Alpek Receives Credit Downgrade from Moody’s
Alpek, a petrochemical company spun off from the Mexican conglomerate Alfa, has experienced a downgrade in its credit outlook due to expectations of weak earnings and a slow recovery in its polyester business.
Moody’s changed Alpek’s credit perspective from “stable” to “negative,” while maintaining its rating at ‘Baa3,’ the lowest in the investment-grade assets group.
The rating agency highlighted that Alpek faces challenges due to high concentration of suppliers and specific customers for raw materials, which are vulnerable to lower demand.
Starbucks Adopts Four-Day Workweek for Corporate Employees
The U.S.-based coffee chain, Starbucks, announced on Monday that it will transition its remote work policy from three days a week to four days for corporate employees in select locations as the new fiscal year begins in October.
The change will apply to Starbucks’ support centers in Seattle, U.S., and Toronto, Canada, as well as regional offices in North America, according to CEO Brian Niccol’s blog post.
Starbucks also modified its remote work policy, stating that all support center leaders are expected to be based in Seattle or Toronto within 12 months. Although individual employees aren’t being relocated, future hiring and lateral moves will require a Seattle or Toronto base.
Coinbase Faces Unfavorable Outlook Before Q2 Results
Coinbase appears to be facing an unfavorable outlook before its Q2 results due to low trading volume, according to Oppenheimer’s note to clients.
The investment firm predicts Coinbase’s trading volume for Q2 will be $220 billion, a 3% decrease year-over-year and 44% decrease sequentially—24% below consensus estimates.
Coinbase’s stock surged over 100% in the quarter, performing best among S&P 500 stocks in Q2 due to factors like its index inclusion and the Senate’s approval of the GENIUS Act.
Mexican Auto Industry Sees Growth Opportunity
Despite international challenges, the Mexican auto industry has a key growth opportunity. The National Association of Bus, Truck, and Tractor Producers (ANPACT), led by Rogelio Arzate, called for strengthening the domestic market with a more modern, sustainable, and competitive fleet, especially for MIPyMES.
By adopting vehicle renewals and clean technologies like electromobility and ultra-low sulfur diesel, ANPACT aims to improve the efficiency and productivity of the sector.
Although Q1 2025 showed a decline in sales and production, the industry remains committed to economic growth and sustainability, aiming to boost heavy vehicle exports and continue transforming auto transportation into a more eco-friendly and competitive model.
Key Questions and Answers
- Q: What led to Alpek’s credit downgrade? A: Expectations of weak earnings and a slow recovery in Alpek’s polyester business due to high supplier concentration and vulnerability to lower demand for raw materials.
- Q: How has Starbucks changed its remote work policy? A: Starbucks will transition from a three-day to a four-day workweek for corporate employees in select locations, with leaders expected to be based in Seattle or Toronto within 12 months.
- Q: What challenges does Coinbase face before its Q2 results? A: Low trading volume, with predicted Q2 volume at $220 billion, 3% below last year and 44% below the previous quarter—below consensus estimates.
- Q: How is the Mexican auto industry positioned for growth? A: Despite recent declines, the Mexican auto industry aims to strengthen domestic markets with modern, sustainable fleets and continue transforming into a more eco-friendly and competitive model.
