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Intelligence for the New World Economy
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Epstein files bill suddenly speeding to Trump’s desk
View / Saudi wealth does have a bottom. Trump is about to find it.
The World at a Glance
Updated 5:41pm EST
1
A successful push to increase HPV vaccine access will prevent around 1.4 million deaths from cervical cancer, marking a major milestone for global health.
2Anthropic’s valuation rose to $350 billion after Microsoft and Nvidia announced investments in the AI startup, the latest agreement tying together leading American tech companies.
3China’s public is more trusting of AI than the Western world, a survey showed, a divide that could be critical in the fight for tech domination.
4Saudi’s crown prince meets with Donald Trump today, with a deal for US F-35 fighter jets among those set to be signed.
5An outage at cybersecurity firm Cloudflare brought down large parts of the internet, again showing the web’s vulnerability to single points of failure.
6A multi-day stock selloff has stripped almost $100 billion from Nvidia’s market capitalization, as investors fear a tech bubble.
South Africa’s G20 struggles haven’t all been for nothing
Pretoria has had a tough few weeks with the US’ dramatic withdrawal from the G20 summit, and the no-show from China’s leader.
Leah Millis/ReutersUS pushes through new series of oil and gas deals
Saudi Aramco is expected to sign two deals to import US liquefied natural gas.
Brian Snyder/File Photo Preview/ReutersUS investor in Saudi soccer looks to women’s teams
A tech investor is adopting AI and “Moneyball” tactics to compete against Saudi wealth fund-backed soccer clubs.
Courtesy of SPAGoogle releases highly anticipated Gemini 3
The latest version hints at what may become Google’s edge in the race between frontier AI models.
Lisi Niesner/File Photo/ReutersAD
Saudi crown prince visits US with defense, AI on agenda
MBS arrives in Washington this week seeking to cement his country’s deepening alliance with the US.
Saudi Press Agency/Handout via ReutersHouse Democrat: ‘Madness’ to expect bipartisan health care deal by December
Speaking at a Semafor event, Rep. Becca Balint declined to rule out another government shutdown in January.
Rep. Becca Balint, D-Vt. Bill Clark/CQ-Roll Call, Inc via Getty ImagesSaudi paints itself as indispensable US ally for a new era
Riyadh is recasting itself as a partner that can help Washington win in AI, energy, and Middle East security.
Brian Snyder/Reuters
Politics
Jessica Koscielniak/Reuters
Thomas Schwartz/Reuters
Luisa Gonzalez/Reuters
Congress mimics Trump’s Saudi embrace
Even many Democrats shifted their focus from past bipartisan worries over human rights as Crown Prince Mohammed bin Salman arrived.
Jessica Koscielniak/ReutersEpstein files bill suddenly speeding to Trump’s desk
The overwhelming House vote on Tuesday sets the stage for a likely Senate passage as soon as this week.
Thomas Schwartz/ReutersConflict with China would devastate pharmaceutical supply chain, Biden’s drug czar says
“It will be like having car factories without car parts,” Dr. Rahul Gupta said at Semafor’s Future of Health Forum.
Luisa Gonzalez/Reuters House Democrat: ‘Madness’ to expect bipartisan health care deal by December
Speaking at a Semafor event, Rep. Becca Balint declined to rule out another government shutdown in January.
US House expected to pass bill forcing Epstein files’ release
President Donald Trump said Monday he would sign the legislation if the Senate passes it.
Almost half of Americans fear they can’t afford health care: Poll
One in five Americans said they or someone in their household couldn’t afford a prescription in the last three months.
Trump key to any health care negotiations in Senate
There’s no sign yet of a real bipartisan negotiation on expiring subsidies.
What to watch for as Trump welcomes Saudi crown prince
The visit, which will include a trip to the US Capitol, is being closely watched at home and in the Gulf.
Poll: As Trump loses ground with Latinos, Democrats still lag
President Donald Trump has lost most of his 2024 gains with Latino voters, a new poll found.
MAGA breakup: Trump splits with ‘traitor’ Greene
The schism between the president and the Georgia conservative has grown for weeks.
Trump endorses House vote on release of Epstein files
House Republicans, many of whom would have supported the proposal anyway, have been at a boiling point over the vote.
Business
Kevin Lamarque/Reuters
Trump’s SEC entices corporate America to defy shareholders
SEC Chair Paul Atkins said the agency will “not respond to… and express no views on” companies’ decisions to exclude shareholder proposals from corporate ballots.
Kevin Lamarque/ReutersEconomists spar over Lina Khan’s plan to cut stadium beer prices
The former FTC commissioner’s role in NYC Mayor-elect Zohran Mamdani’s affordability efforts is part of a new romance with price controls.
US jobs data blackout will be lifted, but not economic gloom
The government will release September’s jobs report on Thursday, ending a nearly seven-week data void that confounded policymakers.
Momentum builds in Europe’s banking hub
Strategic moves by UBS and Deutsche Bank signal a make-or-break moment for Europe’s long-troubled banking sector
Amazon raises $15B in latest Big Tech bond sale
Big Tech giants have embraced borrowing to fund their ambitious AI buildouts.
TechnologyLisi Niesner/File Photo/Reuters 
Yves Herman/Reuters
Google releases highly anticipated Gemini 3
The latest version hints at what may become Google’s edge in the race between frontier AI models.
Lisi Niesner/File Photo/ReutersCloudflare outage takes down large parts of the internet
Cloudflare’s collapse hit X and AI chatbots Claude and ChatGPT, among dozens of other websites.
Yves Herman/ReutersGlobal markets retreat on fears of tech bubble
The rout, partly fueled by investors’ worries of a US equities bubble, led to the Dow Jones Industrial Average’s worst three-day stretch in months.
Spotting cybercrime is working for Anthropic’s marketing
The company said it had successfully struck down attempts by a perceived Chinese state-sponsored group that succeeded in hacking a “small number” of global targets.
Google refuses to breakup in a plan meant to resolve EU sanctions
Google doubled down in its response to the European Commission’s landmark September decision that found its adtech business breached antitrust rules.
Today’s AI buildout is just a supercharged Cloud 2.0
The reckless AI buildout that we’re hearing about is much more like the old cloud business, but fast-growing, massive, and transformative.
EnergyBrian Snyder/File Photo Preview/Reuters 
Adriano Machado/Reuters
Stoyan Nenov/File Photo/Reuters
US pushes through new series of oil and gas deals
Saudi Aramco is expected to sign two deals to import US liquefied natural gas.
Brian Snyder/File Photo Preview/ReutersRich nations not contributing ‘fair share’ of climate funding, report finds
The ODI think tank calculated each nation’s fair share based on historical responsibility for cumulative emissions, GDP, and population.
Adriano Machado/ReutersUS sanctions on Russia’s Lukoil impede methane cuts
US sanctions saw Lukoil suspended from a coalition of oil majors working together to reduce their methane emissions.
Stoyan Nenov/File Photo/ReutersGulf
Abdulla Al Bedwawi/UAE Presidential Court via Reuters
Saudi wealth does have a bottom. Trump is about to find it.
The kingdom’s crown prince arrives in Washington in search of deals, to meet with a president who wants the same. Where does the money come from?
Abdulla Al Bedwawi/UAE Presidential Court via ReutersSaudi set to announce slew of AI deals with US firms
The US will grant Saudi Arabia access to the latest AI chips as part of data center deals with tech giants.
US investor in Saudi soccer looks to women’s teams
A tech investor is adopting AI and “Moneyball” tactics to compete against Saudi wealth fund-backed soccer clubs.
US to sell fighter jets to Saudi as MBS meets Trump
The deal is just one of those expected to emerge from US President Donald Trump and Saudi Crown Prince Mohammed bin Salman’s Oval Office meeting.
What to watch for as Trump welcomes Saudi crown prince
The visit, which will include a trip to the US Capitol, is being closely watched at home and in the Gulf.
AfricaLeah Millis/Reuters 
Alexandre Meneghini/Reuters
South Africa’s G20 struggles haven’t all been for nothing
Pretoria has had a tough few weeks with the US’ dramatic withdrawal from the G20 summit, and the no-show from China’s leader.
Leah Millis/ReutersNew $400M loan for power ship company supplying African nations
The Turkish company supplies electricity to nearly a dozen African countries through power plants on floating barges.
Alexandre Meneghini/ReutersGhana to abolish VAT on minerals processing
The move is part of broader taxation changes to make the economy “more business friendly” and create jobs, its finance minister said.
Senegal says it’s ‘committed’ to IMF talks despite push against debt restructuring
The announcement came after comments by the prime minister ruling out a debt restructuring, which sent bonds plummeting last week.
S&P Global boost for South Africa, Nigeria
South Africa secured its first credit rating upgrade since 2005, moving up one level to BB.
The fallacy that unites Trump’s strategists and pan-Africanist champions
Africa has less of the world’s share of critical minerals than many seem to think.
Security
KPRM/Handout via Reuters
U.S. Navy/Petty Officer 3rd Class Gladjimi Balisage/Handout via Reuters
Ann Wang/Reuters
Poland calls train explosion ‘sabotage,’ implying Russian involvement
The incident was the latest in a series of episodes across Europe for which authorities have suggested Moscow was responsible.
KPRM/Handout via ReutersTrump threatens more strikes across Latin America
The US president said yesterday he would be “proud” to extend attacks to include land targets in Colombia, Mexico, and Venezuela.
U.S. Navy/Petty Officer 3rd Class Gladjimi Balisage/Handout via ReutersUS approves weapons sale to Taiwan, risking Beijing’s ire
The move risks once again sparking tensions with Beijing, after the US and China reached a détente in their trade war.
Ann Wang/ReutersMedia
Thomas Fuller/SOPA Images/LightRocket via Getty Images
Vox to partner with Patreon for new paywalled shows
Vox said it hopes to supplement its shows with live newsroom conversations and community features such as chats.
Thomas Fuller/SOPA Images/LightRocket via Getty ImagesThe old MSNBC relaunches into a new media world
The network, now called MS NOW, is in the midst of its biggest gamble since it launched in 1996.
An unpublished profile raises questions about Epstein — and journalism
Buried deep in the House Oversight Committee’s recent release of emails from Jeffrey Epstein’s inbox is an 8,684-word profile by the reporter Michael Wolff.
Comcast, Paramount, Netflix near bids for Warner Bros. Discovery
A frenetic pursuit for the last big chunk of media assets is entering its next stage.
BBC director general quits over Trump reporting
He resigned over a report suggesting the broadcaster had misleadingly edited a speech by US President Donald Trump.
CEO Signal
Sean Anthony Eddy/Getty
Merck/Joey Pfeifer/Semafor
Joey Pfeifer/Semafor
Yale study shows CEOs picked from within drive higher returns
Researchers say the performance gap should tell boards not to assume that an outside ‘savior’ will be better.
Sean Anthony Eddy/GettyBelén Garijo’s prescription for Germany’s Merck
The former doctor says long-term success stems from making hard decisions when the going is good.
Merck/Joey Pfeifer/SemaforHow Ariane Gorin sees AI writing Expedia’s third chapter
The former Microsoft executive says agents will not replace her travel site — if it can get its own technology right.
Joey Pfeifer/SemaforAD