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[Royal_Phalanx]

Having a civil liberty hating PM is the greatest of my worries right now.

 

[nekkid]

I think everyone was happy with the status quo on ARM. The company provided a stable environment for developing a standard instruction set which is good for all manufacturers. It also helped that ARM didn't compete with their customers so there were no self interest in holding back or restricting the platform. They issued flexible licenses to build on which is why there is good competition in the ARM space from Qualcomm, Samsung, Nvidia and Apple all trying to build the best chips.

There would have been all sorts of regulatory commitments to overcome for any major manufacturer to buy ARM since they would be actively harming the competition if there was a change in how ARM licenses their technology.

I'm not sure many of ARMs licensees will be celebrating this takeover, but there is little they can do about it.

Nice summary, thanks.

 

[HazySaiyan]

Politicians are taking this "post-factual world" thing a bit too seriously to comfort.

Who needs facts when you can just make up your own?

 

[Binabik15]

Gaf adds in this want me to train and work as a psychatrist for the NHS.


It seems Google doesn't know about getting your sovereignity back and us evil German (soon to be) doctors taking your jerbs!

 

[Phantast2k]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

/full video:
@StateDept
Secretary @JohnKerry and UK Foreign Secretary @BorisJohnson speak to the press in London

Questions start at around 18m.

 

[PJV3]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

We are still in the getting to know you honeymoon period. I want to see him address the UN and all those funny African places.

Let's humiliate the toad as much as possible before he gets bored.

 

[RedSparrows]

Shouldn't read twitter. Swiftly went down some 'liberarian' fairyland hole about how everything was great now that trade deals were being discussed with Australia. Oh, and that nobody on the Leave campaign ever lied. At all.

 

[Morat]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

That's fantastic

 

[Acorn]

I'm sad about ARM too but it's symptomatic of UK people. You see it in business and even the games industry.

What usually happens is great companies are started and then get sold off to for example MS, Sony, Nintendo, key people leave or sell up to others. We get to a certain point and we are happy to cash in, we seem contempt with our lot we got instead of taking the company to greater heights. We had so many great brands in the car industry all sold off to people abroad. Perhaps in some way it is being more global. For example if football clubs try to keep foreign buyers out then no single country can really take it further, you need to be open to foreign billionaires. English football has dwarfed everything in terms of money deals.

It's an epidemic in this country though. We own fuck all anymore, Thatcher started all that by hawking state owned companies to foreign companies and even foreign STATE (evil for us but good if foreign apparently) companies. Blair didn't help either.

 

[PJV3]

Shouldn't read twitter. Swiftly went down some 'liberarian' fairyland hole about how everything was great now that trade deals were being discussed with Australia. Oh, and that nobody on the Leave campaign ever lied. At all.

When the UK still having a relationship with the US is considered a great Brexit success story, then the bar is set very low.

 

[Zaph]

Fuck me, our Foreign Secretary is getting schooled by an American in etiquette?

The world has gone mad, everything is backwards.

 

[accel]

Why Softbank buying ARM is bad? Just trying to understand the logic.

(Because Softbank got a discount due to pound going down? But ARM stock went up about the same amount the pound went down in the same period?)

 

[Moosichu]

Why Softbank buying ARM is bad? Just trying to understand the logic.

(Because Softbank got a discount due to pound going down? But ARM stock went up about the same amount the pound went down in the same period?)

Arm stock went now where near up enough to offset drop in pound is my understanding.

 

[Rodelero]

Why Softbank buying ARM is bad?

ARM is a big British success. Founded here, operated here, controlled here, and owned here. It may have happened without Brexit, but it's undeniably made it massively cheaper for Softbank to buy because of how weak the pound is.

There are so few really successful truly British companies, and, thus far, it seems Brexit is going to excacerbate that. Ironic, considering how nationalistic the Leave campaign's rhetoric was and is.

 

[accel]

Arm stock went now where near up enough to offset drop in pound is my understanding.

The stock went up 16.6%, the pound/yen went down 14.3%, no?

ARM is a big British success. Founded here, operated here, controlled here, and owned here. It may have happened without Brexit, but it's undeniably made it massively cheaper for Softbank to buy because of how weak the pound is.

There are so few really successful truly British companies, and, thus far, it seems Brexit is going to excacerbate that. Ironic, considering how nationalistic the Leave campaign's rhetoric was and is.

I don't know, if nobody wanted to buy ARM, would it not be the case of "Britain's economy is now so useless, nobody wants to invest into it"?

I honestly don't understand.

Anyway, if it's about Softbank paying less after Brexit than they would before it (which I am not seeing how, but I guess I might be missing something), then that at least makes sense, although I wouldn't characterize it as bad either.

 

[Acorn]

ARM is a big British success. Founded here, operated here, controlled here, and owned here. It may have happened without Brexit, but it's undeniably made it massively cheaper for Softbank to buy because of how weak the pound is.

There are so few really successful truly British companies, and, thus far, it seems Brexit is going to excacerbate that. Ironic, considering how nationalistic the Leave campaign's rhetoric was and is.

Yep.

It's sad, would of happened with Brexit but like you say it didn't help. The direction of travel for successful british companies is into foreign hands 90% of the time.

Cadburys was around for a century, was part of our history and spurred social change like Rowntree. Just like Rowntree it's now owned by conglomerates that give zero shits about british jobs or history. I won't even start on how Cadbury has went to shit since the yank buy out.

 

[SKINNER!]

I won't even start on how Cadbury has went to shit since the yank buy out.

Dat Creme Egg recipe change bruv.

 

[RedSparrows]

Swear Twirls are smaller. Fuckers. Where's my referendum??

 

[nekkid]

Dat Creme Egg recipe change bruv.

Dey took ure glass and a half.

 

[Deleted member 231381]

Yep.

It's sad, would of happened with Brexit but like you say it didn't help. The direction of travel for successful british companies is into foreign hands 90% of the time.

Cadburys was around for a century, was part of our history and spurred social change like Rowntree. Just like Rowntree it's now owned by conglomerates that give zero shits about british jobs or history. I won't even start on how Cadbury has went to shit since the yank buy out.

I will never forgive the Americans for what they did to the Cadbury's recipe. There has been no greater evil.

 

[Pandy]

The stock went up 16.6%, the pound/yen went down 14.3%, no?



I don't know, if nobody wanted to buy ARM, would it not be the case of "Britain's economy is now so useless, nobody wants to invest into it"?

I honestly don't understand.

Anyway, if it's about Softbank paying less after Brexit than they would before it (which I am not seeing how, but I guess I might be missing something), then that at least makes sense, although I wouldn't characterize it as bad either.

I haven't tried running the numbers myself, but here's numble in the ARM aquisition thread: (my highlight)

Even Bloomberg called it a Brexit deal for SoftBank:
http://www.bloomberg.com/gadfly/articles/2016-07-18/softbank-s-post-brexit-arm

SoftBank is paying 24.3 billion pounds, or 3.395 trillion yen.
If they paid 24.3 billion pounds on June 23, it would cost them 3.886 trillion yen. They saved 500 million yen from Brexit.

The yen gained 21 percent against the pound. Even though ARM's stock increased 15% after Brexit, SoftBank still got a better deal due to Brexit.

 

[Rodelero]

^ The 500 million should presumably be 500 billion in numble's quote?

I don't know, if nobody wanted to buy ARM, would it not be the case of "Britain's economy is now so useless, nobody wants to invest into it"?

I honestly don't understand.

Anyway, if it's about Softbank paying less after Brexit than they would before it (which I am not seeing how, but I guess I might be missing something), then that at least makes sense, although I wouldn't characterize it as bad either.

You're acting as if we desperately needed to sell ARM and it would be a problem if nobody had, which is simply not the case. It's good that people -want- to buy ARM, but it's not necessarily good that they've been able to take it over.

 

[accel]

I haven't tried running the numbers myself, but here's numble in the ARM aquisition thread: (my highlight)

I don't see where he gets the numbers from.

The article contains a graph of stock vs pound/yen, there are several days on which the latter outpaces the former (and provides savings if you are buying), but after some point it's the reverse.

I guess I would have to ask numble to elaborate.

Anyway, if it's about those 500 bil yen (there are ways to get them although I'd appreciate details), then I at least understand. I don't think it can be characterized as bad, but I understand where that opinion is coming from.

---
Added: from numble's quote: "SoftBank is paying 24.3 billion pounds, or 3.395 trillion yen. If they paid 24.3 billion pounds on June 23," -- why is it assumed that Softbank would pay the same amount in pounds pre and after Brexit? The stock went up.

You're acting as if we desperately needed to sell ARM and it would be a problem if nobody had

I am not.

 

[Acorn]

I will never forgive the Americans for what they did to the Cadbury's recipe. There has been no greater evil.

Lol yup.

Although the company that bought them saying they wouldn't remove jobs from the uk for 5 years pre buyout then immediately reneging on that by getting rid of the majority of British Jobs is close. Also then the ceo refused to appear before parliament.

Pieces of shit.

 

[kmag]

Odeon/UCI got sold to the AMC for £800m as well according to that Bloomberg article with the buyer mentioning the weaker pound

AMC chief executive and president Adam Aron, said: “This is a once in a generation opportunity to acquire Europe’s leading cinema chain and create the world’s biggest and best theatre operator.

“Odeon & UCI is a great business with iconic brands, strong market presence and passionate teams, and their impressive recent transformation is just the beginning. By introducing AMC’s operational expertise, scale and innovative guest initiatives across Odeon & UCI’s prime theatre locations and digital channels, we expect to drive attendance in these international markets and leverage the growing international demand for movie-going.”

Aron concluded that the Brexit provided a suitable climate for the buyout: “While we acknowledge that there are some uncertainties related to Brexit, we are encouraged that current currency rates are highly favorable to AMC with the pound falling to a three-decade low versus the dollar. In total, we believe this transaction will generate long-term value for our guests, our studio partners and our shareholders.”

Roll up to the UK firesale.

 

[Acorn]

Odeon/UCI got sold to the AMC for £800m as well according to that Bloomberg article with the buyer mentioning the weaker pound



Roll up to the UK firesale.

God dammit. So fucking disheartening to see.

 

[kmag]

Lol yup.

Although the company that bought them saying they wouldn't remove jobs from the uk for 5 years pre buyout then immediately reneging on that by getting rid of the majority of British Jobs is close. Also then the ceo refused to appear before parliament.

Pieces of shit.

Yeah, it's easy for the likes of Softbank to say double ARM's UK workforce (I actually doubt there's enough talented designers to do that) but ultimately they'll recruit where it's cheaper. The design offices in the areas ARM needs to improve are mostly abroad at the minute (the GPU functions are designed in Norway, I/O and Mem in India and France)

 

[le-seb]

Fuck me, our Foreign Secretary is getting schooled by an American in etiquette?

The world has gone mad, everything is backwards.

Not sure the world has gone mad, but in the view of many, the UK did.

 

[Acorn]

Yeah, it's easy for the likes of Softbank to say double ARM's UK workforce (I actually doubt there's enough talented designers to do that) but ultimately they'll recruit where it's cheaper. The design offices in the areas ARM needs to improve are mostly abroad at the minute (the GPU functions are designed in Norway, I/O and Mem in India and France)

Yep and without any sort of attachment to the UK it just makes it easier to offshore everything eventually. I wouldn't be surprised if their presence in the UK amounted to a Liechtenstein style post box for low corp tax rates.

Everything else will be India or China sooner or later where they can pay people peanuts.

 

[The Friendly Monster]

Yep and without any sort of attachment to the UK it just makes it easier to offshore everything eventually. I wouldn't be surprised if their presence in the UK amounted to a Liechtenstein style post box for low corp tax rates.

Everything else will be India or China sooner or later where they can pay people peanuts.

Seems unlikely to me, the employees at ARM are incredibly highly skilled. It's not work that can be easily outsourced.

 

[Chittagong]

Yeah, it's easy for the likes of Softbank to say double ARM's UK workforce (I actually doubt there's enough talented designers to do that) but ultimately they'll recruit where it's cheaper. The design offices in the areas ARM needs to improve are mostly abroad at the minute (the GPU functions are designed in Norway, I/O and Mem in India and France)

Softbank did not mess up Supercell, they let them do what they do best and then sold them higher.

All the strategic future talk is just for good form, they really are more of a private equity player who buys companies based on conviction and then sells them more expensive once their hypothesis about the company has proven right.

 

[Theonik]

I would argue that ARM losing independence is bad for everyone. Their neutrality has helped competition in the mobile segment tremendously. External influence might affect the market immensely.

 

[jelly]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

/full video:
@StateDept
Secretary @JohnKerry and UK Foreign Secretary @BorisJohnson speak to the press in London

Questions start at around 18m.

God, that's embarrassing. We are embarrassing.

 

[Kathian]

Look at all the money we are making from these sales. And you want me to think Brexit is a bad thing!

We can buy another Scotland at this rate.

 

[kmag]

Softbank did not mess up Supercell, they let them do what they do best and then sold them higher.

All the strategic future talk is just for good form, they really are more of a private equity player who buys companies based on conviction and then sells them more expensive once their hypothesis about the company has proven right.

I get that I just don't see a domestic pool capable of providing 1500 chip designers especially when the product is mature and complex

 

[8bit]

Not sure the world has gone mad, but in the view of many, the UK did.

Was in Eastern Europe last week, the country is a laughing stock. At least with a Scottish accent the damage is less but the UK was being openly mocked by Slovenians & Romanians I was speaking with. There's a clown on the world stage.

 

[Hasney]

Look at all the money we are making from these sales. And you want me to think Brexit is a bad thing!

We can buy another Scotland at this rate.

Buy Iceland. Then they can't beat us again.

Spoiler

And Kerry Katonia will be under the states control

 

[Linkified]

Odeon/UCI got sold to the AMC for £800m as well according to that Bloomberg article with the buyer mentioning the weaker pound



Roll up to the UK firesale.

To be fair Odeon/UCI could of decided not to sell.

 

[Halph n Halph]

I will never forgive the Americans for what they did to the Cadbury's recipe. There has been no greater evil.

Some things justify riots.

 

[Lucreto]

Doesn't help that cocoa beans are getting more expensive. Growers have moved to rubber which is more profitable and China's increased demand on cocoa beans.

Once they keep the actual bars dairy milk I can tolerate it, but I will miss the creme eggs.

When did they reintroduce the big bars? Its not quite 1kg but 850g is a good start.

 

[Onlinehero]

/full video:
@StateDept
Secretary @JohnKerry and UK Foreign Secretary @BorisJohnson speak to the press in London

25:40

HOW is this ape-man standing there, just... how? Like what the fuck. It's surreal.

 

[Psychotext]

Doesn't help that cocoa beans are getting more expensive. Growers have moved to rubber which is more profitable and China's increased demand on cocoa beans.

Once they keep the actual bars dairy milk I can tolerate it, but I will miss the creme eggs.

When did they reintroduce the big bars? Its not quite 1kg but 850g is a good start.

I bought a 5kg bar when I was in uni.

Funnily enough though, I've not touched Cadbury since the buyout.

 

[Calabi]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

/full video:
@StateDept
Secretary @JohnKerry and UK Foreign Secretary @BorisJohnson speak to the press in London

Questions start at around 18m.

May knows exactly what she is doing.

 

[Tyaren]

May knows exactly what she is doing.

And that would be? I'm really not seeing it. I think they're all nuts.

 

[Calabi]

And that would be? I'm really not seeing it. I think they're all nuts.

Well I'm hoping she does. It seems like she's putting the Brexit boys front and centre to face all the shit.

 

[Hazzuh]

"David Davis has met TUC general secretary Frances O'Grady and pledged that Brexit would not erode workers' rights."

"Davis told me: "I want to meet the Leavers' objectives and the Remainers' concerns.""

I can see why he wanted to leave the EU given literally everyone will be better off in every way now that we've left lol.

 

[Funky Papa]

@richjamesuk


John Kerry's face when a US journalist accuses Boris of making "outright lies" is quite something.

Diplobantz (video)

/full video:
@StateDept
Secretary @JohnKerry and UK Foreign Secretary @BorisJohnson speak to the press in London

Questions start at around 18m.

I know the Boris persona is largely manufactured, but he legitimately comes out like a poorly educated child there.

 

[killer_clank]

"David Davis has met TUC general secretary Frances O'Grady and pledged that Brexit would not erode workers' rights."

"Davis told me: "I want to meet the Leavers' objectives and the Remainers' concerns.""

I can see why he wanted to leave the EU given literally everyone will be better off in every way now that we've left lol.

David Davis is so utterly full of shit. The very things the brexiters want are the very things that worry the remainers (loss of the single market, university and farming funding, loss of rights of work and travel in EU). It's going to be next to impossible to reassure remainers, especially if this absolute idiot is in the role. All of May's lines about wanting to reassure people and bring people together and made absolute naught by the appointment of this guy.

 

[inoperativ]

I know the Boris persona is largely manufactured, but he legitimately comes out like a poorly educated child there.

He refers to the "situation in Egypt" several times by which I assume he means Turkey, it's so fucking embarrassing.

 

[Paulie_C]

Meanwhile in Ireland..

https://m.facebook.com/story.php?story_fbid=509072852631004&substory_index=0&id=167750270096599