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Semafor business

A financial news site uses AI to copy competitors — wholesale

Investing.com has been increasingly relying on AI to create its stories.

On The Record with Bruce Van Saun

Our signature interview series brings you conversations with the people running, shaping, and changing our economy. Today, the Citizens Bank CEO talks about the 2023 “idiosyncratic bank failures” (not crisis, please).

America’s big banks are strutting. Its small ones are limping.

Wall Street CEOs schooled senators yesterday with a confidence that was shocking for anyone who followed the industry’s post-2008 floggings.

European fashion industry faces scrutiny over Uyghur labor

Global trade in Xinjiang is growing despite widespread outcry over suspicions of forced Uyghur labor.

Zara

What bitcoin’s price surge suggests

Cryptocurrency is getting a second chance as investors eye alternative assets amid geopolitical uncertainty.

Bitcoin

Principals Live with Mathias Döpfner

Semafor’s Steve Clemons talks to Axel Springer Chairman and CEO Mathias Döpfner about the state of global democracy, the role of trade today in undermining democracies, and how autocratic regimes need to be challenged.

Companies using AI want human workers to ‘disappear’

David Hsu, CEO of software platform startup Retool, says his customers are boosting productivity with the help of ChatGPT and other tools.

Why no one wants to host the Olympics

Climate change, corruption scandals, and high costs have made fewer nations enthused about hosting the Olympics.

Feds probe sports investor 777 over money flows

Prosecutors in New York and Miami are jointly probing the firm’s sprawling web of investments, people familiar with the matter said.

Nobody wants U.S. Treasury bonds

The most tradable security in the world and a sign of the U.S.’s global economic might is badly out of favor, with serious consequences for taxpayers and financial markets.

Elon Musk visits Israel amid accusations of antisemitism

The billionaire has in recent weeks come under fire for apparently endorsing antisemitic tropes and allowing hateful content to flourish on his social media platform, X.

The silent partner behind 777’s buying spree

Loans from a U.S. insurance outfit have been funding 777’s investments in sports, aircraft, and complex financial products. Some of the money was used to buy a Miami condo for the insurer’s CEO.

CZ steps down as Binance CEO in $4 billion settlement with DOJ

The settlement with the world’s largest cryptocurrency exchange amounts to one of the biggest corporate fines in U.S. history.

Why a Hollywood mogul invested in a Gulf gas company

Aryeh Bourkoff’s LionTree bought shares in the IPO of Abu Dhabi’s national gas company after his largest investor, a powerful sheikh who controls the emirate’s vast wealth, asked him to.

Stocks jump in Argentina after radical libertarian Milei’s election win

Investors have responded positively to Javier Milei’s victory despite ongoing concerns over his controversial plans for reform.

Twitter bets big on ... CEO’s son

Linda Yaccarino is trusting her son with the social media platform’s last-ditch effort to revive political ad sales.

China’s Xi and Japan’s Kishida meet after a tense year

The meeting marks the first face-to-face meeting in a year between the leaders of Asia’s two biggest economies.

Mystery investor 777 Partners bought sports teams with insurance customers’ cash

New details show that the little-known firm now bidding for Everton FC used $1.5 billion from a captive insurer in deals for sports clubs, a payday lender, a South American streamer, and other risky deals.