May, 2017

• 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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• 6 May

  Startup Zevia tops Pepsi in study of e-commerce

  

    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, ...

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• 6 May

  Home Capital adds former banker to board to replace founder

    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 ...

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• 6 May

  China’s new jet completes first flight

  

    Bloomberg China successfully completed the first test flight of its home-built modern passenger jet, bolstering President Xi Jinping’s ambition of turning China into an advanced economy. Amid cheers from onlookers, the C919 airliner took off from Pudong International Airport in Shanghai, the home base of its builder Commercial Aircraft Corp. of China Ltd., or Comac. The jet landed back ...

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