Meta’s new hires offer a peek into superintelligence plans
First Trump-Africa summit to be held next week
The World at a Glance
Updated 11:57am EDT
1
Donald Trump announced a trade deal with Vietnam, as nations scramble to secure agreements ahead of Trump’s tariff pause ending next week.
2EU leaders pledged to cut emissions by 90% by 2040 compared to 1990, partly by using carbon credits, rather than emissions reductions.
3Iran suspended cooperation with the UN’s nuclear watchdog, as analysts warned Tehran may be more determined to pursue an atomic weapon.
4Tesla’s global vehicle deliveries fell sharply in Q2 compared to last year, amid rising Chinese competition and political backlash toward CEO Elon Musk.
5The US Senate sent Republicans’ sweeping tax and spending cuts bill to the House, handing President Trump a major victory.
6Donald Trump said Israel had agreed to a 60-day ceasefire in Gaza and urged Hamas to accept the deal.
Saudi’s PIF hits $1 trillion in assets amid rising costs and strategy shift
As Vision 2030 nears its 10-year mark, projects like NEOM remain illiquid, and a third consecutive annual fall in foreign investment has meant PIF is footing more of the bill.
Saudi Press Agency/Handout via ReutersUS halts missile shipments to Ukraine
The latest decision comes as Ukraine faces regular, large Russian barrages of drones and missiles at its cities, and repeated assaults on the front line.
Sofiia Gatilova/File Photo/ReutersTech investments reach $200B in Q2 in steady recovery
The increase follows a jump in the first quarter as AI investing picks up, helping the industry recover from a two-year slowdown.
Brian Snyder/File Photo/ReutersChina catching up in AI race against Silicon Valley: report
While American AI is still seen as the gold standard, China offers near-equivalent performance at vastly lower prices.
Florence Lo/File Photo/ReutersAD
South Africa asks US for more time to negotiate trade deal
Since April, South African exports to the US have faced a 31% duty, a figure that could shoot up next week when Trump’s tariff reprieve expires.
Wikimedia Commons Photo/SkyPixels/CC BY-SA 4.0Chinese humanoid robots play soccer for the first time
Four teams of robots faced off in a first-of-its-kind, fully autonomous soccer tournament in Beijing, showcasing China’s robotics prowess against the US.
Fu Ding/Beijing Youth Daily/VCG via GettyHow John Thune got Trump’s bill out of trouble
The Senate majority leader talked to Semafor about the all-night whirlwind that led to Tuesday’s 51-50 vote.
Elizabeth Frantz/Reuterspolitics
Annabelle Gordon/Reuters 
Elizabeth Frantz/Reuters
Evelyn Hockstein/Reuters and Yuki Iwamura/Pool via Reuters
Republicans round up votes for a ‘big, beautiful’ blur
The president’s “big, beautiful bill” does not achieve some of what he ran on. That has not stopped Republicans from saying it does.
Annabelle Gordon/Reuters Republican megabill faces tallest hurdle yet
Votes on the House version of the bill are expected as soon as this afternoon.
Elizabeth Frantz/ReutersRepublicans test a new red line: Denaturalization
White House press secretary Karoline Leavitt was asked about the possibility of revoking Zohran Mamdani’s citizenship status and didn’t say no.
Evelyn Hockstein/Reuters and Yuki Iwamura/Pool via ReutersMamdani clinches Democratic nomination for NYC mayor
In the latest vote count, the 33-year-old democratic socialist won more Democratic primary votes than any candidate in thirty years.
How John Thune got Trump’s bill out of trouble
The Senate majority leader talked to Semafor about the all-night whirlwind that led to Tuesday’s 51-50 vote.
Senate passes Trump’s tax and spending cuts bill
The mammoth measure now heads to the House, days ahead of the president’s self-imposed July 4 deadline.
DC becomes Republicans’ favorite target — again
A House-passed bill barring noncitizens from voting in local elections in the District might just pass the Senate.
Trump threatens Musk’s subsidies as public feud reignites
The tech billionaire again floated the idea of launching a new political party if Donald Trump’s signature tax and spending bill passes.
Democrats press for more notice on State layoffs
A new bill led by Sen. Jeanne Shaheen would require foreign affairs agencies to give Congress and employees a substantial heads-up about impending layoffs.
The ‘abundance’ movement’s next front: Transportation
More Democrats have been joining Republicans in seeking to roll back regulations to spark growth.
Solving the Youth Wellbeing Challenge
Can we reconnect a generation?
business
Athit Perawongmetha/File Photo/Reuters
Trump announces trade deal with Vietnam as tariff pause deadline looms
Hanoi agreed to pay export duties ranging from 20-40% on goods to the US, while Washington will pay nothing to import to Vietnam, Trump said.
Athit Perawongmetha/File Photo/ReutersGlobal Tesla sales fall sharply in second quarter, continuing months of decline
Growing competition in the electric vehicle sector and CEO Elon Musk’s political forays have eroded the company’s market dominance.
Consumer perception of Tesla plummets among both Democrats and Republicans: survey
New data from EV Intelligence shows Tesla’s popularity tanking with Republicans, who are 11 percentage points less likely to buy one than they were in April.
Call-center software maker Verint seeks buyers in AI dealmaking test
Verint’s stock is down about 20% year-to-date, despite efforts to position itself to the market as an AI-forward company.
Fed’s Powell says tariff hit to consumers likely coming this summer
The central banker’s remarks reflect a consensus among many economists that Donald Trump’s tariffs will raise prices.
technology
Carlos Barria/File Photo/ReutersFu Ding/Beijing Youth Daily/VCG via Getty
Meta’s new hires offer a peek into superintelligence plans
The résumés of new hires suggest Meta is working on models with reasoning capabilities to more directly take on OpenAI’s suite of products.
Carlos Barria/File Photo/ReutersChinese humanoid robots play soccer for the first time
Four teams of robots faced off in a first-of-its-kind, fully autonomous soccer tournament in Beijing, showcasing China’s robotics prowess against the US.
Fu Ding/Beijing Youth Daily/VCG via GettyTech investments reach $200B in Q2 in steady recovery
The increase follows a jump in the first quarter as AI investing picks up, helping the industry recover from a two-year slowdown.
US Senate kills ban on state AI regulation
The measure was a top priority for tech firms who argued a patchwork of local laws hinders their ability to innovate and compete with China.
Apple looks to AI firms to power Siri: Report
The iPhone maker has asked to train versions of Claude and ChatGPT that could run on Apple infrastructure for testing.
Tech companies are missing revenue as 97% of consumers use AI for free: report
A report from Menlo Ventures assumes that if the 1.8 billion AI users paid a $20 average monthly subscription, the market should be $432 billion — not today’s mere $12 billion.
net zero
Yves Herman/Reuters
Florence Lo/Reuters
Mike Blake/Reuters
EU lays out roadmap to cut 90% of emissions by 2040
The European Commission’s proposal would allow member nations to buy carbon credits from developing countries to help reach the target.
Yves Herman/ReutersWorld must invest in drought resilience: OECD
Water shortages cause a third of all deaths from natural disasters, as droughts can cripple food production and cause starvation.
Florence Lo/ReutersUS rooftop solar companies are bracing for devastation
If Congress proceeds with a planned tax credit cut, a wave of bankruptcies is coming for US solar installers this year.
Mike Blake/ReutersgulfSaudi Press Agency/Handout via Reuters
Saudi’s PIF hits $1 trillion in assets amid rising costs and strategy shift
As Vision 2030 nears its 10-year mark, projects like NEOM remain illiquid, and a third consecutive annual fall in foreign investment has meant PIF is footing more of the bill.
Saudi Press Agency/Handout via ReutersSaudi soccer club Al Hilal shocks Man City
The victory propelled the team to the quarterfinals of the Club World Cup tournament, which has showcased the growing role of non-Western teams.
How Saudi Arabia can follow Israel’s AI blueprint
The kingdom won’t become an AI superpower with capital alone. It needs culture, talent, and co-innovation with Israel.
Fragile Iran-Gulf balance appears to hold after strikes
Iran’s attack on a US military base in Qatar last week sparked condemnation from regional leaders, but ties between Tehran and the Gulf appeared stable.
Abu Dhabi’s ADQ eyes stake in seed firm
The UAE is looking to reduce its reliance on food imports and address future threats from climate change.
africa
Ken Cedeno/Reuters
Simon Maina/AFP via Getty Images
First Trump-Africa summit to be held next week
Five West African heads of state have been invited to the White House with economic and security issues likely to be a focus, Africa Intelligence reported.
Ken Cedeno/ReutersAfrican air passengers taxed disproportionately: Report
The average amount of taxes and fees for international departures from Africa is twice the average for both Europe and the Middle East, the report said.
Simon Maina/AFP via Getty ImagesAfreximbank’s rating downgraded again
The decision by ratings agency Moody’s follows a downgrade by Fitch last month, pushing the development bank closer to junk status.
Standard Bank CEO raises concerns on African credit ratings, geopolitical headwinds
Sim Tshabalala pushes back at credit ratings by Fitch, Moody’s, S&P.
To beat China in Africa, US should deploy American businesses
Smart tax breaks could help US companies win hearts, minds, and markets across Africa.
The contradictions of Trump’s ‘commercial diplomacy’ in Africa
“Somebody, maybe Boulos, needs to tell him that this directly hurts US business.”
media
David ‘Dee’ Delgado/Reuters
Mamdani prepares to face damaged opponents — and the New York Post
The young Democratic socialist swept the New York Democratic mayoral primary thanks to an openness to talking to anyone — even the city’s conservative tabloid.
David ‘Dee’ Delgado/ReutersSteve Inskeep on NPR cuts, Iran, and radio’s place in the podcast era
Steve Inskeep has one of the most recognizable names and voices in the country, greeting millions of Americans every morning since the 2000s.
Tradpop summer: US political vibe shift hits music charts
Compared to 2024, the US music charts feel safer and more traditional, amid a broader cultural and political narrative shift toward conservative ideals.
State Department delegation pressures Europeans on speech in Paris, London
Samuel Samson, a young and intensely ideological senior official, got a chilly reception from Reporters Without Borders.
Steve Bannon goes to war with Fox News
“The Murdochs don’t put America’s interests first,” Bannon told Semafor Sunday.
security
Iran’s Presidential website/WANA/Reuters 
The Fordo facility before the strikes. Maxar Technologies/Handout via Reuters.
Piroschka Van De Wouw/Reuters
Iran suspends cooperation with UN nuclear watchdog
International inspectors will now be barred from accessing Iranian nuclear sites without Tehran’s approval.
Iran’s Presidential website/WANA/Reuters US, European intel clashes over damage to Iran’s nuclear program
The CIA contradicted a leaked report that suggested the US strikes had set back Iran’s ambitions by only a few months, while European intelligence suggested enriched uranium had been moved.
The Fordo facility before the strikes. Maxar Technologies/Handout via Reuters.Trump praises ‘brave’ Ukraine after Zelenskyy meeting
The US president said he believed Kyiv wants peace and that he would talk to Russia’s Vladimir Putin in a fresh bid to end the Ukraine war.
Piroschka Van De Wouw/ReutersAD