Author Archive: Bernews1

Energy XXI Closes Exchange Agreement

Bermuda-incorporated Energy XXI yesterday [Mar.8] announced the closing of an exchange agreement with a holder of the company’s 5.625% Convertible Perpetual Preferred Stock, par value $0.001 per share, to issue shares of the company’s common stock, par value $0.005 per share, in exchange for 29,692 total shares of Preferred Stock. Pursuant... Read more of this article

Photos: Ladies Weekend Hockey

This past weekend, four women’s hockey matches took place at the National Sports Center on the North Field grass. Wildcats 5 Swallows 0 The Wildcats took the lead over the Swallows in the 13th minute when Maria Pichery scored a Field Goal, then Ashley Steede doubled the lead in the 26th minute scoring from a Penalty Corner. A Field Goal in the 44th... Read more of this article

Man & Woman Appear On Drug Charges

In Magistrates Court this morning [Mar.8], 43-year old Anthony Lewis Davis of Schools Drive Devonshire was charged with two counts involving controlled drugs. Count one was that on 17th February 2012, he had cannabis in his possession and that he had this amount with the intent to supply. The second count was that on the same date, he had in his possession... Read more of this article

Labour Dispute At Riddell’s Bay

Staff members of the Riddell’s Bay Golf & Country Club in Warwick have walked off the job and are protesting outside the property this afternoon [Mar.8] after a fellow staff member was fired. This is the second day of the industrial action, which was predicated by the termination of Yvonne Bradshaw from the food and beverage department. Speaking... Read more of this article

Bermuda Models Head To London

Bermuda will be centre stage in London next week when the Top Model Worldwide international model fashion search Grand Finals take place.The contest, now in its sixth year, will host models from 45 countries in the final countdown to the March 2012 Grand Finals. And the winner will receive a trip for two to Bermuda, courtesy of the Department of Tourism,... Read more of this article

Rickai Dickinson Sentenced To 10 Years

[Updated] 27-year-old Rickai Dickinson was sentenced to 10 years in prison this morning [Mar.8], and must serve 5 before he can be considered for parole. Mr Dickinson admitted handling a firearm minutes before his trial was due to begin earlier this week. He had been charged with handling the gun in St George’s on June 5, 2011. A police statement... Read more of this article

Sir John “Sets The Record Straight”

Former Premier Sir John Swan released a statement refuting comments made by BIU President Chris Furbert, and said that there was no time during his tenure that “the superannuation fund was used for any project other than the purpose for which the fund was established, that is pensions.” “I wish to set the record straight in regard... Read more of this article

Fitch Affirms ACE Ltd.’s Ratings

Fitch Ratings today [Mar.8] affirmed the ratings of Bermuda- and Switzerland-based ACE Limited and its subsidiaries. The Rating Outlook is revised to Positive from Stable. Fitch’s rating actions reflect ACE’s continued strong operating performance, solid balance sheet and financial flexibility, and diverse sources of revenues and earnings. Partially... Read more of this article

AXIS CFO Presents At NYC Conference

Albert Benchimol, Chief Financial Officer of Bermuda-based AXIS Capital, gave a presentation at the 2012 Citi Financial Services Conference at The Waldorf Astoria Hotel in New York City this morning [Mar.8] An archived replay of his address will remain available here through Wednesday, June 5 and a copy of Mr. Benchimol’s presentation will... Read more of this article

Upcoming Forum: ‘Your Right to Know’

The Centre for Justice will be hosting a public forum at the St Paul’s Centennial Hall next Wednesday [Mar.14] at 6pm entitled ‘Your Right to Know’. The topics for discussion will include the Public Access to Information Act [PATI], the Ombudsman Act, the Good Governance Act and the Audit Act. The panel of speakers include Heather Brooke [one... Read more of this article

Police: ‘Rider Fell To The Ground’

A rider was injured after he “fell to the ground” yesterday while traveling on South Road in Paget, said a police spokesperson. “Around 5:45pm on Wednesday, March 7th police and first responders attended a reported single vehicle collision on South Road in Paget in the vicinity of the Botanical Gardens,” said the police statement. “It... Read more of this article

Validus Quarterly Results Due April 26

Bermuda’s Validus Holdings yesterday [Mar.7] announced that it plans to release its financial results for the quarter ended March 31, 2012, after the close of trading on the New York Stock Exchange on Thursday, April 26, 2012. Validus Holdings, Ltd. is a provider of reinsurance and insurance, conducting its operations worldwide through two wholly-owned... Read more of this article