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Intelligence for the New World Economy
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The World at a Glance
Updated 7:53am EST
1
Donald Trump stepped up his rhetoric against Somalis as his administration blocked migration from 19 countries.
2Belgian police charged two senior EU foreign policy figures in a fraud investigation that has rocked Brussels.
3French President Emmanuel Macron landed in Beijing for a three-day state visit likely to focus on trade and technology.
4The US and Russia made no tangible progress toward a truce in the Kremlin’s war in Ukraine during Moscow talks.
5Anthropic reportedly brought in a law firm to begin work on possibly going public as soon as next year.
6US President Donald Trump said he would soon start land strikes inside Venezuela, escalating a showdown with Caracas despite blowback over his campaign against suspected drug boats.
More Americans concerned about political rhetoric, poll finds
Majorities say both parties’ rhetoric has “gone too far.”
Evelyn Hockstein/Reuters Cornyn trails Paxton in Texas Senate race, Democratic poll finds
Sen. John Cornyn is widely seen as a more electable general candidate than Ken Paxton.
Jose Luis Gonzalez/Reuters Saudi sees ample room to keep borrowing to fund diversification
The government says returns on investing in its economy outweigh borrowing costs, even as it trims spending.
Bernd von Jutrczenka/picture alliance via GettyFamilies of Kenyans fighting for Russia demand their return
Nairobi said around 200 Kenyans are fighting alongside Russian forces in the country’s war against Ukraine.
Alexander Ermochenko/ReutersAD
Nigeria nominates new defense minister
The move comes against the backdrop of a security crisis that threatens bilateral ties with the US.
Christopher Musa. Marvellous Durowaiye/Reuters.Trump’s push against Venezuela faces Republican blowback at pivotal moment
The president may be close to a decision on expanding military pressure on Caracas. But his party’s lawmakers are chafing at the administration’s latest moves.
Anna Rose Layden/ReutersUkraine carries out record attacks on Russian energy infrastructure
The offensive included a series of drone attacks on oil vessels in the Black Sea that Kyiv alleges were part of Russia’s “shadow fleet.”
Gleb Garanich/ReutersPoliticsEvelyn Hockstein/Reuters Jose Luis Gonzalez/Reuters 
Jonathan Ernst/Reuters
More Americans concerned about political rhetoric, poll finds
Majorities say both parties’ rhetoric has “gone too far.”
Evelyn Hockstein/Reuters Cornyn trails Paxton in Texas Senate race, Democratic poll finds
Sen. John Cornyn is widely seen as a more electable general candidate than Ken Paxton.
Jose Luis Gonzalez/Reuters Senate unlikely to get health care deal before key vote
Senators are still searching for an elusive bipartisan deal to prevent the Affordable Care Act’s enhanced tax credits from expiring.
Jonathan Ernst/Reuters RFK has ‘moved on’ from Nuzzi drama
The man in the middle of 2025’s most lurid political-media storm seems intent on riding it out quietly.
Trump’s push against Venezuela faces Republican blowback at pivotal moment
The president may be close to a decision on expanding military pressure on Caracas. But his party’s lawmakers are chafing at the administration’s latest moves.
For sale: A bridge to Moscow
As soon as Donald Trump returned to office, chatter rippled through the world of would-be Russia investors that there might be business to be done.
Fight over state-level AI rules heats up in Congress
Republicans are split over whether to add a moratorium on state-level AI regulation to must-pass defense legislation.
Democrats push armed security for lawmakers
Rep. Joe Morelle, the party’s top member on the House Administration Committee, discussed the new effort with Semafor.
DC shooting deepens tensions over National Guard deployments
The man suspected of shooting two US National Guard members in Washington, DC, worked for a CIA-backed paramilitary force in Afghanistan, the agency said.
Trump’s AI agenda sails toward an iceberg of bipartisan populist fury
The AI industry’s new super PAC picked its first political target this month — and missed.
House aims for ‘worldwide threats’ hearing with Noem next month
If and when the committee finalizes the December date, there will be lots to talk about.
Business
Shelby Tauber/Pool/Reuters
What goes around, comes around in AI investments
OpenAI’s bizarre investment in Thrive — normally venture firms give money to startups, not the other way around — looks like a classic diversification play.
Shelby Tauber/Pool/ReutersPublic markets ‘worth reviving’: SEC Chair
Paul Atkins, noting in his Tuesday speech that public-market listings have fallen 40% since the mid-1990s, vowed to reduce paperwork for companies.
How Saint-Gobain is getting US students to prize factory work
North America CEO Mark Rayfield says young Americans who visit its plants see that “it’s not your 1950s manufacturing job.”
How Joe Preston got New Balance back in the race
The sneaker brand’s CEO says problem-solving “sprint” teams have been key to turning around its revenues and reputation.
China buying more US-made goods, Washington says
Beijing offered to increase imports of US commodities in order to lower tensions.
Technology
Mistral’s CEO Arthur Mensch. Benoit Tessier/Reuters.
Courtesy of Amazon
French AI startup Mistral goes small with stronger AI models
The smallest of the new models is tiny by LLM standards, but the company says it can outperform some models four times its size.
Mistral’s CEO Arthur Mensch. Benoit Tessier/Reuters.Amazon’s AI chip upgrades fuel broader fears about depreciation
The Trainum3 rollout also offers a glimpse at another puzzle: The difficulty of separating individual chips from the system of a data center.
Courtesy of AmazonApple reportedly refuses to install India’s state-owned app
The requirement by India to install a cyber safety app on devices has been the subject of outcry that the government could access users’ data.
Microsoft research chief on the importance of self-disruption
With AI innovation growing increasingly secretive, Peter Lee discussed the importance of chasing disruption.
Gemini is most ‘empathetic’ AI model, test shows
AI journaling app Rosebud tested 25 models across mental health-related scenarios.
Jigsaw CEO Yasmin Green on the power of AI in polling
Green told Semafor she believes her company has found a way to use AI to improve political discourse.
Energy
Mark Carney and Alberta’s Premier. Todd Korol/Reuters
Akintunde Akinleye/ReutersGleb Garanich/Reuters
Canada softens climate rules for Alberta oil pipeline deal
Mark Carney framed the decision as essential to developing the province’s energy sector while reducing Canadian dependence on the US.
Mark Carney and Alberta’s Premier. Todd Korol/ReutersTotalEnergies to sell stake in Nigeria projects to Chevron
TotalEnergies also sold 10% of a different Nigerian offshore field to Shell.
Akintunde Akinleye/ReutersUkraine carries out record attacks on Russian energy infrastructure
The offensive included a series of drone attacks on oil vessels in the Black Sea that Kyiv alleges were part of Russia’s “shadow fleet.”
Gleb Garanich/ReutersGulf
@redsea_mc/Instagram
Saudi Arabia to open Red Sea Museum
Set to open on Dec. 6 inside the restored historic Bab Al-Bunt building in Jeddah’s old town, the museum features more than 1,000 artifacts.
@redsea_mc/InstagramUAE family office compensation lags global peers
A generational shift at UAE family offices is reshaping how much they pay staff, but compensation still lags the richest global finance hubs.
Two Omani green hydrogen projects end
The decision comes amid industry concerns about a mismatch between supply and demand for the low-emissions fuel.
Saudi sees ample room to keep borrowing to fund diversification
The government says returns on investing in its economy outweigh borrowing costs, even as it trims spending.
Abu Dhabi private equity firm BlueFive looks to consolidate Gulf insurers
The firm raised $2 billion for its first buyout fund this year with a view to later expand across Southeast Asia.
Africa
Ken Cedeno/ReutersChristopher Musa. Marvellous Durowaiye/Reuters.
Trump’s uncertain peace deal for DRC and Rwanda
The presidents of DR Congo and Rwanda meet in Washington on Thursday to sign a long-expected peace agreement.
Ken Cedeno/ReutersNigeria nominates new defense minister
The move comes against the backdrop of a security crisis that threatens bilateral ties with the US.
Christopher Musa. Marvellous Durowaiye/Reuters.British Fintech giant Wise gets approval from South Africa
The approval paves the way for Wise to disrupt the market for cross-border payments in Africa’s most developed financial sector.
South Africa records stronger-than-expected GDP growth
The 0.5% growth, compared with the previous three months, marks a fourth straight quarter of expansion.
Families of Kenyans fighting for Russia demand their return
Nairobi said around 200 Kenyans are fighting alongside Russian forces in the country’s war against Ukraine.
The Next 3 Billion on Tour Series: Abu Dhabi Edition
Semafor will spotlight insights from the Global Findex 2025 report and the Global Digital Connectivity Tracker, translating global research into actionable, locally relevant conversations.
Security
Leonardo Fernandez Viloria/Reuters
Ann Wang/Reuters
US Special Envoy Steve Witkoff. Sputnik/Kristina Kormilitsyna/Pool via Reuters.
Maduro strikes defiant tone amid rising US tensions
“Failure is not an option at this crucial juncture,” a sword-brandishing Maduro said in a fiery address to supporters in Caracas.
Leonardo Fernandez Viloria/ReutersTaiwan pledges extra $40B for defense to counter China threat
Tensions have ramped up in the region after Japan’s leader said Tokyo may intervene militarily if Beijing sought to invade Taiwan.
Ann Wang/ReutersUS envoy, Putin to discuss new Ukraine peace plan
US envoy Steve Witkoff is set to meet with Russian President Vladimir Putin next week.
US Special Envoy Steve Witkoff. Sputnik/Kristina Kormilitsyna/Pool via Reuters.Media
Tasos Katopodis/Getty Images for Nuclear Now
Vanity Fair expected to let Olivia Nuzzi’s contract lapse, insiders say
Just weeks after Vanity Fair published an excerpt of Olivia Nuzzi’s book, it’s increasingly unlikely she’ll be a fixture on its print masthead.
Tasos Katopodis/Getty Images for Nuclear NowUK’s The Telegraph to be taken over by rival Daily Mail
The outlet has been for sale since its previous owners ran up unsupportable debts and were removed in 2023.
How Trump is trying to remake American culture — starting with his favorite buddy-cop franchise
The president is offering some creative input on potential upcoming projects.
CNN drops out of Apple News feed, for now
The two companies are continuing to discuss a new deal that would restore CNN’s stories to Apple News.
Can the Supreme Court keep its secrets? With Jodi Kantor of the New York Times
New York Times investigative reporter Jodi Kantor joins Mixed Signals to explain how she’s revealed the secrets of internal deliberations behind the ceremony and black robes of the US Supreme Court.
CEO Signal
The Manufacturing Institute/Joey Pfeifer/Semafor
Courtesy of New Balance/Joey Pfeifer/Semafor
Courtesy of Four Seasons/Joey Pfeifer/Semafor
How Saint-Gobain is getting US students to prize factory work
North America CEO Mark Rayfield says young Americans who visit its plants see that “it’s not your 1950s manufacturing job.”
The Manufacturing Institute/Joey Pfeifer/SemaforHow Joe Preston got New Balance back in the race
The sneaker brand’s CEO says problem-solving “sprint” teams have been key to turning around its revenues and reputation.
Courtesy of New Balance/Joey Pfeifer/SemaforA man for Four Seasons: Alejandro Reynal’s ‘intentional growth’ plan
The luxury hotel brand’s CEO says knowing where his brand has the right to win is the key to its global expansion.
Courtesy of Four Seasons/Joey Pfeifer/SemaforAD