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Intelligence for the New World Economy
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The World at a Glance
Updated 6:33pm EDT
1
President Donald Trump suggested he could “outwait” Iran in peace negotiations, dismissing US midterm election pressure.
2The European Central Bank warned Donald Trump’s policies could lead to a financial crisis, as inflation risks reshape interest rate calculations.
3Russia authorized its central bank to shoot down drones, as Ukraine steps up attacks on targets deep within Russian territory.
4Elon Musk reportedly discussed merging SpaceX with Tesla, a deal that would give him more control over his sprawling tech empire.
5Tech giants are deepening their investments in Asia’s chip sector as demand for compute explodes.
6China is trying to balance its society-wide AI push with mounting concerns over the tech’s disruptive socioeconomic effects.
Tech firms deepen Asia chip investments
Tech giants are deepening their investments in Asia’s chip sector as demand for compute explodes.
Ann Wang/ReutersRepublicans try to coalesce around Paxton after Cornyn loss
Party leaders in Washington had deemed Sen. John Cornyn the more electable candidate, but Republicans can’t afford to lose that seat and keep their majority.
Kylie Cooper/Reuters Elon Musk reportedly floats SpaceX, Tesla merger
Elon Musk has reportedly discussed merging SpaceX with Tesla, a deal that would give the world’s richest person even more control over his sprawling tech empire.
Evan Vucci/File Photo/ReutersAI chipmaker SK Hynix hits $1T in market capitalization
Fellow Korean giant Samsung and semiconductor maker Micron also recently crossed the threshold.
A high-bandwidth memory chip manufactured by South Korea’s SK Hynix. Max A. Cherney/File Photo/ReutersRobinhood allows users to use AI agents to trade stocks
The tools allow anyone with a Robinhood account to compete more closely with institutional investors that have long deployed automated systems for trades.
Teachers aren’t getting formal guidance on AI, poll finds
Only 18% of K-12 teachers reported receiving formal guidance from administrators on how AI tools should be used across various classroom tasks.
Adam Gray/ReutersKuwait approves route for high-speed rail to Riyadh
The move is part of the gathering momentum to develop new regional transport and logistics links that enable trade to bypass the Strait of Hormuz.
Fahad Shadeed/ReutersAD
Politics
Evan Vucci/Reuters
Evan Vucci/Reuters
Evan Vucci/Reuters
Trump suggests he can ‘outwait’ Iran in negotiations
Trump signaled an extended timeline for peace talks with Iran, saying he is “not satisfied” with the current terms of negotiations.
Evan Vucci/ReutersTrump insistent on elusive ‘great deal’ in Iran
He told Semafor during a Cabinet meeting that “it’s got to be perfect.”
Evan Vucci/ReutersRepublicans catch the Trump strain of tea party fever
The party is facing a remarkably anti-incumbent base ahead of a tough midterms, this time cheered on by a president who likes to pick winners
Evan Vucci/ReutersWhy Democrats prefer their own messy primaries
The US political parties are best understood by looking at Texas and California, whose 2026 primaries tell a story: Republicans are run from the top, Democrats aren’t run at all.
Teachers aren’t getting formal guidance on AI, poll finds
Only 18% of K-12 teachers reported receiving formal guidance from administrators on how AI tools should be used across various classroom tasks.
Pam Bondi gets unusual representation
Assistant Attorney General for Civil Rights Harmeet Dhillon has been serving as the former attorney general’s lawyer.
Republicans try to coalesce around Paxton after Cornyn loss
Party leaders in Washington had deemed Sen. John Cornyn the more electable candidate, but Republicans can’t afford to lose that seat and keep their majority.
Iran threatens retaliation after US strikes
Tehran said Washington’s attacks, which the US called “self-defense strikes,” violated the countries’ ceasefire.
White House calls Abraham Accords a ‘complement’ to Iran war deal
The White House is qualifying the president’s call for an array of other Middle Eastern nations to normalize relations with Israel as part of any deal to end the Iran war.
‘Circular firing squad’: Democrats question state conventions after Michigan debacle
The party is reevaluating its nominating practices that some warn could result in activist-driven sideshows.
Sen. Schiff takes on Trump’s ‘anti-weaponization’ fund
The California Democrat called the fund “the most brazen act of self-dealing corruption we’ve ever seen.”
BusinessEvan Vucci/File Photo/Reuters
Elon Musk reportedly floats SpaceX, Tesla merger
Elon Musk has reportedly discussed merging SpaceX with Tesla, a deal that would give the world’s richest person even more control over his sprawling tech empire.
Evan Vucci/File Photo/ReutersTrump policies risk financial crisis, ECB warns
The European Central Bank warned US President Donald Trump’s policies could lead to a financial crisis, as inflation risks grow more urgent.
Surging chip stocks warp global markets
Chip giant TSMC’s rally largely drove Taiwan to become the world’s fifth-largest equity market this week, surpassing India, seen as an AI laggard.
Lyft is coming for corporate travel
CEO David Risher told Semafor he’s already speaking with CEOs like United Airlines’ Scott Kirby about bundling Lyft with other corporate travel perks.
Vail Resorts’ CEO Rob Katz says he won’t hedge the weather on prediction markets
The biggest risk to Vail Resorts’ ski business is the weather, but Katz says hedging it in the markets “is not as simple as it might look.”
Technology
Maxim Shemetov/ReutersAnn Wang/Reuters
China tries to balances AI push with job displacement fears
China is trying to balance its society-wide AI push with mounting concerns over the tech’s disruptive socioeconomic effects.
Maxim Shemetov/ReutersTech firms deepen Asia chip investments
Tech giants are deepening their investments in Asia’s chip sector as demand for compute explodes.
Ann Wang/ReutersElon Musk reportedly floats SpaceX, Tesla merger
Elon Musk has reportedly discussed merging SpaceX with Tesla, a deal that would give the world’s richest person even more control over his sprawling tech empire.
Could AI tokens be the digital currency that lasts?
Where eCash and Bitcoin may have failed, the AI industry may have inadvertently created the first true digital store of value.
UC Berkeley bans AI use for law students
The school prohibits students from using AI to complete assignments, brainstorm ideas, outline papers, and even correct grammar.
Robinhood allows users to use AI agents to trade stocks
The tools allow anyone with a Robinhood account to compete more closely with institutional investors that have long deployed automated systems for trades.
Energy
Alice Sacco/Reuters
Luke MacGregor/Reuters
Strong El Niño produces record temperatures
The hot weather arrives just as many countries are struggling with high energy prices.
Alice Sacco/ReutersBP ousts chair over conduct concerns
BP abruptly ousted Albert Manifold citing “serious” governance and conduct concerns.
Luke MacGregor/ReutersFerrari unveils new EV model
The company’s share price crashed 6% after the Luce was revealed.
Gulf
Aramco offloads 50% stake in Malaysia refinery project
Aramco is transferring ownership to the country’s national oil company Petronas.
Bahrain suffers wartime trade slump
The value of imports slumped 17% and non-oil exports fell by 10%.
Kuwait approves route for high-speed rail to Riyadh
The move is part of the gathering momentum to develop new regional transport and logistics links that enable trade to bypass the Strait of Hormuz.
Gulf’s SpaceX investors could be set for windfall following IPO
SpaceX’s IPO filing last week didn’t disclose details about regional investors, but even a 1% holding is set to be worth around $15 billion.
Kuwait’s caution looks prescient in face of Iran war
While Abu Dhabi, Doha, and Riyadh pursued rapid transformation, Kuwait quietly built up its financial buffers.
ChinaMaxim Shemetov/Reuters 
Go Nakamura/File Photo/Reuters
Tingshu Wang/Reuters
China tries to balances AI push with job displacement fears
China is trying to balance its society-wide AI push with mounting concerns over the tech’s disruptive socioeconomic effects.
Maxim Shemetov/ReutersChina’s industrial profits surge at fastest rate in two years
The new figures still pointed to signs of China’s economic divergence: While exports remained strong, domestic consumption was paltry.
Go Nakamura/File Photo/ReutersChina’s AI talent war heats up
China and its tech giants are racing to protect their top AI talent, as competition intensifies at home and with the US.
Tingshu Wang/ReutersAfrica
Wolfgang Kaehler/LightRocket via Getty Images
Africa’s tax push is clashing with the reality of its informal economies
Critics argue the measures could slow digital adoption and push more activity back toward cash-based channels.
Wolfgang Kaehler/LightRocket via Getty ImagesGhanaian artist El Anatsui dominates Frieze New York sales
‘LuwVor I,’ a sculpture crafted from aluminum, copper, and wire, sold for $2.2 million, more than double the next highest seller at the prestigious art fair.
$100M philanthropy-backed fund launched to support manufacturers
The Africa Jobs Fund plans to raise capital from philanthropic sources.
Ghana offers lessons on Chinese power projects — report
Ghana has delivered power projects at reasonable cost and on relatively strong timelines says a think tank.
Chinese vehicle trade deficit with S.Africa hits $3.5B
The deficit is twice the size it was four years earlier and South Africa’s largest bilateral automotive trade deficit with any country.
Ramaphosa launches defense against fresh impeachment push
The president is responding to an inquiry centered on his handling of the theft of $580,000 cash hidden inside a sofa at his Phala Phala private game farm.
Security
Anastasia Barashkova/File Photo/Reuters
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Russia authorizes its central bank to shoot down drones
Russia authorized its central bank and other financial institutions to shoot down drones, as the country’s cities and infrastructure increasingly come under attack from Ukraine.
Anastasia Barashkova/File Photo/ReutersEurope bolsters military alliances over Russia fears
Britain and Poland are due to finalize a security agreement today, while France is reportedly looking to join a Germany-UK program to produce new long-range missiles.
Iran starts restoring web access after monthslong blackout
Tehran cut its public off from the web shortly after the US and Iran struck the country in late February.
Majid Asgaripour/WANA (West Asia News Agency) via ReutersMedia
Mike Blake/Reuters
Paramount appears to sway DOJ staff on Warner Bros. takeover
US antitrust regulators appear to approve Paramount’s $110 billion studio deal after a two-hour meeting at the Justice Department Tuesday, people familiar with the matter said.
Mike Blake/Reuters Thousands of journalists’ data exposed to dark web
More than half of the exposures contained personal information such as names, phone numbers, dates of birth, and addresses, per a new study from Proton.
Google’s Nick Fox on remaking its search engine
“It’s been clear that people don’t want incorrect information — and so that bedrock of trust and accuracy has served us well.”
California influencer disclosures offer a glimpse at how secret money distorts American politics
Tom Steyer’s campaign is making use of paid astroturfed social media support.
Democrats move to restore military paper’s independence
The new legislation from Senate Democrats aims to insulate Stars and Stripes from the Trump administration’s efforts to assert control.
CEO Signal
Courtesy of Match Group/Joey Pfeifer/Semafor
Courtesy of Becton Dickinson/Joey Pfeifer/Semafor
Why an anxious AI romantic now drives Match Group’s dating apps
CEO Spencer Rascoff uses digital “personas” to help the Tinder owner understand its users.
Courtesy of Match Group/Joey Pfeifer/SemaforHow syringe-maker BD is infusing AI into its medical devices
CEO Tom Polen is turning his 65,000 employees into lean manufacturing “problem-finders.”
Courtesy of Becton Dickinson/Joey Pfeifer/SemaforWhy Allstate’s Tom Wilson thinks CEOs should create more jobs with AI
The insurance industry veteran says executives have an obligation to do hard things.
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