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Iran war creates opening for closer Europe-Gulf ties
View / Trump targeted Massie, but his own politics ended his career
The World at a Glance
Updated 8:29am EDT
1
China’s leader hosted Russia’s president, arguing that the countries offered ‘calm amid chaos,’ a veiled critique of US foreign policy.
2The fallout of the Iran war deepened as countries struggled to contain the impact of rising fuel and commodity prices.
3The WHO said it was ‘deeply concerned about the scale and speed’ of the Ebola outbreak in the DRC.
4Chinese EV maker Dongfeng announced a partnership with European car manufacturer Stellantis, which could see Chinese EVs made in France.
5US chip giant Nvidia committed $90 billion to AI deals, cementing its grip on the AI economy.
6The US is expected to indict former Cuban President Raúl Castro, an escalation of Washington’s campaign against the island nation.
China, Russia offer veiled US critique during Putin visit
China’s leader hosted Russia’s president, arguing that the countries offered “calm amid chaos.”
Maxim Shemetov/Pool/Reuters‘Of course not’: Rep. Waters expects Trump to dodge Democratic oversight
Even if Democrats take the House back, her party’s leaders are bracing for a wall of opposition, Waters suggested at a Semafor event.
Rep. Maxine Waters, D-Calif. Semafor.Senators propose overhaul of US-Tanzania relationship
A new bipartisan bill would impose sanctions and freeze assistance in response to the country’s political crisis.
Emmanuel Herman/ReutersWorker backlash over ‘flash bang’ grenades sank Boston Dynamics robot deal
Employees said they worried robots could be used in protest control, a characterization the company refuted.
Ludovic Marin/Pool/via ReutersBallroom security money hangs over GOP agenda
Republicans can afford to lose only three votes and still pass the legislation.
Trump executive order to stop short of requiring banks to collect citizenship information
Still, the president’s Tuesday order imposes significant new restrictions on immigrants’ access to the financial system.
Reuters/Evan VucciPutin to discuss long-delayed pipeline with Xi
Russian President Vladimir Putin’s visit to Beijing this week could clear a logjam for the construction of a long-delayed oil pipeline to China.
Alexander Manzyuk/ReutersAD
Politics
Semafor/Kris Tripplaar
Nathan Howard/Reuters
Hannah Beier/Reuters
Banks taking a closer look at citizenship is ‘common sense,’ US regulator says
A new executive order presents a “reasonable trade-off,” US Comptroller of the Currency Jonathan Gould said at Semafor’s Banking on the Future Forum.
Semafor/Kris TripplaarTrump targeted Massie, but his own politics ended his career
Before he became the president’s sharpest Republican critic in Congress, Massie was a libertarian scientist who hated government spending and the taxes that paid for it.
Nathan Howard/ReutersFour takeaways from a huge primary night
Rep. Thomas Massie’s defeat by the Trump machine claimed all the headlines, but other states brought key lessons.
Hannah Beier/ReutersTop Republican pumps brakes on prediction markets regulation
House Financial Services chair cautions against ‘jumping to a conclusion’ on congressional action.
‘Of course not’: Rep. Waters expects Trump to dodge Democratic oversight
Even if Democrats take the House back, her party’s leaders are bracing for a wall of opposition, Waters suggested at a Semafor event.
Senators propose overhaul of US-Tanzania relationship
A new bipartisan bill would impose sanctions and freeze assistance in response to the country’s political crisis.
Ballroom security money hangs over GOP agenda
Republicans can afford to lose only three votes and still pass the legislation.
Trump threatens ‘another big hit’ on Iran if talks fail
The US and Iran remain far apart on the terms of a potential peace deal, raising doubts about finding an off-ramp to the conflict during a strained ceasefire.
Trump sounds diplomatic note on Cuba
He told Semafor during a tour of the White House ballroom construction site that Cuba is “a failed nation” that “needs help” from the US.
Trump executive order to stop short of requiring banks to collect citizenship information
Still, the president’s Tuesday order imposes significant new restrictions on immigrants’ access to the financial system.
Republicans ‘saddened’ as Cornyn falls to an uneven Trump loyalty test
The president endorsed against the Texas incumbent, making his seat harder to hold and the party’s midterms pricier.
Business
Bryan Woolston/Reuters
Inflation hits US alcohol industry
The US alcohol industry, already struggling with falling demand, is being further hit by inflation.
Bryan Woolston/ReutersSpaceX prepares for pre-IPO Starship launch
SpaceX is set to debut its Starship V3 rocket on Thursday in a key test of both its technology and investor confidence.
Foreign governments dump US Treasurys amid Iran volatility
Data showed seven of the top 10 foreign holders of US government debt trimmed their holdings of US Treasurys in March.
Trump executive order to stop short of requiring banks to collect citizenship information
Still, the president’s Tuesday order imposes significant new restrictions on immigrants’ access to the financial system.
The digital casinos need pit bosses
Kalshi and Polymarket have either a massive insider-trading problem or the appearance of one.
Technology
A Monet painting at an auction in 2026. Benoit Tessier/Reuters.
Sarah Condon-USA TODAY via Imagn Images
Monet bait-and-switch sparks debate on art and AI
AI’s image-making abilities are good enough to fool almost anyone, an amateur painter told other artists.
A Monet painting at an auction in 2026. Benoit Tessier/Reuters.Stop talking to new college grads about AI
Frustration with AI is building for the Class of 2026, so here are some suggestions on what to discuss at commencement speeches instead.
Sarah Condon-USA TODAY via Imagn ImagesColossal Biosciences engineers synthetic eggs
The company is pitching the technology as a step toward one of its goals of resurrecting extinct dodo and moa birds.
Meta layoffs add to AI angst
The market may respond positively when tech companies cite AI for layoffs, but the pile-on is causing angst among the public.
Saudi theme park turns to Google for AI
Riyadh entertainment district Qiddiya will use Google Cloud’s data and AI products to monitor construction, visitor patterns, and real-time operations.
Saudi Aramco gets its first quantum computer
French startup Pasqal helped Aramco launch the computer, part of a broader push in the Gulf to use technology to squeeze more efficiency from oil and gas operations.
Energy
Amanda Perobelli/Reuters
Reuters
Iran war accelerates move away from fossil fuels
In a new energy market outlook projecting out to 2050, BNEF analysts forecast global oil demand will plateau in the early 2030s.
Amanda Perobelli/ReutersNew infrastructure projects seek to bypass Hormuz
The UAE said it is racing to complete a new pipeline by next year that will double its oil export capacity bypassing the waterway.
Analysts’ Iran crystal balls get murkier
The war in Iran is entering an unpredictable new phase where the risk to energy markets is growing.
ReutersGulf
Saudi theme park turns to Google for AI
Riyadh entertainment district Qiddiya will use Google Cloud’s data and AI products to monitor construction, visitor patterns, and real-time operations.
Saudi Aramco gets its first quantum computer
French startup Pasqal helped Aramco launch the computer, part of a broader push in the Gulf to use technology to squeeze more efficiency from oil and gas operations.
Iran war drives up Hajj pilgrimage costs
Fewer flights and disrupted supply routes are driving up prices ahead of Hajj, the pilgrimage which begins with its main rituals in Mecca.
Iran war creates opening for closer Europe-Gulf ties
Gulf countries would welcome closer defense, investment, and trade ties with Europe.
Porsche launches limited 911 Turbo S ‘Sadu Edition’
The German automaker is producing just 20 vehicles customized with Al Sadu patterns.
ChinaAlexander Manzyuk/Reuters 
Temilade Adelaja/Reuters
Putin to discuss long-delayed pipeline with Xi
Russian President Vladimir Putin’s visit to Beijing this week could clear a logjam for the construction of a long-delayed oil pipeline to China.
Alexander Manzyuk/ReutersChinese men are learning to spoil themselves
As more men live alone and delay marriage, they’re spending more on skincare, fragrances, fitness equipment, and other self-care luxuries.
Chinese EV firms race for new tech
Industry behemoths BYD and CATL are taking different approaches to cutting EV charging times, Wood Mackenzie analysts said.
Temilade Adelaja/ReutersAfrica
Adriano Machado/Reuters
Temilade Adelaja/Reuters
Nigeria’s president uses young technocrats to control economy
Nigeria’s septuagenarian president has appointed a new generation of policymakers but critics claim ethnic bias.
Adriano Machado/ReutersSolar minigrids in Nigeria could offer major jobs boost, report finds
Off-grid solar electricity is among the solutions the World Bank is backing to halve the continent’s energy gap.
Temilade Adelaja/ReutersSouth African grocer Pick n Pay raises nearly $300M
Pick n Pay sold a 12.5% stake in Boxer, which has seen its valuation surge since its IPO in 2024.
Kenya cuts fuel prices after deadly protests
Nairobi has been rocked by demonstrations, with four people killed and dozens injured.
Ebola hits central Africa, prompting race for vaccine
There are no treatments for the current Ebola strain, which has already killed 131 people.
Two prominent Republican Africa staffers leave Capitol Hill
Their exits leave an incoming Africa official with one less bridge to Capitol Hill at a fraught moment for US-Africa relations.
SecurityAlexander Manzyuk/Reuters 
Evan Vucci/Reuters
Putin to discuss long-delayed pipeline with Xi
Russian President Vladimir Putin’s visit to Beijing this week could clear a logjam for the construction of a long-delayed oil pipeline to China.
Alexander Manzyuk/ReutersPutin launches nuclear drills in projection of power
The show of force comes as Moscow suffers continued losses on the battlefield in its war against Ukraine.
Trump suspends planned Iran strikes
The US president said he was holding off attacks on Iran at the behest of Middle East allies.
Evan Vucci/ReutersMedia
New arts magazine Totei to focus on the ‘creative process’
The online magazine will publish content weekly, including profiles of artists and musicians, photo essays, reported features, and interviews.
Fortune chairman joined Trump interview
Editor-in-chief Alyson Shontell conducted the interview with the president.
Paramount seeks to calm California’s creatives — and a litigious attorney general
Paramount is racing to reassure Hollywood that its takeover of Warner Bros. Discovery, with its HBO streaming service, isn’t aimed at killing movie theaters.
CBS’ Tony Dokoupil to broadcast from Taiwan after failing to get China visa in time
It was a stumble in the network’s efforts to play a leading role in this week’s dominant global story.
Hollywood appears to avoid Cannes Film Festival
Only two American entrants are competing for the Palme d’Or, both relatively small and financed outside the US.
CEO Signal
Reckitt Benckiser/Handout via Reuters 
Why Allstate’s Tom Wilson thinks CEOs should create more jobs with AI
The insurance industry veteran says executives have an obligation to do hard things.
Reckitt’s Kris Licht on moving at ‘China speed’
The CEO behind Lysol and Durex ‘pivoted hard’ for a new era of TikTok-driven commerce.
Reckitt Benckiser/Handout via Reuters Dan Schulman’s plan to get Verizon back in the fight
“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.
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