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Intelligence for the New World Economy
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The World at a Glance
Updated 6:35am EDT
1
Republican leaders are rushing to redraw congressional maps after the US Supreme Court limited the use of race in districting.
2The Trump administration said it did not have to seek Congressional approval for the Iran war, citing the ceasefire.
3European tourism faces a tough summer as the closure of the Strait of Hormuz squeeze global jet fuel supplies.
4The Iran war is accelerating the energy transition as governments race to reduce reliance on fossil-fuel supply chains.
5The US and Iran each signaled they have the upper hand as the stalemate over the Strait of Hormuz endures.
6US GDP rose 2% in the first three months of 2026, as AI investment outweighed a slight pullback in consumer spending.
Republicans plan ‘all-out assault’ on Platner’s candidacy in Maine
The GOP is readying a barrage of negative attacks on the Democratic Senate candidate.
Brian Snyder/ReutersSemafor launches Silicon Valley & The World
New initiative will connect the builders of transformative technologies with the global leaders shaping their consequences.
Trump signs order expanding workers’ access to retirement plans
The president’s Thursday move will be integrated with the 2022 Saver’s Match, as first reported by Semafor earlier this year.
Evelyn Hockstein/ReutersDan Schulman’s plan to get Verizon back in the fight
“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.
Supreme Court sparks a bipartisan redistricting rush
Lawmakers in both parties are endorsing plans to wipe out their rivals in states they control, with few voices of caution.
Nathan Howard/ReutersSurveillance dilemma: Punt or shutdown
Congress is still racing to keep expiring Foreign Intelligence Surveillance Act powers online.
Kent Nishimura/Reuters Schiff tests GOP ahead of Iran war’s 60th day
Republicans are talking a lot about their concerns with an unauthorized war after more than 60 days, and the California Democrat says this is their chance to act.
Evelyn Hockstein/Reuters 
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Politics
Elizabeth Frantz/Reuters
Kylie Cooper/Pool via Reuters 
Reuters
Debatable: Trump’s White House ballroom
Lawmakers are debating whether the ballroom could solve the security problem — and how to fund it.
Elizabeth Frantz/ReutersHouse may ban lawmakers from prediction markets
The Senate earlier unanimously passed a ban on senators trading on prediction markets Thursday.
Kylie Cooper/Pool via Reuters Democrats wrestle over campaign agenda: ‘You can’t just be anti-Trump’
Even if they can find middle ground, there’s the question of the best messenger for a party that lacks a clear leader.
ReutersRepublicans plan ‘all-out assault’ on Platner’s candidacy in Maine
The GOP is readying a barrage of negative attacks on the Democratic Senate candidate.
Bipartisan pair of senators introduces prediction markets bill
The proposal would specifically define terms like event contracts while also requiring exchanges to implement safeguards against advertising, illicit finance, and fund segregation.
Supreme Court sparks a bipartisan redistricting rush
Lawmakers in both parties are endorsing plans to wipe out their rivals in states they control, with few voices of caution.
Trump reportedly weighs renewed Iran attacks
Worries that the conflict could resume drove benchmark oil prices above $126 a barrel.
Schiff tests GOP ahead of Iran war’s 60th day
Republicans are talking a lot about their concerns with an unauthorized war after more than 60 days, and the California Democrat says this is their chance to act.
Surveillance dilemma: Punt or shutdown
Congress is still racing to keep expiring Foreign Intelligence Surveillance Act powers online.
Trump signs order expanding workers’ access to retirement plans
The president’s Thursday move will be integrated with the 2022 Saver’s Match, as first reported by Semafor earlier this year.
Oil rises as Trump rejects Iran’s peace proposal
The price of oil rose Wednesday after US President Donald Trump rejected Iran’s proposal to open the Strait of Hormuz and defended his maritime blockade.
Business
Lisi Niesner/Reuters
AI Is changing the price of work
The pre-AI economy ran on inputs. That’s about to change.
Lisi Niesner/ReutersInvestors grapple with Big Tech’s AI spending spree
US stocks on Thursday wrapped up their best month since 2020, as investors shrugged off disruptions from the Iran war and picked winners and losers in Big Tech.
FCC’s Disney probe divides Republicans
The accusations of censorship from some Republicans suggest Brendan Carr misjudged the appetite for a crackdown on speech.
Dan Schulman’s plan to get Verizon back in the fight
“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.
Asian development bank sharply downgrades growth forecasts
The high cost of oil has pushed the rupee down in India, and South Korea and Japan both saw petrochemical and refinery activities slow.
Technology
Brendan McDermid/Reuters
Brendan McDermid/Reuters
Investors grapple with Big Tech’s AI spending spree
US stocks on Thursday wrapped up their best month since 2020, as investors shrugged off disruptions from the Iran war and picked winners and losers in Big Tech.
Brendan McDermid/ReutersAI investment props up US GDP growth
US GDP rose 2% in the first three months of 2026, new data showed Thursday, driven by AI investment.
Brendan McDermid/ReutersPsiQuantum adds Intel’s Lip-Bu Tan to board
The appointment draws PsiQuantum closer to the semiconductor industry.
Big Tech firms beat earnings expectations amid AI spending questions
Alphabet, Amazon, Meta, and Microsoft all beat first-quarter earnings expectations on Wednesday, but investors are poised to closely scrutinize their heavy spending on AI.
Musk v. Altman trial is reverse Gladiator
Instead of Gladiators fighting for our entertainment, the emperors are shadowboxing before an angry populace.
Is revenue the wrong way to value AI?
Traditional financial metrics like revenue and profit don’t tell you much about who will win the AI race in the long run.
Energy
Carlos Barria/Reuters
Kevin Lamarque/Reuters
Staff/Reuters
Sixty nations agree to landmark climate accord
Nearly 60 nations this week moved toward phasing out oil, gas, and coal, in a climate summit that aimed to accelerate a global shift toward renewables.
Carlos Barria/ReutersClimate tech startups turn to AI
AI is becoming harder to avoid across climate tech in general, and solar developers in particular face narrowing margins.
Kevin Lamarque/ReutersUAE’s OPEC exit deals major blow to oil cartel
Abu Dhabi argued the move would allow it to act more independently in its “long-term strategic and economic vision.”
Staff/ReutersGulf
Poster of former IRGC commander Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis in Baghdad. Ahmed Saad/Reuters
America’s Iraq failure is haunting Trump’s war with Iran
Iraqi militia attacks on Gulf states show how US failures in Iraq are complicating the Iran war.
Poster of former IRGC commander Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis in Baghdad. Ahmed Saad/ReutersAbu Dhabi’s Orbitworks plans $1 billion spend on satellite expansion
Space firm signs deal with French government as it looks to build an AI-powered satellite cluster.
Saudi Arabia brings medieval cartography, and Yoko Ono, to Venice
Thirteenth-century maps, first-century incense burners, and new commissions from Yoko Ono and Wael Shawky are coming together in Saudi’s Venice exhibition.
Abu Dhabi saw prewar property boom with best-ever first quarter
Sales in the first three months of 2026 were almost half of the total figure for 2025, according to the sector’s regulator ADREC.
Saudi-backed epic flops at box office in the US
Desert Warrior, a Saudi-backed movie that reportedly cost about $150 million to make, only brought in $472,000 in its opening weekend.
Africa
Military personnel during a defense expo in Mali last year. Francis Kokoroko/Reuters.
Thomas Mukoya/Reuters
Why the Sahel crisis matters to Europe
A coordinated attack by jihadists and Tuaregs in Mali exposes the vulnerability of its ruling junta.
Military personnel during a defense expo in Mali last year. Francis Kokoroko/Reuters.Kenya eyes $600M in World Bank emergency funds
The East African nation is particularly vulnerable given it imports the vast majority of its fuels from the Gulf.
Thomas Mukoya/ReutersSouth Africa’s law and order test
Two major anti-corruption findings are due in the coming weeks.
South Africa withdraws AI policy over AI-generated sources
The communications minister admitted that the department failed to spot the fabricated references before releasing the draft policy for public comment.
Mali leader makes first public appearance since insurgent attacks
An al-Qaida affiliate and an allied separatist group assassinated Mali’s defense minister and captured key territory in the country’s north during the strikes.
Canal+ to list on the Johannesburg Stock Exchange
The announcement comes a year after the French entertainment group took over Africa’s largest cable television company, MultiChoice.
Security
Ramil Sitdikov/Reuters
US Central Command/Handout via Reuters
Quetzalli Nicte-Ha/Reuters
Backlash swells to Russia web crackdown
More ordinary Russians are starting to speak out, in a rare chorus of dissent.
Ramil Sitdikov/ReutersTrump reportedly weighs renewed Iran attacks
Worries that the conflict could resume drove benchmark oil prices above $126 a barrel.
US Central Command/Handout via ReutersMexico arrests cartel leader amid widening gang crackdown
Mexican President Claudia Sheinbaum intensifies her gang crackdown.
Quetzalli Nicte-Ha/ReutersMedia
Jessica Koscielniak/Reuters
How the WHCD shooting laid bare the media’s trust crisis
I was at the White House Correspondents’ Association dinner. Some number of people are convinced we’re not getting the real story.
Jessica Koscielniak/Reuters FCC challenges ABC broadcast licenses
The move could strip ABC of its ability to broadcast to stations across the country following Jimmy Kimmel’s “expectant widow” monologue comments.
What’s next for Letterboxd?
The controlling investor in Letterboxd, the cinephile social platform, is looking to sell its stake.
LeBron James is getting ready for his post-NBA media career, partner says
In an appearance at last week’s Semafor World Economy gathering, Maverick Carter said that changes in the tech and media landscape will allow James some flexibility in terms of his next moves once he retires — which could be as soon as later this month.
CNN backpedals after booker turns away guest for merger segment
“No one advised any editorial employee at CNN not to pursue this story,” a CNN spokesperson said.
CEO Signal
Courtesy of Government of Dubai/Joey Pfeifer/Semafor
Courtesy of Hilton/Joey Pfeifer/Semafor
Dan Schulman’s plan to get Verizon back in the fight
“If somebody’s going to punch me, I’m going to punch back,” Verizon CEO Dan Schulman says in this episode of The CEO Signal.
How Dubai’s Hadi Badri builds confidence in a crisis
The Dubai Economic Development Corp. CEO says data, proactive engagement, and long-term goals can turn the Iran conflict into a “speed bump.”
Courtesy of Government of Dubai/Joey Pfeifer/SemaforHilton’s Chris Nassetta on why CEOs should ‘lift above the noise’
The longstanding leader says it’s critical to avoid “jerking the wheel.”
Courtesy of Hilton/Joey Pfeifer/SemaforAD