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Intelligence for the New World Economy
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View / White House feud with Anthropic reveals broader AI safety concerns
View / The US is paying the price for complacency with China. Time is running out.
Semafor Recommends
The Fondation Cartier in Paris is celebrating its new location opposite the Louvre with an exhibition on its history.
Lucy Ash’s The Baton and the Cross: Russia’s Church, from Pagans to Putin explores the thousand-year history of the Russian Orthodox Church.
The Rome Film Festival, running from October 15-26, will honor US director Richard Linklater and Iranian dissident Jafar Panahi among others.
The Dutch Women by Dorothee Elmiger is “a magnificent literary expedition” tracing the 2014 disappearance of two women in the Panamanian jungle.
The prose in Good and Evil and Other Stories by Samanta Schweblin, translated by Megan McDowell, “shimmers with a menacing lyricism.”
Syria will be ‘gone’ if economy rebuilding falters, top officials say
Speaking at Semafor’s World Economy Summit, top Syrian economic officials said they need to build new institutions, and not rebuild those that led to the country’s collapse.
Paul Morigi/Getty Images for SemaforFintech firm lauds Kenya’s approach to crypto regulation
Chris Maurice, CEO of crypto startup YellowCard, said Kenya had learned from the mistakes of the US and Europe.
Chris Maurice, CEO of Yellow Card. Paul Morigi/Getty Images for Semafor. US banks in talks to lend $20 billion to Argentina
JPMorgan, Bank of America, Goldman Sachs, and Citigroup are among banks working with US Treasury officials to bolster Argentina’s collapsing currency and ease economic turmoil, people familiar with the matter said.
Reuters/Agustin MarcarianOpenAI reverses policy to allow erotica on ChatGPT
CEO Sam Altman’s remarks were not planned, and caught the company’s PR team by surprise, Semafor is told.
Shelby Tauber/ReutersAD
House conservative says clawing back Republican spending bills ‘erodes trust’
The Virginia Republican spoke to Eleanor Mueller at Semafor’s World Economy Summit on Thursday.
Paul Morigi/Getty Images for SemaforGreece’s data crisis holds lessons for US, finance minister says
Greece’s experience in the 2000s shows the vital importance of independent, trustworthy statistics, Kyriakos Pierrakakis said at Semafor’s World Economy Summit.
Kyriakos Pierrakakis. Kris Tripplaar/SemaforBiden envoy praises Trump’s Gaza deal, backs AI chip sales to the Gulf
Amos Hochstein told Semafor he would rather the US sell chips to the UAE than Spain, which has Chinese tech in their intel systems.
Amos Hochstein. Paul Morigi/Getty Images for Semafor
Politics
Lucy Nicholson/Reuters.
Kylie Cooper/Reuters
Nathan Howard/Reuters
Whooping cough surges in Florida as vaccine rates plummet
Kindergarten vaccination rates fell in 2024 to the lowest in over a decade.
Lucy Nicholson/Reuters.As Zelenskyy visits DC, Trump eyes a diplomatic win
The leaders will discuss the US potentially giving Ukraine Tomahawk missiles.
Kylie Cooper/ReutersUncommon bonds: Repealing old military authorizations
This year’s House and Senate defense bills both include a repeal of the 1991 and 2002 authorizations.
Nathan Howard/ReutersMiran says impact of AI on labor ‘very difficult’ to predict
The Federal Reserve governor spoke with Semafor’s Liz Hoffman at the World Economy Summit in Washington on Thursday.
House conservative says clawing back Republican spending bills ‘erodes trust’
The Virginia Republican spoke to Eleanor Mueller at Semafor’s World Economy Summit on Thursday.
‘This is asinine’: Shutdown bitterness grips a stalled Congress
Neither side is moving or showing signs of engagement in negotiations as the 35-day record looms.
Republicans want answers on $20B Trump ‘facility’ for Argentina’s debt
They’re unlikely to block the Treasury Department move, but one senator said he expects more details than the administration has provided so far.
US journalists protest over Pentagon press crackdown
Journalists from every major news organization gave their press passes back in protest over new reporting rules.
US judge halts layoffs amid government shutdown
The Trump administration had outlined plans to lay off 4,100 workers during an ongoing government shutdown, now in its sixteenth day.
US forces could take covert action inside Venezuela
President Donald Trump seemed to confirm a New York Times report that his administration had authorized covert action by the CIA inside the country.
Warren probes Treasury over ‘baffling’ Argentina aid
The Massachusetts Democrat is requesting more information on the Treasury Department’s effort to shore up Argentina’s economy.
Business
Andreas Gora/picture alliance via Getty
777 co-founder Josh Wander faces fraud charges
Wander is being accused of bilking investors out of $500 million by double-pledging collateral and photoshopping financial statements.
Andreas Gora/picture alliance via GettyHow Sam’s Club became the ‘Netflix of shopping’
CEO Chris Nicholas aims to double sales at the Walmart unit with a focus on driving “disruptive value.”
Miran says impact of AI on labor ‘very difficult’ to predict
The Federal Reserve governor spoke with Semafor’s Liz Hoffman at the World Economy Summit in Washington on Thursday.
US banks in talks to lend $20 billion to Argentina
JPMorgan, Bank of America, Goldman Sachs, and Citigroup are among banks working with US Treasury officials to bolster Argentina’s collapsing currency and ease economic turmoil, people familiar with the matter said.
Greek finance minister: Europe’s single market matters more than AI race
Europe should focus on bolstering its competitiveness in areas where it already has an advantage, Kyriakos Pierrakakis said at Semafor’s World Economy Summit.
Technology
Evelyn Hockstein/Reuters
Paul Morigi/Getty Images for Semafor
White House feud with Anthropic reveals broader AI safety concerns
The public spat between White House AI Czar David Sacks and Anthropic shows a real, philosophical divide about the nature of AI technology.
Evelyn Hockstein/ReutersUber predicts more human drivers with autonomous cars
The number of humans employed by Uber will actually increase as self-driving vehicles become more commonplace, a company executive predicted at Semafor’s World Economy Summit.
Paul Morigi/Getty Images for SemaforOn AI, corporate culture will need to catch up to innovation
A key theme at Semafor’s World Economy Summit this week in Washington, DC, was how quickly AI has brought dreams to fruition.
OpenAI reverses policy to allow erotica on ChatGPT
CEO Sam Altman’s remarks were not planned, and caught the company’s PR team by surprise, Semafor is told.
Miran says impact of AI on labor ‘very difficult’ to predict
The Federal Reserve governor spoke with Semafor’s Liz Hoffman at the World Economy Summit in Washington on Thursday.
Waymo robotaxis to launch in Europe
The first autonomous vehicles will start to appear on London streets in the next few weeks, as the company maps the city and trains its software.
Energy
Stringer/Reuters
Amos Hochstein. Paul Morigi/Getty Images for Semafor
Steve Marcus/Reuters
Why speed is the best energy solution
When it comes to the future of energy, the best solution is the one that can get built most quickly, experts argued at Semafor’s World Economy Summit.
Stringer/ReutersAI energy demand could soon ‘become a crisis,’ former Biden energy envoy warns
The US doesn’t have the capacity to meet the industry’s growing demands, Amos Hochstein said at Semafor’s World Economy Summit.
Amos Hochstein. Paul Morigi/Getty Images for SemaforThe US is paying the price for complacency with China. Time is running out.
Washington did not heed the lessons of an episode a generation ago. Now it’s paying the price.
Steve Marcus/ReutersGulf
A view of construction progress at the Stargate UAE data center in Abu Dhabi. Courtesy Emirates News Agency-WAM.
Massive Stargate UAE data center takes shape
The data center project in Abu Dhabi will anchor a mammoth UAE-US AI Campus.
A view of construction progress at the Stargate UAE data center in Abu Dhabi. Courtesy Emirates News Agency-WAM. Saudi Arabia plans giant Mecca development
The King Salman Gate in Mecca will include prayer areas, residential units, hotels, and shops adjacent to the Grand Mosque.
Sovereign funds join $11 billion Aramco gas deal
Abu Dhabi, Singaporean, and South Korean funds join the BlackRock-led consortium investing in Aramco’s new gas infrastructure.
Arabs cheer Trump’s peace deal but remain wary of Israeli spoilers
Trump’s personal diplomacy has paused the horrors in Gaza and returned hostages. Durable peace will require engagement.
Saudi consumer spending fuels coffee shop IPO rush
Saudi coffee shop chains and a health care products distributor plan to list in the next 12-18 months.
AfricaChris Maurice, CEO of Yellow Card. Paul Morigi/Getty Images for Semafor. 
Cristiano Barbosa/Sportsfile via Getty Images
Fintech firm lauds Kenya’s approach to crypto regulation
Chris Maurice, CEO of crypto startup YellowCard, said Kenya had learned from the mistakes of the US and Europe.
Chris Maurice, CEO of Yellow Card. Paul Morigi/Getty Images for Semafor. Cabo Verde plugs its diaspora to score historic World Cup entry
Roberto Lopes, a defender for Irish football team Shamrock Rovers who has a Cabo Verdean father, helped the small island nation reach this milestone.
Cristiano Barbosa/Sportsfile via Getty ImagesKenya to invest $31B in infrastructure over next decade
Funds from the budget, state asset sales, and private sector resources will be pooled to build new roads, rail, and power projects.
Spain pushes Africa ties as other Western nations pull back
Madrid has widened a seasonal migration program and is aiming to open a raft of new embassies across the continent.
BioNTech secures $110 million for Rwanda vaccine plant
The World Health Organization estimates that Africa produces only 1% of the vaccines it uses, making it vulnerable to supply shocks.
Washington business lobby group pushes for US-Africa minerals finance
The US Chamber of Commerce said American government bodies must be allowed to take more equity stakes in African mining projects.
Security
Al Drago/Reuters
Ukrainian Presidential Press Service/Handout via Reuters
Mette Frederiksen. Ritzau Scanpix/Ida Marie Odgaard/via Reuters
Trump considers sending long-range missiles to Ukraine
The move marks a significant warming of ties since Donald Trump and Ukrainian President Volodymyr Zelenskyy’s Oval Office spat in February.
Al Drago/ReutersUkraine, US preparing deal to share drone tech for arms
Ukraine has received US weapons for years, but since 2022 it has, by necessity, become a world leader in cheap battlefield drones.
Ukrainian Presidential Press Service/Handout via ReutersRussia and NATO in a state of ‘hybrid war,’ Danish PM says
Mette Frederiksen said that the military alliance must step up its response to Russian aggression after repeated incursions into its airspace.
Mette Frederiksen. Ritzau Scanpix/Ida Marie Odgaard/via ReutersMedia
Governor JB Pritzker on Chicago, ICE, and the information war with Trump’s White House
Chicago is either a war zone quickly spiraling out of control, or a peaceful city under siege by an overreaching federal government. It all depends on who you ask — and which channel they watch.
US journalists protest over Pentagon press crackdown
Journalists from every major news organization gave their press passes back in protest over new reporting rules.
Alison Roman on cookbooks, food influencers, and the surprising way AI is changing her recipes
Alison Roman was one of digital media’s first food stars. With her latest cookbook, she’s trying to move away from life on the Internet.
Blackbird Spyplane’s Jonah Weiner on Substack, resisting selling out, and Obama’s pants legacy
Blackbird Spyplane, a style and culture newsletter, launched in 2020 as one of the early adopters and success stories on Substack.
Can MS survive without NBC? Inside CEO Mark Lazarus’ efforts to save cable’s great brands
MSNBC and 10 other television channels are splitting from NBC over the next several weeks to form a new digital-focused, publicly traded company called Versant.
CEO Signal
Joey Pfeifer/Semafor
Joey Pfeifer/Semafor
Joey Pfeifer/Semafor
How Sam’s Club became the ‘Netflix of shopping’
CEO Chris Nicholas aims to double sales at the Walmart unit with a focus on driving “disruptive value.”
Joey Pfeifer/SemaforHow Jamie Iannone made eBay an investor collectible
The e-commerce veteran is using AI and customer insights to reduce the “friction” that deters many buyers and sellers.
Joey Pfeifer/SemaforEcolab’s Christophe Beck warns CEOs: ‘There is no growth without water’
The water treatment company’s CEO says AI data center demand is making smart management of scarce resources an imperative.
Joey Pfeifer/SemaforAD