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Intelligence for the New World Economy
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The World at a Glance
Updated 6:51am EDT
1
French President Emmanuel Macron criticized his US counterpart Donald Trump, as Europe distances itself from Washington over Iran.
2Iran is working to establish long-term control over the Strait of Hormuz in order to maintain its leverage.
3Russia made no territorial gains in March, the first time its progress has stalled in more than two years.
4Venezuela’s oil output surpassed one million barrels per day last month, as US efforts to bolster the sector took hold.
5US businesses are hiring at their lowest non-pandemic rate since 2011, hinting at a chill in the labor market.
6Artemis II has now left Earth’s orbit, meaning the crew are now further from Earth than any humans have been since 1972.
Swalwell-FBI flap could backfire on Trump administration
The Democratic lawmaker is in the thick of his California gubernatorial campaign.
Annabelle Gordon/ReutersWorld views China better than US, poll finds
A median 36% of those polled across more than 130 countries approve of China’s leadership, while 31% approve of US leadership.
Maxim Shemetov/Reuters Trump ousts Bondi from atop the Justice Department
The president made his decision official Thursday afternoon in an interview with Fox.
Kevin Lamarque/ReutersThe three questions a CEO should ask about their AI agents
Okta’s Todd McKinnon sees a digital workforce creating new vulnerabilities.
Courtesy of Okta/Joey Pfeifer/SemaforWhy JLL is betting its biggest clients will drive growth in ‘crazy’ times
Christian Ulbrich says companies succeed by reducing complexity for their clients.
Courtesy of JLL/Joey Pfeifer/SemaforThe cost of ‘war insurance’ in the Gulf has risen 1,900%
Traditional commercial insurance policies don’t cover armed conflict, sending property owners and developers to the specialty war market.
Mohamed Azakir/ReutersBlue Owl faces withdrawal flood as private credit jitters persist
Blue Owl’s largest fund, a $36 billion pot of corporate loans known by its ticker, OCIC, received redemption requests for 22% of its assets.
Brendan McDermid/File Photo/ReutersAD
Politics
US Navy/Handout via Reuters
Aaron Schwartz/Reuters Maxim Shemetov/Reuters
White House asks Congress to spend big on defense
The Trump administration asked lawmakers to boost defense spending by 42% while cutting all other spending by 10%.
US Navy/Handout via ReutersDebatable: Paying TSA workers
Trump went around Congress to pay TSA workers during the shutdown. There are doubts about the legality of his move.
Aaron Schwartz/Reuters World views China better than US, poll finds
A median 36% of those polled across more than 130 countries approve of China’s leadership, while 31% approve of US leadership.
Maxim Shemetov/Reuters Trump to propose 2027 budget
The president earlier this year suggested he could seek a defense budget of $1.5 trillion, which is about 50% more than lawmakers greenlit for this fiscal year.
Swalwell-FBI flap could backfire on Trump administration
The Democratic lawmaker is in the thick of his California gubernatorial campaign.
The world marks one year since ‘Liberation Day’
The US trade deficit increased last month, new data showed, exactly one year after President Donald Trump unveiled his sweeping tariff regime.
US destroys key Iran bridge as Trump threats fail to calm markets
Donald Trump’s renewed threats against Iran failed to drastically change the dynamic of the war or ease the market’s anxious posture.
Trump overhauls metal, drug tariffs
Makers of brand-name drugs who refuse the US’ demands to lower prices and relocate manufacturing to the US will face tariffs of 100%.
Trump ousts Bondi from atop the Justice Department
The president made his decision official Thursday afternoon in an interview with Fox.
US college students using AI despite school restrictions
More than half of US college students say they’re using the technology in their coursework at least once a week.
DCCC chief says tariffs will hand Democrats the House
“This anniversary is a reminder to the American people who’s responsible for making their lives harder,” said Suzan DelBene, D-Wash.
BusinessCourtesy of Okta/Joey Pfeifer/Semafor
The three questions a CEO should ask about their AI agents
Okta’s Todd McKinnon sees a digital workforce creating new vulnerabilities.
Courtesy of Okta/Joey Pfeifer/SemaforWhy JLL is betting its biggest clients will drive growth in ‘crazy’ times
Christian Ulbrich says companies succeed by reducing complexity for their clients.
Tesla sees modest quarterly sales uptick
Tesla sold slightly more cars in the first quarter of 2026 compared to the same period last year, but the figures missed expectations and failed to impress investors.
Asian oil refiners feel the heat from MidEast energy shortages
The Iran war is squeezing Asia’s oil refiners, forcing them to pay more or reduce output.
Blue Owl faces withdrawal flood as private credit jitters persist
Blue Owl’s largest fund, a $36 billion pot of corporate loans known by its ticker, OCIC, received redemption requests for 22% of its assets.
Technology
Courtesy of Anthropic
Priyanshu Singh/Reuters
Anthropic eyes its own version of OpenClaw
The popularity of OpenClaw, the agent platform that OpenAI acquired, has crystallized another big AI race.
Courtesy of AnthropicSycophantic AI might make us meaner, research suggests
A study found that AIs fed interpersonal dilemmas from the subreddit r/amItheasshole were twice as likely as humans to endorse the user’s behavior.
Priyanshu Singh/ReutersThe next generation of Silicon Valley garage startups is here
This time around, it’s the bedroom coders, some of whom are still in their teens.
Pentagon taps humanoid robot startups
Gun-shooting humanoid robots fighting on the front lines are becoming less of a dystopian fantasy.
Microsoft doesn’t mind following the leader on AI
Being first isn’t necessarily the same as winning.
OpenAI’s talk show acquisition points to the industry’s image problem
The story around AI has turned negative in many corners of the world outside of Silicon Valley.
Energy
Marco Bello/Reuters
Punit Paranjpe/File Photo/Reuters
Stringer/Reuters
Venezuela’s March oil exports boom
The boost in sales comes as part of US efforts to liberalize the country’s oil sector, which has spurred interest from investors.
Marco Bello/ReutersAsian oil refiners feel the heat from MidEast energy shortages
The Iran war is squeezing Asia’s oil refiners, forcing them to pay more or reduce output.
Punit Paranjpe/File Photo/ReutersThe oil market’s most important signals
There are a few key data points to watch out for to understand the real state of the energy market.
Stringer/ReutersGulf
Stringer/Reuters
Iran’s oil coffers bolstered by war
The US-Israeli attacks may have devastated Iran’s leadership and military, but the conflict has bolstered its oil income.
Stringer/ReutersThe cost of ‘war insurance’ in the Gulf has risen 1,900%
Traditional commercial insurance policies don’t cover armed conflict, sending property owners and developers to the specialty war market.
Trump tries to shift Hormuz burden
The US president said countries that depend on Gulf oil and gas should assume responsibility to “grab it and cherish it.”
US tech company eyes Saudi’s lithium resources
The kingdom has lithium and vanadium in its oil-field brine, which Pure Lithium wants to use to produce rechargeable batteries.
Gulf aluminum output tumbles on Iran war
The Gulf accounts for around 23% of global, non-China aluminum production, most of which is sold overseas.
Africa
DR Congo’s national team. Eloisa Sanchez/Reuters.
Per-Anders Pettersson/Getty Images
Record 10 African nations qualify for World Cup
Côte d’Ivoire, Egypt, and Ghana are among those due to compete in the tournament, as are Africa Cup of Nations finalists Morocco and Senegal.
DR Congo’s national team. Eloisa Sanchez/Reuters.South Africa’s water systems are ‘failing’
The findings of a new report present a crisis that resembles the early stages of the country’s national power grid collapse.
Per-Anders Pettersson/Getty ImagesStartup investor Novastar launches $147M climate fund
The Kenya-based firm has already made six investments from the fund, including in a Mexican biodigester producer that serves farmers in Kenya.
Flutterwave granted Nigerian banking license
The move is the latest sign of a push among Africa’s fintech leaders to capture more of the value in the continent’s growing digital economy.
Trump pick set to be installed as top Africa official
Senate aides told Semafor that the body is expected to vote soon on Frank Garcia’s confirmation to be Assistant Secretary of State for African Affairs.
Africa ‘needs capital’ to reap AI boom
African countries should mobilize more capital from domestic markets to adapt to the global shift in economic development sparked by AI, says a new UN report.
Security
David Dee Delgado/Reuters
NATO chief Mark Rutte and US President Donald Trump. Jonathan Ernst/Reuters
Denis Balibouse/Reuters
Trump fails to reassure investors on Iran war
Oil prices jumped and stocks fell after Trump’s address to the nation, in which he vowed to continue Iran attacks.
David Dee Delgado/ReutersTrump threatens to pull US out of NATO
The US president called the military alliance a ‘paper tiger’ for its refusal to back his war with Iran.
NATO chief Mark Rutte and US President Donald Trump. Jonathan Ernst/ReutersEurovision expands to Asia
Bangkok is set to host the international song competition in the fall.
Denis Balibouse/ReutersMedia
Joanna Stern on how AI told her to quit The Wall Street Journal
“It felt like the one big decision where I actually did trust AI,” she told Semafor’s “Mixed Signals” podcast.
Biden vet launches biweekly streaming show
Rob Flaherty and Jesse Lehrich will launch Nobody Knows Anything, a 90-minute biweekly show, later this month.
Axel Springer’s Döpfner courts UK conservative elites
The German mogul is courting regulators and the country’s influential conservative political figures as he attempts to get his bid to buy the Telegraph approved.
Substack rival Beehiiv makes a push into podcasting
Beehiiv has privately been reaching out to independent podcasters on Substack and other platforms.
CBS News expands its investigative team
The network is expanding its investigative journalism efforts as editor-in-chief Bari Weiss continues to reshape it.
CEO Signal
Courtesy of GSK/Joey Pfeifer/SemaforCourtesy of Okta/Joey Pfeifer/Semafor Courtesy of JLL/Joey Pfeifer/Semafor
Emma Walmsley on leading and leaving GSK
What does it take to hand over a company after years at the helm?
Courtesy of GSK/Joey Pfeifer/SemaforThe three questions a CEO should ask about their AI agents
Okta’s Todd McKinnon sees a digital workforce creating new vulnerabilities.
Courtesy of Okta/Joey Pfeifer/SemaforWhy JLL is betting its biggest clients will drive growth in ‘crazy’ times
Christian Ulbrich says companies succeed by reducing complexity for their clients.
Courtesy of JLL/Joey Pfeifer/SemaforAD