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Intelligence for the New World Economy
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View / Trump purges his enemies — while his party gets new problems
View / NextEra’s $67 billion deal with Dominion pokes the AI bear
The World at a Glance
Updated 6:59pm EDT
1
US energy exports are hitting record highs, driving domestic fuel prices higher.
2A jury rejected Elon Musk’s claims against OpenAI’s Sam Altman after a trial that underscored the two tech leaders’ bitter feud.
3US President Donald Trump said he suspended planned strikes on Iran at the behest of Middle East allies who cited “serious negotiations.”
4NextEra Energy’s deal to acquire Dominion Energy would create the world’s largest utility amid soaring AI-driven energy demand.
5A European airline chief said he had ‘almost zero concerns’ about jet fuel shortages this summer, echoing oil companies that have downplayed supply concerns.
6President Donald Trump privately aired his displeasure over imperiled security money for his White House ballroom renovation, Semafor reported.
Critics of Trump’s ‘anti-weaponization fund’ have no way to contest it yet
There’s no clear plaintiff to challenge the taxpayer money set to flow to backers of the president.
Leah Millis/ReutersRyanair chief downplays Europe’s jet fuel supply concerns
Michael O’Leary said he had “almost zero concerns” about a jet fuel shortage this summer.
Evelyn Hockstein/ReutersTrump privately fumes over imperiled ballroom security money
The president aired his displeasure with the Senate rules referee in a call with the majority leader, according to multiple sources.
Kevin Lamarque/ReutersTwo prominent Republican Africa staffers leave Capitol Hill
Their exits leave an incoming Africa official with one less bridge to Capitol Hill at a fraught moment for US-Africa relations.
Jonathan Ernst/ReutersAI skepticism grows among US youth
Polls show that 70% of Americans think AI is moving too fast, partly because of fears over AI’s upending of the job market.
Sophie Park/ReutersGermany overtakes US as South Africa’s second-largest bilateral trade partner
US tariffs hit South Africa’s value-added goods the hardest, with the country’s vehicle and transport equipment sector absorbing the bulk of the damage.
Siphiwe Sibeko/ReutersEbola outbreak declared a global health emergency
The World Health Organization on Sunday declared a global health emergency over an Ebola outbreak in the Democratic Republic of Congo and Uganda.
Victoire Mukenge/Reuters
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PoliticsKevin Lamarque/Reuters Leah Millis/Reuters 
Hannah Beier/Reuters
Trump privately fumes over imperiled ballroom security money
The president aired his displeasure with the Senate rules referee in a call with the majority leader, according to multiple sources.
Kevin Lamarque/ReutersCritics of Trump’s ‘anti-weaponization fund’ have no way to contest it yet
There’s no clear plaintiff to challenge the taxpayer money set to flow to backers of the president.
Leah Millis/ReutersTrapped under ICE: Democrats still tripping over immigration debate
Fights over ICE break out in Democratic primaries.
Hannah Beier/ReutersTrump purges his enemies — while his party gets new problems
Successful retribution in red-state primaries masks the midterm troubles ahead.
Americans are buying now, paying later, poll finds
Thirty-seven percent of lower-income Americans report using installment plans either frequently or occasionally.
Fetterman won’t budge on Iran war powers vote
The Pennsylvania Democrat is unbowed by the intraparty criticism of his votes against ceasing the war.
A corruption election
Take if from Rahm. And brace for a very dark 2028.
Republicans try to resurrect ballroom security funding
Republicans’ first stab at ballroom funding violated the strict budgetary rules governing party-line reconciliation bills.
Trump targets his Republican foes
A Republican senator who voted to convict President Donald Trump in his 2021 impeachment trial lost his primary Saturday, reflecting Trump’s tightening grip on the party despite his waning popularity with voters.
Oil shock in US is testing voters
The historic oil disruption, fueled by the ongoing stalemate in the Strait of Hormuz, is deepening economic divides in the US and casting a shadow over President Donald Trump’s political fortunes.
‘The new era is here’: Fears rise over AI hacking
The Trump administration is being pressed to quickly deliver a plan to address AI-enabled attacks.
Business
Bing Guan/Reuters/File Photo
NextEra’s $67 billion deal pokes the AI bear
Regulators’ approval will test Americans’ anger against AI.
Bing Guan/Reuters/File PhotoOil shock in US is testing voters
The historic oil disruption, fueled by the ongoing stalemate in the Strait of Hormuz, is deepening economic divides in the US and casting a shadow over President Donald Trump’s political fortunes.
Air India to cut international flights due to fuel shortages
The cuts deepen the turmoil at Air India, following a devastating crash last year and the departure of its CEO.
US set to drop Adani bribery case
Asia’s richest man was under investigation for bribing officials and misleading US investors.
Trump says China to purchase 200 Boeing jets
The announcement marked one of the first major deals to come out of the Beijing summit.
Technology
Manuel Orbegozo/Reuters
Manuel Orbegozo/Reuters
Jury rejects Elon Musk’s lawsuit against OpenAI
Elon Musk had alleged that OpenAI chief Sam Altman “stole a charity” when he converted the startup to a for-profit entity.
Manuel Orbegozo/ReutersEveryone lost in Musk v. Altman
The trial revealed the worst side of the leaders running some of our most important tech companies.
Manuel Orbegozo/ReutersNewsom’s floated software tax misses the mark
California’s governor floated a new tax that could add some difficulty for the tech companies selling software out of the state.
Codex untethers AI from the laptop
A new feature allows users to send messages to Codex via the ChatGPT app.
AI-generated papers flood submissions to scientific journals
arXiv, the largest host of pre-peer-reviewed scientific papers, will now ban scientists for a year if their research contains hallucinated references.
The Class of 2026 is cooked
Graduates ask in the AI era: “What am I doing with my life?”
Energy
Brendan McDermid/Reuters
Evelyn Hockstein/Reuters
US’ record energy exports drive up fuel prices at home
The US shipped 14.2 million barrels of crude and products daily in April.
Brendan McDermid/ReutersNextEra deal with Dominion sets up largest global utility
US power company NextEra Energy said it was acquiring Dominion Energy in a deal that would create the world’s largest utility amid soaring AI-driven energy demand.
Ryanair chief downplays Europe’s jet fuel supply concerns
Michael O’Leary said he had “almost zero concerns” about a jet fuel shortage this summer.
Evelyn Hockstein/ReutersGulf
Evan Vucci/Reuters
Trump suspends planned Iran strikes
The US president said he was holding off attacks on Iran at the behest of Middle East allies.
Evan Vucci/ReutersQatar launches new $30M Tech Venture Fund
The fund will invest in deep tech startups that aim to address global social or climate challenges.
Mubadala Energy backs $13B LNG project on US Gulf Coast
It’s the latest sign of growing Arab Gulf interest in America’s energy industry.
UAE plans new West-East pipeline to bypass Hormuz
The pipeline would allow the UAE to double its export capacity outside the Gulf’s waters.
Abu Dhabi to build Sphere as part of tourism push
Like its sister site in Las Vegas, the Sphere Abu Dhabi will seat up to 20,000, and is part of the city’s efforts to show that its hospitality industry remains unbowed.
China
Kenny Holston/Pool via Reuters
Evan Vucci/Pool/Reuters
Taiwan defends US arms purchases
Taiwan’s leader on Sunday emphasized the island’s sovereignty and the importance of US arms purchases in deterring regional conflict, amid doubts of Washington’s support for Taiwan.
China agrees to trade board with US
China said Saturday it would buy US aircraft and seek mutual tariff reductions, but specifics on agreements following a two-day summit between the countries’ leaders remain elusive.
Kenny Holston/Pool via ReutersTakeaways from the US-China summit
Experts and politicians offer Semafor their assessment of how this high-stakes meeting went from a US perspective.
Evan Vucci/Pool/ReutersAfricaJonathan Ernst/Reuters 
Sameer Al-Doumy/AFP via Getty Images
Two prominent Republican Africa staffers leave Capitol Hill
Their exits leave an incoming Africa official with one less bridge to Capitol Hill at a fraught moment for US-Africa relations.
Jonathan Ernst/ReutersThe battle to ensure Africa’s digital sovereignty
You can let someone else build the infrastructure, but you shouldn’t let them decide how it operates.
Sameer Al-Doumy/AFP via Getty ImagesIntra-Africa commerce could reach 53% if AfCFTA were fully implemented, report finds
In its report the Mo Ibrahim Foundation also said the continent’s manufacturing sector could be boosted by $1 trillion, creating create 14 million jobs by 2035.
Germany overtakes US as South Africa’s second-largest bilateral trade partner
US tariffs hit South Africa’s value-added goods the hardest, with the country’s vehicle and transport equipment sector absorbing the bulk of the damage.
We need to reset Africa’s health algorithm
As AI transforms medicine, African countries risk becoming the raw material for a revolution whose benefits flow elsewhere.
Ebola outbreak declared a global health emergency
The World Health Organization on Sunday declared a global health emergency over an Ebola outbreak in the Democratic Republic of Congo and Uganda.
SecurityEvan Vucci/Reuters 
Mistral CEO Arthur Mensch. Denis Balibouse/Reuters
Trump suspends planned Iran strikes
The US president said he was holding off attacks on Iran at the behest of Middle East allies.
Evan Vucci/ReutersUkraine drone attack targets Moscow
Ukraine’s biggest drone attack on Moscow in more than a year killed at least three people in the city, damaged residential buildings, and targeted an oil refinery, as Kyiv intensifies its strikes deep inside Russia.
Japan, EU seek out AI models for cyber defense
Governments and businesses are racing to detect and fix software vulnerabilities before AI systems get to them first.
Mistral CEO Arthur Mensch. Denis Balibouse/ReutersMedia
New arts magazine Totei to focus on the ‘creative process’
The online magazine will publish content weekly, including profiles of artists and musicians, photo essays, reported features, and interviews.
Fortune chairman joined Trump interview
Editor-in-chief Alyson Shontell conducted the interview with the president.
Paramount seeks to calm California’s creatives — and a litigious attorney general
Paramount is racing to reassure Hollywood that its takeover of Warner Bros. Discovery, with its HBO streaming service, isn’t aimed at killing movie theaters.
CBS’ Tony Dokoupil to broadcast from Taiwan after failing to get China visa in time
It was a stumble in the network’s efforts to play a leading role in this week’s dominant global story.
Hollywood appears to avoid Cannes Film Festival
Only two American entrants are competing for the Palme d’Or, both relatively small and financed outside the US.
CEO Signal
Reckitt Benckiser/Handout via Reuters 
Why Allstate’s Tom Wilson thinks CEOs should create more jobs with AI
The insurance industry veteran says executives have an obligation to do hard things.
Reckitt’s Kris Licht on moving at ‘China speed’
The CEO behind Lysol and Durex ‘pivoted hard’ for a new era of TikTok-driven commerce.
Reckitt Benckiser/Handout via Reuters Dan Schulman’s plan to get Verizon back in the fight
“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.
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