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TSMC Earnings Beat Lofty Estimates | Daybreak Europe 7/16/2026

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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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Target Bets on Trendy Snacks and Drinks in Grocery Revamp

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Target has long struggled with its grocery identity: whether it wants to be a discounts-driven everyday chain or a cool zeitgeisty retailer. Its latest big bet indicates it’s chosen the latter.
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Goldman’s Bordlemay Sees `Ping-Pong’ Pattern for Stocks

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Katherine Bordlemay, co-head of client portfolio management at Goldman Sachs Asset Management, expects to see a “ping-pong of volatility” continue in US stocks even as major indexes grind higher. She says stronger earnings have cushioned equities from rising US Treasury yields. She speaks with Dani Burger and Isabelle Lee on Bloomberg’s “Open Interest.”
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Dangote Aims to Raise $1.6 Bln in Nigeria’s Biggest IPO

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Billionaire Aliko Dangote is seeking to raise $1.6 billion in what would be Nigeria’s biggest initial public offering. Dangote Petroleum Refinery and Petrochemicals FZE is offering 4.1 billion shares at 525 naira ($0.40) each, a company spokesman said Friday. The IPO will open on Sept. 14. Bloomberg’s Anthony Osae-Brown reports.
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Why Data Center Pushback Is a Unique Form of NIMBYism

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Unlike solar farms or housing projects, data centers face a unique challenge: people don’t just oppose them in their own backyards—they question if we need them at all. On Odd Lots, Jasmine Sun tells Joe Weisenthal and Tracy Alloway why the AI industry and policymakers have failed to make a compelling case for the AI buildout, leading to widespread anxiety over resource usage.
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Norway Twists The Knife on Treasuries: 3-Minutes MLIV

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Guy Johnson, Tom Mackenzie and Paul Dobson break down today’s key themes for analysts and investors on “Bloomberg: The Opening Trade.”

Chapters:
00:00:00 – MLIV
00:00:08 – US Payrolls
00:01:02 – Yen Gained on BOJ Hike
00:02:07 – Norway Trims Government Bond Market
00:02:51 – Fed Outlook
——–
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