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Tech stock sell-off intensifies as markets fret about AI; UK growth beats forecasts in August – business live
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
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Tech stocks plunge as Fed rate hike fears, AI funding worries mount; ASML, SK Hynix slump
A sell-off in global technology hardware stocks deepened Thursday.
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TSMC posts record profit for a sixth straight quarter, beating estimates on AI boom
TSMC reported its third-quarter earnings on Thursday.
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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.
BBC Business2 outlets
UK economy sees surprise growth 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.
The Guardian
Wallace & Gromit maker Aardman falls short of return to profit
Animation studio narrows annual loss to £1.1m amid ‘challenging market’ in children’s content Don’t break out the celebratory Wensleydale just yet. Aardman, the British animation studio behind the cheese-loving inventor Wallace and his beloved dog Gromit, has fallen short of a target to get back in the black, its accounts show. The employee-owned business was aiming to record a small profit in 2025 after two years of consecutive losses but was hit by production delays and a “challenging market” in children’s content. Continue reading...
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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.