TSMC profits surge amid relentless AI demand
World’s leading contract chipmaker beats estimates in third quarter
UK economy grew 0.1 per cent in August
Figure comes as chancellor John Healey prepares for a tough Budget this month
FTAV’s further reading
RIP Mehrling; rare earths; American electricity; Character.ai; bonds vs equities; dark matter
CPI comes in hot, AI goes cold
Plus: the EM index is just an AI bet now
Macro analysts: in aggregate, not useless
One must consider sellsiders happy
Soaring energy prices set to swamp EU summit and overshadow budget talks
Also in this newsletter: Europeans are embracing some parts of AI faster than expected
FirstFT: Ukraine to resume strikes on Russian refineries, Zelenskyy says
Also in today’s newsletter: Anthropic revenues and English football
US inflation again set to be a crucial factor for the midterms
Donald Trump was re-elected on the back of inflation anger, and his party is now in danger of losing control of the House and Senate for the same reason
Global AI sell-off deepens as Asian markets tumble
Sharp falls trigger trading halt on South Korea’s Kospi and Japan’s Nikkei 225 sinks 5%, following Wall Street lower
Transcript: Zelenskyy doesn’t mince words about Trump
Marc Filippino speaks to Alec Russell, Myles McCormick, Cristina Criddle and Suzi Ring
The UK’s Fastest-Growing Companies
The FT’s inaugural ranking of the UK’s fastest-growing companies shows the diverse businesses powering ahead against a volatile backdrop, in markets from health and wellness to fried chicken and digital ID. Plus: why management is key and finding growth in the ageing population
General Atlantic’s IPO ambitions
The private capital group is planning to go public in the first half of next year as it seeks to keep pace with listed rivals like Blackstone and Apollo Global
Transcript: What’s at stake in the Saudi-Houthi conflict?
Gideon Rachman speaks to Emile Hokayem, director of regional security at the International Institute for Strategic Studies
London’s gold market enjoys the Trump effect
The City’s dominance of physical trading in the metal is being reinforced by global instability
Marsh to shoulder biggest chunk of Greensill settlement with Credit Suisse
Deal is rare example of broker bearing largest share of a settlement rather than insurers who wrote policies
Investors predict new record price for gold within two years
Central banks in September made their highest monthly purchases of the precious metal for almost two years
Minister promises UK private pension proposals by spring
Move likely to set up fight over self-employed contributions, after Burnham government proposed ending the ‘triple lock’ on state pensions
FCA plans to embrace AI to automate financial regulation
UK watchdog will set out its response to the rise of the latest frontier models
Ukraine to resume strikes on Russian refineries, Zelenskyy says
Ukrainian president expresses anger in FT interview at ‘dangerous’ withdrawal of US intelligence sharing and weakening of Starlink satellite internet service
How AI mega-rounds make life harder for VC firms
Fewer-but-bigger deals mean investors are having to put more eggs in a single basket
EU carmakers bet on nostalgia to fight Chinese EVs
Citroën is reviving a postwar-era favourite as manufacturers turn to electric versions of classic cars
Is the K-shaped economy really more of an E?
America remains a very unequal place, but on many metrics inequality is not increasing
Inheritance tax toll is mounting on UK family companies
Changes by Rachel Reeves in 2024 risk cramping expansion and employment plans, driving firms into the hands of private equity
The $32bn tussle over oil industry’s Iran war windfall
Investors are keen to see how world’s largest crude companies plan to deploy extra cash generated by soaring energy prices