Mortgage Rates Fall, Meta’s AI Layoffs, Tesla’s Comeback, and Google’s $10B Power Play

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Dear Money Master,

The U.S. mortgage rates hit a 1-year low at 6.4%, hinting at long-awaited housing relief, consumers are burning out on discounts and fashion prices are quietly climbing 24% on outerwear alone. Inflation may be cooling, but costs clearly aren’t.

Overseas, the Bank of Korea is holding firm on interest rates as household debt balloons, while India and the U.S. edge closer to a historic trade deal that could reshape global supply chains and weaken Russia’s oil influence. 🌏

In tech, Google is reportedly chasing a $10B AI cloud partnership with Anthropic, while Meta, despite record profits, is cutting 600 jobs in its AI division. And in China, Alibaba is betting big on wearable AI, unveiling $660 smart glasses and its own ChatGPT rival. 🤖

On the earnings front, Tesla staged a comeback with a 12% revenue jump, IBM and SAP both posted strong AI-driven results, and Netflix spooked investors with a $600M tax bombshell. Meanwhile, Mattel’s classic brands like UNO and American Girl are outshining Barbie this holiday season.💼

📰 Your Daily Financial Digest - October 24th, 2025

🌍 Economics & Finance:

1. U.S. Mortgage Rates Fall to 1-Year Low at 6.4% 🏠
   Rates have declined for nine of the past ten days, marking the lowest level since October 2024. The dip could spur a refinancing wave as borrowers weigh locking in now before any Fed-driven reversals. Read More

2. Bank of Korea Holds Rates Steady Amid Debt Risks 🇰🇷
   The central bank kept its benchmark at 2.5% for a fifth straight month, citing stable inflation and solid growth. Tighter property curbs aim to rein in household debt, with policymakers closely monitoring Seoul’s housing market. Read More

3. U.S. and India Near Trade Deal With Big Tariff Cuts 🌏
   Washington could slash tariffs on Indian exports from 50% to as low as 15%, in exchange for India cutting Russian oil imports. The deal also includes expanded quotas for U.S. non-GMO corn. Read More

4. Fashion Prices Surge 24% on Outerwear as Costs Climb 👗
   Apparel prices are up across the board, with jackets seeing the largest 24% jump. Despite higher prices, demand remains steady, underscoring the fashion industry’s pricing power amid inflation. Read More

5. Consumers Show ‘Discount Burnout’ Ahead of Black Friday 💸
   After months of relentless promotions, shoppers are growing numb to sales. A new survey shows price sensitivity down 13% YoY, even as retailers gear up for the holiday discount season. Read More

💻 Technology:

1. Google in Talks With Anthropic for $10B+ Cloud Deal ☁️
   The deal would give Anthropic access to Google’s TPU chips, strengthening Google Cloud’s AI infrastructure dominance. Anthropic’s recent $183B valuation signals intense competition with OpenAI. Read More

2. Meta Lays Off 600 in AI Division Despite Booming Profits 🤖
   Meta’s Superintelligence Labs is trimming staff while reallocating resources to its new TBD Lab. The restructuring reflects Meta’s effort to streamline operations amid surging AI investment. Read More

3. Alibaba Unveils $660 AI Glasses and New ChatGPT Rival 🕶️
   Alibaba’s Quark AI Glasses debut at 4,699 yuan ($659), shipping in December. The company also launched “AI Chat Assistant,” its latest step in challenging OpenAI and Baidu in China’s AI ecosystem. Read More

💹Earnings:

1. Tesla Returns to Revenue Growth as Deliveries Hit Record 🚗
   Revenue rose 12% YoY to $28.1 billion, fueled by buyers rushing to claim expiring tax credits. Tesla’s rebound follows two quarters of decline as global deliveries reach new highs across all regions. Read More

2. IBM Beats Earnings Expectations 💼
   IBM posted EPS of $2.65 vs. $2.45 expected and revenue of $16.33 billion, up 9% YoY. However, profit-taking and cautious guidance led to a post-market selloff. Read More

3. SAP Secures 85% of 2026 Revenue as AI Deals Surge 🇪🇺
   Europe’s top software firm said AI is the key driver of its record pipeline. SAP’s cloud backlog jumped 23% to €18.8 billion, ensuring most of next year’s revenue is already locked in. Read More

4. Mattel Sees Growth in UNO and American Girl Dolls 🎲
   Mattel reported nine straight quarters of growth for UNO and rising sales for American Girl, offsetting declines in Barbie and Polly Pocket lines ahead of the holiday season. Read More

5. Netflix Spooks Investors With Surprise $600M Tax Expense 🎬
   Despite strong content performance, Netflix took a $600 million charge tied to a Brazilian tax ruling, dragging shares down. Read More

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