Archive for January, 2012

Teen Fined $500: Using Phone While Riding

In Magistrates Court this morning [Jan.24], 18-year-old Elijah Dublin was one of the first people to appear in Court under the guidelines of the new legislation. He pleaded guilty to riding whilst using a hand-held device, which resulted in a $500 fine being levied by Senior Magistrate Archie Warner. The evidence read out to the Magistrate was that... Read more of this article

‘A Lot Of Interest’ In Seadrill Brazil IPO

Bermuda’s Seadrill Ltd., the oil-rig operator controlled by international shipping magnate John Fredriksen, expects a “lot of interest” in the initial share offering in its Brazilian unit, the chief financial officer told the Bloomberg financial news network today [Jan.24]. “Brazil is a drilling heartland market and Seadrill wants to grow... Read more of this article

Analysts Reaffirm Everest Re Rating

Stock in Bermuda-headquartered Everest Re Group had its “neutral” rating reiterated by Zacks Investment Research in a research note. Zacks’ analysts wrote, “We are reiterating our Neutral recommendation on the shares of Everest Re prior to the of fourth quarter earnings release scheduled on February 8, 2012. “The company has suffered... Read more of this article

BIFF To Screen “House of Pleasures”

Bermuda International Film Festival [BIFF] will host a screening of “House of Pleasures” on January 29 at 7pm as part of its monthly film series, BIFFlixs. The film will be shown in the Tradewinds Auditorium at Bermuda Underwater Exploration Institute [BUEI] on Crow Lane in Hamilton. The film was selected to offer a taster of the type of... Read more of this article

Endurance Speciality Rating Lowered

Bermuda’s Endurance Specialty Holdings was downgraded by analysts at Zacks Investment Research from a “neutral” rating to an “underperform” rating in a research note issued to investors today [Jan. 24]‘ Through its operating subsidiaries based in Bermuda, the United States and the United Kingdom, Endurance underwrites specialty lines... Read more of this article

Bank: Lancashire Exposed To Ship Disaster

Bermuda-based Lancashire Holdings Ltd. will likely post a $20 million to $30 million loss from the grounding of the cruise ship “Costa Concordia” off the coast of Italy this month, analysts at a British bank said yesterday [Jan. 23]. London-based investment bank Jefferies International Ltd. said it believed the disaster could result in insured... Read more of this article

Lazard Structures Ecuador Bond

Ecuador is in talks with Bermuda-based Lazard Ltd. and New York’s Clifford Chance LLP to structure a new bond sale after receiving a loan commitment from China last month for at least $1 billion, helping finance a budget deficit that’s projected to reach $4.23 billion this year. This will be the South American country’s first global sale... Read more of this article

CableVision Moves To Avail-TVN

Avail-TVN, the leading independent digital media services company in North America, today [Jan.24] announced that Bermuda CableVision has become the latest Caribbean-Latin America region service provider to move its video on demand [VOD] service to the firm. Bermuda CableVision is the island’s largest provider of digital cable TV and is the only... Read more of this article

Ship Finance International Downgraded

Bermuda’s Ship Finance International Limited was downgraded by Zacks Investment Research from a “neutral” rating to an “underperform” rating in a note issued to investors today [Jan. 24]. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Ship Finance International Limited in a research note to investors... Read more of this article

Romney Had Bermuda Accounts

GOP Presidential candidate Mitt Romney reported financial accounts in Bermuda and the Cayman Islands according to a summary of his 2010 tax form made public by his campaign today [Jan. 24]. Under increasing pressure from his rivals in the Republican field to provide details of his US federal tax returns, Mr. Romney revealed he had paid a total of $6.2... Read more of this article

Dr. Green Appointed Clinical Director

Bermuda Cancer and Health Centre today announced the appointment of Dr. David Green as Clinical Director. He is a Breast Radiologist with extensive experience in breast cancer detection. Dr. Green is now available to meet with patients at the Centre, and will be able to provide breast assessment and answer questions from patients who have been recalled... Read more of this article

College To Hold Winter Commencement

Bermuda College President Dr. Duranda Greene announced that the College will be holding its first Winter Commencement in ten years to celebrate the academic success of 20 students who have attained either associate degree, diploma or certificate qualifications. A winter commencement is scheduled when the number of students successfully completing their... Read more of this article