2025-11-07 15:28

MEXICO CITY, Nov 7 (Reuters) - Mexico's annual inflation decelerated in October, official data showed on Friday, staying within the central bank's target range, although analysts remained cautious about the path ahead. Consumer prices in Mexico rose 3.57% in the year through October, according to national statistics agency INEGI, down from 3.76% the previous month and roughly in line with economists' forecasts in a Reuters poll that pointed to a 3.56% increase. Sign up here. Despite the inflation rate remaining within the central bank's target range of 3%, plus or minus a percentage point, for the fourth month in a row, analysts and policymakers have adopted a cautious tone. "We anticipate a rebound in annual inflation in early 2026 as a result of the effects of tax increases," economists at Banamex said in a note. For next year, Gabriel Casillas, Barclays head of LatAm Economics Research, particularly mentioned the expected tax increase on soft drinks, the imposition of tariffs on imports from non-FTA countries and the awaited 12% minimum wage increase, as the most relevant issues hitting inflation. "On the monetary policy side, we still expect Banxico to match the U.S. Fed's actions one-to-one in upcoming meetings, taking the reference rate to 7.00% before year-end 25 and then to 6.50% by year-end 26," Casillas told Reuters. Mexico's central bank, also known as Banxico, lowered borrowing costs on Thursday for the fourth consecutive time, reducing its benchmark rate by 25 basis points to 7.25%, its lowest level since May 2022. The closely watched core index, which strips out some volatile food and energy prices, increased 0.29% on a monthly basis, compared with expectations of a 0.28% increase. GROWTH CONCERNS Together with concerns about core inflation, the bank's policymakers cited the ongoing weakness in Mexico's economy. Banxico's governor Victoria Rodriguez told Imagen radio late Thursday that she expects the economy to maintain moderate growth, with persisting slack conditions. The governor, who voted in favor of the latest rate cut, noted that the bank's quarterly report due at the end of November will update its gross domestic product and inflation forecasts. https://www.reuters.com/world/americas/mexico-annual-inflation-decelerates-october-concerns-persist-2025-11-07/

2025-11-07 14:40

Nov 7 (Reuters) - Peloton Interactive (PTON.O) , opens new tab shares jumped 7% on Friday after the fitness company beat quarterly revenue estimates, buoyed by early traction from its revamped product lineup and price hikes across hardware and subscriptions, reinforcing investor confidence in its turnaround strategy. The upbeat results mark a turning point for Peloton under CEO Peter Stern, who took the helm in January and has focused on restoring profitability, streamlining operations, and repositioning the brand for growth through a refreshed product lineup and pricing strategy. Sign up here. "We are encouraged by Peloton's progress across improving profit, ramping free cash flow, and deleveraging," J.P.Morgan analysts said. "But it remains to be seen whether product and marketing initiatives are significant enough to drive durable revenue growth." Peloton recently re-launched its product portfolio with AI-powered features and raised prices across hardware and subscriptions and its move comes as shoppers pull-back spending on big-ticket discretionary items amid an unsteady economic environment. The company reported revenue of $550.8 million for the quarter, topping analysts' average estimate of $539.82 million, as per data compiled by LSEG. The stock trades at a price-to-earnings ratio of 79.95, reflecting expectations for continued earnings momentum. https://www.reuters.com/business/peloton-shares-jump-turnaround-strategy-gains-traction-2025-11-07/

2025-11-07 14:06

WASHINGTON, Nov 7 (Reuters) - The economic impact of the U.S. government shutdown is far worse than expected, but the U.S. economy is likely to rebound quickly once it ends, White House economic adviser Kevin Hassett said on Friday. Construction projects are starting to slow down and travel is suffering, Hassett said in an interview with Fox Business Network. Sign up here. "Travel and leisure is a place that's really being heavily hit right now, and if it continues to get hit, if the air travel thing goes south for another week or two, then you could say that they would have at least a near-term downturn," Hassett said. Hassett, director of the National Economic Council, stopped short of saying any pocket of the U.S. economy was in recession, not going as far as Treasury Secretary Scott Bessent did last week. The labor market is a bit softer, in part because of uncertainty caused by the 38-day government shutdown, Hassett said on "Mornings with Maria." Hassett said he was disappointed after Federal Reserve Chairman Jerome Powell said the Fed could pause interest rates in December. In remarks to reporters later at the White House, Hassett said he expected the U.S. economy to bounce back quickly once the federal government reopens. https://www.reuters.com/business/retail-consumer/impact-us-government-shutdown-far-worse-than-expected-white-house-adviser-says-2025-11-07/

2025-11-07 13:24

S&P lowered rating outlook to negative in April Fiscal pledges mount ahead of 2026 national vote Economy mired in stagnation for a third year PM Orban launches pension top-up, tax cuts BUDAPEST, Nov 7 (Reuters) - A sharp rise in Hungary's budget deficit, if coupled with higher inflation and currency market pressure, could threaten Hungary's credit rating, S&P Global said, as public spending promises mount in the run-up to a tightly contested 2026 election. Faced with the weakest economic stretch of his 15-year rule, Prime Minister Viktor Orban has launched tax cuts for families, wage hikes and other measures ahead of the vote, which S&P Global estimates are already worth some 2% of economic output. Sign up here. On Tuesday, Orban said his government would launch a pension top-up from January, targeting a key demographic with an extra month of payment despite a fresh warning from Fitch Ratings that Hungary's deficit cuts would be slower than expected. "One of the downside dimensions that we are watching, among others, is the developments to Hungary's near- and medium-term fiscal position," S&P Global told Reuters. In April, it lowered the outlook on Hungary's BBB- ratings to negative from stable. S&P said its baseline forecast saw higher budget deficits than the government's targets, taking the possibility of additional public spending promises into account. In mid-October, S&P projected Hungary's budget deficit at 4.5% of economic output this year and 4.25% in 2026. The government now expects a deficit of between 4 and 4.5% this year and around 4% next year. "Should Hungary's fiscal path materially deviate from our forecast, and particularly if coupled with elevated inflation and compounding currency market pressures, risks to the rating level would build," it said in an emailed reply to questions. As an example of the fiscal pressures, Hungary spent 536 billion forints ($1.61 billion) in February under an existing pension top-up scheme, adding to a large shortfall at the start of 2025. Hungary's central bank has left its benchmark rate at the European Union's highest level of 6.5% for more than a year amid uncertainty over the inflation outlook. Government price controls have kept a lid on inflation in the run-up to the vote. ($1 = 333.79 forints) https://www.reuters.com/business/sharp-rise-hungarys-deficit-inflation-could-harm-credit-rating-sp-global-says-2025-11-07/

2025-11-07 12:53

Nov 7 (Reuters) - Abu Dhabi state oil firm ADNOC's trading unit plans to increase the volume it handles by two-thirds over the next few years as part of its international expansion, Bloomberg News reported on Friday, citing its CEO. ADNOC has been stepping up its global expansion in recent years to find new revenue streams for the Gulf state, including building trading operations since 2018. Sign up here. State-owned Abu Dhabi National Oil Company sees trading as a way to capture greater value from the sale of fuels produced in the emirate and elsewhere, Ahmed Bin Thalith, chief executive officer of ADNOC Global Trading, told Bloomberg in an interview published on Friday. "In only five years, we've established offices in Singapore, in Geneva and, soon to come, in the U.S.,” Thalith told Bloomberg. Reuters reported last year that ADNOC was planning to set up a trading desk in the U.S. as part of the United Arab Emirates-backed oil and gas producer's global expansion efforts. Thalith told Bloomberg that the next phase of ADNOC Global Trading's expansion would be an office in Houston in 2027. ADNOC counts two divisions as part of its trading business - ADNOC Trading, focused on crude oil, and ADNOC Global Trading, a joint venture with Italy's Eni (ENI.MI) , opens new tab and Austria's OMV (OMVV.VI) , opens new tab, focused on refined products. https://www.reuters.com/business/energy/uaes-oil-trading-arm-plans-rapid-global-expansion-bloomberg-reports-2025-11-07/

2025-11-07 12:47

NEW DELHI, Nov 7 (Reuters) - India's top gas importer Petronet LNG (PLNG.NS) , opens new tab will receive 500,000 tons of liquefied natural gas (LNG) in 2026 in its 1.2 million ton per year supply deal with ExxonMobil (XOM.N) , opens new tab from Australia's Gorgon project, its managing director said on Friday. Petronet already imports 1.42 million tons per year of LNG from the Gorgon project, in which ExxonMobil has a stake, under a separate long-term contract with the U.S. oil major. Sign up here. The first cargo under the new 15-year deal, which was agreed in 2017, is expected to arrive between March and April next year, Managing Director A.K. Singh told a press conference. ExxonMobil will deliver about eight cargoes to Petronet in 2026, Singh said. The volumes will gradually increase over three years to 20 cargoes annually, equivalent to 1.2 million tons per year, he said. Singh said global LNG prices could hover around $11-$12 per million British thermal units if the winter is severe, but expects prices to soften in 2026 as more supply comes online globally. Indian companies are investing in their gas infrastructure as the country aims to raise the share of natural gas in its energy mix to 15% by 2030 from the current 6.2%. Petronet plans to complete the expansion of its Dahej LNG import terminal in western India to 22.5 million tons per year by March 2026, Singh said. It also operates a 5 million-ton-per-year LNG terminal at Kochi in southern India and is building a new 4-million-ton-per-year plant at Gopalpur in easter Odisha state. https://www.reuters.com/business/energy/indias-petronet-lng-get-500000-t-lng-exxon-2026-under-new-deal-2025-11-07/