OFF THE WIRE

India’s Hindalco Industries (NSE: HALC) flagged concerns over elevated fuel costs in the third quarter after it reported a jump in second-quarter profit on Friday, aided by higher aluminium prices. Rising coal costs could eat into gains from higher metal prices at one of India’s biggest aluminium and copper producers, even as the company expects aluminium prices to hold near current levels for the next two quarters.

TORONTO, Nov 6 (Reuters) - Canadian economic activity expanded ​at a slightly faster ‌pace in October as a measure of employment rose, Ivey ​Purchasing Managers Index (PMI) ​data showed on Friday.The seasonally ⁠adjusted index edged up ​to 58.3 last month ​from 58.2 in September.The Ivey PMI measures the month to month ​variation in economic ​activity as indicated by a panel ‌of ⁠purchasing managers from across Canada. A reading above 50 indicates an increase in ​activity.The ​gauge ⁠of employment rose to an adjusted 58.3 ​from 56.5 in ​September.

Indonesia has included mining companies owned by investors from South Korea, Japan and EU countries on a list of entities with access to more lenient FX earnings retention terms, its senior economic minister Airlangga Hartarto said on Friday.Indonesia previously allowed miners from the United States, Canada, China and Australia to be treated more leniently in its earnings retention regime.

TORONTO, Nov 6 (Reuters) - The Canadian dollar fell to a nearly three-week low against its US counterpart on Friday after domestic data showed the economy shed jobs for ​a third straight month, cooling expectations for Bank of Canada interest rate ‌hikes.The loonie was trading 0.7% lower at 1.4110 per US dollar, or 70.87 US cents, after touching its weakest intraday level since October 19 at 1.4125.For the week, the currency was on ​track to lose nearly 1%, after three straight weeks of gains, as equity ​markets globally were buffeted by a selloff in AI stocks.

Nov 6 (Reuters) - Federal Reserve Bank of San Francisco President Mary Daly said on ​Friday she feels the US central ‌bank will likely need to raise rates further to bring too-high inflation down, even ​as she acknowledged what she ​called the "painful" but orderly repricing of ⁠technology stocks as investors reassess the ​risks to AI-driven demand growth.