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Intelligence for the New World Economy
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The World at a Glance
Updated 7:24am EDT
1
A Russian drone hit an apartment building in Romania, a NATO member state, sparking outrage across Europe.
2The EU fined one Chinese company and opened an investigation into a takeover bid by another for a German firm.
3Israel launched strikes on southern Beirut and expanded its military control over Gaza, exacerbating dire humanitarian conditions in both nations.
4African health authorities insisted the Ebola outbreak on the continent could be stopped, adding a vaccine would be ready by year-end.
5Oil prices fell and stocks rose on optimism that the US and Iran were nearing a lasting peace deal.
6Net immigration to the UK has fallen dramatically, though public understanding believes rates are still rising.
Iran deal awaits Trump, Tehran approval
The US and Iran neared a deal to extend their ceasefire and reopen the Strait of Hormuz, but Trump and Tehran are yet to sign off on it.
Evan Vucci/ReutersBlackstone’s VFS banks mega profits on African, Asian visa applicants
An investigation found VFS staff pressured to add costly auxiliary services for prospective travelers to Europe, UK.
VFS Global application center in Istanbul, Turkey. Murad Sezer/ReutersWhite House rejects ‘doomer view’ of economy
The Trump administration is struggling to sell the Iran war while oil prices fuel inflation.
Kylie Cooper/ReutersCompanies evaluate aggressive AI spending as costs pile up
Pitched partly as an avenue for businesses to save money, AI has sent IT costs soaring.
Chris J. Ratcliffe/ReutersCentral bank leaders warn of long-term inflation impact of Iran war
Traders are now betting on at least one US Federal Reserve rate increase this year.
Guglielmo Mangiapane/ReutersPentagon’s Wall Street push draws Democrats’ ire
Lawmakers are raising concerns about plans for an “Economic Defense Unit” first reported by Semafor.
Kevin Lamarque/ReutersEbola crisis could become worst on record
The global community is ‘on our back foot already,’ a former Biden official said of the virus response.
Gradel Muyisa Mumbere/Reuters
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Politics
Evan Vucci/Reuters
Mike Blake/Reuters 
Eric Lee/Reuters
Debatable: The scope of Trump’s new green card curbs
The administration has sent confusing signals about whether H-1B holders will get caught up in the new policy.
Evan Vucci/ReutersWhat’s next for Gretchen Whitmer?
The Michigan governor’s office says she won’t be president of Michigan State University.
Mike Blake/Reuters Republicans still stuck on party-line immigration bill
The so-called anti-weaponization fund “caught a lot of us off-guard,” said Sen. Deb Fischer, R-Neb.
Eric Lee/Reuters White House rejects ‘doomer view’ of economy
The Trump administration is struggling to sell the Iran war while oil prices fuel inflation.
Iran deal awaits Trump, Tehran approval
The US and Iran neared a deal to extend their ceasefire and reopen the Strait of Hormuz, but Trump and Tehran are yet to sign off on it.
Pentagon’s Wall Street push draws Democrats’ ire
Lawmakers are raising concerns about plans for an “Economic Defense Unit” first reported by Semafor.
Ebola crisis could become worst on record
The global community is ‘on our back foot already,’ a former Biden official said of the virus response.
New activist pressure to defeat retail crime bill
The Vera Institute of Justice and Dream.org are launching a new campaign to stop bipartisan legislation to crack down on organized retail crime.
Murphy takes on college sports deal
The Connecticut Democrat told Semafor that his primary worry is the bill’s proposed compensation caps for athletes.
Trump suggests he can ‘outwait’ Iran in negotiations
Trump signaled an extended timeline for peace talks with Iran, saying he is “not satisfied” with the current terms of negotiations.
Trump insistent on elusive ‘great deal’ in Iran
He told Semafor during a Cabinet meeting that “it’s got to be perfect.”
Business
Courtesy of Cisco/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/SemaforCompanies evaluate aggressive AI spending as costs pile up
Pitched partly as an avenue for businesses to save money, AI has sent IT costs soaring.
Child’s play for Japanese adults
The popularity of the toys, known as gacha gacha, comes as Japan’s population rapidly ages — the number of children has hit a fresh low.
Where are the customers’ hedges?
The future of commerce can’t possibly be a prediction market for whether someone will deliver me four kiwis.
Central bank leaders warn of long-term inflation impact of Iran war
Traders are now betting on at least one US Federal Reserve rate increase this year.
TechnologyChris J. Ratcliffe/Reuters 
Courtesy of Anthropic
Companies evaluate aggressive AI spending as costs pile up
Pitched partly as an avenue for businesses to save money, AI has sent IT costs soaring.
Chris J. Ratcliffe/ReutersAnthropic hits $965 billion valuation, surpassing OpenAI
The financing caps off a busy several months for the Claude maker.
Courtesy of AnthropicNvidia CEO to join board of elite Chinese university
The move reflects Huang’s desire to maintain links in China.
China tries to balances AI push with job displacement fears
China is trying to balance its society-wide AI push with mounting concerns over the tech’s disruptive socioeconomic effects.
Tech firms deepen Asia chip investments
Tech giants are deepening their investments in Asia’s chip sector as demand for compute explodes.
Elon Musk reportedly floats SpaceX, Tesla merger
Elon Musk has reportedly discussed merging SpaceX with Tesla, a deal that would give the world’s richest person even more control over his sprawling tech empire.
Energy
Luke MacGregor/Reuters
China Daily via Reuters
Stringer/Reuters
BP’s ousted chair to challenge accusations
Albert Manifold was abruptly removed from his position atop the oil major’s board this week.
Luke MacGregor/ReutersGlobal clean-energy trade reaches record high
New data suggest Donald Trump’s tariffs on the energy transitions sector did little to stifle clean energy trade.
China Daily via ReutersOil prices rise on fresh round of Iran-US airstrikes
But insurance rates for tankers passing the strait — the most important indicator of whether the waterway is “reopening” — haven’t budged.
Stringer/ReutersGulf
Khalil Ashawi/Reuters
Saudi Arabia pledges $1.5B aid package for Syria
The package is a major boost to Damascus, which is working to consolidate power and restart the economy after more than a decade of war.
Khalil Ashawi/ReutersFormer Qatari energy minister Abdullah Al Attiyah dies
Abdullah bin Hamad Al Attiyah was the architect of Qatar’s LNG industry, transforming the country into one of the world’s wealthiest nations.
Bahraini leader cultivates loyalty over crackdown on Iranian sympathizers
More than 1,000 Bahraini citizens have sent messages of support to King Hamad bin Isa Al-Khalifa in recent weeks.
Aramco offloads 50% stake in Malaysia refinery project
Aramco is transferring ownership to the country’s national oil company Petronas.
Bahrain suffers wartime trade slump
The value of imports slumped 17% and non-oil exports fell by 10%.
China
Nvidia CEO Jensen Huang arrives at a Meet-a-Claw event in Taipei
Kiyoshi Ota/Pool via Reuters
Maxim Shemetov/Reuters
Nvidia CEO to join board of elite Chinese university
The move reflects Huang’s desire to maintain links in China.
Nvidia CEO Jensen Huang arrives at a Meet-a-Claw event in TaipeiJapan-Philippines ties strengthen, thanks to China
The countries’ leaders formally elevated their relationship and agreed to start talks on a military intelligence sharing agreement.
Kiyoshi Ota/Pool via ReutersChina tries to balances AI push with job displacement fears
China is trying to balance its society-wide AI push with mounting concerns over the tech’s disruptive socioeconomic effects.
Maxim Shemetov/ReutersAfrica
Nigerian Vice President Atiku Abubakar. Pius Utomi Ekpei/AFP via Getty Images.
Chen Wei/Xinhua via Getty Images
Former Nigerian VP Atiku wins election nomination
Atiku Abubakar, who has sought the Nigerian presidency on six previous occasions, will represent the African Democratic Congress.
Nigerian Vice President Atiku Abubakar. Pius Utomi Ekpei/AFP via Getty Images.South Africa hikes key interest rate as Iran war drives inflation
The move positions South Africa at the vanguard of a small group of emerging markets hiking rates to cushion the impact of the Iran war.
Chen Wei/Xinhua via Getty ImagesUS Ebola center in Kenya runs into legal hurdles
The US and Kenya signed an agreement to set up an Ebola biocontainment center for Americans exposed to the virus.
Blackstone’s VFS banks mega profits on African, Asian visa applicants
An investigation found VFS staff pressured to add costly auxiliary services for prospective travelers to Europe, UK.
Africa’s tax push is clashing with the reality of its informal economies
Critics argue the measures could slow digital adoption and push more activity back toward cash-based channels.
Ghanaian artist El Anatsui dominates Frieze New York sales
‘LuwVor I,’ a sculpture crafted from aluminum, copper, and wire, sold for $2.2 million, more than double the next highest seller at the prestigious art fair.
Security
Ammar Awad/Reuters
Majid Asgaripour/WANA/Reuters
Anastasia Barashkova/File Photo/Reuters
Israel’s relations with Europe, UN erode
Israeli officials are set to be added to a UN blacklist of entities suspected of sexual violence in conflict zones.
Ammar Awad/ReutersUS, Iran launch fresh strikes, undermining peace talks
The American strikes were the second set this week, while Tehran said it targeted a US air base in the region.
Majid Asgaripour/WANA/ReutersRussia authorizes its central bank to shoot down drones
Russia authorized its central bank and other financial institutions to shoot down drones, as the country’s cities and infrastructure increasingly come under attack from Ukraine.
Anastasia Barashkova/File Photo/ReutersMedia
Bret 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.
Google’s Nick Fox on remaking its search engine
“It’s been clear that people don’t want incorrect information — and so that bedrock of trust and accuracy has served us well.”
CEO SignalCourtesy 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