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Intelligence for the New World Economy
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The World at a Glance
Updated 10:47am EST
1
The US vice president urged voters to be patient over cost of living concerns, pointing to the Trump administration’s political vulnerability over its handling of the economy.
2US President Donald Trump ordered a “complete blockade” of oil tankers leaving Venezuela, ratcheting up tensions with Caracas and driving global crude prices higher.
3The EU appears likely to drop a ban on the sale of combustion-engine cars, bowing to pressure from the continent’s beleaguered auto industry.
4The IEA predicted that global coal use may peak by 2030, as renewables, nuclear power, and natural gas squeeze demand for the dirtiest fossil fuel.
5China lowered its tariffs on EU pork imports, indicating that trade tensions may be easing between Brussels and Beijing.
6Warner Bros. Discovery will reportedly tell its shareholders to reject a hostile takeover bid by Paramount and instead back Netflix’s offer.
US, European officials offer Ukraine NATO-like security guarantees
The issue of security guarantees had been a major hurdle blocking the path to a Ukraine-Russia peace deal.
Lisi Niesner/Pool/ReutersUS limits entry for Nigerians in new travel restrictions
Nigeria is one of 12 additional African countries — which also include Angola, Senegal, Tanzania, and Zambia — that now face new limits on visiting the US.
Nathan Howard/ReutersDOJ antitrust chief faces political pressure over WBD bidding war
Members of both parties are urging scrutiny of Netflix’s deal and a competing bid from Paramount.
Gail Slater. Mattie Neretin/CNP/Sipa USA.Trump era opens banking license for fintechs
PayPal is the latest company to apply for a license to become a bank, after years of government resistance.
Kris Tripplaar/SemaforAD
White House ramps up economic sales pitch
Vice President JD Vance is appearing in Pennsylvania Tuesday to talk up the administration’s economic policies.
Ammar Awad/ReutersActivist investors are losing the Big Three
Activists complain that index funds don’t show them love, even when CEOs underperform. Data suggests that’s overwhelmingly true.
Lucas Jackson/ReutersCongressional row over aircraft safety spills into public
Some lawmakers argue language in the annual defense bill would make a repeat of the January crash at Reagan National airport more likely.
Ken Cedeno/Reuters
Politics
Aaron Schwartz/Reuters
Chuck Cook-USA TODAY SportsKen Cedeno/Reuters
Trump and his party enter a winter of discontent
Republicans are cringing at the president’s digressions as they divide further on potential economic fixes.
Aaron Schwartz/ReutersBroadcaster Tafoya weighs Minnesota Senate bid
Michele Tafoya met with National Republican Senatorial Committee officials last week.
Chuck Cook-USA TODAY SportsCongressional row over aircraft safety spills into public
Some lawmakers argue language in the annual defense bill would make a repeat of the January crash at Reagan National airport more likely.
Ken Cedeno/ReutersWhite House ramps up economic sales pitch
Vice President JD Vance is appearing in Pennsylvania Tuesday to talk up the administration’s economic policies.
US ends protections for Ethiopians as part of immigration crackdown
Around 5,000 Ethiopian immigrants have been granted TPS designation since 2022, and the new rule is triggering panic among them.
Trump eyes Hassett, Warsh as finalists for Fed chair
Hassett is the favorite, but experts worry he would be excessively deferential to the White House.
More Americans using AI at work, poll finds
The share of US employees who said they used AI at work at least “a few times a year” rose to 45%.
US shutdown deadline could merge with ACA fight — again
Open enrollment for the Obamacare marketplaces ends on Jan. 15 — and a swath of government funding expires on Jan. 30.
Congressional Republicans recoil after Indiana redistricting rebuke
“There will be a lot of primaries” against Indiana lawmakers who voted “no,” Sen. Jim Banks, R-Ind., warned on Fox News.
Trump is betting his presidency on AI. Can he sell it?
The president is good at counting zeroes, and many in the administration believe his bet is paying off.
Opposition to Netflix-Warner deal grows in Washington
Sen. Tim Scott, a Republican with close ties to the White House, joined the mounting opposition in Washington to Netflix’s takeover of Warner Bros.
Business
Trump clan distances itself from Ellisons and Paramount
David Ellison had counted on the Trump family’s support. Now, they’re out of the deal and out of his corner.
AI’s frontmen are blowing it
Mixed messages and rookie mistakes from Silicon Valley execs are fueling concerns of an AI bubble, giving the sense that the technology isn’t ready for primetime.
DOJ antitrust chief faces political pressure over WBD bidding war
Members of both parties are urging scrutiny of Netflix’s deal and a competing bid from Paramount.
Trump era opens banking license for fintechs
PayPal is the latest company to apply for a license to become a bank, after years of government resistance.
Activist investors are losing the Big Three
Activists complain that index funds don’t show them love, even when CEOs underperform. Data suggests that’s overwhelmingly true.
Technology
Shelby Tauber/Pool/Reuters
Brendan McDermid/Reuters
AI’s frontmen are blowing it
Mixed messages and rookie mistakes from Silicon Valley execs are fueling concerns of an AI bubble, giving the sense that the technology isn’t ready for primetime.
Shelby Tauber/Pool/ReutersUS tech stocks slide as bubble concerns mount
AI leader Oracle has lost almost half its value since its September peak, which briefly saw its founder become the world’s richest man.
Brendan McDermid/ReutersWhy high-quality content can thrive in an AI world
The Disney–OpenAI licensing deal is the latest example of a media company making a savvy move in the fog of AI economics.
Why Excel is AI-proof
Microsoft recently upped the price of Excel which remains the company’s killer app, despite the rise of AI.
Singapore startup builds AI-powered, self-running chemistry lab
The self-driving lab consists of AI software and robots that design experiments, run them, and gather data, with limited human intervention.
Ancestry’s new AI feature narrates ancestors’ stories. But it won’t make ‘dead people dance.’
The generative AI feature allows users to create narrated audio stories of their genealogy, but CTO Sriram Thiagarajan says they are mindful of risks in applying the new technology.
Energy
Mike Blake/File Photo/Reuters
An Aramco oil field in Saudi Arabia. Hamad I Mohammed/Reuters.
Benoit Tessier/Reuters
Western carmakers reverse on EV plans amid China competition
Ford dropped plans for an all-electric truck, while Volkswagen is expected to extend its investment in gas-powered cars.
Mike Blake/File Photo/ReutersIEA raises prediction for global oil demand in 2026
The agency pointed to an improving macroeconomic and trade outlook for the changing picture, as well as reduced crude flows from sanctions-hit Russia and Venezuela.
An Aramco oil field in Saudi Arabia. Hamad I Mohammed/Reuters.Exxon plans to cut low-carbon spending by a third
It’s the latest sign of a pullback on decarbonization across most big oil companies.
Benoit Tessier/ReutersGulf
An entrepreneurship event hosted by the Cultural Development Fund. cdf_sa/instagram.
Saudi’s development fund plans bond debut
The National Development Fund is ramping up financing for the kingdom’s rapidly changing economy, the governor says.
An entrepreneurship event hosted by the Cultural Development Fund. cdf_sa/instagram.Gulf cash is coming for American entertainment
In Gulf leaders’ techno-optimist view, AI revolutionizes our lives, leaving us with more money to spend enjoying ourselves, including on entertainment.
Gulf tourism bets on rugged, screen-free luxury
Parvara, a mountain retreat in the northern emirate of Fujairah in the UAE, is the latest resort in the region to offer an alternative to glitzy hotels in capital cities.
Private credit a lifeline for Saudi Arabia’s Vision 2030
One of the world’s fastest-growing asset classes is gaining steam among Gulf sovereign wealth funds and family offices.
Abu Dhabi top financial hub in the Gulf, new ranking finds
A new index of competitiveness from NYU Abu Dhabi’s Stern School of Business placed Abu Dhabi in 12th place, ahead of Dubai, Riyadh, and Doha.
Africa
British Prime Minister Keir Starmer. Henry Nicholls/Pool via Reuters.
Monicah Mwangi/File Photo/Reuters
UK launches new Africa strategy focused on investment over aid
Africa Minister Jenny Chapman said Britain — which this year cut its aid budget by 40% — was “moving from donor to investor.”
British Prime Minister Keir Starmer. Henry Nicholls/Pool via Reuters.British drinks maker Diageo to sell stake in East African Breweries
The deal marks the company’s second major divestment from the continent in as many years.
Monicah Mwangi/File Photo/ReutersPan-African mobile operator Airtel inks deal with Starlink
Airtel seeks to use satellite technology to enhance voice and text messaging services in its African markets.
African Development Bank raises record $11 billion for key fund
The African Development Fund lends money to 37 low-income nations on the continent.
US limits entry for Nigerians in new travel restrictions
Nigeria is one of 12 additional African countries — which also include Angola, Senegal, Tanzania, and Zambia — that now face new limits on visiting the US.
MoneyGram bets on cash advantage in Africa
The company’s CEO says physical money remittances and new digital products give it an advantage.
Security
Flavio Brancaleone/Reuters
A strike earlier this month in the Eastern Pacific. US Southern Command/Handout via ReutersLisi Niesner/Pool/Reuters
Spate of violent attacks sparks fears of Islamic State revival
The Islamic State group is a shadow of its mid-2010s heyday but remains a threat, The Telegraph reported.
Flavio Brancaleone/ReutersVenezuela conflict looms as US strikes more boats in Pacific
The latest strikes represent an escalation in the White House’s campaign on what it alleges are boats operated by drug traffickers.
A strike earlier this month in the Eastern Pacific. US Southern Command/Handout via ReutersUS, European officials offer Ukraine NATO-like security guarantees
The issue of security guarantees had been a major hurdle blocking the path to a Ukraine-Russia peace deal.
Lisi Niesner/Pool/ReutersMedia
Isabel Infantes/File Photo/Reuters
Trump sues the BBC for $10B over defamation claim
The edit of Trump’s Jan. 6, 2021 speech at the US Capitol gave the impression that the president called for violence.
Isabel Infantes/File Photo/ReutersAndy Richter on late night’s decline, Dancing With the Stars, and new media
The comedy veteran and longtime Conan O’Brien sidekick joins Mixed Signals for an existentially funny conversation about surviving three decades in entertainment.
David Remnick on 100 years of the New Yorker, Netflix, & meeting Trump
The New Yorker’s longtime editor-in-chief joins Mixed Signals for a candid conversation about the magazine.
Trump’s war on public media, with PBS CEO Paula Kerger
The chief executive of America’s public broadcaster joins Mixed Signals at a moment when public broadcasting is facing its most existential threat in decades
Hong Kong activist and media tycoon Jimmy Lai convicted
Lai has been found guilty of colluding with foreign forces to undermine national security, a further sign of the city’s shrinking tolerance for dissent.
CEO Signal
Courtesy of Lyft/Joey Pfeifer/Semafor
Courtesy of ServiceNow/Joey Pfeifer/Semafor
The Manufacturing Institute/Joey Pfeifer/Semafor
How Lyft’s David Risher seized his ‘wet cement’ moment
The CEO of the No. 2 in US ridesharing says there’s more to growth than catching ‘the other guys.’
Courtesy of Lyft/Joey Pfeifer/SemaforHow Bill McDermott’s ‘underdog desire’ drives ServiceNow
The enterprise software CEO sees AI creating ‘chaos’ inside some companies — and opportunities for his own.
Courtesy of ServiceNow/Joey Pfeifer/SemaforHow 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/SemaforAD