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Intelligence for the New World Economy
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The World at a Glance
Updated 7:19am EDT
1
Hamas is carrying out a bloody crackdown on armed rivals, in an apparent attempt to reassert itself amid a fragile Gaza truce.
2Donald Trump threatened military strikes against Venezuela and said he had authorized CIA operations in the country, sharply escalating tensions.
3US journalists handed in their Pentagon press badges in protest at new rules that restrict their ability to report.
4A US judge halted the White House’s attempt to lay off thousands of federal workers as the government shutdown drags on.
5Norway declared victory in its effort to phase out gas car sales, with 95% of new cars sold this year electric.
6Driverless taxi company Waymo plans to launch its robotaxis in London from next year, its first European venture.
Europe will be ‘number 3 at best’ in AI race: Belgium bank governor
Speaking at Semafor’s World Economy Summit, Pierre Wunsch said European regulators put more emphasis on redistribution than risk.
Pierre Wunsch. Paul Morigi/Getty Images for Semafor.New stablecoin law could be an ‘opportunity,’ Zelle owner says
The executive stopped short of announcing any new stablecoin project at the company, saying their customers aren’t asking for it.
Cameron Fowler. Paul Morigi/Getty Images for SemaforUSA Rare Earth CEO welcomes government intervention
Increased government intervention in the US rare earth sector could lift the entire industry as it tries to build supply chains independent of China, USA Rare Earth CEO Barbara Humpton said at Semafor’s World Economy Summit.
Paul Morigi/Getty Images for SemaforPNC’s Mark Wiedman on its march to megabank status
Speaking at Semafor’s World Economy Summit, the president of the nation’s sixth-largest bank said its latest acquisition edges it closer to joining the big bank leagues.
Paul Morigi/Getty Images for SemaforAD
Saudi consumer spending fuels coffee shop IPO rush
Saudi coffee shop chains and a health care products distributor plan to list in the next 12-18 months.
Hamad I Mohammed/ReutersRenewables must be American and subsidy-free: Trump adviser
Speeding up fossil fuel projects will help them stand up to renewables, says energy strategy head Jarrod Agen.
Jarrod Agen. Paul Morigi/Getty Images for SemaforChina rare earth export curbs a ‘lose-lose’ for everyone, Spain economy minister says
“We are very concerned because of the potential impact” of the growing US-China trade spat, Carlos Cuerpo said at Semafor’s World Economy Summit.
Spanish Economy Minister Carlos Cuerpo. Paul Morigi/Getty Images for Semafor.
Politics
Mostafa Bassim/Anadolu via Getty Images.
Kent Nishimura/Reuters
Gaby Oraa/Reuters
US journalists protest over Pentagon press crackdown
Journalists from every major news organization gave their press passes back in protest over new reporting rules.
Mostafa Bassim/Anadolu via Getty Images.US judge halts layoffs amid government shutdown
The Trump administration had outlined plans to lay off 4,100 workers during an ongoing government shutdown, now in its sixteenth day.
Kent Nishimura/ReutersUS forces could take covert action inside Venezuela
President Donald Trump seemed to confirm a New York Times report that his administration had authorized covert action by the CIA inside the country.
Gaby Oraa/ReutersWarren probes Treasury over ‘baffling’ Argentina aid
The Massachusetts Democrat is requesting more information on the Treasury Department’s effort to shore up Argentina’s economy.
GOP launches ad backing Collins as Mills enters Senate race
One Nation, a nonprofit aligned with GOP leaders, is spending nearly $1 million in an effort to promote the Maine Republican’s accomplishments.
Why Congress needs Trump to end the shutdown
Democrats are betting he’s more open to a deal than the Hill GOP. But so far, the president is prepared to go another way — outlasting their desire for talks.
Yes kings? Republicans revel in Trump’s imperial presidency
With a few libertarian exceptions, Republicans see a lot to like about Donald Trump stripping power from the legislative branch.
Trump eyes another $20B for Argentina via ‘private-sector solution’
Treasury Secretary Scott Bessent told reporters about the new move on Wednesday.
GOP congressman says ‘no one’ wants to see shutdown firings
Rep. Mike Haridopolos, R-Fla., defended Republicans’ position at the Semafor World Economy Summit.
US Supreme Court hears crucial voting rights case
At issue in Louisiana v. Callais is a law that bars election practices that discriminate based on race, including racial gerrymandering.
White House drops nominees as shutdown drags on
The withdrawals seem to be intentionally timed.
BusinessPaul Morigi/Getty Images for Semafor
USA Rare Earth CEO welcomes government intervention
Increased government intervention in the US rare earth sector could lift the entire industry as it tries to build supply chains independent of China, USA Rare Earth CEO Barbara Humpton said at Semafor’s World Economy Summit.
Paul Morigi/Getty Images for SemaforMore ‘sanity’ needed in online betting markets, NYSE president says
NYSE’s parent company recently invested $2 billion into Polymarket, a leading online predictions site.
Walmart US CEO on tariffs: Customers are ‘resilient’
John Furner does not see new tariffs having a detrimental impact on the retail giant or its customer base, he said during Semafor’s World Economy Summit.
Companies staying private for longer ‘a good thing,’ NYSE Group president says
An ongoing government shutdown won’t torpedo fledgling momentum in the IPO market, Lynn Martin said at Semafor’s World Economy Summit.
John Hancock to offer cancer detection tests to retirement clients
The life insurer extends plan to encourage healthy behavior as it warns that Americans are unprepared for lengthening lifespans.
Technology
Paresh Dave/File Photo/Reuters
Kim Kyung-Hoon/File Photo/Reuters
Waymo robotaxis to launch in Europe
The first autonomous vehicles will start to appear on London streets in the next few weeks, as the company maps the city and trains its software.
Paresh Dave/File Photo/ReutersGM’s pullback from EVs a signal to tech industry
GM’s woes are the product of an American industrial policy that is not working the way it should.
Kim Kyung-Hoon/File Photo/ReutersDirecTV adds AI avatars to TV breaks for personalized shopping
The capability highlights broader privacy concerns around the integration of AI into users’ homes, personal devices, and everyday lives.
OpenAI eyes Argentina for data center expansion
The proposal could see an investment of up to $25 billion into the country, equivalent to roughly 4% of its 2024 GDP.
Talent giant CAA taps lobbyists on Hollywood AI issues
The talent agency’s move builds on the intensified lobbying efforts by Hollywood unions and production studios in recent years.
SpaceX’s Starship nails 11th test flight
The rocket’s successful flight takes SpaceX even closer to its goal of putting humans on the moon, and eventually Mars.
Energy
Steve Marcus/Reuters
Impossible Foods CEO Peter McGuinness. Paul Morigi/Getty Images for Semafor.
Leonhard Foeger/Reuters
The US is paying the price for complacency with China. Time is running out.
Washington did not heed the lessons of an episode a generation ago. Now it’s paying the price.
Steve Marcus/ReutersImpossible Foods CEO says climate-based marketing a ‘mistake’
Introducing fake meat as a climate solution made the industry a political target, Impossible Foods CEO Peter McGuinness said.
Impossible Foods CEO Peter McGuinness. Paul Morigi/Getty Images for Semafor.Norway declares victory in move away from gas cars
Eighty-nine percent of all cars sold in the country last year were electric, and that figure has risen to more than 95%.
Leonhard Foeger/ReutersGulf
Evelyn Hockstein/Reuters
Arabs cheer Trump’s peace deal but wary of Israeli spoilers
Trump’s personal diplomacy has paused the horrors in Gaza and returned hostages. Durable peace will require engagement.
Evelyn Hockstein/ReutersSaudi consumer spending fuels coffee shop IPO rush
Saudi coffee shop chains and a health care products distributor plan to list in the next 12-18 months.
Gulf gets IMF economic growth upgrade
Faster growth in the Gulf region is driven by rising oil production, the financial institution said.
Abu Dhabi’s MGX part of $40B Aligned Data Centers acquisition
Aligned designs, builds, and operates data centers, and has a portfolio of 50 facilities with more than 5 gigawatts of operational and planned capacity.
Dubai court rejects billionaire’s claim of signature-forging contest
B.R. Shetty was once heralded as a UAE success story, building NMC into the country’s biggest health care group before its collapse.
Africa
Arne Dedert via Getty Images
Nqobile Dludla/Reuters
BioNTech secures $110 million for Rwanda vaccine plant
The World Health Organization estimates that Africa produces only 1% of the vaccines it uses, making it vulnerable to supply shocks.
Arne Dedert via Getty ImagesWashington business lobby group pushes for US-Africa minerals finance
The US Chamber of Commerce said American government bodies must be allowed to take more equity stakes in African mining projects.
Nqobile Dludla/ReutersKenya’s former Prime Minister Raila Odinga dies aged 80
Odinga, who unsuccessfully ran for the presidency five times, was a veteran opposition leader who played a defining role in Kenyan politics.
Elite military unit says it seized power in Madagascar
Madagascar’s president fled the country on Monday following weeks of protests.
Nigeria is in danger of running afoul of Trump’s ‘Christian’ ire again
US Senator Ted Cruz last month introduced a bill to ‘protect Christians and other religious minorities’ by imposing sanctions on Nigerian officials accused of ‘facilitating’ jihadist violence.
Cameroon election tensions mount as opposition leader claims victory
Opposition leader Issa Tchiroma Bakary is calling on President Paul Biya to concede.
Security
Al Drago/Reuters
Ukrainian Presidential Press Service/Handout via Reuters
Mette Frederiksen. Ritzau Scanpix/Ida Marie Odgaard/via Reuters
Trump considers sending long-range missiles to Ukraine
The move marks a significant warming of ties since Donald Trump and Ukrainian President Volodymyr Zelenskyy’s Oval Office spat in February.
Al Drago/ReutersUkraine, US preparing deal to share drone tech for arms
Ukraine has received US weapons for years, but since 2022 it has, by necessity, become a world leader in cheap battlefield drones.
Ukrainian Presidential Press Service/Handout via ReutersRussia and NATO in a state of ‘hybrid war,’ Danish PM says
Mette Frederiksen said that the military alliance must step up its response to Russian aggression after repeated incursions into its airspace.
Mette Frederiksen. Ritzau Scanpix/Ida Marie Odgaard/via ReutersMediaMostafa Bassim/Anadolu via Getty Images.
US journalists protest over Pentagon press crackdown
Journalists from every major news organization gave their press passes back in protest over new reporting rules.
Mostafa Bassim/Anadolu via Getty Images.Alison Roman on cookbooks, food influencers, and the surprising way AI is changing her recipes
Alison Roman was one of digital media’s first food stars. With her latest cookbook, she’s trying to move away from life on the Internet.
Blackbird Spyplane’s Jonah Weiner on Substack, resisting selling out, and Obama’s pants legacy
Blackbird Spyplane, a style and culture newsletter, launched in 2020 as one of the early adopters and success stories on Substack.
Can MS survive without NBC? Inside CEO Mark Lazarus’ efforts to save cable’s great brands
MSNBC and 10 other television channels are splitting from NBC over the next several weeks to form a new digital-focused, publicly traded company called Versant.
Outkick founder considering leaving Fox to start new media project
The conservative sports brand Outkick was acquired by Fox Corp. in 2021.
CEO Signal
Joey Pfeifer/Semafor
Joey Pfeifer/Semafor
Joey Pfeifer/Semafor
How Jamie Iannone made eBay an investor collectible
The e-commerce veteran is using AI and customer insights to reduce the “friction” that deters many buyers and sellers.
Joey Pfeifer/SemaforEcolab’s Christophe Beck warns CEOs: ‘There is no growth without water’
The water treatment company’s CEO says AI data center demand is making smart management of scarce resources an imperative.
Joey Pfeifer/SemaforJim Farley’s ‘essential economy’ drive at Ford
The automaker’s CEO sees ‘deep trouble’ among the commercial customers who buy its trucks and vans.
Joey Pfeifer/SemaforAD