While You Were Sleeping: 5 stories you might have missed, June 11, 2025

Straits Times

a day ago

The World Bank lowered its forecasts for nearly 70 per cent of all economies - including the US, China and Europe, as well as six emerging market regions - from the levels it projected six months ago. PHOTO: REUTERS
While You Were Sleeping: 5 stories you might have missed, June 11, 2025
World Bank cuts global growth forecast amid trade tensions
The World Bank on June 10 slashed its global growth forecast for 2025 by four-tenths of a percentage point to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a 'significant headwind' for nearly all economies.
In its twice-yearly Global Economic Prospects report, the global lender lowered its forecasts for nearly 70 per cent of all economies - including the US, China and Europe, as well as six emerging market regions - from the levels it projected six months ago before US President Donald Trump took office.
Mr Trump has upended global trade with a series of on-again, off-again tariff hikes that have increased the effective US tariff rate from below 3 per cent to the mid-teens - its highest level in almost a century - and triggered retaliation by China and other countries.
The World Bank is the latest body to cut its growth forecast as a result of Mr Trump's erratic trade policies, although US officials insist the negative consequences will be offset by a surge in investment and still-to-be approved tax cuts.
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Pentagon chief vows to honour Aukus nuclear-powered sub deal
Defence Secretary Pete Hegseth sought on June 10 to reassure lawmakers over the US pledge to supply Australia with a fleet of nuclear-powered submarines, amid growing concern that production is not rolling out quickly enough to meet the commitment.
Under the Aukus deal signed to great fanfare in 2021, Washington, London and Canberra are cooperating on the joint development of cyber warfare tools, artificial intelligence and hypersonic missiles.
The agreement commits the US to building cutting-edge submarines for Australia, an investment with an estimated cost of up to US$235 billion (S$300 billion) over 30 years.
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7 dead as Colombia hit with wave of bombings, gun attacks
Colombia was rocked by a string of 24 coordinated bomb and gun attacks that killed at least seven people across the country's south-west on June 10, deepening a security crisis roiling the Andean nation.
Attackers struck targets in Cali – the country's third-largest city – and several nearby towns, hitting police posts, municipal buildings and civilian targets.police posts, municipal buildings and civilian targets.
National Police chief Carlos Fernando Triana said assailants had attacked targets with car bombs, motorcycle bombs, rifle fire and a suspected drone.
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US agencies tracked foreigners visiting Musk's properties
US government agencies tracked foreign nationals' visits to businessman Elon Musk's proprieties amid concerns over possible attempts to influence the tech billionaire, the Wall Street Journal reported on June 10, citing people familiar with the matter.
The investigation, which tracked the foreigners in 2022 and 2023, included the Department of Homeland Security and the Justice Department, according to the report.
It focused on people visiting Mr Musk's properties from countries in Eastern Europe and elsewhere, the Journal said.
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French Senate adopts Bill to regulate fast fashion
The French Senate on June 10 adopted a Bill to regulate the fast fashion industry by sanctioning companies and banning advertisements.
The Bill is targeted at Chinese-founded e-commerce giant Shein, which has a reputation for selling lower quality clothes at a very low price.
Easy to order and to replace, fast fashion items are exported to France on a large scale, causing pollution and saturating markets.
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