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Intelligence for the New World Economy
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- SG
Media
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Can the newest sovereign wealth fund avoid others’ mistakes?
Indonesia’s Danantara manages $1 trillion of state-owned businesses and money and wants economic, not just financial, returns from its Wall Street partners.
The World at a Glance
Updated 6:50am EDT
1
Growing calls for AI regulation looked set to dominate the days ahead as Washington takes up the issue.
2Beijing warned that AI advancements threatened China’s political, economic, and social stability even as it dismissed US calls to slow development.
3Oil prices continued to spike as Gulf-Iran peace talks were cancelled, and concerns rose that the Bab el-Mandeb strait could be shut.
4Russia struck a Ukrainian passenger train near the Polish border, the latest sign of Moscow’s escalation of the conflict.
5Sweden’s center-left opposition appeared poised to retake power after an election that nonetheless underlined the strength of the country’s far-right.
6Anthropic CEO Dario Amodei urged firms to slow the pace of AI development, as fears of rogue AI broke into the mainstream.
Dangote launches Africa’s largest ever IPO
The company looks set to raise more than $4 billion at about a $50 billion valuation.
Fed poised to clash with Trump
Investors overwhelmingly expect Fed Chair Kevin Warsh to deliver on his hawkish speech in Jackson Hole last month.
Researchers probe how Democrats could win working-class voters
A new survey of 40,000 adults suggests how Democrats could appeal to them.
Klomp, nominated for No. 2 health post, faces Senate gauntlet
The man nominated to be Robert F. Kennedy Jr.’s No. 2 has quietly met with nearly 35 senators ahead of his confirmation hearings.
House Democrat pushes global effort on AI rules
House Democrats are circulating a letter from Rep. Yassamin Ansari, D-Ariz., imploring President Trump to lead an international effort to set AI rules.
AI risk warnings belie lack of consensus in Congress
OpenAI remains most supportive of bipartisan Senate Commerce Committee talks that could advance this week.
Uber paid drivers more than it charged passengers in Nigeria — report
The ride hailing giant subsidized drivers on short trips as inflation and weak demand made passengers price sensitive.
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Politics
Sweden’s center left looks set to win in tight election race
The results nonetheless underlined the strength of the country’s far-right parties.
Denis Balibouse/Reuters
US AI regulation calls gather pace
The US House of Representatives will this week take up a bill overseeing the data center buildout.
Aaron Schwartz/Reuters
Researchers probe how Democrats could win working-class voters
A new survey of 40,000 adults suggests how Democrats could appeal to them.
Tim Evans/Reuters
Klomp, nominated for No. 2 health post, faces Senate gauntlet
The man nominated to be Robert F. Kennedy Jr.’s No. 2 has quietly met with nearly 35 senators ahead of his confirmation hearings.
Fed poised to clash with Trump
Investors overwhelmingly expect Fed Chair Kevin Warsh to deliver on his hawkish speech in Jackson Hole last month.
House Democrat pushes global effort on AI rules
House Democrats are circulating a letter from Rep. Yassamin Ansari, D-Ariz., imploring President Trump to lead an international effort to set AI rules.
Republicans’ time crunch: Data centers, sports, crypto
Some Republicans are hoping they can address voters’ affordability concerns before the midterms.
AI risk warnings belie lack of consensus in Congress
OpenAI remains most supportive of bipartisan Senate Commerce Committee talks that could advance this week.
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
BRICS highlights opposition to tariffs
Opposition to US tariffs formed a point of consensus among the otherwise divergent interests at the BRICS summit, as Indian Prime Minister Narendra Modi touted the bloc’s “coming of age.”
Treasury yields soar to almost 5% on inflation fears
The increase in Treasury yields triggered a sell-off of Asian and Australian bonds.
Business
Can the newest sovereign wealth fund avoid others’ mistakes?
Indonesia’s Danantara manages $1 trillion of state-owned businesses and money and wants economic, not just financial, returns from its Wall Street partners.
Semafor graphic/Willy Kurniawan/Reuters
Trump says US interest rates should be lowest in the world
Trump’s call piles pressure on Federal Reserve Chair Kevin Warsh days before the bank is expected to raise rates amid an increasingly hawkish global outlook.
US inflation stayed hot in August, boosting odds of a rate hike
Elevated consumer prices, along with a stronger-than-expected jobs report this month, has traders of the Fed funds future rate betting on a rate hike next week.
Treasury yields soar to almost 5% on inflation fears
The increase in Treasury yields triggered a sell-off of Asian and Australian bonds.
How the billionaire Bayeux Tapestry backer gets ‘impact per dollar’
WorldQuant’s Igor Tulchinsky finds inspiration in the ‘very, very old data set’ now on display in the British Museum.
Technology
Beijing issues AI warnings but rejects US calls to slow development
China’s minister of state security wrote in a weekend essay that AI posed six principal risks, including threatening the security of the country’s political regime.
Go Nakamura/Reuters
US AI regulation calls gather pace
The US House of Representatives will this week take up a bill overseeing the data center buildout.
Aaron Schwartz/Reuters
House Democrat pushes global effort on AI rules
House Democrats are circulating a letter from Rep. Yassamin Ansari, D-Ariz., imploring President Trump to lead an international effort to set AI rules.
How the AI apocalypse story escaped containment
Sensational headlines are overwhelming a serious conversation in Silicon Valley.
UMG and voice AI giant ElevenLabs launch AI-powered music platform
These licensing agreements are not only a way to shift AI music companies from the targets of lawsuits to paying customers for music, but also a bet that allowing fans to play with the tech may demystify it.
AI agents hate CAPTCHA, too
An Anthropic cybersecurity report found that a Completely Automated Public Turing test to tell Computers and Humans Apart stumped a bot.
Energy
Trump blames Kyiv for diesel shortage
US President Donald Trump on Sunday called on Ukraine to stop striking Russian refineries, after Kyiv struck several over the weekend, attacks that he said were increasing the price of diesel and “hurting the world.”
Anatolii Stepanov/Reuters
Iran and the UAE meet in New Delhi
Iran and the UAE held their highest-level meeting since the start of the Iran war at the BRICS summit, where the two countries found a rare space for direct diplomacy.
Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Iranian President Masoud Pezeshkian. Iran’s Presidency/WANA (West Asia News Agency)/Handout via Reuters
Saudi pipeline shut after drone attacks
Saudi Arabia shut down its vital East-West pipeline after multiple drone attacks, intensifying the pressure on Gulf energy exports.
European Union/Copernicus Sentinel-3/Handout via Reuters
Gulf
Humanoid robots fight it out in Riyadh
Sponsored by Hero Esports, the brainchild of Chinese billionaire Dino Ying, the event was the first of its kind outside China.
Courtesy of Hero Esports
Dubai crams events delayed by the war into autumn
The twice-rescheduled Arabian Travel Market finally opens this week, while GITEX will bring 200,000 tech visitors in December.
DP World expands Africa network with new industrial park in Kenya
The Dubai port operator formalized plans for a 222-hectare industrial park at Mombasa.
UAE infrastructure moves underground
Under consideration is the 5-gigawatt AI data center project underway with US technology partners, Reuters reported.
Citi raised more than $40 billion for Saudi clients this year
US bank says it increased direct exposure to Saudi Arabia since the US-Iran war began.
China
Beijing issues AI warnings but rejects US calls to slow development
China’s minister of state security wrote in a weekend essay that AI posed six principal risks, including threatening the security of the country’s political regime.
Go Nakamura/Reuters
BRICS highlights opposition to tariffs
Opposition to US tariffs formed a point of consensus among the otherwise divergent interests at the BRICS summit, as Indian Prime Minister Narendra Modi touted the bloc’s “coming of age.”
Sputnik/Alexander Kazakov via Reuters
Chip competition heats up for Nvidia
A Chinese chip firm surged 180% in its stock-market debut, spotlighting the growing list of challengers to Nvidia’s dominance.
Go Nakamura/File Photo/Reuters
Africa
Gambia bans protests without permits
The move follows days of unrest over persistent electricity blackouts.
Malick Njie/File Photo/Reuters
South Africa loses $4.7B on oil refinery closures
Refining capacity in Africa’s largest economy has halved over the past decade.
Siphiwe Sibeko/Reuters
Dangote launches Africa’s largest ever IPO
The company looks set to raise more than $4 billion at about a $50 billion valuation.
Trump needs to listen to Africa to shape AGOA’s future
As Washington rethinks its engagement with Africa, the lesson from AGOA’s origins is clear: A durable commercial relationship starts with listening to African priorities.
Uber paid drivers more than it charged passengers in Nigeria — report
The ride hailing giant subsidized drivers on short trips as inflation and weak demand made passengers price sensitive.
Africa’s private credit market triples to $5.6B
Despite recent growth, African private credit represents just 0.3% of the $1.8 trillion global private credit market, according to a new Moody’s report.
Security
Trump blames Kyiv for diesel shortage
US President Donald Trump on Sunday called on Ukraine to stop striking Russian refineries, after Kyiv struck several over the weekend, attacks that he said were increasing the price of diesel and “hurting the world.”
Anatolii Stepanov/Reuters
Israel blows up tunnels operated by Hezbollah
Israeli authorities have refused to withdraw from southern Lebanon, citing Hezbollah’s refusal to give up arms as part of the US-brokered truce.
Reuters
Experts warn of new terrorism threats from AI, drones
25 years after the Sept. 11 attacks, Western societies face resurgent threats from advanced technologies, experts said
Kim Hong-ji/Reuters
Media
Inside the US Treasury secretary’s tense relationship with financial media
Scott Bessent’s blacklist starts with Bloomberg.
Brian Snyder/Reuters
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.
Paid actors, AI writing: How a new kind of video business cashed in on America’s divided politics
‘Ghost creators’ are reaching millions of viewers with nearly identical, sensationalized videos that take aim at Democrats.
CEO Signal
How the billionaire Bayeux Tapestry backer gets ‘impact per dollar’
WorldQuant’s Igor Tulchinsky finds inspiration in the ‘very, very old data set’ now on display in the British Museum.
The logic behind Scott Kirby’s long-odds bet on a United Airlines deal
The gambler-turned-CEO is making the case for consolidation while trying to build a brand that passengers love.
How a ‘China-for-China’ strategy rebooted Logitech
CEO Hanneke Faber says competing in China is critical to winning in the rest of the world.
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