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Intelligence for the New World Economy
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The World at a Glance
Updated 7:19am EST
1
The US and Taiwan agreed a major trade deal, offering a boost both nations’ semiconductor industries.
2A prominent British Conservative MP defected to anti-immigration Reform UK, the latest sign of fracturing in the European center-right.
3Venezuela eased its hydrocarbon investment laws, as Donald Trump pushes for external funding for the country’s moribund oil industry.
4Germany’s economy grew 0.2% last year, the first time it has shown annual growth since 2022.
5Countries are looking to diversify their economic relationships in response to Washington’s protectionism.
6Washington appeared to back away from threats to intervene militarily in Iran following concerns it would not topple the regime.
How Rubio blunted Senate momentum on Venezuela
The secretary of state and Senate GOP leaders lobbied two Republican senators to defect from signing on to a war powers resolution.
Evelyn Hockstein/Reuters Nigeria courts non-Western trade deals to reach infrastructure goals
Trade Minister Jumoke Oduwole said Abuja was in discussions with several Global South nations and Gulf states to secure agreements.
Alexandre Meneghini/File Photo/ReutersForget abolishing ICE — the real Democratic divide is shutting down ICE
While the rest of government funding is a bipartisan affair, the operation in Minnesota is making even party centrists wary of more DHS money.
Elizabeth Frantz/ReutersUS immigrant visa pause hits 26 African countries
The suspension is the latest crackdown on migration under the Trump administration.
Nicolas Economou/NurPhoto via Getty ImagesAD
Gulf countries urge restraint on Iran
Oman, Qatar, and Saudi Arabia reportedly urged a return to talks, warning that bombing Iran wouldn’t topple the government but could spark a regional conflict.
Trump meets Middle East leaders at the UN in September. Al Drago/Reuters.US gets first $500 million Venezuelan oil deal, holding some proceeds in Qatar
The details shared with Semafor mark an initial milestone in the administration’s plan following the ouster of Nicolás Maduro.
Evelyn Hockstein/ReutersCongress starts to prepare fallbacks as Trump keeps eyeing Greenland
The president’s top advisers are forming a working group with Danish and Greenlandic officials, but the stalemate — and threat — remains.
Evelyn Hockstein/Reuters
Politics
Kylie Cooper/Reuters
Evelyn Hockstein/Reuters Elizabeth Frantz/Reuters
Debatable: Venezuela elections
As opposition leader María Corina Machado meets the US president, Washington is divided on when Venezuela should hold elections.
Kylie Cooper/ReutersTrump swerves on health care subsidies
The president’s new health care plan doesn’t mention the enhanced Obamacare subsidies that lapsed at the end of 2025.
Evelyn Hockstein/Reuters Forget abolishing ICE — the real Democratic divide is shutting down ICE
While the rest of government funding is a bipartisan affair, the operation in Minnesota is making even party centrists wary of more DHS money.
Elizabeth Frantz/ReutersUS talks with Denmark, Greenland end in stalemate
US President Donald Trump doubled down on his desire for the Arctic island in recent days, saying “one way or the other, we’re going to have Greenland.”
Trump says ‘killing’ in Iran has stopped
The US president warned, however, that Washington was still weighing military action against the country.
Planning for America’s 250th birthday draws watchdog scrutiny
A watchdog group wants to know more about the dueling groups planning the semiquincentennial.
Senate committee delays vote on crypto bill amid pushback
Senate Banking Committee Chair Tim Scott, R-S.C., made the decision to hold off.
Firms see greater threat from AI than Trump attacks, report finds
Businesses are more worried about AI-related problems like deepfakes than they are about the president singling them out.
Trump sends mixed signals as administration weighs Iran strikes
After days of heightened rhetoric, the US president suddenly softened his tone on Wednesday.
How Rubio blunted Senate momentum on Venezuela
The secretary of state and Senate GOP leaders lobbied two Republican senators to defect from signing on to a war powers resolution.
Congress starts to prepare fallbacks as Trump keeps eyeing Greenland
The president’s top advisers are forming a working group with Danish and Greenlandic officials, but the stalemate — and threat — remains.
Business
Florence Lo/Illustration/File Photo/Reuters
US, Taiwan agree trade deal in boost to semiconductor industry
The deal will see Washington cap tariffs on Taiwanese imports in return for a $250 billion investment to expand chipmaking on American soil.
Florence Lo/Illustration/File Photo/ReutersWhy Macy’s Tony Spring thinks ‘the department store is here to stay’
A turnaround strategy focusing on the basics of merchandising and service is starting to show results.
Greg Hughes on how Suntory plans to revive global spirits sales
The CEO behind Jim Beam and Hibiki says bold goals and learning from failure build long-term growth.
Major bond investor shuns US over Trump’s unpredictability
PIMCO’s chief investment officer told the Financial Times that his bond fund needed “a multiyear period of some diversification away from US assets.”
Netflix, Paramount race to win regulators over on Warner deal
Netflix is also weighing an all-cash bid to further squeeze out Paramount’s competing offer, according to several sources.
Technology
Eva Manez/Reuters
Jim Watson/AFP via Getty
New AI seeks to make water safer
Researchers have developed a machine learning model that helps identify possibly toxic byproducts from water disinfection.
Eva Manez/ReutersBehind Perplexity’s bid for Chrome
It turns out that Perplexity’s $34.5 billion unsolicited bid for Google Chrome last year was not a publicity stunt. The company explains why.
Jim Watson/AFP via GettyDefense Secretary Pete Hegseth jabs Anthropic over safety policies
Hegseth’s remark about AI models was specifically in reference to Anthropic, sources say.
Musk’s Starlink increasingly vital to protests
The satellite broadband network has allowed citizens to bypass government-imposed internet blackouts.
New York judge flips the AI malpractice debate
A New York district judge warns that AI could become so good that not using the technology would be an improper practice in some industries.
Pentagon adds Musk’s Grok to its AI arsenal
Like other leaders, Defense Secretary Hegseth is investing across AI models to keep up with ever-changing and evolving technology.
Energy
The Nave Photon carrying crude oil from Venezuela. Antranik Tavitian/Reuters.
Denis Balibouse/File Photo/Reuters
Phil Noble/Reuters
Venezuela eases oil investment laws under US pressure
Interim President Delcy Rodríguez said she would reform the country’s hydrocarbon laws to ease foreign investment.
The Nave Photon carrying crude oil from Venezuela. Antranik Tavitian/Reuters.Energy dominance goes to Davos
Donald Trump’s energy dominance agenda is already tilting the balance of power in the market.
Denis Balibouse/File Photo/ReutersUK secures support for offshore wind in record auction
British authorities granted contracts expected to produce 8.4 GW of energy, enough to power roughly 12 million homes.
Phil Noble/ReutersGulf
Hamad I Mohammed/Reuters
Oman hands economic control to crown prince
Oman’s technocratic reforms stand out in a region where others often favor “megaprojects and moonshots.”
Hamad I Mohammed/ReutersWorld’s top scientists to descend on Dubai
The inaugural World Laureates Summit will be the largest assembly of its kind, with 200 Nobel laureates expected to attend.
Gulf countries urge restraint on Iran
Oman, Qatar, and Saudi Arabia reportedly urged a return to talks, warning that bombing Iran wouldn’t topple the government but could spark a regional conflict.
Saudi mining giant Maaden outlines $110 billion investment plan
The company’s CEO wants it to be among the biggest global miners in a decade.
Saudi’s sovereign wealth fund preps for a wave of IPOs
The $1 trillion Public Investment Fund’s equity offerings this year could help revive the stock market.
Africa
People with African heritage who obtained their Beninese nationality with help from director Spike Lee. Charles Tossou Placide/Reuters.
Philimon Bulawayo/Reuters
Director Spike Lee helps drive diaspora migration to Benin
The “My Afro Origins” project aims to reconnect descendants of the country with their cultural roots.
People with African heritage who obtained their Beninese nationality with help from director Spike Lee. Charles Tossou Placide/Reuters.Caledonia Mining Corp bets on Zimbabwean gold
The company plans to spend $132 million this year to launch what would become Zimbabwe’s largest gold mine.
Philimon Bulawayo/ReutersUganda’s President Museveni takes early lead in election results
Reports emerged of deadly violence during the polls after a campaign noted for brutal state-led repression.
US immigrant visa pause hits 26 African countries
The suspension is the latest crackdown on migration under the Trump administration.
Nigeria courts non-Western trade deals to reach infrastructure goals
Trade Minister Jumoke Oduwole said Abuja was in discussions with several Global South nations and Gulf states to secure agreements.
Africa’s jobs and growth conundrum
While growth in sub-Saharan Africa is expected to accelerate this year and next, unemployment rates are rising across several nations.
Security
Majid Asgaripour/WANA via Reuters
Stringer/Reuters
Marko Djurica/Reuters
Threat of US strike on Iran appears to wane
Officials reportedly advised US President Donald Trump that an attack would be unlikely to topple the government.
Majid Asgaripour/WANA via ReutersDefense stocks surge on rising calls for militarization
Donald Trump’s calls for a more than 50% increase to his country’s military budget have lifted the valuations of domestic arms firms.
Stringer/ReutersUS talks with Denmark, Greenland end in stalemate
US President Donald Trump doubled down on his desire for the Arctic island in recent days, saying “one way or the other, we’re going to have Greenland.”
Marko Djurica/ReutersMedia
Undersecretary Sarah Rogers on free speech, Europe’s tech crackdown, and the internet she misses
The State Department’s undersecretary for public diplomacy joins Mixed Signals for a wide-ranging conversation about free speech, tech regulation, and why she’s been rattling the patience of some European governments.
Politico announces layoffs, new product
The publication will cut about 3% of its 750-strong global staff.
Blackstone invests $100M in elite marketing tech firm
Applecart has a leading place in an emerging but discreet cohort of companies and organizations aimed at reaching key figures in industry and government.
Pro-Trump group to air Super Bowl ad touting Trump Accounts
It’s the latest move by a president and administration that have fully embraced professional sports as a prime venue to deliver their message.
The business of a viral Substack scandal isn’t as good as you think, Ryan Lizza says
“On the money part, not enough,” Lizza said on Semafor’s “Mixed Signals” podcast when asked about how much money he made off of the 25,000-word series.
CEO Signal
Courtesy of Ferrovial/Joey Pfeifer/Semafor
Courtesy of Southwest/Joey Pfeifer/Semafor
Courtesy of WPP/Joey Pfeifer/Semafor
How US traffic jams are driving Spain’s Ferrovial
CEO Ignacio Madridejos says a triple listing has drawn new investors to a European infrastructure powerhouse.
Courtesy of Ferrovial/Joey Pfeifer/SemaforHow Bob Jordan charted a new course for Southwest Airlines
The budget carrier’s CEO says communications and simulations helped it overhaul its business without killing its culture and business model.
Courtesy of Southwest/Joey Pfeifer/Semafor‘AI is going to automate the ordinary’: Cindy Rose’s plan for ad giant WPP
The admaker has fallen behind its peers, but the Microsoft veteran sees opportunity in disruption.
Courtesy of WPP/Joey Pfeifer/SemaforAD