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Intelligence for the New World Economy
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The World at a Glance
Updated 6:23pm EDT
1
The US struck and seized an Iranian-flagged ship trying to evade a blockade.
2Uncertainty over the Strait of Hormuz compounds global energy supply concerns ahead of a busy travel season.
3Canada’s leader said his country’s close US ties have become “weaknesses,” shortly after the US commerce secretary blasted Ottawa’s trading strategy.
4Progressive leaders rallied in Barcelona, reflecting an emerging coalition of middle powers positioning themselves as alternatives to nationalist politics.
5India’s pharmaceutical companies are in an intense race to create cheaper generic versions of weight-loss drugs.
6A Chinese robot finished a half marathon in under 51 minutes, underscoring advancements in China’s physical AI sector.
Iran says Strait of Hormuz fully open during ceasefire
Oil prices plunged on the news that the key waterway would reopen.
Reuters/File PhotoInvestors are underestimating global economic impacts of Iran war, top executives warn
The head of the London Stock Exchange said at Semafor World Economy Thursday that markets have adopted a sense of “rational complacency” that threatens to “tip over into irrational complacency.”
Kris Tripplaar/SemaforGreer: Trump administration wants to be ‘pragmatic’ on China
“We live in the real world,” the US trade representative told Semafor World Economy.
Kris Tripplaar/Semafor10-day ceasefire between Israel and Lebanon takes hold
The announcement follows weeks of war, though it was unclear if Hezbollah would agree to the truce terms.
Florion Goga/ReutersIran will control Strait of Hormuz after war, former Biden adviser says
Tehran won’t give up its economic leverage, Amos Hochstein said at Semafor World Economy.
Annabelle Gordon/SemaforSome private credit funds have misrepresented liquidity to retail investors, Goldman’s Waldron says
Without an economic problem, “we’re not going to have a big problem in private credit,” the Goldman Sachs president said at Semafor World Economy.
Kris Tripplaar/SemaforNobody should control the Strait of Hormuz, UAE minister says
The waterway’s disruption is a global crisis, Minister of State for International Cooperation Reem Al Hashimy said at Semafor World Economy.
Annabelle Gordon/Semafor
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Politics
Lisi Niesner/Reuters
Reuters
David Kawai/Reuters
Hormuz uncertainty compounds global energy concerns
Fresh uncertainty around the Strait of Hormuz over the weekend compounded concerns over global energy supplies ahead of a busy travel season.
Lisi Niesner/ReutersUS seizes Iranian ship as strait is closed
The US struck and seized an Iranian-flagged cargo ship trying to evade a blockade in the Gulf of Oman, President Donald Trump said Sunday, as Tehran reversed its decision to reopen the Strait of Hormuz.
ReutersMark Carney calls Canada’s US ties a weakness
Canadian Prime Minister Mark Carney on Sunday said his country’s close ties to the US have become “weaknesses,” shortly after the US commerce secretary blasted Canada’s trading strategy.
David Kawai/ReutersRogan flanks Trump for new order promoting psychedelics research
Health secretary Robert F. Kennedy Jr., who has joined the prominent podcaster in touting the drugs’ benefits, also joined the Oval Office signing.
Democratic group dings Collins on Iran in new ad
The ad urges the Maine Republican senator to “stop supporting Trump’s war, Mainers can’t afford it.”
State pressed on reported plan to condition health aid to Zambia
Three Democratic senators expressed concerns to Rubio about a push to gain access to the African country’s copper mines.
10-day ceasefire between Israel and Lebanon takes hold
The announcement follows weeks of war, though it was unclear if Hezbollah would agree to the truce terms.
Democrats wield power on national security votes
Democrats are weighing how to use their ample leverage on expiring surveillance powers and Iran funding.
Greer: Trump administration wants to be ‘pragmatic’ on China
“We live in the real world,” the US trade representative told Semafor World Economy.
Trump renews his threat to fire Jerome Powell
US President Donald Trump said he would fire Federal Reserve Chair Jerome Powell if he doesn’t step aside when his term expires next month, a move critics say would undermine the central bank’s independence.
Black Democrats want a post-Trump plan. The candidates are working on it.
Nearly a dozen potential presidential contenders showed up at Rev. Al Sharpton’s conference to talk to a deeply influential bloc of the party.
BusinessLisi Niesner/Reuters
Hormuz uncertainty compounds global energy concerns
Fresh uncertainty around the Strait of Hormuz over the weekend compounded concerns over global energy supplies ahead of a busy travel season.
Lisi Niesner/ReutersIndian companies rush to make GLP-1s
India’s pharmaceutical companies are in an intense race to create cheaper generic versions of weight-loss drugs after the patent for the active ingredient semaglutide expired in the country.
EU seeks to relax corporate merger rules
The EU is planning a “radical shake-up” of corporate merger guidelines, as it seeks to build global champions capable of competing with US and Chinese firms, the Financial Times reported.
Europe down to six weeks of jet fuel, IEA chief says
The continent is the biggest buyer of jet fuel that is shipped through the Strait of Hormuz, leaving it exposed to supply shocks.
Arvind Krishna, IBM CEO, on Big Bets, AI, and Quantum
Most CEOs have not woken up to the fact that technology is as important as their balance sheet, the IBM Chairman and CEO says in the latest episode of The CEO Signal.
Technology
Maxim Shemetov/Reuters
Jason Reed JIR/Reuters
China’s robot half marathon shows off humanoid advances
A bipedal humanoid robot finished a half marathon in China in under 51 minutes, underscoring rapid advancements in the country’s physical AI sector.
Maxim Shemetov/ReutersCIA creates first intelligence report written without humans
The US intelligence agency may have been the first to write a report using AI, with no human involvement.
Jason Reed JIR/ReutersAI is making chief tech officers and chief human resources officers work together
As more AI agents are employed in businesses, top executives are increasingly having to find common ground to manage the workforce.
Why it pays to fund the wrong research
The administration needs to be okay with funding research that might prove useful many decades in the future.
CEOs are embracing AI agents as cyber risks grow
Swarms of such agents could create “an enormous mess” for cybersecurity, one executive said at Semafor World Economy.
Pancreatic cancer drug doubles median survival time
Most patients die within months of diagnosis; daraxonrasib boosted survival from six months to 13.
Energy
REUTERS/File Photo
Tasos Katopodis/Getty Images for Semafor
Jim Vondruska/Reuters
The Hormuz crisis is far from over
It will take a lot more than political pronouncements to get oil flowing again.
REUTERS/File PhotoCut red tape to meet climate tech needs, executives say
Executives from clean energy startups said at Semafor World Economy that the regulatory environment for new clean tech needs to improve.
Tasos Katopodis/Getty Images for SemaforThe US gets riskier for energy investors
US consumers have largely been insulated from the worst impacts of the Strait of Hormuz blockade, but the country lags behind China in cheap electricity production.
Jim Vondruska/ReutersGulfLisi Niesner/Reuters
Hormuz uncertainty compounds global energy concerns
Fresh uncertainty around the Strait of Hormuz over the weekend compounded concerns over global energy supplies ahead of a busy travel season.
Lisi Niesner/ReutersUS seizes Iranian ship as strait is closed
The US struck and seized an Iranian-flagged cargo ship trying to evade a blockade in the Gulf of Oman, President Donald Trump said Sunday, as Tehran reversed its decision to reopen the Strait of Hormuz.
10-day ceasefire between Israel and Lebanon takes hold
The announcement follows weeks of war, though it was unclear if Hezbollah would agree to the truce terms.
AI firm Domyn bets on regulated industries to chase $1 trillion future
Backed by Abu Dhabi’s G42, the European startup launched a new model for finance, healthcare, government, and defense clients.
Optimism rises on Iran, Lebanon diplomacy
Stocks surged on Wednesday as prospects rose for peace in two Middle East conflicts.
Africa
South Africa’s central bank governor Lesetja Kganyago. Tasos Katopodis/Getty Images for Semafor.
Ken Cedeno/Reuters
South Africa’s Kganyago rejects ‘wait-and-see’ approach
South Africa’s central bank governor Letsetja Kganyago told Semafor World Economy the bank could not be “complacent.”
South Africa’s central bank governor Lesetja Kganyago. Tasos Katopodis/Getty Images for Semafor.War sends Africa debt costs spiraling
The Iran war is raising debt costs for African countries, sparking warnings that some economies could default as interest rates soar.
Ken Cedeno/ReutersDR Congo miner commits more copper to US
The 500,000-tonne pledge would come through Gécamines’ joint venture with Swiss commodities trading company Mercuria.
South Africa can hit 4% growth, Standard Bank CEO says
Sim Tshabalala told Semafor World Economy that changes at state-owned power and logistics companies had improved efficiency.
The cost of borrowing has skyrocketed for African nations
The average cost of external borrowing in Africa has nearly doubled in four years, according to a new report from ONE Data and The Rockefeller Foundation.
South Africa slips in emerging market investment ranks
The drop was fueled by contraction in the country’s mining sector, as global trade tensions have impacted demand for South African mineral exports.
Security
Frank Simon/Reuters
Majid Asgaripour/WANA via Reuters
Henry Romero/Reuters
New EU rules spark airport delays
Travelers from non-EU countries must register their personal information and biometrics the first time they enter the bloc.
Frank Simon/ReutersIran internet blackout enters 46th day, straining economy
Iran’s internet blackout is now among the longest ever recorded.
Majid Asgaripour/WANA via ReutersMurders drop in Mexico, minting a new political star
The country’s security minister, Omar García Harfuch, has become one of Mexico’s most popular politicians.
Henry Romero/ReutersMedia
Kris Tripplaar/Semafor
LeBron James is getting ready for his post-NBA media career, partner says
In an appearance at last week’s Semafor World Economy gathering, Maverick Carter said that changes in the tech and media landscape will allow James some flexibility in terms of his next moves once he retires — which could be as soon as later this month.
Kris Tripplaar/SemaforCNN backpedals after booker turns away guest for merger segment
“No one advised any editorial employee at CNN not to pursue this story,” a CNN spokesperson said.
Writer of media newsletter recapping media newsletters suspended after errors
Mediaite’s One Sheet newsletter has grown increasingly error-prone.
Gulf media crackdown sanitizes images of the war
Some international wires have halted conflict photography in the UAE since the arrest of photojournalists there.
How Bluesky earned its reputation — and why it could be the way of the future
Bluesky COO Rose Wang on how her company got to 40 million users.
CEO Signal
Issei Kato/Reuters 
Ancestry/YouTube
Richard Bord/Getty Images for Cannes Lions
How Ivan Espinosa got Nissan to face reality
Nissan’s vehicle sales and share price have plummeted. Espinosa has a mandate to turn them around.
Issei Kato/Reuters How old records and new AI technology brought growth back to Ancestry
CEO Howard Hochhauser says the site had stopped listening to its customers.
Ancestry/YouTubeRichard Edelman on trust, ‘Succession,’ and how to advise a CEO
The C-suite adviser says clients should spend more time hearing their critics.
Richard Bord/Getty Images for Cannes LionsAD