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Texas Republican Senate hopefuls scramble to spend the day with Trump
View / Venezuela’s long road back to oil relevance
The World at a Glance
Updated 9:56am EST
1
World Economic Forum chief Børge Brende resigned following an investigation into his ties to Jeffrey Epstein.
2Ireland boosted its regional security alliances as it looks to ward off a potential Russian attack on key infrastructure.
3Zimbabwe suspended lithium exports as it looks to capture more value along the supply chain, sending prices soaring.
4More than 1,700 Africans have been recruited to fight for Russia in Ukraine, many lured with job offers, Kyiv said.
5US and Ukrainian envoys will meet to discuss Ukraine’s post-war future, even as a ceasefire remains unlikely.
6The US and Iran meet for crucial talks today, as Washington deploys huge military assets to the Middle East.
FEMA disaster relief fund nearly empty, officials say
The Trump administration is amping up pressure on Congress to pass a DHS funding bill.
Ken Cedeno/ReutersFCC Chair Brendan Carr praises Bari Weiss’ CBS
“I think they’re doing a great job,” Carr said at Semafor’s Restoring Trust in Media event Wednesday.
Paul Morigi/Getty Images for SemaforWall Street’s top cop wants companies to name names
The Southern District of New York is changing a longstanding approach to corporate fraud prosecutions, hoping to incentivize companies to flip on their executives.
Shannon Stapleton/ReutersPaypal, Stripe not currently in talks
PayPal has been working with bankers for months to prepare for a potential activist campaign or unwanted takeover bid.
Fabrizio Bensch/ReutersHighlights from Semafor’s Restoring Trust in Media
As trust in news declines and business models evolve, media power is being reshaped by mergers, regulation, and ownership battles.
Inside Trump’s bid to involve banks in immigration agenda
The administration’s exploration of a requirement for banks to collect proof of citizenship from customers began late last year.
Kylie Cooper/Reuters The Sierra Club has a plan to fight Trump — and fix itself
The head of the largest US green group, which has been rocked by internal strife, said coalitions around social justice issues are key to fighting Trump’s climate rollbacks.
Sierra Club activists during a protest in 2010. Henry Romero/Reuters.
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Politics
Elizabeth Frantz/Reuters
Venezuela’s interim President Rodriguez and US Energy Secretary Wright tour oil facilities. Miraflores Palace/Handout via Reuters 
Texas Republican Senate hopefuls scramble to spend the day with Trump
All three changed plans to make sure they could stand alongside the president whose primary endorsement has remained elusive.
Elizabeth Frantz/ReutersVenezuela’s long road back to oil relevance
Sanctions relief and new laws may attract investors, but politics, infrastructure, and trust hinder a rapid oil revival.
Venezuela’s interim President Rodriguez and US Energy Secretary Wright tour oil facilities. Miraflores Palace/Handout via Reuters Moreno moves to lock down the Senate GOP campaign chief race for 2028
The first-term Ohioan is a man in a hurry, leveraging strong relationships throughout the party to make a decisive play.
FEMA disaster relief fund nearly empty, officials say
The Trump administration is amping up pressure on Congress to pass a DHS funding bill.
Republican floats working with Democrats on voter ID bill
Sen. Roger Marshall, R-Kan., thinks getting Democrats to vote for the bill is the most plausible path to passing it.
Johnson appears unlikely to punish Democrats for SOTU protests
“I think the punishment is the video that lives on forever of them acting as they did, the total lack of respect and decorum and just carrying it on,” the House speaker told Semafor.
French territory of New Caledonia seen as possible minerals target
Could the French territory be in Trump’s sights?
Inside Trump’s bid to involve banks in immigration agenda
The administration’s exploration of a requirement for banks to collect proof of citizenship from customers began late last year.
Epstein saga ensnares academia
Harvard University’s former president Larry Summers will resign from the school over his ties to Jeffrey Epstein, as the scandal increasingly ensnares figures in academia.
US, Iran set to hold last-ditch nuclear talks
Iran threatened to escalate any conflict if the US attacked, as both countries ramp up pressure on each other ahead of nuclear talks in Geneva on Thursday.
Republicans to Trump: Make any Cabinet shakeups soon, or after November
Few are sure he’ll change up his top ranks as negative headlines mount. But they know pre-midterms drama doesn’t help.
Business
Brendan McDermid/Reuters
Private credit, in the eye of Wall Street’s storm, passes a test
If Blue Owl were a bank, it would already be out of business.
Brendan McDermid/ReutersKalshi finds insider trading, a first for prediction markets
Kalshi reported an employee of YouTube star MrBeast to federal authorities for allegedly using inside information to place well-timed bets on its platform.
Wall Street’s top cop wants companies to name names
The Southern District of New York is changing a longstanding approach to corporate fraud prosecutions, hoping to incentivize companies to flip on their executives.
Paypal, Stripe not currently in talks
PayPal has been working with bankers for months to prepare for a potential activist campaign or unwanted takeover bid.
Credit Suisse trader fired for Archegos mess wins $8M in back pay
UBS isn’t done paying for its emergency rescue of Credit Suisse yet.
Technology
Courtesy Coco
Courtesy of Perplexity
Coco’s new delivery robot is hitting the streets, literally, and without a human driver
Coco 2 will be able to maneuver off sidewalks and onto streets and bike lanes, without needing a remote human driver to navigate it.
Courtesy CocoPerplexity launches ‘Computer’ super agent
“Computer” breaks down any assignment for task-specific sub-agents to do the work from start to finish.
Courtesy of PerplexityFighter jet uses AI to better identify targets for the first time
Lockheed Martin said the test version of the AI tool, deployed on its F-35s “can enable faster and superior operational decisions,” though it still requires human supervision.
Trump’s State of the Union address largely skips AI
For all the AI investments the President has been taking credit for this term, he said surprisingly little about the technology on Tuesday.
US government to meet with robot-makers as China competition intensifies
The Department of Commerce is convening American robotics companies on March 10 to discuss how to bolster the domestic industry and thwart Chinese competition.
Anthropic eases AI safety restrictions to avoid slowing development
Anthropic’s previous policy meant that if AI reached a certain threshold, the company would stop training it until it could be certain the AI would be safe.
Energy
Leah Millis/File Photo/Reuters
Mike Blake/ReutersSierra Club activists during a protest in 2010. Henry Romero/Reuters.
The problem with Trump’s data center power plan
Trump’s plan to hold down rising power prices associated with data centers could waste a massive investment opportunity.
Leah Millis/File Photo/ReutersUS solar manufacturers protected by tariffs
The tariffs provide a new degree of trade protection against Chinese competitors.
Mike Blake/ReutersThe Sierra Club has a plan to fight Trump — and fix itself
The head of the largest US green group, which has been rocked by internal strife, said coalitions around social justice issues are key to fighting Trump’s climate rollbacks.
Sierra Club activists during a protest in 2010. Henry Romero/Reuters.Gulf
US Navy/Mass Communication Specialist Seaman Daniel Kimmelman/Handout via Reuters
Gulf states bet on AI investment to secure US backing
As the Gulf waits for Trump’s next move on Iran, amid a prodigious buildup of US forces in the region, the argument for AI-as-protection is an untested one.
US Navy/Mass Communication Specialist Seaman Daniel Kimmelman/Handout via ReutersKuwait plans new citizenship law following crackdown
Kuwait’s authorities recently stripped at least 50,000 people of their nationality, claiming they obtained it illegitimately.
Bahrain hit by another credit downgrade
The government set out plans to tackle the situation, including a corporate income tax from 2027.
Saudi relaxes rules for foreign companies to establish headquarters in the country
Saudi Arabia began blocking foreign companies without a regional headquarters in the kingdom from bidding for government contracts two years ago, but it’s now becoming more flexible.
Finstreet sees UAE as crossroads in private capital boom
The fintech startup is hoping to tap into $600 billion in private assets seeking exits across Asia, Europe, and the Middle East, its CEO told Semafor.
Africa
Philimon Bulawayo/Reuters
Governor of the Central Bank of Nigeria Olayemi Cardoso. Brendan Smialowski/AFP via Getty Images.
Zimbabwe bans all raw mineral exports
Harare said the decision was in the “national interest” to promote local processing of minerals to add more value within the country.
Philimon Bulawayo/ReutersNigeria’s cautious interest rate cut surprises economists
Slowing price rises and higher foreign exchange reserves had prompted predictions of a larger rate cut.
Governor of the Central Bank of Nigeria Olayemi Cardoso. Brendan Smialowski/AFP via Getty Images.Senegal, IMF fail to strike lending deal as debt mounts
“Fundamental differences” remain between the two sides, Senegal’s finance minister said, as the talks are set to continue.
US Republicans demand protection for Christians in Nigeria
They recommend a bilateral security agreement, targeted sanctions, and visa restrictions in a new report.
How the Russia-Ukraine war came to Africa
Ukraine has said roughly 1,400 Africans from nearly 40 countries are fighting on the Russian side, though experts believe the numbers are higher.
Spiro fuels electric vehicle expansion in Africa
The Dubai-headquartered motorcycle manufacturer raised $50 million from the continent’s trade finance bank.
Security
Kiyoshi Ota/Pool via Reuters
Majid Asgaripour/WANA via Reuters
Ricardo Arduengo/Reuters
Japan PM vows defense shakeup over China tensions
Japanese Prime Minister Sanae Takaichi sparked a diplomatic dispute with Beijing last year by saying Tokyo could defend Taiwan if China were to invade.
Kiyoshi Ota/Pool via ReutersTrump issues 15-day warning to Iran on nuclear deal
The US president warned that if Iran does not agree to a deal, “it’s going to be unfortunate for them.”
Majid Asgaripour/WANA via ReutersUS ups pressure on Iran with huge air power assembly
Two aircraft carriers and dozens of land-based planes have moved to the Gulf, enough to wage what experts said could be a sustained war against Iran.
Ricardo Arduengo/Reuters Media
Paul Morigi/Getty Images for Semafor
BBC News CEO who resigned over edit of Trump speech rejects charge of ‘institutional bias’
In her first interview since she left the BBC, Deborah Turness said at Semafor’s Restoring Trust in Media summit that it was her choice to resign.
Paul Morigi/Getty Images for SemaforFCC Chair Brendan Carr praises Bari Weiss’ CBS
“I think they’re doing a great job,” Carr said at Semafor’s Restoring Trust in Media event Wednesday.
Washington Post editor recounts layoff pain, pledges to take paper to profitability
“Great journalism is central, but the journalism alone isn’t enough.”
Crockett escalates her war on the press
The Texas Senate hopeful’s operation ejected one reporter from an event and called the Capitol Police on another, sources told Semafor.
Politico is launching in Australia
The company is preparing to launch a Canberra Playbook newsletter before the next parliamentary cycle later this year, Politico’s CEO told Semafor.
CEO Signal
Courtesy of Port of Long Beach/Joey Pfeifer/Semafor
Courtesy of Calm/Joey Pfeifer/Semafor
Courtesy of AstraZeneca/Joey Pfeifer/Semafor
Why the Port of Long Beach is betting that US imports will continue to grow
Noel Hacegaba aims to handle twice as many containers, even as trade tensions mount.
Courtesy of Port of Long Beach/Joey Pfeifer/SemaforCalm’s CEO on the mental health struggle at the top of big companies
David Ko sees stress and sleep deprivation taking a toll on executives’ decision-making.
Courtesy of Calm/Joey Pfeifer/SemaforAstraZeneca’s CEO on competing in the new world order
Pascal Soriot says Europe “cannot be naive” about the rivalry with the US and China.
Courtesy of AstraZeneca/Joey Pfeifer/SemaforAD