From $300 Trillion Glitch to $16 Billion Bank Hostile Takeover Failure

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Dear Money Master,

This week, the financial world swung between innovation and instability. Spain’s BBVA suffered a humiliating defeat in its €16.3B hostile takeover of Sabadell, while the ECB signaled the end of its easing cycle, hinting that the era of lowering rates is over.

Across the Atlantic, Trump’s revived tariff policies are reigniting inflation pressures, forcing central banks to navigate a new storm. Switzerland cut its 2026 growth forecast, the Fed’s Beige Book warned of higher consumer prices, and investors are bracing for turbulence.

But it wasn’t all doom and gloom, AI continued to dominate headlines. TSMC shattered records with a 39% profit surge on AI chip demand, Alibaba’s massive AI bets are finally paying off, and Spotify’s new AI-music alliance is changing how the industry creates. Meanwhile, PayPal’s crypto partner Paxos “accidentally” minted $300 trillion in stablecoins, shaking the blockchain world (and meme economy).

On the corporate front, Nestlé is cutting 16,000 jobs in a sweeping efficiency drive, Salesforce is chasing $60B in revenue by 2030, and United Airlines forecasts stronger profits as travel rebounds. Yet HPE’s gloomy outlook shows not everyone’s winning in the new tech cycle.🌍💼

📰 Your Daily Financial Digest - October 17th, 2025

🌍 Economics & Finance:

1. BBVA Fails to Secure 50% Threshold in Sabadell Takeover 💥
   Spain’s BBVA secured only 25.47% of Sabadell’s shares in its €16.3B hostile bid, ending an 18-month battle. Chair Carlos Torres says he won’t resign despite the setback. Read More

2. ECB Officials Signal End of Rate-Cut Cycle 🏦
   Top ECB policymakers hinted that the easing phase is nearly over, citing persistent inflation and stable economic growth. Analysts now expect fewer rate cuts heading into 2026. Read More

3. Trump’s Tariffs Fuel Rising Consumer Prices 💸
   The Fed’s Beige Book revealed that tariffs are pressuring inflation upward as companies face tough choices between raising prices or eating costs. Growth remains muted across districts. Read More

4. Switzerland Slashes GDP Forecast Amid Tariff Fallout 🇨🇭
   Swiss officials cut 2026 GDP projections to 0.9%, citing U.S. trade tariffs as a “heavy burden” on exports and manufacturing. Growth this year remains below average at 1.3%. Read More

💻 Technology:

1. PayPal Partner Paxos Accidentally Mints $300 Trillion in Stablecoins 💥
   A technical glitch saw Paxos mistakenly issue $300 trillion worth of PYUSD on Ethereum before swiftly burning the tokens. Markets were quick to spot and meme the incident. Read More

2. Alibaba’s AI Investments Hit Break-Even in E-Commerce 🧠
   Alibaba says its AI spending on Taobao and Tmall is already profitable, signaling a return on its $53B AI and cloud push. The company plans even more aggressive investments. Read More

3. Amazon’s Ring Expands Law Enforcement Access to Home Cameras 🚔
   Ring owners can now share footage directly with police using Flock Safety’s software, deepening Amazon’s role in public surveillance partnerships. Read More

4. Spotify Partners with Major Labels for “Responsible AI Music” 🎶
   Spotify joined forces with Sony, Universal, and Warner to create ethical AI music tools. The company is also building a new AI research lab for content moderation and creation. Read More

💹Earnings:

1. TSMC Smashes Records with 39% Profit Surge 🚀
   AI chip demand fueled TSMC’s net income jump to NT$452.3B, beating all estimates. Revenue rose 30% year-over-year to NT$989.9B, cementing its lead in global semiconductor manufacturing. Read More

2. Nestlé to Cut 16,000 Jobs in Major Restructuring ✂️
   New CEO Philipp Navratil unveiled plans to eliminate 12,000 white-collar and 4,000 additional roles over two years, aiming to streamline operations and boost efficiency. Read More

3. United Airlines Forecasts Strong Q4 Earnings ✈️
   United expects Q4 earnings between $3 and $3.50 per share, above analyst estimates, as expanded capacity and loyalty revenue offset weaker international fares. Read More

4. Salesforce Targets $60B Revenue by 2030 📈
   Salesforce projects over $60B in annual revenue by 2030, topping forecasts and signaling long-term growth potential even before its $8B Informatica acquisition closes. Read More

5. HPE Shares Slide on Weak 2026 Outlook 📉
   HPE guided for 2026 EPS between $2.20–$2.40, below expectations, and revenue growth of just 5–10%. Investors reacted sharply to the subdued forecast. Read More

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