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Intelligence for the New World Economy
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CEO Signal
‘I’m staring into the abyss’: How Toto Wolff drives Mercedes’ F1 team
The motorsports CEO says his ‘tough love’ style ensures the most compelling arguments prevail.
Vance takes his first economic punch in the 2028 primary
The vice president’s past skepticism about the dollar’s status as reserve currency has sparked a debate on the right.
Vance takes his first economic punch in the 2028 primary
The vice president’s past skepticism about the dollar’s status as reserve currency has sparked a debate on the right.
View / The software buyout wave is upon us
View / Hormuz ‘isn’t really the problem’
The World at a Glance
Updated 6:48pm EDT
1
US and Canadian officials traded blame after the two sides failed to reach a trade deal, teeing up a damaging trade war.
2China disclosed an unreported meeting with an Iranian minister as the US prepared to unveil “the toughest sanctions in history.”
3Investors and analysts poured scorn on US Treasury Secretary Scott Bessent’s bond purchases, after their temporary relief evaporated.
4Nvidia warned of higher prices for servers containing its AI chips as soaring memory costs strain the AI buildout.
5A Chinese humanoid robot ran the 100-meter dash nearly two-tenths of a second faster than world-record holder Usain Bolt at Beijing’s “Robot Olympics.”
6Competition to become Japan’s second capital is heating up among cities, with hundreds of millions of dollars hanging in the balance.
Mystery surrounds US deportations to Liberia
The Liberian government has insisted the deal is “not a transaction with a quid pro quo,” but that claim has failed to quiet the questions.
‘Washington is the center of it all’: Carlyle embraces its roots
The private-equity firm is courting defense deals and nurturing relationships with policymakers and global officials under CEO Harvey Schwartz.
Spencer Stuart’s CEO on trust and tension in the boardroom
Jordan Brugg says it’s becoming easier for executives to feel misaligned with their directors.
Trump heads to South Carolina as White House shifts to midterms
Trump’s visit to Myrtle Beach — where he hopes to provide a boost to Sen. Darline Graham, R-S.C. — comes as Republicans face a difficult path to retaining full control of Washington.
Walmart posts weakest sales growth in six years
The retail giant’s worse-than-expected same-store sales growth is the latest sign that consumers are feeling strapped.
Nigeria bets on grants to unearth mineral riches
A government agency will issue grants that provide up to 70% of the cost of exploration projects by mining license holders in Nigeria.
South Africa’s Absa eyes fintech partnerships
South Africa’s Absa Group is seeking partnerships with fintechs in a strategy aimed at reaching new customers.
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Politics
Bessent’s bond market move draws fire from investors
Investors and analysts poured scorn on US Treasury Secretary Scott Bessent’s doubling of long-term bond purchases, which provided temporary relief but faces structural economic headwinds that are driving yields higher.
Kevin Lamarque/Reuters
US-Canada rift deepens over tariffs
US and Canadian officials traded blame after the two sides failed to reach a trade deal Friday, teeing up a damaging trade war that could threaten broad swaths of both economies.
Chris Tanouye/Reuters
Trump heads to South Carolina as White House shifts to midterms
Trump’s visit to Myrtle Beach — where he hopes to provide a boost to Sen. Darline Graham, R-S.C. — comes as Republicans face a difficult path to retaining full control of Washington.
Ken Cedeno/Reuters
Argentina’s economy grows, but public frustration remains
President Milei has won plaudits from the World Bank and IMF for seeking to cut public-sector spending and slash red tape.
Trump’s efforts to reengage North Korea could be worthwhile, experts say
Trump’s overtures to Kim Jong Un could help achieve ‘incremental achievements,’ the conservative Cato Institute argued.
US presses China to join economic pressure campaign against Iran
The remarks by the Treasury secretary come ahead of the expected unveiling of new US sanctions against Tehran.
In Pennsylvania House race, it’s pink heels vs. drag queens
It began with a photo of Democrat Paige Cognetti and a drag queen at Scranton’s 2025 Pride flag raising.
Mystery surrounds US deportations to Liberia
The Liberian government has insisted the deal is “not a transaction with a quid pro quo,” but that claim has failed to quiet the questions.
White House’s messaging operation sidetracked by internal drama
Some of President Donald Trump’s allies see this week as proof that press relations are ready for a reboot.
Vance takes his first economic punch in the 2028 primary
The vice president’s past skepticism about the dollar’s status as reserve currency has sparked a debate on the right.
Ukraine renews pleas for Patriot missiles
President Volodymyr Zelenskyy has long urged allies to replenish Kyiv’s stock of Patriots.
Business
US-Canada rift deepens over tariffs
US and Canadian officials traded blame after the two sides failed to reach a trade deal Friday, teeing up a damaging trade war that could threaten broad swaths of both economies.
Chris Tanouye/Reuters
US bond markets on edge despite bond buyback expansion
The US Treasury secretary’s pledge to expand a bond buyback program in order to lower borrowing costs did little to quell market unease.
‘I’m staring into the abyss’: How Toto Wolff drives Mercedes’ F1 team
The motorsports CEO says his ‘tough love’ style ensures the most compelling arguments prevail.
Spencer Stuart’s CEO on trust and tension in the boardroom
Jordan Brugg says it’s becoming easier for executives to feel misaligned with their directors.
Tempus AI’s biotech deal attracts investor attention
The deal would have passed by without much notice, but Personalis’ technology is crucial to building the revolutionary personalized cancer therapies announced earlier this week by Merck and Moderna.
Technology
Nvidia says it’s raising some prices more than 15%
Nvidia warned of higher prices for servers containing its AI chips as soaring memory costs strain the AI buildout.
Nathan Howard/Reuters
Chinese humanoid robot beats Bolt’s time
A Chinese humanoid robot ran the 100-meter dash nearly two-tenths of a second faster than world-record holder Usain Bolt at Beijing’s “Robot Olympics” on Saturday.
Florence Lo/Reuters
Waymo builds custom chip for robotaxi fleet
In a blog post Thursday, the Alphabet-owned company revealed that it designed a custom computer chip that quickly crunches raw data coming from a car’s cameras, lidar, and radar.
Stripe agrees to acquire OpenRouter for $8 billion
With a deal, OpenRouter’s business could be destined for commoditization, and that’s actually kind of the point.
China’s ‘robot games’ offer look at latest innovations
The World Humanoid Robot Games act as a public benchmark testing of the most advanced humanoid robots.
China closes the gap in AI race with US
A new Bloomberg analysis quantified the US’ narrowing lead over China in the AI race.
Energy
US oil companies lock in Venezuela deals
After months of slow progress and noncommittal MOUs, international oil companies are making tangible headway in Venezuela.
Issac Urrutia/Reuters
Hormuz ‘isn’t really the problem’
A number of other factors are conspiring to drive down the volume of crude tankers faster over the past two weeks than any point during the war.
Social media via Reuters
More oil leaving the Gulf than previously thought
The US military has helped ferry crude through the Strait of Hormuz, Axios reported.
Vladimir Tonic/Reuters
Gulf
UAE’s space industry expands with more private satellites
Abu Dhabi’s Orbitworks sold capacity to French space agency CNES, securing a useful endorsement.
NASA/Reuters
Saudi Arabia renews diplomatic efforts with Iraq
The two countries are trying to move past a recent exchange of fire.
Saudi intensifies $13.3 billion buildout of indoor entertainment centers
The kingdom is starting with its underserved second-tier cities, which are often in areas that attract year-round tourism because of their cooler climate.
HUMAIN teases new laptop developed with Qualcomm
The device represents a big bet by HUMAIN to broaden its AI efforts, and pits it against some large players.
Disentangling UAE-Iran economic ties could prove difficult
The UAE was Iran’s largest source of imports before the war, ahead of China.
China
China prepares for ‘Economic D-Day’
China hosted Iran’s deputy foreign minister for talks last week related to the US-Iran war, Beijing announced Sunday, disclosing the previously unreported meeting one day before Washington is expected to unveil “the toughest sanctions in history” against Tehran.
Joyce Zhou/Reuters
Chinese humanoid robot beats Bolt’s time
A Chinese humanoid robot ran the 100-meter dash nearly two-tenths of a second faster than world-record holder Usain Bolt at Beijing’s “Robot Olympics” on Saturday.
Florence Lo/Reuters
Taiwan plans record defense budget
China, which regards the island as a renegade province, has increasingly deployed its military close to Taiwan.
Ann Wang/Reuters
Africa
Nigeria’s top presidential candidates vow to prioritize economic growth
President Bola Tinubu’s main opponents will be Atiku Abubakar, a former vice president, and former state governor Peter Obi.
Jean Bizimana/Reuters
South Africa’s Absa eyes fintech partnerships
South Africa’s Absa Group is seeking partnerships with fintechs in a strategy aimed at reaching new customers.
Siphiwe Sibeko/Reuters
Nigeria bets on grants to unearth mineral riches
A government agency will issue grants that provide up to 70% of the cost of exploration projects by mining license holders in Nigeria.
Mystery surrounds US deportations to Liberia
The Liberian government has insisted the deal is “not a transaction with a quid pro quo,” but that claim has failed to quiet the questions.
DFC funds rare earth projects in Africa
Private investors remain reluctant to finance the sector, a key battleground in Washington’s competition with China.
US warns ‘long’ road ahead in Ebola response
The epidemic became the deadliest in the Democratic Republic of Congo’s history earlier this week.
Security
Japanese cities vie to become second capital
Osaka, a leading contender, has even designated a talking cat mascot for the effort.
Issei Kato/Reuters
Trump’s efforts to reengage North Korea could be worthwhile, experts say
Trump’s overtures to Kim Jong Un could help achieve ‘incremental achievements,’ the conservative Cato Institute argued.
North Korea’s official Korean Central News Agency via Reuters
European officials warn of escalating threats from Russia
A Romanian jet destroyed a naval drone near a Black Sea gas platform.
An explosion following what the Romania’s defense ministry said in June was a detonation of Russian drone fragments. Romanian Defence Ministry/Handout via Reuters
Media
Mexico regulation proposal sparks censorship fears
Under the plan, officials would be able to determine whether news coverage was sufficiently true or balanced, with breaches potentially costing companies as much as 1% of their annual revenue.
Raquel Cunha/Reuters
China’s YouTube, Bilibili, plans global expansion, English-language site
The company is courting influencers to connect with “Gen Z Coded” users, and staffing up in cities around the world.
Tennis’ greatest battles — on the court and off
‘The Cruelest Game,’ by Matthew Futterman, details the unique psychological toll that professional tennis can take — particularly on its greatest stars.
MS NOW to launch membership program for ‘super fans’
The cable news network will roll out the program next month in an effort to grow its digital business and reach new audiences.
‘The Daily Show’ faces uncertain future under Paramount
Jon Stewart’s deal is up at the end of the year, and while there is strong interest from Paramount to renew, the two sides have yet to ink an extension.
CEO Signal
‘I’m staring into the abyss’: How Toto Wolff drives Mercedes’ F1 team
The motorsports CEO says his ‘tough love’ style ensures the most compelling arguments prevail.
Courtesy of Mercedes-AMG PETRONAS F1 Team/Graph Massara/Semafor
Spencer Stuart’s CEO on trust and tension in the boardroom
Jordan Brugg says it’s becoming easier for executives to feel misaligned with their directors.
Courtesy of Spencer Stuart/Graph Massara/Semafor
‘It’s an unbundling’: ADP’s Maria Black on how AI is changing the workforce
The payroll processor sees technology disrupting low-value tasks but making human judgment more valuable.
Courtesy of ADP/Graph Massara/Semafor
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