Category: Semafor

The News A multibillion-dollar outsourcing agency used by European countries to process visa applications in Africa has amassed millions of dollars in profits from services that are often sold without proper disclosure to applicants, a new investigation alleges. VFS Global, which is majority owned by US asset manager Blackstone began ...

The pope’s tour through Africa last month cemented the continent as key to Catholicism’s future — but it is not even the fastest-growing form of Christianity there, and soon may not be the biggest. The number of Catholics in Africa grew about fivefold from 1975 to 271 million last year, ...

The growing global use of GLP-1 weight-loss drugs is forcing entire sectors beyond the pharmaceutical industry, from fashion to food, to adapt. Major clothing brands are increasingly designing their goods for “body fluctuation and ‘size volatility’,” The Business of Fashion reported, forcing a rethink of supply chains and inventory management. ...

Oil prices were back on the rise Thursday after the US and Iran traded a fresh round of airstrikes. Despite signals earlier in the week that negotiators were making progress toward a ceasefire, tensions are now escalating again, with Washington and Tehran deeply divided over potential future rules of transit ...

Global shipments of clean-energy products reached a record $479 billion in 2025, overcoming major headwinds to cross-border trade. After falling 7% between 2023 and 2024, trading volumes rose 1% this year, suggesting that US President Donald Trump’s tariffs on the energy transition sector — however frequently imposed and revised — ...

BP’s ousted chair said he intends to challenge accusations against him. Albert Manifold was abruptly removed from his position at the top of the oil major’s board this week over what the company said were “serious concerns” related to “governance standards, oversight, and conduct.” Subsequent reporting in the Financial Times ...

The European Central Bank warned US President Donald Trump’s policies could lead to a financial crisis, as inflation risks grow more urgent. The bank on Wednesday cited the war with Iran, coupled with Trump’s shifting trade positions that have “become a structural feature of the global environment.” Europe is bracing ...

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. Musk floated the idea just weeks before SpaceX, the satellite and rocket giant, is expected to launch its massive IPO on the Nasdaq, CNBC ...

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. A central bank branch in Russian-annexed Crimea was struck by a rocket Wednesday; a local official accused Ukraine of trying to destabilize Russia’s financial system. ...

Tech giants are deepening their investments in Asia’s chip sector as demand for compute explodes. Nvidia is planning to invest $150 billion annually in Taiwan; CEO Jensen Huang called the island the “epicenter” of the AI revolution, days after challenger AMD announced a $10 billion investment there. And Samsung is ...