Analysis: How to reform Africa’s top development bank
Tariffs add a new twist to the tax fight for blue-state Republicans
The World at a Glance
Updated 1:12pm EDT
1
Russian leader Vladimir Putin said he will ‘analyze’ Ukraine’s proposal to halt strikes on civilian infrastructure after a failed Easter ceasefire.
2The World Bank and IMF opened their annual spring meetings Monday amid plummeting global business and economic confidence.
3Trade negotiations in Washington will ramp up this week, as representatives of several Asian countries aim to evade US President Donald Trump’s trade war.
4Pope Francis, the first Latin American leader of the Roman Catholic Church, has died, aged 88.
5The US dollar weakened and stocks fell after Donald Trump threatened to fire the chair of the Federal Reserve.
6Russia launched a major aerial attack on Ukraine, ending an Easter truce that Kyiv anyway said was repeatedly violated.
Pope Francis has died, aged 88
Francis was often dubbed “the pontiff of firsts,” and ushered in a new era for the Vatican.
Vatican Media/File Photo/Handout via ReutersTariffs set to dominate World Bank and IMF spring meetings
Donald Trump’s unpredictable trade policies threaten the Bretton Woods system, analysts warned.
Leah Millis/ReutersLate Pope Francis’ Catholic Church defined by humility, openness
Pope Francis’ election was seen as ushering in an era of decentralization and progressive changes, but critics argued those ambitions were not entirely realized.
Osservatore Romano/Vatican Media/File Photo/Handout via ReutersChina’s trade war playbook is coming into focus
Beijing’s strategy is evolving: In recent days, China has wielded non-tariff weapons to put pressure on American companies specifically.
Tingshu Wang/ReutersAD
Gulf delegations join global business leaders for IMF and World Bank spring meetings amid economic turmoil
The stock market rout and trade tensions are dampening the mood. The IMF downgraded its global growth forecast for the year, while the WTO expects goods trade to grow just 0.2%.
Leah Millis/ReutersIndian Prime Minister Narendra Modi to visit Saudi Arabia, meet with crown prince
It will be Modi’s third visit since 2016 to the kingdom, a major supplier of energy, buyer of goods, and source of remittances from Indian workers. The talks will touch energy, food security, and a trade connectivity plan.
Left: Athit Perawongmetha/Reuters; Right: Saudi Press Agency.World Bank’s investment arm targets rise in African equity investments
The head of the IFC told Semafor the aim is to enable companies to grow without the “burden” of debt repayments.
Henry Nicholls/Reuters
politics
Bryan Smith/Zuma/Reuters
Leah Millis/Reuters
Katerina Ang/Reuters
While fighting Trump deportations, Democrats still avoid ‘abolish ICE’
A powerful progressive slogan in 2018 has all but vanished from the party’s messaging, even as it takes on the president’s aggressive migration agenda.
Bryan Smith/Zuma/ReutersHegseth looks safe at the Pentagon — for now
As damaging reports and firings pile up, the president is sticking by his defense secretary. There’s still some doubt he can hang on.
Leah Millis/ReutersTariffs add a new twist to the tax fight for blue-state Republicans
GOP lawmakers in battleground seats may have to wrestle with upended local economies as they seek a state and local tax deal.
Katerina Ang/ReutersDebatable: Trump’s ‘Wall Street vs. Main Street’ argument for tariffs
Two experts debate whether the Trump administration’s dichotomy is a useful way of understanding his levies.
Reported US State cuts spark concern in Washington
A purported draft executive order proposes various cuts at the department, including eliminating a bureau devoted to sub-Saharan Africa.
Trump’s showdown with the courts escalates as he blames a judge for creating tensions
The White House accused a federal judge of escalating tensions, heightening a showdown between Trump and the courts.
Conor Lamb: CECOT is a ‘gulag’
The Pennsylvania Democrat, who is not running for anything, talks about marshalling resistance to the Trump administration.
The GOP’s Harvard alumni side with Trump
Meanwhile, a Democratic alumnus says the president’s escalations against Harvard are unlawful.
Bernie-backed El-Sayed runs for Senate in Michigan
The physician and progressive activist is jumping into Democrats’ first seriously contested primary in the state in a generation.
Trump advisers ‘bullish’ on a TikTok solution — even as China trade war heats up
The administration’s professed optimism came as the White House pushed Beijing harder.
Trump signs order removing limits on the locations of federal agencies
The new directive comes one day after an administration deadline for submission of potential plans to move offices outside the Washington, DC area.
businessTingshu Wang/Reuters
China’s trade war playbook is coming into focus
Beijing’s strategy is evolving: In recent days, China has wielded non-tariff weapons to put pressure on American companies specifically.
Tingshu Wang/ReutersActivist seeks CEO change at Hewlett Packard Enterprise
The $20 billion server-maker has struggled to gain investor approval and market share under CEO Antonio Neri.
Activist Robby Starbuck plans lobbying arm to make the anti-DEI revolution stick
Corporate America’s most potent adversary is planning a lobbying group for “long-term corporate oversight” of companies’ diversity policies “to ensure that this never happens again.”
White House plans to target university investments
White House officials plan to examine university endowment efforts as part of a multi-front pressure campaign on elite colleges.
Trump says tariffs will boost US manufacturers, but many are not so sure
Businesses with large production footprints in the US are increasingly warning of budget cuts and layoffs.
technology
Annegret Hilse/Reuters
Courtsy of Badge Inc.
Google operates illegal monopoly in online ad business, judge rules
The decision marks the second time in a year that the tech giant has been found to have acted illegally to maintain its dominance.
Annegret Hilse/Reuters‘Fuzzy logic’ encryption offers a path to safer, easier authentication
The legendary technologist known as “Darpa Dan” joined Badge, which is developing biometric authentication software accessible from anywhere, without storing user data.
Courtsy of Badge Inc.Tech carveout adds to global uncertainty over Trump tariffs
The new exemption signaled a possible softening of the president’s aggressive trade agenda, but the reprieve may be brief.
Analysis: Trump’s tariffs won’t tank the tech industry, but AI plans seem in limbo
The Trump administration’s biggest impact on the tech industry is in government-funded research and development, which will determine whether the US stays ahead.
Data center in UK becomes proving ground for new carbon capture technology
Orbital Materials, founded by an ex-DeepMind researcher, is piloting a technology to capture carbon from the hot air emitted by data centers.
An AI startup says its new tool will help investors make smarter deals, faster
Brightwave launched a new tool that’s meant to free up investors to build relationships and review more deals, the startup exclusively told Semafor.
net zero
Nick Oxford/File Photo/Reuters
Arvin Temkar/The Atlanta Journal-Constitution/Reuters
Costfoto/NurPhoto/Reuters
Clean energy companies paring back climate talk
Downplaying climate in corporate messaging may be a smart political move but risks putting companies out of touch with their customers, analysts warned.
Nick Oxford/File Photo/ReutersHow a trade war with China helps (some) US clean tech companies
Battery companies have been preparing for a rift with Chinese suppliers for years.
Arvin Temkar/The Atlanta Journal-Constitution/ReutersChina can win an energy trade war with the US
Losing access to the US market could be great for China’s clean tech companies.
Costfoto/NurPhoto/ReutersgulfLeah Millis/Reuters
Gulf delegations join global business leaders for IMF and World Bank spring meetings amid economic turmoil
The stock market rout and trade tensions are dampening the mood. The IMF downgraded its global growth forecast for the year, while the WTO expects goods trade to grow just 0.2%.
Leah Millis/ReutersUAE doubles down on crypto despite $5B token crash and regulatory heat
Last week, a token backed by Abu Dhabi’s Shorooq Partners plunged 90% in just a few hours, and regulators in the city fined crypto platform Hayvn $12.5 million and banned its CEO.
Indian Prime Minister Narendra Modi to visit Saudi Arabia, meet with crown prince
It will be Modi’s third visit since 2016 to the kingdom, a major supplier of energy, buyer of goods, and source of remittances from Indian workers. The talks will touch energy, food security, and a trade connectivity plan.
Saudi ‘Crazy Speed’ sculpture moved away from F1 track
The Jeddah Corniche Formula One circuit is widely recognized as the fastest in the world.
Smaller Abu Dhabi sovereign wealth fund sees growth
ADQ’s total assets are worth $251 billion, up 11% from a fund-tracker’s estimate in June, a spokesperson told Semafor.
africa
Patrick van Katwijk/File Photo/Getty ImagesHenry Nicholls/Reuters
How Trump’s trade war could bolster the Africa-China relationship
Kenyan President William Ruto heads to Beijing this week, the first African leader to be hosted by Xi Jinping since Washington unleashed its unprecedented global tariffs.
Patrick van Katwijk/File Photo/Getty ImagesWorld Bank’s investment arm targets rise in African equity investments
The head of the IFC told Semafor the aim is to enable companies to grow without the “burden” of debt repayments.
Henry Nicholls/ReutersAnalysis: How to reform Africa’s top development bank
A month ahead of AfDB elections for a new president, an analyst writes about how he would sharpen the institution’s focus.
South Africa’s new US envoy targets ‘misinformation’
Mcebisi Jonas, a former deputy finance minister, was appointed this week amid mounting tensions between Pretoria and Washington.
Former Credit Suisse CEO runs for Côte d’Ivoire presidency
The country’s main opposition party overwhelmingly endorsed the 62-year-old, who previously served as a planning and development minister.
Nigerian fintech bets on UK diaspora with remittance push
Moniepoint launched a money transfer for Nigerians in Britain this week.
media
Jaque Silva/NurPhoto
How Nexstar dodged a Trump lawsuit
There’s good reason for the TV giant, which owns DC news site The Hill, to want to stay out of the president’s line of fire.
Jaque Silva/NurPhotoBezos hunts for new Post opinion chief
The Washington Post has been without a top opinion editor for several months.
Bloomberg issues travel warning to staff
Outside legal counsel for the company told employees to bring more documents than usual to demonstrate their ties to the United States.
Mixed Signals: Zeitgeist genius Tina Brown on Meghan Markle, Vanity Fair, and whether we still need editors
Plus, why she doesn’t buy magazines anymore.
After NBC, Todd buys in to local news
He’s looking to spend as much as $2 billion on local news, without buying a major publisher.
security
Christian Klindt Soelbeck/Ritzau Scanpix/via Reuters
Flickr Creative Commons Photo/NNSA
Stringer/File Photo/Reuters
US scales back Greenland visit after criticism
US President Donald Trump’s expansionist overtures are creating a ‘permissive space’ for other world leaders bent on territorial acquisition, analysts argued.
Christian Klindt Soelbeck/Ritzau Scanpix/via ReutersDOGE reviews nuclear contractors
A review of National Nuclear Security Administration contractors has sparked concern within the agency that it could lose manpower at a critical time.
Flickr Creative Commons Photo/NNSAUK clamps down on Russian espionage, as Moscow ramps up pressure on Europe
Russia is increasingly reliant on private intelligence operatives and criminals to carry out espionage missions, UK security experts said.
Stringer/File Photo/ReutersAD