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Intelligence for the New World Economy
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The World at a Glance
Updated 7:51am EDT
1
Ukrainian President Volodymyr Zelenskyy proposed face-to-face talks with President Vladimir Putin as Russia’s offensive stalls.
2Anthropic called for a slowdown in AI development over safety concerns, as models become increasingly capable of developing their own successors.
3Chinese leader Xi Jinping is heading to North Korea next week, amid Pyongyang’s push to strengthen ties with Moscow.
4US oil reserves are at their lowest level since 2004 as the impacts of the Iran war pile up, but countries are adapting.
5US chip stocks tumbled on Thursday as fresh doubts surfaced over the sustainability of the AI spending boom.
6Chinese AI phenom DeepSeek is closing in on a $7.4 billion funding round, in one of the country’s largest startup raises.
Chip stocks fall after extended rally
The selloff, which hit firms like Broadcom and Micron Technology, comes after a historic rally for semiconductor stocks.
Brittany Hosea-Small/ReutersGOP pushes back on Trump, votes to stop Iran war
A vote seeking to block further strikes was the latest sign of widening intra-party rifts over Trump’s war.
Evan Vucci/File Photo/ReutersSenate Republican defections pile up on Trump priorities
The Senate floor is showcasing deep Republican dissatisfaction with President Donald Trump’s White House ballroom project and his paused “anti-weaponization” fund.
Elizabeth Frantz/ReutersDeepSeek nears $7B haul in first raise
Tech giant Tencent and battery pioneer CATL are reportedly among the investors in the maiden fundraise.
Florence Lo/ReutersHezbollah rejects Israel ceasefire
Israel pounded southern Lebanon with strikes just before the truce took effect.
Stringer/ReutersCountries adapt to Iran energy shock
The Iran war has the largest supply disruption in history.
Adrees Latif/ReutersTrump directs nearly $700M toward coal production
The president is using Cold War-era authorities to sink hundreds of millions of dollars into US-mined coal.
Jonathan Ernst/Reuters
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Politics
Stoyan Nenov/Reuters
Kylie Cooper/Reuters 
Kylie Cooper/Reuters
Immigration funding passes Senate, surveillance bill blocked
Senate Republicans passed their $70 billion funding bill for Trump’s immigration enforcement agencies shortly before the sun rose on Friday.
Stoyan Nenov/ReutersTrump pitches farmers in Wisconsin
The president last appeared in Wisconsin during the 2024 campaign.
Kylie Cooper/Reuters Democrats grapple with latest Platner hits
The New York Times reported that a former girlfriend said Platner had long known the skull tattoo on his chest was a Nazi image, and that he left marks on her.
Kylie Cooper/Reuters Democrats plan to investigate Trump through corporate America
The party is notably united, and foreign dealmaking won’t be spared. They just have to win the House first.
Washington weighs new bipartisan AI proposal
Perhaps the most controversial provision would preempt state laws governing model development for three years.
Trump directs nearly $700M toward coal production
The president is using Cold War-era authorities to sink hundreds of millions of dollars into US-mined coal.
Senate Republican defections pile up on Trump priorities
The Senate floor is showcasing deep Republican dissatisfaction with President Donald Trump’s White House ballroom project and his paused “anti-weaponization” fund.
House Republicans struggle to win promotions
Several lost Republican primaries this cycle.
Trump to nominate Blanche as attorney general
Todd Blanche had held the job in an acting capacity since Pam Bondi’s departure.
AI lobbying intensifies around unlikely deal
OpenAI CEO Sam Altman hit Capitol Hill for high-profile bipartisan meetings amid House movement, but legislation’s odds remain long.
Trump makes new play for tariffs
The Trump administration is floating tariffs of up to 12.5% on some 60 countries and the EU.
Business
Courtesy of Smith & Nephew/Graph Massara/Semafor
Deepak Nath applies pressure at Smith and Nephew
The medtech CEO is standing by his company’s portfolio strategy despite calls to break it up.
Courtesy of Smith & Nephew/Graph Massara/SemaforDeepSeek nears $7B haul in first raise
Tech giant Tencent and battery pioneer CATL are reportedly among the investors in the maiden fundraise.
Chip stocks fall after extended rally
The selloff, which hit firms like Broadcom and Micron Technology, comes after a historic rally for semiconductor stocks.
Countries adapt to Iran energy shock
The Iran war has the largest supply disruption in history.
Hyperscalers are strapped for cash
After averaging $14 billion per quarter in buybacks over the past five years, Alphabet didn’t buy back a single share in the first quarter.
Technology
Anthropic CEO Dario Amodei. Denis Balibouse/Reuters.
Rogan Ward/Reuters
Anthropic calls for AI development slowdown to ensure safety
Anthropic’s CEO said that its models were increasingly capable of autonomously designing and developing their own successors.
Anthropic CEO Dario Amodei. Denis Balibouse/Reuters.Nations race to protect undersea cables
Marine cables carry more than 95% of the world’s intercontinental telecommunications data and ever more electricity.
Rogan Ward/ReutersData center energy challenges mount
Unorthodox and aggressive solutions are emerging amid AI boom.
DeepSeek nears $7B haul in first raise
Tech giant Tencent and battery pioneer CATL are reportedly among the investors in the maiden fundraise.
Chip stocks fall after extended rally
The selloff, which hit firms like Broadcom and Micron Technology, comes after a historic rally for semiconductor stocks.
Washington weighs new bipartisan AI proposal
Perhaps the most controversial provision would preempt state laws governing model development for three years.
EnergyRogan Ward/Reuters 
Shelby Tauber/ReutersAdrees Latif/Reuters
Nations race to protect undersea cables
Marine cables carry more than 95% of the world’s intercontinental telecommunications data and ever more electricity.
Rogan Ward/ReutersData center energy challenges mount
Unorthodox and aggressive solutions are emerging amid AI boom.
Shelby Tauber/ReutersCountries adapt to Iran energy shock
The Iran war has the largest supply disruption in history.
Adrees Latif/ReutersGulfAdrees Latif/Reuters
Countries adapt to Iran energy shock
The Iran war has the largest supply disruption in history.
Adrees Latif/ReutersGulf executives reckon with economic consequences of Iran war
Most economic indicators still don’t reflect the extent of the damage the region has suffered, but they do point to weaker confidence across much of the Gulf.
Saudi economy shows resilience even as war softens growth
Higher oil prices are offsetting lower export volumes, but overall growth will still likely fall to around 2% this year.
State Street’s Gulf expansion adds Oman
Muscat has in recent years sought to develop its capital markets and attract foreign firms.
UAE starts taxing road tolls and parking fees
The 5% value-added tax adds another income stream for the government
China
KCNA via Reuters.
Florence Lo/Reuters 
Dado Ruvic/Reuters
Chinese leader Xi Jinping plans North Korea visit
Xi aims to court the pariah state’s dictator, Kim Jong-un, who has been strengthening ties with Moscow while tightening his own grip on power.
KCNA via Reuters.DeepSeek nears $7B haul in first raise
Tech giant Tencent and battery pioneer CATL are reportedly among the investors in the maiden fundraise.
Florence Lo/ReutersIntelligence alliance warns of China’s spy recruiting efforts
The global Five Eyes intelligence alliance warned that China was using LinkedIn and other social media platforms to recruit spies.
Dado Ruvic/ReutersAfrica
Thomas Mukoya/Reuters
Miners in South Africa. Oupa Nkosi/Reuters
DR Congo growth drives mobile infrastructure spending
Data use and mining growth are driving demand for new coverage and capacity in one of Africa’s largest underdeveloped mobile markets.
Thomas Mukoya/ReutersAfrica’s leverage with China is growing
Beijing’s dependence on critical minerals is creating bargaining power for African governments — but debt pressures threaten to squander it.
Miners in South Africa. Oupa Nkosi/ReutersRwanda wins Basketball Africa League Championship
Basketball, which for years has languished in football’s shadow, has gained a foothold on the continent since the NBA-backed BAL was founded in 2019.
Nigeria’s pension pot balloons 31%
The jump came after assets invested in domestic equities more than doubled in value, adding nearly $3 billion to the pool.
South Africa picks Ramaphosa critic for inquiry chair
The inquiry will assess whether President Ramaphosa should face impeachment, following a scandal over money at his game farm.
Barrick Mining weighs London share listing for Africa assets
The move comes as the gold mining giant seeks to move its operations from what it sees as risky regions.
Security
Norwegian Prime Minister Jonas Støre and Ukrainian President Volodymyr Zelenskyy in February. Alina Smutko/Reuters
Quetzalli Nicte-Ha/Reuters
Israeli Military/Handout via Reuters
Norway, citing ‘crazy world’, reconsiders EU membership
Norway is reconsidering joining the EU, the country’s foreign minister told the Financial Times.
Norwegian Prime Minister Jonas Støre and Ukrainian President Volodymyr Zelenskyy in February. Alina Smutko/ReutersSheinbaum decries US ‘interference’ in Mexico’s politics
Mexico’s president delivered her harshest rebuke yet of US “interference,” following Washington’s indictment of 10 Mexican officials for alleged cartel ties.
Quetzalli Nicte-Ha/ReutersIsrael seizes Crusader castle in Lebanon
Israeli forces seized a 12th-century Crusader castle in southern Lebanon, as Israel intensifies its farthest incursion into the country in 26 years, despite a nominal ceasefire.
Israeli Military/Handout via ReutersMedia
Katie Jones/Variety/Penske Media via Getty Images
New York Public Radio’s new boss reorganizes the network
In her first four months on the job, Christy Tanner has swiftly eliminated many of NYPR’s seniormost figures.
Katie Jones/Variety/Penske Media via Getty ImagesBret Baier on golfing with Trump, his 2028 predictions, and making the case for civility
Fox News’ Special Report host Bret Baier joins Mixed Signals to talk about what it’s like to sit at the center of American political media.
The ‘completely new’ ‘60 Minutes’
Nick Bilton’s hire signals that Paramount CEO David Ellison and editor-in-chief Bari Weiss’ overhaul of CBS News will be radical and total.
Paramount appears to sway DOJ staff on Warner Bros. takeover
US antitrust regulators appear to approve Paramount’s $110 billion studio deal after a two-hour meeting at the Justice Department Tuesday, people familiar with the matter said.
Thousands of journalists’ data exposed to dark web
More than half of the exposures contained personal information such as names, phone numbers, dates of birth, and addresses, per a new study from Proton.
CEO SignalCourtesy of Smith & Nephew/Graph Massara/Semafor 
Courtesy of Cisco/Joey Pfeifer/Semafor
Courtesy of Match Group/Joey Pfeifer/Semafor
Deepak Nath applies pressure at Smith and Nephew
The medtech CEO is standing by his company’s portfolio strategy despite calls to break it up.
Courtesy of Smith & Nephew/Graph Massara/SemaforHow Cisco’s Chuck Robbins gets his team to ‘disagree and commit’
The longstanding CEO says a bad decision that you reverse is better than a delay.
Courtesy of Cisco/Joey Pfeifer/SemaforWhy an anxious AI romantic now drives Match Group’s dating apps
CEO Spencer Rascoff uses digital “personas” to help the Tinder owner understand its users.
Courtesy of Match Group/Joey Pfeifer/SemaforAD