Category: Business
Thurs: Post Offices To Close For Staff Meeting
The Bermuda Post Office and all sub post offices will close at 1.00pm tomorrow [May 3] for a mandatory staff meeting. A Government spokesperson said, “Tomorrow [May 3], the Minister for the Cabinet Office with responsibility for Government Reform, the Hon. Lovitta Foggo, JP,MP, will address all post office staff regarding the proposed plans for the... Read more of this article
Jeff Baron Updates Profile With New HSBC Job
[Updated] According to his LinkedIn profile, Jeff Baron – who announced late last month that he was quitting politics – has landed a new job with HSBC in Bermuda. His recently updatde LinkedIn account states that Mr Baron has started a new position as “Country Head of Financial Crime Threat Mitigation – Bermuda at HSBC Private Banking”. Screenshot... Read more of this article
Validus Reports Q1 Net Loss Of $4.1 Million
Bermuda-based Validus Holdings reported a net [loss] attributable to Validus common shareholders of $[4.1] million, or $[0.05] per diluted common share, for the three months ended March 31, 2018, compared to net income available to Validus common shareholders of $94.6 million, or $1.17 per diluted common share, for the three months ended... Read more of this article
Bermuda Stock Exchange Report: May 1 2018
May 1 saw 1,532 shares trade on the Bermuda Stock Exchange, valued at $72,004.00 BD. 1,532 shares were traded by Bank of N.T. Butterfield Ltd, closing down 4.1% at $47.00 per share. The BSX finished at 2,621.87, down 3.32% on the day. There were 0 advances, 1 decline, and 59 remained unchanged. The full report for the day is available here [PDF]. Related... Read more of this article
RenaissanceRe Report Net Income Of $56.7M
Bermuda-based RenaissanceRe Holdings Ltd. today reported net income available to RenaissanceRe common shareholders of $56.7 million, or $1.42 per diluted common share, in the first quarter of 2018, compared to $92.4 million, or $2.25 per diluted common share, in the first quarter of 2017. Operating income available to RenaissanceRe common... Read more of this article
BDA CEO Ross Webber On Administrative Leave
Bermuda Business Development Agency CEO Ross Webber is “currently on administrative leave,” the BDA has confirmed, with no further details available at this time. According to his profile on the BDA’s website, “Ross Webber joined the BDA as CEO in 2014, having served as a Board Director since inception. Under his tenure, the... Read more of this article
Premier: Action By UK Has No Place In 2018
“This attempt to legislate for Bermuda from London is a return to base colonialism and is an action that has no place in 2018,” Premier David Burt said following today’s debate and vote in the UK House of Commons. A Bill before the UK Parliament is aiming to make all the Overseas Territories introduce public ownership registers by the... Read more of this article
Retail Sales Increase 0.2% In February 2018
After adjusting for the retail sales rate of inflation, measured at 2.2% in February – the overall volume of retail sales edged up 0.2%, according to the recently released Retail Sales Index. “The largest sales volume increase was reported for building material stores at 13.1%. In contrast, liquor stores recorded the largest decline in sales... Read more of this article
Column: Can You Ever Plan For Unexpected?
[Written by Carla Seely] Murphy’s Law – can you ever really plan for the unexpected? I am not superstitious but I certainly take note of patterns and trends, whether it is “Things always happen in threes” or “It’s Murphy’s Law” – meaning anything that can go wrong will go wrong. One thing I have discovered over the course of my life... Read more of this article
Consumer Price Index: Inflation Increased 0.4%
Consumers paid 2.0% more in February 2018 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI] and the level of inflation increased 0.4 percentage points from the 1.6% measured in January 2018. This is according to the latest Consumer Price Index, which said, “Between January 2018 and February 2018,... Read more of this article
UK Govt Will Not Oppose Territories Amendment
According to reports from the British media, Minister Sir Alan Duncan has just announced that the UK Government will not oppose an amendment which will require the Overseas Territories to introduce public ownership registers by the end of 2020. “Britain’s government agreed on Tuesday to order its overseas territories to make secretive company... Read more of this article
Video: BIU President Holds Press Conference
BIU President Chris Furbert is holding a press conference this morning [May 1]. We will have additional coverage later on, and in the meantime the live video of the press conference is below. Update: The 12 minute live video replay is below Related Stories Video: Bermuda Credit Union Press Conference Video: BIU President On Airport Project Co Jobs Bermuda... Read more of this article
