January 31, 2024
Golden Arches in Moscow
1 US ‘not looking for a war with Iran’
2 What are US troops doing in Jordan?
3 OPINION America Is Subsidizing Iran’s Fight Against America
4 US Layoffs increasing
5 China-US Cold War
1/31/1990 First McDonald’s opens in Soviet Union
see ad astra on x @greg_loving
1 US ‘not looking for a war with Iran’ after deadly attack, White House says
“We are not looking for a war with Iran,” US National Security Council spokesman John Kirby told NBC’s Today Show. But he added: “We’ll keep looking at the options . . . We want these attacks to stop.” Kirby’s comments came after Iran sought to distance itself from the deadly attack, with both sides appearing keen to avoid a further escalation.
FT
2 What are US troops doing in Jordan?
For years, Arab and western officials have kept a watchful eye over an arid tract of land in a remote corner of the Middle East, where US troops, Iran-linked militias and the remnants of Isis all operate. Tehran-backed militants sit at checkpoints and makeshift bases along the Baghdad-Damascus highway, which they long ago seized — the centre of a highly prized smuggling network in the border triangle, used by militants and criminal gangs to smuggle drugs and weapons. On Sunday, this corner between Jordan, Syria and Iraq became the latest flashpoint in the widening regional hostilities that have drawn the US back into combat. A drone attack on a small US base in north-east Jordan known as Tower 22 killed three US soldiers and injured dozens more, becoming the first such assault to kill American troops since the Israel-Hamas war began. Washington blamed “radical Iran-backed militant groups” and vowed to hold those responsible to account. “That area has long been a tinderbox,” said a senior western diplomat. “We’ve always been worried about US and Iranian forces getting into direct confrontation there, whether by accident or on purpose.”
The US has about 3,000 troops across Jordan, a longtime ally. But American troops are at their most vulnerable in Iraq and Syria, where they are surrounded by hostile factions. As part of the US-led coalition fighting Isis, the US has maintained 2,500 troops in Iraq and 900 more in Syria, mostly in the Kurdish-controlled north-east.
FT
3 OPINION America Is Subsidizing Iran’s Fight Against America
President Joe Biden has promised to “hold all those responsible to account” after a series of weekend attacks against American troops in the Middle East, blaming Iranian-backed militias. The response, he said, would come “at a time and in a manner [of] our choosing.” Undoubtedly, the Pentagon will present the White House with military options. But there’s another manner in which to respond: Close the petrodollar spigot. Over the last year or so, Iran has been able to boost its oil production to a five-year high of about 3.2 million barrels a day, earnings billions of dollars in the process. And that’s despite draconian US sanctions precisely targeting, at least on paper, Iran’s oil industry. The extra money is bankrolling the country and, by extension, its proxies in Syria, Iraq, Yemen and Lebanon. How much extra money is rolling in from oil? We cannot be certain, but my back-of-the-envelope arithmetic suggests Iran pocketed the non-trivial sum of more than $10 billion last year thanks to its higher oil output.
Bloomberg
4 US Layoffs increasing
PayPal is cutting about 9% of its global workforce—or roughly 2,500 jobs. UPS plans to eliminate 12,000 jobs—saving $1 billion—and call workers back to the office five days a week. UBS let go a group of senior managers, while Nomura is dismissing about 60 staffers. Nasdaq plans to cut hundreds of jobs as it integrates Adenza.
Bloomberg
5 China-US Cold War
China to launch 3rd aircraft carrier
China stakes global dominance in race to build intelligent ports
US Wants Cloud Firms to Reveal Foreign Clients in China AI Race
China challenges the west for driverless car supremacy
To challenge China’s influence in Africa, US borrows from belt and road playbook
Missing Boxes, an Email From China: How a Chip Shipment Sparked a U.S. Probe
China approves 14 large language models and enterprise applications, as Beijing favours wider AI adoption across industries
BYD Misses Earnings Estimates as Global EV Demand Softens
1/31/1990 First McDonald’s opens in Soviet Union
The Soviet Union’s first McDonald’s fast food restaurant opens in Moscow. Throngs of people line up to pay the equivalent of several days’ wages for Big Macs, shakes and french fries.
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