Bloomberg Spotify Technology SA is developing a new version of its free music service, the first big product change since the streaming company went public last week, according to people familiar with the matter. The company is tweaking the free service to make it easier to use, especially for customers on mobile phones, said the people, who asked not to …

Reuters Facebook Inc’s Instagram will soon allow its users to download a copy of all the content they have uploaded on the photo-sharing platform, a spokesman said. The disclosure comes amid global concerns about the privacy of users’ information on social media platforms and the amount of user data that companies keep. While Facebook has allowed its users to download …

Bloomberg OPEC is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said. Less than 10 percent of the surplus in oil inventories remains, as OPEC and its partners have cut production by even more than they intended while world demand …

MILAN / Reuters Italian energy group Eni is considering stepping up its investment in nuclear fusion, potentially doubling down on a technology considered so uncertain that Eni remains the only global oil company prepared to place a bet on it. Eni and bigger rivals such as Shell and BP have been looking at moving into renewable energy as climate change, …

Bloomberg Iraq delayed an international auction of rights to 11 of its oil and natural gas deposits, pushing back the bidding date after introducing changes to the contract, according to people familiar with the matter. The oil ministry re-scheduled the auction for April 25, said one of the people, who asked not to be identified because the information isn’t public. …

BEIJING / Reuters China’s March crude oil imports climbed from a month earlier to the second highest on record, calculated on a daily basis, as refiners replenished stocks on generous government quotas and ahead of peak maintenance season. March shipments came in at 39.17 million tonnes, or 9.22 million barrels per day (bpd), the General Administration of Customs said. That …

LONDON / Reuters Tougher rules introduced after the financial crisis have made it harder for banks to support the economy, a European banking lobby said in a study they hope will stem the flow of new regulation. Banks have been forced to hold far more capital since many of them were bailed out by taxpayers during the 2007-09 financial crisis. …

Bloomberg India’s state-run Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud and more heads could roll, its chief executive said in an interview. The country’s second-biggest state lender disclosed in February that companies owned by two jewellers defrauded it by raising credit from overseas branches of other Indian banks, using illegal guarantees issued …

SEOUL / Reuters South Korea’s central bank held interest rates steady, with Governor Lee Ju-yeol taking a cautious stance in the face of high household debt, weak inflation and tightrope-tense trade relations between the United States and China. The Bank of Korea’s monetary policy committee held its base rate steady at 1.50 percent, in line with forecasts from 18 analysts …

DUBLIN / Reuters Ireland’s central bank raised its forecast for economic growth as domestic activity strengthened and international demand improved, but it said the economy was vulnerable to post-Brexit trade restrictions and changes in European Union tax rules. Ireland’s economy has been the best performing in Europe since 2014 and the central bank sees that momentum continuing, with gross domestic …