Category: Semafor

Countries globally raced to boost domestic fossil fuel reserves despite US claims that the Iran war was over. Australia said it would spend upwards of $7 billion to bolster fuel security, while Norway started production in a long-forgotten oil field, a major boost for Europe’s energy independence. QatarEnergy, meanwhile, canceled ...

US President Donald Trump paused the effort to escort ships through the Strait of Hormuz, a day after it began. “Project Freedom” saw two ships pass through the waterway, while hundreds remain stranded. Trump said the operation was on hold because “Great Progress” had been made towards a deal, and ...

Southeast Asian leaders, whose countries are among those hardest hit by the economic fallout from the Iran war, gathered for a summit amid growing frustration with the US. Washington has long been the ally of choice for the region, which has seen strong economic growth in previous years thanks largely ...

The EU is making a “final push” to hammer out trade differences with the US, but hawkish voices argued for an aggressive response. President Donald Trump threatened last week to increase tariffs on European vehicles, accusing the bloc of reneging on an agreed deal. In response, French President Emmanuel Macron ...

Global middle powers moved to strengthen their alliances in a bid to shield their economies from US unreliability and Chinese aggression. Australia has recently reached trade agreements with nations as far afield as India and Peru as it vies to reduce its reliance on the world’s two biggest economies. And ...

The Iran war and the AI buildout are driving up concerns over the prospect of an energy squeeze in the US. The country has been a net energy exporter since 2019, and fuel exports have spiked since the conflict led to shortages around the world. But rising domestic gas prices ...

Global energy prices and supplies still have room to get much worse, executives and analysts warned. A “great repricing is underway,” Semafor’s energy editor wrote, as experts raise their forecasts for oil and gas prices — “a sign that the gravity of the situation is finally landing.” Global oil reserves ...

The US sought to downplay the Iran war’s economic impact and recent flare-ups in the Strait of Hormuz. The Pentagon on Tuesday insisted Washington’s ceasefire with Tehran was holding after the countries clashed in the waterway; US President Donald Trump characterized the attacks as a “skirmish.” Trump also sought to ...

AI is extending its reach on Wall Street as companies exhibit strong demand for the tech and reshape their workforces around it. Anthropic on Tuesday unveiled a new slate of agents aimed at handling financial services tasks like reviewing balance sheets and drafting pitch decks; market intelligence stocks subsequently fell. ...

The UK staff of Google DeepMind voted to unionize amid concerns of the company’s deal with the US Department of Defense. The Pentagon reached agreements with seven AI companies, including Google, for “lawful use” of their tech in the military; Anthropic, which feuded with the Pentagon over use of its ...