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Intelligence for the New World Economy
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The World at a Glance
Updated 6:53pm EDT
1
SK Hynix topped Samsung as Korea’s most valuable company, propelled by the AI-powered chip boom.
2The US eased oil sanctions on Iran after insisting Tehran had agreed to resume UN nuclear inspections.
3SpaceX and Alphabet stocks led a tech rout, even as the US projected optimism about ongoing peace talks with Iran.
4Indian firm Tata Electronics disclosed it was the victim of a cyberattack, potentially exposing Apple and Tesla’s trade secrets.
5China’s green energy and battery product exports to the US showed strong gains in May, according to Beijing’s latest customs data.
6The legendary former US Federal Reserve chairman Alan Greenspan died at 100.
Republican senators start to question Trump’s audit immunity deal
Some are the same critics who helped thwart his $1.8 billion “anti-weaponization” fund.
Jonathan Ernst/ReutersUK Prime Minister Keir Starmer resigns
Starmer was deeply unpopular, with personal favorability ratings of -42.
Jaimi Joy/ReutersSK Hynix becomes South Korea’s most valuable company
SK Hynix topped Samsung as South Korea’s most valuable company, propelled by the AI-powered chip boom.
Florence Lo/ReutersAlan Greenspan, long-serving US Fed chair, dies at 100
The self-taught economist became chair in 1987, overseeing the longest economic boom on record.
Mike Theiler/Reuters‘The president seems to revel in chaos’: Cornyn goes his own way
The Trump-ousted Texas Republican senator sat down with Semafor to talk about how he’s using leverage and the colleagues he’s helping.
Kylie Cooper/ReutersCan the US waive sanctions on Iranian oil?
The Trump administration may not have legal standing to again waive US sanctions.
Stringer/Reuters Lebanon looms over new US-Iran talks
US Vice President JD Vance hoped for an opportunity to “turn over a new leaf” with Iran in a new round of talks Sunday.
Fabrice Coffrini/Reuters
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PoliticsJonathan Ernst/Reuters 
Nathan Howard/Reuters
Benoit Tessier/Reuters
Republican senators start to question Trump’s audit immunity deal
Some are the same critics who helped thwart his $1.8 billion “anti-weaponization” fund.
Jonathan Ernst/ReutersUS eases oil sanctions on Iran
Washington insisted the Islamic Republic had agreed to resume UN nuclear inspections, though Tehran said it made “no new commitments.”
Nathan Howard/ReutersWhat if it’s not l’économie, stupid?
Éric Zemmour’s diagnosis is not the standard analysis of why centrist leaders everywhere have grown so profoundly unpopular.
Benoit Tessier/Reuters New book depicts how Trump hobbled his presidency
‘Regime Change’ reminds readers what’s to come from the narrator-in-chief, who at one point tells aides: “We need plot twists.”
Can the US waive sanctions on Iranian oil?
The Trump administration may not have legal standing to again waive US sanctions.
‘The president seems to revel in chaos’: Cornyn goes his own way
The Trump-ousted Texas Republican senator sat down with Semafor to talk about how he’s using leverage and the colleagues he’s helping.
Europe bakes in a punishing heatwave
A heatwave across Europe prompted a partial alcohol ban in France and the cancellation of public World Cup watch parties in Spain.
Ukraine attacks trigger Russian fuel shortages
Ukraine is hammering Russia’s oil infrastructure, triggering fuel shortages and increasing gas prices.
Italy’s Giorgia Meloni fires back at Trump over G7 photo claim
Meloni said Trump’s claim that she “begged” him for a photo at the G7 summit was fabricated.
Lebanon looms over new US-Iran talks
US Vice President JD Vance hoped for an opportunity to “turn over a new leaf” with Iran in a new round of talks Sunday.
Ukraine hits Moscow with its biggest drone strike yet
The attack’s value is both symbolic and economic, bringing the reality of war home to ordinary Russians
BusinessMike Theiler/Reuters
Alan Greenspan, long-serving US Fed chair, dies at 100
The self-taught economist became chair in 1987, overseeing the longest economic boom on record.
Mike Theiler/ReutersHow a marathon-running CEO set the pace for Cigna
David Cordani says the insurer had to “actively listen” to rebuild trust with its customers.
Execs are warning that EU overregulation is constraining business
ArcelorMittal’s executive chairman and the governor of Saudi Arabia’s Public Investment Fund voiced concern about the regulatory environment.
Activist weighs proxy fight at Vail Resorts
Oasis would have a likely buyer in Cloudflare CEO Matthew Prince, who has expressed interest in acquiring the struggling Park City resort.
Private equity confronts a goose egg
The cascade of financial loss that happens when companies run out of money is in motion.
TechnologyFlorence Lo/Reuters 
Brendan McDermid/Reuters
SK Hynix becomes South Korea’s most valuable company
SK Hynix topped Samsung as South Korea’s most valuable company, propelled by the AI-powered chip boom.
Florence Lo/ReutersSpaceX, Alphabet lead US tech rout
Tech stocks fell Monday even as the US projected optimism about ongoing peace talks with Iran.
Brendan McDermid/ReutersApple vulnerable in Tata cyber breach
India’s largest conglomerate, Tata is one of Apple’s most important manufacturing partners outside of China.
Challengers gain ground as chip market heats up
Rising demand is boosting secondary players in the increasingly competitive semiconductor industry.
JPMorgan restricts Anthropic in Hong Kong
The White House, citing national security concerns, has blocked all foreign nationals from using Anthropic’s most advanced models.
Apple to raise prices as memory chip costs surge
The rapid rollout of AI infrastructure has sent demand for semiconductors soaring.
Energy
David Gray/Reuters
Guglielmo Mangiapane/Reuters
Vantor/Handout via Reuters
China’s green energy exports to US grow
China’s customs data showed strong gains in exports of green energy and battery products to the US last month.
David Gray/ReutersEurope bakes in a punishing heatwave
A heatwave across Europe prompted a partial alcohol ban in France and the cancellation of public World Cup watch parties in Spain.
Guglielmo Mangiapane/ReutersUkraine attacks trigger Russian fuel shortages
Ukraine is hammering Russia’s oil infrastructure, triggering fuel shortages and increasing gas prices.
Vantor/Handout via ReutersGulf
Semafor’s Matthew Martin, left, with Wael Younan, co-head of sovereign wealth management at TCW. Semafor.
TCW sees Gulf funds ramping up deals
Wall Street firms need to be close to Gulf sovereign funds as “integral” parts of the global economy, TCW’s top executive said.
Semafor’s Matthew Martin, left, with Wael Younan, co-head of sovereign wealth management at TCW. Semafor.AI energy firm born out of ADNOC and G42 eyes US
AIQ has nearly 300 use cases for the oil and gas industry and is now looking to export from Abu Dhabi.
Pakistan’s diplomatic chops on display
Pakistan, once cast as a diplomatic pariah by the West, took on a lead role mediating between the US and Iran to produce a deal.
US warns Israel against disrupting deal with Iran
Vance rebuked Israel’s “freakout,” as the US ally telegraphed further military action in Lebanon.
Vance becomes the face of the US-Iran deal
It’s a move analysts say will likely hurt his political future given mounting criticism from conservatives over the agreement.
ChinaDavid Gray/Reuters 
Tyrone Siu/Reuters
Eduardo Munoz/Reuters
China’s green energy exports to US grow
China’s customs data showed strong gains in exports of green energy and battery products to the US last month.
David Gray/ReutersTaiwan announces combat readiness drill
Taiwan’s defense ministry on Sunday announced a five-day combat readiness exercise as China intensifies military activity around the island.
Tyrone Siu/ReutersJPMorgan restricts Anthropic in Hong Kong
The White House, citing national security concerns, has blocked all foreign nationals from using Anthropic’s most advanced models.
Eduardo Munoz/ReutersAfrica
The Cape Town Marathon 2026. @capetownmarathon/Instagram. 
Ghana’s President John Dramani Mahama lays a wreath at Osu Castle, a former slave post. Francis Kokoroko/Reuters.
South African holds world’s oldest ultramarathon
The nearly 55-mile race was held soon after Cape Town was designated a World Marathon Major.
The Cape Town Marathon 2026. @capetownmarathon/Instagram. West African push for slavery reparations
The call comes on the heels of a recent UN declaration that the slave trade was a crime against humanity.
Ghana’s President John Dramani Mahama lays a wreath at Osu Castle, a former slave post. Francis Kokoroko/Reuters.Botswana secures $100M for solar plant
Investors are betting that rising electricity demand will offer lucrative returns on surplus power.
Zimbabwe lithium miners seek processing extension
Africa’s top lithium producer has pressed miners operating in the country to process more of the battery metal locally.
Ethiopian PM Abiy’s party wins parliamentary elections
The party extended its comfortable majority, securing 90% of contested seats in this month’s general election.
South Africa to raise health funding cuts at UN meeting
The meeting comes after the US said it plans to cut HIV/AIDS funding for the country, where rates are the highest in the world.
SecurityNathan Howard/Reuters 
Peter Macdiarmid/Pool via Reuters
Abelardo de la Espriella. Cesar Quiroz/Reuters
US eases oil sanctions on Iran
Washington insisted the Islamic Republic had agreed to resume UN nuclear inspections, though Tehran said it made “no new commitments.”
Nathan Howard/ReutersUK Prime Minister Keir Starmer under pressure to resign
Starmer is said to be weighing “political realities” as Labour members back challenger Andy Burnham.
Peter Macdiarmid/Pool via ReutersColombia elects Trump-endorsed businessman in presidential runoff
The polarized nation headed to the polls amid its worst security crisis in decades.
Abelardo de la Espriella. Cesar Quiroz/ReutersMedia
Dado Ruvic/Reuters
OpenAI’s $100 billion ad bet
The tech giant rolled out new tools for creatives.
Dado Ruvic/ReutersThe Atlantic beefs up its video podcasts
One of America’s oldest magazines is investing in video after seeing notable growth in its audience.
David Droga on AI and the end of ‘mediocre’ human-made ads
As he sees it, the advertising industry is in the throes of a profound technological shift.
Conservatives make the case for right-wing ads at Cannes Lions
The Daily Wire and others are offering an overtly partisan alternative to advertising gatherings that often stay far away from politics.
Netflix wades into the M&A game
The streamer lost out on Roku, but has its eye on Lionsgate.
CEO Signal
Sarah Meyssonnier/Reuters 
Courtesy of Cigna/Graph Massara/Semafor
Courtesy of Honeywell/Joey Pfeifer/Semafor
Former IEA chief says world faces a ‘third oil shock’ despite US-Iran deal
Nobuo Tanaka says the Hormuz crisis has accelerated a seismic shift in the global energy order, but business leaders can learn from it.
Sarah Meyssonnier/Reuters How a marathon-running CEO set the pace for Cigna
David Cordani says the insurer had to “actively listen” to rebuild trust with its customers.
Courtesy of Cigna/Graph Massara/SemaforHoneywell’s CEO on ‘the brutal truth’ about breaking up an industrial giant
Vimal Kapur says delegation and momentum are the keys to splitting a conglomerate.
Courtesy of Honeywell/Joey Pfeifer/SemaforAD