Singapore Trial Will Allow New Boat Quay Bars, More Late Nights
The expansions will be part of a one-year pilot from Aug. 18, the Ministry of National Development said in a statement Thursday. Authorities will consider applications to stay open until 4 a.m. the following day on Thursday and Friday nights, as is currently allowed on Saturdays and the eve of public holidays. Circular Road will be car-free Friday and Saturday evenings, and on the eve of public holidays, it said.
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40 minutes ago
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Trump Is a Degrowther
The Atlantic Daily, a newsletter that guides you through the biggest stories of the day, helps you discover new ideas, and recommends the best in culture. Sign up for it here. In the past few weeks, Americans learned that Robert F. Kennedy Jr. canceled half a billion dollars of government investment in the development of mRNA vaccines, Las Vegas saw a 7 percent drop in visitors, residential electricity prices shot up by an average of 6.5 percent, the number of housing permits issued hit their lowest point in half a decade, employers quit adding workers, the manufacturing sector shrank, and inflation rose. These bleak figures depict an American economy slowing and its labor market weakening. A recession isn't guaranteed, but it's becoming much more likely and the stagflation that forecasters described as inevitable when President Donald Trump began prosecuting his global trade war is now a lot closer. Americans, now and in the future, will be paying more and buying less. Trump's second-term economic ideology is not only one of protectionism, mercantilism, atavism, and cronyism. It is also one of degrowth. Trump, who entered the White House promising to slash prices on household goods and supercharge the American economy, would never use that term himself. Degrowth—the notion that wealthy countries can and should reduce their consumption and production—is associated with environmental activists and leftist and green parties in Europe. Still, at its heart, degrowth argues that people should not only tolerate but desire a smaller economy. That's second-term Trumponomics, and everyone stands to be worse off for it. Without admitting it, the White House is pursuing a multipronged strategy to raise prices, suppress consumption, freeze production, and lower productivity in the United States. The trade war is the most obvious example, as well as the one having the most immediate consequences. Since January, Trump has raised and lowered and raised tariffs on goods imported from American allies around the world. Such barriers will eliminate the country's bilateral trade deficits and boost domestic manufacturing, the White House has promised, while warning that consumers and employers might have to endure a chaotic period of adjustment. [Read: Does the stock market know something we don't?] But Trump has slapped tariffs on commodities and parts that factories use to make things in America, such as engine components and timber. He has slapped tariffs on products that are not or cannot be produced here, such as bananas and gallium. And he has slapped tariffs on items that would be too expensive for American consumers to purchase if they were made in this country, given the cost of American wages and the network of factories in operation, such as costume jewelry and sneakers. The Yale Budget Lab estimates that the country's effective tariff rate now stands at 18.3 percent, the highest since 1934. Prices are beginning to rise as importers pass the cost of Trump's import taxes on to retailers and families. Industrial production is falling, as uncertainty plagues the sector. In response, Trump has argued with reality. 'We're only in a TRANSITION STAGE, just getting started!!! Consumers have been waiting for years to see pricing come down,' he wrote on Truth Social. 'NO INFLATION,' he added, pointing to egg and gas prices. But those are just two of 80,000 prices the government tracks each month to calculate the overall inflation rate. The cost of eggs has declined as the bird-flu pandemic has waned; the price at the pump has gone down due to weaker global growth and increased OPEC production. Across the economy, costs have remained witheringly high, despite the Federal Reserve combatting them with high interest rates. If the Fed cut borrowing costs, inflation would climb. Trump's campaign against reality extends beyond the price of consumer goods. Unhappy with the pace of employment growth, the president canned the head of the Bureau of Labor Statistics. 'Important numbers like this must be fair and accurate,' he wrote on Truth Social. 'They can't be manipulated for political purposes.' (Touché.) Unhappy with Fed policy, he has threatened to put Jerome Powell, his own appointee, 'out to pasture.' At the same time as he has prosecuted his bizarre unilateral war on imports, Trump has reduced government subsidies for a range of necessities. He has taken $1 trillion away from Medicaid, while vowing not to reduce the program's budget. He has cut food-stamp benefits, meaning low-income families will buy fewer groceries. He has eliminated support for the loans and grants that poor kids rely on to get a higher education. And he has slashed financing for renewable-energy production. Each of these policies will raise costs and reduce supply. Trump's One Big Beautiful Bill Act, for instance, is expected to eliminate 1.6 million green-energy jobs and reduce electricity-generation capacity by 330 gigawatts by 2035. (That's roughly equivalent to the country's current solar-production capacity.) Americans a decade from now will pay higher prices for electricity and will use less of it, thanks to Trump. Right now, the United States is suffering from shortages—yes, shortages—of immigrants and visitors. Tourist meccas around the country are reeling as visitors from Europe and Asia opt to take their euros and yen elsewhere. Farms and nursing facilities are suffering from a lack of workers. Global investors are opting to park their money abroad, raising domestic borrowing costs and weakening the dollar. [Read: So, about those big trade deals] In the long term, Trump's attack on colleges and scientific-research institutions might end up being the most damaging of his degrowth policies. The American system of higher education—for all of its many, many faults—is an engine of global modernity. The country's land-grant schools help feed the world. Its public colleges vault poor kids up the income ladder. Its name-brand universities are laboratories of scientific innovation. But for the crime of supporting Black and brown kids, admitting foreign students, and hiring liberal thinkers, these institutions are under assault. The mathematician Terence Tao, described by some of his contemporaries as a latter-day Albert Einstein, might not be able to continue his research at UCLA, because of Trump's budget cuts. What good could possibly come of that? The same good that will come from slashing financing for mRNA-vaccine research, meant to prevent cancer and end pandemics. 'I've tried to be objective & non-alarmist in response to current HHS actions—but quite frankly this move is going to cost lives,' argued Jerome Adams, a physician who served as surgeon general during the first Trump administration. As a counterweight, the White House has cut taxes and slashed regulations, for some industries at least. The wealthy stand to do just fine in the Trump economy—happy, I suppose, to have a smaller pie if they get a bigger piece of it. Yet Trumpian degrowth will hurt them, too, in time. Rich people purchase homes and sneakers and bananas, and send their kids to college. Rich people use energy. Rich people hire workers to provide them with home-health support and staff their businesses. And rich people use vaccines and require cancer treatments. Unlike typical degrowthers—with their focus on long-term human flourishing and the conservation of the planetary ecosystem—Trump is engaged in financial nihilism. The president has, at least once, admitted that his policies will lead to Americans having less instead of more: 'Maybe the children will have two dolls instead of 30 dolls, you know? And maybe the two dolls will cost a couple of bucks more than they would normally.' If only that was the worst of it. Article originally published at The Atlantic Solve the daily Crossword
Yahoo
an hour ago
- Yahoo
Electricity bill discounts for UK residents near pylons
The UK government has announced a consultation on proposals to offer electricity bill discounts to households situated near new pylons. The initiative aligns with its Plan for Change and aims to drive growth while delivering clean, affordable energy. Under the proposed scheme, eligible residents across Britain could save up to £250 annually on their electricity bills. The discount would be applied as a £125 reduction every six months for up to ten years. As the demand for electricity infrastructure grows, the government anticipates that approximately twice as much new transmission network will be required by 2030 compared to the decade up to 2025. The recent planning reforms aim to eliminate obstacles and support construction efforts, particularly in rural areas, which are expected to benefit significantly from the bill discounts. In addition to the bill discounts, plans have been revealed that will empower millions of households through enhanced smart meter experiences. Energy suppliers will face stringent requirements aimed at improving the smart meter installation process and providing compensation when installation and repair delays occur. Ofgem's proposals include reducing waiting periods for smart meter installations and mandating repairs within 90 days or offering automatic compensation. A comprehensive guide outlining consumer rights related to smart metering is also being developed into a Consumer Charter. Connectivity enhancements in Scotland and northern England are underway, including expanding 4G services, which are essential for optimising smart meter functionality. By facilitating better energy management and access to flexible tariffs, these measures allow consumers nationwide to reduce their energy bills. This approach prioritises consumers as suppliers strive to install smart meters in all remaining homes by the end of 2030. This approach signifies progress in reforming the energy retail market following earlier commitments by the government, ensuring fairer consumer redress processes. The upcoming consultation reflects a commitment not just towards modernising infrastructure but also rewarding those directly affected by such developments. A recent study highlighted that public acceptability for new electricity network infrastructure remains high nationally but dips when considering local impact. Addressing this concern, the government seeks community-centric solutions to modernise Britain's ageing transmission network, offering discounts on bills to residents living near these projects as a form of compensation. Minister for Energy Consumers Miatta Fahnbulleh said: 'As we build the infrastructure, we need to deliver homegrown, affordable energy; communities must be given a stake. That is why we are teaming up with communities hosting new pylons to ensure they receive direct, tangible benefits. We are on the side of those who want Britain to get back to what it does best: building for the future, driving innovation and putting communities first.' "Electricity bill discounts for UK residents near pylons" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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2 hours ago
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3 Unprofitable Stocks with Warning Signs
Running at a loss can be a red flag. Many of these businesses face mounting challenges as competition increases and funding becomes harder to secure. Unprofitable companies face an uphill battle, but not all are created equal. Luckily for you, StockStory is here to separate the promising ones from the weak. That said, here are three unprofitable companiesthat don't make the cut and some better opportunities instead. MongoDB (MDB) Trailing 12-Month GAAP Operating Margin: -8.1% Started in 2007 by the team behind Google's ad platform, DoubleClick, MongoDB offers database-as-a-service that helps companies store large volumes of semi-structured data. Why Are We Hesitant About MDB? Operating losses show it sacrificed profitability while scaling the business Ability to fund investments or reward shareholders with increased buybacks or dividends is restricted by its weak free cash flow margin of 7.6% for the last year MongoDB is trading at $208.76 per share, or 7.8x forward price-to-sales. Read our free research report to see why you should think twice about including MDB in your portfolio, it's free. Fiverr (FVRR) Trailing 12-Month GAAP Operating Margin: -3.9% Based in Tel Aviv, Fiverr (NYSE:FVRR) operates a fixed price global freelance marketplace for digital services. Why Are We Cautious About FVRR? Struggled with new customer acquisition as its active buyers averaged 8.1% declines Estimated sales growth of 7% for the next 12 months implies demand will slow from its three-year trend Highly competitive market means it's on the never-ending treadmill of sales and marketing spend Fiverr's stock price of $21.91 implies a valuation ratio of 9.3x forward EV/EBITDA. If you're considering FVRR for your portfolio, see our FREE research report to learn more. Purple (PRPL) Trailing 12-Month GAAP Operating Margin: -18.2% Founded by two brothers, Purple (NASDAQ:PRPL) creates sleep and home comfort products such as mattresses, pillows, and bedding accessories. Why Are We Out on PRPL? Sales tumbled by 2.9% annually over the last five years, showing consumer trends are working against its favor Diminishing returns on capital from an already low starting point show that neither management's prior nor current bets are going as planned Depletion of cash reserves could lead to a fundraising event that triggers shareholder dilution At $0.81 per share, Purple trades at 9.3x forward EV-to-EBITDA. Dive into our free research report to see why there are better opportunities than PRPL. High-Quality Stocks for All Market Conditions Donald Trump's April 2025 "Liberation Day" tariffs sent markets into a tailspin, but stocks have since rebounded strongly, proving that knee-jerk reactions often create the best buying opportunities. The smart money is already positioning for the next leg up. Don't miss out on the recovery - check out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
