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Fetterman still weighing his place in the Democratic tent
The Pennsylvanian is an outlier in a party where what he calls the “warped mutation” of democratic socialism is rising.
Fetterman still weighing his place in the Democratic tent
The Pennsylvanian is an outlier in a party where what he calls the “warped mutation” of democratic socialism is rising.
US government’s Africa mapping mishap signals wider problem
View / Warsh’s Fed holds, but Trump stands by his man
The World at a Glance
Updated 4:21pm EDT
1
President Trump said Hamas had agreed to disarm and Israel would withdraw from Gaza, though neither confirmed his claims.
2Asian stocks rebounded on US tech earnings results, reviving enthusiasm for AI spending.
3China’s factory output contracted unexpectedly for the first time since February, as the country struggles to revive a slowing economy.
4Anthropic said its Claude AI model hacked into three organizations, in the latest worrying security breach.
5Amid Houthi threats to the Bab el-Mandeb Strait, Saudi Arabia announced plans for a maritime coalition to protect shipping routes
6The US economy grew more slowly than expected in the second quarter, as AI-related imports weighed on otherwise robust economic data.
T-Mobile, Deutsche Telekom merger stalls
T-Mobile executives have told their controlling shareholder that they no longer support the $300 billion merger.
How YouTube is navigating an AI tightrope
The company is trying a new way of using AI to give users better search results.
Anthropic says its AI model hacked three companies
Anthropic’s announcement came after OpenAI said a “swarm” of its agents escaped confinement and broke into at least five companies.
Progressives’ Midwest insurgency is powered by the growing data center backlash
From Francesca Hong to Abdul El-Sayed, the left is winning Democrats’ message battle on the issue.
Oman’s plan to end Strait of Hormuz impasse faces stiff opposition
The plan centers on a key section of international maritime law, whose application is opposed by both Iran and the West.
Democrats circulate anti-crypto poll ahead of vote
The poll found that voters in Democratic primaries view crypto less favorably than oil companies; Wall Street; or data centers.
Bond markets flinch at Fed’s non-guidance
Yields on 30-year Treasury bonds reached new heights after Warsh made good on his promise to pare back guidance that he says markets overrely on.
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Politics
Democratic socialists rework platform as they step into spotlight
Democratic Socialists of America is in a brighter spotlight than ever.
Lucas Jackson/Reuters
New ads to attack vulnerable Republicans over cost of care
The political arm of advocacy group Care Can’t Wait will launch digital ads in a half-dozen battleground congressional districts next week as part of a six-figure campaign slamming Republicans for the high price of caregiving.
Jonathan Ernst/Reuters
Fetterman still weighing his place in the Democratic tent
The Pennsylvanian is an outlier in a party where what he calls the “warped mutation” of democratic socialism is rising.
Nathan Howard/Reuters
State Department pressed to increase aid for women impacted by Ebola outbreak
Sens. Jeanne Shaheen and Lisa Murkowski want the administration to approve support for a UN agency President Donald Trump withdrew from.
Progressives’ Midwest insurgency is powered by the growing data center backlash
From Francesca Hong to Abdul El-Sayed, the left is winning Democrats’ message battle on the issue.
Debatable: Will Trump’s new tariffs be overturned?
Experts say the 301 tariffs announced last week will be harder to fight in court.
Democrats circulate anti-crypto poll ahead of vote
The poll found that voters in Democratic primaries view crypto less favorably than oil companies; Wall Street; or data centers.
US State Dept. mislabels every country on Africa map
The department acknowledged the “confusion” its map caused during a presentation at a global AIDS conference in Brazil.
ICE deploying more body cameras nationwide, Sen. Collins says
The acting ICE director made the commitment during a closed-door meeting with senators.
Never-El-Sayed moment in Michigan?
Democrats may fail to unite around their candidate in the general.
US lawmakers advance bill that targets Russian oil buyers
The proposal will face tough questions about whether it really helps Ukraine or merely empowers President Donald Trump’s global tariff war.
Business
T-Mobile, Deutsche Telekom merger stalls
T-Mobile executives have told their controlling shareholder that they no longer support the $300 billion merger.
Meta plunges on AI spending scrutiny
Lackluster earnings and revenue projections dimmed investor confidence in CEO Mark Zuckerberg’s AI vision.
AI-related imports prove to be drag on US growth
The AI boom cut against overall economic growth, as the US imported more semiconductors.
High-flying hedge fund sells holdings to Citadel after AI losses
Situational Awareness’ decision to dump its stock holdings to Citadel is an AI-age sequel to the Archegos fiasco that rocked Wall Street a few years ago.
Bond markets flinch at Fed’s non-guidance
Yields on 30-year Treasury bonds touched 5.24% after Warsh made good on his promise to pare back guidance that, in his view, the market has come to overanalyze and overrely on.
Technology
Robots get better at handling unpredictability
Google DeepMind unveiled a new model this week that gives humanoid robots finer control over how they interact with objects around them, including completing complicated tasks like tying a trash bag.
Courtesy of DeepMind
Chinese AI companies aim to serve businesses
Chinese tech players like ByteDance, Alibaba, and Tencent are looking to pivot toward the more lucrative enterprise market to increase revenues.
The ByteDance logo is seen at the company’s office in Shanghai, China July 4, 2023. Aly Song/Reuters.
How YouTube is navigating an AI tightrope
The company is trying a new way of using AI to give users better search results.
Americans worry robots will take jobs, but not theirs
A new poll offers an early snapshot of Americans’ attitudes toward robots in various corners of everyday life.
Meta plunges on AI spending scrutiny
Lackluster earnings and revenue projections dimmed investor confidence in CEO Mark Zuckerberg’s AI vision.
AI-related imports prove to be drag on US growth
The AI boom cut against overall economic growth, as the US imported more semiconductors.
Energy
The gold rush is on to build Gulf energy projects
A group of US and Saudi investors is looking to set up a port-connected “energy corridor” for producing and exporting around the Strait of Hormuz.
Mohammed Benmansour/Reuters
US emissions reductions fall short of Biden-era goals
The US is on track to reduce its greenhouse gas emissions by only 27-41% below 2005 levels by 2040, a new report found.
Dane Rhys/Reuters
US lawmakers advance bill that targets Russian oil buyers
The proposal will face tough questions about whether it really helps Ukraine or merely empowers President Donald Trump’s global tariff war.
Norlys Perez/File Photo/Reuters
Gulf
LNG shipments start moving through Hormuz in long road to recovery
Before the war, roughly a fifth of the world’s LNG passed through the strait, and the disruption has left Asian buyers scrambling.
Oman’s plan to end Strait of Hormuz impasse faces stiff opposition
The plan centers on a key section of international maritime law, whose application is opposed by both Iran and the West.
Gulf states push China to restrain Iran
The Gulf is hoping that Beijing will use its economic clout to steer Tehran to a negotiated deal that will reopen the Strait of Hormuz.
The gold rush is on to build Gulf energy projects
A group of US and Saudi investors is looking to set up a port-connected “energy corridor” for producing and exporting around the Strait of Hormuz.
Saudi economy shrinks in second quarter with hit to oil output
The non-oil economy, the main engine of job creation and economic diversification, expanded on an annual basis.
China
Gulf states push China to restrain Iran
The Gulf is hoping that Beijing will use its economic clout to steer Tehran to a negotiated deal that will reopen the Strait of Hormuz.
China’s foreign minister Wang Yi. Achmad Ibrahim/Pool via Reuters
US-China space race intensifies
China is closing the satellite gap with the US, as Beijing battles Washington to become the world’s leading space power.
China Daily via Reuters
FCC ban on new Chinese robots poses challenges for US firms
American robot makers may have to move quickly to onshore their supply chains, as many still rely on Chinese components or do some assembly overseas.
Maxim Shemetov/Reuters
Africa
US backs Madagascar rare earths project
The announcement is part of Washington’s efforts to chip away at China’s dominance of the critical minerals sector across Africa.
Ed Harris/Reuters
Belgium backs major germanium plant in DR Congo
The plant, at full capacity, could supply up to 15% of the world’s demand for the critical mineral.
Hereward Holland/Reuters
South Africa appoints deputy minister to head state pension fund
Seiso Mohai’s appointment shifts political oversight of the fund into President Cyril Ramaphosa’s office.
Energy retailers urge Nigeria to build fuel reserves amid fuel crisis
The move would undermine Africa’s richest man, Aliko Dangote, who says his 650,000 barrels-a-day refinery can meet Nigeria’s energy needs.
US government’s Africa mapping mishap signals wider problem
An AI-generated map that mislabeled every country was presented by the US State Department at a conference in Brazil, generating widespread concern.
Greenpeace threatens legal action over Dangote Lamu refinery
The group accuses Dangote Industries and the government of speeding ahead with the project without an environmental assessment.
Security
France to deport Russian journalist accused of publishing propaganda
The case has laid bare Europe’s dilemma in carrying out its strategic objectives while upholding its liberal values.
The news studio at RT France. Gonzalo Fuentes/Reuters.
Russia’s war narrative falters
Russia is suffering from “narrative collapse” in its war against Ukraine, a journalist said, as Kyiv turns the tide in the conflict — on the front lines and in American right-wing media.
Eduardo Munoz/Reuters
Iran and Ukraine wars merge in the Caspian Sea
The Ukraine and Iran wars collided over the weekend, as Kyiv attacked an Iranian commercial ship in the Caspian Sea.
The foreign ministers of Iran and Russia on July 24. Russian Foreign Ministry/Handout via Reuters
Media
Senate Democrat’s new bills would restrict AI-powered ads and paid influencers
California Sen. Adam Schiff plans to introduce two new bills that would attempt to illuminate who is paying influencers for political speech online and restrict AI-generated likenesses of politicians.
Evan Vucci/Reuters
Former Surgeon General Vivek Murthy on loneliness and why he’s more worried about your phone than your body
Former US Surgeon General Vivek Murthy joins Mixed Signals to make the case that America’s loneliness crisis is a public health emergency.
Steve Hilton on the Murdochs, David Ellison, and conservative media’s California
Steve Hilton has lived many lives: a key strategist to former British Prime Minister David Cameron, a populist Fox News host, and — after renouncing his UK citizenship — the Republican nominee in California’s gubernatorial race.
Katie Nolan on the sports gambling takeover, covering politics, and the slow return of the boys’ club
Sports media host and “Casuals” podcast creator Katie Nolan joined Mixed Signals live at Cannes to talk about navigating two decades of upheaval in sports media.
Reddit CEO Steve Huffman on LLMs, fighting the bots, and why it’s good that you can’t get famous on Reddit
Reddit co-founder and CEO Steve Huffman joins Mixed Signals during the platform’s 21st birthday to talk about what it means to be the internet’s anti-social media hub.
CEO Signal
Why Max Levchin wants Affirm to act like your smarter older sister
The fintech founder sees AI threatening traditional lenders by alerting consumers to their hidden fees.
How Patrice Louvet blends ‘magic and logic’ at Ralph Lauren
The Procter & Gamble veteran has focused the fashion brand by balancing emotion and data.
How Bruce Van Saun united Citizens against America’s biggest banks
The superregional lender’s CEO has made a virtue of its place in “the middle of the river.”
Courtesy of Citizens Financial Group/Jake Angelo/Semafor
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