Latest news with #MichaelSaunders
Online Citizen
4 days ago
- Politics
- Online Citizen
Singapore and US scrap plans for permanent RSAF F-15 detachment in Guam
Singapore and the United States have mutually agreed to cancel plans to permanently station 12 Republic of Singapore Air Force (RSAF) F-15 fighter jets in Guam from 2029. The decision also means around 200 personnel and their dependants, who were expected to move from Singapore to support the mission, will no longer be deployed. According to The Guam Daily Post, the cancellation was revealed in the US Department of the Air Force's (DAF) Record of Decision (ROD) and final environmental impact statement. The ROD cited operational analysis, site surveys, environmental and economic assessments, public and agency feedback, and military judgement as contributing factors. Review of training needs Singapore's Ministry of Defence (MINDEF) confirmed the decision on 12 August 2025, stating that it and the US Department of Defence (DOD) had 'mutually agreed to discontinue discussions' on the Guam detachment. The move followed a review of the RSAF's training needs, as per reported by Singapore's state media The Straits Times. Despite the cancellation of a permanent base, MINDEF said periodic short-term training and exercises in Guam would proceed. This includes an upcoming fighter training detachment from October to November 2025. New plans in Arkansas for F-35 training Singapore and the US are now working on establishing a new RSAF fighter training detachment at Ebbing Air National Guard Base in Fort Smith, Arkansas. This facility will host future F-35 fighter training. MINDEF reiterated the strong bilateral defence cooperation between the two countries and expressed appreciation for the US DOD's continued support of Singapore's training detachments in America. The US Air Force had earlier announced that it 'will not implement or carry forward the bed down' of RSAF F-15s at Andersen Air Force Base in Guam. This was detailed in a formal ROD signed by Acting Assistant Secretary of the Air Force Michael Saunders on 16 July 2025. The document outlined environmental assessments of hosting Singapore's aircraft and personnel, and the associated construction plans. While certain infrastructure projects such as airfield pavements, fuel lines, and stormwater facilities will still proceed, others — including a planned munitions storage area — will not be built. The ROD also confirmed that no RSAF personnel, families, or temporary support staff will be stationed in Guam under the cancelled arrangement. Agreement first signed in 2019 The memorandum of understanding for the Guam detachment was reached in 2019 after joint studies into training area suitability, infrastructure, and support facilities. MINDEF said at the time that Guam's vast airspace would allow realistic training to enhance operational readiness. The agreement was formally signed in December 2019. In December 2023, the US Air Force began studying the potential environmental impact of upgrades to support a long-term RSAF presence in Guam. The island, covering 550 square kilometres in the western Pacific Ocean, is located about 9,300km from San Francisco and 4,700km from Singapore. Past RSAF training in Guam The RSAF has previously deployed F-15s and other jets to Guam for short training periods in 2017, 2019, 2021, and 2023. Separately, the Republic of Singapore Navy (RSN) conducted a major exercise in Guam and surrounding waters in June 2025. The 12-day bilateral Exercise Pacific Griffin was the fifth in its series. It involved RSN vessels, two RSAF Fokker-50 Maritime Patrol Aircraft, and six F-16 fighter jets.
Straits Times
4 days ago
- Politics
- Straits Times
Plan to base Singapore's F-15 fighter jets in Guam cancelled
This development will reportedly affect some 200 Republic of Singapore Air Force personnel and their dependents who were supposed to transfer to Guam. SINGAPORE - The Republic's plan to base a detachment of F-15 fighter planes in the US territory of Guam from 2029 has been cancelled, following a review of the Republic of Singapore Air Force's (RSAF) training needs. Responding to queries from The Straits Times, the Ministry of Defence said on Aug 12 that it and the US Department of Defence (DOD) 'had mutually agreed to discontinue discussions on a RSAF fighter training detachment in Guam'. RSAF's plans for periodic short-term training and exercises in Guam will continue, such as the upcoming fighter training detachment in Guam from October to November, it said. It is working with the US on a new fighter training detachment at Ebbing Air National Guard Base in Fort Smith, Arkansas, which will host the RSAF's future F-35 fighter training, it added. The cancellation had been announced earlier by the US Department of the Air Force (DAF) and was reported by Guam media. The US DAF 'will not implement or carry forward the bed down' of up to 12 RSAF F-15 aircraft at the Andersen Air Force Base on Guam, according to a Record of Decision - a formal public document - signed by the US Acting Assistant Secretary of the Air Force Michael Saunders on July 16. The paper documents the assessment of the environmental impact of the proposed move to house the Singapore planes and personnel, as well as the construction of new infrastructure on the base. It also stated that the proposed airfield operations on the Andersen base related to the Singapore detachment, including that of support aircraft not based there, would not go ahead. There will also be no RSAF personnel, their families, and any temporary support staff related to the fighter jet detachment stationed in the base, according to the document. This development will affect some 200 RSAF personnel and their dependents, local news outlet The Guam Daily Post reported on Aug 8. According to the July 16 document, the US DAF will go ahead with the construction of infrastructure such as airfield pavements, fuel lines and stormwater management facilities, but not the building of structures such as a munitions storage area. The MOU between Mindef and US DOD on the Singapore detachment in Guam was reached in 2019 after in-depth studies with the US were done on factors such as the suitability of the training area, infrastructure and other types of support. Then, Mindef had said that the vast training airspace in Guam would allow the RSAF to conduct realistic training to hone its capabilities and readiness. Top stories Swipe. Select. Stay informed. Singapore Power fault downs MRT service on stretch of North East Line; recovery may take 2-3 hours Singapore Live: NEL MRT disruption Business Singapore raises 2025 economic growth forecast but warns of uncertainty from US tariffs Singapore Circle Line to close early most Fridays and Saturdays, start late most weekends from Sept 5-Dec 28 Business Goh Cheng Liang, Nippon Paint billionaire and richest Singaporean, dies aged 98 Business StarHub buys rest of MyRepublic's broadband business in $105m deal; comes after Simba buys M1 World After tariff truce extended, a Trump-Xi summit in China? Asia Death of student in Sabah raises hurdle for Malaysian PM Anwar as he faces tough state polls soon The agreement to establish an RSAF fighter training detachment at Andersen Air Force Base was signed in December 2019. In December 2023, the United States Air Force said it would study the potential environmental impact of infrastructure upgrades needed to host this detachment in Guam for the long term. The 550sqkm island in the western Pacific Ocean is at least 9,300km away from the city of San Francisco in the continental United States. It is approximately 4,700km from Singapore. The RSAF had previously sent its F-15s and other jets for short training stints in Guam in 2017, 2019, 2021 and 2023. Separately, the Republic of Singapore Navy (RSN) held an exercise in Guam and its surrounding waters as recently as June. The 12-day bilateral exercise was the fifth iteration of Exercise Pacific Griffin , and it involved RSN's vessels and two of RSAF's Fokker-50 Maritime Patrol Aircraft, as well as six F-16 fighter aircraft. In the Aug 12 statement, Mindef said that Singapore and the US have excellent and long-standing bilateral defence cooperation. Mindef conveyed its thanks to the US DOD for its continued support of RSAF's training detachments in America, which are integral to RSAF's honing of its operational capabilities.
Daily Mirror
07-08-2025
- Business
- Daily Mirror
UK households given £100-a-month off mortgage payments in boost for millions
The Bank of England is poised to cut interest rates on Thursday with a quarter-point reduction expected, according to City investors, who have projected a a three-way split among rate setters. A significant shift is on the horizon for UK homeowners and prospective buyers this Thursday, as the Bank of England gears up to slash interest rates. City investors are betting on a quarter-point reduction, anticipating a three-way split among the rate setters. City experts are predicting that the central bank will declare a quarter-point cut, marking the fifth decrease in rates within a year. The financial markets are placing an almost 100% certainty on a quarter-point drop from 4.25%, mirroring the previous cut made in May. In anticipation of the rate decision due at midday on Thursday, research published by the party highlighted that a family purchasing an average property is now saving nearly £1,000 annually on their mortgage compared to July 2024, when the Tories vacated office. In other similar news, a state pension warning for millions of Brits who are between two specific ages. Data from Rightmove indicates that the monthly mortgage payments for a typical first-time buyer have dropped by almost £100 compared to last year, reports Birmingham Live. Michael Saunders, once part of the MPC and currently with Oxford Economics, commented: "You have weak growth, rising unemployment and inflation well above target; those signals go in opposite directions [for a rate decision]." "Different people will put different weights on them. It is not sign that they are more argumentative than other committees [in the past], just that they face a greater disparity between growth, unemployment and inflation." He continued: "Monetary policy remains quite tight. Fiscal policy is tightening, and the budget may include further tax hikes later this year. Trade policy uncertainty remains high, deterring investment and hiring." Labour Party Treasury minister James Murray stated: "Labour's urgent task when we took office was to restore stability to the economy after 14 years of Tory failure. Since we came into office, rates have been cut four times, and that's putting more pounds in the pocket of homeowners through cheaper mortgages." According to Halifax, the average property prices is now £298,237 compared to £297,157 last month. The 0.4% rise is the highest since the start of the year, while the annual rate of price growth was +2.4% compared to +2.7 in June. Halifax Head of Mortgages Amanda Bryden, said: "It's worth remembering that prices vary widely across the country depending on a number of factors, not least location and property type." She continued: "But with mortgage rates continuing to ease and wages still rising, the picture on affordability is gradually improving. Combined with the more flexible affordability assessments now in place, the result is a housing market that continues to show resilience, with activity levels holding up well."
Bloomberg
06-06-2025
- Business
- Bloomberg
Tax-Hike Pressures to Follow UK Spending Review, Economists Say
UK Chancellor of the Exchequer Rachel Reeves is increasingly likely to have to raise taxes later this year as weak growth, higher borrowing costs and top-ups for public services put her fiscal rules at risk, economists warned. Just days before Wednesday's Spending Review, when Reeves will allocate roughly £600 billion of annual spending between departments, former Bank of England rate-setter Michael Saunders said it was 'not hard to see pressures for extra fiscal tightening of £15 billion-£30 billion' at the autumn budget.
Business Wire
20-05-2025
- Business
- Business Wire
XP Raises $6.2 Million from Blockchange, L1D, Reflexive and others to Revolutionize Ticketing and Put Fans Back in Control
CHICAGO--(BUSINESS WIRE)--XP, a ticket marketplace dedicated to elevating live experiences and rewarding fandom, today announced it has raised $6.2 million in funding led by Blockchange, with participation from L1D, Reflexive, and others. The capital will accelerate XP's mission to build the most fulfilling ticketing experience for fans. "Buying tickets shouldn't feel like you're getting taken advantage of," said Saunders. 'Fandom is an integral part of a person's identity, and yet most platforms treat fans like transactions. We believe fans deserve better." XP has rapidly scaled as a fan-favorite ticket resale marketplace thanks to its robust ticket inventory and transparent, fair-market prices. The platform boasts millions of dollars in annualized ticket sales, and offers more than 50 million tickets to major concerts, sporting events, and shows nationwide. Michael Saunders, XP's founder and CEO, believes XP's rising popularity is a direct result of fans' long-seated frustration with incumbent ticketing marketplaces. "Buying tickets shouldn't feel like you're getting taken advantage of," said Saunders. 'Fandom is an integral part of a person's identity, and yet most platforms treat fans like transactions. We believe fans deserve better—and that starts with recognizing and rewarding fans' loyalty and passion.' XP's unique approach to ticketing blends innovative technology with transparent pricing and fan-centric features. Price Alerts, for example, notify XP users when their desired seats drop to their ideal price. Another innovation, Tixpy, instantly compares total ticket prices across sites so fans can secure the best deal. Looking ahead, XP believes the future of live entertainment lies in putting control back into the hands of fans, artists, athletes, and entertainers. The company is investing heavily in the development of identity-driven features powered by AI and blockchain technology that will deepen fan engagement, foster community, and offer personalized rewards tied directly to fandom. "Every fan interaction on XP—from discovering new events to purchasing tickets to reliving cherished memories—is designed to be rewarding, joyful, and genuinely magical," Saunders emphasized. "We're not just changing the way fans buy tickets; we're revolutionizing their entire experience." By enhancing personalization and creating smarter, more trustworthy interactions between fans, vendors, and entertainers, XP aims to make every stage of the live event journey more meaningful, connected, and rewarding for fans. About XP XP is a secondary ticketing marketplace that puts fans first with transparent, fair-market prices and tech-forward ticketing innovations. Thanks to XP's upfront prices and no hidden fees, fans save up to 30% on XP compared to the same seats listed on other resale marketplaces. Find your next unforgettable live event at or by downloading XP's free iOS app. For the latest updates, follow XP on Instagram, X and LinkedIn.
