Thursday newspaper round-up: Satellite launches, Arm, LVMH

(Sharecast News) - Britain's failed attempt to send satellites into orbit was a "disaster" and MPs are being urged to redirect funding to hospitals, with the country now seen as "toxic" for future launches. Senior figures at the Welsh company Space Forge, which lost a satellite when Virgin Orbit's Start Me Up mission failed to reach orbit, said a "seismic change" was needed for the UK to be appealing for space missions. - Guardian London is falling behind other international capitals as "superstar" businesses are strangled by red tape and years of underinvestment, a think-tank has warned. The Centre for Cities also blamed soaring house prices for a dismal rise in living standards that meant London's annual productivity rose by an average of just 0.2pc between 2007 and 2019. - Telegraph

British technology giant Arm will spurn advances from Rishi Sunak to float in London and instead opt for New York, in a blow to the Prime Minister's attempt to convince high-tech companies to go public in Britain. The company, which is owned by the Japanese multinational SoftBank, will list its shares in the US when it floats later this year, according to reports last night. - Telegraph

LVMH has strengthened its footing as the most valuable company in Europe after a €1.5 billion buyback winched up shares in the luxury conglomerate. Shares in the retail group, led by the French billionaire Bernard Arnault, rose by 0.4 per cent to €792.20 yesterday, giving the company a market valuation of €397 billion. - The Times