Semafor Recommends
Return to Oz, Walter Murch’s sequel to The Wizard of Oz, turns 40 this year and is known as “one of the darkest children’s films ever made.”
Four years and $70 million later, The Metropolitan Museum of Art has reopened its Michael C. Rockefeller Wing, giving works the prominence they deserve.
Known as Colombia’s most beautiful town, Barichara, is also home to one of its finest restaurants, Elvia.
To mark Oasis’ reforming, revisit Definitely Maybe and (What’s the Story) Morning Glory, described as “full of pounding, adrenalised songs.”
Beyond tennis, Wimbledon is also famed for its strawberries and cream, a Victorian tradition that endures today, with nearly two million portions served in 2024.
PIF drives office demand in Riyadh
The sovereign wealth fund is the top tenant in the Saudi capital, but new regional HQs and infrastructure bets are on the rise.
B.alotaby/Wikimedia Commons/CC BY-SA 4.0Republicans steamroll toward final vote on Trump’s tax and spending cuts bill
The party-line measure gained momentum, despite lingering questions about its Medicaid cuts, moratorium on AI regulations, and more.
Annabelle Gordon/ReutersAI usage in jobs could lead to AI ‘trade schools,’ expert says
These schools could teach students how to apply the new tech to their specific career interests, the chief AI scientist at career coaching platform BetterUp said.
Noah Berger/ReutersTech 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.
Florence Lo/Illustration/File Photo/ReutersAD
US climate withdrawal forcing a ‘rethink’: COP30 president
André Corrêa do Lago’s remarks come amid growing doubts over the November summit’s chance of success.
COP30 President Ambassador Andre Correa do Lago. Andressa Anholete/File Photo/ReutersThe wild-card fiscal hawk who may turn from ‘no’ to ‘yes’ on Trump’s megabill
Ohio Rep. Warren Davidson is one of two conservatives who initially opposed the plan — and has so far escaped heat from the White House.
Gage Skidmore/Flickr/CC BY-SA 2.0How Christian Klein’s AI bet turned SAP into Europe’s most valuable company
The German software giant’s CEO pivoted away from its lucrative traditional business to evade an existential threat.
Faruk Pinjo/World Economic Forum
politics
Jonathan Ernst/Reuters
Annabelle Gordon/Reuters
Annabelle Gordon/Reuters
How the GOP’s bill broke the Democrats
Republicans relied on the campaign politics of a “golden age” tax bill.
Jonathan Ernst/ReutersTrump’s megabill squeaks through Congress
The vote is a testament to the president’s sway over his party, and a victory for House Speaker Mike Johnson.
Annabelle Gordon/ReutersTrump’s signature tax bill passes
The president’s signature tax and spending bill passed in a 218-214 vote, after hours of debate and the quelling of a revolt by congressional Republicans.
Annabelle Gordon/ReutersDigital content moderation law figures as part of US-EU trade talks
Brussels insists it will not water down laws, but the bloc believes it can capitalize on a deregulation drive to address Trump administration concerns.
Former Ohio Sen. Sherrod Brown weighs next political move
The Democrat is still weighing where he wants his political career to take him next: to the governor’s mansion or back to the Senate.
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.
Republican megabill faces tallest hurdle yet
Votes on the House version of the bill are expected as soon as this afternoon.
Republicans 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.
Mamdani 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.
business
Iakovos Hatzistavrou/Pool via Reuters
US trade wars breed jingoism worldwide
Trump’s trade deals are so far light and fraught, as leaders around the world, managing their own voters, are pushing back.
Iakovos Hatzistavrou/Pool via ReutersThe death of American equities? Not so fast.
There is little evidence in the stock market that American exceptionalism is dead.
The US dollar is on track for its worst year in modern history
The greenback is down more than 7% this year, and Morgan Stanley predicts it could fall another 10%.
US hiring remains steady, beating expectations
Employers added 147,000 jobs in June, while unemployment fell to 4.1%, the Labor Department reported, suggesting a resilient economy despite uncertainty over trade and fiscal policy.
Analysis projects $82.3B tariff hit to US firms
The JPMorganChase Institute found that midsize US firms can expect to pay $2,080 more per employee at current tariff rates, amounting to a 3% payroll hike.
technology
Xavier Lorenzo/Getty Images
Courtesy of Blackdot
How AI can spur a rebirth of media
The advent of AI and the related media shakeup brings a huge opportunity for entrepreneurship in local and niche publishing.
Xavier Lorenzo/Getty ImagesBody art shops begin to offer tattoos powered by AI
An AI-powered device draws tattoos using a needle attached to a robot arm and computer vision that measures the recipient’s skin.
Courtesy of BlackdotOpenAI warns against tokenized stock offered by Robinhood
The trading platform announced it would give some users €5 “stock tokens” that track the private-market values of OpenAI and SpaceX.
New AI model aims to mimic human decision-making
Dubbed Centaur, the model was trained on 160 psychology studies involving 60,000 participants making more than 10 million choices while completing different tasks, like memory games, gambling, and problem solving.
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.
Chinese 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.
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/Reutersgulf
Bahrain News Agency
Bahrain ambassador to return to Lebanon as Gulf ties warm
With Hezbollah weakened by Israeli attacks, recently elected President Joseph Aoun has looked to restore Lebanon’s standing in the region.
Bahrain News AgencySaudi Arabia in no rush to normalize Israel ties
The reputational cost of normalizing ties with Israel may be too high for Crown Prince Mohammed bin Salman.
PIF drives office demand in Riyadh
The sovereign wealth fund is the top tenant in the Saudi capital, but new regional HQs and infrastructure bets are on the rise.
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 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.
africa
Amine Chikhi/APP/NurPhoto via Getty Images
Minasse Wondimu Hailu/Anadolu Agency via Getty Images
African startups see surge in funding
They raised $1.4 billion in the first six months of 2025, a 78% increase over the same period last year.
Amine Chikhi/APP/NurPhoto via Getty ImagesEthiopia completes controversial Nile mega-dam
The $5 billion dam, Africa’s biggest hydroelectric project, has generated tensions with downstream neighbors Egypt and Sudan.
Minasse Wondimu Hailu/Anadolu Agency via Getty ImagesNigerian opposition leaders form coalition against Tinubu
Atiku Abubakar, Nigeria’s former vice president, and Peter Obi, a former state governor, will together lead the African Democratic Congress.
AfDB in value addition talks with Asian batteries giants
The development bank hopes to build partnerships that will increase the amount of critical minerals processed in African countries before being exported.
Nigerian AI startup targets gap in voice automation for African accents
Intron’s speech transcription platforms are serving a growing demand for automation across the continent.
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.
media
The secret to Zohran Mamdani’s winning media strategy is simpler than you think
Zohran Mamdani broke out through vertical video on social media in ways that few political candidates have been able to pull off.
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.
Steve 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.
security
Thomas Peter/File Photo/Reuters
Iran’s Presidential website/WANA/Reuters 
The Fordo facility before the strikes. Maxar Technologies/Handout via Reuters.
Trump says no progress on Ukraine peace after Putin call
Following Donald Trump’s call with Vladimir Putin on Thursday, Kyiv said it planned to pressure Washington to reinstate weapons deliveries.
Thomas Peter/File Photo/ReutersIran 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.AD