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Intelligence for the New World Economy
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Politics
Bessent expands threat of secondary sanctions on Iran
The president is calling foreign leaders with a timeline.
US-Canada tariffs could stoke inflation ahead of midterms
Canada vowed to match 50% US tariffs after talks broke down over the weekend.
US-Canada tariffs could stoke inflation ahead of midterms
Canada vowed to match 50% US tariffs after talks broke down over the weekend.
View / South Africa’s ANC tells a fiscal fairy tale
View / The software buyout wave is upon us
The World at a Glance
Updated 2:14pm EDT
1
The US Treasury secretary threatened a wider range of secondary sanctions on countries that do business with Iran, but stopped short of imposing them.
2The US-Canada trade war could stoke inflation, piling pressure on the Trump administration ahead of November’s key midterm elections.
3ECB President Christine Lagarde reportedly told the World Economic Forum board she was “ready to serve,” amid questions over succession at the organization.
4Chinese tech giant Alibaba raised $10 billion in Hong Kong’s biggest-ever secondary share sale in order to keep up in the global AI race.
5Persistent tensions surrounding the Strait of Hormuz are reshaping the economies and trade routes of the Gulf and the wider world.
6Increasingly intertwined conflicts are raising the specter of a single, global war that could have “the potential to remake the world order,” analysts suggested.
Trump’s FDA pick faces MAHA resistance
Overton’s confirmation could set up a fight between the administration and part of President Donald Trump’s base.
Norman could add to Trump’s primary losing streak
Sen. Darline Graham campaigned with President Donald Trump in Myrtle Beach on Friday; Rep. Ralph Norman has criticized her debate performance.
More Americans are smoking pot, poll finds
Meanwhile, cigarette smoking has hit a record low.
Rivals cautiously optimistic as regulator tackles Diageo’s Kenya dominance
The Kenyan antitrust authority has imposed new conditions on Asahi Group’s planned acquisition of Diageo’s East African Breweries Limited.
Maine Democrat Jackson goes positive in statewide ad
In the ad, the Democratic Senate nominee appears alongside his mom.
‘I’m staring into the abyss’: How Toto Wolff drives Mercedes’ F1 team
The motorsports CEO says his ‘tough love’ style ensures the most compelling arguments prevail.
Vance takes his first economic punch in the 2028 primary
The vice president’s past skepticism about the dollar’s status as reserve currency has sparked a debate on the right.
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Politics
Bessent expands threat of secondary sanctions on Iran
The president is calling foreign leaders with a timeline.
Evelyn Hockstein/Reuters
ECB chief Christine Lagarde ‘ready to serve’ World Economic Forum
Lagarde has been seen as the frontrunner for the role since WEF’s longtime chair departed under a cloud.
Heiko Becker/Reuters
Experts warn of worldwide war amid increasingly intertwined conflicts
A new “world war” may not be as violent as the 20th century’s conflicts, one expert wrote in World Politics Review.
Gleb Garanich/Reuters
US warns of ‘economic D-Day’ against Iran
The US Treasury secretary will unveil a raft of measures against Tehran today.
US-Canada tariffs could stoke inflation ahead of midterms
Canada vowed to match 50% US tariffs after talks broke down over the weekend.
More Americans are smoking pot, poll finds
Meanwhile, cigarette smoking has hit a record low.
Trump’s FDA pick faces MAHA resistance
Overton’s confirmation could set up a fight between the administration and part of President Donald Trump’s base.
Norman could add to Trump’s primary losing streak
Sen. Darline Graham campaigned with President Donald Trump in Myrtle Beach on Friday; Rep. Ralph Norman has criticized her debate performance.
Maine Democrat Jackson goes positive in statewide ad
In the ad, the Democratic Senate nominee appears alongside his mom.
Bessent’s bond market move draws fire from investors
Investors and analysts poured scorn on US Treasury Secretary Scott Bessent’s doubling of long-term bond purchases, which provided temporary relief but faces structural economic headwinds that are driving yields higher.
US-Canada rift deepens over tariffs
US and Canadian officials traded blame after the two sides failed to reach a trade deal Friday, teeing up a damaging trade war that could threaten broad swaths of both economies.
Business
ECB chief Christine Lagarde ‘ready to serve’ World Economic Forum
Lagarde has been seen as the frontrunner for the role since WEF’s longtime chair departed under a cloud.
Heiko Becker/Reuters
Hormuz tensions are reshaping global trade routes
Fewer than 20 ships transited the Strait of Hormuz over the weekend, with little sign of US-Iran truce on the horizon.
US-Canada tariffs could stoke inflation ahead of midterms
Canada vowed to match 50% US tariffs after talks broke down over the weekend.
US-Canada rift deepens over tariffs
US and Canadian officials traded blame after the two sides failed to reach a trade deal Friday, teeing up a damaging trade war that could threaten broad swaths of both economies.
US bond markets on edge despite bond buyback expansion
The US Treasury secretary’s pledge to expand a bond buyback program in order to lower borrowing costs did little to quell market unease.
Technology
Alibaba raises $10 billion to keep up in the AI race
Investors worldwide fret that tech firms’ revenues are struggling to keep up with the AI spending spree.
Go Nakamura/Reuters
US firm to start building antidrone tech in the UAE
US-based defense firm Powerus is manufacturing drone interceptors in the UAE, as the Gulf looks for new ways to defend itself against Iranian attacks.
A Powerus drone interceptor. Courtesy of Powerus.
Nvidia says it’s raising some prices more than 15%
Nvidia warned of higher prices for servers containing its AI chips as soaring memory costs strain the AI buildout.
Chinese humanoid robot beats Bolt’s time
A Chinese humanoid robot ran the 100-meter dash nearly two-tenths of a second faster than world-record holder Usain Bolt at Beijing’s “Robot Olympics” on Saturday.
Waymo builds custom chip for robotaxi fleet
In a blog post Thursday, the Alphabet-owned company revealed that it designed a custom computer chip that quickly crunches raw data coming from a car’s cameras, lidar, and radar.
Stripe agrees to acquire OpenRouter for $8 billion
With a deal, OpenRouter’s business could be destined for commoditization, and that’s actually kind of the point.
Energy
Africa’s electricity access gap persists amid investment shortfall
While access to electricity has increased in the past decade, nearly 600 million people remain without power.
Siphiwe Sibeko/Reuters
Unmanned shutdown of South African coal plant could wipe $550 million off country’s GDP
The Secuda coal-to-liquids plant is woven into the nation’s fabric as both an economic powerhouse and environmental headache.
Siphiwe Sibeko/Reuters
Dangote offers East African countries a 30% stake in new refinery
The prospective 700,000 barrels-a-day oil site will cost the Dangote Group more than $15 billion to build.
Sodiq Adelakun/Reuters
Gulf
US firm to start building antidrone tech in the UAE
US-based defense firm Powerus is manufacturing drone interceptors in the UAE, as the Gulf looks for new ways to defend itself against Iranian attacks.
A Powerus drone interceptor. Courtesy of Powerus.
Saudi Arabia considering state-backed insurance program for ships
The plan would aim to provide cheaper cover for vessels transiting the Gulf or Red Sea as a way to keep trade flowing at a time of war.
UAE’s space industry expands with more private satellites
Abu Dhabi’s Orbitworks sold capacity to French space agency CNES, securing a useful endorsement.
Saudi Arabia renews diplomatic efforts with Iraq
The two countries are trying to move past a recent exchange of fire.
Saudi intensifies $13.3 billion buildout of indoor entertainment centers
The kingdom is starting with its underserved second-tier cities, which are often in areas that attract year-round tourism because of their cooler climate.
China
Alibaba raises $10 billion to keep up in the AI race
Investors worldwide fret that tech firms’ revenues are struggling to keep up with the AI spending spree.
Go Nakamura/Reuters
China prepares for ‘Economic D-Day’
China hosted Iran’s deputy foreign minister for talks last week related to the US-Iran war, Beijing announced Sunday, disclosing the previously unreported meeting one day before Washington is expected to unveil “the toughest sanctions in history” against Tehran.
Joyce Zhou/Reuters
Chinese humanoid robot beats Bolt’s time
A Chinese humanoid robot ran the 100-meter dash nearly two-tenths of a second faster than world-record holder Usain Bolt at Beijing’s “Robot Olympics” on Saturday.
Florence Lo/Reuters
Africa
Africa’s electricity access gap persists amid investment shortfall
While access to electricity has increased in the past decade, nearly 600 million people remain without power.
Siphiwe Sibeko/Reuters
Unmanned shutdown of South African coal plant could wipe $550 million off country’s GDP
The Secuda coal-to-liquids plant is woven into the nation’s fabric as both an economic powerhouse and environmental headache.
Siphiwe Sibeko/Reuters
Dangote offers East African countries a 30% stake in new refinery
The prospective 700,000 barrels-a-day oil site will cost the Dangote Group more than $15 billion to build.
Nigeria’s regulator calls for domestic stake in MTN-IHS deal
The ruling underscores Abuja’s push to deepen local ownership of pillars of Nigeria’s digital economy.
South Africa’s fiscal fairy tale
The African National Congress’ 2026 local government elections manifesto pledges free basic services to nearly 30 million people.
Rivals cautiously optimistic as regulator tackles Diageo’s Kenya dominance
The Kenyan antitrust authority has imposed new conditions on Asahi Group’s planned acquisition of Diageo’s East African Breweries Limited.
Security
Experts warn of worldwide war amid increasingly intertwined conflicts
A new “world war” may not be as violent as the 20th century’s conflicts, one expert wrote in World Politics Review.
Gleb Garanich/Reuters
Japanese cities vie to become second capital
Osaka, a leading contender, has even designated a talking cat mascot for the effort.
Issei Kato/Reuters
Trump’s efforts to reengage North Korea could be worthwhile, experts say
Trump’s overtures to Kim Jong Un could help achieve ‘incremental achievements,’ the conservative Cato Institute argued.
North Korea’s official Korean Central News Agency via Reuters
Media
New York Times tests out AI-generated search summaries
In recent weeks, the paper has quietly rolled out a new AI-powered search page for a small subset of visitors.
Kylie Cooper/Reuters
Mexico regulation proposal sparks censorship fears
Under the plan, officials would be able to determine whether news coverage was sufficiently true or balanced, with breaches potentially costing companies as much as 1% of their annual revenue.
China’s YouTube, Bilibili, plans global expansion, English-language site
The company is courting influencers to connect with “Gen Z Coded” users, and staffing up in cities around the world.
Tennis’ greatest battles — on the court and off
‘The Cruelest Game,’ by Matthew Futterman, details the unique psychological toll that professional tennis can take — particularly on its greatest stars.
MS NOW to launch membership program for ‘super fans’
The cable news network will roll out the program next month in an effort to grow its digital business and reach new audiences.
CEO Signal
‘I’m staring into the abyss’: How Toto Wolff drives Mercedes’ F1 team
The motorsports CEO says his ‘tough love’ style ensures the most compelling arguments prevail.
Courtesy of Mercedes-AMG PETRONAS F1 Team/Graph Massara/Semafor
Spencer Stuart’s CEO on trust and tension in the boardroom
Jordan Brugg says it’s becoming easier for executives to feel misaligned with their directors.
Courtesy of Spencer Stuart/Graph Massara/Semafor
‘It’s an unbundling’: ADP’s Maria Black on how AI is changing the workforce
The payroll processor sees technology disrupting low-value tasks but making human judgment more valuable.
Courtesy of ADP/Graph Massara/Semafor
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