The World at a Glance
Updated 5:27pm EST
1
Germany’s traffic light coalition comes to an end after Chancellor Olaf Scholz fires his finance minister, plunging the country into a political crisis.
2Vice President Kamala Harris has called Donald Trump to concede the 2024 election, a Harris aide said.
3Donald Trump won the US presidential election, completing an improbable comeback and telling crowds “America has given us an unprecedented and powerful mandate.”
4China has shored up its defense against tariffs in recent years, anticipating a looming trade dispute with the US under Trump.
5World leaders congratulated Trump on his victory, with France’s Macron, Ukraine’s Zelenskyy, and India’s Modi quick to post messages on X.
6The head of a Russian sovereign wealth fund told Semafor Trump’s victory could reset US-Moscow relations, even as the Kremlin refused to congratulate him.
TRUMP WINS
A nationwide backlash to the incumbent Democratic White House showed up across red, blue, and purple states.
Brian Snyder/ReutersLatino voters, once seen as solidly Democratic, see a future in Trump’s America
The Republican leader has made significant gains with Latino voters, and especially men, many of whom see the economy as their greatest challenge.
Carlos Barria/ReutersDemocrats not ready to give up on retaking the House, despite long odds
If Republicans hang on, “Every House member is about to be Joe Manchin.”
Hannah McKay/ReutersMexico braces for new Trump era marked by economic and diplomatic tensions
The Mexican peso plummeted amid fears over Trump’s proposed tariffs and tougher immigration controls.
Go Nakamura/ReutersAD
AI polling company defends wrong predictions on the US election
The founder of Aaru told Semafor that despite getting most predictions wrong, its model still “did well” and is faster and cheaper than traditional polling.
Al Lucca/SemaforTrump win and Gallant dismissal will boost Netanyahu’s power
The removal of his defense minister coupled with a Donald Trump presidency could help the Israeli prime minister’s political fortunes.
Amir Cohen/ReutersTrump will test how fragile the energy transition really is
“Our future feels as if it’s been voted away by the very nation most responsible for this crisis.”
Brian Snyder/Reuters
politics
Kevin Lamarque / ReutersCarlos Barria/Reuters 
Win McNamee/Reuters
Democrats ask: Why didn’t anything work?
A party in the wilderness has no answers.
Kevin Lamarque / ReutersLatino voters, once seen as solidly Democratic, see a future in Trump’s America
The Republican leader has made significant gains with Latino voters, and especially men, many of whom see the economy as their greatest challenge.
Carlos Barria/ReutersWhat Republicans can do with their new power — and where they’ll struggle
Some things will be easy with likely complete control of Washington. Others will spark tough internal disputes.
Win McNamee/ReutersDemocrats not ready to give up on retaking the House, despite long odds
If Republicans hang on, “Every House member is about to be Joe Manchin.”
Prediction markets take a victory lap after Trump win
Some experts believe the election could usher in a new era for prediction markets in US politics.
Trump-Musk relationship puts spotlight on global EV industry
Elon Musk’s close relationship with both China and Donald Trump could shape the global EV industry for years to come.
World leaders congratulate Trump on his election victory
French President Emmanuel Macron and Ukrainian President Volodymyr Zelenskyy were among those who congratulated Trump.
What a second Trump presidency could mean for the US
The Republican is likely to usher in protectionist economic policies and potentially dramatic curbs on immigration.
Donald Trump decisively wins a second term in the White House
A nationwide backlash to the incumbent Democratic White House showed up across red, blue, and purple states.
World watches US election
The strength of Washington’s global influence may be increasingly in question, but world leaders are still keenly watching who takes the White House.
The 2024 election buried Barack Obama’s coalition
Republicans are poised to win the popular vote for the first time in 20 years.
businessGo Nakamura/Reuters
Mexico braces for new Trump era marked by economic and diplomatic tensions
The Mexican peso plummeted amid fears over Trump’s proposed tariffs and tougher immigration controls.
Go Nakamura/ReutersGlobal stocks jump after Trump victory
Shares hit record highs in the US, but slumped in China amid concerns over future trade tensions.
US markets climb as presidential election enters final hours
Three major US stock indexes closed up by more than 1% on Election Day.
Fintech lender Dave accused of misleading needy borrowers
The US Federal Trade Commission sued the cash advance app over hidden fees and dark-pattern cancellation mazes.
US inflation on track to meet Federal Reserve’s 2% target
Inflation was at 2.1% in September, according to new Commerce Department figures released Thursday, meeting analysts’ expectations.
technologyAl Lucca/Semafor 
Carlos Barria/File Photo/Reuters
AI polling company defends wrong predictions on the US election
The founder of Aaru told Semafor that despite getting most predictions wrong, its model still “did well” and is faster and cheaper than traditional polling.
Al Lucca/SemaforElon Musk is tech’s big winner in the US election
Semafor breaks down how his companies could benefit under another Donald Trump presidency.
Carlos Barria/File Photo/ReutersLabour government needs to overhaul UK tech ecosystem or miss out on AI boom
That’s the view of entrepreneurs and some public officials looking to put tech and science at the heart of the UK’s growth agenda.
How Asia’s tech companies view the US presidential race
Asian tech companies outside of China that have previously benefited from US subsidies are bracing for change, especially if Donald Trump wins.
Concerns grow in Washington over Intel
Policymakers have grown worried enough about the chipmaker to quietly discuss scenarios should it need further assistance.
Data is the ‘new oil,’ and it’s outperforming the old, literal oil
Microsoft, Meta, and Alphabet all reported better-than-expected earnings this week, while oil companies are on a very different trajectory.
net zeroBrian Snyder/Reuters 
Aziz Karimov/Reuters
Aziz Karimov/Reuters
Trump will test how fragile the energy transition really is
“Our future feels as if it’s been voted away by the very nation most responsible for this crisis.”
Brian Snyder/ReutersUS election casts a long shadow on upcoming UN climate summit
World governments are worried that a second Trump presidency will hamper US leadership on climate.
Aziz Karimov/ReutersPrepare for COP29 to be a letdown
A sky-high climate fundraising target will be difficult to achieve at COP29.
Aziz Karimov/Reutersgulf
Tingshu Wang/Reuters
Actis, Fortescue JV could ship Oman green hydrogen by 2030
General Atlantic’s sustainable infrastructure unit Actis and Fortescue JV could ship its first green hydrogen cargo from Oman by 2030.
Tingshu Wang/ReutersGulf caught in Israel-Iran escalation fears
Rising tensions between Israel and Iran cast a shadow over Gulf economic interests as the US boosts its regional military presence.
NEOM’s Oxagon expects AI data center deal this year
Oxagon, NEOM’s industrial city, is in talks to host a potential 1GW AI data center and factories for wind and solar energy components.
Saudi FII deals headlined by Google, Brookfield, Airbus
FII this year hasn’t resulted in the $28 billion in deals that were expected, but plenty of multi-billion agreements were inked.
Riyadh Air boosts fleet with Airbus A321neo order
Saudi Arabia’s new flagship airline makes a firm order for narrowbody jets that will carry passengers to its Riyadh hub.
africa
Starlink
Shiraaz Mohamed/AFP via Getty Images
Starlink puts halt on new customers in Africa
Elon Musk’s internet service provider Starlink is halting new sign-ups in Africa, citing a demand surge in the continent’s biggest cities.
StarlinkDeadly food poisoning sparks xenophobic shop attacks in South Africa
A spate of deaths in South Africa following food poisoning outbreaks have sparked violence directed at African migrant shopkeepers.
Shiraaz Mohamed/AFP via Getty ImagesTrump’s Africa plans take pragmatic turn
Republican US-Africa specialists predict a second Trump administration would take a more “transactional, realistic and pragmatic” approach in dealing with Africa.
Desire to migrate abroad from Africa reaches new high
West Africa is the epicenter of the most intense push for migration away from Africa, according to Gallup.
Botswana’s president concedes defeat after ruling party loses election
The result marks a rejection of the governing party, which has ruled the diamond-rich southern African country for 58 years.
Senegalese investor raises one of Africa’s largest female-led funds for startups
African venture capital firm, Janngo Capital, has raised $78 million for its next investment fund.
media
Needle at risk: In bitter, election-day labor dispute, union accuses Times of trying to ‘burn the house down,’ while paper accuses tech workers of trying to ‘block this public service’
A labor feud plays out on election day.
In a frank internal meeting, The New York Times wrestled with its political role
It’s an extraordinary look inside a key American institution under intense external scrutiny and internal pressure.
Open letter to Jeff Bezos: To restore trust in news, we need to look forward, not backward
Semafor CEO and co-founder Justin Smith on what the news industry needs to do next.
Why the Economist is endorsing in 2024
The British publication is going for Kamala Harris.
Washington Post pays to boost stories critical of Trump as subscribers flee
The paper has seen a mass exodus of subscribers since its owner Jeff Bezos decided it would no longer endorse candidates for president.
security
Al Lucca/Semafor
North Korean leader Kim Jong Un. KCNA via Reuters.
Tasos Katopodis/Getty Images for Semafor
Germany braces for Trump’s potential return
Berlin is determined to be more prepared for a second Trump term than it was for his first.
Al Lucca/SemaforNorth Korea conducts missile test days ahead of US election
Pyongyang has made a tradition of test-firing ballistic weapons around the time of major American political events.
North Korean leader Kim Jong Un. KCNA via Reuters.Exclusive: NASA head says report of Elon Musk talking to Putin should be investigated
NASA head Bill Nelson told Semafor that alleged calls between Russian President Vladimir Putin and billionaire Elon Musk are “concerning” if true.
Tasos Katopodis/Getty Images for SemaforAD