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Semafor Business
🟡 Semafor Business: CEOs’ new favorite word
In this edition, the Pentagon headhunts bankers, Larry Fink predicts bankruptcies in AI, and CEOs all think they have an AI “moat.”
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Oscars mask a Hollywood in crisis
As Hollywood celebrates the Oscars on Sunday, the glitz masks a deeper crisis for the entertainment industry: rising production costs.
Daniel Cole/Reuters
Fears of global economic crisis grow after US strikes Iran oil terminal
After the US struck Iran’s main oil terminal, Tehran said it would retaliate against US-linked energy facilities in the region, deepening concerns about sustained disruptions to global supply.
2026 Planet Labs PBC/Handout via Reuters
AT&T CEO pitches Trump amid $23 billion antitrust review
The private meeting was to discuss AT&T’s mammoth investment in the US, as the company looks to minimize scrutiny of its EchoStar spectrum deal.
AT&T CEO John Stankey. Brian Snyder/Reuters
How Kyle Clark got BETA’s air taxis ready for takeoff
The electric aircraft company’s CEO has a ‘burn-the-boats’ approach to decision-making.
Courtesy of BETA/Joey Pfeifer/Semafor
Upwork’s CEO on the AI agents that try to hire human workers
Hayden Brown sees the pairing of technology and human “orchestrators” redefining workforces.
Courtesy of Upwork/Joey Pfeifer/Semafor
Why Vlad Tenev thinks you’ll want Robinhood’s ‘James Bond’ credit card
A platinum-plated physical product advances the broker’s bid to become a financial “super app.”
Courtesy of Robinhood/Joey Pfeifer/Semafor
An AI jobs crisis we didn’t see coming
AI “is going to create many jobs and we’re not prepared as a society to fulfill those jobs,” Larry Fink told Semafor.
BlackRock CEO Fink predicts AI ‘bankruptcies’
When it comes to AI fears, Fink said he’s more worried about the US “losing to China” than capex overspending.
CEOs all think they have an AI ‘moat.’ Just ask them.
At least 118 companies touted the moats they have, or are building, against AI this quarter.
Porsche plots cuts, profitability drive amid steep downturn
Porsche had a dour 2025, reporting a staggering 93% decline in operating profit.
US inflation report ‘obsolete’ amid war
US inflation steadied in February, though economists’ attention has swiftly turned to the potential for price hikes stemming from the Middle East conflict.
IEA’s plan to release oil reserves fails to calm markets
The International Energy Agency agreed on Wednesday to release 400 million barrels of oil to cushion a supply disruption triggered by the war in Iran.
Pentagon headhunting Goldman, JPMorgan bankers for ‘Economic Defense Unit’
The job promises “access to top-level government officials and privileged information flow — whatever you need, you can get.”
MidEast conflict could hurt Chinese business
Analysts say China may benefit geopolitically from a prolonged Iran war, but it could start to feel the pain economically.
India eases rules on China investment
India is looking to attract more capital amid fresh global economic uncertainty.
Oil slides further but traders rattled by volatility
Oil continued its slide Tuesday, but the wild price swings triggered by Washington’s Iran war messaging have rattled even the most experienced traders.
Iran war gives CEOs another excuse to tighten their belts: recession fears
Layoffs are coming — not because the economic conditions demand it, but because the economic fears allow it.
Bill Ackman’s Pershing Square files for IPO
This is Ackman’s second attempt at listing Pershing Square, after withdrawing an oversized plan in 2024 that found little market appetite.