While You Were Sleeping: 5 stories you might have missed, Aug 12, 2025
Containers are seen at the port in Qingdao, in China's eastern Shandong province on Aug 11, 2025.
Trump signs order extending China tariff truce by 90 days
US President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official said on Aug 11 with only hours to go before US tariffs on Chinese goods were due to snap back to triple-digit rates.
The order followed a noncommittal answer by Mr Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans.
A tariff truce between Beijing and Washington was set to expire on Aug 12 at 12.01am Eastern time (12pm in Singapore). The order prevents US tariffs on Chinese goods from shooting up to 145 per cent, with Chinese tariffs on US goods set to hit 125 per cent, rates that would have resulted in a virtual trade embargo.
'We'll see what happens,' Mr Trump told a press conference, when asked how he planned to extend the deadline. 'They've been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.'
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Trump open to Nvidia selling scaled-back Blackwell chip to China
PHOTO: REUTERS
US President Donald Trump signalled on Aug 11 that he'd be open to allowing Nvidia Corp to sell a scaled-back version of its most advanced AI chip to China.
Mr Trump said he would consider a deal that would allow Nvidia to ship its Blackwell chips to China if the company could design it to be less advanced. 'It's possible I'd make a deal' on a 'somewhat enhanced – in a negative way – Blackwell' processor, he said in a briefing with reporters. 'In other words, take 30 per cent to 50 per cent off of it.'
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Nvidia declined to comment on the president's remarks. Mr Trump made his assertion on Nvidia's Blackwell chip while confirming that he'd hammered out a separate, unusual deal with Nvidia that will allow the company to sell its less-advanced H20 AI chip to China if it pays 15 per cent of revenue tied to those shipments to the US government.
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Child dies in Italy as European heatwave sets records and sparks wildfires
PHOTO: REUTERS
A young boy died of heatstroke in Italy while wildfires threatened a Unesco site in Spain and French cities saw record temperatures, as a heatwave baked Europe on Aug 11.
Many towns and cities in France, Italy and the Balkans were put on red alert due to the heat.
Wildfires fanned by strong winds forced the evacuations of thousands of people throughout the continent and threatened popular tourist sites in Turkey and Spain.
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Trump seizes control of Washington police, deploys National Guard
President Donald Trump announced he would take federal control of Washington, DC's police department and deploy 800 National Guard troops there, escalating his push to exert power over the nation's capital.
Mr Trump on Aug 11 also threatened to insert federal personnel into other cities, including New York and Chicago, if they did not crack down on what he called 'out of control' crime.
During a White House news conference, Mr Trump painted a nightmarish picture of a Washington that's been 'overtaken' by 'bloodthirsty criminals' and 'roving mobs of wild youth' that was at direct odds with statistics showing plummeting crime rates. Violent crimes in the capital reached a 30-year low in 2024, the Justice Department announced weeks before Mr Trump took office in January.
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Sabalenka survives massive Cincinnati struggle with Raducanu
Top-ranked Aryna Sabalenka fought through a three-hour battle to hold off an inspired Emma Raducanu 7-6 (7/3), 4-6, 7-6 (7/5) on Aug 11 and reach the fourth round of the ATP and WTA Cincinnati Open.
The top seed, who won the Cincinnati final a year ago over Jessica Pegula, increased her lead at the top of the WTA Tour match-win statistics as she secured her 49th of the season.
But the struggle was real for Sabalenka, who finished with two aces in the closing stages.
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Straits Times
19 minutes ago
- Straits Times
China's $11 trillion stock market is staging a quiet resurgence
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Straits Times
19 minutes ago
- Straits Times
Commonwealth Bank profit climbs on home, business lending
Sign up now: Get ST's newsletters delivered to your inbox Cash profit from continuing operations rose 4 per cent to a record S$8.58 billion for the 12 months ended June 30. MELBOURNE – Commonwealth Bank of Australia profit met estimates as home-loan growth and lending to businesses supported the country's biggest lender. Cash profit from continuing operations rose 4 per cent to a record A$10.25 billion (S$8.58 billion) for the 12 months ended June 30, according to a statement on Aug 13. That compared with the A$10.26 billion average estimate of analysts surveyed by Bloomberg. Chief executive officer Matt Comyn has prioritised lending to companies at the same time as maintaining the firm's pole position in mortgages. That has helped to offset difficulties from falling benchmark interest rates in Australia that are weighing on banks' margins. 'Despite global uncertainty, the Australian economy has remained resilient, with strong fundamentals including a healthy labour market, steady immigration and ongoing public sector investment,' Mr Comyn said in the statement. 'Even though sentiment remains subdued, we expect economic growth to improve modestly as the year progresses.' Expectations were high heading into Aug 13's results, with the shares up about 37 per cent over the past year. The stock hit an all-time high in June when its market capitalisation climbed above A$200 billion. Profit in the firm's key retail banking services division rose 2 per cent on the prior year to A$5.4 billion, while business banking saw an 8 per cent climb to A$4.1 billion. The bank will pay a final dividend of A$2.60 per share, while its net interest margin was flat on the first half at 2.08 per cent. Top stories Swipe. Select. Stay informed. Singapore Sengkang-Punggol LRT line back to full service: SBS Transit World US trade team will meet Chinese officials in two or three months, Bessent says Singapore From survivable to liveable: The making of a green city Asia DPM Gan kicks off India visit in Mumbai as Singapore firms ink investment agreements Multimedia World Photography Day: Celebrating the art of image-making World Ukraine, sidelined in Trump-Putin summit, fights Russian grab for more territory Opinion Singpass use in dating apps raises difficult questions Singapore SG60: Many hands behind Singapore's success story Meantime, the firm said operating expenses increased 6 per cent driven by inflation and accelerated investment in technology, though that was partly offset by productivity initiatives. Loan impairment expenses dropped as economic conditions improved. Comyn indicated that consumers and households are seeing benefits from lower borrowing costs. 'Pleasingly, many households have seen a rise in disposable incomes due to the recent relief from reduced interest rates, lower inflation and tax cuts,' he said. BLOOMBERG
Straits Times
19 minutes ago
- Straits Times
White House will ‘definitely' host a UFC fight next July 4, UFC chief Dana White says
Sign up now: Get ST's newsletters delivered to your inbox UFC's chief executive Dana White said that he spoke with Mr Trump on the evening of Aug 11 and that he intended to visit Washington this month to discuss details. US President Donald Trump is moving ahead with plans to hold an Ultimate Fighting Championship (UFC) event on the White House grounds next July 4, the UFC's chief executive, Dana White, told CBS on Aug 12. 'It is definitely going to happen,' he said on the CBS Mornings programme. A White House official who asked not to be named to discuss plans that were still in their early stages confirmed that the event was expected to happen on July 4. Mr White is a longtime supporter of Mr Trump, even introducing him at the Republican National Convention last July, and the president has attended three UFC events since his election in November. July 4, 2026 is the date of a long-planned national celebration of the 250th anniversary of the signing of the Declaration of Independence. The non-profit planning the celebration, did not respond to questions about what role the fight would play in the festivities. A UFC spokesperson declined to comment about the details of the event, including how many fights would be on the bill. Mr Trump raised the idea of a UFC event at the White House last month, saying at a kick-off event in Iowa for the national celebration that the White House would host a 'full fight' as part of the festivities. In his interview with CBS, Mr White said that he spoke with Mr Trump on the evening of Aug 11 and that he intended to visit Washington this month to discuss details with the president and his daughter, Ivanka. 'He said, 'I want Ivanka in the middle of this,'' White said. 'So Ivanka reached out to me, and her and I started talking about the possibilities.' NYTIMES
