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Intelligence for the New World Economy
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The World at a Glance
Updated 7:05pm EDT
1
US oil reserves are at their lowest level since 2004 as the impacts of the Iran war pile up, but countries are adapting.
2US chip stocks tumbled on Thursday as fresh doubts surfaced over the sustainability of the AI spending boom.
3Chinese AI phenom DeepSeek is closing in on a $7.4 billion funding round, in one of the country’s largest startup raises.
4Ballooning electricity demand from AI data centers in the US is pushing companies and regulators to consider unorthodox solutions.
5Hezbollah rejected a ceasefire in Lebanon on Thursday shortly after it was announced, denting hopes for peace in the region.
6Australia, the UK, and the US agreed new measures to protect undersea cables and pipelines from sabotage, including the deployment of autonomous submarine drones.
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.
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/ReutersWashington weighs new bipartisan AI proposal
Perhaps the most controversial provision would preempt state laws governing model development for three years.
Kylie Cooper/ReutersTrump to nominate Blanche as attorney general
Todd Blanche had held the job in an acting capacity since Pam Bondi’s departure.
Evelyn Hockstein/Reuters 
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PoliticsKylie Cooper/Reuters Jonathan Ernst/Reuters Elizabeth Frantz/Reuters
Washington weighs new bipartisan AI proposal
Perhaps the most controversial provision would preempt state laws governing model development for three years.
Kylie Cooper/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/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/ReutersHouse 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.
College sports bill’s momentum masks its hurdles
Lawmakers on both sides of the aisle have concerns.
Platner asks for the Biden treatment from skeptical Democrats
Both Jill Biden and Graham Platner have highly scrutinized marriages (and families) that have made them political celebrities, and both argue that the public interest in their past missteps is a waste of time.
Sanders follows Trump toward government stakes in private firms
The Vermont independent is proposing a bill that would give the federal government a stake in leading AI companies.
Vulnerable members spend big on official comms
Franking, or the official communications sent out by Capitol Hill offices, is becoming a flashpoint in contested House elections.
BusinessFlorence Lo/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/ReutersChip 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.
The ‘Jensen effect’ is the new ‘Trump bump’ for stocks
Shares of different AI companies all rose as much as 10% this week after Huang complimented them on stage at an event in Taiwan.
Technology
Rogan Ward/Reuters
Shelby Tauber/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/ReutersDeepSeek 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.
The ‘Jensen effect’ is the new ‘Trump bump’ for stocks
Shares of different AI companies all rose as much as 10% this week after Huang complimented them on stage at an event in Taiwan.
EnergyRogan Ward/Reuters Shelby Tauber/Reuters Adrees 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
ChinaFlorence Lo/Reuters 
Dado Ruvic/Reuters
Kiyoshi Ota/Pool 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/ReutersJapan capitalizes on China backlash, courts Pacific island nations
Prime Minister Sanae Takaichi said her government would help smaller states strengthen their “autonomy and resilience,” part of an anti-China push by Japan.
Kiyoshi Ota/Pool via ReutersAfrica
Miners in South Africa. Oupa Nkosi/Reuters
The 2026 Basketball Africa League champions RSSB Tigers. BAL/Getty Images.
Africa’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.
The 2026 Basketball Africa League champions RSSB Tigers. BAL/Getty Images.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.
US slashes visa processing hubs across Africa
The cutbacks will require citizens of countries without a hub to travel to an approved site to apply.
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 Signal
Courtesy of Cisco/Joey Pfeifer/Semafor
Courtesy of Match Group/Joey Pfeifer/Semafor
Courtesy of Becton Dickinson/Joey Pfeifer/Semafor
How 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/SemaforHow syringe-maker BD is infusing AI into its medical devices
CEO Tom Polen is turning his 65,000 employees into lean manufacturing “problem-finders.”
Courtesy of Becton Dickinson/Joey Pfeifer/SemaforAD