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US oil futures backwardation narrows to 20-month low on mounting fears of a glut

By Georgina McCartney HOUSTON (Reuters) -Front-month U.S. crude oil futures ended Monday’s trading at their smallest premium since January 2024 over the seventh-month contract, as OPEC+ ramps up supply while seasonal refinery maintenance in the U.S. pressures demand for prompt barrels.  Narrowing backwardation, the market term ...
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Goldman Sachs buys venture capital firm Industry Ventures

NEW YORK (Reuters) -Goldman Sachs has agreed to buy Industry Ventures, a leading venture capital firm that manages $7 billion of assets, in a bid to expand its services to technology entrepreneurs, it said on Monday. Industry Ventures has one of the largest portfolios of ...
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NASA’s Jet Propulsion Laboratory to lay off about 550 workers

(Reuters) -NASA’s Jet Propulsion Laboratory said on Monday it will cut nearly 550 jobs as part of a restructuring, not related to the current U.S. government shutdown. JPL is NASA’s only federally funded research and development center. It designed, built and operated all five of ...
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Moody’s puts Chrysler owner’s credit ratings on negative outlook

By Matt Tracy (Reuters) -Credit rating agency Moody’s Ratings changed European automaker Stellantis’ ratings outlook to negative on Monday, though maintained its current ratings. In their Monday report, Moody’s analysts outlined the financial risks facing the owner of Chrysler, Fiat, Jeep and other car brands. The report ...
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Bombardier announces Comlux Aviation as new Global 8000 business jet customer

(Reuters) -Bombardier added a new order from Comlux Aviation for its Global 8000 business jet to its backlog, the Canadian planemaker announced on Monday during the National Business Aviation Association’s annual conference. The company is still on track this year to deliver the first Global ...
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Michelin cuts annual outlook on worse-than-expected tire demand in North America

(Reuters) -French tire maker Michelin on Monday cut its full-year outlook citing worse-than-expected business conditions in the North American market that have eroded sales volumes and margins. The company now expects 2025 segment operating income at constant exchange rates between 2.6 billion euros and 3.0 ...
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Brookfield acquires remaining Oaktree stake for $3 billion to boost credit business

(Reuters) -Brookfield said on Monday it would buy the remaining 26% stake in U.S.-based asset manager Oaktree Capital Management for about $3 billion, as the investment firm looks to strengthen its credit business. Under the terms of the deal, New York-based Brookfield Asset Management and ...
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Dating app Grindr explores go-private deal, Semafor reports

(Reuters) -Insiders at dating app Grindr are discussing taking it private after a share slump put its top owners in a tight personal financial position, Semafor reported on Monday, citing people familiar with the matter. Grindr shares jumped more than 10% following the report. They ...
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Robinhood open to deals to grow prediction markets business, exec says

By Manya Saini and Niket Nishant (Reuters) -Trading platform Robinhood Markets is open to potential acquisitions in the fast-growing prediction markets space, a top executive told Reuters in an interview on Monday, as interest in the once-niche asset class surges globally. “We as a firm ...
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Fed’s Paulson says Fed would react to burst of inflation

(Reuters) -Federal Reserve Bank of Philadelphia President Anna Paulson said on Monday that if inflation pressures do not moderate as she expects the central bank should be willing to take action. If inflation shows “a burst of, you know, shows some life, then the Fed’s ...
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Tariff uncertainty could curb investment in small businesses, UN trade agency says

By Olivia Le Poidevin GENEVA (Reuters) -Small and medium-sized businesses and developing economies are likely to be at particular risk of a slowdown in investment due to ongoing tariff uncertainty, the Secretary-General of the UN Trade and Development Agency told Reuters on Monday. “We fear that ...
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Champions League to feature opening game for titleholder and streaming deal from 2027

GENEVA (AP) — The Champions League titleholder will play a showcase opening home game as part of new commercial contracts for UEFA club competitions from the 2027-28 season that include a global streaming deal to drive annual revenue above 5 billion euros ($5.8 billion). It’s ...
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