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Intelligence for the New World Economy
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The World at a Glance
Updated 8:02am EST
1
US lawmakers appear poised to end a record-breaking government shutdown today, but their path forward is fraught with division.
2Some US allies said they would pause intelligence sharing with Washington following strikes on alleged drug vessels in the Caribbean.
3Fossil fuel use could peak by 2030, as the popularity of coal falls and renewables surge, the International Energy Agency said.
4Trade tensions with the US are easing, with India, Switzerland and Vietnam all close to reaching deals.
5Africa launched its first continent-wide medical regulator, as part of a wide-ranging effort to improve pharmaceutical self-sufficiency.
6Explosions in the capitals of India and Pakistan raised tensions between the neighboring rivals.
Will the economy bounce back after the shutdown?
The impact of the 41-day government shutdown (and counting) on the US economy will take a while to determine.
Evelyn Hockstein/ReutersIBM’s ‘big bet’ on new quantum processors
It says its Nighthawk processor moves the field forward by handling tougher computations with the same level of accuracy as its predecessor.
Courtesy of IBMAbu Dhabi’s XRG doubles value in a year to $151B
XRG was launched last year as the investment arm of Abu Dhabi’s state energy company, ADNOC.
Hamad I Mohammed/ReutersSouth Africa’s Vodacom to use Starlink to expand mobile coverage
The partnership would likely deepen Starlink’s presence as a major African internet service provider.
Patrick Meinhardt/AFP via Getty ImagesAD
Bill to ban lawmaker stock trading set for hearing, but authors wary
A rumored House markup of the bill turned out to just be a hearing.
Jonathan Ernst/ReutersConservative group boosts Graham amid primary challenges
Republican leaders are trying to fend off primary challenges next year.
Jonathan Ernst/ReutersHouse prepares to take up deal to reopen government
With key corners of the GOP conference signaling their support, it’s expected to pass as early as Wednesday.
Evelyn Hockstein/Reuters
Politics
Annabelle Gordon/ReutersJonathan Ernst/Reuters Jonathan Ernst/Reuters
US government shutdown set to end today
Republicans remain divided over a vote on health care subsidies that was the party’s central concession in securing the shutdown deal.
Annabelle Gordon/ReutersBill to ban lawmaker stock trading set for hearing, but authors wary
A rumored House markup of the bill turned out to just be a hearing.
Jonathan Ernst/ReutersConservative group boosts Graham amid primary challenges
Republican leaders are trying to fend off primary challenges next year.
Jonathan Ernst/ReutersHouse and Senate Republicans splinter further on health care
They got out of the government shutdown with few substantive concessions to Democrats, but they’re diverging on their opponents’ top issue.
Will the economy bounce back after the shutdown?
The impact of the 41-day government shutdown (and counting) on the US economy will take a while to determine.
FDIC offices overseeing misconduct understaffed
President Donald Trump’s nominee to chair the Federal Deposit Insurance Corporation informed senators that two key offices are staffed at 40%.
House prepares to take up deal to reopen government
With key corners of the GOP conference signaling their support, it’s expected to pass as early as Wednesday.
Why Democrats need to get over their shutdown crackup — and fast
The party has a chance as soon as next month to exploit Republican divisions on its No. 1 issue. But that will require an end to the current fury.
What Donald Trump likes about Zohran Mamdani
It suits both men to cast themselves as enemies of a corrupt system.
Americans’ trust in govt nears five-decade low, poll finds
But partisans’ views shifted substantially with the change in party control.
Republican bucks White House push to remove Syria sanctions
Rep. Brian Mast, R-Fla., is refusing to greenlight the repeal of Caesar Act sanctions on Syria.
Business
Goldman Sachs CEO David Solomon. Courtesy of FII.
Goldman Sachs scores record $110M fee on EA sale
The US bank was the sole adviser to EA when it was bought by a consortium that included Saudi Arabia’s Public Investment Fund.
Goldman Sachs CEO David Solomon. Courtesy of FII.White House moves to reduce trade tensions
India, Switzerland, and Vietnam all said that they were close to reaching new tariff deals with the US.
The economy is running on magic beans
It’s been 26 years since Alan Greenspan noted how much “lighter” — literally — the US economy was getting. The shift from hard assets to vibes, vaporware, and magic beans is only accelerating, despite a push from the Trump administration.
Will the economy bounce back after the shutdown?
The impact of the 41-day government shutdown (and counting) on the US economy will take a while to determine.
Zaslav meets with Comcast executives as bidding war ramps up
Comcast may feel there is still a path forward for a deal.
TechnologyCourtesy of IBM 
Carlos Osorio/Reuters
IBM’s ‘big bet’ on new quantum processors
It says its Nighthawk processor moves the field forward by handling tougher computations with the same level of accuracy as its predecessor.
Courtesy of IBMHow AI-powered radars are helping protect polar bears, and humans
The ‘bear-dar’ can detect the bears’ movements using AI, and when community members receive alerts that a bear is nearby, they use noisemakers to deter it.
Carlos Osorio/ReutersWhy OpenAI won’t need a government bailout
There is no “too big to fail” in the tech industry. In fact, failure is one of the key characteristics of Silicon Valley.
Why Jensen Huang was right to warn about China’s AI capabilities
Huang’s warning, even though it was walked back, coincides with a Goldman Sachs’ estimate that top tech in China will spend more than $70 billion next year on data centers and chips.
US Energy Department boosts quantum investments
The department announced a goal for private industry to build a working quantum computer by 2028 and $625 million in funding for quantum efforts.
EU mulls AI Act pullback to catch up in AI race
The most robust AI legislation globally faced blowback across industries from banking to energy over its complex framework and potential to stifle innovation.
Energy
Diego Vara/Reuters
Jorge Silva/Reuters
Mateus Bonomi/File Photo/Reuters
Fossil fuel use could peak by 2030: International Energy Agency
Coal use is at or close to a peak, while oil and gas are set to follow in the next 10 years, the World Energy Outlook stated.
Diego Vara/ReutersBrazil launches forest conservation fund at COP30
The multi-billion dollar fund is far short of its initial fundraising target, but should still be operational within the next 12 months, its top official told Semafor.
Jorge Silva/ReutersCOP30 sidesteps trade barriers
On its first day, COP30 managed to overcome a basic but notoriously contentious obstacle: settling on an agenda.
Mateus Bonomi/File Photo/ReutersGulfHamad I Mohammed/Reuters
Abu Dhabi’s XRG doubles value in a year to $151B
XRG was launched last year as the investment arm of Abu Dhabi’s state energy company, ADNOC.
Hamad I Mohammed/ReutersStandard Chartered leans on Dubai to court wealthy families
The UK firm is 18 months into a five-year, $1.5 billion spending plan that will see $750 million poured into recruiting relationship managers and wealth specialists.
Dubai property boom shows no signs of slowing
Buyers eager to secure a spot in a new luxury beachfront development must put down 1 million dirhams ($272,000) just to be considered.
Qatar earmarks $1B for Japan buyouts
Qatar’s sovereign wealth fund launched a $2.5 billion Japan-focused private equity fund with ORIX, a Japanese financial services firm.
Goldman Sachs scores record $110M fee on EA sale
The US bank was the sole adviser to EA when it was bought by a consortium that included Saudi Arabia’s Public Investment Fund.
Africa
Johannesburg workers remove informal structures occupied by people living on the streets. Alet Pretorius/Reuters. Patrick Meinhardt/AFP via Getty Images
South Africa secures $9M city redevelopment funding
Services targeted include water, electricity, and waste, which have come under growing public scrutiny due to shortages and poor refuse collection.
Johannesburg workers remove informal structures occupied by people living on the streets. Alet Pretorius/Reuters. South Africa’s Vodacom to use Starlink to expand mobile coverage
The partnership would likely deepen Starlink’s presence as a major African internet service provider.
Patrick Meinhardt/AFP via Getty ImagesGhana’s Asante receive 130 artifacts from UK, South Africa
Around 100 of the items were returned by the South African mining company AngloGold Ashanti, which had purchased them on the open market.
South Africa forecasts upbeat budget after better-than-expected revenue
Economists anticipate tax income to surpass the government’s projection, driven by strong commodity prices and a surge in mining profits.
Senegal’s bonds fall after PM resists IMF calls to restructure debt
Senegal’s finances have been under pressure since $11 billion of unreported debt left by the last administration was found last year.
Botswana pushes for majority stake in De Beers
The move pits Botswana against Angola, which is also bidding to control the diamond mining giant.
Security
NTB/Lise Aserud via Reuters
A model of The Fujian aircraft carrier at an airshow in China. Tingshu Wang/File Photo/Reuters.
Ali Hankir/Reuters
US allies cut intelligence sharing with US over Caribbean strikes
Colombia and the UK said that they would pause all or some intelligence sharing after US attacks on vessels in Caribbean killed dozens.
NTB/Lise Aserud via ReutersChina launches its largest naval aircraft carrier
Leader Xi Jinping has pushed to modernize the military to challenge US dominance in the South China Sea and assert sovereignty claims over Taiwan.
A model of The Fujian aircraft carrier at an airshow in China. Tingshu Wang/File Photo/Reuters.Israel steps up strikes on southern Lebanon
Israel and Hezbollah fought a brief but vicious ground war last year, in the wake of Hamas’ Oct. 7, 2023 attacks on Israel.
Ali Hankir/ReutersMedia
Jack Taylor/Reuters
BBC director general quits over Trump reporting
He resigned over a report suggesting the broadcaster had misleadingly edited a speech by US President Donald Trump.
Jack Taylor/ReutersAxel Springer’s CEO — and biggest star — is chasing his next deal
Mathias Döpfner is emerging as a new-school mogul: ubiquitously public, sitting on a pile of cash, and on the hunt for more deals.
Zaslav meets with Comcast executives as bidding war ramps up
Comcast may feel there is still a path forward for a deal.
Condé Nast abruptly fires 4 staffers after HR confrontation
The firings were an unsubtle message to its employee union that the publisher was taking a harder line in its dealings with employees.
Michael Wolff crowdfunds war chest to pursue Melania Trump
The first lady had threatened Wolff with a defamation case over comments he made on his podcast linking her to Jeffrey Epstein.
CEO Signal
Joey Pfeifer/Semafor
Joey Pfiefer/Semafor
Joey Pfeifer/Semafor
How Ariane Gorin sees AI writing Expedia’s third chapter
The former Microsoft executive says agents will not replace her travel site — if it can get its own technology right.
Joey Pfeifer/SemaforAgentic brains and ‘digital gardeners’: How one CEO runs his AI office
Weber Shandwick’s Jim O’Leary says agents need to be watered, fertilized, and weeded.
Joey Pfiefer/SemaforWhy Enrique Lores bet HP’s future on AI reshaping work
The PC group’s CEO sees a new era of opportunity if it sells experiences rather than just products.
Joey Pfeifer/SemaforAD