Author Archive: Bernews1
40-Yr-Old Man Stabbed, Suspect Arrested
A 26-year-old man was arrested in connection with the stabbing of a 40-year-old man early this morning [Oct.12]. At approximately 2am today the victim was found on the corner of Court Street and Elliot Street after having been assaulted. A Police spokesperson said, “Around 2am on Wednesday October 12, police responded to a report on an assault... Read more of this article
Upcoming: OBA Education Town Hall
On Thursday, October 13, the One Bermuda Alliance [OBA] will host an Education Town Hall, with the panelists to include Shadow Education Minister Dr. Grant Gibbons and Toni Spring, the OBA candidate for Constituency 33. The Town Hall will be held at the Willowbank Conference Centre, 126 Somerset Road, starting at 7pm. An OBA spokesperson said, “It... Read more of this article
Bermuda Firm Acquires Danish Carriers
The Danish shipping and oil group A.P. Moller-Maersk A/S announced today [Oct. 12] it has sold its liquefied natural gas unit to Bermuda-based Teekay Corp. and the Japanese group Marubeni. The Danish company says the two buyers will acquire joint ownership interest in eight LNG carriers in a $1.4 billion deal on a cash and debt-free basis. Maersk said... Read more of this article
Andre Curtis Cleared Of All Charges
[Updated] A Supreme Court jury today [Oct.12] returned a not guilty verdict against Andre Curtis for theft of more than $130,000 in Government funds earmarked for the ill-fated Faith Based Tourism [FBT] initiative. Mr Curtis – who was visibly happy after the verdict – was hired in April 2007 to launch an initiative designed to bring tourists... Read more of this article
Best Affirms Aspen Ratings
A.M. Best Europe Ratings Services Limited has affirmed the financial strength ratings of A [Excellent] and the issuer credit ratings [ICR] of “a” of Bermuda-based Aspen Insurance Limited and Aspen Insurance UK Limited. A.M. Best has also affirmed the ICR of “bbb” and the debt ratings of Bermuda’s Aspen Insurance Holdings Limited, the non-operating... Read more of this article
PGA Grand Slam To Allow Phones
The 29th PGA Grand Slam of Golf, Oct. 17-19, in Bermuda at Port Royal Golf Course, will allow spectators to carry and use mobile devices in select areas on the golf course. The integration of mobile devices to enhance the golf spectator experience has been conducted at select PGA of America events since May 2011. Spectators at Port Royal Golf Course... Read more of this article
Inflation Down Despite Energy Jump
Consumers paid 2.5 percent more in August 2011 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The rate of inflation dropped from the 2.8 percent measured in July 2011. The Fuel & Power sector registered the largest spike in this period — up 3.8 percent in August –as the fuel... Read more of this article
US Senate Report Critical Of “Tax Havens”
US Senator Carl Levin, chairman of the Senate Permanent Subcommittee on Investigations, released a report today [Oct. 12] that found that a 2004 repatriation tax break allowing US companies to bring $312 billion in offshore earnings back to the United States from off-shore domiciles including Bermuda at an extraordinarily low tax rate did not produce... Read more of this article
FIFA Begins Caribbean Bribery Cases
The FIFA election bribery cases began yesterday [Oct.11], with 15 Caribbean soccer officials starting to explain their part in an alleged plot involving former FIFA presidential candidate Mohamed bin Hammam. Football’s world governing body said a special panel would hear the defendants over three days and is expected to deliver verdicts this coming... Read more of this article
Tycoon: “IRS Violated Bermuda Treaty”
An Australian-born business tycoon is embroiled in a legal dispute with the US Internal Revenue Service over documents the American authorities received from Bermuda officials concerning his family’s global business dealings. Peter Lowry [pictured], co-chief executive of Australia’s Westfield Group, has been told by the IRS he must lodge... Read more of this article
Alterra Estimates Q3: $20/30M
Bermuda-based Alterra Capital Holdings Limited today [Oct.12] announced that its initial loss estimate from Hurricane Irene and other catastrophe events that occurred during the third quarter of 2011 is in the range of $20 million to $30 million, pretax and net of reinsurance and reinstatement premiums. Alterra believes that its estimated losses from... Read more of this article
Dr. Saul’s Deep-Sea Treasure Odyssey
Florida-based Odyssey Marine Exploration, co-founded by former Bermuda Premier Dr. David Saul, has located two shipwrecks carrying millions of dollars worth of silver. One vessel was sunk off Ireland in 1917, when a German torpedo crippled the British steamer “Mantola” — sending the ship and its cargo of an estimated 20 tons of silver... Read more of this article
