Early local election results in the U.K. indicate a backlash against the government, as cost of living pressures have once again dominated political discourse.
Taiwan Semiconductor Manufacturing Co. (TSMC) announced a 67.9% year-on-year increase in June sales, reaching NT$442.68 billion. For the first half of 2026, revenue grew 35.6% to NT$2.4 trillion, boosted by AI chip demand. Shares rose 1% as the company plans new packaging plants in Taiwan.
Switching broadband, pay TV, energy, and bank accounts can save hundreds of pounds. Regulators have simplified the process, with Ofcom fining Virgin Media £28m for hindering contract cancellations. Ofgem has also streamlined energy supplier changes. The Current Account Switch Service automates transfers for banks.
This week's market focus is on the US economy, with major banks like JPMorgan and Bank of America releasing Q2 earnings. The June consumer price index report is also due Tuesday, coinciding with JPMorgan's conference call. Other key reports include the producer price index and earnings from J.B. Hunt and Netflix.
A nearly complete Tyrannosaurus Rex fossil, named Gus, is set for auction at Sotheby's with a valuation of $30 million, sparking debate on whether scientifically important specimens should be reserved for museums or rewarded to discoverers.
Despite market volatility driven by geopolitical tensions and concerns over AI demand sustainability, top Wall Street analysts are recommending Amazon (AMZN), Marvell Technology (MRVL), and Advanced Micro Devices (AMD). Analysts cite strengths in cloud, AI infrastructure, and semiconductor demand for their optimistic outlooks.
A poll shows 69% of Americans want AI firms to transfer 50% of their stock to a public sovereign wealth fund, amid tech layoffs and corporate profit growth. Senator Bernie Sanders has proposed similar legislation.
