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Nestlé to Slash 16K Jobs, TSMC Boosts Confidence in AI ‘Megatrend’ | The Opening Trade 10/16
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October 16, 2025
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1:35:37Now PlayingNestlé shares surged after the foodmaker posted a stronger-than-expected increase in quarterly sales and announced plans to slash 16,000 jobs, just weeks after replacing its chief executive officer. The stock climbed as much as 8.2% in early Swiss trading, the biggest gain since 2008.
TSMC hiked its projection for 2025 revenue growth for the second time this year, reinforcing hopes in the longevity of a global boom in AI spending. TSMC, the go-to chipmaker for Apple and Nvidia , now foresees mid-30% growth in annual sales, up about a few percentage points from previously. On Thursday, TSMC Chief Executive Officer C.C. Wei reiterated “Conviction in the AI megatrend is strengthening,” he told analysts after outlining earnings.
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson, Lizzy Burden and Valerie Tytel.
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