Category: Semafor

Kenya is eyeing around $600 million in emergency funds from the World Bank in a bid to soften the impact of the Iran war, which is upending economies across the continent. The East African nation is particularly vulnerable given it imports the vast majority of its fuels from the Gulf. ...

BP signed a natural gas exploration agreement with Venezuela, the latest sign of surging investor appetite in the Latin American nation. The deal follows similar ones with Italy’s ENI and Spain’s Repsol as Caracas seeks to revive fossil fuel production in the country, home to the world’s largest stated crude ...

Judah’s view For more than five decades, Abu Dhabi sat at the table that shaped global energy markets. It helped build OPEC into the most consequential commodity cartel in history, endured its internal tensions, and absorbed its quota constraints. On May 1, that chapter ends. The Iran war was a ...

“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. Schulman, who came out of retirement six months ago to lead the $200 billion telecoms company, reveals that he initially turned the job down — twice. But ...

The US indicted a Mexican governor for drug trafficking, dealing a blow to Mexico’s governing party and risking a major diplomatic rift. Washington accused Rubén Rocha Moya and other officials, including a senator, of protecting the Sinaloa Cartel in exchange for bribes and electoral support. The indictment puts Mexican President ...

Goldman Sachs stopped its bankers in Hong Kong from using Anthropic’s AI models, in the latest sign of expanding US-China tech tensions. The American startup’s chatbots are banned in mainland China, and Goldman’s move suggests US AI firms could increasingly treat Hong Kong as off-limits as well, the Financial Times ...

The price of oil crept back up on Wednesday after US President Donald Trump rejected Iran’s proposal to open the Strait of Hormuz and defended his maritime blockade. Trump met with a group of energy executives on Tuesday to discuss how to minimize impacts from the war as the blockade ...

US President Donald Trump discussed a possible, brief Ukraine ceasefire in a lengthy phone call with Russian President Vladimir Putin on Wednesday. The truce, poised to coincide with Russia’s Victory Day holiday on May 9, would come several weeks after Kyiv and Moscow negotiated a ceasefire around Orthodox Easter, though ...

France announced a plan to phase out fossil fuels completely by 2050. While other legislatures have similarly ambitious aims — the EU and UK both plan to reach net zero by 2050, which functionally requires ending fossil fuels. What is new is the granularity: The roadmap specifically targets an end ...

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. Big Tech has propped up the US stock market — and in many ways, the US economy writ large — in the last year, but investors ...