Crypto News: War of words

Good morning. Donald Trump signals the US has "plenty of time" on Iran. The Pentagon is hooked on AI war machines. And, as St. Patrick's Day approaches, the Irish may paint Hollywood green. Listen to the day's top stories.

— Angela Cullen

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The war of words echoed continued hostilities with Iran, as Donald Trump warned Tehran to "watch what happens" and said the US has "plenty of time" to achieve its aims. But casualties are mounting and oil prices are still elevated. The US expanded a short-term waiver allowing buyers to purchase Russian oil already in transit, potentially freeing up 19 million barrels of crude and refined products in Asian waters. The bond market's "fear gauge" surged to a nine-month high while stocks steadied. Meanwhile, the basic assumptions that have underpinned hedging strategies for decades are coming undone.

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The fallout continues. A US military refueling plane crashed in friendly airspace in western Iraq, killing four of the six crew. Meta has paused part of its ambitious effort to expand internet service across Africa due to the war. As Washington continues to send weapons into the Middle East, officials in Asia are worried that prolonged fighting could redirect more American military resources away from their region. Israeli PM Benjamin Netanyahu said regime change would require an internal uprising, even as Iran's new leadership appears prepared to endure the onslaught. Meanwhile, war-rattled expats in Dubai may find lessons in how people in Hong Kong navigated turmoil in 2022. Follow the latest developments in our live blog.

On the trade front, the Trump administration began a fresh tariff probe into alleged forced-labor practices in 60 economies, including China, Mexico, the EU and Canada. It's the latest attempt to let the president enact new tariffs after existing measures expire in July. US and Chinese officials meet in Paris on Sunday and Monday to prepare for a late-March Trump-Xi Jinping summit in Beijing. The Chinese leader is heading to the negotiating table with a boost in bargaining power. Tariff-cheating is also running full throttle.

It's no secret that Silicon Valley billionaires are seething over the threat of more taxes and regulations. A nine-figure fund might offer them a way to reshape the state's politics in their favor. The project, California Renewal, would create an endowment-type entity to act across election cycles, financing political contributions through investment returns. By leveraging capital gains instead of individual donations to bankroll political campaigns, the endowment could also reduce the amount of donor information disclosed publicly.

The Big Take

Photographer: Enigmatriz

The US turned to Claude and other artificial intelligence systems to help shape its vision for AI warfare. In Iran that strategy is unfolding in real time. Here's how the Pentagon got hooked on AI war machines.

Big Take Podcast

Pentagon, Anthropic and the Road to AI War

Deep Dive: An Irish Night at the Oscars?

Photographer: Handout/Getty Images North America

The Academy Awards take place Sunday, with Sinners and One Battle After Another leading the nominations. Jessie Buckley is the hot favorite to take the best actress prize for her role in the Shakespeare-centric Hamnet, underlining the extent of Ireland's global cultural reach.

The big story of this prestige-movie season is unconventional, deeply memorable casting choices, with many new faces and voices likely recognized only by neighbors at their local grocery store. And there's at least one critical and commercial hit that nobody saw coming.
Still, a curtain of gloom hangs over the festivities. Layoffs, fewer productions and slumping ticket sales have darkened the mood in an industry that once defined American cultural power. Is Hollywood merely in decline, or on the brink of extinction?
Legendary Iranian director Jafar Panahi's mind is elsewhere as he moves through a feverish schedule of talk shows and interviews about his latest movie, It Was Just an Accident, which is in the running for best international feature film. He just wants to go home, even if that means ending up in prison.
Hollywood may be overrun with pessimism on its biggest night, but for one devoted fan, watching the Oscars remains an annual ritual.
And there's still time to catch your favorite nominees, if you're willing to splurge. New York's Metro Private Cinema offers luxury movie screenings in private rooms for up to $1,000.

Opinion

Donald Trump in his office at Trump Towers in Manhattan in 1985. Photographer: Newsday LLC/Newsday RM

Trump downplaying Russia's alleged support for Iran and easing sanctions reflect a 1980s-era worldview that favors befriending Moscow, confronting Tehran, questioning NATO and using tariffs, Marc Champion writes. These views are shaping US policy in ways that may be disruptive and risky, particularly in the Middle East.

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Before You Go

Smithwick's Irish Red Ale Source: House of Beer

Seeing red. It's hard to imagine St. Patrick's Day—fast approaching—without a serving of creamy Guinness (and some Galway Bay oysters if you're lucky). But maybe it's time to explore some other Irish beer offerings, including red ones like Smithwick's (pronounced Smid-dicks) or Kilkenny Irish ale.

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