How California pensioners pulled one over on Yale’s investors
Saudi’s new ‘Davos in the Desert’ boss leaves after six months
The World at a Glance
Updated 11:04am EDT
1
US inflation rose more than expected in June, suggesting that tariffs are starting to push prices up.
2Israel said it struck tanks in southern Syria following clashes between rival groups and the new Damascus regime.
3China’s economy grew faster than expected in the second quarter, but analysts remain concerned about its long-term prospects.
4Donald Trump threatened secondary tariffs on countries trading with Moscow if the Kremlin did not agree to peace in Ukraine.
5Washington authorized Nvidia to resume sales of AI chips to China, loosening strict US curbs on Beijing.
6Meta plans to build several city-sized data centers in the US to catch up with its Big Tech rivals.
Employment woes are coming for startup talent
The war for AI talent has reached new heights, but comes at a cost for rank-and-file employees.
Gonzalo Fuentes/ReutersTrump makes final blitz on rescissions
Senators are bracing for the president to erupt if the federal cuts fail.
Kevin Mohatt/Reuters Saudi expands stock market access in bid to boost liquidity
Gulf residents will now be able to trade directly in the Tadawul, and expats will retain access to their investment accounts after they leave the country.
Bernd von Jutrczenka/picture alliance via GettyTensions build as Republicans float second party-line bill
House leaders are already talking about another herculean legislative effort — but some of their Senate counterparts are skeptical.
Annabelle Gordon/ReutersAD
Dem media group sounds alarm: ‘We need help’
Courier Newsroom founder Tara McGowan pleaded with subscribers to help push back against Republicans’ “big, beautiful bill.”
Courier on TikTokThe startups helping African countries capture the value of their mineral exports
They are using a mix of software and grit to boost the continent’s mineral processing ambitions.
Carlos Barria/File Photo/ReutersTrump threatens fresh tariffs on Canada
US President Donald Trump also suggested a universal rate of up to 20% in an NBC interview.
Kevin Lamarque/Reuters
politics
Annabelle Gordon/Reuters
Nathan Howard/Reuters
Jonathan Ernst/Reuters
MAGA starts to move on from Epstein drama as Trump digs in
The president spoke personally to Dan Bongino and Charlie Kirk about what one Republican senator dismissed as “National Enquirer stuff.”
Annabelle Gordon/ReutersTrump touts investments at tech summit
The president is touting investments by US companies during a trip to Pittsburgh.
Nathan Howard/ReutersHouse Democrats whip against each other on crypto bill
The legislation is pitting one committee’s top member against another.
Jonathan Ernst/Reuters Progressive groups mount late push against judicial nominee
They’re urging the Senate Judiciary Committee to reject Emil Bove’s nomination to the US Court of Appeals for the 3rd Circuit.
Debatable: Eliminating food dyes
HHS Secretary Robert F. Kennedy Jr. is pressuring food companies to do away with synthetic dyes, winning him some Democratic fans.
House gets ready to get rolled on crypto
It’s a a watershed moment for the crypto industry and its allies in Washington.
Trump makes final blitz on rescissions
Senators are bracing for the president to erupt if the federal cuts fail.
Tensions build as Republicans float second party-line bill
House leaders are already talking about another herculean legislative effort — but some of their Senate counterparts are skeptical.
Uncertainty reigns at FBI as Bongino weighs resignation over Epstein flap
The bureau’s deputy director “will come back if” the attorney general is “held accountable,” one source told Semafor.
Why MAGA can’t move on from the ‘Epstein files’
Republican voters are used to getting what they want from Donald Trump — why stop now?
‘One more question…’: Brandon Gill puts liberals on the language hot seat
The freshman representative spoke to Semafor about putting Congressional witnesses on the hot seat.
business
Andrew Kelly/File Photo/Reuters
Why Kraft Heinz is considering a split
The breakup is proof of what investors had known for years: The merger was a dud.
Andrew Kelly/File Photo/ReutersHow California pensioners pulled one over on Yale’s investors
CalPERS’ $550 million haul in Yale’s sale last month of private fund stakes included a golden nugget: A crypto stake that was quickly marked up at huge gains.
Employment woes are coming for startup talent
The war for AI talent has reached new heights, but comes at a cost for rank-and-file employees.
Economists see lower risk of US recession
Economists polled by The Wall Street Journal said the US’s economic forecast looks better now than it did three months ago.
Mamdani will try to charm New York’s elite
New York’s business elite don’t know much about Mamdani, and what they do know, they don’t like.
technology
Gonzalo Fuentes/Reuters/File Photo
Leah Millis/File Photo/Reuters
Nvidia CEO downplays China risks ahead of Beijing trip
China is one of Nvidia’s biggest markets, accounting for 13% of its total sales for the fiscal year ending in January.
Gonzalo Fuentes/Reuters/File PhotoHow Trump’s megabill could slow AI progress in US
The elimination of federal renewable energy tax credits in the “big, beautiful” law has implications for the global AI race, and the US may be on track to lose to China.
Leah Millis/File Photo/ReutersX lost its CEO, but it hasn’t lost Musk
The godfather of X will see the platform succeed with the help of AI, despite CEO Linda Yaccarino’s resignation.
Wimbledon’s AI line-calling system causing problems for players
Some players have criticized certain calls made by the software, and in one match, the system shut down entirely.
The new hot job in AI: forward-deployed engineers
The role popularized by Palantir will help turn AI breakthroughs into real-world automation.
After founders flee hot French AI startup, new CEO wants to steady the ship — and scale like Palantir
Former Palantir director Gautier Cloix, who replaced Charles Kantor as CEO of H Company last month, speaks publicly for the first time.
net zero
Henry Romero/Reuters
Kārlis Dambrāns/Flickr/CreativeCommons/CC BY 2.0
Jim Urquhart/Reuters
Global oil demand slows
This year’s global oil demand growth is on track to be the slowest annual increase since the 2008 financial crisis, excluding the pandemic years.
Henry Romero/ReutersMastercard reports lower emissions alongside 2024 revenue growth
The figures encapsulate a growing trend among major companies successfully “decoupling” emissions from revenues.
Kārlis Dambrāns/Flickr/CreativeCommons/CC BY 2.0Trump to attend AI and energy summit in Pittsburgh
Top fossil fuel and Wall Street CEOs will join US President Donald Trump for a summit on AI and energy on Tuesday.
Jim Urquhart/Reutersgulf
The opening session at FII in Riyadh in 2024. Courtesy of FII.
Saudi’s new ‘Davos in the Desert’ boss leaves after six months
Richard Attias, who helped establish FII a decade ago, is stepping back in after Penny Richards quit
The opening session at FII in Riyadh in 2024. Courtesy of FII.Oldest natural pearl to go on show at new Abu Dhabi museum
The pearl, dating back 8,000 years, will be part of exhibits showcasing the Gulf’s history when the museum opens in December.
Qatar Airways completes Starlink rollout on Boeing fleet
The airline said in a statement that internet provided by Elon Musk’s satellite company may be faster than home internet.
Saudi Arabia plans to train 1 million citizens in AI
The efforts to prepare the local workforce are part of the kingdom’s Vision 2030 strategy to localize technology and reduce reliance on imported tools and expertise.
UAE’s Khazna and Italy’s Eni plan AI campus in Milan
The project is part of a wider agreement between the UAE and Italy to expand digital infrastructure.
africa
GodwinPaya/Wikimedia Commons
President Biya in 2024. Wu Hao/Pool/Getty Images.
Why Africa’s emerging markets need their own stablecoins
They offer an alternative to the outdated compliance regulations of major banks that lock African economies out of global finance.
GodwinPaya/Wikimedia CommonsCameroon’s President Biya seeks eighth term at 92
The leader’s long stints outside the country and infrequent public appearances have prompted speculation about his health.
President Biya in 2024. Wu Hao/Pool/Getty Images.Former Nigerian president Muhammadu Buhari dies
Buhari came to power after a historic election win in 2015, but leaves behind a mixed legacy.
Investors bet on Zambian copper despite US tariffs
Canadian mining company Barrick is pushing ahead with a $2 billion expansion of its copper operations in Zambia.
South Africa suspends police chief as crime soars
The suspension came amid accusations of abuse and corruption, though the move failed to assuage political allies who wanted a firmer response.
The startups helping African countries capture the value of their mineral exports
They are using a mix of software and grit to boost the continent’s mineral processing ambitions.
media
Kaleidoscope
Kaleidoscope looks to be the National Geographic of podcasting
The co-founders said they’ve seen a hunger among advertisers to be in front of quality content about science and tech.
Kaleidoscope Anna Wintour’s lipstick and the ‘Empire of the Elite’
Michael Grynbaum’s book about Condé Nast is littered with anecdotes.
‘Dateline’ podcast to launch Spanish-language edition
It’s a further expansion of one of NBCUniversal’s brands in Spanish.
Top admaker to Dems: Get online or retire
The firm warned that Democrats in key 2026 battleground districts are “failing” to reach Americans online.
Dem media group sounds alarm on slow investment: ‘We need help’
Courier Newsroom founder Tara McGowan pleaded with subscribers to help push back against Republicans’ “big, beautiful bill.”
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