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The World at a Glance
Updated 6:25pm EDT
1
China banned its tech companies from using Nvidia’s AI chips, Beijing’s latest effort to gain global tech dominance over the US.
2Pomp defined US President Donald Trump’s second state visit to the UK, as Europe hopes to bolster Ukraine peace efforts.
3The US Federal Reserve cut interest rates for the first time this year and signaled two more reductions are coming.
4The EU unveiled plans to impose tariffs and sanctions on Israel, a move that will likely face resistance from member states.
5Countries are showing signs of eschewing partnerships with Washington, suggesting Donald Trump’s foreign policy approach is not paying off as he hoped.
6Nigeria sent its first gasoline shipment to the US, marking a new chapter for the country as a fuel exporter.
Anthropic irks White House with limits on models’ use
The AI firm declined requests by contractors working with federal law enforcement that could see its tools being used for surveillance.
Chance Yeh/Getty Images for HubSpotFed stares down a widely anticipated rate cut
Today’s Fed meeting takes place at a time of unprecedented political pressure on the central bank, in particular Chair Jerome Powell.
Jonathan Ernst/ReutersUAE has shifted ‘focus’ to Gaza aid over Israel trade
Non-oil trade between the two countries declined 5.5% in 2024.
Emirates News Agency-WAMTelecoms giant MTN holds data center talks with US, European firms
Africa has fallen behind wealthier regions in the global rush to build the digital infrastructure required for AI.
Ralph Mupita, CEO of MTN Group. Lluis Gene/AFP via Getty Images.AD
Dangote Refinery exports to the US
The exports mark the expansion of Africa’s largest oil refinery’s operation beyond just the local supply of refined products in Nigeria.
Marvellous Durowaiye/ReutersVaccine debate returns to Hill as former CDC chief testifies
Susan Monarez plans to tell senators that Health Secretary Robert F. Kennedy Jr. ordered her to get political aides’ approval for CDC decisions.
Kevin Mohatt/ReutersRepublicans split over Trump’s crackdown on liberal groups, political speech
The majority of the party is cheering his bid to knock back liberal groups. But some are wary of overreacting in Charlie Kirk’s name.
Ken Cedeno/ReutersPolitics
Ken Cedeno/Reuters
Kristoffer Tripplaar/Semafor
Daniel Becerril/File Photo/Reuters
Republicans eye a crime bill for Trump, and for the midterms
The Senate Judiciary chair is working with the administration on a measure that would go beyond DC. Whether it could pass is another story.
Ken Cedeno/ReutersJoe Manchin: The exit interview
The retiring West Virginia senator sat down with Semafor to discuss his past fame as a Democratic spoiler, the future of his former party and more.
Kristoffer Tripplaar/SemaforUS, Mexico, Canada conduct major trade review
Though the current framework was agreed during Donald Trump’s first term, concerns are rising that the president’s brinksmanship may derail the review.
Daniel Becerril/File Photo/ReutersTrump’s UK visit sees lavish ceremony — and protest
Demonstrators laid a giant photograph of Trump and Jeffrey Epstein outside the president’s quarters at Windsor Castle.
Dem voters want shutdown fight, poll shows
A new survey shows seven in 10 Democrats support their party’s representatives in Washington withholding votes unless Republicans make changes — even if it risks a shutdown.
Anthropic irks White House with limits on models’ use
The AI firm declined requests by contractors working with federal law enforcement that could see its tools being used for surveillance.
Vaccine debate returns to Hill as former CDC chief testifies
Susan Monarez plans to tell senators that Health Secretary Robert F. Kennedy Jr. ordered her to get political aides’ approval for CDC decisions.
Fed stares down a widely anticipated rate cut
Today’s Fed meeting takes place at a time of unprecedented political pressure on the central bank, in particular Chair Jerome Powell.
Republicans split over Trump’s crackdown on liberal groups, political speech
The majority of the party is cheering his bid to knock back liberal groups. But some are wary of overreacting in Charlie Kirk’s name.
Suspect in Charlie Kirk assassination charged with aggravated murder
Utah prosecutors vowed to seek the death penalty against Tyler Robinson.
Democrats put another $1.5 million into New Jersey race
‘We’re leaving nothing to chance,’ the DNC chair says.
Business
Tom Little/Reuters
NA beverages, GLP-1s an ‘existential threat’ to beverage business, José Andrés Group CEO says
The group’s global head, Sam Bakhshandehpour, said such trends hurt hospitality brands that largely depend on alcohol sales.
Tom Little/ReutersFed cuts interest rates for the first time in 9 months, signals 2 more this year
The quarter-point cut came against the backdrop of unprecedented pressure on the central bank from President Donald Trump.
Macquarie, Carlyle held takeover talks to create alts giant
Merger talks, which would have created a $1 trillion asset manager, fizzled this summer as Carlyle shares continued sharp rise.
US, Mexico, Canada conduct major trade review
Though the current framework was agreed during Donald Trump’s first term, concerns are rising that the president’s brinksmanship may derail the review.
Fed stares down a widely anticipated rate cut
Today’s Fed meeting takes place at a time of unprecedented political pressure on the central bank, in particular Chair Jerome Powell.
Technology
James Glover II/File Photo/Reuters
Dado Ruvic/Illustration/File Photo/Reuters
Elon Musk’s pay deal is a better model for CEO compensation
Musk’s $1 trillion pay package, which gives bigger rewards for real, long-term success, makes more sense than current short-term compensation structures.
James Glover II/File Photo/ReutersOpenAI, Anthropic usage data shows economic divide
New reports added fresh data to the worldwide debate over the AI’s economic impact and testing the companies’ own predictions.
Dado Ruvic/Illustration/File Photo/ReutersAmericans less confident in leading AI than 1965 space race: Survey
A Gallup survey found that just 15% of Americans are confident the US will have the most advanced AI in a decade, as the country competes for dominance with China.
Genetic bioengineering firm steps closer to reviving the dodo
Colossal Biosciences, whose mission is to bring extinct animals back to life, also announced an additional $120 million in funding, valuing it at $10.3 billion.
Anthropic irks White House with limits on models’ use
The AI firm declined requests by contractors working with federal law enforcement that could see its tools being used for surveillance.
Anthropic presses lawmakers on AI’s economic impact
CEO Dario Amodei said elected leaders ‘need to start thinking about’ AI-driven job losses.
Net Zero
Eli Hartman/Reuters
Environmental Protection Agency Administrator Lee Zeldin. Raquel Cunha/Reuters
Stringer/Reuters
IEA report points to Big Oil’s spending problem
The oil and gas industry is spending about $500 billion a year just to maintain consistent production from existing wells, a new IEA report found.
Eli Hartman/ReutersEPA to stop collecting emissions data from polluters
Critics said that without this data, governments can’t identify emission sources — or reduce them.
Environmental Protection Agency Administrator Lee Zeldin. Raquel Cunha/ReutersJPMorgan is still bullish on the energy transition
In a report shared exclusively with Semafor, the largest US bank explains why and how it’s advising clients to plan for a ‘new energy security age.’
Stringer/ReutersGulf
Tom Brady and Turki Al-Sheikh, Chairman of Saudi’s General Entertainment Authority. @turki/Instagram.
Tom Brady comes out of retirement to play flag football in Saudi
The NFL athlete is the latest fading sports star to land a lucrative gig in the kingdom.
Tom Brady and Turki Al-Sheikh, Chairman of Saudi’s General Entertainment Authority. @turki/Instagram.Abu Dhabi AI firm MGX lands stake in US chipmaker Altera
Altera makes semiconductors that can be reprogrammed after they leave the factory, making them useful in robots, cloud servers, and telecom hardware.
Saudi’s PIF partners with pension fund for aircraft leasing unit
Pension fund Hassana has been taking an increasingly prominent role backing global fund managers that commit to investing in Saudi Arabia.
Saudi renews bid to be Middle East fintech leader with Riyadh conference
At a packed exhibition hall this week, more than 1,000 investors and executives from mostly US and Chinese firms mingled with local startups.
Oil bears are missing the market’s underlying strength
OPEC+ production boost, China’s stockpiling, and anemic investment indicate that demand may be stronger than anticipated.
AfricaRalph Mupita, CEO of MTN Group. Lluis Gene/AFP via Getty Images. Marvellous Durowaiye/Reuters
Telecoms giant MTN holds data center talks with US, European firms
Africa has fallen behind wealthier regions in the global rush to build the digital infrastructure required for AI.
Ralph Mupita, CEO of MTN Group. Lluis Gene/AFP via Getty Images.Dangote Refinery exports to the US
The exports mark the expansion of Africa’s largest oil refinery’s operation beyond just the local supply of refined products in Nigeria.
Marvellous Durowaiye/ReutersNigeria suspends key import levy
The move comes as the government seeks to push trade growth and tame inflation.
Major African currencies depreciated 51% since 2020
Currency weakness in Africa has been “more damaging” compared to other emerging regions, Nigerian data analytics company Stears said in a report.
DR Congo backs $400M satellite deal to tackle digital deficit
Only one in three Congolese are connected to mobile internet, according to the latest available figures.
Malawi election plagued by gerontocracy concerns
Peter Mutharika, 85, is poised to return to power, in a growing trend on the world’s youngest continent towards older leadership.
Security
e European Commission’s High Representative for Foreign Affairs Kaja Kallas. Yves Herman/Reuters
Sputnik/Mikhail Metzel/Pool via Reuters
Lefteris Karagiannopoulos/Reuters
EU proposes sanctions against Israel over Gaza
The measures must be approved by member countries in order to pass.
e European Commission’s High Representative for Foreign Affairs Kaja Kallas. Yves Herman/ReutersRussia and Belarus tests NATO’s resolve with military drills
The rehearsals, which included the launching of tactical nuclear weapons, were dubbed ‘Zapad 2025,’ or ‘West 2025.’
Sputnik/Mikhail Metzel/Pool via ReutersJapan invests in subsea cable-laying ships
Japan’s NEC Corporation dominates cable installations in Asia, but has only one oceanic cable-laying vessel.
Lefteris Karagiannopoulos/ReutersMedia
Courtesy of Equator
New ‘post-American’ global magazine to launch
Equator will “challenge the reigning assumption that global events should be narrated by and for the West.”
Courtesy of Equator‘The verdict of history will be merciless’: A new left media rises in the age of Trump
Drop Site News is bringing on a new publisher as it and other leftist news sites get scoops and momentum.
How AI is reshaping media, with Google’s VP of marketing, Josh Spanier
How does Google think about advertising?
Trump threatens to sue NYT over Epstein coverage
The US president is already suing The Wall Street Journal and its owner Rupert Murdoch for its reporting on the Epstein files.
LeBron James did not write essay published in Chinese state media: Reports
American basketball LeBron James did not write an essay in a Chinese state media outlet that was attributed to him, The Athletic reported.
CEO Signal
Robert Galbraith/Reuters
Jemal Countess/Getty Images for Fortune Media
Brendan McDermid/Reuters
Bloom Energy’s KR Sridhar on why all CEOs need a power strategy
The fuel cell group’s founder says companies need “the DNA of a rabbit” to move at AI speed, because “there’s not much you can do to the culture of a turtle to make it go faster.”
Robert Galbraith/ReutersHow Paul Hudson runs Sanofi’s AI ‘Fight Club’
The French drugmaker’s CEO says the revolution will not be delegated.
Jemal Countess/Getty Images for Fortune Mediae.l.f. Beauty’s CEO on diversity, tariffs, and valuing Hailey Bieber
Tarang Amin runs a “different kind of company” but faces challenges familiar to other executives.
Brendan McDermid/ReutersAD