The World at a Glance
Updated 6:57am EDT
1
Significant US tariffs on India, imposed as punishment for New Delhi’s purchases of Russian oil, came into effect.
2The European Union hit back at US threats of renewed tariffs over Brussels’ digital regulations.
3Russian forces made territorial gains against Ukraine, lending Moscow new bargaining chips in flagging peace talks.
4Vietnam accelerated island-building efforts in contested waters of the South China Sea, drawing a rebuke from Beijing.
5Brazil’s Supreme Court placed ex-President Jair Bolsonaro under 24-hour surveillance ahead of his trial on charges of orchestrating a coup.
6US pharma giant Eli Lilly said its anti-obesity pill hit weight loss targets in its recent trial, boosting its efforts to compete in the expanding market.
Musk’s Starlink, T-Mobile eye EchoStar’s spectrum after AT&T deal
AT&T scooped up the lion’s share of EchoStar’s licenses for $23 billion Tuesday, but Charlie Ergen still has valuable airwaves to bargain with.
SpaceX/HandoutBotswana declares public health emergency
The country’s health care system has been impacted by an economic downturn and US President Donald Trump’s cuts to aid.
Botswana President Duma Boko. Tshekiso Tebalo/Xinhua via Getty Images.PIF’s AI unit HUMAIN has already sold out its data center capacity
HUMAIN is building new data centers and planning to raise money to fuel investments in AI startups.
Courtesy of HUMAINTrump’s $2 billion DC request confounds Congress
The money could theoretically get attached to next month’s government funding bill.
A Trump banner on the Department of Labor building in DC. Brian Snyder/Reuters AD
Vance meets with Indiana lawmakers
It’s latest step in the White House’s push to add more safe red seats in states governed by Republicans.
Jonathan Ernst/ReutersFed firing tests Republicans’ independence from Trump
The president’s open attempt to grab a majority on the central bank is perhaps the final challenge to his party’s willingness to say no.
Jonathan Ernst/ReutersTrump seeks to oust Fed governor
The move sets the stage for a landmark battle over the central bank’s independence.
Jim Urquhart/ReutersPolitics
Jonathan Ernst/ReutersA Trump banner on the Department of Labor building in DC. Brian Snyder/Reuters Jonathan Ernst/Reuters
GOP voters favor third Trump term
At the same time, Republicans were less likely than Democrats or independents to think that Trump would try to run again.
Jonathan Ernst/ReutersTrump’s $2 billion DC request confounds Congress
The money could theoretically get attached to next month’s government funding bill.
A Trump banner on the Department of Labor building in DC. Brian Snyder/Reuters Vance meets with Indiana lawmakers
It’s latest step in the White House’s push to add more safe red seats in states governed by Republicans.
Jonathan Ernst/ReutersAfter Intel deal, White House looks to defense companies
Commerce Secretary Howard Lutnick said on CNBC that the Pentagon is considering taking a stake in defense contractors.
Fed firing tests Republicans’ independence from Trump
The president’s open attempt to grab a majority on the central bank is perhaps the final challenge to his party’s willingness to say no.
Cantwell blitzes House’s sports bill
The House is nearing a floor vote on name, image, and likeness legislation.
Lawmakers eye vehicle for Syria sanctions relief
Sen. Jeanne Shaheen, D-N.H., and Rep. Joe Wilson, R-S.C., met with Syrian President Ahmad al-Sharaa on a Middle East swing.
Trump seeks to oust Fed governor
The move sets the stage for a landmark battle over the central bank’s independence.
Why Republicans keep making anonymous liberals a problem for Democrats
From Sydney Sweeney to the Virginia gubernatorial race, the party sees an opportunity.
US arrests Kilmar Ábrego García and plans to redeport him
The Salvadoran citizen was recently released from custody in Tennessee while awaiting trial on human trafficking charges.
Trump gets into DC funding drama
The district is still waiting for action on the $1 billion cut from its budget by Congress this year.
Business
Kevin Lamarque/File Photo/Reuters
New US tariffs on India come into effect
The 25% levy is intended as punishment for India’s purchases of Russian oil, and sits atop an existing 25% duty.
Kevin Lamarque/File Photo/ReutersMusk’s Starlink, T-Mobile eye EchoStar’s spectrum after AT&T deal
AT&T scooped up the lion’s share of EchoStar’s licenses for $23 billion Tuesday, but Charlie Ergen still has valuable airwaves to bargain with.
FCC Chair Carr takes his Comcast fight to the ballpark
Brendan Carr backed the Yankees’ YES Network in its carriage dispute with Comcast, and threw the first pitch at Yankee Stadium as the standoff deepens.
An Intel stake is bad for shareholders
The government wants to take more stakes in other companies, potentially changing how boards think about their relationship with shareholders.
US universities borrowing more to make up for Trump’s funding cuts
American universities are taking advantage of their tax-free status, while they still have it.
Technology
Tingshu Wang/File Photo/Reuters
To get AI right, it should be a right
Chris Lehane likens AI to electricity, says governments should play a role in ensuring it is safe and accessible.
Musk-owned firms sue Apple, OpenAI
The lawsuit alleges Apple and OpenAI conspired to hurt competitors in the artificial intelligence field.
Tingshu Wang/File Photo/ReutersThe new Hollywood: Runway’s AI models edge closer to simulating reality
Its models were among the first to generate synthetic video for movies like “Everything Everywhere All at Once.” Now they can mirror the laws of physics.
Polling gets an AI assist
OpenResearch tested whether people would give better and longer responses to AI chatbots. They will.
AI fails to bring businesses returns, report says
The MIT research found that, of more than 300 organizations analyzed, 95% saw zero financial returns for their AI efforts.
Meta freezes hiring for AI teams
The freeze is an apparent setback after months of spending huge sums on big-name hires.
Net Zero
Tom Little/File Photo/Reuters
Abdel Majid Bziouat/AFP via Getty Images
Toby Melville/File Photo/Reuters
Shares of wind farm developer Ørsted hit a record low
The drop in shares came as the Trump administration blocked a nearly-completed project off the New England coast.
Tom Little/File Photo/ReutersAfrican solar panel imports from China hit record high
The last 12 months saw a 60% spike in imports across the continent, according to a new analysis from the research group Ember.
Abdel Majid Bziouat/AFP via Getty ImagesGlobal investments in renewable energy reach half-year record
In the US, however, investments fell 36% compared to the second half of 2024 as the Trump administration raised numerous new barriers to construction.
Toby Melville/File Photo/ReutersGulf
Courtesy of Emirates
Emirates makes caviar a competitive advantage among Gulf airlines
Emirates faces competition not just from Gulf rivals but also from private jets, which offer privacy and the hassle-free convenience of small airfields.
Courtesy of EmiratesRecord-breaking falcon sells for $320k in Saudi
Falcons and other birds of prey are coveted in the Gulf, and like other animals, are considered cultural heritage and prized assets.
Abu Dhabi’s BlueFive Capital partners with Chinese PE firm
The two firms have formed a new fund to invest in companies working in advanced manufacturing, consumer goods, and green energy.
Riyadh Metro reaches 100 million riders
The world’s longest driverless train network has defied initial doubts that it would be a passing fad.
Abu Dhabi asset manager Lunate nabs hedge fund stake
The deal with Brevan Howard also includes $2 billion for a new platform.
Africa
Kenyan activist Boniface Mwangi. Simon Maina/AFP via Getty Images.Botswana President Duma Boko. Tshekiso Tebalo/Xinhua via Getty Images.
Kenyan activist Bonface Mwangi mounts presidency bid
Mwangi has been a leading voice in youth-led protests against the government over the past two years.
Kenyan activist Boniface Mwangi. Simon Maina/AFP via Getty Images.Botswana declares public health emergency
The country’s health care system has been impacted by an economic downturn and US President Donald Trump’s cuts to aid.
Botswana President Duma Boko. Tshekiso Tebalo/Xinhua via Getty Images.Ethio Telecom projects major growth
Ethiopia’s state-owned Ethio Telecom said full-year revenue was projected to increase by 45.5% in the year to June 2026.
Burkina Faso shuts down Gates-backed malaria research hub
Anti-Western activists had campaigned for the program’s closure.
London is building a pipeline for more African IPOs
More than 100 African companies have raised over £17 billion on the London Stock Exchange in the 10 years to 2020.
Nigeria’s President Tinubu arrives in Brazil to strike new deals
Deals are expected to be signed for direct flights between the two countries and to promote agribusiness.
Security
Press service of the State Emergency Service of Ukraine in Zakarpattia region/Handout via Reuters.
Roman Baluk/Reuters
Dawoud Abu Alkas/Reuters
Russia pummels Ukraine as ceasefire talks appear to stall again
There are still no details on a possible summit between Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin.
Press service of the State Emergency Service of Ukraine in Zakarpattia region/Handout via Reuters.World leaders haggle over Ukraine peace proposals
A plan to offer Kyiv a NATO-like security guarantee without actual membership gained support, though Washington appears reluctant to make such explicit promises.
Roman Baluk/ReutersIsrael begins Gaza City offensive
The campaign opened even as efforts to secure a 60-day truce in the conflict intensified.
Dawoud Abu Alkas/ReutersMedia
Javier Rojas/PI via ZUMA Press Wire
FCC Chair Carr takes his Comcast fight to the ballpark
Brendan Carr backed the Yankees’ YES Network in its carriage dispute with Comcast, and threw the first pitch at Yankee Stadium as the standoff deepens.
Javier Rojas/PI via ZUMA Press WireChips on the table
In big American media, the currencies most journalists trade in have been access and information, not cash.
Vanity Fair’s new cruise director will have to choose between his reporters and his friends
Mark Guiducci has charisma, youth — and far less editorial experience than his recent predecessors.
YouTube’s Channel 5 vs. The New York Times
Andrew Callaghan’s Hunter Biden interview has gotten a lot of attention.
The left gets a new publication
The Argument aims to articulate what the left is for, not just against.
CEO Signal
Courtesy Twilio
Jemal Countess/Getty Images for Fortune Media
Jemal Countess/Getty Images for TIME
Twilio’s CEO on making AI profitable to set up ‘escape velocity’
Companies have plenty of data on their customers, says Khozema Shipchandler, but need to be better at contextualizing it.
Courtesy TwilioZig Serafin on using AI to make companies more human
The Qualtrics CEO says leaders should ‘live the example’ if they want their teams to adopt the technology.
Jemal Countess/Getty Images for Fortune MediaHow Circle’s Jeremy Allaire swayed stablecoin doubters
The crypto champion sees a collision coming between the internet and the global financial system.
Jemal Countess/Getty Images for TIMEAD