Writing the summary…
TSMC’s September sales surge year-over-year as AI drives chip demand
Source: CNBC
Original reporting
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CNBC
The Indian billionaire investing in Trump's refinery project is also buying more Venezuelan crude
Outside the U.S., India is the biggest destination for Venezuelan oil, with Reliance Industries purchasing the bulk of it.
The Guardian
Oil prices climb amid supply fears and shipping attacks; prospect of rate rise weighs on UK housing market – business live
Brent crude heads towards $104 a barrel while stock markets fall Deloitte has been fined £6.05m in the UK over its audit of the bus and rail operator Go-Ahead Group between 2016 and 2020. The Financial Reporting Council (FRC), the UK’s accounting watchdog, said it reduced the penalty from £11m because of Deloitte’s “exceptional cooperation” and admissions. Deloitte has also paid the costs of the executive counsel’s investigation. Deloitte, as auditor, failed to enquire sufficiently into the actions of LSER and LM, failed to apply sufficient professional scepticism, and failed to evaluate the evidence indicating the existence of fraud risk factors. Deloitte failed to appreciate that the company was under a contractual obligation to act in good faith and therefore in relation to LSER to bring the overpayments to the DfT’s attention. Continue reading...
BBC Business
We spent thousands on a Tui river cruise but ended up on coach trips
Passengers have described their anger after their itineraries changed to involve hours spent on coach trips instead.
CNBC
AI startup Manus raises $500 million in first funding round since Meta breakup
The deal is handing the AI agent developer fresh capital after Beijing forced Meta to unwind its roughly $2 billion acquisition.
The Guardian
Tesco lifts profit forecast and says consumer confidence is resilient
Sales rise 2% to £33.8bn in the past six months, helped by strong trade online Business live – latest updates Tesco has raised its annual profit forecast as the supermarket group said consumer confidence has remained relatively resilient this year despite ongoing geopolitical tensions “creating uncertainty”. The UK’s biggest grocer said sales rose just 2% to £33.8bn in the first six months of its financial year but underlying profit was up 6.5% to £1.8bn. Continue reading...
CNBC
America shut out Chinese EVs. Britain welcomed them — and now faces a difficult choice
Britain faces a finely balanced choice over whether to follow the EU in imposing tariffs on Chinese EVs.