Despite temporary exception, British steel makers still face uncertainty over US tariffs

The United States has made a temporary exception on steel tariffs for the United Kingdom, which means London avoids the 50 per cent tariffs other countries have to pay - for now. But British steel exporters are still paying a 25 per cent tariff despite a trade deal signed with Washington last month that promised to bring that rate down to zero. Stuart Smith reports on the uncertainties for Britain's steel makers.

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Independent Singapore

an hour ago

• Independent Singapore

The 1% Rule: Banker reveals her secret on how she got rich with just 17 tiny life tweaks — and it could do the same for you

Forget 4 am wake-up calls and polar bear-style ice baths. Becoming rich doesn't require turning your life upside down. In fact, one investment banker and accountant—Nischa Shah—discovered a less glamorous but far more powerful secret: micro habits. These are tiny actions that, when done consistently, compound like interest and quietly transform your finances, well-being, and outlook on life. So if you're ready to build wealth without burnout, here are 17 surprisingly simple habits that have paid off big time! 1. Create more than you consume According to Thomas Corley, author of Rich Habits, 67% of wealthy individuals watch less than one hour of TV daily, compared to 77% of struggling folks who exceed that mark. Translation? The rich are creating videos, blogs, and businesses, while everyone else is bingeing. Photo: YT/nischa Try this: Spend 15 minutes a day making something. Launch that podcast, write a short story, and start learning Python. You don't need to go full Steve Jobs—just make sure you're producing more than you're passively scrolling. 2. Politely escape energy vampires 'You're the average of the five people you spend the most time with.' Sound familiar? That quote, often attributed to Jim Rohn, holds more truth than most memes. If your circle's main skill is complaining or gossiping, it's time to pull a disappearing act. If you can't find new circles in real life, do what Nischa did: turn YouTube, podcasts, and books into your virtual mentors. Your network doesn't need to be in the room to level you up. 3. Start an 'I can do this' file Think of it as a digital pep talk. Every time you conquer a fear, hit a milestone, or simply show up when you didn't feel like it, write it down. Photo: YT screengrab/nischa Use Notion , a folder on your phone, or even a physical journal. On rough days, it's your proof that you've done hard things before and can do them again. Bonus: It's like having a motivational speaker in your pocket—only the speaker is you. 4. Practice gratitude like a scientist Nischa once thought gratitude journaling was for the overly sentimental. Then she stumbled on research by Dr. Sophia Godkin showing that happiness isn't the result of success—it's the seed. So every night at 8 pm, she uses the Day One app to jot down something she's thankful for. A good coffee, a compliment, a solid nap—it all counts. It rewires your brain to hunt for joy, not stress. Pro tip: What you focus on, it shall grow. 5. Automate your savings and investments Warren Buffett said, 'Do not save what is left after spending, but spend what is left after saving.' Nischa takes it one step further: automate both savings and investments so they leave your account before you can even say 'Add to cart.' Photo: YT screengrab/nischa Doing this means no more guilt-driven, last-minute transfers. It also makes 'accidentally' investing in limited-edition air fryers much harder. 6. Be specific with your goals 'I want to save more money' is the financial equivalent of saying 'I want to get healthy.' It's vague, uninspiring, and doomed. Instead, aim for something like: 'I'll save RM30,000 for __________ by December 2027.' That gives you a map and a milestone. Divide it into monthly targets, and suddenly that goal feels doable. 7. Audit your spending in 3 F-Buckets Here's a smarter budget framework: Photo: YT screengrab/nischa Fundamental: Rent, groceries, bills Fun: Coffee dates, Netflix, weekend getaways Future: Investments, courses, upskilling Tracking your expenses with this method (try Nischa's free spreadsheet) turns budgeting from a guilt trip into a power move. It's not about restriction—it's about clarity. 8. Learn one new money thing each week Warren Buffett reads for hours daily. You only need one hour a week. Nischa uses this time to dive into behavioural finance, uncovering how childhood beliefs about money shape adult decisions. This week, for example, it could be 'how kids who felt deprived grow up to hoard, spend, or fear money.' Next week, it might be investment scams or side hustle tips, and so on. Remember: The more you learn, the more you earn. 9. Stop giving power to opinions It's human nature to worry about what others think. But when fear of judgment runs the show, your potential takes a back seat. Before letting someone's opinion derail her goals, Nischa asks: 'In the grand scheme of achieving my life's goals, how important is this person's opinion?' Spoiler alert: Most of the time, their opinions don't matter at all. 10. Escape the 'Yes Trap' Psychology Today says the 'Yes Trap' is the compulsion to agree to everything out of guilt, fear, or FOMO (Fear of missing out). Nischa also says that the 'Yes Trap' is a deep-rooted feeling that we should always say yes to requests, invitations, and opportunities even when our plates are already full. The consequence of this includes burnout, resentment, and the act of neglecting self-care. The cure? Get crystal clear on your goals. Then ask: 'Does this serve my mission or distract from it?' Say 'no' more often, and you'll start saying 'yes' to things that actually matter. 11. Invest in yourself first Stocks are nice. Real estate is great. But what is the best return on investment or ROI? You. Self-investment—learning, health, therapy, coaching—pays dividends. And it compounds. Nischa swears by Brilliant , an interactive platform teaching skills like AI, data science, and critical thinking, using real-world case studies from companies like Airbnb, Spotify , or Starbucks . The best part? You can try it free for 30 days. Because the more you grow, the more your income and opportunities will follow. 12. Diversify your income streams Most millionaires don't rely on just one paycheck. Nischa makes money from brand deals, affiliate links, YouTube ads, her own products, and investments. Start with one. Monetise your skills, passions, or even hobbies. Once it runs on autopilot, add another. Just don't juggle five at once—burnout isn't a badge of honour. 13. Simplify your decisions Steve Jobs wore the same outfit every day. So did Mark Zuckerberg. Why? To avoid decision fatigue. Photo: YT screengrab/nischa You don't need to turn into a tech bro. But do consider streamlining your wardrobe, meal plans, or filming setup (if you're a content creator). Automating low-stakes choices frees up brainpower for the big ones. See also Wealth of US billionaires soars during pandemic 14. Network with intent, not just convenience Chris Donnelly, a founder who built a $10 million business in a year, attributes much of his success to networking intentionally—reaching out to 50+ people monthly. Nischa adopted this approach too, focusing on relationships that align with her vision and offering value in return. It's not about taking—it's about connecting and contributing. Sometimes the right 'who' unlocks the 'how.' 15. Act before you feel ready Newsflash: You'll never feel 100% ready. Waiting for the perfect moment is just perfectionism wearing a productivity costume. Start that blog, pitch that idea, send that message. You might fumble, but fumbling forward is still progress. Action breeds clarity. The magic happens when you leap before you're 'qualified.' 16. Talk about money (Yes, really!) Studies show nearly half of Americans, for example, avoid money talk, even with their partners. Yet 66% believe these conversations are essential for financial freedom. So ask questions. Share insights. Normalise the awkward. Swap 'How's the weather?' for 'How do you approach budgeting?' You'll be amazed at how much you learn—and how much others appreciate the honesty. 17. Live by the 1% Progress Rule Small changes, done consistently, beat grand gestures every time. Want to save more? Trim one unnecessary bill. Want to earn more? Pitch one client a week. Want to invest smarter? Read one page a day. Photo: YT screengrab/nischa Just 1% better each month is 12% better a year. That's how real wealth—financial, mental, emotional—is built. Quietly. Sustainably. Compounded over time. So will this make me a millionaire tomorrow? No, of course not. These habits won't make you a millionaire overnight. But they will nudge you in the right direction—subtly at first, then significantly. So pick one. Start today. Watch it snowball. Because the secret to getting rich isn't dramatic—it's deliberate. And if you liked this guide, consider it your permission slip to stop overthinking and start doing, while you watch Nischa explain it in even more detail in the video below:

CNA

an hour ago

• CNA

US investor strikes $1 billion merger to create bitcoin treasury company

BOSTON :U.S. investor and entrepreneur Anthony Pompliano announced on Monday the creation of a new bitcoin treasury company that would hold up to $1 billion of the world's largest cryptocurrency on its balance sheet. Pompliano said in a statement that his financial services firm ProCap BTC would merge with Columbus Circle Capital I, a special purpose acquisition company, to create ProCap Financial, a bitcoin treasury firm. Several public companies have employed bitcoin treasury strategies, which involves allocating a portion of their cash and reserves toward bitcoin, to replicate the success of software company Strategy, which began accumulating bitcoin in 2020 and now holds more than $63 billion worth of the digital token. The trend comes as U.S. President Donald Trump has sought to overhaul cryptocurrency policy, including calls to establish a strategic bitcoin reserve, after courting cash from the industry on the campaign trail. Pompliano, one of the biggest investors in the crypto space over the last several years, said ProCap BTC has raised $500 million in equity and $250 million in a convertible note, in what he termed the largest initial fundraising in history for a bitcoin treasury company. Unlike traditional bitcoin treasury companies, Pompliano said ProCap Financial would use its bitcoin balance sheet to generate revenue and profit through a variety of strategies, including lending, derivatives, and other products and services. He also said leading institutional investors Citadel, Susquehanna, Jane Street, and Magnetar have committed capital, as have crypto firms Off the Chain Capital, Pantera, Coinfund, Parafi, and FalconX. Reuters was unable to verify whether these companies were investing in ProCap Financial. "The legacy financial system is being disrupted by bitcoin right before our eyes," Pompliano said. "Our objective is to develop a platform that will not only acquire bitcoin for our balance sheet, but will also implement risk-mitigated solutions to generate sustainable revenue and profits from our bitcoin holdings."

Business Times

2 hours ago

• Business Times

Global airlines halt Middle East flights as war disruptions reach Dubai

[DUBAI] Major global airlines extended flight cancellations to the Persian Gulf, disrupting air traffic to critical hubs such as Dubai after the US struck nuclear sites in Iran and Teheran vowed to retaliate. Singapore Airlines said it would suspend service to Dubai until Wednesday (Jun 25) night and warned more flights could be scrapped due to the fluidity of the situation. British Airways added cancellations to Dubai and Doha, while Air France-KLM reportedly will scrap flights to Dubai and Riyadh. The airlines' decisions highlight the potential for a widening of the war between Israel and Iran after US President Donald Trump joined the fight by attacking Iran's nuclear sites. The dramatic escalation risks retaliation, potentially disrupting economies that had previously been shielded from the fallout of regional hostilities. Dubai, home to Emirates, and Doha, the capital of Qatar and its namesake airline, are major travel hubs that handle much of the traffic within the Middle East and form a crossroads for long-haul travel between Asia, Europe and North America. They had avoided previous suspensions that were contained to countries surrounding Israel and the skies over nations where Iran's missiles pass. Prior to the US strikes on Sunday, Teheran threatened to hit US bases in the Persian Gulf should Washington get involved, and close down the Strait of Hormuz, a vital oil trade waterway it borders with the United Arab Emirates and Oman. Qatar hosts the largest US base in the region, while Bahrain is home to the US Navy's Fifth Fleet. 'A widening conflict around the Strait of Hormuz could threaten to disrupt global airline traffic, particularly if flight restrictions to key transfer hubs in Qatar and the UAE were to occur,' Bloomberg Intelligence analysts Eric Zhu and George Ferguson wrote in a note. Excluding local carriers, Indian airlines including IndiGo, Turkish Airlines and British Airways are among the most exposed, they wrote. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Shares of the major network carriers fell, including Air France-KLM, Deutsche Lufthansa and BA parent IAG in Europe. United Airlines Holdings and Delta Air Lines declined in premarket US trading. Singapore Airlines has halted flights to Dubai from the city-state since Sunday over security concerns. British Airways diverted a Dubai-bound flight to Zurich after it reached Saudi Arabia's airspace in the early hours of Sunday, according to data from Flightradar24. Another jet returned to Heathrow after going as far as Egypt. The London-based carrier earlier halted routes to Bahrain through the end of the month due to operational constraints and airspace restrictions. AFP and other outlets reported on the Air France suspensions. With no clear view on next steps, some companies began to take precautions. Japan's biggest banks are considering evacuating employees, with Mitsubishi UFJ Financial Group beginning to pull out the families of staff. Japan's biggest bank has also halted unnecessary travel in and out of the region. Asian airlines have also taken steps to safeguard passengers and crews. Japan Airlines plans to have flights between Tokyo's Haneda airport and Doha avoid airspace above the Persian Gulf and Gulf of Oman, adding about 20 minutes to journeys. Air India will progressively avoid the use of certain airspace over the Persian Gulf in the coming days. The actions follow President Donald Trump's decision to undertake the US' first direct military action against Iran after decades of hostility, pushing the Middle East into uncharted territory. The possibility of further disruption will depend on how forcefully Iran retaliates. Trump has threatened more attacks if Teheran doesn't capitulate. Even before the US strikes, several American and European airlines had paused flights to the United Arab Emirates and Qatar after Israel started bombarding Iran. The skies over large swaths of the Middle East have been restricted at several times during the past 20 months, making flying through Israel, Jordan, Lebanon, Syria, Iraq and Iran difficult. The closures have forced airlines to cancel flights on profitable routes, spend more on jet fuel and pass through countries they usually avoid like Afghanistan, as they avoid dangerous skies. It has also meant hundreds of disrupted flights and thousands of stranded passengers. Israel has started to allow outbound flights after halting them since its launched latest attacks on Iran starting Jun 13. Tel Aviv is expected to let about 1,000 passengers per day leave the country from Ben Gurion Airport and Haifa. The flights, which have a strict limit of 50 passengers per plane to prevent too many people from congregating and presenting a major target at the airport. The government will prioritise foreigners, diplomats, and nationals needing to evacuate for life-saving or humanitarian reasons. The UK is organising a chartered flight for British nationals who want to leave Israel, while Germany sent a military transport plane to extract citizens and France said it also plans repatriation flights. BLOOMBERG