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Intelligence for the New World Economy
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AI exacerbates ‘class divide,’ progressive poll shows
Black workers are also more likely than white workers to predict AI will replace their job.
AI exacerbates ‘class divide,’ progressive poll shows
Black workers are also more likely than white workers to predict AI will replace their job.
View/ Africa’s space race is becoming Washington’s next China challenge
A trust gap could unravel Nigeria’s financial inclusion wins
The World at a Glance
Updated 10:25am EDT
1
Trump called of threatened Iran strikes and said ‘perimeters’ of Iran deal are in place, sending oil prices tumbling 5%
2Foreign oil companies are ready to move into Venezuelan oil seven months after the US removed Nicolás Maduro, despite significant risks.
3Chinese AI giant DeepSeek released a new cut-price AI model, though concerns are rising over the effects of a vicious price war.
4After the war in the Middle East exposed the continent’s energy dependence, Africa is now building ‘megaprojects’ at record rates.
5London’s Kew Gardens recorded its first dry month in 150 years, as the continent remains gripped by scorching drought.
6Hollywood is quietly incorporating AI, with more than 10% of job listings being AI-related.
Avila Chevalier plans to join Congressional Black Caucus
The democratic socialist, who ousted New York Rep. Adriano Espaillat in a June primary upset, also plans to join the Congressional Hispanic Caucus.
South African investors look to create $1B sugar monopoly
A potential tie-up of Ilovo Sugar would reunite southern Africa’s two largest producers, setting up a major cross-border antitrust test.
Crypto industry poll touts benefits of its top Hill priority
More than half of Americans say they would feel more protected if Congress passes the cryptocurrency industry’s top legislative priority, per the poll.
The deal, and call, behind Trump’s climbdown on Iran strikes
The president said Iran and other Middle East countries asked him to hold off on more attacks.
Why Max Levchin wants Affirm to act like your smarter older sister
The fintech founder sees AI threatening traditional lenders by alerting consumers to their hidden fees.
Fetterman still weighing his place in the Democratic tent
The Pennsylvanian is an outlier in a party where what he calls the “warped mutation” of democratic socialism is rising.
T-Mobile, Deutsche Telekom merger stalls
T-Mobile executives have told their controlling shareholder that they no longer support the $300 billion merger.
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Politics
Rogers tries for a tricky ‘change’ election
As Michigan Democrats fracture over their Senate primary, the presumptive Republican nominee hopes to run against a state government he won’t be joining.
Nicholas Wu/Semafor
AI exacerbates ‘class divide,’ progressive poll shows
Black workers are also more likely than white workers to predict AI will replace their job.
Carlos Barria/Reuters
Avila Chevalier plans to join Congressional Black Caucus
The democratic socialist, who ousted New York Rep. Adriano Espaillat in a June primary upset, also plans to join the Congressional Hispanic Caucus.
Eduardo Munoz/Reuters
Crypto industry poll touts benefits of its top Hill priority
More than half of Americans say they would feel more protected if Congress passes the cryptocurrency industry’s top legislative priority, per the poll.
The deal, and call, behind Trump’s climbdown on Iran strikes
The president said Iran and other Middle East countries asked him to hold off on more attacks.
Trump’s Gaza deal faces resistance
US President Donald Trump’s diplomatic push to disarm Hamas has run into headwinds as political resistance in Israel and disagreements with Hamas over implementation cast doubt on the US-backed plan.
US, Japan coordinate yen purchases
The US and Japanese governments coordinated to stabilize the yen after the currency plummeted last week, a historic intervention aimed at preventing wider economic destabilization.
Democratic socialists rework platform as they step into spotlight
Democratic Socialists of America is in a brighter spotlight than ever.
New ads to attack vulnerable Republicans over cost of care
The political arm of advocacy group Care Can’t Wait will launch digital ads in a half-dozen battleground congressional districts next week as part of a six-figure campaign slamming Republicans for the high price of caregiving.
Fetterman still weighing his place in the Democratic tent
The Pennsylvanian is an outlier in a party where what he calls the “warped mutation” of democratic socialism is rising.
State Department pressed to increase aid for women impacted by Ebola outbreak
Sens. Jeanne Shaheen and Lisa Murkowski want the administration to approve support for a UN agency President Donald Trump withdrew from.
Business
FIFA scraps privatization push after uproar
The outcry following a plan to spin off the soccer entity’s commercial rights has imperiled President Gianni Infantino’s leadership.
Benoit Tessier/Reuters
T-Mobile, Deutsche Telekom merger stalls
T-Mobile executives have told their controlling shareholder that they no longer support the $300 billion merger.
Meta plunges on AI spending scrutiny
Lackluster earnings and revenue projections dimmed investor confidence in CEO Mark Zuckerberg’s AI vision.
AI-related imports prove to be drag on US growth
The AI boom cut against overall economic growth, as the US imported more semiconductors.
High-flying hedge fund sells holdings to Citadel after AI losses
Situational Awareness’ decision to dump its stock holdings to Citadel is an AI-age sequel to the Archegos fiasco that rocked Wall Street a few years ago.
Technology
Hollywood quietly incorporating AI, despite public protest
More than 10% of Hollywood job adverts are AI-related, The Los Angeles Times reported.
Daniel Cole/Reuters
DeepSeek releases cheaper new AI model as China’s price war intensifies
A 50% cut in token costs suggests DeepSeek is competing for market share.
Florence Lo/File Photo/Reuters
Robots get better at handling unpredictability
Google DeepMind unveiled a new model this week that gives humanoid robots finer control over how they interact with objects around them, including completing complicated tasks like tying a trash bag.
Chinese AI companies aim to serve businesses
Chinese tech players like ByteDance, Alibaba, and Tencent are looking to pivot toward the more lucrative enterprise market to increase revenues.
How YouTube is navigating an AI tightrope
The company is trying a new way of using AI to give users better search results.
Americans worry robots will take jobs, but not theirs
A new poll offers an early snapshot of Americans’ attitudes toward robots in various corners of everyday life.
Energy
Firms move in on Venezuelan oil seven months post Maduro removal
Acting President Delcy Rodríguez has scrapped the rule requiring state-run PDVSA to hold majority stakes in joint ventures.
Miraflores Palace/Handout via Reuters
OPEC+ raises production targets
OPEC+ agreed on Sunday to raise oil production by 188,000 barrels a day in September, marking its sixth consecutive monthly increase as the group seeks to restore supply to a market strained by global conflicts.
Hamad I Mohammed/Reuters
The gold rush is on to build Gulf energy projects
A group of US and Saudi investors is looking to set up a port-connected “energy corridor” for producing and exporting around the Strait of Hormuz.
Mohammed Benmansour/Reuters
Gulf
Qatari group develops $3.3 billion agricultural project in Syria
Baladna Food Industries is an arm of the business empire of Syrian-born business moguls Moutaz and Ramez Al-Khayyat.
Orhan Qereman/Reuters
Trump’s Gaza deal faces resistance
US President Donald Trump’s diplomatic push to disarm Hamas has run into headwinds as political resistance in Israel and disagreements with Hamas over implementation cast doubt on the US-backed plan.
Trump calls off Iran strikes
US President Donald Trump abruptly called off a new round of planned strikes on Iran on Saturday after some of Washington’s Gulf allies pushed for deescalation.
OPEC+ raises production targets
OPEC+ agreed on Sunday to raise oil production by 188,000 barrels a day in September, marking its sixth consecutive monthly increase as the group seeks to restore supply to a market strained by global conflicts.
LNG shipments start moving through Hormuz in long road to recovery
Before the war, roughly a fifth of the world’s LNG passed through the strait, and the disruption has left Asian buyers scrambling.
China
DeepSeek releases cheaper new AI model as China’s price war intensifies
A 50% cut in token costs suggests DeepSeek is competing for market share.
Florence Lo/File Photo/Reuters
BYD sales rise for third straight month on exports surge
China’s BYD recorded a 22% year-over-year increase in EV sales in July.
Rafael Martins/Reuters
Gulf states push China to restrain Iran
The Gulf is hoping that Beijing will use its economic clout to steer Tehran to a negotiated deal that will reopen the Strait of Hormuz.
China’s foreign minister Wang Yi. Achmad Ibrahim/Pool via Reuters
Africa
Africa’s space race is becoming Washington’s next China challenge
Space spending across the continent is approaching $1 billion a year. Whoever supplies the hardware now may be setting the terms for the next twenty years.
NASA/Bill Ingalls
Africa builds ‘megaprojects’ faster than ever despite debt risks
The war in the Middle East exposed the continent’s reliance on energy imports, accelerating efforts to build new refineries and pipelines.
Tiksa Negeri/Reuters
Morocco names highway after Trump over Western Sahara dispute
The move was a direct thank-you to the US president for formally recognizing Rabat’s sovereignty over the disputed territory of Western Sahara during his first term.
Migrant border crush spikes tensions in Spain
Tens of thousands of Moroccans crossed into Ceuta before being pushed back out by Spanish military forces.
DR Congo secretly exporting uranium to China - report
Despite a prohibition on commercial uranium export from the Central African country, “significant quantities” have gone to China.
A trust gap could unravel Nigeria’s financial inclusion wins
Nearly 33 million bank accounts sit dormant — a sign that access without confidence doesn’t hold.
Security
France to deport Russian journalist accused of publishing propaganda
The case has laid bare Europe’s dilemma in carrying out its strategic objectives while upholding its liberal values.
The news studio at RT France. Gonzalo Fuentes/Reuters.
Russia’s war narrative falters
Russia is suffering from “narrative collapse” in its war against Ukraine, a journalist said, as Kyiv turns the tide in the conflict — on the front lines and in American right-wing media.
Eduardo Munoz/Reuters
Iran and Ukraine wars merge in the Caspian Sea
The Ukraine and Iran wars collided over the weekend, as Kyiv attacked an Iranian commercial ship in the Caspian Sea.
The foreign ministers of Iran and Russia on July 24. Russian Foreign Ministry/Handout via Reuters
Media
The AI ‘news’ accounts hyping a blue-state dystopia
AI-generated videos are flooding YouTube with fake narratives about chaos in California and New York.
Screenshot/Truth Social
Senate Democrat’s new bills would restrict AI-powered ads and paid influencers
California Sen. Adam Schiff plans to introduce two new bills that would attempt to illuminate who is paying influencers for political speech online and restrict AI-generated likenesses of politicians.
Former Surgeon General Vivek Murthy on loneliness and why he’s more worried about your phone than your body
Former US Surgeon General Vivek Murthy joins Mixed Signals to make the case that America’s loneliness crisis is a public health emergency.
Steve Hilton on the Murdochs, David Ellison, and conservative media’s California
Steve Hilton has lived many lives: a key strategist to former British Prime Minister David Cameron, a populist Fox News host, and — after renouncing his UK citizenship — the Republican nominee in California’s gubernatorial race.
Katie Nolan on the sports gambling takeover, covering politics, and the slow return of the boys’ club
Sports media host and “Casuals” podcast creator Katie Nolan joined Mixed Signals live at Cannes to talk about navigating two decades of upheaval in sports media.
CEO Signal
Why Max Levchin wants Affirm to act like your smarter older sister
The fintech founder sees AI threatening traditional lenders by alerting consumers to their hidden fees.
How Patrice Louvet blends ‘magic and logic’ at Ralph Lauren
The Procter & Gamble veteran has focused the fashion brand by balancing emotion and data.
How Bruce Van Saun united Citizens against America’s biggest banks
The superregional lender’s CEO has made a virtue of its place in “the middle of the river.”
Courtesy of Citizens Financial Group/Jake Angelo/Semafor
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