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Competition to provide satellite internet heats up in Africa
View / The Gulf will not see Iran the same way again
The World at a Glance
Updated 6:29pm EDT
1
Apple named John Ternus as its new CEO effective Sept. 1, replacing Tim Cook, who led the US tech giant for 15 years.
2The US and Iran appear poised to hold a second round of talks in Pakistan following several days of confusion over diplomatic efforts.
3The Iran conflict’s geopolitical volatility is rattling oil traders and derailing expectations of a Middle East drilling boom.
4Supply disruptions from the Middle East are forcing Asian countries to focus on energy self-sufficiency.
5Russia may scrap a crucial spending rule as the Ukraine war puts the economy under pressure.
6Chinese tech giant ByteDance’s profit fell more than 70% on the company’s aggressive AI push.
Iran threatens retaliation after US attacks ship
The war is revealing a rift between Iran’s political leaders and its hardline military, according to reports.
US Navy/File photo/Handout via ReutersSenate braces for Trump’s Fed chair pick
However, Kevin Warsh’s nomination may not go any further.
Tasos Katopodis/Getty Images for SemaforRepublicans face down massive April to-do list
They have a lot to do — and little time to do it.
Evelyn Hockstein/Reuters Businesses start applying for US tariff refunds
The government estimates it will take 60 to 90 days for firm to receive refunds after their applications are accepted.
Carlos Barria/Reuters US commerce secretary lashes out at Canada ahead of trade talks: ‘They suck … Is this nuts?’
Howard Lutnick spoke at Semafor World Economy months before USMCA is due for an extension.
Nigerian airlines pause plan to shut down operations countrywide
Airlines have been among the businesses hardest hit by the impact of the Iran war.
Olukayode Jaiyeola/NurPhoto via Getty Images.Rogan flanks Trump for new order promoting psychedelics research
Health secretary Robert F. Kennedy Jr., who has joined the prominent podcaster in touting the drugs’ benefits, also joined the Oval Office signing.
Nathan Howard/ReutersAD
Politics
Chip Somodevilla/Pool via Reuters
Kris Tripplaar/SemaforTasos Katopodis/Getty Images for Semafor
US, Iran talks appear to be back on
US Vice President JD Vance, who led the Washington delegation in earlier failed discussions, is expected to leave for Pakistan on Tuesday.
Chip Somodevilla/Pool via ReutersA resilient economy, despite it all
There is a growing belief in the resilience of the US economy in the face of whatever gets thrown at it.
Kris Tripplaar/SemaforSenate braces for Trump’s Fed chair pick
However, Kevin Warsh’s nomination may not go any further.
Tasos Katopodis/Getty Images for SemaforRepublicans face down massive April to-do list
They have a lot to do — and little time to do it.
Businesses start applying for US tariff refunds
The government estimates it will take 60 to 90 days for firm to receive refunds after their applications are accepted.
Hormuz uncertainty compounds global energy concerns
Fresh uncertainty around the Strait of Hormuz over the weekend compounded concerns over global energy supplies ahead of a busy travel season.
US seizes Iranian ship as strait is closed
The US struck and seized an Iranian-flagged cargo ship trying to evade a blockade in the Gulf of Oman, President Donald Trump said Sunday, as Tehran reversed its decision to reopen the Strait of Hormuz.
Mark Carney calls Canada’s US ties a weakness
Canadian Prime Minister Mark Carney on Sunday said his country’s close ties to the US have become “weaknesses,” shortly after the US commerce secretary blasted Canada’s trading strategy.
Rogan flanks Trump for new order promoting psychedelics research
Health secretary Robert F. Kennedy Jr., who has joined the prominent podcaster in touting the drugs’ benefits, also joined the Oval Office signing.
Democratic group dings Collins on Iran in new ad
The ad urges the Maine Republican senator to “stop supporting Trump’s war, Mainers can’t afford it.”
State pressed on reported plan to condition health aid to Zambia
Three Democratic senators expressed concerns to Rubio about a push to gain access to the African country’s copper mines.
Business
Lisi Niesner/Reuters
Hormuz uncertainty compounds global energy concerns
Fresh uncertainty around the Strait of Hormuz over the weekend compounded concerns over global energy supplies ahead of a busy travel season.
Lisi Niesner/ReutersIndian companies rush to make GLP-1s
India’s pharmaceutical companies are in an intense race to create cheaper generic versions of weight-loss drugs after the patent for the active ingredient semaglutide expired in the country.
EU seeks to relax corporate merger rules
The EU is planning a “radical shake-up” of corporate merger guidelines, as it seeks to build global champions capable of competing with US and Chinese firms, the Financial Times reported.
Europe down to six weeks of jet fuel, IEA chief says
The continent is the biggest buyer of jet fuel that is shipped through the Strait of Hormuz, leaving it exposed to supply shocks.
Arvind Krishna, IBM CEO, on Big Bets, AI, and Quantum
Most CEOs have not woken up to the fact that technology is as important as their balance sheet, the IBM Chairman and CEO says in the latest episode of The CEO Signal.
Technology
Tingshu Wang/Reuters
Mario Anzuoni/Reuters
ByteDance profit falls on AI spending
Chinese tech giant ByteDance’s profit fell more than 70% as the company leaned aggressively into AI.
Tingshu Wang/ReutersApple makes a safe choice in a dangerous moment
Apple’s choice of John Ternus to replace CEO Tim Cook signals the company plans to stay its cautious and lucrative course.
Mario Anzuoni/ReutersApple names John Ternus as next CEO
Apple named John Ternus as its new CEO effective Sept. 1, replacing Tim Cook, who led the US tech giant for 15 years.
Rising AI demand sees supplies dwindle and costs rise
The Mac Mini computer is now all but out of stock because the machine is the most cost-effective way to run locally hosted AI agents.
China’s robot half marathon shows off humanoid advances
A bipedal humanoid robot finished a half marathon in China in under 51 minutes, underscoring rapid advancements in the country’s physical AI sector.
CIA creates first intelligence report written without humans
The US intelligence agency may have been the first to write a report using AI, with no human involvement.
Energy
Alexander Manzyuk/Reuters
Aly Song/Reuters
Fabrizio Bensch/Reuters
Russia may scrap spending rule as economy falters amid Ukraine war
Russia may sacrifice a crucial spending rule as the Ukraine war puts the economy under pressure.
Alexander Manzyuk/ReutersAsia focuses on energy security amid war
Supply disruptions from the Middle East are forcing Asia to put a greater focus on energy self-sufficiency.
Aly Song/ReutersGazprom’s German unit eyes privatization
Sefe’s CEO told the Financial Times that the Iran war has accelerated the plans to privatize via a capital raise.
Fabrizio Bensch/ReutersGulf
Creative Touch Imaging Ltd./NurPhoto/Reuters
Abu Dhabi’s international airport opens stores to non-travelers
UAE residents can now register online, collect a digital QR code at the door, and spend up to four hours shopping at the airport.
Creative Touch Imaging Ltd./NurPhoto/ReutersClimate finance fund ALTÉRRA looks to meet long-term energy demand
Abu Dhabi’s climate finance fund has a robust pipeline of potential deals, its CEO Majid Al-Suwaidi said at Semafor World Economy.
Bahrain takes aim at disloyal citizens amid Iran war
Bahrain’s King ordered officials to act against those who “betrayed the nation” — an edict that could lead to citizenship being stripped from some locals.
Abu Dhabi considers China investment consolidation
The plan would involve merging the China assets of two of its sovereign wealth funds.
US-Iran ceasefire nears expiry date, extension in doubt
Over the weekend, Iran reportedly fired on at least two ships that were attempting to sail through the Strait of Hormuz.
Africa
Amr Abdallah Dalsh/Reuters
Alexis Huguet/AFP via Getty Images
Competition to provide satellite internet heats up in Africa
SES, Amazon, and Starlink are all competing to bring Africa’s population online via satellite internet.
Amr Abdallah Dalsh/ReutersMajor kidney genomic study in Africa finds new risk factors
Researchers found new genetic variants driving chronic kidney disease, offering potential targets for future drugs or diagnostic tools.
Alexis Huguet/AFP via Getty ImagesAfrica’s insurance sector buoyed by growing middle class
The market is expected to top $166 billion by 2034, up from $98.5 billion in 2025, global market research firm IMARC Group forecast.
China’s solar panel exports to Africa surged in 2025
China exported 18.8 gigawatts of solar panels to Africa last year, 48% more than in 2024, according to new analysis from the energy think tank Ember.
Pope Leo XIV’s 11-day Africa tour
Africa is the fastest-growing part of the Catholic Church worldwide, accounting for nearly 300 million believers in 2024.
Nigerian airlines pause plan to shut down operations countrywide
Airlines have been among the businesses hardest hit by the impact of the Iran war.
SecurityAlexander Manzyuk/Reuters 
Drills conducted by Japan and the Philippines in 2023. Eloisa Lopez/Reuters
Frank Simon/Reuters
Russia may scrap spending rule as economy falters amid Ukraine war
Russia may sacrifice a crucial spending rule as the Ukraine war puts the economy under pressure.
Alexander Manzyuk/ReutersJapan joins South China Sea drills for first time
The drills, led by the US and the Philippines since 2001, are seen as a response to growing Chinese assertiveness in the region.
Drills conducted by Japan and the Philippines in 2023. Eloisa Lopez/ReutersNew EU rules spark airport delays
Travelers from non-EU countries must register their personal information and biometrics the first time they enter the bloc.
Frank Simon/ReutersMedia
Kris Tripplaar/Semafor
LeBron James is getting ready for his post-NBA media career, partner says
In an appearance at last week’s Semafor World Economy gathering, Maverick Carter said that changes in the tech and media landscape will allow James some flexibility in terms of his next moves once he retires — which could be as soon as later this month.
Kris Tripplaar/SemaforCNN backpedals after booker turns away guest for merger segment
“No one advised any editorial employee at CNN not to pursue this story,” a CNN spokesperson said.
Writer of media newsletter recapping media newsletters suspended after errors
Mediaite’s One Sheet newsletter has grown increasingly error-prone.
Gulf media crackdown sanitizes images of the war
Some international wires have halted conflict photography in the UAE since the arrest of photojournalists there.
How Bluesky earned its reputation — and why it could be the way of the future
Bluesky COO Rose Wang on how her company got to 40 million users.
CEO Signal
Issei Kato/Reuters 
Ancestry/YouTube
Richard Bord/Getty Images for Cannes Lions
How Ivan Espinosa got Nissan to face reality
Nissan’s vehicle sales and share price have plummeted. Espinosa has a mandate to turn them around.
Issei Kato/Reuters How old records and new AI technology brought growth back to Ancestry
CEO Howard Hochhauser says the site had stopped listening to its customers.
Ancestry/YouTubeRichard Edelman on trust, ‘Succession,’ and how to advise a CEO
The C-suite adviser says clients should spend more time hearing their critics.
Richard Bord/Getty Images for Cannes LionsAD