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Intelligence for the New World Economy
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House Democratic campaign arm’s endorsements frustrate Latino colleagues
View / Abu Dhabi, and Gulf, turn focus to self-reliance
The World at a Glance
Updated 9:58am EDT
1
OPEC+ agreed to boost output in June to reassure buyers it is conducting business as usual after multiple setbacks.
2Venezuela’s oil exports reached their highest level since 2018, a surge that could have major downstream geopolitical consequences.
3Europe moved to widen its diplomatic circles, hosting a summit in traditionally Russian-allied Armenia that Canada’s PM also attended.
4Iran tightened domestic crackdown, prompting fears that any window for political liberalization in the country is closed.
5Egypt raised industrial gas prices as it looks to contain the fallout from the Iran war.
6Chinese humanoid robot maker Linkerbot sought a $6 billion valuation, as investors remain bullish about the fast-growing industry.
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.
Trump seeks to deflate Iran authorization push by telling Congress war is over
It’s a technical argument under the War Powers Act that’s designed to dissuade lawmakers who were getting interested in a debate.
Kevin Lamarque/ReutersHouse could soon follow Senate in banning lawmakers from prediction markets
The Senate earlier unanimously passed a ban on senators trading on prediction markets Thursday.
Kylie Cooper/Pool via Reuters Semafor launches Silicon Valley & The World
New initiative will connect the builders of transformative technologies with the global leaders shaping their consequences.
Sanders keeps shaping Senate candidacies in his mold
The Vermont Independent is going back to the stump for progressives in Minnesota and Michigan after a proxy win in Maine.
Ryan Murphy/ReutersBondholders took on Trump — and won again
Spirit Airlines’ failed government bailout shows the limits of Trump’s no-recourse business approach.
REUTERS/Marco BelloDemocratic senator urges Rubio not to end Ethiopia food aid
Jeanne Shaheen warned of a potential “humanitarian catastrophe” should US aid be reduced amid renewed tensions in the northern Tigray region.
US Secretary of State Marco Rubio. Ken Cedeno/Reuters.AD
Politics
David Crane/MediaNews Group/Los Angeles Daily News via Getty Images
Ken Cedeno/Reuters 
Ricardo Arduengo/Reuters
House Democratic campaign arm’s endorsements frustrate Latino colleagues
The Hispanic Caucus’ political arm pushed back against its endorsements in California and Pennsylvania in a statement to Semafor.
David Crane/MediaNews Group/Los Angeles Daily News via Getty ImagesRepublicans draft Iran war authorization
A group of Senate Republicans are working on an authorization of military force for Iran that they can move on if President Donald Trump reprises strikes.
Ken Cedeno/Reuters Spirit closure reflects airlines’ woes
The demise of American budget carrier Spirit Airlines reflects how the jet fuel crisis stemming from the Iran war is imperiling the global travel industry.
Ricardo Arduengo/ReutersKyiv grows its global security might
Ukraine is increasingly playing the role of global security provider — rather than recipient — as US allies question the extent of Washington’s security guarantees, experts said.
Trump says US to escort ‘neutral’ ships through the Strait of Hormuz
US President Donald Trump on Sunday announced a new operation to escort neutral ships that are stuck in the Strait of Hormuz.
Trump seeks to deflate Iran authorization push by telling Congress war is over
It’s a technical argument under the War Powers Act that’s designed to dissuade lawmakers who were getting interested in a debate.
Sanders keeps shaping Senate candidacies in his mold
The Vermont Independent is going back to the stump for progressives in Minnesota and Michigan after a proxy win in Maine.
Progressive megadonors bet big on content creators
Democracy Alliance is urging members to commit eight-figure donations to a new liberal media fund, according to details shared with Semafor.
Debatable: Trump’s White House ballroom
Lawmakers are debating whether the ballroom could solve the security problem — and how to fund it.
House could soon follow Senate in banning lawmakers from prediction markets
The Senate earlier unanimously passed a ban on senators trading on prediction markets Thursday.
Democrats wrestle over campaign agenda: ‘You can’t just be anti-Trump’
Even if they can find middle ground, there’s the question of the best messenger for a party that lacks a clear leader.
BusinessRicardo Arduengo/Reuters
Spirit closure reflects airlines’ woes
The demise of American budget carrier Spirit Airlines reflects how the jet fuel crisis stemming from the Iran war is imperiling the global travel industry.
Ricardo Arduengo/ReutersBondholders took on Trump — and won again
Spirit Airlines’ failed government bailout shows the limits of Trump’s no-recourse business approach.
AI Is changing the price of work
The pre-AI economy ran on inputs. That’s about to change.
Investors grapple with Big Tech’s AI spending spree
US stocks on Thursday wrapped up their best month since 2020, as investors shrugged off disruptions from the Iran war and picked winners and losers in Big Tech.
FCC’s Disney probe divides Republicans
The accusations of censorship from some Republicans suggest Brendan Carr misjudged the appetite for a crackdown on speech.
Technology
Manuel Ausloos/Reuters
A photo of AI-generated art. Brendan McDermid/Reuters
Smartphone bans in school offer mixed results, study finds
Smartphone bans didn’t lead to improvement in discipline or test scores, a large-scale study found.
Manuel Ausloos/ReutersAI is not replacing artists but is changing how they work, research says
Analysis of Gallup polling data suggested that AI was not reducing the workload for even the most AI-exposed creators.
A photo of AI-generated art. Brendan McDermid/ReutersChinese humanoid robot maker Linkerbot seeks $6B valuation
Beijing has made dominating the humanoid robot sector a national priority.
Kyiv grows its global security might
Ukraine is increasingly playing the role of global security provider — rather than recipient — as US allies question the extent of Washington’s security guarantees, experts said.
Chinese court says AI displacement is no excuse for firings
A Chinese court ruled that companies can’t use AI as a justification for getting rid of employees.
C-suite exodus at Boston Dynamics
Former employees said the executives were pushed out by a board of directors critical of the company’s narrowing lead against its competitors.
Energy
Carlos Barria/Reuters
Kevin Lamarque/Reuters
Staff/Reuters
Sixty nations agree to landmark climate accord
Nearly 60 nations this week moved toward phasing out oil, gas, and coal, in a climate summit that aimed to accelerate a global shift toward renewables.
Carlos Barria/ReutersClimate tech startups turn to AI
AI is becoming harder to avoid across climate tech in general, and solar developers in particular face narrowing margins.
Kevin Lamarque/ReutersUAE’s OPEC exit deals major blow to oil cartel
Abu Dhabi argued the move would allow it to act more independently in its “long-term strategic and economic vision.”
Staff/ReutersGulf
Amr Alfiky/Reuters
Abu Dhabi, and Gulf, turn focus to self-reliance
Thousands gather at the UAE’s first major convening since the war, focusing on manufacturing to secure ‘sovereignty and resilience.’
Amr Alfiky/ReutersCompeting visions of warfare in the Gulf’s waters
Iran is reportedly planning to strap mines onto dolphins.
Iran war causes headaches for clean energy too
Many byproducts of the oil and gas industry are essential for making solar panels, wind turbines, and batteries.
Abu Dhabi sees returns from major tech investments
The UAE capital’s Technology Innovation Institute sold a data privacy product to San Francisco-based AI firm OPAQUE in the “multi-million-dollar range.”
Gulf construction boom pauses amid Iran war
The Gulf’s construction market was worth $175 billion in 2025, built on gigaprojects and other oil-funded diversification plans.
China
Maxim Shemetov/Reuters
Go Nakamura/Reuters
Taiwan Presidential Office/Handout via Reuters
Chinese humanoid robot maker Linkerbot seeks $6B valuation
Beijing has made dominating the humanoid robot sector a national priority.
Maxim Shemetov/ReutersChinese court says AI displacement is no excuse for firings
A Chinese court ruled that companies can’t use AI as a justification for getting rid of employees.
Go Nakamura/ReutersTaiwan’s president makes it to Eswatini, in spite of Beijing
Taiwan’s president traveled to Eswatini despite Beijing’s alleged attempts to keep him from getting there.
Taiwan Presidential Office/Handout via ReutersAfrica
Ali Ihsan Ozturk/Anadolu Agency/Getty Images
Rogan Ward/Reuters
New housing design reduces disease rates in Tanzania
Children living in specially designed two-story homes had lower rates of malaria, diarrhea, and acute respiratory infections, a study found.
Ali Ihsan Ozturk/Anadolu Agency/Getty ImagesAI-driven copper mine in Zambia breaks ground
Silicon Valley-based KoBold used AI to help find a previously unknown concentrated copper ore deposit on the site.
Rogan Ward/ReutersChinese fintech OPay eyes US IPO with $4B valuation
OPay has engaged three banks on the move, according to Bloomberg.
Nigeria’s Peter Obi leaves opposition coalition
The move increases the likelihood that the opposition vote will be split in January’s election.
Moody’s pulls South Africa office
The global credit ratings agency’s move gives local body GCR a shot at filling the gap.
IMF warns Angola it could reach debt ceiling
The organization advised the country to deploy an expected windfall from rising oil prices toward reducing debt.
Security
Thilo Schmuelgen/File Photo/Reuters
Stringer/Reuters
Ramil Sitdikov/Reuters
US troop drawdown from Germany poses dilemma for Europe
The US’ withdrawal of 5,000 troops from Germany is symptomatic of a widening transatlantic rift that risks leaving Europe with drastic security gaps.
Thilo Schmuelgen/File Photo/ReutersTrump says US to escort ‘neutral’ ships through the Strait of Hormuz
US President Donald Trump on Sunday announced a new operation to escort neutral ships that are stuck in the Strait of Hormuz.
Stringer/ReutersBacklash swells to Russia web crackdown
More ordinary Russians are starting to speak out, in a rare chorus of dissent.
Ramil Sitdikov/ReutersMedia
Screenshots/Fox News and Fox Business/YouTube; Yves Herman/Reuters
How the Fox News hawks got back in Trump’s good graces
And how Marc Thiessen saved Ukraine.
Screenshots/Fox News and Fox Business/YouTube; Yves Herman/Reuters Johnny Harris on building a journalism project that doesn’t sell out
Harris joins Mixed Signals to break down how he went from selling his own plasma to running a YouTube channel with over 7 million subscribers
How the WHCD shooting laid bare the media’s trust crisis
I was at the White House Correspondents’ Association dinner. Some number of people are convinced we’re not getting the real story.
FCC challenges ABC broadcast licenses
The move could strip ABC of its ability to broadcast to stations across the country following Jimmy Kimmel’s “expectant widow” monologue comments.
What’s next for Letterboxd?
The controlling investor in Letterboxd, the cinephile social platform, is looking to sell its stake.
CEO Signal
Courtesy of Government of Dubai/Joey Pfeifer/Semafor
Courtesy of Hilton/Joey Pfeifer/Semafor
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.
How Dubai’s Hadi Badri builds confidence in a crisis
The Dubai Economic Development Corp. CEO says data, proactive engagement, and long-term goals can turn the Iran conflict into a “speed bump.”
Courtesy of Government of Dubai/Joey Pfeifer/SemaforHilton’s Chris Nassetta on why CEOs should ‘lift above the noise’
The longstanding leader says it’s critical to avoid “jerking the wheel.”
Courtesy of Hilton/Joey Pfeifer/SemaforAD