May, 2017

• 6 May

  Trump delay stalls $50mn energy projects

  

    Bloomberg By the time Midwesterners fire up their furnaces this fall, the $2 billion Nexus pipeline is supposed to be pumping natural gas to heat homes from frosty Ohio to frostier Ontario. But six months out, the 255-mile (410-kilometer) pipeline exists only on paper. Until President Donald Trump fills key vacancies at an energy regulator, Nexus and other sprawling ...

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• 6 May

  Energy Transfer spills through Ohio on rise

  

    Bloomberg The number of spills tied to a natural gas pipeline that Energy Transfer Partners LP is building through Ohio is mounting. And so is the tension between the Dallas-based pipeline giant and state regulators. Last month, the company reported two spills that sent almost 50,000 barrels of drilling fluids flowing into Ohio wetlands while working to install its ...

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• 6 May

  Iran to go along with OPEC decision on extending cuts

    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 ...

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• 6 May

  Indonesia still a darling for investors ignoring earnings

  

    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 ...

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• 6 May

  China bets $1.2 billion on e-cars in VW’s Germany

  

    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 ...

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• 6 May

  India’s first infrastructure trust IPO gets 8.5 times demand

    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 ...

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• 6 May

  IBM falls as Buffett reports reduced stake

  

    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 ...

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• 6 May

  Kraft Heinz under pressure as sales drop

    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 ...

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• 6 May

  Drugmaker wins FDA nod for new ALS drug

  

    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 ...

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• 6 May

  US unemployment falls to pre-crisis low, jobs rebound

  

    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 ...

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