Daily Recap: Business — 15 October 2026

Markets spend the day testing whether the artificial-intelligence boom can keep justifying huge valuations, even as the companies supplying that demand continue to post strong results and expansion plans. Elsewhere, fresh economic data and a major court ruling reshape expectation...

TSMC reports record third-quarter profit and revenue, comfortably beating expectations as demand stays strong for the advanced chips that power artificial-intelligence systems. Net profit jumps by roughly two-thirds from a year earlier, underscoring the company’s central role in the AI supply chain even as its shares fall in a broader selloff of technology and AI-linked stocks.

A renewed selloff in AI stocks rattles Wall Street before trading begins to stabilize, as investors question how long the sector’s explosive rally can continue and whether spending on AI will deliver returns quickly enough. The pullback sends markets through another volatile session and highlights growing sensitivity to valuations across the technology sector.

TSMC says it is exploring more chip-making capacity in Texas, extending its push to build a larger manufacturing footprint in the United States. The company also confirms talks with Elon Musk’s planned Terafab project and says any involvement would require TSMC to retain operational control of manufacturing facilities.

Australia’s unemployment rate rises to its highest level in nearly five years, signaling a weaker labor market after the latest jobs data. The shift changes expectations for monetary policy, with investors increasingly seeing less need for the Reserve Bank of Australia to raise interest rates further if employment conditions continue to soften.

The UK economy grows by 0.1% in August, defying forecasts for a monthly contraction after stronger growth in July. The modest expansion offers some relief ahead of the government’s budget update, suggesting the economy is still growing, though only narrowly, amid persistent pressure on households, business activity and the broader fiscal outlook.

India’s Supreme Court restores the rights of Yes Bank AT1 bondholders by overturning the write-off of ₹8,415 crore in bonds imposed during the bank’s 2020 rescue. The ruling is a significant decision for bank capital instruments and investor protections, reversing a contested wipeout that had become a landmark case for India’s financial system.

Richemont and Signet Jewelers are in talks to join a consortium bidding for De Beers, as Anglo American works to sell the diamond business. Their potential participation would strengthen a leading bidder for one of the industry’s most prominent assets and could reshape ownership across the global luxury jewelry and diamond markets.