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UK manufacturing output rose 0.5% year-on-year in June, below the expected 1.2% and the previous figure revised from 2.30% to 2%.

2026-08-13

UK manufacturing output rose 0.5% year-on-year in June, below the expected 1.2% and the previous figure revised from 2.30% to 2%.

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2026-08-13

Huatai Securities says AI compute expansion will increase optical-module power consumption, shifting aluminum nitride (AlN) — prized for high thermal conductivity, electrical insulation and thermal compatibility — from an optional to a likely require

Huatai Securities says AI compute expansion will increase optical-module power consumption, shifting aluminum nitride (AlN) — prized for high thermal conductivity, electrical insulation and thermal compatibility — from an optional to a likely required material. Huatai estimates optical modules could drive demand for high-end AlN powder to exceed 2,000 tons by 2027. On the supply side, Japanese suppliers are facing raw-material shortages tied to rare-earth controls, and tight downstream demand could create a supply shortfall and upward pressure on prices. Domestic manufacturers are accelerating capacity ramp-up and customer qualification, presenting a potential domestic-replacement opportunity.
2026-08-13

After the U.S. Supreme Court ruled that some tariffs imposed under the International Emergency Economic Powers Act lacked legal authorization, refunds began appearing on corporate financial statements. More than 40 S&P 500 companies have disclosed re

After the U.S. Supreme Court ruled that some tariffs imposed under the International Emergency Economic Powers Act lacked legal authorization, refunds began appearing on corporate financial statements. More than 40 S&P 500 companies have disclosed refunds totaling approximately $9.6 billion, including about $2.2 billion from Apple, $986 million from Nike, and $800 million from FedEx. Apple's earnings per share this quarter were $2.02, with refunds contributing $0.11 and boosting gross margin by about 2 percentage points, indicating that this funding was sufficient to generate significant earnings exceeding expectations. However, refunds are essentially a reversal of past tariff costs, not an increase in demand or improvement in operational efficiency, and cannot be extrapolated to future profits based on current levels. The actual benefits also vary among companies: FedEx is simply paying taxes on behalf of its customers and plans to refund approximately $800 million to shippers and consumers; some retailers may retain the refunds or use them to lower subsequent selling prices. In the short term, refunds benefit the cash flow and profit margins of import-oriented companies, but this one-off item needs to be excluded when assessing true profit trends.
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