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Yahoo
25 minutes ago
- Yahoo
Haidilao to give out $800,000 dining vouchers as Clarke Quay outlet closes Aug 2025
For many Singaporeans, their first taste of Haidilao's legendary tomato broth, hand-pulled la mian, and warm service might have been at Haidilao's outlet. Come 31 Aug, this chapter will close for good. Haidilao's Clarke Quay outlet — the chain's very first store in Singapore and its first venture outside mainland China — will shutter its doors after 13 years, as its lease comes to an end. When it first opened in 2012, the riverside location quickly became a go-to for late-night suppers, birthday celebrations, and even a sobering post-club hotpot. It was here that many diners first experienced free manicures while waiting for a table, snacks on the house, and staff who remembered their favourite dipping sauce mix. Today, Haidilao has grown to more than 15 outlets across Singapore and expanded to countries like the U.S., Canada, and Australia. But Clarke Quay will always be the '一店', or 'original store' that started it all. To mark the occasion, Haidilao and CQ @ Clarke Quay will be giving away more than S$800,000 worth of dining vouchers to eligible members. Each member will receive an e-voucher worth S$20, redeemable at any Haidilao outlet in Singapore with no minimum spend. From Aug 18 to 29, diners visiting the Clarke Quay branch during selected hours will also stand a chance to win vouchers for Haidilao's sister brands, Hi Hot Pot and Hi Noodle, through a lucky draw. While the Clarke Quay unit is set to welcome a new concept after its closure, hotpot lovers can still get their fix at other branches, with the nearest ones located at Plaza Singapura, Bugis+, and Marina Square. As bittersweet as it is, you still have 2 weeks to savour those nostalgic moments at Clarke Quay. And while this marks the end of an era for Haidilao's first Singapore outlet, for anyone who's ever huddled around its steaming pots with loved ones, the memories (and spice) is sure to linger on. 10 places to feast at Clarke Quay Central before your next big night out The post Haidilao to give out $800,000 dining vouchers as Clarke Quay outlet closes Aug 2025 appeared first on
Bloomberg
27 minutes ago
- Bloomberg
Trump to Hold Off Hiking China Tariffs Over Russia Oil Purchases
US President Donald Trump said he will hold off on raising tariffs on Chinese goods over the country's purchases of Russian oil, citing progress he said was made with Vladimir Putin toward ending the war in Ukraine. 'Because of what happened today, I think I don't have to think about that,' Trump said Friday in a Fox News interview with Sean Hannity after his summit with Putin. 'Now, I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now.'
Yahoo
44 minutes ago
- Yahoo
Wall Street Joins Consumer Advocates to Call for Edit to GENIUS Act on Stablecoins
Wall Street bankers are hammering away at some provisions of the new U.S. stablecoin law that was hailed by President Donald Trump and the crypto sector as a huge first step toward establishing a fully regulated U.S. industry, and the banks are joined by unusual bedfellows from the consumer-advocate world in sounding alarms. Hoping to revise and cut provisions that might threaten aspects of the current financial system, the American Bankers Association and other bank lobbying groups aligned in a letter this week with Americans for Financial Reform — usually a staunch opponent of Wall Street's policy aims — and the National Consumer Law Center. One provision of the stablecoin law known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act lets a stablecoin-issuing subsidiary of a state-chartered uninsured depository institution run money-transmission and custody services nationwide, which the bankers argue bypasses existing state licensing and oversight. Their letter asked several key U.S. senators to insist that whole section be erased entirely. "Ignoring state law in this regard invites regulatory arbitrage, allowing certain uninsured depository institutions special privileges to operate across state lines as federally insured banks currently do, but without the panoply of regulatory and supervisory requirements, or limitations on preemption applicable to those institutions," the August 13 letter argued. The bank lobbyists, also cooperated in a separate effort to protect deposits and other core aspects of their businesses from the GENIUS Act, arguing in another letter to lawmakers this week that the law leaves an opening for crypto firms to offer returns on stablecoins. While the law bans stablecoin issuers themselves from offering interest or yield, it doesn't stop the issuers' affiliates or exchanges from doing so indirectly. The bankers fear a massive loss of deposits and money-market fund activity from the resulting rivalry stablecoins might offer. "Congress must protect the flow of credit to American businesses and families and the stability of the most important financial market by closing the stablecoin payment of interest loophole," according to the groups, including the ABA, Bank Policy Institute, Financial Services Forum and others. Banks turn deposits into loans, so the lack of deposits threatens necessary U.S. lending. Faryar Shirzad, the chief policy officer at U.S. crypto exchange Coinbase, criticized the banks' position in postings on social media site X. "Congress shouldn't be in the business of passing legislation that takes away consumer choice and the opportunity for the average person to earn returns on their hard-earned dollars," he wrote, additionally arguing that the $6 trillion figure on what desposits may be at stake is overblown. "Let's play along for a second," Shirzad added. "If customers really would move $6T away from banks into stablecoins, what does that say about what value consumers feel like they're getting from their banks?" The GENIUS Act was signed into law by President Trump, but the bigger and more complex legislation to regulate U.S. crypto markets is still pending. That future bill, which already passed the House of Representatives as the Digital Asset Market Clarity Act, could still overhaul provisions of the stablecoin law, even before that new law is converted into rules by the U.S. financial regulators. That's what the bankers are advocating, alongside their temporary customer-advocate allies. Adds comment from Coinbase's Faryar Shirzad. 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
