Category: Semafor

The News A group of holdout creditors doomed Spirit Airlines’ government bailout, according to government officials and other people familiar with the matter.  Ares, Citadel, and distressed-debt specialist Cyrus were among the senior most Spirit creditors that remained steadfastly opposed to a government deal that would see their repayment dinged ...

The News Bernie Sanders isn’t done yet shaping the Democratic fields in must-win Senate races. After Graham Platner elbowed Gov. Janet Mills out of the way in Maine’s Democratic primary — with a big boost from Sanders’s early endorsement — the Vermont Independent is forging ahead in two more primaries ...

The Musk v. Altman trial continues to be a reminder of why tech folks don’t generally sue each other. Lawsuits reveal a lot. It’s happened several times already in the trial that began with opening statements Tuesday, but perhaps the biggest revelation came on the stand Thursday, when plaintiff Elon ...

In recent months, a slew of top executives at Boston Dynamics have left the company, which Hyundai bought a majority stake in back in 2021. It’s notable timing: The robotics company is working toward an IPO and talking about opening up new production facilities. CEO Robert Playter retired in February, ...

Alexis’s view China’s scrapping of tariffs on imports from 53 African countries, which takes effect today, is a soft power masterstroke. On the face of it, the policy marks a major market access opportunity for the continent, and positions Beijing as a trusted ally in stark contrast to Washington, which ...

Two new trade deals that come into effect today suggest a global rebalancing of commerce away from the US in response to President Donald Trump’s protectionist policies. A free trade deal between South America’s biggest trading bloc, Mercosur, and the EU came into force, and all but one African nation ...

Eli Lilly saw first-quarter profits double as sales of its weight-loss drug soared. GLP-1 drugs have changed not just the pharmaceutical industry — although they have, briefly making Novo Nordisk Europe’s biggest company by market capitalization — but also people’s health and habits. US obesity peaked in 2022 after decades ...

An AI model outperformed physicians at diagnosing in emergency room conditions, a study showed. ER diagnoses are challenging, characterized by limited information and little time, but high-stakes outcomes: A fever could be a seasonal flu, or it could be life-threatening sepsis. The researchers tested an OpenAI model, giving it medical ...

Chinese authorities doubled down on pledges to build independent AI capabilities, with one top official saying Beijing must “withstand any containment or suppression.” The remarks, taken alongside China blocking Meta’s acquisition of the AI startup Manus, point to Beijing’s growing focus on being able to wall itself off from foreign suppliers ...

Companies are racing to take advantage of government subsidies to replace aging elevators in China. The country’s early-2000s construction boom saw millions of buildings go up; now, hundreds of thousands of elevators are reaching the end of their useful life, and Beijing is offering financial support for an upgrade program. ...