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Intelligence for the New World Economy
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Trump and Xi conclude Washington visit that was short on substance
The pair made minor concessions on trade, Beijing pledged more student visas, and Xi said two pandas would soon arrive at a zoo in Atlanta.
Trump and Xi conclude Washington visit that was short on substance
The pair made minor concessions on trade, Beijing pledged more student visas, and Xi said two pandas would soon arrive at a zoo in Atlanta.
White House is isolated in brushing off AI safety
View / Africa’s resilience drive hinges on partnerships
The World at a Glance
Updated 6:52am EDT
1
US President Donald Trump and Chinese leader Xi Jinping are set to conclude a high-pomp superpower summit that was short on substance.
2The global bond selloff is pushing long-term borrowing rates to record highs, as traders bet that inflation will remain elevated.
3Oracle’s force majeure declaration on a US data center amplified fears of a potential spending bubble.
4Saudi Arabia said it intercepted six ballistic missiles fired by Yemen’s Iran-backed Houthis, pushing oil prices up on fears the conflict could expand and intensify.
5Nvidia CEO Jensen Huang dismissed concerns over AI’s existential threats as a “distraction” that’s “not grounded on science.”
6Israeli Prime Minister Benjamin Netanyahu railed against the country’s critics in a UN General Assembly speech that showcased Israel’s growing isolation.
‘It’s a gimmick’: Trump’s diesel export limits would face huge problems
The president is still entertaining a ban that most Hill Republicans hate and that analysts warn would risk driving up gas prices.
Senators move to force AI companies to disclose more
The measure would have the FTC enforce disclosure requirements for certain AI companies.
How splitting from GSK taught Haleon a spin-off is not a finish line
Brian McNamara took his consumer health group through an independent listing, only to find that it needed fresh energy and new leaders.
Zambia is close to resolving $1.5B US health data dispute - minister
Zambia’s foreign minister Mulambo Haimbe told Semafor that Washington had agreed to remove contentious data-sharing provisions.
Giffords launches new ads against two House Republicans
Giffords PAC is going after Rep. Rob Bresnahan in Pennsylvania and Rep. David Valadao in California.
How Harvard Business School’s former dean thinks AI will test today’s CEOs
Nitin Nohria sees the technology as a decentralizing force that will challenge company power structures.
Klomp wins over Democrat in bid to be No. 2 HHS official
Sen. Sheldon Whitehouse, D-R.I., often a vocal critic of President Donald Trump, joined 14 Republicans to support Trump’s nominee.
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Politics
Youngkin sends $100K to top conservative nonprofit
The move from the former Virginia governor comes as he steps up his midterm campaign-trail presence at the peak of the fight for control of Congress and governorships.
Elizabeth Frantz/Reuters
Xi’s visit to Washington wraps with little changed
The three-day trip led to no significant breakthroughs on the two country’s disagreements.
Evelyn Hockstein/Reuters
Trump and Xi conclude Washington visit that was short on substance
The pair made minor concessions on trade, Beijing pledged more student visas, and Xi said two pandas would soon arrive at a zoo in Atlanta.
Evelyn Hockstein/Reuters
Giffords launches new ads against two House Republicans
Giffords PAC is going after Rep. Rob Bresnahan in Pennsylvania and Rep. David Valadao in California.
Klomp wins over Democrat in bid to be No. 2 HHS official
Sen. Sheldon Whitehouse, D-R.I., often a vocal critic of President Donald Trump, joined 14 Republicans to support Trump’s nominee.
‘It’s a gimmick’: Trump’s diesel export limits would face huge problems
The president is still entertaining a ban that most Hill Republicans hate and that analysts warn would risk driving up gas prices.
White House is isolated in brushing off AI safety
President Donald Trump’s call to leave AI “exactly where it is” contrasts even with Chinese leader Xi Jinping.
Israel’s Netanyahu defends Iran war, rails against critics in combative UN speech
Hundreds of diplomats left the Assembly Hall as the increasingly isolated Israeli Prime Minister defended the Iran war and railed against Israel’s critics.
Trump-Xi meeting light on substance
Few details have emerged from a wide-ranging White House meeting Thursday morning.
Republican presses White House for more AI oversight
Sen. Todd Young, R-Ind., warned that AI-enabled attacks could potentially target hospitals, electric grids, and other infrastructure.
New Tigray offensive ends four year ceasefire
Tensions over who controls the contested region have been growing for months; a previous war led to hundreds of thousands of deaths.
Business
How Harvard Business School’s former dean thinks AI will test today’s CEOs
Nitin Nohria sees the technology as a decentralizing force that will challenge company power structures.
How splitting from GSK taught Haleon a spin-off is not a finish line
Brian McNamara took his consumer health group through an independent listing, only to find that it needed fresh energy and new leaders.
UBS considers an exit from Switzerland
Senior leaders have revived discussions about combining with a foreign bank after Swiss regulators voted this week to demand it raise more capital.
UK’s Burnham signals booze could return to soccer stands
UK Prime Minister Andy Burnham called the 40-year ban “discriminatory.”
AI’s financial Jenga towers start to wobble
In an exquisitely arranged patchwork of loans, insurance policies, and milestone-triggered payments, a single element falling out of place can expose financial backers and insurers to losses.
Technology
McDonald’s unveils AI-enabled drive-thru system
AI drive-thrus have tripped up other chains, including Burger King.
May James/Reuters
Hollywood scouts film schools for AI-native talent
“How do we find people who already know how to use this?” is a common question studios are asking now, said Runway CEO Cristóbal Valenzuela.
Kris Tripplaar/Semafor
Meta’s Muse taps into ‘kidult’ market
In a world of Labubus and “kidults,” Muse’s cutesy aesthetic is a smart play for the company.
Oracle force majeure on US data center showcases AI infrastructure risks
Officials where the facility is being built have delayed permits necessary to power the project, and Oracle may seek to delay lease payments.
Nvidia CEO Jensen Huang dismisses AI fears as ‘distraction’
Nvidia chief Jensen Huang characterized fears over AI’s existential threats as a “distraction” that’s “not grounded on science.
Top AI bosses issue stark warning to UN on safety risks
Anthropic’s Dario Amodei warned that “if managed poorly, AI could be a risk to humanity as a whole.”
Energy
Expanding biofuel production could require an area the size of Germany
Global biofuel production is expected to rise by around 70% between 2025 and 2030.
Pilar Olivares/Reuters
A seven-day proposal to reopen Hormuz is on the table
The proposal builds on an earlier agreement to extend a ceasefire, which collapsed in July.
Stringer/Reuters
Enough about the data centers already
One thing I took away from New York Climate Week, is that the raging debate around AI infrastructure is just the tip of the iceberg.
Elizabeth Mendez/Reuters
Gulf
Saudi Arabia intercepts Houthi missiles
Though Riyadh signed a defense agreement with Pakistan and Türkiye, neither has been willing to deploy troops to help the kingdom.
Houthi Military Media/Handout via Reuters
India’s biggest payments app PhonePe enters UAE
The UAE fintech industry is projected to nearly double by 2029, after drawing in a third of all startup funding in the country in 2024.
UAE launches new freight rail service connecting Fujairah with Abu Dhabi
Three times a week, Etihad Rail will move containers about 200 kilometers from the port on the UAE’s Gulf of Oman coast to Abu Dhabi.
Microsoft doubles down on investment in the Gulf
Microsoft is planning to spend at least $10 billion by 2030 to shore up the region’s digital resilience.
Iran presents US with roadmap to end the war
It echoes the two countries’ June agreement — a 60-day ceasefire and the reopening of the Strait of Hormuz — The National reported.
China
Trump and Xi conclude Washington visit that was short on substance
The pair made minor concessions on trade, Beijing pledged more student visas, and Xi said two pandas would soon arrive at a zoo in Atlanta.
Evelyn Hockstein/Reuters
Xi calls for ‘healthy’ competition between China and US
During his historic White House visit, China’s leader Xi Jinping said the countries shared the “responsibility to develop and manage AI for good.”
Evan Vucci/Reuters
US allies fret their position could be weakened in China talks
Analysts say one of Chinese leader Xi Jinping’s priorities will be persuading Trump to halt $14 billion in proposed armed sales to Taiwan.
Kenny Holston/Reuters
Africa
Namibia eyes local mineral processing
The country’s president says international investors will be required to work with local partners.
Eduardo Munoz/Reuters
Africa Finance Corporation advises Senegal to focus on growth
The advice comes as Dakar negotiates its new $2.2 billion International Monetary Fund program.
Kevin Dale/Semafor
Nigeria announces largest rate cut in two decades
The move signals the possibility of an easing cycle next year, analysts said.
Nigeria and US sign minerals agreement
The investment framework is the latest step in Abuja’s push to compete for investment dollars flowing into Africa’s minerals sector.
African resilience drive hinges on partnerships
Mineral-rich African nations are converging around a push to pivot from simply exporting raw materials to a greater emphasis on local processing.
Zambia is close to resolving $1.5B US health data dispute - minister
Zambia’s foreign minister Mulambo Haimbe told Semafor that Washington had agreed to remove contentious data-sharing provisions.
Security
Saudi Arabia intercepts Houthi missiles
Though Riyadh signed a defense agreement with Pakistan and Türkiye, neither has been willing to deploy troops to help the kingdom.
Houthi Military Media/Handout via Reuters
Russia looking to escalate hybrid war, Denmark warns
Denmark’s intelligence service warned that there is a “low but growing risk” of direct attack by Moscow.
Ints Kalnins/Reuters
US, Iran explore phased deal to reopen Hormuz
Diplomacy will be challenged by both sides’ unwillingness to surrender leverage.
Reuters
Media
Trump battles press as Xi heads to town
A judge is expected to hear arguments in a lawsuit brought by the three news outlets the president banned from the White House last week.
David Dee Delgado/Reuters
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Fertile ground
Flagship’s lead writer Tom Chivers says goodbye after four years.
Crooked Media’s nonprofit launches new political creator drive
The nonprofit arm of Pod Save America’s audio empire is hoping to lure younger voters back to the Democratic Party.
YouTube cracks down on ‘ghost creators’
The enforcement action targeted accounts named in Semafor’s report earlier this week.
CEO Signal
How Harvard Business School’s former dean thinks AI will test today’s CEOs
Nitin Nohria sees the technology as a decentralizing force that will challenge company power structures.
How splitting from GSK taught Haleon a spin-off is not a finish line
Brian McNamara took his consumer health group through an independent listing, only to find that it needed fresh energy and new leaders.
Why Kai-Fu Lee thinks companies need an AI boss
Google’s former China chief says CEOs face a Darwinian choice if they want more than “AI theater.”
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