Analysis: Why Dubai is getting many ‘likes’
Biden relaxes restrictions on Cuba ahead of Trump inauguration
The World at a Glance
Updated 11:01am EST
1
A key US inflation metric cooled in December, leading bond yields to slide.
2Israel and Hamas may be on the cusp of a ceasefire deal, multiple reports suggested, as talks in Doha took on new urgency.
3South Korea’s impeached President Yoon Suk Yeol finally surrendered to arrest after authorities scaled barricades to bring him into custody.
4The German economy shrank for a second year in a row, a sign of the country’s economic difficulties as it heads into a snap election.
5Daniel Chapo was inaugurated as president of Mozambique amid ongoing unrest over a vote observers said was beset by irregularities.
6A global commodities “supercycle” may be ending as a result of slowing growth in China.
Trump’s populist economic promises meet Republican skepticism
The president-elect is eyeing tax ideas designed to help workers. But going as far as higher taxes on corporations would be a tough sell in the Republican Congress.
Carlos Barria/ReutersTikTok crisis builds unlikely ‘cyberspace bridge’ between US and China
For now, the influx of Americans to Chinese app Xiaohongshu has inspired a rare direct cultural exchange, but it could lead to scrutiny from both countries.
Casey Hall/ReutersLaken Riley immigration bill will cost $83B, Democrats project
Party spending leaders are warning the bill is unworkable in its current form and will cost far more to implement than past estimates.
Evelyn Hockstein/ReutersCleveland-Cliffs’ Goncalves says he has money lined up for US Steel bid
Bank commitments add teeth to his year-long effort to bust up the company’s sale to Japan’s Nippon.
US Department of Labor/FlickrAD
Republicans will only have themselves to blame if can’t pass Trump agenda: Hern
House conservative Rep. Kevin Hern made the remarks in an interview with Semafor’s Elana Schor Tuesday.
Kristoffer Triplaar/SemaforChina mulls selling TikTok to Musk as US sale-or-ban deadline looms
The ByteDance-owned app is set to be banned in the US from Sunday if its US operations aren’t sold to an American company.
David Swanson/File Photo/ReutersTrump would have been convicted, special counsel argues
In a report on his investigation into Donald Trump’s attempt to overturn the 2020 US election, Jack Smith argues the president-elect would have been convicted if he hadn’t been reelected.
Carlos Barria/File Photo/Reuters
politics
Henry Romero/File Photo/ReutersKristoffer Triplaar/Semafor 
J Scott Applewhite/Reuters
Trump tops risk factors for Latin America in 2025
The region relies heavily on agricultural exports so threats of tariffs from the incoming US president may leave many countries vulnerable.
Henry Romero/File Photo/ReutersRepublicans will only have themselves to blame if can’t pass Trump agenda: Hern
House conservative Rep. Kevin Hern made the remarks in an interview with Semafor’s Elana Schor Tuesday.
Kristoffer Triplaar/SemaforJohnson reclaims power over the House floor
The Republican’s predecessor had stocked the influential Rules Committee with conservatives. It looks different now.
J Scott Applewhite/ReutersLaken Riley immigration bill will cost $83B, Democrats project
Party spending leaders are warning the bill is unworkable in its current form and will cost far more to implement than past estimates.
‘The million-dollar question:’ Trump’s populist economic promises meet Republican skepticism
The president-elect is eyeing tax ideas designed to help workers. But going as far as higher taxes on corporations would be a tough sell in the Republican Congress.
Biden relaxes restrictions on Cuba ahead of Trump inauguration
The US State Department is removing Cuba from a list of state sponsors of terrorism, in exchange for the release of political prisoners.
Trump defense pick Hegseth dodges senators’ probing on US military limits
During the contentious confirmation hearing, Pete Hegseth ducked on using US military force in Greenland, or on protesters inside the US.
Trump would have been convicted, special counsel argues
In a report on his investigation into Donald Trump’s attempt to overturn the 2020 US election, Jack Smith argues the president-elect would have been convicted if he hadn’t been reelected.
Democrats debate their next move on the Laken Riley Act
The bill, which would detain undocumented immigrants accused of crimes like theft without bond, has moved forward in the Senate.
Americans believe the US lost ground under Biden, Gallup survey finds
Of 18 issues surveyed, the only one that a plurality of respondents said the US has improved on is rights for gay, lesbian, and transgender people.
Beyond their tactical clash, Republicans far apart on tax plan
Huge questions are unanswered, and House leaders’ aspirational goal of spring passage strikes some as unrealistic.
business
Lucy Nicholson/Reuters/File Photo
Key US inflation metric cools, in welcome news for markets
The cooling boosted expectations of an interest rate cut this year, leading US bond yields to slide.
Lucy Nicholson/Reuters/File PhotoCleveland-Cliffs’ Goncalves says he has money lined up for US Steel bid
Bank commitments add teeth to his year-long effort to bust up the company’s sale to Japan’s Nippon.
China reports record global trade surplus as threat of Trump tariffs looms
US President-elect Donald Trump has vowed to impose tariffs of as high as 60% on China.
China, UK resume economic talks after 6-year hiatus
Critics said the Labour government shouldn’t have prioritized outreach to Beijing over market turmoil at home.
US sanctions on Russian oil to hit China and India hard
China and India became the largest buyers of Russian crude after the European Union pulled back following the 2022 invasion of Ukraine.
technology
Loren Elliott/ReutersCasey Hall/Reuters
Qantas flights delayed due to falling space debris from SpaceX rocket launches
Concerns are mounting about where is safe to launch rockets.
Loren Elliott/ReutersTikTok crisis builds unlikely ‘cyberspace bridge’ between US and China
For now, the influx of Americans to Chinese app Xiaohongshu has inspired a rare direct cultural exchange, but it could lead to scrutiny from both countries.
Casey Hall/ReutersChina mulls selling TikTok to Musk as US sale-or-ban deadline looms
The ByteDance-owned app is set to be banned in the US from Sunday if its US operations aren’t sold to an American company.
UK competition watchdog launches probe into Google search
The US tech giant has faced increasing scrutiny over allegedly anticompetitive practices in recent months.
UK plans to ramp up AI in ‘decade of national renewal’
The Labour government’s proposals include a multibillion-pound investment in computing capacity and the creation of a National Data Library.
OpenAI outlines how the US could lead the global AI race
The ChatGPT-maker published a list of policy proposals on how the US could spur the artificial intelligence industry.
net zero
REUTERS/Ringo Chiu
Philimon Bulawayo/File Photo/Reuters
Mike Blake/Reuters
The home insurance crisis can’t be fixed with money alone
LA’s wildfires make clear that insurance is too cheap. But geophysics are a bigger problem.
REUTERS/Ringo Chiu2024 saw 1.5°C warming threshold breached
The international 1.5°C target has not yet been missed, as this refers to a decades-long average, but last year’s record brings the world closer to doing so.
Philimon Bulawayo/File Photo/ReutersWildfires rip through Los Angeles as tens of thousands evacuate
Experts say wildfires are becoming more frequent and extreme across the world due to climate change.
Mike Blake/Reutersgulf
Tingshu Wang/Reuters
UAE plans $6B always-on clean energy facility
The project, slated for completion in 2027, is expected provide uninterrupted clean power using massive batteries.
Tingshu Wang/ReutersAnalysis: Why Dubai is getting many ‘likes’
The UAE is positioning itself as a global hub for content creators, carving out a spot in the $250-billion global creator economy.
Qatar presents final draft of Gaza truce deal after a ‘breakthrough’
Talks set to resume in Doha on Tuesday reportedly include the Middle East envoys for the incoming and outgoing US presidents.
Iran resumes nuclear talks in Geneva
The meeting followed European criticism that Tehran is growing its stockpile of highly enriched uranium to “unprecedented levels.”
Dubai developer DAMAC tokenizes $1 billion in real-world assets
It’s the latest nod to the incoming Trump administration, just days after DAMAC’s CEO announced plans to invest in US data centers alongside the president-elect.
africa
Phill Magakoe/AFP via Getty
Rémi Kahane/GlobalHort/Flickr
Mozambique inaugurates new president as unrest grows
Daniel Chapo’s victory in a vote international observers said was beset by irregularities raises questions over his legitimacy.
Phill Magakoe/AFP via GettyFewer Africans find their food nutritious, research finds
The fall in perception of nutritious eating coincided with double digit inflation in several African countries in 2023.
Rémi Kahane/GlobalHort/FlickrAnalysis: The risk of outsourcing Africa’s ambition
Africa must not “outsource its ambition” to external powers, the former Liberian Minister of Public Works W. Gyude Moore argues in a new Semafor column.
Ghana fire devastates garment traders
Accra’s Kantamanto Market receives around 15 million used clothes from the Global North every week.
British consumer goods firm Reckitt makes long-term bet on Nigeria
The company’s plans buck a trend in which consumer goods giants have scaled down or shuttered their operations in Africa’s most populous country.
African startup funding slows
Startup fundraising fell by a quarter in Africa to $2.2 billion in 2024, marking a second successive year of reduced investment.
media
Tony Webster/Wikimedia Commons
The Washington Post’s traffic tanks
Over the last four years, web traffic has cratered, according to internal data shared with Semafor in recent weeks.
Tony Webster/Wikimedia CommonsChuck Todd to exit NBC
He has quietly been meeting with Washington media organizations about his post NBC-future.
‘This American Life’ faces rare staff cuts
Host Ira Glass has quietly discussed the likely cuts with the show’s top leadership.
Ashlee Vance launches media startup Core Memory
The company will produce high-end documentaries along with the usual “digital” products.
Former Reuters editor wrote confidential Pulitzer report
Stephen Adler’s report on the Pulitzer Board’s deliberations is at the heart of a lawsuit from Donald Trump.
security
Ramadan Abed/Reuters
Flickr
L. G. Images/Flickr
Israel-Hamas ceasefire breakthrough may be imminent
Local and international media reported Wednesday that progress in talks between Israel and Hamas suggested a deal to end the war in Gaza was close at hand.
Ramadan Abed/ReutersUS Treasury says China-backed hackers breached its systems
Beijing said the claims were “groundless” and that it “has always opposed all forms of hacker attacks”.
FlickrChina unveils cutting-edge aerial and maritime military equipment
The new technology includes advanced fighter jets and a new amphibious assault ship.
L. G. Images/FlickrAD