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U.K. chip designer Arm Holdings is scheduled to start trading on the Nasdaq Thursday, in what is the largest initial public offering of shares in nearly two years NEW YORK -- U.K. chip designer Arm Holdings is scheduled to start trading on the Nasdaq Thursday, in what is the largest initial public offering of shares in nearly two years. The shares have been priced at $51, giving Arm a market value of $54.5 billion. The opening trade could be much higher, given the interest among investors in the offering. Most consumers use at least one product that contains Arm's chips, though many people may not be familiar with the company itself. Its chip design is used in virtually all smartphones, the majority of tablets and digital TVs. More recently, Arm has expanded into artificial intelligence, smart devices, cloud computing, the metaverse and autonomous driving. Arm's offering is an important development for the IPO market, which has seen relatively few companies go public the pa...

Royal accounts show that a change in monarchs, double-digit inflation and ongoing costs of renovating Buckingham Palace contributed to a 5% increase in publicly funded spending by Britain’s royals LONDON -- A change in monarchs, double-digit i NFL ation and ongoing costs to renovate Buckingham Palace contributed to a 5% increase in public ly funded spending by Britain's royal s, according to accounts published Thursday. The palace's annual Sovereign Grant report showed that net spending was up 107.5 million pounds ($135 million) in the past year. It also said that King Charles III was behind a “concerted effort” by royal staff to turn down the heating at Buckingham Palace and other royal homes during the winter to cut emissions and costs. Temperatures were set at 19 degrees Celsius (66 degrees Fahrenheit) — and a few degrees lower when rooms were empty, officials said. The report also confirmed that Prince Harry and his wife, Meghan, have vacated their former home of Frogmor...