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Intelligence for the New World Economy
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The World at a Glance
Updated 5:46pm EST
1
Ukrainian President Volodymyr Zelenskyy met France’s Emmanuel Macron to discuss security guarantees, as Kyiv turns to its European allies amid a US-led push to end Russia’s war.
2President Donald Trump is expected to discuss Venezuela with his top advisers in an Oval Office meeting, as he ramps up his pressure campaign against Caracas.
3Israeli Prime Minister Benjamin Netanyahu requested a pardon from the country’s president over corruption charges.
4Donald Trump and Venezuela’s leader Nicolás Maduro held their first conversation since Washington’s military buildup in the region began.
5Major floods in South and Southeast Asia have killed more than a thousand people in recent days.
6South Africa arrested five men suspected of planning to join Russia’s armed forces in Ukraine.
Fight over state-level AI rules heats up in Congress
Republicans are split over whether to add a moratorium on state-level AI regulation to must-pass defense legislation.
Jonathan Ernst/Reuters How Joe Preston got New Balance back in the race
The sneaker brand’s CEO says problem-solving “sprint” teams have been key to turning around its revenues and reputation.
Courtesy of New Balance/Joey Pfeifer/SemaforZelenskyy’s powerful chief of staff resigns amid corruption probe
The Ukrainian president is under pressure to take greater accountability over a corruption scandal that has ensnared members of his inner circle.
Zelenskyy and Andriy Yermak. Violeta Santos Moura/File Photo/ReutersDC shooting deepens tensions over National Guard deployments
The man suspected of shooting two US National Guard members in Washington, DC, worked for a CIA-backed paramilitary force in Afghanistan, the agency said.
Nathan Howard/Reuters AD
How 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/SemaforNigeria declares security emergency and names diplomats amid US tensions
The moves come after Washington threatened Abuja with sanctions over the treatment of the country’s Christians.
Sodiq Adelakun/ReutersHong Kong high-rise fire fuels anger over housing crisis
The deadly inferno that engulfed a Hong Kong apartment complex has deepened public anger over the city’s lack of affordable housing.
Tyrone Siu/Reuters
Politics
Anna Rose Layden/Reuters
Sputnik/Vyacheslav Prokofyev/Pool via ReutersJonathan Ernst/Reuters
Trump’s push against Venezuela faces Republican blowback at pivotal moment
The president may be close to a decision on expanding military pressure on Caracas. But his party’s lawmakers are chafing at the administration’s latest moves.
Anna Rose Layden/ReutersFor sale: A bridge to Moscow
As soon as Donald Trump returned to office, chatter rippled through the world of would-be Russia investors that there might be business to be done.
Sputnik/Vyacheslav Prokofyev/Pool via ReutersFight over state-level AI rules heats up in Congress
Republicans are split over whether to add a moratorium on state-level AI regulation to must-pass defense legislation.
Jonathan Ernst/Reuters Democrats push armed security for lawmakers
Rep. Joe Morelle, the party’s top member on the House Administration Committee, discussed the new effort with Semafor.
DC shooting deepens tensions over National Guard deployments
The man suspected of shooting two US National Guard members in Washington, DC, worked for a CIA-backed paramilitary force in Afghanistan, the agency said.
Trump’s AI agenda sails toward an iceberg of bipartisan populist fury
The AI industry’s new super PAC picked its first political target this month — and missed.
House aims for ‘worldwide threats’ hearing with Noem next month
If and when the committee finalizes the December date, there will be lots to talk about.
Trump’s AI, health care plans in limbo after leaks
Republicans are making no secret of being divided over the ideas.
Trump orders probe into Democrat lawmaker Mark Kelly
Sen. Mark Kelly appeared in a video together with other Democrat lawmakers telling serving soldiers not to follow illegal orders.
New US government data to clarify murky economic picture
The Federal Reserve will mull several new data points as its members consider whether to cut interest rates.
Mark Kelly becomes Trump’s newest target
The Arizona Democrat appeared in a video discouraging national security members from following illegal orders.
BusinessThe Manufacturing Institute/Joey Pfeifer/Semafor
How 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/SemaforHow Joe Preston got New Balance back in the race
The sneaker brand’s CEO says problem-solving “sprint” teams have been key to turning around its revenues and reputation.
China buying more US-made goods, Washington says
Beijing offered to increase imports of US commodities in order to lower tensions.
Russia’s oil and gas revenues expected to plummet
The country’s oil and gas revenues are expected to fall 35% this month, year-on-year.
‘Florida is Full’: James Fishback’s running pitch for governor
The investment firm CEO with ties to Trump is taking a fierce MAGA approach in an attempt to beat Republican Rep. Byron Donalds in the race.
Technology
Dado Ruvic/Illustration/File Photo/Reuters
Gemini is most ‘empathetic’ AI model, test shows
AI journaling app Rosebud tested 25 models across mental health-related scenarios.
Dado Ruvic/Illustration/File Photo/ReutersJigsaw CEO Yasmin Green on the power of AI in polling
Green told Semafor she believes her company has found a way to use AI to improve political discourse.
No AI is conscious yet, but future systems may be, new study finds
The research raises philosophical and moral questions about “seemingly conscious” machines.
Deloitte faces new scrutiny over suspected AI-generated mistakes
A Canadian province asked Deloitte to review a $1.6 million report it created for the Department of Health and Community Services, which contains inaccurate citations.
Nvidia’s strengths are not in its X posts
Nvidia’s post responding to a story about Meta acquiring Google chips seemed oddly defensive for a tech giant clearly playing offense.
Box CEO Aaron Levie on the paradoxes of AI
Levie spoke to Semafor Tech Editor Reed Albergotti about why the AI age is essentially paradoxical.
Energy
Wiring sits inside a Microsoft data center. Audrey Richardson/Reuters.
Stringer/File Photo/Reuters
Andreea Campeanu/Reuters
Schneider to fast-track electricians to meet data center demand
The French firm already trains 10,000 electricians a year globally and is looking to boost that figure, an executive told Semafor.
Wiring sits inside a Microsoft data center. Audrey Richardson/Reuters.Oil prices tip down on oversupply fears, Ukraine talks
Cheaper oil, and the effect of US and European sanctions, are expected to push Russia’s oil and gas revenue down 35%, Reuters reported.
Stringer/File Photo/ReutersSmall nuclear reactor startups set for wave of consolidation
X-energy, an SMR startup backed by Amazon, closed one of the largest-ever fundraising rounds for that technology on Monday.
Andreea Campeanu/ReutersGulf
A view of ADGM. Courtesy of ADGM.
Abu Dhabi private equity firm BlueFive looks to consolidate Gulf insurers
The firm raised $2 billion for its first buyout fund this year with a view to later expand across Southeast Asia.
A view of ADGM. Courtesy of ADGM.Saudi plans to double Japan investments to $27B by 2030
Japan is one of Saudi Arabia’s top trading partners, driven by the kingdom’s oil exports and purchases of Japanese cars, machinery, and electronics.
UAE National Day marks a risk that remade the Gulf
On Dec. 2, 1971, six rival sheikhs made a historic decision, forming the UAE a day after Britain pulled its military out of the region.
Saudi budget to reveal strain of lower oil prices on kingdom’s transformation
Investors and businesses are watching to see how spending and borrowing plans will impact the kingdom’s economy at a time of weaker oil prices.
Kuwait leads other Gulf nations in wealth as a percentage of GDP
A report by Global SWF also showed that the Qatar Investment Authority was the biggest spender among global sovereign funds in November.
Africa
Siphiwe Sibeko/Reuters
Akintunde Akinleye/Reuters
South Africa manufacturing mood drops to weakest level since COVID
Sentiment dropped sharply in November due to weak export sales, an influential survey showed.
Siphiwe Sibeko/ReutersShell buys TotalEnergies’ stake in Nigerian oil field
Shell’s Nigeria subsidiary now owns 65% of the deepwater Bonga field in southern Nigeria.
Akintunde Akinleye/ReutersAfrican nations push to recognize crimes of colonialism
At least 12.5 million people were enslaved and forcibly transported from Africa between the 15th and 19th centuries.
Africa’s instant payments worth almost $2 trillion, report finds
The number of instant payment systems in Africa rose to 36 across 25 countries between July 2024 and June this year
EU sells banned pesticides to Africa
Agriculture employs more than half of the continent’s population and contributes around 35% of its GDP.
Timing of Guinea-Bissau coup raises key questions
Democratic institutions had been weakened at home — and in the region — in the years running up to this latest military takeover.
Security
Leonardo Fernandez Viloria/Reuters
Ann Wang/Reuters
US Special Envoy Steve Witkoff. Sputnik/Kristina Kormilitsyna/Pool via Reuters.
Maduro strikes defiant tone amid rising US tensions
“Failure is not an option at this crucial juncture,” a sword-brandishing Maduro said in a fiery address to supporters in Caracas.
Leonardo Fernandez Viloria/ReutersTaiwan pledges extra $40B for defense to counter China threat
Tensions have ramped up in the region after Japan’s leader said Tokyo may intervene militarily if Beijing sought to invade Taiwan.
Ann Wang/ReutersUS envoy, Putin to discuss new Ukraine peace plan
US envoy Steve Witkoff is set to meet with Russian President Vladimir Putin next week.
US Special Envoy Steve Witkoff. Sputnik/Kristina Kormilitsyna/Pool via Reuters.Media
Tasos Katopodis/Getty Images for Nuclear Now
Vanity Fair expected to let Olivia Nuzzi’s contract lapse, insiders say
Just weeks after Vanity Fair published an excerpt of Olivia Nuzzi’s book, it’s increasingly unlikely she’ll be a fixture on its print masthead.
Tasos Katopodis/Getty Images for Nuclear NowUK’s The Telegraph to be taken over by rival Daily Mail
The outlet has been for sale since its previous owners ran up unsupportable debts and were removed in 2023.
How Trump is trying to remake American culture — starting with his favorite buddy-cop franchise
The president is offering some creative input on potential upcoming projects.
CNN drops out of Apple News feed, for now
The two companies are continuing to discuss a new deal that would restore CNN’s stories to Apple News.
Can the Supreme Court keep its secrets? With Jodi Kantor of the New York Times
New York Times investigative reporter Jodi Kantor joins Mixed Signals to explain how she’s revealed the secrets of internal deliberations behind the ceremony and black robes of the US Supreme Court.
CEO SignalThe Manufacturing Institute/Joey Pfeifer/Semafor Courtesy of New Balance/Joey Pfeifer/Semafor 
Courtesy of Four Seasons/Joey Pfeifer/Semafor
How 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/SemaforHow Joe Preston got New Balance back in the race
The sneaker brand’s CEO says problem-solving “sprint” teams have been key to turning around its revenues and reputation.
Courtesy of New Balance/Joey Pfeifer/SemaforA man for Four Seasons: Alejandro Reynal’s ‘intentional growth’ plan
The luxury hotel brand’s CEO says knowing where his brand has the right to win is the key to its global expansion.
Courtesy of Four Seasons/Joey Pfeifer/SemaforAD