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Harvard University’s talks with the White House have stalled, according to a person familiar with the matter, threatening a quick resolution to a standoff that’s threatening the school’s finances and upending foreign student plans.

A potential deal was knocked off course last week, although hopes remain for an accord, said the person, who asked not to be named because the discussions are private. Harvard didn’t immediately reply to a request for comment.

The Trump administration ramped up pressure on Harvard earlier Monday, saying that a US investigation found that the school violated civil rights law in its treatment of Jewish and Israeli students. “Failure to institute adequate changes immediately will result in the loss of all federal financial resources,” the government said in a letter to Harvard President Alan Garber.

The Dutch government needs more time to assess the options for TenneT Holding BV’s German high-voltage business and a decision is likely to come in September.

TenneT has been preparing the German business for an initial public offering or private stake sales and has held discussions with potential investors, according to a letter sent by Dutch Finance Minister Eelco Heinen to the parliament on Monday. The government initially aims to decide on which path to pursue at the beginning of the summer break.

“Many investors are interested in investing in TenneT Germany,” Heinen said in the letter. “Both paths could offer promising and attractive opportunities to cover our capital needs. I have therefore decided to pursue both options in parallel this summer.”

Oil traders expect OPEC+ will agree a fourth bumper oil supply increase this weekend as group leader Saudi Arabia continues its bid to reclaim market share.

Eight key OPEC+ nations are preparing to discuss another hike of 411,000 barrels a day, due to take effect in August, delegates said last week. They’ll likely approve the move when they hold a video conference on Sunday, according to a survey of 32 traders and analysts.

The Organization of the Petroleum Exporting Countries and its allies have been reviving halted output at triple the initially-scheduled rate during the past three months, despite faltering fuel demand and signs of global oversupply.

Russia summoned Azerbaijan’s ambassador after police in Baku raided the office of a Russian state-funded media outlet amid deteriorating relations between the former Soviet neighbours.

The Foreign Ministry in Moscow accused Azerbaijan of “unfriendly actions” after staff at Sputnik Azerbaijan were detained, the Tass news service reported Monday.

That came after Azerbaijan on Sunday cancelled cultural events linked with Moscow in the oil-rich Caucasus state over the deaths of two Azerbaijani men during a police raid in the Russian Urals city of Yekaterinburg. Several others were injured and six people were arrested.

Top dairymaker Lactalis says it will assess ingredients in newly-acquired yogurt brands like Yoplait and Go-Gurt as Health Secretary Robert F. Kennedy Jr.’s “Make America Healthy Movement” campaigns for changes in the US food supply, including reducing sugar and removing artificial ingredients.

The company, which completed its acquisition of General Mills’s US yogurt business on Monday, will start discussions on ingredients within the next 30 days, said Lactalis US Yogurt Chief Executive Officer Bill Cassidy. The deal was first announced last September.

“That will be one of the first things that we will be doing after this deal closes, is sitting down with them to review their ways of doing business,” Cassidy said in an interview. The companies weren’t permitted to have many of those conversations prior to the deal closing, “but you can see what’s going on in the industry as a whole,” Cassidy said, referencing recent commitments from General Mills and Kraft Heinz to remove food dyes from their products.

Canola futures climbed as much as 3.2% — the biggest intraday gain in two weeks — after the Canadian government said it scrapped a digital tax in an effort to restart talks on a broader trade deal with the US.

The move raised hopes that Canada’s supplies will continue flowing to the US, the biggest importer along with China of the oilseed used to make cooking oil, biofuel and animal feed. Canola had been primed for a rebound after falling by more then 6% last week, in part on pressure from rainfall in the Prairies that helped alleviate dry soil conditions.

“The trade news is modestly positive,” said Lawrence Klusa, president of Winnipeg-based advisory firm Seges Markets. Still, he was looking for “some bounce back after the brutal week.”

Robinhood Markets Inc. is joining the growing push to trade US equities on the blockchain, making tokenised U.S. securities available to 150,000 customers in 30 countries, 24 hours a day, five days a week.

The company will own the shares backing the tokens, a spokesperson said, and while token holders will have most of the benefits of the underlying security, including dividends, voting rights won’t be initially supported. Bloomberg previously reported that the product was in development.

Tokenised securities — blockchain-traded assets whose value mirrors the underlying equity — are gaining popularity with international investors eager to participate in the growth of the US stock market.

Treasury Secretary Scott Bessent indicated it wouldn’t make sense for the government to ramp up sales of longer-term securities given where yields are today, though he held out hope that interest rates across maturities will be falling as inflation slows.

“Why would we do that?” Bessent said in a Bloomberg Television interview Monday when asked about increasing the share of longer-term securities in Treasury debt issuance. “The time to have done that would have been in 2021, 2022.”

Stablecoin issuer Circle Internet Group Inc. has surged more than five-fold since its initial public offering earlier this month, but analysts at lead underwriter JPMorgan Chase & Co. say that the rally has gotten out of hand.

“We see competition as a potential threat to Circle,” JPMorgan’s Kenneth Worthington wrote in a note initiating coverage on the company at underweight. He also assigned the lowest price target on Wall Street, $80, implying a nearly 60% drop in the stock.

JPMorgan’s bearish call is surprising as firms that help guide a company’s move to the public market tend to be more friendly but Circle’s debut has been the hottest crypto-linked listing in years. In the days following the US Senate’s passage of stablecoin legislation on June 17 a buying frenzy in Circle ensued, driving the stock of the second-largest stablecoin issuer as high as $298.99, well above its $31 IPO price.

Senate Republicans are moving forward with a plan to mask the $3.8 trillion cost of extending expiring tax cuts in President Donald Trump’s signature economic legislation by using an unprecedented accounting manoeuvre.

GOP senators voted Monday in favour of the plan to count the extension of Trump’s 2017 tax cuts as costing nothing, over objections from Democrats and despite concerns raised by economists about the US debt trajectory.

Republicans argue that using this accounting method, known as “current policy,” would allow them to include more tax cuts in Trump’s “One Big, Beautiful Bill.”

The cost of extending Trump’s first-term tax cuts, according to the Joint Committee on Taxation, totals $3.8 trillion. The other tax provisions in the bill cost nearly $693 billion, and only that smaller figure is considered in the official price tag for the bill.

The US Supreme Court refused to hear American Airlines Group Inc.’s appeal of a lower court ruling that its partnership with JetBlue Airways Corp. violated federal antitrust laws by eliminating competition between the carriers and limiting travelers’ choices for flights.

American turned to the Supreme Court after the 1st US Circuit Court of Appeals in November upheld a district judge’s ruling that the partnership violated federal antitrust laws. The airlines maintained that their Northeast Alliance, focused on Boston and New York, benefited consumers and allowed them to compete more effectively against United Airlines Holdings Inc. and Delta Air Lines Inc.

The US Supreme Court refused to question an Internal Revenue Service summons that forced Coinbase Global Inc. to turn over transaction information for more than 14,000 cryptocurrency customers.

The justices without explanation rejected an appeal from an account holder who said the IRS violated his rights under the Constitution’s Fourth Amendment.

Privacy advocates had hoped the case would put new limits on government searches in the digital age. Coinbase account holder James Harper asked the Supreme Court to revisit a 1976 ruling that said customers don’t have privacy rights in records held by their banks.

Moderna Inc. said its experimental flu shot met its goal in a late-stage trial, clearing the path for its broader strategy of selling combination vaccines.

The shot’s efficacy was 27% higher than a licensed influenza vaccine in adults 50 years and older, the company said in a statement Monday. The trial enrolled more than 40,000 adults across 11 countries.

The results set the stage for Moderna to offer a single shot that protects against Covid and flu. US regulators recently told the company that it needed to produce flu vaccine efficacy data — and not just data on the immune response — delaying a potential approval for a combination shot until next year.

Shares rose as much as 5.8% at the start of normal trading on Monday in New York.

Republican party leaders are rushing to overcome lingering internal fights over President Donald Trump’s massive tax and spending package as Democrats launch attacks to exploit the divisions.

Senate Republicans were still at odds Monday over how much to cut Medicaid and other social safety-net programs and how rapidly to end Biden-era clean energy tax breaks as Democrats gained the chance Monday to force votes on amendments to the package.

Democrats, locked out of power in Washington, are aiming to offer amendments during a marathon voting session to exploit the infighting and make the GOP goal of getting holdouts to back the bill as soon as tonight more difficult.

Stocks rose early Monday as increasing trade hopes among investors positioned Wall Street to close out a stunning month with even more record highs.

The Dow Jones Industrial Average climbed 209 points, or 0.5%. The S&P 500 gained 0.5%, building on the record highs set in the previous session. The Nasdaq Composite advanced 0.55%, also reaching fresh all-time highs.

Monday’s advance follows Canada rescinding its digital service tax in an effort to facilitate trade negotiations with the U.S. That’s after President Donald Trump on Friday said the U.S. was “terminating ALL discussions on Trade with Canada.”

Initial payments on the tax were set to begin Monday and would have applied to companies such as Google, Meta and Amazon.

Cirsa Enterprises, the casino operator backed by Blackstone Inc., is targeting a valuation of €2.5 billion ($3 billion) in its initial public offering, setting the stage for Spain’s second biggest IPO so far this year.

The offering is set to consist of about 30.2 million shares for sale at €15 apiece, which would raise about €453 million, according to a statement on Monday. The deal would be Spain’s second-largest IPO so far this year, according to data compiled by Bloomberg.

The fixed-price share sale comes as European IPOs have had a mixed path to the public market ahead of the summer holiday. German medical technology company Brainlab is set to price its first-time share sale at the bottom end of the range, according to terms on Monday. Gaming technology firm Hacksaw had a tepid debut in Stockholm last week.

The French tally of negative power prices through June has already overtaken last year’s record, as sunny, windy days boost renewable output.

As of Monday morning, Europe’s second-biggest power market had clocked 363 hours of negative prices, surpassing 2024’s record of 356 hours, according to a Bloomberg analysis of EPEX Spot SE data. Neighboring markets like Germany and Spain have also seen record numbers for the season.

Negative prices are becoming a more frequent phenomenon across Europe as solar and wind power flood the network. What is welcome news for many consumers, means lower returns for investors.

Canada has decided not to move forward with a digital services tax as it seeks to revive trade talks with the US, following President Donald Trump’s remarks that negotiations with Canada had been called off.

US Treasury yields declined as investors watched for the Senate’s decision on President Donald Trump’s contentious spending bill. The 10-year yield fell by over 3 basis points to 4.248%, while the 30-year yield dropped more than 4 basis points to 4.805%. Meanwhile, the 2-year yield slipped by over 1 basis point to 3.725%.

The US Federal Reserve probably won’t have a clear enough picture of inflation by July to support an interest rate cut, Atlanta Fed President Raphael Bostic said in an interview with CNBC’s “Squawk Box Europe” on Monday.

Moderna Inc. said its experimental flu shot met its goal in a late-stage trial, clearing the path for its broader strategy of selling combination vaccines.

The shot’s efficacy was 27% higher than a licensed influenza vaccine in adults 50 years and older, the company said in a statement Monday. The trial enrolled more than 40,000 adults across 11 countries.

The results set the stage for Moderna to offer a single shot that protects against Covid and flu. US regulators recently told the company that it needed to produce flu vaccine efficacy data — and not just data on the immune response — delaying a potential approval for a combination shot until next year.

Shares rose as much as 7.4% in premarket trading in New York on Monday.

China’s home sales extended their slump in June, putting further strain on the economy and underscoring the impetus for fresh support measures.

The value of new-home sales from the 100 largest property companies stood at 339 billion yuan ($47.3 billion), the latest preliminary data from China Real Estate Information Corp. on Monday showed. That represents a 23% fall from a year ago, according to Bloomberg calculations. June’s sales follows an 8.6% decline in May. On a monthly basis, however, the latest sales were up 14.7% from May, CRIC said.

China’s housing downturn has dragged on for four years, as the effects of a stimulus blitz last September wear off. Premier Li Qiang this month pledged more action to revive the market, which analysts say is necessary to boost consumption and offset the threat to exports from US tariffs.

Ireland should broaden its tax base to ensure its budget protects long-term fiscal stability, the Central Bank of Ireland warned.

“The need to reduce the risks to the public finances from an excessively narrow tax base has become more immediate, given the reliance on corporate tax receipts from an excessively narrow tax base from a small number of multinational enterprises, which may be more vulnerable in light of geoeconomic fragmentation,” Governor Gabriel Makhlouf wrote in a pre-budget letter to the Irish government.

Ireland’s small, open economy has a strong fiscal position for now, with one of Europe’s few budget surpluses thanks to corporation tax receipts from US corporates such as Apple Inc. and Pfizer Inc. However, US President Donald Trump’s tariff war threatens the Irish economic model based on foreign direct investment, which the government has acknowledged will likely slow growth.

Saudi private equity firm Jadwa Investment has committed $45 million to Saudi fuel and fleet management firm PetroApp, with a view toward taking the company public by 2028.

The funding is part of a $50 million round for PetroApp that also includes Abu Dhabi-based Bunat Ventures, according to a statement. Jadwa is investing through its flagship blind pool fund and said it expects to finalise another deal with a healthcare company before the end of 2025.

Jadwa has completed a number of deals in recent weeks as part of a broader strategy to scale regional businesses and capitalise on public offering momentum. It aims to raise another $104 million for its blind pool fund before year-end and is also said to be looking to divest its stake in Saudi firm UniPharma at a valuation of $267 million.

The European Central Bank tweaked the way it uses monetary policy to steer the economy, suggesting it will more carefully weigh risks to the inflation outlook as well as the tools it uses to deliver its 2% goal.

The ECB confirmed Monday that it will take a symmetric approach to keeping price growth at that level over the medium term, and said it will use an “appropriately forceful or persistent policy response” to large and lasting deviations in either direction.

That’s a shift from its findings four years ago, when policymakers committed to taking “especially forceful or persistent” action to avoid too-low inflation becoming entrenched when the economy is “close to the lower bound.”

Turkey’s bid to buy Eurofighter Typhoon jets has won support from all consortium members, the UK said, raising prospects for a deal previously blocked by Germany.

“We are certain all four consortium partners support this sale,” UK Foreign Secretary David Lammy told Hurriyet Daily News, referring to the UK, Germany, Italy and Spain. His comments were published Monday ahead of a meeting with Turkish Foreign Minister Hakan Fidan in Ankara.

Lammy said Turkey’s role as a European security partner is “more crucial than ever” as governments across the continent ramp up defense spending to counter Russia. Turkey, home to NATO’s second-largest military after the US, is seen as key to regional stability.

Nintendo Co. pulled its products from Amazon.com Inc.’s US site after a disagreement over unauthorised sales, meaning the e-commerce company missed out on the recent debut of Nintendo’s Switch 2 — the biggest game console launch of all time.

The Japanese company stopped selling on Amazon after noticing that third-party merchants were offering games for sale in the US at prices that undercut Nintendo’s advertised rates, according to a person familiar with the situation. Enterprising sellers were buying Nintendo products in bulk in Southeast Asia and exporting them to the US, said the person, who requested anonymity to discuss confidential information.

Nintendo product listings started disappearing from Amazon’s US site last year, gaming news outlets reported at the time. The listings had previously appeared as “Sold by Amazon,” which typically denotes merchandise the online retailer buys directly from brands. Some Nintendo products remained on the site, but they were listed by independent merchants who sell their goods on Amazon’s sprawling online marketplace.

Sight deposits at the Swiss National Bank rose sharply after its reduction of borrowing costs to zero, as foreign banks moved cash to the institution to escape negative interest paid in the money market.

Last week, total sight deposits increased by some 18 billion francs ($23 billion) compared to the previous period, according to data published on Monday. This was due to holdings from foreign banks rising by 22 billion francs, while those of domestic lenders dropped by 4 billion francs.

Banks likely moved their money because the average interest rate in the Swiss money market dropped into negative territory after the SNB cut its policy rate to zero. On Friday, the so-called Saron stood at -0.04%.

Gold rose slightly, supported by a dip in the dollar, as Senate negotiations continued over President Donald Trump’s $4.5 trillion tax package and US trade talks progressed ahead of a July 9 deadline.Bullion rose 0.3% on Monday, following two consecutive weekly declines. Republicans are seeking to convince holdouts to support the tax bill for final passage, with a vote set to spill into Monday. The bill’s cost has been a big problem for fiscal conservatives amid concerns that it will further swell the deficit. Meanwhile, with just 10 days to go until Trump’s country-specific tariffs are set to resume, investors were weighing signs of potential progress following recent comments from top White House advisers that indicated the US is nearing trade agreements with several nations.

President Donald Trump said he has identified a buyer for the US operations of TikTok, the social media app owned by Chinese company ByteDance Ltd., without naming the winning bidder. Completing a sale would be contingent on Beijing and President Xi Jinping’s agreement, Trump added in a pre-taped interview on Fox New’s Sunday Morning Futures with Maria Bartiromo. ByteDance and the Chinese government have long opposed such a deal. “We have a buyer for TikTok, by the way. I think I’ll need probably China approval and I think President Xi will probably do it,” the US president said. “It’s a group of very wealthy people.”

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