UK watchdog signals go-ahead to radical overhaul of company listings

Britain's financial watchdog signalled on Monday that its plans to merge the London Stock Exchange's two categories of company listings and dilute some shareholder rights were poised to go ahead in a bid to make the City more globally competitive. Government and regulators have come under pressure from the financial sector to boost London's attraction after Brexit saw Amsterdam overtake London to become Europe's biggest share trading centre, and the European Union become a new rival in international listings. The City also continues to face stiff competition in company listings from New York, where UK chip designer Arm chose to go public.