and another woman after they sued the force over their treatment. And football shirts collected by a Mystery Ex England Player during the 1990 world cup are going on sale. The eight shirts were collected during englands seven games in the tournament, which saw the team defeated in the semi finals by west germany. Time now to leave you with 10 seconds of abseiling. 102 year old colin bell, an raf veteran, has abseiled 280 feet down the royal london hospital, from the helipad to the pavement below. Youre all caught up bye for now. Have a good night hello, im mark edwards. Welcome to sportsday. Heres whats coming up on our show. Sensational century from sciver brunt helps england seal a series win against sri lanka. Sancho sent away. The Manchester United winger wont train with the first team until his issues with ten hagg are resolved. And youll find out why Francis Tiafoe was somewhat unhappy about the decision in his davis cup tie versus the netherlands. And thanks forjoining us on sportsday. We start with cricket and a scintillating century from that sciver brunt has seen her write her name into the History Books with englands fastest ever 0di hundred. Its the perfect platform to help her side thrash sri lanka at leicestershires grace road in the East Midlands of england to take the series 20. The match reduced to 31 overs per side due to rain, but that didnt stop the stand in Skipper Sciver Brunt gaining 100th 0di cap and in perfect synergy hitting a sensational century in just 66 balls. She was eventually caught for 120 as the home side made 273 england just as good with the ball. Charlie dean took her first five wicket haul in international cricket, including three in one over as the visitors were all out forjust 112. Pretty happy with that. I thought it could have gone a bit faster, to be fair. But yeah, i was hitting some hints, some nice shots
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