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Intelligence for the New World Economy
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The World at a Glance
Updated 6:22pm EDT
1
The US and Israel’s war against Iran escalated as Washington and Tehran ramped up threats to target civilian infrastructure.
2The US temporarily waived sanctions on Iranian oil that’s already at sea, boosting Tehran’s war economy.
3Ukraine made its largest domestic territorial gains in years after Elon Musk cut off Starlink internet service to Russian forces.
4China pitched itself to global executives as a ‘harbor of stability,’ drawing a contrast to US volatility.
5Trump says immigration agents will be deployed to airports, escalating a standoff over government funding.
6OpenAI plans to nearly double its headcount to 8,000 employees as it expands products to businesses.
Trump digs Powell in deeper at Fed
The president on Thursday put his weight behind the probe into the Fed chair.
Brendan McDermid/Reuters Senate prepares for a long weekend slog
“We will get DHS funded. We’re going to be here until that happens,” said Sen. Bernie Moreno, R-Ohio. “We’re dug in, baby.”
Evan Vucci/Reuters Bondi’s play to defuse an Epstein subpoena partly pays off
Three of the five Republicans who voted to question her under oath are still unconvinced, but two are showing signs of wavering.
Nathan Howard/ReutersWhy CEOs should care about the quantum ‘space race’
IonQ’s Niccolo de Masi says getting quantum security right is ‘a matter of survivability.’
Courtesy of IonQ/Joey Pfeifer/Semafor South Africa mulls M&A reform in quest for 5G investment
MTN CEO Mupita urges regulators to drop early mobile era rules based on headcount competition.
Ralph Mupita, CEO of MTN. Lluis Gene/AFP via Getty Images.Debatable: Will Russia’s luck last?
The Iran war temporarily benefits Moscow, but there’s disagreement over what it means for the Kremlin long-term.
Sputnik/Vyacheslav Prokofyev/Pool via ReutersCollins wants bipartisan Iran spending bill
Some Republicans don’t want to use the party-line budget reconciliation process to deliver war funding.
Kylie Cooper/Reuters
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Politics
Megan Varner/File Photo/Reuters
Stringer/File Photo/Reuters
Amir Cohen/Reuters
Trump to send ICE to airports as long security lines cause travel chaos
US immigration agents will be deployed to airports on Monday, President Donald Trump said, escalating a standoff in Washington over a government funding deal.
Megan Varner/File Photo/ReutersUS lifts sanctions on Iranian oil at sea
The US temporarily waived sanctions on Iranian oil that’s already at sea, boosting the war economy of the nation Washington is waging war against.
Stringer/File Photo/ReutersUS and Iran ramp up threats to target civilian infrastructure
The US said it would “obliterate” Iranian power plants if Tehran did not fully reopen the Strait of Hormuz within 48 hours. Iran responded by threatening to target energy facilities and water desalination plants across the region.
Amir Cohen/ReutersPaxton PAC buys more anti-Cornyn ads for Mar-A-Lago
The Texas Senate hopeful is spending for an audience of one: President Donald Trump.
Senate Democrats square off with each other in ‘spicy primaries’
The days of Democratic party leadership picking winners is over.
Debatable: Will Russia’s luck last?
The Iran war temporarily benefits Moscow, but there’s disagreement over what it means for the Kremlin long-term.
Trump digs Powell in deeper at Fed
The president on Thursday put his weight behind the probe into the Fed chair.
Senate prepares for a long weekend slog
“We will get DHS funded. We’re going to be here until that happens,” said Sen. Bernie Moreno, R-Ohio. “We’re dug in, baby.”
Strain evident in Trump-Takaichi White House meeting
Trump’s joke, comparing the US’ surprise strikes on Iran to Japan’s 1941 attack on Pearl Harbor, elicited an awkward reaction from Takaichi.
Treasury eyes lifting sanctions on Iranian oil
The Trump administration has been desperate to rein in oil prices.
Collins wants bipartisan Iran spending bill
Some Republicans don’t want to use the party-line budget reconciliation process to deliver war funding.
BusinessCourtesy of IonQ/Joey Pfeifer/Semafor
Why CEOs should care about the quantum ‘space race’
IonQ’s Niccolo de Masi says getting quantum security right is ‘a matter of survivability.’
Courtesy of IonQ/Joey Pfeifer/Semafor Gold, other metals fall as Iran war roils commodities
The selloff hit copper and palladium, joining gold and silver, which have fallen since the war began.
Central banks raise the inflation alarm
Central bankers in major economies are voicing concerns about the risk of inflation stemming from the war in Iran.
Wall Street’s dealmakers face a temperature check
Can the animal spirits survive growing fears of an economic slowdown, higher inflation, war, and continued global chaos?
The world’s biggest economy is in uncharted territory
If America was a company, it would be a “lifestyle business.”
Technology
Kylie Cooper/Reuters
Inna Varenytsia/Reuters
OpenAI to nearly double headcount this year
OpenAI plans to nearly double its headcount to 8,000 employees this year, as the startup ramps up a push to sell its AI products to businesses, the Financial Times reported.
Kylie Cooper/ReutersUkraine makes territorial gains as Russia loses Starlink access
Ukraine has achieved its largest domestic territorial gains in more than two years after Elon Musk cut off Starlink internet service to Russian forces, showing how digital infrastructure is redefining the modern battlefield.
Inna Varenytsia/ReutersMicrosoft’s options to rein in OpenAI
Why is exclusivity so important to Microsoft?
Conservative group, teacher’s union team up on chatbots
The issue of children having access to chatbots is uniting even the unlikeliest of groups.
California bill aims to help vibe coders
The so-called Blocking Anticompetitive Self-preferencing by Entrenched Dominant Platforms Act (BASED Act) goes after big tech companies that are stomping on young startups.
Chatbots are learning from Reddit and LinkedIn
Turns out what the growing class of LinkedInfluencers say sort of matters.
Energy
Vasily Fedosenko/Reuters
Tingshu Wang/Reuters
Yoruk Isik/File Photo/Reuters
Russia benefits from Iran war’s oil shocks
Washington last week lifted sanctions on Russian oil that was already in tankers.
Vasily Fedosenko/ReutersGlobal clean technology investment triples over 7 years
Global investment in clean technology hit record levels last year, though growth slowed significantly.
Tingshu Wang/ReutersKyiv worries Moscow sanctions could crumble
Ukraine’s top sanctions adviser told Semafor that the Trump administration’s decision last week to waive sanctions on some Russian oil tankers came as a surprise.
Yoruk Isik/File Photo/ReutersGulfAmir Cohen/Reuters
US and Iran ramp up threats to target civilian infrastructure
The US said it would “obliterate” Iranian power plants if Tehran did not fully reopen the Strait of Hormuz within 48 hours. Iran responded by threatening to target energy facilities and water desalination plants across the region.
Amir Cohen/ReutersIn the Iran war, the Gulf’s shock absorber is still oil
Diversification may have made Gulf economies broader, but oil and the wealth it has helped generate still matter most in this war.
This is the moment for an ‘Arab NATO’
Calls for collective defense are resurfacing, but the obstacles that stalled them before haven’t gone away.
Gulf banks prepared for mass withdrawals, for now
Regional banks have about $312 billion in cash or at central banks to cover outflows, with no end in sight for the Middle East conflict.
Saudi Arabia touts ‘capabilities’ in warning to Iran
While the Gulf’s defense-first policy stands, Riyadh condemned Iran’s attacks on energy facilities, ports, airports, and cities.
Africa
Pius Utomi Ekpei/AFP via Getty Images
Scott Peterson/Getty Images
Nigeria faces Iran war oil price conundrum
Rising oil prices are good for Africa’s top crude producer on a macroeconomic level but higher refined fuel prices will be felt at the pump.
Pius Utomi Ekpei/AFP via Getty ImagesSurge in happiness across Africa driven by youth satisfaction
Congo Brazzaville, Niger, and Togo have seen a rise in youth happiness in recent years, according to Gallup’s 2026 World Happiness Report.
Scott Peterson/Getty ImagesAfrican government borrowing set to hit $155B in 2026
The forecasts are roughly 11% higher than last year, largely driven by persistent fiscal pressures, S&P Global Ratings said.
US Energy Sec derides funding for Africa’s green energy projects
The Trump administration is doubling down on its bid to reverse the Biden-era drive to champion clean energy projects across Africa.
Nigeria secures $1B ports financing deal with UK
The deal to revitalize the congested Apapa and Tin Can Island ports was the highlight of President Bola Tinubu’s state visit to the UK.
Republican bill calls for US to open financial system to Somaliland
Rep. John Rose’s bill won’t formally recognize the breakaway region but bringing it into the US financial system might be the next best thing.
Security
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Omar Sanadiki/Reuters
DVIDS/Handout via Reuters
Israel kills Iran intel chief
Esmail Khatib’s death came within 24 hours of Israeli strikes taking out Iran’s security chief and the head of its feared paramilitary force.
Majid Asgaripour/WANA (West Asia News Agency) via ReutersIsrael kills powerful Iran security chief
Ali Larijani ran Iran’s national security council and was seen as the country’s de facto leader after the former ayatollah was assassinated.
Omar Sanadiki/ReutersIran’s asymmetric warfare challenges US
The US is confronting its limitations in dealing with Iran’s asymmetric warfare, analysts argued.
DVIDS/Handout via ReutersMedia
Screenshot of Vox’s website
Vox Media tried to sell its podcasts, and itself
The company now says its podcast network is not for sale.
Screenshot of Vox’s website Newsom calls FCC chairman’s threats ‘sick’
The California governor argued people from all political perspectives should be concerned about federal regulators weighing in on news content.
Why (and how) everyone is cold-calling the president
Plus, what happened when Semafor’s Max Tani gave him a ring.
Oscars mask a Hollywood in crisis
As Hollywood celebrates the Oscars on Sunday, the glitz masks a deeper crisis for the entertainment industry: rising production costs.
AI is the latest gatekeeper between brands and buyers
Companies are now writing ad copy for bots, not people, and those bots are telling consumers what products to buy.
CEO SignalCourtesy of IonQ/Joey Pfeifer/Semafor 
Courtesy of Starbucks/Joey Pfeifer/Semafor
Courtesy of BETA/Joey Pfeifer/Semafor
Why CEOs should care about the quantum ‘space race’
IonQ’s Niccolo de Masi says getting quantum security right is ‘a matter of survivability.’
Courtesy of IonQ/Joey Pfeifer/Semafor How Brian Niccol jolted Starbucks back to growth
Corporate turnarounds require quick decisions and ‘brutal’ feedback for the CEO, Niccol said in the first episode of Semafor’s ‘CEO Signal’ show.
Courtesy of Starbucks/Joey Pfeifer/SemaforHow Kyle Clark got BETA’s air taxis ready for takeoff
The electric aircraft company’s CEO has a ‘burn-the-boats’ approach to decision-making.
Courtesy of BETA/Joey Pfeifer/SemaforAD