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Intelligence for the New World Economy
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The World at a Glance
Updated 8:47am EDT
1
The US and Iran traded intensifying attacks as analysts rang alarm bells over the war’s deepening impact on the global economy.
2The fallout from the war in Iran and the impact of changing weather pattern risk worsening food insecurity globally.
3Japan courted Pacific island nations at a summit aimed at keeping them out of China’s orbit, underscoring the Asian powers’ rivalry.
4Riots broke out in the UK over the murder of a white student who was handcuffed by police after his attacker accused him of racism.
5OpenAI launched new tools for its corporate users, a move seen as an acknowledgement of rival Anthropic’s focus on enterprise.
6Estonia is offering free ChatGPT accounts to schoolchildren, as Tallinn said it would rather embrace the technology than clamp down.
Vulnerable members spend big on official comms
Franking, or the official communications sent out by Capitol Hill offices, is becoming a flashpoint in contested House elections.
“Breakfast Reception in honor of Speaker Emerita Nancy Pelosi” by Maryland GovPics, CC BY 4.0, cropped from originalKuwait shuts airport after Iranian hit
Iranian drones and missiles killed one person and injured more than 60 others, and caused “significant damage” to the facilities at Terminal 1.
Aftermath of Iranian strikes at Kuwait International Airport. Social media via Reuters.Pressure builds for crypto ethics compromise
“There are a lot of people on Capitol Hill who recognize that it’s a gating function.”
Edgar Su/Reuters Pulte’s new job complicates FISA renewal
Democrats were already worried about how the Trump administration wields the powerful surveillance tools.
Annabelle Gordon/Reuters Trump shipbuilding plan mimics fired Navy secretary’s work
John Phelan was ostensibly ousted from his job due to insufficient progress on the issue, but his replacement submitted a nearly identical proposal.
Jessica Koscielniak/ReutersRoger Stone helped Trump choose an unorthodox new intel adviser
Federal Housing Finance Agency Director Bill Pulte has no experience in the field but influential allies in his corner.
Kevin Lamarque/ReutersMicrosoft’s AI chief on the greatest game of catchup ever played
Mustafa Suleyman admits the company is behind, but says the AI race has barely begun.
Denis Balibouse/ReutersAD
Politics
Kylie Cooper/Reuters “Breakfast Reception in honor of Speaker Emerita Nancy Pelosi” by Maryland GovPics, CC BY 4.0, cropped from original Edgar Su/Reuters
Sanders follows Trump toward government stakes in private firms
The Vermont independent is proposing a bill that would give the federal government a stake in leading AI companies.
Kylie Cooper/Reuters Vulnerable members spend big on official comms
Franking, or the official communications sent out by Capitol Hill offices, is becoming a flashpoint in contested House elections.
“Breakfast Reception in honor of Speaker Emerita Nancy Pelosi” by Maryland GovPics, CC BY 4.0, cropped from originalPressure builds for crypto ethics compromise
“There are a lot of people on Capitol Hill who recognize that it’s a gating function.”
Edgar Su/Reuters Pulte’s new job complicates FISA renewal
Democrats were already worried about how the Trump administration wields the powerful surveillance tools.
Trump shipbuilding plan mimics fired Navy secretary’s work
John Phelan was ostensibly ousted from his job due to insufficient progress on the issue, but his replacement submitted a nearly identical proposal.
Blanche announces end of Trump’s $1.8 billion ‘anti-weaponization’ fund
The news could now unlock relatively quick action on Senate Republicans’ party-line immigration enforcement bill.
Roger Stone helped Trump choose an unorthodox new intel adviser
Federal Housing Finance Agency Director Bill Pulte has no experience in the field but influential allies in his corner.
Trump berates Netanyahu over Lebanon incursion
Trump reportedly called Netanyahu “f*cking crazy,” and told him that “everyone hates Israel” because of its aggression.
Few Americans feel ‘financially fulfilled’, poll finds
And about one-third of American adults say they are financially stressed.
Emanuel dings Democrats for missing corruption messaging ‘gem’
The party’s former House campaigns chief told Semafor he wants to see that message more actively paired with affordability.
Busy primary day sweeps the nation
What to watch for as voters head to the polls in California, Iowa, and New Jersey.
Business
Norlys Perez/File Photo/Reuters
Cuba suffering wartime-scale economic crisis
The economy was already struggling before the loss of cheap Venezuelan oil and Washington’s energy embargo.
Norlys Perez/File Photo/ReutersYouTubers make the jump to movies
Insiders expect more funding to flow toward internet-native filmmakers.
US job openings pick back up
The growth further dents the case for an interest rate cut.
US stocks increasingly rest on AI pillar
Companies have yet to show real returns on their AI investments.
Anthropic resists sharing financial info with lenders, sources say
Some of the lenders being pitched to buy a slice of the $4.6 billion notes that don’t have a backstop from Broadcom say they haven’t received a detailed look at the AI company’s numbers.
Technology
Google DeepMind CEO and 2024 Nobel prize winner in chemistry Demis Hassabis. Louiza Vradi/Reuters.
Ints Kalnins/Reuters
AI revolution boosts work for philosophers
As AI becomes more powerful, ensuring it has values commensurate with those of humanity becomes more important.
Google DeepMind CEO and 2024 Nobel prize winner in chemistry Demis Hassabis. Louiza Vradi/Reuters.Estonia offers free ChatGPT accounts to school children
Tallinn noted that most high-school students were using AI for schoolwork, but has decided to embrace it rather than clamp down.
Ints Kalnins/ReutersOpenAI launches new tools for corporate users
OpenAI, the ChatGPT maker, is adding plugins to its coding agent designed for banking, investment, and sales, among other roles.
Abu Dhabi doubles down on French AI with fresh deals
A joint venture of MGX, state-owned investment bank Bpifrance, chipmaker Nvidia, and France’s AI champion Mistral announced a Campus AI expansion and total investment close to $9 billion.
Chinese super-app could get an AI agent
A public launch could happen as soon as this month.
Microsoft’s AI chief on the greatest game of catchup ever played
Mustafa Suleyman admits the company is behind, but says the AI race has barely begun.
EnergyNorlys Perez/File Photo/Reuters 
Eli Hartman/File Photo/Reuters
Benoit Tessier/Reuters
Cuba suffering wartime-scale economic crisis
The economy was already struggling before the loss of cheap Venezuelan oil and Washington’s energy embargo.
Norlys Perez/File Photo/ReutersWhy isn’t oil more expensive?
Oil prices are now hovering around $95 per barrel, 30% above pre-war levels.
Eli Hartman/File Photo/ReutersTrump administration rolls back climate disclosure rules
The move could leave big companies with a more onerous task ahead in reporting their carbon footprints to shareholders.
Benoit Tessier/ReutersGulf
Ibraheem Abu Mustafa/Reuters
Oman pours money into food security with $4.2B agriculture development
Food security is a perennial issue for Gulf countries, where the harsh climate and limited water resources make growing crops difficult and expensive.
Ibraheem Abu Mustafa/ReutersBahrain bets on French luxury deals
Bahrain’s sovereign wealth fund is partnering with France’s TRAIL to back an investment fund focused on arts, music, luxury, and sports deals.
Abu Dhabi doubles down on French AI with fresh deals
A joint venture of MGX, state-owned investment bank Bpifrance, chipmaker Nvidia, and France’s AI champion Mistral announced a Campus AI expansion and total investment close to $9 billion.
Kuwait shuts airport after Iranian hit
Iranian drones and missiles killed one person and injured more than 60 others, and caused “significant damage” to the facilities at Terminal 1.
Saudi Arabia continues expansion of Mecca with new development contracts
The contracts are part of the kingdom’s push to triple the number of pilgrims visiting during Hajj and Umrah to more than 30 million annually by 2030.
China
Kiyoshi Ota/Pool via Reuters
Maxim Shemetov/Reuters
Go Nakamura/Reuters
Japan capitalizes on China backlash, courts Pacific island nations
Prime Minister Sanae Takaichi said her government would help smaller states strengthen their “autonomy and resilience,” part of an anti-China push by Japan.
Kiyoshi Ota/Pool via ReutersGig economy spurs revival in Chinese worker’s literature
A raft of poetry, fiction, and nonfiction is emerging about, and by, working-class laborers.
Maxim Shemetov/ReutersBeijing targets cooling consumer spending
Beijing is pushing new efforts to battle the lagging consumption weighing on China’s economy.
Go Nakamura/ReutersAfrica
Miners in South Africa. Oupa Nkosi/Reuters
The 2026 Basketball Africa League champions RSSB Tigers. BAL/Getty Images.
Africa’s leverage with China is growing
Beijing’s dependence on critical minerals is creating bargaining power for African governments — but debt pressures threaten to squander it.
Miners in South Africa. Oupa Nkosi/ReutersRwanda wins Basketball Africa League Championship
Basketball, which for years has languished in football’s shadow, has gained a foothold on the continent since the NBA-backed BAL was founded in 2019.
The 2026 Basketball Africa League champions RSSB Tigers. BAL/Getty Images.Nigeria’s pension pot balloons 31%
The jump came after assets invested in domestic equities more than doubled in value, adding nearly $3 billion to the pool.
South Africa picks Ramaphosa critic for inquiry chair
The inquiry will assess whether President Ramaphosa should face impeachment, following a scandal over money at his game farm.
Barrick Mining weighs London share listing for Africa assets
The move comes as the gold mining giant seeks to move its operations from what it sees as risky regions.
US slashes visa processing hubs across Africa
The cutbacks will require citizens of countries without a hub to travel to an approved site to apply.
Security
Norwegian Prime Minister Jonas Støre and Ukrainian President Volodymyr Zelenskyy in February. Alina Smutko/Reuters
Quetzalli Nicte-Ha/Reuters
Israeli Military/Handout via Reuters
Norway, citing ‘crazy world’, reconsiders EU membership
Norway is reconsidering joining the EU, the country’s foreign minister told the Financial Times.
Norwegian Prime Minister Jonas Støre and Ukrainian President Volodymyr Zelenskyy in February. Alina Smutko/ReutersSheinbaum decries US ‘interference’ in Mexico’s politics
Mexico’s president delivered her harshest rebuke yet of US “interference,” following Washington’s indictment of 10 Mexican officials for alleged cartel ties.
Quetzalli Nicte-Ha/ReutersIsrael seizes Crusader castle in Lebanon
Israeli forces seized a 12th-century Crusader castle in southern Lebanon, as Israel intensifies its farthest incursion into the country in 26 years, despite a nominal ceasefire.
Israeli Military/Handout via ReutersMedia
Katie Jones/Variety/Penske Media via Getty Images
New York Public Radio’s new boss reorganizes the network
In her first four months on the job, Christy Tanner has swiftly eliminated many of NYPR’s seniormost figures.
Katie Jones/Variety/Penske Media via Getty ImagesBret Baier on golfing with Trump, his 2028 predictions, and making the case for civility
Fox News’ Special Report host Bret Baier joins Mixed Signals to talk about what it’s like to sit at the center of American political media.
The ‘completely new’ ‘60 Minutes’
Nick Bilton’s hire signals that Paramount CEO David Ellison and editor-in-chief Bari Weiss’ overhaul of CBS News will be radical and total.
Paramount appears to sway DOJ staff on Warner Bros. takeover
US antitrust regulators appear to approve Paramount’s $110 billion studio deal after a two-hour meeting at the Justice Department Tuesday, people familiar with the matter said.
Thousands of journalists’ data exposed to dark web
More than half of the exposures contained personal information such as names, phone numbers, dates of birth, and addresses, per a new study from Proton.
CEO Signal
Courtesy of Cisco/Joey Pfeifer/Semafor
Courtesy of Match Group/Joey Pfeifer/Semafor
Courtesy of Becton Dickinson/Joey Pfeifer/Semafor
How Cisco’s Chuck Robbins gets his team to ‘disagree and commit’
The longstanding CEO says a bad decision that you reverse is better than a delay.
Courtesy of Cisco/Joey Pfeifer/SemaforWhy an anxious AI romantic now drives Match Group’s dating apps
CEO Spencer Rascoff uses digital “personas” to help the Tinder owner understand its users.
Courtesy of Match Group/Joey Pfeifer/SemaforHow syringe-maker BD is infusing AI into its medical devices
CEO Tom Polen is turning his 65,000 employees into lean manufacturing “problem-finders.”
Courtesy of Becton Dickinson/Joey Pfeifer/SemaforAD