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Intelligence for the New World Economy
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Media
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
The World at a Glance
Updated 6:45pm EDT
1
Anthropic CEO Dario Amodei urged firms to slow the pace of AI development, as fears of rogue AI broke into the mainstream.
2Saudi Arabia shut down its vital East-West pipeline after drone attacks, intensifying the pressure on Gulf energy exports.
3Iran and the UAE held their highest-level meeting since the start of the Iran war at the BRICS summit.
4Opposition to US tariffs formed a point of consensus at the BRICS summit as Indian Prime Minister Narendra Modi touted the bloc’s “coming of age.”
5Russia’s new jet-powered drones are evading Ukrainian air defenses at a higher rate, as the US pressured Kyiv to halt attacks on Russian refineries.
6President Donald Trump said that the US should have the world’s lowest interest rates, piling pressure on the Fed days before its rate-setting meeting.
How the AI apocalypse story escaped containment
Sensational headlines are overwhelming a serious conversation in Silicon Valley.
Disagreements reemerge in bipartisan AI safety talks
Disagreements over how far to go on AI safety legislation portend a rocky road ahead for bipartisan Senate talks on a bill that remains the most likely vehicle for action this year.
View / We have nothing to fear but AI fear itself
Blindly believing advocates who say AI could kill us means missing some real risks, like economic or societal destabilization as AI transforms how people work and communicate.
The ‘Switzerland’ of AI: Saudi Arabia’s big AI bet
HUMAIN CEO Tareq Amin says the Kingdom plans to transform its economy and become a global AI leader.
Republicans’ midterm promise is more populism, and more cash
Can Donald Trump’s party have its populist economic promises and big donors too? So far, it looks that way.
Dems sharpen Fetterman criticism after RNC appearance
Pennsylvania Democrats, including potential 2028 Senate candidates, are ramping up their criticism of Sen. John Fetterman after he appeared by video at the Republican midterm convention this week.
California Dem faces election turbulence
California Democratic Rep. Jimmy Gomez faces increasing turbulence heading into his general election, according to new polling shared first with Semafor showing him statistically tied with Democrat Angela Gonzales-Torres.
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Politics
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Brian Snyder/Reuters
BRICS highlights opposition to tariffs
Opposition to US tariffs formed a point of consensus among the otherwise divergent interests at the BRICS summit, as Indian Prime Minister Narendra Modi touted the bloc’s “coming of age.”
Sputnik/Alexander Kazakov via Reuters
Treasury yields soar to almost 5% on inflation fears
The increase in Treasury yields triggered a sell-off of Asian and Australian bonds.
Sam Wolfe/Reuters
BRICS leaders gather in India amid a reordering of global alliances
The talks in Delhi — also set to be attended by China’s leader — point to India’s attempt to balance ties with global powers.
California Dem faces election turbulence
California Democratic Rep. Jimmy Gomez faces increasing turbulence heading into his general election, according to new polling shared first with Semafor showing him statistically tied with Democrat Angela Gonzales-Torres.
NCAA chief: College sports bill means less ‘money on lawyers,’ more on athletics
Charlie Baker, the former Republican governor now overseeing college sports, talked to Semafor about the unique legislative moment he’s in.
Dems sharpen Fetterman criticism after RNC appearance
Pennsylvania Democrats, including potential 2028 Senate candidates, are ramping up their criticism of Sen. John Fetterman after he appeared by video at the Republican midterm convention this week.
Disagreements reemerge in bipartisan AI safety talks
Disagreements over how far to go on AI safety legislation portend a rocky road ahead for bipartisan Senate talks on a bill that remains the most likely vehicle for action this year.
Republicans’ midterm promise is more populism, and more cash
Can Donald Trump’s party have its populist economic promises and big donors too? So far, it looks that way.
NATO allies foil Russian operation to cut undersea cables
A joint operation between the US, UK, and Norway thwarted a Russian operation to sabotage undersea cables with a “secret weapon” near the Arctic’s Svalbard archipelago.
El-Sayed hits Rogers on healthcare during Republican convention
The ad will run statewide as part of a $2.3 million campaign running this week, a person familiar with the buy told Semafor.
Business
Trump says US interest rates should be lowest in the world
Trump’s call piles pressure on Federal Reserve Chair Kevin Warsh days before the bank is expected to raise rates amid an increasingly hawkish global outlook.
Evelyn Hockstein/Reuters
US inflation stayed hot in August, boosting odds of a rate hike
Elevated consumer prices, along with a stronger-than-expected jobs report this month, has traders of the Fed funds future rate betting on a rate hike next week.
Treasury yields soar to almost 5% on inflation fears
The increase in Treasury yields triggered a sell-off of Asian and Australian bonds.
How the billionaire Bayeux Tapestry backer gets ‘impact per dollar’
WorldQuant’s Igor Tulchinsky finds inspiration in the ‘very, very old data set’ now on display in the British Museum.
The logic behind Scott Kirby’s long-odds bet on a United Airlines deal
The gambler-turned-CEO is making the case for consolidation while trying to build a brand that passengers love.
Technology
How the AI apocalypse story escaped containment
Sensational headlines are overwhelming a serious conversation in Silicon Valley.
Evelyn Hockstein/Reuters
UMG and voice AI giant ElevenLabs launch AI-powered music platform
These licensing agreements are not only a way to shift AI music companies from the targets of lawsuits to paying customers for music, but also a bet that allowing fans to play with the tech may demystify it.
Courtesy of Universal Music Group
AI agents hate CAPTCHA, too
An Anthropic cybersecurity report found that a Completely Automated Public Turing test to tell Computers and Humans Apart stumped a bot.
Silicon Valley-focused films take over Hollywood
Four movies about AI and Silicon Valley will compete this fall for theater goer dollars.
We have nothing to fear but AI fear itself
Blindly believing advocates who say AI could kill us means missing some real risks, like economic or societal destabilization as AI transforms how people work and communicate.
Chipmaker says data centers should report energy waste
Onsemi, which powers chips that help reduce heat generated from data centers, wants governments to push for more energy disclosures.
Energy
Trump blames Kyiv for diesel shortage
US President Donald Trump on Sunday called on Ukraine to stop striking Russian refineries, after Kyiv struck several over the weekend, attacks that he said were increasing the price of diesel and “hurting the world.”
Anatolii Stepanov/Reuters
Iran and the UAE meet in New Delhi
Iran and the UAE held their highest-level meeting since the start of the Iran war at the BRICS summit, where the two countries found a rare space for direct diplomacy.
Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Iranian President Masoud Pezeshkian. Iran’s Presidency/WANA (West Asia News Agency)/Handout via Reuters
Saudi pipeline shut after drone attacks
Saudi Arabia shut down its vital East-West pipeline after multiple drone attacks, intensifying the pressure on Gulf energy exports.
European Union/Copernicus Sentinel-3/Handout via Reuters
Gulf
Iran and the UAE meet in New Delhi
Iran and the UAE held their highest-level meeting since the start of the Iran war at the BRICS summit, where the two countries found a rare space for direct diplomacy.
Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Iranian President Masoud Pezeshkian. Iran’s Presidency/WANA (West Asia News Agency)/Handout via Reuters
Saudi pipeline shut after drone attacks
Saudi Arabia shut down its vital East-West pipeline after multiple drone attacks, intensifying the pressure on Gulf energy exports.
Everyone expects two AI blocs. The Gulf is betting on both
Riyadh is building its AI infrastructure with American technology while keeping ties to Chinese firms.
The Abu Dhabi Investment Authority ups hedge fund stakes
In its 2025 review, the Gulf’s largest sovereign wealth fund increased its private equity investments target to up to one-fifth of the fund, from 12%–17% a year earlier.
Anthropic flags UAE-linked misuse of AI targeting the Muslim Brotherhood
The operation used around 300 fake social-media accounts and compiled files on European lawmakers, journalists, and UN officials.
China
BRICS highlights opposition to tariffs
Opposition to US tariffs formed a point of consensus among the otherwise divergent interests at the BRICS summit, as Indian Prime Minister Narendra Modi touted the bloc’s “coming of age.”
Sputnik/Alexander Kazakov via Reuters
Chip competition heats up for Nvidia
A Chinese chip firm surged 180% in its stock-market debut, spotlighting the growing list of challengers to Nvidia’s dominance.
Go Nakamura/File Photo/Reuters
Chinese AI startup Moonshot reportedly eyes Hong Kong, Shanghai dual-listing
The dual-listing reflects both the lab’s need for cash as well as concerns over a congested IPO pipeline in Hong Kong.
Dado Ruvic/Reuters
Africa
Africa’s private credit market triples to $5.6B
Despite recent growth, African private credit represents just 0.3% of the $1.8 trillion global private credit market, according to a new Moody’s report.
Thomas Mukoya/Reuters
Dangote Refinery braced for IPO
The IPO is set to be the largest debut on any African stock exchange.
Sodiq Adelakun/File Photo/Reuters
US lends $100M to telecoms firm Africell
The deal will help “American and allied suppliers” develop infrastructure to counter China’s Huawei, Reuters reported.
Investors push for more private capital in Nigerian healthcare
Nigeria’s healthcare spending is projected to exceed $50 billion by 2030.
South Africa’s GDP shrank in Q2 2026
The impact of the Iran war ended an 18-month period of growth in Africa’s biggest economy.
Dangote faces Kenya refinery hurdles
It is unclear where the planned refinery in Lamu, which Africa’s richest man aims to complete by 2030, will secure its feedstock from.
Security
Trump blames Kyiv for diesel shortage
US President Donald Trump on Sunday called on Ukraine to stop striking Russian refineries, after Kyiv struck several over the weekend, attacks that he said were increasing the price of diesel and “hurting the world.”
Anatolii Stepanov/Reuters
Israel blows up tunnels operated by Hezbollah
Israeli authorities have refused to withdraw from southern Lebanon, citing Hezbollah’s refusal to give up arms as part of the US-brokered truce.
Reuters
Experts warn of new terrorism threats from AI, drones
25 years after the Sept. 11 attacks, Western societies face resurgent threats from advanced technologies, experts said
Kim Hong-ji/Reuters
Media
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Brian Snyder/Reuters
Fertile ground
Flagship’s lead writer Tom Chivers says goodbye after four years.
Crooked Media’s nonprofit launches new political creator drive
The nonprofit arm of Pod Save America’s audio empire is hoping to lure younger voters back to the Democratic Party.
YouTube cracks down on ‘ghost creators’
The enforcement action targeted accounts named in Semafor’s report earlier this week.
Paid actors, AI writing: How a new kind of video business cashed in on America’s divided politics
‘Ghost creators’ are reaching millions of viewers with nearly identical, sensationalized videos that take aim at Democrats.
CEO Signal
How the billionaire Bayeux Tapestry backer gets ‘impact per dollar’
WorldQuant’s Igor Tulchinsky finds inspiration in the ‘very, very old data set’ now on display in the British Museum.
The logic behind Scott Kirby’s long-odds bet on a United Airlines deal
The gambler-turned-CEO is making the case for consolidation while trying to build a brand that passengers love.
How a ‘China-for-China’ strategy rebooted Logitech
CEO Hanneke Faber says competing in China is critical to winning in the rest of the world.
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