- D.C.
- BXL
- Lagos
- Riyadh
- Beijing
- SG
Intelligence for the New World Economy
- D.C.
- BXL
- Lagos
- Riyadh
- Beijing
- SG
ASML raises forecasts as AI boom boosts sales
The Dutch technology giant expects an AI-driven boom in demand for its chipmaking machines to continue after Q2 sales jumped.
ASML raises forecasts as AI boom boosts sales
The Dutch technology giant expects an AI-driven boom in demand for its chipmaking machines to continue after Q2 sales jumped.
View / AI is the business-model shock law firms need
View / US gas price relief remains elusive
The World at a Glance
Updated 8:13am EDT
1
China reported its slowest quarterly growth since late 2022, weighed down by lackluster domestic demand and the Iran war.
2ASML raised its full-year sales outlook, riding an AI-driven wave of demand for its chip manufacturing equipment.
3Donald Trump threatened to bomb Iran’s civilian infrastructure unless the US and Iran resume peace talks, after days of tit-for-tat strikes.
4The US deployed Coast Guard ships in the Pacific, as tensions between China and American-allied neighbors rise.
5Ukraine struck 11 vessels in the Sea of Azov, effectively choking off a waterway that has become key for Russian exports.
6In his first congressional hearing as US Federal Reserve chair, Kevin Warsh committed to tackling inflation, but dodged questions about rate hikes.
China reports lowest quarterly growth in more than three years
The world second-biggest economy expanded 4.3% in Q2, as the Iran war, lackluster domestic demand, and a lingering real estate slump weighed on growth.
Stripe and Advent bid $53B for PayPal
PayPal was valued at $360 billion in 2021, but that has now fallen to just $36 billion due to competition from Apple Pay and other rivals.
Trump threatens to bomb Iran’s civilian infrastructure
A month-long ceasefire has effectively collapsed, with the US and Iran exchanging fire for four consecutive days.
US deploys Coast Guard in Pacific as China tensions rise
Tensions have risen in the region as Beijing has sought to expand its maritime and territorial claims in recent years.
Baltimore Sun owner threatens to sue Moore over Epstein comments
The Maryland governor tried to tie Sinclair chairman David Smith to the disgraced financier.
White House not ruling out action on open-source AI models
The administration has an interest in boosting the US’ nascent open-source industry, which is increasingly concerned about losing ground to China.
Daylight saving bill hits wall in Senate
Senate Majority Whip John Barrasso said the daylight saving time measure would not be able to pass by unanimous consent.
AD
Politics
Baltimore Sun owner threatens to sue Moore over Epstein comments
The Maryland governor tried to tie Sinclair chairman David Smith to the disgraced financier.
Annabelle Gordon/Reuters
White House not ruling out action on open-source AI models
The administration has an interest in boosting the US’ nascent open-source industry, which is increasingly concerned about losing ground to China.
Al Drago/Reuters
Blanche’s mission: Convince the Senate’s free agents
Sens. John Cornyn, R-Texas, and Thom Tillis, R-N.C., will have some hard questions for the acting attorney general.
Evelyn Hockstein/Reuters
Daylight saving bill hits wall in Senate
Senate Majority Whip John Barrasso said the daylight saving time measure would not be able to pass by unanimous consent.
‘Nobody told me how dangerous it is’: How Trump sees threats to his life
As fresh risks from Iran make headlines, those closest to the president told Semafor that, in private, he aims for fatalistic humor.
Parasitic infection outbreak exposes deep cracks in public health
A sprawling cyclospora outbreak spotlights deeper issues in America’s public health system.
Fed Chair Warsh condemns inflation while dodging on hikes
In his first hearing since starting the job, the Federal Reserve chair promised lawmakers he would “deliver price stability” but took pains to avoid specifying what that means for rates.
Sanders-backed progressives try to make AI the new AIPAC
New York Gov. Kathy Hochul’s Tuesday moratorium on data centers follows a growing campaign on the left to harness grassroots opposition to the projects.
Warsh gets first Capitol Hill grilling as Federal Reserve chair
The Fed chair will likely field questions about his recently announced task forces.
Senate weighs filling Graham’s committee seats
The late Sen. Lindsey Graham sat on the Judiciary, Appropriations, and Environment and Public Works committees, plus his Budget Committee chairmanship.
Trump is ‘very serious’ about Hormuz toll push
The proposal puts the US president at odds with some of his allies who opposed the toll idea.
Business
Stripe and Advent bid $53B for PayPal
PayPal was valued at $360 billion in 2021, but that has now fallen to just $36 billion due to competition from Apple Pay and other rivals.
Fabrizio Bensch/File Photo/Reuters
NY enacts data center moratorium
The move signals growing mainstream political pushback to unchecked AI growth in the US.
DeepSeek reportedly weighs IPO amid zeal for Chinese low-cost tech
The AI powerhouse is also said to be considering raising new funds, weeks after completing its first financing round.
Fed Chair Warsh condemns inflation while dodging on hikes
In his first hearing since starting the job, the Federal Reserve chair promised lawmakers he would “deliver price stability” but took pains to avoid specifying what that means for rates.
AI is the business-model shock law firms need
AI is a swift kick in the business model.
Technology
Stripe and Advent bid $53B for PayPal
PayPal was valued at $360 billion in 2021, but that has now fallen to just $36 billion due to competition from Apple Pay and other rivals.
Fabrizio Bensch/File Photo/Reuters
NY enacts data center moratorium
The move signals growing mainstream political pushback to unchecked AI growth in the US.
Kent J. Edwards/Reuters
DeepMind’s Hassabis calls for AI oversight
The Nobel Prize laureate warned that a race-to-the-top dynamic was exacerbating the technology’s risks.
Zoetis to acquire medical imaging company in latest push to build AI
VitalRADS’ database of more than 30 million images will help Zoetis create radiology AI models.
Saudi AI champion HUMAIN to supply compute to Canada startup Cohere
The deal follows a thawing of bilateral relations after a years-long diplomatic rift over Saudi Arabia’s human rights record.
Asian chips lead global tech selloff as AI concerns grow
Despite worries about the investment boom, there are signals that global demand for AI computing remains robust.
Energy
Asian buyers cool on Gulf LNG
Around 83% of the Gulf’s LNG exports head to Asia, but the Iran war is changing dynamics, prompting importers to cut demand, switch to other suppliers, or turn to other fuels.
QatarEnergy’s liquefied natural gas production facilities. Stringer/Reuters.
OPEC trims oil demand forecast
The producer group cut its growth forecast for world oil demand this year by 20% — its third straight downward revision.
Maxim Shemetov/File Photo/Reuters
Global market faces LNG glut, while US forecasts shortfall
The world is facing an LNG surplus that analysts predict could reach more than 100 million tons by 2031.
Ann Wang/Reuters
Gulf
Abu Dhabi’s oysters outnumber expectation
A three-year effort to map the oyster population in Abu Dhabi’s waters yielded more than expected, according to the emirate’s environmental agency.
A research diver off the UAE coast. Courtesy of Environment Agency-Abu Dhabi.
Revived Iran conflict dims Gulf’s economic recovery hopes
The collapse of the interim peace deal between the US and Iran is delaying recovery in crucial economic sectors, including aviation, energy, tourism, and real estate.
Saudi World Cup fans forced to pirate games after BeIN blackout
The host of the 2034 World Cup has blocked access to the Qatar-controlled network that holds regional media rights for this year’s tournament.
Gulf brands wade into gaming
A Dubai agency says one gaming stream outperformed months of traditional advertising for a carmaker — and more brands are listening.
Trump abandons Hormuz toll plan, restarts naval blockade
Analysts were skeptical about the toll proposal, as it would double the cost of moving oil through the strait.
China
China reports lowest quarterly growth in more than three years
The world second-biggest economy expanded 4.3% in Q2, as the Iran war, lackluster domestic demand, and a lingering real estate slump weighed on growth.
Maxim Shemetov/Reuters
Xi steps up corruption purge
The Chinese Communist Party purged another top official Tuesday, as Xi Jinping intensifies his anti-corruption drive.
Ma Xingrui. Tingshu Wang/Reuters
DeepSeek reportedly weighs IPO amid zeal for Chinese low-cost tech
The AI powerhouse is also said to be considering raising new funds, weeks after completing its first financing round.
Florence Lo/Reuters
Africa
West African photo project maps climate change solutions
The project uses imagined climate-adapted photos of areas that have already been hard hit by sea-level rise, flooding, and coastal erosion.
Courtesy of Adolphus Opara
Mining developments eroding Africa’s forests, study finds
Nearly 190,000 hectares of forest were converted to mines in Africa between 2001 and 2020, according to researchers at the universities of Cambridge and Sheffield.
Francis Kokoroko/Reuters
Human vaccine trials begin for latest Ebola strain
The trial comes as the virus spread to two new provinces in the DR Congo, fueling fears the fast-moving outbreak is becoming harder to contain.
South Africa plans major fuel stockpile to buffer against energy shocks
Africa’s largest economy once refined its own fuel, but is now wholly dependent on imported petrol, diesel, and jet fuel, leaving it vulnerable to major disruptions.
Dangote refinery eyes pricing products in dollars over naira
The refinery agreed in 2024 to set depot prices in the local currency following a government deal that involved sourcing crude oil domestically.
Trump’s resource diplomacy comes to Libya
Critics say Washington’s proposed power-sharing deal would trade elections for stability while opening the door to US oil companies.
Security
Europe steps up commitments to Kyiv
Ukraine and its European allies on Monday announced a coalition to develop an anti-ballistic missile system to protect against Russian attacks.
Stringer/Reuters
US, Iran trade strikes, dispute Hormuz status
The US on Sunday launched its heaviest assault on Iran in weeks, while Tehran hit Gulf nations and announced the closure of the Strait of Hormuz.
US Central Command/Handout via Reuters
Ukraine pursues a government shakeup
Ukraine’s prime minister stepped down on Sunday, as President Volodymyr Zelenskyy oversees a sweeping government reorganization spurred by a new “political strategy.”
Ukrainian Presidential Press Service/Handout via Reuters
Media
Baltimore Sun owner threatens to sue Moore over Epstein comments
The Maryland governor tried to tie Sinclair chairman David Smith to the disgraced financier.
Annabelle Gordon/Reuters
Paramount weighs leaving California over Warner Bros. rift
David Ellison is wary of decamping, but his battle with state regulators is intensifying.
Mamdani squares off with ‘The View’
The New York City mayor’s allies were frustrated by a host’s comments about fellow democratic socialist Darializa Avila Chevalier.
NYT tries to catch up to video-addicted audiences
New York Times Executive Editor Joe Kahn said the paper is pouring resources into visual content, prompting comparisons to the media’s “pivot to video” in the 2010s.
The Daily Wire sells Jeremy’s Razors to media company’s former CEO
The sale represents the further uncoupling of Jeremy Boreing and the conservative media company he co-founded with Ben Shapiro.
CEO Signal
Why Edward Jones thinks AI can defuse a demographic time bomb
Managing partner Penny Pennington wants to capture financial advisers’ insights before they retire.
How Allianz’s CEO prepares for the risk of ‘huge havoc’
Oliver Bäte says Europe can no longer afford all the options its citizens expect.
Courtesy of Allianz/Graph Massara/Semafor
The MSCI boss helping Elon Musk get closer to Mars
Henry Fernandez says the index provider has grown by playing soccer, not singles tennis.
Courtesy of MSCI/Graph Massara/Semafor
AD