Bloomberg Iran will go along with whatever decision OPEC makes at its meeting later this month on whether to extend oil production cuts beyond June, Oil Minister Bijan Namdar Zanganeh said. “All indications are that the members want a renewal of the deal and we will go along with what they agree upon,” Zanganeh said on Saturday on the ...

  Bloomberg Two thirds of Indonesia’s major companies missed earnings estimates in the first quarter, but that’s done little to stop investors from pouring into this enduring emerging-market darling. Overseas funds pumped the most money into the market in April for any month since mid-2014, even as Indonesia’s capital region saw its business-friendly governor lose a re-election campaign. The Jakarta ...

  Bloomberg China’s Beijing WKW Automotive Parts Co. is betting on the future of electric mobility in Germany with a billion-euro factory nearby plants owned by Volkswagen AG and BMW AG. Beijing WKW will invest as much as 1.13 billion euros ($1.24 billion) on an electric car factory in the eastern state of Saxony that will create over 1,000 new ...

  Bloomberg India’s first bond-like securities giving investors exposure to the nation’s infrastructure projects received bids for 8.5 times the number of units offered. IRB Infrastructure Developers Ltd., the Mumbai-based road operator, will list the hybrids known as infrastructure investment trusts on May 8. The IRB InvIT Fund’s initial public offering was fully subscribed on Friday, the last day of ...

  Bloomberg Warren Buffett is acknowledging what many investors have already realized: IBM’s long-promised reinvention is slow, painful and nowhere near close to the end. In an interview with CNBC, the billionaire chairman and chief executive officer of Berkshire Hathaway Inc. disclosed that he sold about a third of the firm’s investment in the computer-services giant during the first half ...

  Bloomberg Kraft Heinz Co., rebuffed in its bid to buy Unilever earlier this year, is struggling to reignite sales in the absence of a deal. First-quarter revenue dropped to $6.36 billion, the food giant said. That missed the $6.46 billion average of analysts’ projections. Earnings also fell short of estimates, suggesting that Kraft Heinz’s much-vaunted cost cutting didn’t do ...

  Bloomberg Mitsubishi Tanabe Pharma Corp. won US approval for its medication to treat Lou Gehrig’s disease, the first new drug for the condition in more than two decades and just the second approved option for patients with the rare and deadly muscle-weakening ailment. Radicava will cost about $145,000 a year before any discounts and rebates, with assistance available to ...

  Bloomberg US payroll gains rebounded in April by more than forecast and the jobless rate unexpectedly fell to 4.4 percent, signaling that the labor market remains healthy and should support continued increases in consumer spending. The 211,000 increase followed a 79,000 advance in March that was lower than previously estimated, a Labor Department report showed. The median forecast in ...

  Bloomberg The race to sell soft drinks online has a surprising second-place winner: Zevia. The zero-calorie, sugar-free soda brand sold more online than Pepsi, Mountain Dew, Sprite or Dr Pepper, according to a new study. The Los Angeles-based company only fell short of perennial soda king Coca-Cola, according to 1010data Inc., an analytics company. From March 2016 through February, ...

  Bloomberg Home Capital Group Inc. added a former banker to its board of directors in a move the Canadian mortgage lender called “the start of our governance renewal.” Alan Hibben, a former RBC Capital Markets managing director who specialized in mergers and acquisitions, replaces Home Capital founder Gerald Soloway, who the Ontario Securities Commission named as one of the ...