Traders placed bets totalling more than $7 billion right before major US announcements relating to the Iran war, prompting accusations of rampant corruption in Washington. The “highly unusual” trades have added to calls for regulators to step up their scrutiny of senior US government officials, including President Donald Trump. Since ...
Category: Semafor
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Brazil looks to lengthen weekend and improve worker conditionsBrazil looks to lengthen weekend and improve worker conditions
Brazil moved to cut its working-week to five days from the current six, becoming the latest Latin American country to push for improved worker conditions. The region has some of the world’s longest working hours, with laborers there often clocking more than 2,000 hours a year compared to around 1,700 ...
Mali attacks raise alarm bells in WashingtonMali attacks raise alarm bells in Washington
The News A sweeping jihadist offensive across Mali is raising concerns in Washington about the security of the US embassy in Bamako and the safety of Americans in the West African nation. Last month, Al Qaeda-affiliated group Jama’at Nusrat al-Islam wal-Muslimin (JNIM) and the separatist Azawad Liberation Front (FLA) launched ...
South Africa’s top court revives Ramaphosa impeachment probeSouth Africa’s top court revives Ramaphosa impeachment probe
The News South Africa’s top court ordered parliament to restart an impeachment inquiry into President Cyril Ramaphosa, ruling that lawmakers acted unlawfully when they blocked the process in 2022. The majority ruling injects fresh uncertainty into a multiparty coalition government and marks the first time in post-apartheid South Africa a ...
Jumia leans on China imports as Nigeria becomes top marketJumia leans on China imports as Nigeria becomes top market
The News African e-commerce company Jumia plans to maintain a strategy that has ramped up inventory supply from Chinese vendors and made Nigeria its largest market, to achieve profitability at the end of next year, CEO Francis Dufay told Semafor. Jumia reported 87% year-on-year growth in the volume of items ...
US awaits Iran response to truce plan as tensions flare in HormuzUS awaits Iran response to truce plan as tensions flare in Hormuz
The US and Iran are getting closer to an agreement to temporarily end hostilities, according to Pakistani officials, even as tensions flared in the Strait of Hormuz. Tehran said negotiators were discussing a one-page plan to reopen Hormuz for a month, during which time they would try to reach a ...
Businesses warn of lran war denting consumer sentimentBusinesses warn of lran war denting consumer sentiment
Major companies on Thursday warned that consumers globally will start pulling back on purchases, challenging the narrative of resilient spending despite the Iran war. Whirlpool pointed to a “recession-level industry decline,” caused in part by shoppers pulling back on big-ticket buys. Although fast food sales rose, McDonald’s warned of consumer ...
Activists target massive SpaceX IPOActivists target massive SpaceX IPO
Elon Musk is poised to have “virtually unchecked executive authority” when SpaceX goes public this year, Reuters reported. Documents show SpaceX is looking to limit investors’ ability to challenge company management, as the rocket maker sets its sights on massive projects. SpaceX, set to be the largest IPO in history, ...
China’s nuclear thinking has shiftedChina’s nuclear thinking has shifted
The swift buildup of China’s nuclear arsenal bucks conventional wisdom on the limits of Beijing’s ambitions. Mao Zedong called for building a small nuclear force, but Beijing’s approach to the weapons is not “as philosophically unique as once thought,” China nuclear expert Tong Zhao wrote in China Books Review, citing ...
Rubio eases US-Vatican tensions in meeting with popeRubio eases US-Vatican tensions in meeting with pope
US Secretary of State Marco Rubio looked to ease Washington’s rocky relationship with the Vatican on Thursday in an amicable meeting with Pope Leo XIV. The talks followed US President Donald Trump’s repeated attacks on the leader of the Catholic Church; just three days ago, Trump accused Leo of “endangering ...