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TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom
Source: CNBC
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CNBC2 outlets
UK economy grew 0.1% in August, beating expectations
The U.K. is grappling with a cost-of-living crisis sparked by sticky inflation and surging energy costs.
The Guardian
Tech stock sell-off intensifies as markets fret about AI; UK growth beats forecasts in August – business live
Rolling coverage of the latest economic and financial news Today’s better-than-forecast UK growth report is good news for chancellor John Healey as he hobnobs with other finance ministers at the IMF meeting in Bangkok. But it may encourage the Bank of England to raise interest rates as soon as its next meeting in November…. “While August’s unexpected uptick all but confirms that the OBR will raise its growth forecast for this year from 1.1% to 1.4%, the Chancellor still faces a major Budget headache, as elevated borrowing costs eat into fiscal headroom and increase pressure for tax rises. “These unexpectedly upbeat figures will further embolden hawkish sentiment among policymakers by reinforcing the view that the economy is strong enough to withstand a rate rise, making a November hike look highly likely.” “The latest GDP figures are encouraging, with the economy growing by 0.7% in the t
BBC Business2 outlets
UK economy grew 0.1% in August ahead of Healey's first Budget
The uptick helped the economy grow by 0.7% over the three months to August, official figures show.
CNBC
Inside India newsletter: Billionaire Ambani’s mega-IPO faces a valuation reality check amid Musk spat
Jio Platforms, the company at the center of Musk’s remarks, is launching an IPO later this month.
CNBC
India’s IDBI Bank falls 7% as government announces $5.5 billion stake sale to Canada's Fairfax
The Indian government has been divesting its stake in several state-owned companies this year as it tries to keep its growth engine running amid deepening fiscal pressures.
CNBC
From 'Dune' to 'Wicker,' how this ‘tiny’ European country became a hub for Hollywood
Hungary, a small country in central Europe, has played a major part in the movie business since the late 19th century.