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Intelligence for the New World Economy
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View / The humans are chasing conspiracies. What will the bots think?
View / Multilateral development banks are plugging financing gaps in Africa
The World at a Glance
Updated 5:30pm EST
1
Xi Jinping called for the yuan to become a global reserve currency, as China looks to play a larger role in international finance.
2India’s annual budget prioritizes fiscal discipline and manufacturing, but it failed to impress investors who wanted bolder reforms.
3An Emirati royal took a stake in Donald Trump’s family’s cryptocurrency company last year, raising conflict of interest concerns.
4Donald Trump’s nominee to chair the Federal Reserve, if confirmed, would encounter a range of economic and political challenges.
5Fallout from a newly released batch of files related to Jeffrey Epstein has so far largely hit outside the US.
6Moltbook, a social network populated by tens of thousands of AI agents having conversations, bypasses humans entirely.
Trump nominates Kevin Warsh as new Federal Reserve chair
The US president nominated Kevin Warsh, a former Federal Reserve governor, to helm the central bank.
Kevin Warsh. Brendan McDermid/File Photo/ReutersHow IHC’s CEO plans to double the UAE’s $125B investment powerhouse
Syed Basar Shueb says the holding company’s diverse assets can be stitched into “dynamic value networks.”
Courtesy of IHC/Joey Pfeifer/SemaforDemocrats strike deal with White House on government funding
The deal faces uncertainty in the House, which will need to approve it after it passes the Senate.
Nathan Howard/ReutersTakeda’s Christophe Weber on avoiding a ‘lame duck’ succession
The pharmaceutical CEO says timing and openness are crucial to a smooth handover.
Courtesy of Takeda/Joey Pfeifer/SemaforAD
Clashes between ICE and protesters come down to the technology
Activists are creating text alert systems and tracking websites to monitor the whereabouts of federal agents.
Evelyn Hockstein/ReutersInside the House’s spending deal Jenga
The Senate may be having a tough week — but the House may well be about to have a tougher one.
Aaron Schwartz/Reuters Niger leader blames France, Benin, Côte d’Ivoire for airport attack
General Abdourahamane Tiani made the claims without providing any evidence, after an assault in which 20 attackers died.
Niger’s junta leader General Abdourahamane Tiani. Mahamadou Hamidou/File Photo/Reuters.
Politics
Deputy US Attorney General Todd Blanche during a press conference at the Justice Department. REUTERS/Elizabeth Frantz
Kylie Cooper/Reuters
Kylie Cooper/Reuters
The humans are chasing conspiracies. What will the bots think?
Maybe the Reddit-trained bots on Moltbook will prove me wrong, and unearth something in the Epstein files. But for now, the evidence for a conspiracy is thin.
Deputy US Attorney General Todd Blanche during a press conference at the Justice Department. REUTERS/Elizabeth Frantz‘They choose friction’: Trump Fed pick faces a challenge in the Senate
The president can’t get his central bank pick confirmed without the Republican senator’s support — and Trump’s not getting it.
Kylie Cooper/ReutersUS Senate sends funding bill to House
The Senate agreement funds big chunks of the federal government through September, but kicks off a two-week countdown on the expiration of Homeland Security funding.
Kylie Cooper/ReutersTrump slams UK, Canada as both explore closer ties with Beijing
US President Donald Trump warned Britain’s prime minister that it was “very dangerous” to strengthen ties with China.
Debatable: Trump’s national defense strategy
Some are criticizing how the administration’s strategy treats the China threat.
US govt funding lapse could threaten economic data
Some official data is still recovering from the recent government shutdown.
Trump administration eyes drawdown in Minnesota
The White House is hoping the changes will ease some of the bipartisan concerns raised this week over enforcement in the state.
Trump to announce Fed chair pick
His choice will conclude a selection process that spanned more than four months.
Inside the House’s spending deal Jenga
The Senate may be having a tough week — but the House may well be about to have a tougher one.
Democrats strike deal with White House on government funding
The deal faces uncertainty in the House, which will need to approve it after it passes the Senate.
Top House Democrat probes oil firms over Venezuela
California Rep. Robert Garcia is asking oil firms for more information following the Trump administration’s initial sale of Venezuelan crude.
BusinessCourtesy of IHC/Joey Pfeifer/Semafor
How IHC’s CEO plans to double the UAE’s $125B investment powerhouse
Syed Basar Shueb says the holding company’s diverse assets can be stitched into “dynamic value networks.”
Courtesy of IHC/Joey Pfeifer/SemaforTrump nominates Kevin Warsh as new Federal Reserve chair
The US president nominated Kevin Warsh, a former Federal Reserve governor, to helm the central bank.
Takeda’s Christophe Weber on avoiding a ‘lame duck’ succession
The pharmaceutical CEO says timing and openness are crucial to a smooth handover.
Pick your poison in the AI apocalypse
While CEOs from the likes of Anthropic and Robinhood debate AI doomsday scenarios, the new technology faces systemic risk across the board.
Wall Street lines up behind ‘Trump Accounts’
Big US banks are embracing the president’s self-branded retirement accounts for children.
Technology
Denis Balibouse/Reuters
Scale AI CEO Jason Droege (right) and Semafor’s Reed Albergotti. Firebird Films/Semafor.
In the AI age, ‘slow and steady’ doesn’t really win
Every tech company is being judged on the delicate dance between industry transformation and business preservation as AI accelerates.
Denis Balibouse/ReutersScale AI CEO: ‘Near infinite demand’ for AI that works
Scale AI CEO Jason Droege recently sat down with Semafor Tech Editor Reed Albergotti to talk about how companies are leveraging AI to drive growth and stay competitive.
Scale AI CEO Jason Droege (right) and Semafor’s Reed Albergotti. Firebird Films/Semafor.Waymo strikes child in first reported human accident
The incident wasn’t fatal, but foreshadows the response of when autonomous vehicles inevitably cause harm to a human.
New AI model aims to protect coral reefs
University of Miami scientists have developed an AI model that predicts when coral reefs begin experiencing heat stress, aiming to restore them before deadly coral bleaching occurs.
Clashes between ICE and protesters come down to the technology
Activists are creating text alert systems and tracking websites to monitor the whereabouts of federal agents.
Anduril launches new drone racing competition
The winner receives a top prize of $500,000 and a job at the defense tech company.
Energy
Angus Mordant/Reuters
TransAlta/Handout via Reuters
Jim Urquhart/Reuters
Fossil fuel M&A centers on small number of firms, report says
The top 20 acquirers in the last 10 years accounted for 53% of total deal value, research by the consulting firm Bain & Co found.
Angus Mordant/ReutersCanadian battery manufacturer announces major advancements in storage capacity
NEO Battery Materials said in a release first shared with Semafor that its drone batteries achieved a 50% capacity improvement over similar products made by competitors.
TransAlta/Handout via ReutersGlobal energy investment hits record high in 2025
Global spending on the energy transition reached $2.3 trillion last year, according to BloombergNEF.
Jim Urquhart/ReutersGulf
Emirates News Agency-WAM
Abu Dhabi rolls $263B sovereign wealth fund ADQ into new investment vehicle
The Emirate aims to create a sovereign investment powerhouse under its crown prince, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
Emirates News Agency-WAMGulf countries urge de-escalation between US and Iran
Saudi Arabia and the UAE have both publicly said they will not allow their airspace or territory to be used for an attack on Iran.
Trump wants Venezuela. Oil companies prefer Libya
Costs, timelines, and geopolitics matter more than reserves as companies weigh where to deploy capital.
Dubai billionaire Al Habtoor leaves Lebanon, blames government for $1.7B in losses
The billionaire’s real estate conglomerate has invested more than $1 billion sinc 2001 across Lebanon’s hospitality, retail, leisure, real estate, and finance sectors.
Dubai real estate portal Property Finder raises $170M in new financing
The portal that has now raised nearly $1 billion in equity and debt financing from a host of blue-chip backers, including Mubadala, Blackstone, and HSBC.
Africa
An AFDB summit last year. Luc Gnago/Reuters.
Stephanie Lecocq/File Photo/Reuters
Multilateral development banks are plugging financing gaps in Africa
The African Development Bank, World Bank, and New Development Bank could be the lenders supporting African nations through the shuttering of USAID.
An AFDB summit last year. Luc Gnago/Reuters.TotalEnergies to restart major Mozambique gas project
Construction was halted in 2021 following a spate of Islamist attacks along Mozambique’s coast, home to some of the world’s largest gas reserves.
Stephanie Lecocq/File Photo/ReutersGhana, Google ink AI education deal
They aim to develop AI-powered education tools in local languages, starting with Twi, Ewe, Dagbani, and Hausa.
Niger leader blames France, Benin, Côte d’Ivoire for airport attack
General Abdourahamane Tiani made the claims without providing any evidence, after an assault in which 20 attackers died.
Madagascar lifts mining permit ban, Liberia signs new minerals deal
The moves in both countries come as competition for Africa’s natural resources intensifies.
US aid cuts threaten global malaria fight
Washington’s cut to funding comes just as several African nations approach eradicating the disease.
Security
Thomas Peter/File Photo/Reuters
Issei Kato/File Photo/Reuters
Majid Asgaripour/WANA via Reuters
Trump says Russia will pause attacks during cold spell
Temperatures in Ukraine are expected to hit -24°C (-11°F) this weekend; Russian attacks have left millions without heating.
Thomas Peter/File Photo/ReutersChinese tourism to Japan plummets following Taiwan spat
Beijing urged its citizens not to travel to Japan after its prime minister said her country may support Taiwan militarily.
Issei Kato/File Photo/ReutersThreat of US strike on Iran appears to wane
Officials reportedly advised US President Donald Trump that an attack would be unlikely to topple the government.
Majid Asgaripour/WANA via ReutersMedia
The exec behind Canada’s surprise hit ‘Heated Rivalry’ on the secret to its success
Sean Cohan gets into the Canadian-ness of it all on the “Mixed Signals” podcast.
Washington Post’s White House team tries to avert layoffs in letter to Bezos
The effort from the Post’s White House reporters comes as staffers are scrambling to preserve their jobs ahead of impending layoffs.
Rumors of staffing cuts spook Washington Post newsroom
Feared potential targets for cuts include the sports and international desks.
“We’re not trying to recreate social media”: How Minnesota’s Star Tribune navigates a local crisis
The publication tries to offer a sober alternative to a social media swarm as a deadly shooting deepens the crisis in Minneapolis.
Freakonomics’ Stephen Dubner on why long-form podcasting isn’t dead yet
Stephen Dubner has spent 20 years proving that things aren’t what they seem—and now he’s not so sure that’s always true.
CEO SignalCourtesy of Takeda/Joey Pfeifer/Semafor Courtesy of IHC/Joey Pfeifer/Semafor 
Courtesy of Nasdaq/Joey Pfeifer/Semafor
Takeda’s Christophe Weber on avoiding a ‘lame duck’ succession
The pharmaceutical CEO says timing and openness are crucial to a smooth handover.
Courtesy of Takeda/Joey Pfeifer/SemaforHow IHC’s CEO plans to double the UAE’s $125B investment powerhouse
Syed Basar Shueb says the holding company’s diverse assets can be stitched into “dynamic value networks.”
Courtesy of IHC/Joey Pfeifer/SemaforNasdaq’s Adena Friedman on funding the AI ‘marathon’
The exchange CEO says adopting AI in enterprises requires “a massive change management exercise.”
Courtesy of Nasdaq/Joey Pfeifer/SemaforAD