Money

Why is Singapore’s airport closed?

Published

4 years ago

May 13, 2021

ticker NEWS

Singaporean authorities are restricting access to Changi Airport, in response to a growing COVID-19 cluster that is linked to the air travel hub.

The first identified case in the cluster, an 88-year-old airport cleaner, was detected on May 5.

The cluster has since grown to 25 cases, which includes seven new infections that were recorded on Wednesday.

In response to the rising case numbers, all Changi Airport passenger terminal buildings and Jewel Changi Airport will be closed to the public for two weeks.

Jewel is a nature themed entertainment complex that features restaurants, shops and even a 40-metre indoor waterfall. 

The two-week closure is to allow for the “cleaning and disinfection of the premises and facilities”, and for all workers to be tested.

The airport will remain open for air travel, however access to the terminals will be restricted to passengers with air tickets and essential airport workers.

Other members of the public are not permitted to enter the terminals, but will be allowed to drop off or pick up passengers.
The majority of the cases in this cluster are breakthrough infections, meaning the patient contracted the virus despite being fully vaccinated.

Hannah Clapham is an Assistant Professor at NUS Saw Swee Hock School of Public Health in Singapore.

“So when we look at the numbers, when we see a lot of infections in vaccinated people, we have to remember that a lot of people have been vaccinated because we were worried about their risk of transmission,” the epidemiologist told Ticker.

She says it is “really reassuring” that “we have seen much milder cases in vaccinated individuals”.

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Secret IMF meeting sparks US-China truce

Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.

Published

16 hours ago

May 14, 2025

ticker NEWS

Covert IMF meeting sparks US-China trade breakthrough with 115-point tariff cut for 90 days, marking significant progress since the Trump trade war.

A covert meeting in the basement of the IMF has set off a diplomatic shockwave, leading to a major breakthrough in US-China trade talks.

Top officials from both nations have now agreed to slash tariffs by 115 points for 90 days—marking the first real progress since the Trump-era trade war began.

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Money

Gen Z and millennials surpass boomers in voting power

Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.

Published

2 days ago

May 13, 2025

ticker NEWS

Gen Z and Millennials outnumber Baby Boomers in Australian elections, signaling potential reforms in taxation and inheritance laws.

For the first time in history, Gen Z and Millennials now outnumber Baby Boomers at the ballot box in Australia, marking a seismic change in the country’s political landscape.

Experts say this electoral milestone could spark major reform debates on taxation, superannuation, and inheritance laws as younger voters prioritise different values.

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Stocks decline as tariffs and trade tensions escalate

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

Published

1 week ago

May 7, 2025

Ahron Young

Stocks drop as tariffs worry investors; gold hits record high; Canada resists U.S. annexation talk.

In Short:
Stock indexes declined on Tuesday after a nine-day winning streak, while gold prices soared amid economic concerns. Major companies like Ford and Mattel adjusted forecasts due to tariff impacts, and the trade deficit hit a record high of $140.5 billion.

Stock indexes fell on Tuesday, following declines in the Dow and S&P 500 after a nine-day winning streak.

Gold prices reached a new record as markets reacted to ongoing economic concerns.

The downturn persisted following a meeting between Canadian Prime Minister Mark Carney and President Trump, where Carney rejected any notion of Canada being for sale.

Investors showed continued apprehension about the impact of U.S. tariffs and the absence of new trade agreements, particularly as major companies like Ford and Mattel suspended annual guidance due to tariff uncertainties.

Ford impact

Ford, while less affected than competitors, estimated potential tariff impacts could reduce profits by $1.5 billion, prompting a 2.8% increase in its stock.

In contrast, Mattel’s stock rose by 2.6% after it signalled a potential increase in U.S. toy prices, anticipating a $270 million hit from tariffs, while also planning to move manufacturing from China.

Both WK Kellogg and Marriott International adjusted their financial forecasts downward due to tariff-related challenges and broader economic uncertainties.

Clorox shares fell sharply after the company updated its guidance to reflect tariff impacts.

Additionally, President Trump indicated he would announce the details regarding pharmaceutical tariffs within two weeks.

On a related note, new data revealed the trade deficit reached a record $140.5 billion in March, exceeding economists’ expectations and reflecting a surge in imports amid trade policy changes.