Category: Business
Bacardi File FOIA In Havana Club Rum Matter
Bermuda-headquartered Bacardi has filed a Freedom of Information Act [FOIA] request with the U.S. Department of Treasury, saying they wish to “bring to light the reasons for the decision to grant the renewal of the illegally obtained trademark registration of Havana Club to the Cuban government, saying “this decision was done in violation... Read more of this article
Reports: Google’s “666″ Bermuda Post Box
Bermuda is being spotlighted in the UK media again today [Jan 31], with the Daily Mail and Sun both running stories about Google’s connection with Bermuda, with the Sun saying “its only presence is the tiny metal box bearing the number of the beast 666.” The Daily Mail article says, “Google has no office, no staff and little... Read more of this article
Report: Britain Complains About EU Blacklist
“Britain has complained to the European commission about an EU blacklist designed to hit tax havens, including Bermuda, describing it as ‘misleading and deeply unhelpful,” according to a report from the UK’s Observer newspaper. The report said, “Britain has been privately lobbying the EU to remove the tax haven through... Read more of this article
Statistics Report: Imports, Tourism, Employment
According to the 2015 Q3 Quarterly Bulletin of Statistics, imports declined 12.5% to $221.8 million, employment income increased 3.4% and the Island hosted 76,479 air visitors during the 2015 third quarter, a decline of 2.2% year over-year. As far as imports the report said, “Imports declined 12.5 per cent to $221.8 million. The decline was due... Read more of this article
Bermuda Stock Exchange Report: Jan 29 2016
Today [Jan 29] saw 61 shares trade on the Bermuda Stock Exchange, valued at $183.00 BD. All 61 shares were traded by Argus Group Holdings Ltd, closing at an even $3.60 per share. The BSX finished at 1,237.03, also even on the day. There were 0 advances, 0 declines, and 66 remained unchanged. The full report for the day is available here [PDF] and the... Read more of this article
Monetary Authority Warns Of “Clone Firm”
The Bermuda Monetary Authority has advised “that it has located what appears to be a clone firm”, describing a clone firm as “one which uses the details of a genuine firm to try to convince investors that they work for that entity when they do not.” The BMA statement said, “The Bermuda Monetary Authority advises the public... Read more of this article
Bermudian Named On Forbes ’30 Under 30’ List
Bermudian Anna Mackenzie and her business partner Lucy Wright have been named to the 2016 Forbes Europe ‘30 under 30’ list in the retail and e-commerce category thanks to their efforts under the growing Cuckoo food brand. Forbes has been highlighting top entrepreneurs under the age of 30 in the United States for five years and decided to highlight... Read more of this article
Rego SIR Bermuda 2015 Real Estate Report
[Written by Buddy Rego & Penny MacIntyre] Confidence and value typified the market drivers for almost all sectors of the Bermuda real estate market during 2015. Doubters have re-entered the market in most cases buying primary homes and owner-occupier commercial properties. Confidence has spurred to a lesser degree some investment purchases; however,... Read more of this article
Validus: Full Year Net Income of $374.9 Million
Bermuda-based Validus Holdings, Ltd. reported net income available to Validus of $69.0 million, or $0.81 per diluted common share, for the three months ended December 31, 2015, compared to $125.9 million, or $1.38 per diluted common share, for the three months ended December 31, 2014. Net income available to Validus was $374.9 million, or $4.34 per... Read more of this article
Allied Expands Professional Liability In Australia
Allied World Assurance Company Holdings, AG announced that Michael Herron was appointed Vice President, Professional Liability – Allied World Global Markets. Based in Sydney, Australia. Mr. Herron will be responsible for growth and development of the Company’s Australian Professional Liability business and will report to Ben Howell, Senior Vice... Read more of this article
ArgoGlobal Appoints Matthew Foote
ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the appointment of Matthew Foote as Head of Exposure Management, effective immediately. He will report to Gail Sumner, Head of Business Delivery Services. Mr Foote brings more than two decades of exposure management and risk analysis experience to ArgoGlobal. He joins from MSIG at... Read more of this article
Consumer Price Index: Inflation Rose 0.8%
Consumers paid 1.4% more in November 2015 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation rose 0.8 percentage points from the 0.6% measured in October 2015. The report said, “Between October 2015 and November 2015, the average cost of goods and services in the Consumer... Read more of this article
