Call-center software maker Verint seeks buyers in AI dealmaking test
Standard Bank CEO raises concerns on African credit ratings, geopolitical headwinds
The World at a Glance
Updated 1:37pm EDT
1
Donald Trump voiced optimism for a Gaza ceasefire, as Israel intensified strikes in the enclave.
2The US Senate sent Republicans’ sweeping tax and spending cuts bill to the House, handing President Trump a major victory.
3US senators killed a proposed ban on states’ ability to regulate AI, in a setback for Silicon Valley.
4Zohran Mamdani became the official Democratic nominee for New York City mayor, winning more Democratic primary votes than any candidate since 1989.
5US Fed chair Jerome Powell said Donald Trump’s tariff impact will likely be felt this summer, as countries scramble to secure trade deals.
6Donald Trump and Elon Musk reignited their public feud, with Trump threatening to withdraw subsidies for Musk’s businesses, including Tesla.
Global powers scale back US tariff talks
A 90-day suspension of Trump’s ‘Liberation Day’ duties is due to expire early next week.
Kent Nishimura/File Photo/ReutersTrump ends most Syria sanctions
The move is part of a wider effort to rehabilitate the war-torn country and reduce upheaval in the Middle East.
Mahmoud Hassano/ReutersConsumer 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.
Nathan Howard/File Photo/ReutersGoogle signs nuclear fusion deal
Nuclear fusion works by squashing small atoms together, rather than splitting big atoms like traditional nuclear plants.
Stephen Lam/File Photo/ReutersAD
US aid cuts set to lead to tens of millions of deaths
According to a report in The Lancet, up to a third of those premature deaths would be of children, with sub-Saharan Africa likely to be the hardest hit.
Luis Tato/AFP via Getty.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.
Nathan Howard/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 Reuters
politicsEvelyn Hockstein/Reuters and Yuki Iwamura/Pool via Reuters 
David ‘Dee’ Delgado/Reuters
Elizabeth Frantz/Reuters
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.
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.
David ‘Dee’ Delgado/ReutersHow 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/ReutersSenate 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?
US Dept. of Justice sues LA over ‘sanctuary city’ laws
The lawsuit marked an escalation in the government’s fight with California lawmakers over immigration enforcement.
Trump administration finds Harvard in violation of Civil Rights Act
The US government’s investigation alleged that Harvard acted with indifference in regard to the treatment of Jewish and Israeli students.
businessNathan Howard/File Photo/Reuters
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.
Nathan Howard/File Photo/ReutersCall-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.
Unilever cuts off funding for Ben & Jerry’s foundation amid tensions over Gaza, audit
The conglomerate is preparing to spin off its ice cream business later this year.
German inflation falls unexpectedly, hitting ECB target
Inflation across Europe appears to be easing, but analysts warned that price volatility remains likely in the long term.
technology
Aurelien Morissard/Pool via Reuters/File Photo
Carlos Barria/File Photo/Reuters
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.
Aurelien Morissard/Pool via Reuters/File PhotoApple 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.
Carlos Barria/File Photo/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.
AI 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.
Anthropic launches new effort to study AI’s economic impact
CEO Dario Amodei has warned of massive job losses because of AI and hopes research will help the world prepare.
Google search’s next cash cow
The complex ad tech industry could be replaced by a vast marketplace of information aimed at influencing AI-powered search.
net zero
Florence Lo/Reuters
Mike Blake/Reuters
COP30 President Ambassador Andre Correa do Lago. Andressa Anholete/File Photo/Reuters
World 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/ReutersUS 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/Reutersgulf
Public domain image/Cpl Nicholas Martinez/US Marine Corps
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.
Public domain image/Cpl Nicholas Martinez/US Marine CorpsAbu 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.
Saudis are keeping more of their summer spending local
The kingdom’s tourism initiatives appear to be reducing the summer exodus.
FDI into the UAE spikes 49%, bucking global trend
Global FDI fell 11%, and most other Gulf countries, including Saudi Arabia, also saw declines.
UAE makes Arabic mandatory for kindergarteners
The emphasis on Arabic is part of a broad effort to get Emirati studies into schools, in a country where expats outnumber locals nearly nine to one.
africa
Tasos Katopodis/Getty Images for Semafor
Siphiwe Sibeko/Reuters
Standard Bank CEO raises concerns on African credit ratings, geopolitical headwinds
Sim Tshabalala pushes back at credit ratings by Fitch, Moody’s, S&P.
Tasos Katopodis/Getty Images for SemaforTo beat China in Africa, US should deploy American businesses
Smart tax breaks could help US companies win hearts, minds, and markets across Africa.
Siphiwe Sibeko/ReutersThe contradictions of Trump’s ‘commercial diplomacy’ in Africa
“Somebody, maybe Boulos, needs to tell him that this directly hurts US business.”
South Africa’s pay-as-you-go presidency: Ramaphosa’s calculated flex
What the firing of a coalition party minister tells us about the future of the Government of National Unity.
Cybercrime threat rises in Africa as mobile banking grows: Interpol
Phishing is the most frequently reported form of cybercrime in Africa, while ransomware attacks and business email compromise are also common.
Afrikaner delegation arrives in DC to discuss discrimination claims
The White House has claimed that Afrikaners were facing mass killings and land seizures in South Africa, though this has been widely refuted.
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
The Fordo facility before the strikes. Maxar Technologies/Handout via Reuters.
Piroschka Van De Wouw/Reuters
Claudia Greco/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/ReutersNATO allies formally agree 5% defense spending target
European NATO members have scrambled to boost their national military outlays under pressure from Donald Trump.
Claudia Greco/ReutersAD