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Intelligence for the New World Economy
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The World at a Glance
Updated 6:36pm EDT
1
The US struck a key Iran bridge as Donald Trump’s renewed threats failed to ease the market’s anxiety.
2The US-Israeli attacks on Iran have bolstered Tehran’s oil income, even as they’ve devastated the country’s leadership and military.
3From China to India to Singapore, the Iran war is squeezing Asia’s oil refiners, forcing them to pay more or reduce output.
4The US trade deficit increased in February, new data showed, exactly one year after President Donald Trump announced his sweeping tariff regime.
5The US’ AI infrastructure buildout is decelerating as the market struggles to cope with supply shortages.
6Tesla sold slightly more cars in the first quarter of 2026 compared to last year, but the figures missed expectations and failed to impress investors.
The cost of ‘war insurance’ in the Gulf has risen 1,900%
Traditional commercial insurance policies don’t cover armed conflict, sending property owners and developers to the specialty war market.
Mohamed Azakir/ReutersBlue Owl faces withdrawal flood as private credit jitters persist
Blue Owl’s largest fund, a $36 billion pot of corporate loans known by its ticker, OCIC, received redemption requests for 22% of its assets.
Brendan McDermid/File Photo/ReutersCongress eyes DHS shutdown endgame
Senate Republicans plan to try to pass virtually the same bill the chamber approved last week before it hit a wall in the House.
Kent Nishimura/Reuters US college students using AI despite school restrictions
More than half of US college students say they’re using the technology in their coursework at least once a week.
Florence Lo/Illustration via Reuters DCCC chief says tariffs will hand Democrats the House
“This anniversary is a reminder to the American people who’s responsible for making their lives harder,” said Suzan DelBene, D-Wash.
Evelyn Hockstein/Reuters Trump asks Americans to stick with him on Iran war
Markets were initially skeptical of Trump’s optimism.
Alex Brandon/Pool via ReutersDHS reminds Congress: TSA perks still on hold
Making travel less comfortable was supposed to pressure members of Congress to act, but they left Washington without passing a funding bill anyway.
Daniel Heuer/Reuters
AD
Politics
Carlos Barria/Reuters
realDonaldTrump/Truth Social
Kevin Lamarque/Reuters
The world marks one year since ‘Liberation Day’
The US trade deficit increased last month, new data showed, exactly one year after President Donald Trump unveiled his sweeping tariff regime.
Carlos Barria/ReutersUS destroys key Iran bridge as Trump threats fail to calm markets
Donald Trump’s renewed threats against Iran failed to drastically change the dynamic of the war or ease the market’s anxious posture.
realDonaldTrump/Truth SocialTrump places new tariffs on drugs, metals
Makers of brand-name drugs who refuse the US’ demands to lower prices and relocate manufacturing to the US will face tariffs of 100%.
Kevin Lamarque/ReutersTrump ousts Bondi from atop the Justice Department
The president made his decision official Thursday afternoon in an interview with Fox.
US college students using AI despite school restrictions
More than half of US college students say they’re using the technology in their coursework at least once a week.
DCCC chief says tariffs will hand Democrats the House
“This anniversary is a reminder to the American people who’s responsible for making their lives harder,” said Suzan DelBene, D-Wash.
Congress eyes DHS shutdown endgame
Senate Republicans plan to try to pass virtually the same bill the chamber approved last week before it hit a wall in the House.
Trump asks Americans to stick with him on Iran war
Markets were initially skeptical of Trump’s optimism.
US Supreme Court signals skepticism of Trump birthright order
Trump attended Wednesday’s hearing on the case, making him the first sitting president to attend oral arguments at the Court.
Europe’s far right sours on Trump over Iran war
France’s Marine Le Pen said the strikes against Iran had “catastrophic consequences.”
US military seeks to expand Greenland presence
The US military is negotiating with Denmark for more access to military bases on the Arctic island.
Business
Benoit Tessier/Reuters
Tesla sees modest quarterly sales uptick
Tesla sold slightly more cars in the first quarter of 2026 compared to the same period last year, but the figures missed expectations and failed to impress investors.
Benoit Tessier/ReutersAsian oil refiners feel the heat from MidEast energy shortages
The Iran war is squeezing Asia’s oil refiners, forcing them to pay more or reduce output.
Blue Owl faces withdrawal flood as private credit jitters persist
Blue Owl’s largest fund, a $36 billion pot of corporate loans known by its ticker, OCIC, received redemption requests for 22% of its assets.
The cost of ‘war insurance’ in the Gulf has risen 1,900%
Traditional commercial insurance policies don’t cover armed conflict, sending property owners and developers to the specialty war market.
Emma Walmsley on leading and leaving GSK
What does it take to hand over a company after years at the helm?
TechnologyBenoit Tessier/Reuters 
Jonathan Ernst/Reuters
Tesla sees modest quarterly sales uptick
Tesla sold slightly more cars in the first quarter of 2026 compared to the same period last year, but the figures missed expectations and failed to impress investors.
Benoit Tessier/ReutersUS data center buildout slows on supply hurdles
The US’ AI infrastructure buildout is decelerating as the market struggles to keep up with demand.
Jonathan Ernst/ReutersUS college students using AI despite school restrictions
More than half of US college students say they’re using the technology in their coursework at least once a week.
SpaceX prepares to go public
The Elon Musk-founded rocket and satellite maker is aiming to hit the stock market in June.
NASA’s historic Moon mission heralds new space race
A crew of astronauts prepared to journey around the Moon for the first time in 50 years, traveling the furthest ever from Earth.
The compute bottleneck could be good for tech innovation
The shortage of AI compute is actually forcing companies to stay focused.
Energy
Punit Paranjpe/File Photo/Reuters
Stringer/Reuters
NTB/Ole Berg-Rusten via Reuters
Asian oil refiners feel the heat from MidEast energy shortages
The Iran war is squeezing Asia’s oil refiners, forcing them to pay more or reduce output.
Punit Paranjpe/File Photo/ReutersThe oil market’s most important signals
There are a few key data points to watch out for to understand the real state of the energy market.
Stringer/ReutersEnergy security rifts widen in Europe
The deepening energy crisis triggered by the US-Israel war with Iran has thrust energy security back onto the political stage in European countries.
NTB/Ole Berg-Rusten via ReutersGulf
Stringer/Reuters
Iran’s oil coffers bolstered by war
The US-Israeli attacks may have devastated Iran’s leadership and military, but the conflict has bolstered its oil income.
Stringer/ReutersThe cost of ‘war insurance’ in the Gulf has risen 1,900%
Traditional commercial insurance policies don’t cover armed conflict, sending property owners and developers to the specialty war market.
Trump tries to shift Hormuz burden
The US president said countries that depend on Gulf oil and gas should assume responsibility to “grab it and cherish it.”
US tech company eyes Saudi’s lithium resources
The kingdom has lithium and vanadium in its oil-field brine, which Pure Lithium wants to use to produce rechargeable batteries.
Gulf aluminum output tumbles on Iran war
The Gulf accounts for around 23% of global, non-China aluminum production, most of which is sold overseas.
Africa
Gasoline for sale in Cameroon. Desire Danga Essigue/Reuters
South African President Cyril Ramaphosa. Chen Wei/Xinhua via Getty Images.
Global energy prices spark Africa inflation fears
Most countries on the continent still import the majority of their refined fuels, and have been badly hit by the energy crisis sparked by the war in the Middle East.
Gasoline for sale in Cameroon. Desire Danga Essigue/ReutersSouth Africa pushes for $200B investment
For more than a decade, South Africa’s economy has barely grown, leaving it with crumbling infrastructure and the need to create jobs.
South African President Cyril Ramaphosa. Chen Wei/Xinhua via Getty Images.Africa’s top bank warns of Iran war growth impact
A possible six-month war would hurt the continent’s already fragile prospects, the development bank said.
Campaign for African artifacts looks to AI to expedite returns
The platform helps to collate and narrativize the often-fragmented research and bureaucracy involved in the return of artifacts to Africa.
African banks’ revenues surpass $100B
In the five years to 2024, Africa’s banking sector outperformed every other region, according to a new McKinsey report.
Nigerian-Americans push to revive Caucus in Congress
The struggle to revive the caucus comes as Nigeria’s designation as a “Country of Particular Concern” test ties between Washington and Abuja.
Security
David Dee Delgado/Reuters
NATO chief Mark Rutte and US President Donald Trump. Jonathan Ernst/Reuters
Denis Balibouse/Reuters
Trump fails to reassure investors on Iran war
Oil prices jumped and stocks fell after Trump’s address to the nation, in which he vowed to continue Iran attacks.
David Dee Delgado/ReutersTrump threatens to pull US out of NATO
The US president called the military alliance a ‘paper tiger’ for its refusal to back his war with Iran.
NATO chief Mark Rutte and US President Donald Trump. Jonathan Ernst/ReutersEurovision expands to Asia
Bangkok is set to host the international song competition in the fall.
Denis Balibouse/ReutersMedia
Screenshot/Nobody Knows Anything
Biden vet launches biweekly streaming show
Rob Flaherty and Jesse Lehrich will launch Nobody Knows Anything, a 90-minute biweekly show, later this month.
Screenshot/Nobody Knows AnythingAxel Springer’s Döpfner courts UK conservative elites
The German mogul is courting regulators and the country’s influential conservative political figures as he attempts to get his bid to buy the Telegraph approved.
Substack rival Beehiiv makes a push into podcasting
Beehiiv has privately been reaching out to independent podcasters on Substack and other platforms.
CBS News expands its investigative team
The network is expanding its investigative journalism efforts as editor-in-chief Bari Weiss continues to reshape it.
Politico taps a new top editor
Jonathan Greenberger garnered internal support from outgoing editor John Harris and CEO Goli Sheikholeslami.
CEO Signal
Courtesy of LSEG/Joey Pfeifer/Semafor
Courtesy of Schneider Electric/Joey Pfeifer/Semafor
Courtesy of IonQ/Joey Pfeifer/Semafor
LSEG’s David Schwimmer on activists, AI, and a global market test
The exchange operator is juggling investor expectations with the need to reshape its business model.
Courtesy of LSEG/Joey Pfeifer/SemaforSchneider Electric’s Olivier Blum on moving at the pace of Nvidia
Remaking an old industrial giant to meet new energy demands started with defining its mission.
Courtesy of Schneider Electric/Joey Pfeifer/SemaforWhy 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 AD