The US central bank was expected to remain in focus, even as investors digested an unexpected and far stronger than anticipated reading on the US jobs market at the end of the previous week.
The Financial Conduct Authority has offered to relax rules around so-called "related party transactions" in order to entice microchip designer Arm to float in London. Arm worries that otherwise it may have to report dealings with owner Softbank and any of the Japanese outfit's hundreds of investments as well as having to consult with shareholders each time. Such transaction nevertheless played an important role in failed US companies Enron and Tyco. Critics say the move would dilute the UK's highly regarded standards of corporate governance.
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