- D.C.
- BXL
- Lagos
- Riyadh
- Beijing
- SG
Intelligence for the New World Economy
- D.C.
- BXL
- Lagos
- Riyadh
- Beijing
- SG
Africa
The fight to uncover the Nigerian president’s FBI files
President Tinubu has enlisted US lawyers to keep records from a 1990s Chicago drug probe sealed but a lone California activist has been thorn in his side.
US ‘unapologetic’ in ‘pursuit of national power,’ Rubio says
The US’ top diplomat made the case for NATO allies to build self-reliance at a speech in Athens.
The World at a Glance
Updated 6:45pm EDT
1
The odds of an interest rate increase at the US Federal Reserve’s October meeting sank after the bank published its minutes, though Fed watchers priced in a December hike.
2The cost of hiring one very large crude carrier to move US oil to Asia topped $77 million, as attacks on tankers rose across multiple theaters of war.
3The US would be “unapologetic” about its “pursuit of national power,” Marco Rubio said at a speech in Athens, pressing NATO allies to build self-reliance.
4French authorities suspended the use of stun grenades as protests over school conditions spread to more than 40 cities.
5British Airways said its Airbus A380 will have the world’s largest business class section, as airlines race to adapt to a growing premium sector.
6Oil prices held over $100 a barrel as supply route concerns outweighed reports of increased supply from the Gulf amid the merging of regional conflicts.
Republican leadership of Senate health panel in doubt
It’s unclear who will replace Louisiana Sen. Bill Cassidy as the top Republican on the Senate HELP Committee.
Fewer Americans support companies taking stances on hot-button issues: poll
Forty-seven percent of Americans support businesses taking stances on current events, per Gallup — down from a high of 51% last year.
How Democrats can win the Latino vote
Polling by Voto Latino shared shows 40% of Latinos backing Democrats on the generic ballot, while just 21% support Republicans.
Gallego rolls out ambitious plan to insulate workers against AI
The Arizona Democratic senator talked about his agenda with Semafor — but demurred on how he’ll handle 2028.
Oct. 7 failures plague Netanyahu’s reelection bid
Three years after Hamas’ deadly assault on the country, Israel stands more internationally isolated than ever.
No Gaza peace three years after Oct. 7
President Trump’s Board of Peace unveiled a $2.45 billion Gaza recovery plan at a recent meeting, but the goals remain out of reach.
View / The West’s open-source AI race kicks into high gear
Several Western tech firms have released open-source models over the past week.
AD
Politics
Fewer Americans support companies taking stances on hot-button issues: poll
Forty-seven percent of Americans support businesses taking stances on current events, per Gallup — down from a high of 51% last year.
Brian Snyder/Reuters
Republican leadership of Senate health panel in doubt
It’s unclear who will replace Louisiana Sen. Bill Cassidy as the top Republican on the Senate HELP Committee.
Nathan Howard/Reuters
How Democrats can win the Latino vote
Polling by Voto Latino shared shows 40% of Latinos backing Democrats on the generic ballot, while just 21% support Republicans.
Maria Teresa Kumar, Voto Latino’s CEO. Mike Segar/Reuters
Senate rules would change under sweeping bipartisan proposal
Sens. Steve Daines, R-Mont., and Jeff Merkley, D-Ore., want to make it easier for the body to pass popular bills.
US ‘unapologetic’ in ‘pursuit of national power,’ Rubio says
The US’ top diplomat made the case for NATO allies to build self-reliance at a speech in Athens.
The five takes that will define this midterm campaign
Many different kinds of Democrats are grabbing credit for midterm victories that aren’t official yet. Here’s your guide to the pre-spin cycle.
Is ‘abundance’ really dead?
The movement faced a wall of progressive resistance, but some Democrats are still embracing its ideas.
Unions look beyond their rolls to build a new movement
State labor groups are rolling out a broad populist agenda.
Gallego rolls out ambitious plan to insulate workers against AI
The Arizona Democratic senator talked about his agenda with Semafor — but demurred on how he’ll handle 2028.
Trump haters are more confident in election integrity, poll finds
Sixty-three percent of Democrats say they have confidence in election integrity, according to Gallup polling.
Trump Account changes could take heat next year
The Treasury Department moved last week to automatically enroll tens of millions of children and greenlight donations of individual stocks.
Business
British Airways launches world’s largest business class section
British Airways adapts to a growing premium sector by announcing that their Airbus A380s’ business class sections will be the biggest on the market.
Toby Melville/Reuters
US Fed minutes show bank is unlikely to hike rates in October
Federal Reserve watchers did price in a December hike.
Tanker hiring costs surge amid shipping threats
The cost of hiring one very large crude carrier to move US oil to Asia topped $77 million, new data showed Wednesday.
Hyperscalers won’t stop spending until shareholders make them
Hyperscalers are spending themselves into oblivion, spreading inflation well beyond Silicon Valley and obscuring problems nearly everywhere else.
New Skydance CEO Kreiz will be Ellison’s enforcer
Investors are warily eying Skydance’s freshly downgraded debt, and layoffs are coming.
Technology
Tech companies play whack-a-mole with rogue AI
Agentic AI hacks pose major issues for governments and tech companies alike.
Dado Ruvic/Reuters
US and China take different approaches to AI agents
OpenAI’s dots and Meta’s Muse are built around the assistant first and then sent out to use other companies’ websites and services.
Go Nakamura/Reuters
AI video startup Higgsfield launches tool to build custom AI influencers
The company has updated its AI influencer tool, making it easier for users to insert a character of their own creation into existing videos.
The West’s open-source AI race kicks into high gear
Several Western tech firms have released open-source models over the past week.
SpaceX looks to $40 billion debt raise to buy chips
The company’s reported raise shows it is stuck between mature tech giants like Google and Meta and startups like OpenAI and Anthropic.
Alex Stamos on Silicon Valley’s ‘nihilism,’ and the line between real AI risks and imagined ones
In the debut episode of Future Proof from Semafor Technology, Cognition CISO and former Facebook security chief Alex Stamos goes off on the “nihilism” ripping through Silicon Valley.
Energy
Tanker hiring costs surge amid shipping threats
The cost of hiring one very large crude carrier to move US oil to Asia topped $77 million, new data showed Wednesday.
Yoruk Isik/Reuters
China expands ultra-deep oil and gas drilling efforts
China broke oil and gas production records in 2025, though it has hastened its efforts this year in a bid to shield itself from war-related vicissitudes in global energy markets.
Stringer/Reuters
Bulgarian tankers struck in Black Sea as shipping fears mount
Drones struck two tankers in the Black Sea near Bulgaria on Tuesday, in the first attack on shipping in the NATO member’s exclusive economic zone.
Stringer/Reuters
Gulf
The Gulf’s new era of defense spending regardless of Washington stalemate
Blackstone, Brookfield, and KKR agreed to invest $16 billion in July for a 49% stake in Kuwait’s oil pipeline network.
IRGC/WANA/Handout via Reuters
Alabbar advances $18 billion Syria projects
Alabbar said he would prioritize using Syrian contractors and sourcing supplies locally for the projects.
New app Mazal targets luxury license plate resale market
Mazal’s founders say plates worth $463 million have changed hands in three years, and that the market is growing by about 20% a year.
Saudi’s expat workforce shrinks for the first time in more than two years
Foreigners employed in the country, excluding domestic workers, fell by 16,000 in the three months to June, driven by a drop in construction jobs.
Abu Dhabi backs Jordan’s $2.3B railroad to replace truck convoys to Aqaba
The UAE is investing in rail infrastructure across the region, including Etihad Rail at home, Hafeet Rail to Oman, and other links through Jordan.
China
China is coming, slowly, for the dollar
Atlantic Council data shows the dollar still dominates trade and FX, but China’s competitor is gaining ground.
Maxim Shemetov/Reuters
China expands ultra-deep oil and gas drilling efforts
China broke oil and gas production records in 2025, though it has hastened its efforts this year in a bid to shield itself from war-related vicissitudes in global energy markets.
Stringer/Reuters
China has resolved its ‘Malacca Dilemma’
China has survived the global energy disruption largely unscathed, while the island economies around it are struggling.
Supri/Reuters
Africa
The fight to uncover the Nigerian president’s FBI files
President Tinubu has enlisted US lawyers to keep records from a 1990s Chicago drug probe sealed but a lone California activist has been thorn in his side.
Illustration: Kevin Zweerink/Semafor, Photos: Adriano Machado/Tom Brenner/Reuters
Ethiopia renews push for Red sea access
After being sworn in for a second full term, Prime Minister Abiy Ahmed said his government would work diligently to ensure Ethiopia had “an outlet to the sea.”
Ethiopia’s Prime Minister Abiy Ahmed being sworn in. Prime Minister’s Office/Handout via Reuters.
South Africa under pressure to provide $600M fuel relief
The Iran war drove petrol prices to record highs in the continent’s biggest economy.
DR Congo uncovers $20B in payments to ineligible mining suppliers
The country is courting new mining investment and seeks to ensure that Congolese partners have a genuine stake in the businesses supplying its mines.
Nigeria’s $8B oil security costs spark controversy
State oil company NNPC said it incurred the cost to protect oil facilities.
Africa launches credit rating agency
African Union’s new rating agency promises to add a fresh voice in a market dominated by the Big Three credit rating agencies.
Security
Student protests in France spread to more cities
French authorities suspended the use of stun grenades after a teenager lost his hand during clashes with police.
Sarah Meyssonnier/Reuters
Oct. 7 failures plague Netanyahu’s reelection bid
Three years after Hamas’ deadly assault on the country, Israel stands more internationally isolated than ever.
Ammar Awad/Reuters
US ‘unapologetic’ in ‘pursuit of national power,’ Rubio says
The US’ top diplomat made the case for NATO allies to build self-reliance at a speech in Athens.
Mark Schiefelbein/Pool via Reuters
Media
New Skydance CEO Kreiz will be Ellison’s enforcer
Investors are warily eying Skydance’s freshly downgraded debt, and layoffs are coming.
Kris Tripplaar/Semafor
Marc Elias’ Democracy Docket sees Trump 2.0 success
One of the Democratic Party’s most prolific lawyers also is becoming one of its most prolific posters.
CEO’s podcast sparks tensions atop The Atlantic
Nicholas Thompson’s podcast, “The Most Interesting Thing in AI,” has been a source of friction at the magazine.
AI nonprofit will spend $10 million on journalism
A Silicon Valley nonprofit close to the AI safety movement is funding coverage of artificial intelligence.
Euractiv relaunches as ‘Rapporteur’ in Brussels
The newsroom, founded in 1999, has rebooted in recent years as a competitor to Politico Europe.
CEO Signal
‘It’s not about the champagne:’ Why VistaJet thinks the private flights boom can last
Founder Thomas Flohr is keeping IPO options open as he expands his global fleet.
How Greg Jackson runs Octopus Energy with no HR, no bonuses, and no succession plan
The serial founder relies on “family dinners,” accessibility, and a disdain for bureaucracy.
How Harvard Business School’s former dean thinks AI will test today’s CEOs
Nitin Nohria sees the technology as a decentralizing force that will challenge company power structures.
AD