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The next ‘affordability’ battle could be over your PlayStation
The Green New Deal fades as climate activism evolves
The World at a Glance
Updated 6:22pm EDT
1
Iran rejected a US peace plan and laid out its own conditions for entering negotiations, setting a high bar.
2Supply shocks stemming from the Iran war will expand beyond fuel markets — to the benefit of China and Russia.
3A US jury found Meta and YouTube negligent in a landmark social media addiction trial, a verdict carrying major implications for other cases.
4Tensions between China and Japan flared further this week after a Japanese army officer was accused of breaking into the Chinese embassy in Tokyo.
5The US deployed thousands more troops to the Middle East, even as Trump said an Iran deal was close.
6The world’s imbalance between incoming and outgoing energy is growing ever faster, the UN warned.
Senators reach deal on capping insulin costs at $35
Jeanne Shaheen of New Hampshire and Susan Collins of Maine have spent years crafting the agreement, which has conservative and progressive clout but no Trump backing yet.
Ritzau Scanpix/Ida Marie Odgaard via Reuters and Kylie Cooper/ReutersProgressives oppose funding ‘illegal’ Iran war
Democrats have started to unite against more funding.
Nuri Vallbona/Reuters UAE’s largest school operators look to reopen
Continued distance learning is starting to look like an outlier as the country seeks to project a mood of “business as usual.”
A school in Dubai, pictured in 2024. Rula Rouhana/Reuters.Riyadh’s sense of calm shifts after missile alerts
A conflict seen as a distant threat by most residents of the Saudi capital began to feel much closer last week.
Faisal Al Nasser/Reuters Bessent plays point on Iran economic messaging
As President Donald Trump scrambles to contain market fallout from Iran, his administration is tapping the treasury secretary to make its case.
Evelyn Hockstein/ReutersWhite House doubles down on AI bill
“We have to find a way to create a bipartisan piece of legislation that can pass both houses of Congress,” Office of Science and Technology Policy Director Michael Kratsios said.
Jonathan Ernst/Reuters Trump touts Iran progress amid strikes
Oil prices ticked back up and stocks slid as Israel and Iran traded strikes.
Mohammed Torokman/Reuters
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Politics
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
Evan Vucci/Reuters
Team Stratton/YouTube
Iran rejects US proposal to end war
Iran on Wednesday rejected a US peace plan and laid out its own conditions for entering negotiations, setting a high bar.
Majid Asgaripour/WANA (West Asia News Agency) via Reuters‘Nervous for wins’: Trump squeezed by war and shutdown
The war in Iran is grinding on, air travel is choked by a shutdown, and the president has few easy paths to victory.
Evan Vucci/ReutersHow a profane anti-Trump ad helped Stratton break through
The Illinois lieutenant governor prevailed in a crowded Senate primary thanks in part to a buzzy spot whose creator talked to Semafor.
Team Stratton/YouTubeThe Green New Deal fades as climate activism evolves
The Sunrise Movement, a nine-year old climate nonprofit, is politically inseparable from the Green New Deal it promoted — except that it barely talks about the idea anymore.
US sends more troops to Gulf, despite talk of Iran deal
The arrival of 2,000 more troops suggests that Trump is maintaining the option of escalating hostilities, even as he said talks with Iran were taking place.
Senators reach deal on capping insulin costs at $35
Jeanne Shaheen of New Hampshire and Susan Collins of Maine have spent years crafting the agreement, which has conservative and progressive clout but no Trump backing yet.
White House doubles down on AI bill
“We have to find a way to create a bipartisan piece of legislation that can pass both houses of Congress,” Office of Science and Technology Policy Director Michael Kratsios said.
Lawmakers introduce revamped bipartisan deposit insurance bill
Under the new approach, the FDIC could select its own threshold between $250,000, where it sits right now, and $5 million.
Progressives oppose funding ‘illegal’ Iran war
Democrats have started to unite against more funding.
Bessent plays point on Iran economic messaging
As President Donald Trump scrambles to contain market fallout from Iran, his administration is tapping the treasury secretary to make its case.
LaGuardia collision highlights US aviation woes
Federal investigators suggested that overlapping failures stemming from staffing and technology issues led to the deadly crash between a plane and a fire truck.
Business
Kylie Cooper/Reuters
JetBlue explores potential merger partners
The unprofitable airline has tapped advisers to scenario-plan how a merger with United, Alaska, or Southwest might fare in Trump’s Washington, people familiar with the matter said.
Kylie Cooper/ReutersOil-rich nations seek to gain on price hikes
Canada and Norway are among nations seeking to capitalize on energy market volatility sparked by the Iran war.
Investors warn of rising interest rates as inflation worries mount
A month ago, traders were betting on a 93% chance of US Federal Reserve rate cuts this year; that has now essentially flipped.
Jet fuel price spike means higher airfares
A spike in jet fuel prices stemming from the Iran war is passing through to consumers, resulting in more expensive airfares for summer travel, analysts said.
Volkswagen inks Iron Dome deal in defense pivot
Volkswagen is pivoting from cars to military tech at one of its factories, a reflection of the challenges facing Germany’s auto sector.
Technology
Mike Blake/Reuters
YouTube, Meta lose landmark social media addiction case
The companies must pay a combined $6 million in damages after being accused of harming kids and teens with platforms as addictive as cigarettes.
Mike Blake/ReutersCalifornia Sen. Wiener on the BASED Act
The legislator spoke to Semafor’s Reed Albergotti about his efforts to rein in the AI industry’s biggest players.
The next ‘affordability’ battle could be over your PlayStation
The price backlash is on the brink of exploding in another sector of the economy, as the AI boom raises the cost of consumer electronics.
Meta ramps up AI adoption push
Meta appointed its chief technology officer to oversee efforts to drive AI adoption across its workforce, The Wall Street Journal reported.
NASA aims to build $20B lunar base
NASA is abandoning efforts to build a space station orbiting the Moon, and will instead put $20 billion toward a lunar base, officials announced Tuesday.
US robot-makers’ push to counter China ‘in a hold’ ahead of Trump-Xi summit
US robotics executives said they don’t expect any major policy action on China until Donald Trump’s now-delayed meeting with Xi Jinping.
Energy
Russian fertilizer plant. Kirill Braga/Reuters
Essam al-Sudani/Reuters
Carlos Barria/Reuters
Iran war supply shocks give China, Russia leverage
The supply shocks stemming from the Iran war will expand beyond just fuel markets — to the benefit of China and Russia, analysts said.
Russian fertilizer plant. Kirill Braga/ReutersThe world’s new energy security age
Energy security used to be defined by access to fossil fuels. Today, the competition revolves around a much broader system.
Essam al-Sudani/ReutersUS grid grows more vulnerable to cyberattacks
The Department of Energy is working to share more threat intelligence with utilities, a senior US energy official told Semafor.
Carlos Barria/ReutersGulf
A cargo ship near the Strait of Hormuz. Stringer/Reuters.
‘Zombie tankers’ sail in the Strait of Hormuz
At least two tankers have passed through the strait while impersonating ships scrapped long ago, as Iran continues to exert a tight hold on traffic through the waterway.
A cargo ship near the Strait of Hormuz. Stringer/Reuters.Riyadh’s sense of calm shifts after missile alerts
A conflict seen as a distant threat by most residents of the Saudi capital began to feel much closer last week.
UAE’s largest school operators look to reopen
Continued distance learning is starting to look like an outlier as the country seeks to project a mood of “business as usual.”
Saudi promotes Trump ties in Miami, even as war rages
Trump’s scheduled attendance at a Saudi investment conference in Miami this week could solidify the Gulf country’s ties to the US administration, despite a war Riyadh didn’t want.
Dubai hotel occupancy plummets as war grips region
Hotels have shut floors or entire buildings, cut staff costs, and are offering steep discounts to residents as they prepare for a prolonged slump.
Africa
Ghanaian President John Dramani Mahama. Bernd von Jutrczenka/picture alliance via Getty Images.
Christopher Pillitz/Getty Images
Ghanaian president accuses US of erasing Black history
John Dramani Mahama warned that US policies could have ripple effects in other parts of the world.
Ghanaian President John Dramani Mahama. Bernd von Jutrczenka/picture alliance via Getty Images.Heat-related deaths in Africa projected to rise
Burkina Faso, Mauritania, and Niger are among those that will see such deaths rise.
Christopher Pillitz/Getty ImagesNamibia blocks Starlink entry into telecoms market
Windhoek is enforcing local ownership rules that have become a point of contention for foreign firms operating in Africa.
Kenya Airways sees passenger numbers surge over Iran war
African aviation is facing a stress test as a result of the conflict, as fuel costs rise and routes are closed in the Middle East.
Supply chain shocks reinforce local production needs
Local production offers “resilience against shocks,” one pan-African industrial park developer told Semafor.
Mobile money apps drive Nairobi stock investment
Kenyan mobile money users have doubled the number of active retail investors on the country’s main stock exchange, executives said at Semafor’s Next 3 Billion event.
Security
DVIDS/Handout via Reuters
USAF B-1 bomber at RAF Fairford airbase. Toby Shepheard/Reuters
Majid Asgaripour/WANA (West Asia News Agency) via Reuters
US sends more troops to Gulf, despite talk of Iran deal
The arrival of 2,000 more troops suggests that Trump is maintaining the option of escalating hostilities, even as he said talks with Iran were taking place.
DVIDS/Handout via ReutersEurope quietly supports US campaign against Iran
US military bases in the UK, Germany, Portugal, Italy, France, and Greece are fueling and launching American bombers and drones.
USAF B-1 bomber at RAF Fairford airbase. Toby Shepheard/ReutersIsrael kills Iran intel chief
Esmail Khatib’s death came within 24 hours of Israeli strikes taking out Iran’s security chief and the head of its feared paramilitary force.
Majid Asgaripour/WANA (West Asia News Agency) via ReutersMedia
Screenshot of Vox’s website
Vox Media tried to sell its podcasts, and itself
The company now says its podcast network is not for sale.
Screenshot of Vox’s website Newsom calls FCC chairman’s threats ‘sick’
The California governor argued people from all political perspectives should be concerned about federal regulators weighing in on news content.
Why (and how) everyone is cold-calling the president
Plus, what happened when Semafor’s Max Tani gave him a ring.
Oscars mask a Hollywood in crisis
As Hollywood celebrates the Oscars on Sunday, the glitz masks a deeper crisis for the entertainment industry: rising production costs.
AI is the latest gatekeeper between brands and buyers
Companies are now writing ad copy for bots, not people, and those bots are telling consumers what products to buy.
CEO Signal
Courtesy of IonQ/Joey Pfeifer/Semafor 
Courtesy of Starbucks/Joey Pfeifer/Semafor
Courtesy of BETA/Joey Pfeifer/Semafor
Why CEOs should care about the quantum ‘space race’
IonQ’s Niccolo de Masi says getting quantum security right is ‘a matter of survivability.’
Courtesy of IonQ/Joey Pfeifer/Semafor How Brian Niccol jolted Starbucks back to growth
Corporate turnarounds require quick decisions and ‘brutal’ feedback for the CEO, Niccol said in the first episode of Semafor’s ‘CEO Signal’ show.
Courtesy of Starbucks/Joey Pfeifer/SemaforHow Kyle Clark got BETA’s air taxis ready for takeoff
The electric aircraft company’s CEO has a ‘burn-the-boats’ approach to decision-making.
Courtesy of BETA/Joey Pfeifer/SemaforAD