TSMC crushes guidance with 80 per cent jump in Q2 net profit

Taiwanese chip giant TSMC smashes another record with an 80 per cent surge in Q2 net profits on the building wave of demand for its AI processors. Further exchanges of fire between the U.S. and Iran in the Persian Gulf could reportedly prompt President Trump to expand operations in the region. Trump remains confident the conflict can be concluded in the near future. Sterling hits a yearly high despite reports incoming prime minister Andy Burnham is set to make Shabana Mahmood Chancellor of the Exchequer as Sir Keir Starmer attends his final PMQs. UK GDP for May ekes out growth of 1.3 per cent year-on-year. However, May manufacturing is down by 1.8 per cent year-on-year.

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