News

  Bloomberg MuleSoft Inc., the San Francisco-based maker of cloud software, soared in its trading debut after pricing its initial public offering above the marketed share price range. The stock jumped 46 percent to $24.75 at the close in New York, valuing the company at about $3.1 billion. Mulesoft raised $221 million, according to a statement, pricing its shares at ...

  Bloomberg German drugmaker Stada Arzneimittel AG’s biggest problem — its insipid profitability — is making it one of the most hotly coveted assets in a bidding war that’s driven the price to 3.61 billion euros ($3.87 billion). Consortiums of private equity firms including Advent International Corp. and Permira, as well as Cinven Ltd. and Bain Capital, have made offers ...

  Bloomberg British Columbia will exempt some immigrants from a 15 percent home buyers tax in a bid to ensure the Canadian province attracts skilled workers and entrepreneurs. Foreign workers entering the country through a so-called Provincial Nominee Program won’t have to pay the real estate tax. The break will only apply to residents in the Vancouver area. “Our growing ...

  Bloomberg For most of the mining industry, 2017 is turning out to be another good year. The big exception is Lonmin Plc. Investors are losing confidence in the world’s third-largest platinum producer as it burns through cash to stay afloat, just 15 months after raising about $400 million from shareholders. Platinum prices aren’t far from a seven-year low and ...

  Bloomberg Plans to install turbines on platforms that float in the sea are gathering pace as renewable energy developers seek new areas to harvest wind power. Scotland has granted planning permission for as much as 92 megawatts of floating offshore wind capacity, including two separate projects in the past two weeks. In Ireland, the developer Gaelectric Holdings Plc and ...

  Bloomberg Lukoil PJSC returned to profit in the fourth quarter after crude prices rallied. Russia’s No. 2 oil producer reported net income of 46.6 billion rubles ($786 million), compared with a loss of 65 billion rubles a year earlier. That beat the 45 billion-ruble average estimate of seven analysts surveyed by Bloomberg. Revenue held steady at 1.4 trillion rubles. ...

  Bloomberg Singapore’s non-oil domestic exports increased at the fastest pace in five years in February, adding to signs of a recovery in the trade-dependent economy. Non-oil domestic exports rose 21.5 percent in February from a year ago, International Enterprise Singapore said in a report. The median estimate of 18 economists surveyed by Bloomberg was a 12.5 percent increase. Electronics ...

  Bloomberg European Union officials are ruling out any discussions with UK Prime Minister Theresa May over a post-Brexit trade deal until she agrees to settle Britain’s financial commitments to the bloc. In a sign the EU is toughening its stance as Britain prepares to trigger two years of negotiations, two European officials familiar with the plan said in the ...

  Bloomberg Output at US manufacturers rose in February for a sixth consecutive month, underscoring a sustained rebound in the industry. The 0.5 percent gain at factories, which make up 75 percent of overall industrial output, matched the prior month’s advance, marking the best back-to-back performance in three years, a Federal Reserve report showed. Total industrial production, which includes mines ...

  Bloomberg About 1,500 workers at three Indiana factories are facing layoffs despite hopes that President Donald Trump would convince the companies to reverse plans for moving production to Mexico. United Technologies confirmed that the first wave of about 50 layoffs happened last week at its electronics plant that had about 700 workers in Huntington. The plant in the northeastern ...