TSMC has raised its spending and revenue projections for the year, reflecting its confidence that growth in demand for chips and data centers will extend into 2027 and beyond.

The US has launched more airstrikes on Iran after President Donald Trump pledged to intensify the bombardment until Tehran stops attacking ships in the Strait of Hormuz and agrees to open the waterway.

The pound hit its strongest level in a year on speculation incoming Prime Minister Andy Burnham will name a markets-friendly Chancellor of the Exchequer.

Today’s guests: Claudia Panseri, UBS Wealth Management France CIO; Sanam Vakil, Chatham House Middle East and North Africa Programme Director

—
“The Pulse With Francine Lacqua” is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.

Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:00:25 – TSMC hikes sales, spending outlook
00:03:21 – Claudia Panseri, UBS Wealth Management France CIO
00:16:45 – Sanam Vakil, Chatham House Middle East and North Africa Programme Director
00:23:40 – Thursday headlines
00:24:11 – Burnham to name Shabana Mahmood as Chancellor: Report
00:27:17 – EXCLUSIVE: Sarah Breeden, Bank of England Deputy Governor for Financial Stability
00:34:40 – Baidu to pursue dual-primary listing on HKEX main board, Nasdaq
00:35:10 – Fed’s Warsh cools talk that AI boom is spurring inflation
00:38:07 – Goldman leads banks swagger in $100 billion half
00:40:54 – Dimon warns of board Mythos access
00:41:40 – IEA sees $6.5 trillion at risk if China imposes rare-earth curbs
00:45:27 – Protests flare Kyiv over ouster of popular defense minister
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The US launched more airstrikes on Iran after President Donald Trump pledged to intensify the bombardment until Tehran stops attacking ships in the Strait of Hormuz and agrees to open the waterway.

Anthropic PBC is seeking to meet with investors ahead of its potential mega-IPO, according to people familiar with the matter, as the company prepares to join the rush of artificial intelligence-driven stock market debuts.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Tom Mackenzie and Oliver Crook.

Chapters:
00:00:00 – The Opening Trade
00:01:07 – TSMC To Add $100B of US Investment
00:06:10 – Andy Burnham’s Chancellor Speculation
00:09:56 – Netflix Earnings
00:11:22 – TSMC Capex
00:14:35 – TSMC 2Q Revenue Growth
00:28:25 – Sodexo CEO Thierry Delaporte
00:33:45 – Markets Nervous on Hormuz Uncertainty: IEA
00:34:18 – Brent Crude, Oil Prices
00:40:52 – Rotation Trade Has More to Play Out: MLIV
00:47:49 – Stocks to Watch: Tech, ABB, Publicis
00:52:54 – Publicis Stock
01:01:32 – South Korea’s Kospi
01:09:00 – Shabana Mahmood Set to be UK Chancellor
01:10:39 – UK Economy Unexpectedly Grows in May
01:14:53 – Ukraine Strikes Russian Tankers
01:18:25 – UFORCE CEO Oleg Rogynskyy
01:29:41 – Goldman Sachs Leads Bank Earnings
01:35:38 – Strait of Hormuz Worries Persist
——–
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Ukrainian President Volodymyr Zelenskyy said he planned to replace Prime Minister Yuliia Svyrydenko as part of a broader change in “political strategy.” Zelenskyy is expected in Paris on Monday for a meeting of the so-called coalition of the willing, where Ukraine’s allies are likely to discuss more aid for Kyiv including for air defense. Bloomberg’s Oliver Crook reports.
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Gil Luria, D.A. Davidson technology and research head, says the fundamentals are still looking good for semiconductor and AI-related stocks. He speaks on “Bloomberg The Close.”
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Bloomberg Daybreak Europe is your essential morning viewing to stay ahead. Live from London, we set the agenda for your day, catching you up with overnight markets news from the US and Asia. And we’ll tell you what matters for investors in Europe, giving you insight before trading begins.

On today’s show, TSMC posted quarterly profit that beat estimates by a significant margin, highlighting robust global demand for AI computing. The main chipmaker for Nvidia and Apple reported second quarter net income of $22 billion, while revenue rose 36%.

The US completed another round of attacks on Iran, that it says were intended to degrade the country’s ability to attack ships in the Strait of Hormuz. President Trump has pledged to intensify bombardment and claims Tehran is seeking more talks after the US strikes degraded its missile and drone capabilities.

And incoming UK Prime Minister Andy Burnham is reportedly set to name Home Secretary Shabana Mahmood as his Chancellor. This according to reports in newspapers including the Financial Times. A spokesperson for Burnham says no final decision has been made.

Today’s guest: Morten Wierod, ABB, CEO.

Chapters:
00:00:00 – Daybreak Europe
00:00:42 – Chip Selloff Extends Into Asia
00:11:10 – US Launches Strikes on Iran Over Hormuz
00:14:47 – US Targets Buyers of Russian Oil & Gas With New Bill
00:17:57 – CIA Says AI Drones Give Russian Troops Only 30 Minutes to Live
00:20:24 – Mahmood Set to Become UK Chancellor
00:22:36 – Dimon Warns of Broad Mythos Access
00:25:46 – TSMC Earnings Beat Lofty Estimates
00:29:11 – Morten Wierod, ABB, CEO
00:37:00 – TSMC Earnings Bet on All Key Merits
00:41:54 – Jamieson Greer Speaks on Pharma Dependence
——–
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