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Intelligence for the New World Economy
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The World at a Glance
Updated 5:46pm EST
1
US and European stocks fell as President Donald Trump’s new global tariff hike triggered a fresh wave of market turmoil.
2Ukraine’s economic reconstruction will cost about $588 billion over the next decade, but its economy has remained resilient during the war.
3UK authorities arrested the country’s former US ambassador, Peter Mandelson, as revelations from the Jeffrey Epstein files continue to reverberate globally.
4OpenAI announced multiyear deals with four major consulting firms, part of the startup’s push to boost enterprise sales.
5China’s ByteDance said it logged 1.9 billion AI interactions during the country’s Spring Festival Gala, as top tech companies’ aggressive holiday giveaway campaigns paid off.
6Investors called on Novo Nordisk to diversify away from obesity after disappointing trial results for a new weight loss drug saw the company’s stock plummet.
Trump pivots after Supreme Court tariff ruling
In a 6-3 decision, the justices invalidated a keystone of the US president’s economic agenda.
Amanda Andrade-Rhodes/ReutersSomalia offers to renew US access to ports
Mogadishu’s offer comes days after the breakaway region of Somaliland reiterated a similar proposal.
Feisal Omar/ReutersStoried, faceless, and stubbornly profitable: The Economist braces for change
A publication famed for its brilliant, monolithic anonymity faces a moment of intense individualization and personalization.
Screenshot/The Economist/YouTubeDemocrats split over restrictions on institutional investors in housing
Some within the party are skeptical that restrictions on institutional investors buying houses would do more than deliver a win for President Donald Trump.
Jonathan Ernst/Reuters Finance firms look to State of the Union for clarity on Trump Accounts
Administration officials have made the children’s savings tool from the megabill a key part of their affordability pitch.
Kevin Lamarque/Reuters Trump’s first Board of Peace meeting leaves questions unanswered
The convening in Washington came with big promises for rebuilding efforts in Gaza.
Kevin Lamarque/ReutersAstraZeneca’s CEO on competing in the new world order
Pascal Soriot says Europe “cannot be naive” about the rivalry with the US and China.
Courtesy of AstraZeneca/Joey Pfeifer/Semafor
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Politics
Courtesy of Analilia Mejía for New JerseyJonathan Ernst/Reuters 
Denis Balibouse/Reuters
A progressive star wants a ‘moratorium’ on deportations
How Analilia Mejía plans to operate in the House if she wins a special election in April.
Courtesy of Analilia Mejía for New JerseyDemocrats split over restrictions on institutional investors in housing
Some within the party are skeptical that restrictions on institutional investors buying houses would do more than deliver a win for President Donald Trump.
Jonathan Ernst/Reuters This year in bad ideas, so far
A few highbrow political memes have captivated the chattering classes in 2026 so far. I thought I would raise a few questions about them.
Denis Balibouse/Reuters Finance firms look to State of the Union for clarity on Trump Accounts
Administration officials have made the children’s savings tool from the megabill a key part of their affordability pitch.
Impact of US government shutdown spreads
The snowstorm on the East Coast means there will be no Senate or House votes until Tuesday.
Supreme Court’s tariffs ruling weakens Trump’s leverage
The US Supreme Court’s ruling striking down most of President Donald Trump’s tariffs marks a major setback for his economic agenda and weakens his ability to wield the duties as a geopolitical cudgel, analysts said.
Howard Lutnick’s old firm did not, in fact, profit from Supreme Court tariff ruling
Cantor Fitzgerald considered selling products tied to the court’s tariff ruling, handed down Friday, but did not, wary of the political sensitivities.
Trump pivots after Supreme Court tariff ruling
In a 6-3 decision, the justices invalidated a keystone of the US president’s economic agenda.
Trump’s first Board of Peace meeting leaves questions unanswered
The convening in Washington came with big promises for rebuilding efforts in Gaza.
Trump gives Iran a 15-day deadline as strikes eyed
President Donald Trump said Iran has 10-15 days “maximum” to reach an agreement with the US on its nuclear program.
Trump hosts first Board of Peace meeting
The organization is ostensibly focused on rebuilding Gaza, but critics fear it has ambitions of unseating the UN as the main forum for global diplomacy.
Business
Jeon Heon-Kyun/Pool via Reuters
Brazil seeks new trade allies amid tariff uncertainty
Brasília and Delhi agreed to a mining pact following Lula’s visit to India last week.
Jeon Heon-Kyun/Pool via ReutersCEOs weigh seeking US tariff refunds after Supreme Court ruling
The Supreme Court ruling cancelling Trump’s tariffs could result in the doling out of refunds, which could amount to billions of dollars.
US Supreme Court block of Trump’s tariffs creates global trade chaos
The ruling blocking the “Liberation Day” tariffs has thrown trade deals into doubt and heaped uncertainty on global business, analysts said.
Uncertainty abounds for countries after US tariff ruling
World governments had a muted reaction to the US Supreme Court ruling against President Donald Trump’s tariffs, as Washington’s trade policy remains clouded in uncertainty.
Supreme Court’s tariffs ruling weakens Trump’s leverage
The US Supreme Court’s ruling striking down most of President Donald Trump’s tariffs marks a major setback for his economic agenda and weakens his ability to wield the duties as a geopolitical cudgel, analysts said.
Technology
Courtesy Abu Dhabi Media Office
Dennis Schneidler-Imagn Images/Reuters
Abu Dhabi’s G42 to build supercomputer for India
At 8 exaflops of capacity, the project makes it competitive with the world’s leading supercomputers.
Courtesy Abu Dhabi Media OfficeNY Gov. Hochul nixes plans for Waymo expansion
Kathy Hochul withdrew her proposal for robotaxi services in areas outside New York City after it drew pushback from transit workers and rideshare drivers.
Dennis Schneidler-Imagn Images/ReutersCan AI predict Trump’s State of the Union address?
AI company Stett predicted Trump’s State of the Union address verbatim using speechwriting tools and analysis of his social media posts.
Microsoft says it can store data for 10,000 years on glass
In a paper published in Nature, Microsoft outlines its solution to preserve data on a durable material called borosilicate glass.
Behind Microsoft’s efforts to push AI adoption
Microsoft is expanding its boot camp for educating employees on AI.
India AI summit attracts money and rivals
The event was a nexus for dealmaking and investment announcements.
Energy
Mike Blake/Reuters
Evelyn Hockstein/File Photo/Reuters
Battery storage prices drop to record low, report finds
Costs were higher for other energy technologies, according to BloombergNEF’s latest report.
Mike Blake/ReutersPerch Energy buys Solstice, deepening US community solar push
Perch Energy’s CEO Bruce Stewart spoke to Semafor about the firm’s purchase of Solstice.
EV sales drop caused decline in US clean investments, report finds
US clean investment experienced its largest quarterly drop in nearly a decade.
Evelyn Hockstein/File Photo/ReutersGulf
Mike Huckabee. Ronen Zvulun/File Photo/Reuters
Middle East states condemn US ambassador’s Israel comments
Mike Huckabee said that Israel had a Biblical right to parts of Iraq, Jordan, Lebanon, and Syria.
Mike Huckabee. Ronen Zvulun/File Photo/ReutersSaudi Arabia expands gaming investments
Riyadh continues to bet big on video games, adopting a multi-tiered approach to dealmaking.
Abu Dhabi’s G42 to build supercomputer for India
At 8 exaflops of capacity, the project makes it competitive with the world’s leading supercomputers.
Saudis display mixed signals toward Israel in new survey
In a new survey of 15 Arab countries, Saudis appeared to be the least opposed to the idea of recognizing Israel.
UAE space probe earns two more years on Mars
Adding an additional Martian year, roughly two of ours, will allow the Emirates Mars Mission to gather more data on seasonal changes.
Africa
Santa Maria beach, Cabo Verde. Michel Porro/Getty Images.Feisal Omar/Reuters
Ecowas proposes major marine protection zone
The world’s high seas — international waters beyond any country’s control — have long been exposed to overfishing, shipping, and plastic pollution.
Santa Maria beach, Cabo Verde. Michel Porro/Getty Images.Somalia offers to renew US access to ports
Mogadishu’s offer comes days after the breakaway region of Somaliland reiterated a similar proposal.
Feisal Omar/ReutersNigerian fintech Fairmoney looks to expand to phones, vehicles
The move is the latest push among African fintechs to broaden services and capture a larger share of customers’ business.
Dangote oil refinery to go public on Nigerian stock exchange
The move would portend a huge win for the Nigerian stock market’s ambition to generate interest for local and foreign investors.
Ethiopia, Eritrea risk new war as tensions escalate
Deteriorating relations between Addis Ababa and Asmara have created a “powder keg” in the region, the International Crisis Group warned.
Relief, but no reset: South Africa recalibrates after US tariff ruling
Pretoria previously faced the highest tariff rate on the continent.
Security
Kiyoshi Ota/Pool via Reuters
Majid Asgaripour/WANA via Reuters
Ricardo Arduengo/Reuters
Japan PM vows defense shakeup over China tensions
Japanese Prime Minister Sanae Takaichi sparked a diplomatic dispute with Beijing last year by saying Tokyo could defend Taiwan if China were to invade.
Kiyoshi Ota/Pool via ReutersTrump issues 15-day warning to Iran on nuclear deal
The US president warned that if Iran does not agree to a deal, “it’s going to be unfortunate for them.”
Majid Asgaripour/WANA via ReutersUS ups pressure on Iran with huge air power assembly
Two aircraft carriers and dozens of land-based planes have moved to the Gulf, enough to wage what experts said could be a sustained war against Iran.
Ricardo Arduengo/Reuters MediaScreenshot/The Economist/YouTube
Storied, faceless, and stubbornly profitable: The Economist braces for change
A publication famed for its brilliant, monolithic anonymity faces a moment of intense individualization and personalization.
Screenshot/The Economist/YouTube‘Survivor’ contestant torches CBS ahead of 50th season premiere
’“They are choosing a side, and they are using your viewership to launder that choice,” said Eliza Orlins.
Jake Sullivan and Jon Finer on trading the Situation Room for a podcasting booth
They helped set the US’ course through an administration beset by international crises. Now, they’re podcasters. It’s been a learning curve.
Watch: Restoring Trust in Media
As trust in news declines and business models evolve, media power is being reshaped by mergers, regulation, and ownership battles.
Apple News’ political honeymoon is over as MAGA ratchets up the pressure
The technology giant has shown in recent months that it can be swayed.
CEO Signal
Courtesy of Port of Long Beach/Joey Pfeifer/Semafor
Courtesy of Calm/Joey Pfeifer/SemaforCourtesy of AstraZeneca/Joey Pfeifer/Semafor
Why the Port of Long Beach is betting that US imports will continue to grow
Noel Hacegaba aims to handle twice as many containers, even as trade tensions mount.
Courtesy of Port of Long Beach/Joey Pfeifer/SemaforCalm’s CEO on the mental health struggle at the top of big companies
David Ko sees stress and sleep deprivation taking a toll on executives’ decision-making.
Courtesy of Calm/Joey Pfeifer/SemaforAstraZeneca’s CEO on competing in the new world order
Pascal Soriot says Europe “cannot be naive” about the rivalry with the US and China.
Courtesy of AstraZeneca/Joey Pfeifer/SemaforAD