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Real-time News
October 15th - EU leaders are seeking ways to mitigate soaring energy prices, but the Iraq War has left them with few policy options. Soaring energy costs have become a central issue in the broader discussion of European competitiveness. EU leaders will discuss this at a two-day summit in Brussels on Thursday. A senior EU official stated that the European Commission, the EUs executive body, is expected to point out to member state leaders that there is no immediate solution to high energy prices. EU member states also face numerous constraints. Implementing price caps and tax cuts would incur heavy fiscal costs amid increasingly strained government budgets, and soaring interest rates further exacerbate this challenge. The EU has few quick and effective countermeasures. The European Commission is considering extending the Joint Energy Procurement Mechanism, postponing the implementation of climate regulations aimed at limiting methane emissions related to fossil fuel imports, and extending state aid measures for severely impacted industries. However, given Europes reliance on oil and gas imports, these measures cannot curb rising energy prices in the short term.October 15th - TSMC, the worlds largest semiconductor foundry, announced on Thursday that its net profit for the third quarter surged 69% year-on-year, driven by a surge in global demand for artificial intelligence (AI) processors. This not only exceeded market expectations but also set a new record. TSMC stated that net profit for the July-September period reached NT$763.1 billion (approximately US$23.59 billion). This profit performance significantly surpassed the institutional expectation of NT$746.3 billion.HSBC: Lowered its target price for Bilibili (BILI.O) from $23.5 to $22.5.Citigroup raised its target price for ASML (ASML.O) from €2,200 to €2,300.On October 15th, Marine Le Pen, the National Rally candidate in the 2027 French presidential election, said on the 14th that given Frances high deficit and economic growth pressures, she believes the country cannot continue to provide aid to Ukraine. This comes after French President Macron spoke with Ukrainian President Zelensky, reiterating Frances "full support" for Ukraine.
