Nikkei slumps as Asian markets brace for further tariff fallout; Trump says ‘sometimes you have to take medicine’ – business live

A fatal blaze at an enrichment centre in River Valley resulted in the death of a 10-year-old girl, with 22 people hospitalized. The centre, Newtonshow Camp, has other branches operating normally, with parents expressing mixed feelings about safety. While some are reassured, others are concerned about safety protocols and lack of updates on the incident. Full Article

A judge ordered the DNA of a man suspected of killing a Singaporean woman in Spain to be compared with two DNA samples found on her clothes. The suspect, Mitchell Ong, denies killing Audrey Fang but admits taking her to the crime scene. The judge rejected new investigations on telephone service providers and Ong has not made a statement since his arrest. Full Article

In the latest COE bidding exercise in Singapore, premiums for Category A and B cars increased, while those for commercial vehicles and motorcycles fluctuated. Open category COEs also saw a slight rise. Higher COE prices have led to an increase in business for vehicle rental firms during Hari Raya, as families opt for renting over car ownership. The Land Transport Authority implemented measures to stabilize the supply of private-hire cars by requiring disclosure of vehicle...

The Progress Singapore Party (PSP) called for a new trade deal with the US in response to President Trump's tariffs. They shared PM Lawrence Wong's message to not fear the tariffs but warned of the impact on Singapore's prosperity. A national task force will be formed to help businesses and workers navigate the economic impact of the tariffs, which impose a 10% tariff on all imports into the US. Full Article

Since Trump's initial trade war with China in 2018, Beijing has increased trade with other countries to reduce its reliance on the US. The escalating tariff threats between the two nations have resulted in a 104% tariff rate on Chinese imports by the US and a 34% reciprocal tariff on US imports by China, sparking tensions and a war of words between the two economic powerhouses. Full Article

The global economy was shaken as the US imposed 10% tariffs on imports from numerous trading partners, causing market sell-offs and recession fears. President Trump escalated tensions by imposing 104% tariffs on Chinese goods, leading to a deepening trade war and plummeting Asian markets. The United States and China are engaged in a high-stakes game of brinkmanship, raising concerns about the impact on the global economy. Full Article