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Intelligence for the New World Economy
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View/ Washington courts African minerals giants as resource race escalates
Rubio to defend Venezuela operation to Congress
The World at a Glance
Updated 7:31am EST
1
Chinese airlines cancelled all flights to Japan, as tensions escalate over Taiwan.
2British Prime Minister Keir Starmer hailed progress on lowering tariffs with China, arguing for a “more sophisticated” relationship.
3Gold, silver, and copper hit record highs on geopolitical turmoil and industrial demand, as confidence in the dollar fell.
4US FBI agents searched offices in Georgia containing records of the 2020 election, a vote which Trump has repeatedly challenged.
5The US Treasury secretary warned Canada’s leader against “virtue signaling” ahead of the impending review of a continental trade pact.
6Iran hit out at growing Western pressure over its nuclear program and a crackdown on protests.
Moreno makes final health care offer to Democrats
The Ohio Republican is pitching a one-year extension of enhanced premium tax credits that expired last year, with some limits.
Kevin Mohatt/ReutersUS withdrawal from multiple UN agencies raises alarm in Kenya
Nairobi is the organization’s largest hub in the Global South.
James Wakibia/SOPA Images/LightRocket via Getty ImagesTrump immigration enforcement under siege from Hill Republicans
From occasional critics of the president to conservative gun-rights advocates, the party is speaking up after Alex Pretti’s death.
Kevin Lamarque/ReutersMiran mired in Fed’s personnel purgatory
Trump’s economic adviser was supposed to step down from the central bank at week’s end. That’s not going to happen.
Louisa Gouliamaki/ReutersAD
Zimbabwe inflation drops to single digits for first time in decades
Authorities hailed it as a “historic milestone” after decades marred by hyperinflation and currency collapse.
Jekesai Njikizana/AFP via Getty ImagesTrump has become the ultimate activist investor, and CEOs are gearing up for battle
CEO whisperers and takeover experts are getting more sophisticated around how to fend off, or woo, the US president.
Brendan McDermid/ReutersTrump shifts course — somewhat — in Minnesota after shooting
The president is shaking up enforcement and talking more about working with local officials. Whether it means long-term deescalation is another matter.
Kevin Lamarque/Reuters
Politics
Annabelle Gordon/Reuters 
Brendan McDermid/Reuters 
Kylie Cooper/Reuters
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.
Annabelle Gordon/Reuters Powell, Trump find rare common ground on US economy
“The economy has once again surprised us with its strength,” the Fed chair said.
Brendan McDermid/Reuters Democrat’s bill would let people sue ICE over misconduct
It’ll be a nonstarter for the Republicans, but will demonstrates the scale of change Democrats now believe is needed.
Kylie Cooper/Reuters Democratic demands harden as shutdown impasse grows over DHS
The White House and Hill Republicans are showing flexibility after two US citizens were killed in Minneapolis, but a deal by Friday will be difficult.
US Federal Reserve holds interest rates steady
Despite intensifying pressure from US President Donald Trump to lower borrowing costs, the Fed signaled it isn’t in a rush to trim rates given low layoffs and steady economic growth.
Moreno makes final health care offer to Democrats
The Ohio Republican is pitching a one-year extension of enhanced premium tax credits that expired last year, with some limits.
Tester on Democrats’ chances: ‘Horrible’ message but a winning hand
The former Montana senator spoke with Semafor for a wide-ranging interview about his own political future, ICE funding, and more.
US hurdles toward shutdown fueled by immigration fight
Government funding runs out Friday night.
Rubio to defend Venezuela operation to Congress
The crux of Rubio’s message: The capture of Nicolás Maduro “was an operation to aid law enforcement.”
Trump immigration enforcement under siege from Hill Republicans
From occasional critics of the president to conservative gun-rights advocates, the party is speaking up after Alex Pretti’s death.
Trump adviser Stephen Miran mired in Fed’s personnel purgatory
President Donald Trump’s economic adviser was supposed to step down from the central bank at week’s end. That’s not going to happen.
Business
Go Nakamura/Reuters
China’s luxury market set to rebound following plummeting sales
European fashion houses hope that the reprieve will help to up sales, as brands have become heavily reliant on the country’s giant market.
Go Nakamura/ReutersChinese airlines cancel all flights to Japan as tensions worsen
China was angered by Japan’s suggestion that Tokyo could get involved in a conflict over Taiwan, which Beijing claims as a renegade province.
US Federal Reserve holds interest rates steady
Despite intensifying pressure from US President Donald Trump to lower borrowing costs, the Fed signaled it isn’t in a rush to trim rates given low layoffs and steady economic growth.
US Fed expected to hold rates steady, despite pressure from Trump
The decision is overshadowed by threats to its independence and questions over its future leadership.
Europe’s economies faring well despite domestic pessimism
Seven of the world’s top 10 performing economies are European, and ING analysts said Germany’s economy, stagnant for years, is expected to accelerate this year after stimulus.
Technology
Nir Elias/Reuters
NASA, ESA, David O’Ryan (ESA), Pablo Gómez (ESA), Mahdi Zamani (ESA/Hubble)
Anduril launches new drone racing competition
The winner receives a top prize of $500,000 and a job at the defense tech company.
Nir Elias/ReutersEuropean Space Agency uses AI to identify NASA’s Hubble telescope anomalies
The team at the European Space Agency developed a neural network called AnomalyMatch, which analyzes patterns in images and detects unusual objects.
NASA, ESA, David O’Ryan (ESA), Pablo Gómez (ESA), Mahdi Zamani (ESA/Hubble)Data center buildout spurs new laser development
The massive scale of the AI buildout is making new kinds of hardware innovation feasible, like Lightmatter’s new laser.
US court to hear landmark tech addiction case
A 20-year-old woman is suing YouTube and Meta — TikTok and Snapchat settled with her out of court — alleging they designed their platforms to be addictive.
AI changes shape of foreign investment flows
Declining appetite for infrastructure and a slowdown in renewables investments were partly supplanted by the capital poured into data centers and semiconductors.
Anthropic CEO Amodei warns of AI’s fast-coming changes
Dario Amodei’s 19,000-word essay warned against both “doomerism” about AI and dismissiveness of its risks.
Energy
TransAlta/Handout via Reuters
Jim Urquhart/Reuters
Enbridge/Handout via Reuters
Canadian 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/ReutersEuropean countries sign deal for major North Sea wind project
The deal is aimed at strengthening the continent’s energy security by reducing its dependence on fossil fuels.
Enbridge/Handout via ReutersGulf
Emilie Madi/Reuters
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.
Emilie Madi/ReutersDubai 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.
Visa splits Middle East operations
The kingdom brought in a rule in 2024 that any company wanting to bid for government contracts would have to set up their regional headquarters there.
Dubai to invest $27B in expansion of financial district
The UAE city is doubling down on efforts to fend off regional rivals trying to dethrone it as the Gulf’s top financial hub.
AI changes shape of foreign investment flows
Declining appetite for infrastructure and a slowdown in renewables investments were partly supplanted by the capital poured into data centers and semiconductors.
Africa
Olympia de Maismont/AFP via Getty Images
Junior Kannah/AFP via Getty Images
Ghana slashes interest rates following economic turnaround
Consumer inflation has fallen by almost 90% since 2023 in the West African nation, which for years faced soaring prices and cooling growth.
Olympia de Maismont/AFP via Getty ImagesUS courts African minerals giants as China rivalry escalates
The summit marks the White House’s latest attempt to build a counterweight to China’s dominance of African mineral supply chains.
Junior Kannah/AFP via Getty ImagesNigeria to try military officers accused of planning coup last year
The trial caps months of concerns about security in Africa’s largest democracy after a series of military takeovers in neighboring nations in recent years.
Zimbabwe inflation drops to single digits for first time in decades
Authorities hailed it as a “historic milestone” after decades marred by hyperinflation and currency collapse.
Zambia unlocks more IMF funds following debt overhaul
The completion of the IMF program underscores huge progress by the southern African nation in restructuring $13 billion worth of debt.
African debt repayments to Beijing overtake new Chinese loans
The shift illustrates Beijing’s changing relationship with the continent, now more focused on investments than loans.
Security
Issei Kato/File Photo/Reuters
Majid Asgaripour/WANA via Reuters
Stringer/Reuters
Chinese 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 ReutersDefense stocks surge on rising calls for militarization
Donald Trump’s calls for a more than 50% increase to his country’s military budget have lifted the valuations of domestic arms firms.
Stringer/ReutersMedia
Matt McClain/The Washington Post via Getty Images
Rumors of staffing cuts spook Washington Post newsroom
Feared potential targets for cuts include the sports and international desks.
Matt McClain/The Washington Post via Getty Images“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.
Streaming giants push filmmakers to adapt to ‘double screening’
Viewers are increasingly watching films and TV while also looking at their smartphones.
Die Welt editor departed amid internal inquiry
The editor of Germany’s Die Welt had been the subject of internal scrutiny in recent days by the newspaper’s parent company.
CEO Signal
Courtesy of Nasdaq/Joey Pfeifer/Semafor
Courtesy of Bank of America/Joey Pfeifer/Semafor
Courtesy of Suntory/Joey Pfeifer/Semafor
Nasdaq’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/SemaforBank of America’s Brian Moynihan: ‘The pipelines are full’
“It’s clear you can get a deal done now,” says the long-tenured banker.
Courtesy of Bank of America/Joey Pfeifer/SemaforGreg Hughes on how Suntory plans to revive global spirits sales
The CEO behind Jim Beam and Hibiki says bold goals and learning from failure build long-term growth.
Courtesy of Suntory/Joey Pfeifer/SemaforAD