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Semafor

@semafor.com
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Semafor @semafor.com · 3h
In Indonesia, job creation has largely stalled in high-skilled sectors; India has seen college graduate numbers far outpace new, available jobs; and China’s record number of university leavers has driven youth unemployment up to 18.9%. Read more: www.semafor.com/article/10/0...
semafor.com
Asian giants face looming graduate job crisis
The lack of jobs for university leavers in Indonesia, India, and China is creating both short- and long-term challenges for governments.
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Semafor @semafor.com · 3h
Asia’s most populous countries are grappling with a graduate employment crisis, with huge numbers of young people entering job markets that lack roles to absorb them. www.semafor.com/article/10/0...
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Semafor @semafor.com · 3h
The UK plans to accelerate efforts to strengthen relations with the EU, just as the bloc is seeking ways to smooth the ground for potential new entrants to join. www.semafor.com/article/10/0...
semafor.com
UK seeks to strengthen ties with the EU
British Prime Minister Andy Burnham plans to launch a plan to rebuild ties with Brussels at a summit in November.
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Semafor @semafor.com · 4h
Higher oil prices have largely offset lower export volumes, lifting revenue above prewar estimates, but spending is set to rise faster. Read more from Matthew Martin: www.semafor.com/article/10/0...
semafor.com
Saudi Arabia sees deeper budget deficits ahead
Higher oil prices have largely offset lower export volumes, lifting revenue above prewar estimates, but spending is set to rise faster.
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Semafor @semafor.com · 4h
Saudi Arabia expects wider budget deficits for several years as it ramps up spending to support growth in the face of regional conflict. www.semafor.com/article/10/0...
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Semafor @semafor.com · 4h
After an emergency landing of a flydubai flight to Tel Aviv brought an unprecedented number of Israelis onto Saudi soil, the incident is stirring speculation that the crisis could create an opening for formal ties. www.semafor.com/article/10/0...
semafor.com
Israelis in Saudi after attempted hijacking spark normalization debate
A widely shared video showed a woman in a niqab tending to passengers, challenging stereotypes that conservative Muslims are innately hostile to Jews.
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Semafor @semafor.com · 5h
Tim writes: I don’t see any signs that Project Kilby is fundamentally in jeopardy: A 20-year offtake deal with Microsoft is about as bankable as a power project can get. Read more: www.semafor.com/article/10/0...
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Semafor @semafor.com · 5h
The project is set to use nearly 3 gigawatts of “behind-the-meter” gas turbines — that is, unconnected to the state grid — to power a massive Microsoft data center in West Texas. But the final investment decision could be pushed to 2027 following a moratorium on new data center permits.
semafor.com
Exclusive: Texas politics could delay investment decision for huge Chevron data center
Project Kilby is moving forward while grappling with the public AI backlash.
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Semafor @semafor.com · 5h
🟡 NEW: Texas state politics could delay the final investment decision on one of the US’ largest new data center projects, Project Kilby, a joint venture between Chevron and the newly formed energy project developer Joulent. www.semafor.com/article/10/0...
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Semafor @semafor.com · 5h
AI firm AIQ, which counts the Abu Dhabi oil giant as its largest customer and shareholder, has gone from a nice-to-have before the conflict to a source of crucial real-time insight into drilling, production, and facilities management. www.semafor.com/article/10/0...
semafor.com
AI firm AIQ pilots new tools for oil patch
Six months of war and AI fever have added urgency to the rollout of Genesis, an operating system AIQ is pitching to energy companies.
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Semafor @semafor.com · 6h
Artisan Partners, a top-10 UBS shareholder, is urging the bank to leave Switzerland over worries that the bank won’t be able to compete with US rivals if it has to raise new capital. www.semafor.com/article/10/0...
semafor.com
UBS shareholder pushes for Swiss exit
“There is no compelling reason for UBS to remain a Swiss company,” Artisan Partners wrote Wednesday.
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Semafor @semafor.com · 6h
Liz writes: The case for boutiques hasn’t disappeared — there will always be a place for independent advice from talented bankers — but the ground has shifted. By one recent estimate, $1.2 trillion needs to be raised just to fund the AI buildout. Read more: www.semafor.com/article/10/0...
semafor.com
View: Where are Wall Street’s big egos today?
The ranks of the independent advisory boutique now seem like so much ego detritus.
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Semafor @semafor.com · 6h
Where are Wall Street’s big egos today? asks Liz Hoffman. Read her full view: www.semafor.com/article/10/0...
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Semafor @semafor.com · 7h
Chinese tech giants DeepSeek and Huawei have announced a partnership to develop semiconductor software, underlining how China’s leading tech companies are working to reduce the country’s reliance on US chipmakers and challenge American AI dominance. www.semafor.com/article/10/0...
semafor.com
Deepseek and Huawei partner to develop AI software
The move underlines how China’s leading tech companies are working to reduce their reliance on US chipmakers and challenge American AI dominance.
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Semafor @semafor.com · 7h
If he runs, Rep. Maxine Waters, D-Calif., the top Democrat on the committee since 2013, could see it as an about-face. Casten, 54, privately told Waters, 88, he was not planning on running. Read more from Nicholas Wu: www.semafor.com/article/10/0...
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Exclusive: Casten drums up support for Financial Services bid
Rep. Sean Casten, D-Ill., has quietly asked Democrats in recent weeks to support him in a potential bid for the top position on the House Financial Services Committee, according to people familiar…
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Semafor @semafor.com · 7h
🟡 NEW: Rep. Sean Casten has quietly asked Democrats in recent weeks to support him in a potential bid for the top position on the House Financial Services Committee. www.semafor.com/article/10/0...
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Semafor @semafor.com · 8h
🟡 NEW: The UAE is pushing governments and private financial institutions to drastically scale up investment in global water infrastructure. www.semafor.com/article/10/0...
semafor.com
Exclusive: UAE pushing for more investment in global water infrastructure
Despite attacks by Iran on desalination plants this year, the UAE hasn’t experienced a single day of water supply cuts.
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Semafor @semafor.com · 8h
Trump signed the sanctions package into law last month. A longtime priority of one of his most loyal allies, the late Sen. Lindsey Graham, the legislation gives the administration until Oct. 18 to decide whether to sanction countries up to 100% over their use of Russian oil and gas. Read more:
semafor.com
US trade representative declines to commit to imposing new Russian sanctions
Whether to impose the levies ‘is for the president to decide,’ Jamieson Greer said on the sidelines of the G20 trade ministerial.
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Semafor @semafor.com · 8h
US Trade Representative Jamieson Greer declined to commit to imposing recently enacted Russian sanctions, saying that officials plan to “name names” this month but it’s ultimately President Donald Trump’s decision whether to enact the levies. www.semafor.com/article/10/0...
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Semafor @semafor.com · 9h
Canada dials up trade diversification efforts: As the US hosts G20 trade ministers in Wisconsin, Canada is taking the opportunity to strengthen its ties to other countries. www.semafor.com/article/10/0...
semafor.com
Canada dials up trade diversification efforts
As the US hosts G20 trade ministers in Wisconsin, Canada is taking the opportunity to strengthen its ties to other countries.
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Semafor @semafor.com · 9h
Read more from Nicholas Wu: www.semafor.com/article/10/0...
semafor.com
Democrats’ hopes rise in Texas
Democrats are even feeling optimistic about deep-red seats.
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Semafor @semafor.com · 9h
Democrats are feeling newly optimistic about Texas, even in deep-red seats. Polls shared with Semafor show Democratic candidates running surprisingly competitively in the 9th and the 10th Congressional Districts. www.semafor.com/article/10/0...
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Semafor @semafor.com · 10h
Read more from Shelby Talcott: www.semafor.com/article/10/0...
semafor.com
Inside Trump’s red-state travel swing
Trump officials hope to turn out low-propensity voters.
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Semafor @semafor.com · 10h
Trump’s decision to kick off a month of midterm campaign travel with rallies in red states like Oklahoma and Alabama has confounded some Republicans, while those involved in the plans argue there’s a strategy behind them. “I don’t really buy it,” one person close to the White House told Semafor.
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Semafor @semafor.com · 10h
“Spending remained strong in August, but income growth is not keeping up,” Navy Federal Credit Union’s chief economist told Bloomberg, raising fears that economic activity could stall if inflation readings continue to come in above the Federal Reserve’s 2.0% target. Read more:
semafor.com
US economy shows resilience on solid consumer spending, growth data
Cooler-than-expected August inflation data and strong consumer spending gave markets a boost before a frantic final hour of trading erased gains.
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Semafor @semafor.com · 10h
US economy shows resilience on solid consumer spending, growth data www.semafor.com/article/09/3...
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Semafor @semafor.com · 11h
OpenAI has accused Moonshot of wide-scale distillation to improve its own models. www.semafor.com/article/09/3...
semafor.com
OpenAI accuses top Chinese lab of distilling models
OpenAI alleged that Chinese competitor Moonshot used wide-scale distillation amidst rising AI-race tensions between Washington and Beijing.
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Semafor @semafor.com · 11h
The EU and Canada will finalize their expansive new partnership at a Montreal summit next month. www.semafor.com/article/09/3...
semafor.com
Canada, EU to finalize partnership next month
The partnership pact boosts Canadian Prime Minister Mark Carney’s efforts to shore up cooperation between the world’s “middle powers.”
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Semafor @semafor.com · 12h
Read more from Burgess Everett, Eleanor Mueller, and Nicholas Wu’s conversations with Senate Republicans and a White House spokesperson: www.semafor.com/article/10/0...
semafor.com
‘The No. 1 thing’: Republicans agonize over their economic inaction
As senators leave Washington before the midterms, many worry failure to address voters’ economic concerns could cost them control of Congress.
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Semafor @semafor.com · 12h
“If we had done enough, our constituents wouldn’t be continuing to raise it, and it wouldn’t be the No. 1 thing that everyone’s campaign is talking about,” Sen. Lisa Murkowski told Semafor.
Thaier Al-Sudani/Reuters
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Semafor @semafor.com · 12h
“If you’re not worried, you’re living in a cave,” Sen. Jim Justice told Semafor. “There’s no question that there’s people out there that are hurting.”
Kylie Cooper/Reuters
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Semafor @semafor.com · 12h
As Senate Republicans scatter across the country to defend their majority, many agonize over the fear that their party didn't do enough to address voters economic concerns. www.semafor.com/article/10/0...
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Semafor @semafor.com · 12h
One industry figure suggested a ban was “getting pretty close to movement.” Top Republicans have called on Trump to “stop the bleeding” as soaring prices rattle the party a month before the midterm elections, though some cabinet members, including the energy secretary, have argued against a ban.
semafor.com
White House huddles on possible diesel export ban: Report
Top Republicans have called on Trump to “stop the bleeding” as soaring prices rattle the party a month before midterm elections.
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Semafor @semafor.com · 12h
White House huddles on possible diesel export ban: Report www.semafor.com/article/09/3...
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Semafor @semafor.com · 13h
David writes: As they prepared for Republicans to drop another billion dollars of ads on their heads this summer, Democrats passed around fresh advice on gender politics. Read more from his view: www.semafor.com/article/09/3...
semafor.com
View: How Democrats learned to stop worrying about gender politics
As they prepared for Republicans to drop another billion dollars of ads on their heads this summer, Democrats passed around fresh advice on gender politics.
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Semafor @semafor.com · 13h
How Democrats learned to stop worrying about gender politics, according to David Weigel: www.semafor.com/article/09/3...
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Semafor @semafor.com · 13h
Reed writes: While OpenAI’s new tool, dots, stole much of the spotlight at its annual developer day Tuesday, it was the change to its pricing tiers that says more about the company and the AI industry. OpenAI’s $200-per-month plan now comes with half the tokens. Read more:
semafor.com
View: OpenAI’s new pricing tiers highlight compute bottleneck
Offering always-on, agentic assistant tools will cost OpenAI.
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Semafor @semafor.com · 13h
OpenAI's cost creep is another indication there is a severe compute bottleneck in AI, argues Reed Albergotti. Read his full view: www.semafor.com/article/09/3...
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Semafor @semafor.com · 14h
Large data centers can consume up to 5 million gallons per day; a recent study modelling water use in African data centers found that ChatGPT-4 used up to 60 liters of water — or a standard washing machine cycle — to produce a 10-page paper. Read more: www.semafor.com/article/09/3...
semafor.com
Africa’s data centers prompt water consumption fears
A petition by civil society groups to South African authorities highlighted concerns over a lack of awareness around data center water consumption.
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Semafor @semafor.com · 14h
Concerns are rising in Africa about the potential water use by data centers. While water usage by data centers is a global problem, Africa is particularly vulnerable to the effects of climate change. www.semafor.com/article/09/3...
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Semafor @semafor.com · 14h
South Africa summoned US ambassador Leo Brent Bozell III again, deepening a diplomatic rift with Washington. www.semafor.com/article/09/3...
semafor.com
Pretoria summons US ambassador over criticism
Leo Brent Bozell III was first summoned in March over his remarks on the “Kill the Boer” chant.
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Semafor @semafor.com · 15h
Burkina Faso opened a refinery to process the country’s gold reserves domestically. www.semafor.com/article/09/3...
semafor.com
Burkina Faso opens first gold refinery
The nation is among Africa’s largest gold producers, but has struggled to regulate its informal mining sector.
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Semafor @semafor.com · 15h
Aliko Dangote formally kicked off construction of a $16 billion oil refinery in Kenya, aiming to replicate the success of his plant in Nigeria. www.semafor.com/article/09/3...
semafor.com
Dangote breaks ground on $16B Kenya refinery
The project aims to replicate the success of Dangote’s plant in Nigeria, which has turned the country into a fuel-producing powerhouse amidst a global energy crisis.
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Semafor @semafor.com · 01/10/2026
Hajj, the once-in-a-lifetime pilgrimage required of every able Muslim, has been bundled by Saudi Arabia into a single electronic agreement on one government platform. www.semafor.com/article/09/3...
semafor.com
Saudi bundles up Hajj services on one platform
Some 1.7 million people made the trip in 2025, with spots rationed by country at roughly one per 1,000 Muslims.
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Semafor @semafor.com · 01/10/2026
Singapore’s Temasek will open its first offices in the Gulf early next year, joining a growing list of global investors expanding into the region despite ongoing conflict. www.semafor.com/article/09/3...
semafor.com
Singapore’s Temasek to open Gulf offices despite war uncertainty
Temasek will use Abu Dhabi and Riyadh as hubs for investing in the Middle East and bringing portfolio companies to the region
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Semafor @semafor.com · 01/10/2026
Meanwhile, Scott essentially guaranteed that Republicans will retain the Senate majority, citing improving GOP enthusiasm, a large number of toss-up races, and a huge spending advantage. He predicted his party could even pick up seats. Read more from Burgess Everett:
semafor.com
Exclusive: Schumer embraces Trump’s campaign travel, puts Senate fight at ‘50/50’
The Senate minority leader expressed concerns about Republicans’ money advantage in an interview with Semafor.
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Semafor @semafor.com · 01/10/2026
🟡 SCOOP: Senate Democratic Leader Chuck Schumer and GOP campaign chair Tim Scott have something in common: They’re both really excited for President Donald Trump to hit the campaign trail. “When Trump travels, he hurts people,” Schumer told Semafor. www.semafor.com/article/09/3...
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Semafor @semafor.com · 01/10/2026
Israel is probing whether the stabbing of a pilot by his co-pilot on a FlyDubai plane full of Israelis was an attempted terror attack. www.semafor.com/article/09/3...
semafor.com
Israel probes if FlyDubai pilot stabbing was attempted terror attack
The flight from Dubai to Tel Aviv made an emergency landing in Saudi Arabia after passengers helped avert a disaster.
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Semafor @semafor.com · 01/10/2026
Were Andy Burnham to support a campaign to reenter the bloc, he would draw a significant dividing line between his Labour Party and rival Reform UK. Read more: www.semafor.com/article/09/3...
semafor.com
UK PM Andy Burnham floats possibility of rejoining EU
Brexit remains politically divisive in the UK, despite growing numbers of voters voicing frustration over the lasting impacts of leaving the EU.
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Semafor @semafor.com · 01/10/2026
UK’s PM Andy Burnham floated the possibility of rejoining the EU, an issue that remains politically divisive despite growing numbers of voters voicing frustration over the lasting impacts of Brexit. www.semafor.com/article/09/3...
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