Uber pauses Europe food expansion, Continental exits ContiTech, OPEC+ opens taps

Uber is halting planned launches in five of seven European food delivery markets this year while it pursues a takeover of Delivery Hero, the Financial Times reported. The pause marks a shift from expansion to consolidation—a signal that growth-for-growth's-sake no longer pays in a saturated delivery landscape. The deal would hand Uber a dominant European position but only if regulators and integration risk cooperate.

Continental agreed to sell its ContiTech industrial division to Lone Star Funds for $4.6 billion, according to Reuters. The German supplier is narrowing its portfolio to auto-focused businesses at a time when the sector itself is repricing around slower EV adoption and uneven demand. The sale is portfolio discipline, not distress, but it reflects a broader trend: industrial conglomerates trading complexity for capital.

OPEC+ is set to approve another oil output increase, sources told Reuters, continuing the cartel's gradual unwinding of cuts even as demand signals remain mixed. The move suggests the group is prioritizing market share over price discipline, a read-through that matters more for energy equities than headline crude quotes. If the increase holds, watch energy margins compress while refiners and midstream names recalibrate.

Elsewhere, Airbus CEO Guillaume Faury told Reuters he is "not necessarily optimistic" on European defense cooperation despite renewed political talk. The comment underscores the gap between Currents-level remilitarization themes and the reality of fragmented procurement. The London Metal Exchange approved Adani's major copper smelter in India as a listed brand, adding capacity to a tight global copper market. And Russia's VTB Bank will boost reserves as fuel prices stoke inflation, a reminder that sanctions and energy volatility still shape emerging-market credit risk.