While You Were Sleeping: 5 stories you might have missed, Aug 2, 2025
US President Donald Trump (left) said he was deploying two nuclear submarines in response to perceived threats from former Russian president Dmitry Medvedev.
Trump deploys nuclear submarines in row with Russia
US President Donald Trump ordered the deployment of two nuclear submarines on Aug 1 in an extraordinary escalation of what had been an online war of words with a Russian official over Ukraine and tariffs.
Mr Trump and Mr Dmitry Medvedev, the deputy chairman of Russia's security council, have been sparring on social media for days.
Mr Trump's post on his Truth Social platform abruptly took that spat into the very real – and rarely publicised – sphere of nuclear forces.
'Based on the highly provocative statements,' Mr Trump said he had 'ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that.'
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Switzerland stunned by Trump tariff rate of 39%
PHOTO: BLOOMBERG
Swiss manufacturers warned on Aug 1 that tens of thousands of jobs were at risk after US President Donald Trump hit them with one of the highest tariff rates in his global trade reset, even if there was some relief for now for the key drugs sector.
The government said it was 'disappointed' and would decide how to proceed after Mr Trump set a 39 per cent tariff on the export-reliant country - more than double the 15 per cent rate for most European Union imports into the United States.
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The levy - up from an originally proposed 31 per cent tariff that Swiss officials had described as 'incomprehensible' - is a body blow for the small Alpine nation, which counts the US as the top export market for its pharmaceuticals, watches, machinery and chocolates.
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Trump orders firing of US jobs official amid cracks
President Donald Trump said on Aug 1 he has ordered the firing of a key economic official, accusing her of manipulating employment data for political reasons – without giving evidence – after a new report showed cracks in the US jobs market.
US job growth missed expectations in July, Labour Department data showed, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.
Mr Trump lashed out at the department's commissioner of labour statistics – Dr Erika McEntarfer – after the report, writing on social media that the jobs numbers 'were RIGGED in order to make the Republicans, and ME, look bad.'
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Man in SAF custody after allegedly vaping on bus
SCREENSHOT: WHATSAPP/ADMINSGFOLLOWS
A person who appears to be vaping while dressed in an army uniform has been identified and is now in the custody of the Singapore Armed Forces (SAF).
In a media reply, Mindef said it is also looking into an online video, which showed the person allegedly using an e-vaporiser while on board a public bus. The clip began making its rounds on social media on July 31.
Mindef added that the possession and use of vapes by its service personnel is 'both a matter of military discipline and an offence under national law'.
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Red Bull reprimanded over Verstappen face towel
Formula One stewards reprimanded Red Bull on Aug 1 for a bizarre incident involving Max Verstappen throwing a face towel out of his car and onto the track during Hungarian Grand Prix practice.
The four-times world champion was summoned after the second session at the Hungaroring as stewards reviewed the video evidence.
'Shortly after Car 1 was released from its garage, the driver of Car 1 (Verstappen) was observed to have thrown a towel out of the cockpit,' they said in a statement.
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CNA
20 minutes ago
- CNA
Asian markets track Wall St rally on Fed rate cut bets
HONG KONG: Stock markets rose on Tuesday (Aug 5) as investors grow increasingly confident the Federal Reserve will cut interest rates next month, despite concerns about the United States economy and Donald Trump's tariffs. The gains tracked a rally on Wall Street, where traders rediscovered their mojo following Friday's sell-off that was fuelled by news that fewer-than-expected American jobs were created in July, while the previous two months' figures were revised down sharply. The reading raised concerns that the world's biggest economy was in worse shape than expected, though it also fanned bets the Fed will slash in September, with markets pricing the chance of a 25-basis-point reduction at about 95 per cent, according to Bloomberg. There is also talk that bank officials could go for twice as much as that. "The narrative flipped fast: soft jobs equals soft Fed, and soft Fed equals risk-on," said Stephen Innes at SPI Asset Management. But he warned that "if cuts are coming because the labour market is slipping from 'cooling' to 'cracking', then we're skating closer to the edge than we care to admit". He added: "That dichotomy - between rate cuts as stimulus and rate cuts as warning flare - is now front and centre. "If the Fed moves proactively to shield markets from the tariff storm and weak labour, the equity rally has legs. But if policymakers are reacting to a sharper downturn that is in full swing, the runway shortens quickly." In early trade, Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila and Jakarta were all in the green. However, while there is a broad expectation that the Fed will cut rates, Lazard chief market strategist Ronald Temple remained sceptical. "I continue to believe the Fed will not reduce rates at all this year, given rising inflation caused by tariffs and a relatively stable unemployment rate," he wrote. "I would align with the majority of the FOMC members who believe it is more appropriate to hold policy constant until there is greater clarity in terms of the effects of tariffs and stricter immigration enforcement on inflation and employment." Traders were keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 per cent on them. Among those to strike a deal is India, which Trump on Monday threatened to hit with "substantially" higher rates over its purchases of Russian oil.
Business Times
an hour ago
- Business Times
Asia: Markets track Wall Street rally on Fed rate cut bets
[HONG KONG] Stock markets rose on Tuesday as investors grow increasingly confident the Federal Reserve will cut interest rates next month, despite concerns about the US economy and Donald Trump's tariffs. The gains tracked a rally on Wall Street, where traders rediscovered their mojo following Friday's sell-off that was fuelled by news that fewer-than-expected American jobs were created in July, while the previous two months' figures were revised down sharply. The reading raised concerns the world's biggest economy was in worse shape than expected, though it also fanned bets the Fed will slash in September, with markets pricing the chance of a 25-basis-point reduction at about 95 per cent, according to Bloomberg. There is also talk that bank officials could go for twice as much as that. 'The narrative flipped fast: soft jobs equals soft Fed, and soft Fed equals risk-on,' said Stephen Innes at SPI Asset Management. But he warned that 'if cuts are coming because the labour market is slipping from 'cooling' to 'cracking', then we're skating closer to the edge than we care to admit'. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up He added: 'That dichotomy - between rate cuts as stimulus and rate cuts as warning flare - is now front and centre. 'If the Fed moves proactively to shield markets from the tariff storm and weak labour, the equity rally has legs. But if policymakers are reacting to a sharper downturn that is in full swing, the runway shortens quickly.' In early trade, Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Taipei, Manila and Jakarta were all in the green. However, while there is a broad expectation that the Fed will cut rates, Lazard chief market strategist Ronald Temple remained sceptical. 'I continue to believe the Fed will not reduce rates at all this year given rising inflation caused by tariffs and a relatively stable unemployment rate,' he wrote. 'I would align with the majority of the FOMC members who believe it is more appropriate to hold policy constant until there is greater clarity in terms of the effects of tariffs and stricter immigration enforcement on inflation and employment.' Traders were keeping an eye on trade talks between Washington and dozens of its trade partners after Trump imposed tariffs of between 10 and 41 per cent on them. Among those to strike a deal is India, which Trump on Monday threatened to hit with 'substantially' higher rates over its purchases of Russian oil. AFP
CNA
an hour ago
- CNA
Singapore raises building height limits near airports following review
SINGAPORE: Buildings near airports in Singapore can now be built taller - potentially by up to 15 storeys for residential developments, and up to nine storeys for industrial or commercial buildings - following a review of height restrictions. The Civil Aviation Authority of Singapore (CAAS) said on Tuesday (Aug 5) that it has updated its rules in line with international guidelines on how tall buildings and structures can be near airports. In May, then-Minister for Transport Chee Hong Tat said that CAAS had been working with the International Civil Aviation Organization (ICAO) to explore freeing up airspace around airports for developments. The authority noted that this was the first time ICAO had reviewed its height restriction standards since the 1950s. "The revised regulations will enable aircraft operations in Singapore to be safeguarded with more precision according to the specific type of operations at each airport and free up more airspace surrounding airports in Singapore for development," CAAS said on Tuesday. "Specifically, this will present opportunities for building height limits and development intensity to be raised in some parts of Singapore." CAAS added that government agencies are still studying how tall and dense future developments near airports can be, taking into account infrastructure capacity and the need to preserve a quality urban living environment. The revised limits stem from a review conducted by an international task force, established in 2015 and chaired by CAAS since 2017. In its review, the task force took a data-driven approach, considering factors such as advancements in aircraft electronic systems and air navigation technology, with input from industry stakeholders and technical panels. Said CAAS director-general Han Kok Juan: "Singapore is honoured to contribute to this major review, including through our chairmanship of the international taskforce. "It will support developments and benefit many countries around the world, including for land-scarce Singapore. This effort underscores the value of collaboration through multilateral institutions and the ability of Singapore and Singaporeans to make meaningful contributions." CAAS said that one of the key updates is the introduction of surface classifications around airport runways: Obstacle-Free Surfaces (OFS) and Obstacle Evaluation Surfaces (OES). OFS are surfaces near the runway that are crucial for safe landings, while OES are surfaces designed to safeguard specific flight paths and procedures used at the runway. The previous model was a "one-size-fits-all" approach that often required more airspace to be reserved for aviation operations. This new classification, however, allows airports to apply rules that match their specific flight operations, noted CAAS. Mr Chee said in May that the change will support further land intensification, which he described as important because of the scarcity of land in Singapore.
