Business http://www.royalgazette.com Business en-us Failing to plan is planning to fail Failing to plan is planning to fail, is a quote attributed to Sir Winston Churchill or President Roosevelt depending upon your side of the pond. The point remains that planning is critical, especially in challenging times like the Second World War or even now in post-2008 Bermuda. The economy is fragile and managing cash flow is difficult for. .. http://www.royalgazette.com/article/20140830/BUSINESS08/140839991&source=RSS Fri, 29 Aug 2014 22:33:00 GMT http://www.royalgazette.com/article/20140830/BUSINESS08/140839991&source=RSS Failing to plan is planning to fail, is a quote attributed to Sir Winston Churchill or President Roosevelt depending upon your side of the pond. The point remains that planning is critical, especially in challenging times like the Second World War or even now in post-2008 Bermuda. The economy is fragile and managing cash flow is difficult for. .. My car needs repairs should I buy a new one? Dear Dave,Im driving a 10-year-old car with 195,000 miles on it. The car needs 1,500 in repairs, and its worth 5,000. I have 40,000 in cash saved, 40,000 in investments and I make 80,000 a year. I also have 15,000 in student loan debt, but the only other thing I owe on is my house. Should I pay to repair the car or buy something. .. http://www.royalgazette.com/article/20140830/BUSINESS08/140839993&source=RSS Fri, 29 Aug 2014 22:30:00 GMT http://www.royalgazette.com/article/20140830/BUSINESS08/140839993&source=RSS Dear Dave,Im driving a 10-year-old car with 195,000 miles on it. The car needs 1,500 in repairs, and its worth 5,000. I have 40,000 in cash saved, 40,000 in investments and I make 80,000 a year. I also have 15,000 in student loan debt, but the only other thing I owe on is my house. Should I pay to repair the car or buy something. .. Ex-racer plans to set up motorcycle taxi service in Caribbean <img src="/storyimage/RG/20140829/BUSINESS03/140829710/AR/0/AR-140829710.jpg" width="100" align="left" /></a> A Bermuda-based former motorcycle racing professional is revving up to launch a motorbike taxi service across the Caribbean. And Antoine Richards has ambitious plans to expand his business idea from the Caribbean to Central and South America and as far afield as South East Asia and Africa. Mr Richards said The advantages are its. .. http://www.royalgazette.com/article/20140829/BUSINESS03/140829710&source=RSS Fri, 29 Aug 2014 21:47:00 GMT http://www.royalgazette.com/article/20140829/BUSINESS03/140829710&source=RSS <img src="/storyimage/RG/20140829/BUSINESS03/140829710/AR/0/AR-140829710.jpg" width="100" align="left" class="main-image" /></a> A Bermuda-based former motorcycle racing professional is revving up to launch a motorbike taxi service across the Caribbean. And Antoine Richards has ambitious plans to expand his business idea from the Caribbean to Central and South America and as far afield as South East Asia and Africa. Mr Richards said The advantages are its. .. Somers climbs 5.5 A gain of more than five percent in the share price of financial services holding company Somers Ltd helped the Islands stock market to edge higher today. Somers, which owns Bermuda Commercial Bank Ltd, gained 75 cents, or 5. 5 percent, to close on 14. 50 on the trading of 800 shares. The other domestic-board stock to trade was. .. http://www.royalgazette.com/article/20140829/BUSINESS06/140829671&source=RSS Fri, 29 Aug 2014 21:39:00 GMT http://www.royalgazette.com/article/20140829/BUSINESS06/140829671&source=RSS A gain of more than five percent in the share price of financial services holding company Somers Ltd helped the Islands stock market to edge higher today. Somers, which owns Bermuda Commercial Bank Ltd, gained 75 cents, or 5. 5 percent, to close on 14. 50 on the trading of 800 shares. The other domestic-board stock to trade was. .. Starr scores a court victory over US Govt <img src="/storyimage/RG/20140829/BUSINESS04/140829708/AR/0/AR-140829708.jpg" width="100" align="left" /></a> WASHINGTON AM Best News Service Starr International Co scored a procedural victory in its 25 billion class-action lawsuit against the federal government over the bailout given to American International Group during the financial crisis of 2008. A federal judge in Washington rejected the federal governments effort to get the lawsuit. .. http://www.royalgazette.com/article/20140829/BUSINESS04/140829708&source=RSS Fri, 29 Aug 2014 00:04:00 GMT http://www.royalgazette.com/article/20140829/BUSINESS04/140829708&source=RSS <img src="/storyimage/RG/20140829/BUSINESS04/140829708/AR/0/AR-140829708.jpg" width="100" align="left" class="main-image" /></a> WASHINGTON AM Best News Service Starr International Co scored a procedural victory in its 25 billion class-action lawsuit against the federal government over the bailout given to American International Group during the financial crisis of 2008. A federal judge in Washington rejected the federal governments effort to get the lawsuit. .. AIG boss brought forward retirement after learning he had a year to live <img src="/storyimage/RG/20140829/BUSINESS04/140829709/AR/0/AR-140829709.jpg" width="100" align="left" /></a> NEW YORK Bloomberg Robert Benmosche, who is stepping down this weekend after five years as American International Groups chief executive officer, said he learned in May that he had nine months to a year to live. Benmosche, 70, said in an interview that he moved up his exit, which had been slated for early 2015, as his health. .. http://www.royalgazette.com/article/20140829/BUSINESS04/140829709&source=RSS Fri, 29 Aug 2014 00:03:00 GMT http://www.royalgazette.com/article/20140829/BUSINESS04/140829709&source=RSS <img src="/storyimage/RG/20140829/BUSINESS04/140829709/AR/0/AR-140829709.jpg" width="100" align="left" class="main-image" /></a> NEW YORK Bloomberg Robert Benmosche, who is stepping down this weekend after five years as American International Groups chief executive officer, said he learned in May that he had nine months to a year to live. Benmosche, 70, said in an interview that he moved up his exit, which had been slated for early 2015, as his health. .. Belco to pay businesses for their excess solar power <img src="/storyimage/RG/20140829/BUSINESS03/140829711/AR/0/AR-140829711.jpg" width="100" align="left" /></a> Businesses that put solar-generated electricity into the Belco grid are finally to be paid for their power. Belco CEO Walter Higgins yesterday revealed that the firms proposal to the Energy Commission to set up a temporary pay back scheme had been approved. Gorhams and other commercial users have been pumping power into Belco for. .. http://www.royalgazette.com/article/20140829/BUSINESS03/140829711&source=RSS Thu, 28 Aug 2014 23:53:00 GMT http://www.royalgazette.com/article/20140829/BUSINESS03/140829711&source=RSS <img src="/storyimage/RG/20140829/BUSINESS03/140829711/AR/0/AR-140829711.jpg" width="100" align="left" class="main-image" /></a> Businesses that put solar-generated electricity into the Belco grid are finally to be paid for their power. Belco CEO Walter Higgins yesterday revealed that the firms proposal to the Energy Commission to set up a temporary pay back scheme had been approved. Gorhams and other commercial users have been pumping power into Belco for. .. KeyTech falls 3.4 KeyTech Ltd fell 3. 4 percent in Bermuda Stock Exchange trading today. The telecommunications group shed 15 cents to close on 4. 25 on the trading of 3,400 shares. Butterfield Bank remained unchanged on 1. 99 as 1,000 shares changed hands. The Royal GazetteBSX Index fell 1. 85 points, or 0. 13 percent, to close the day on. .. http://www.royalgazette.com/article/20140828/BUSINESS06/140829712&source=RSS Thu, 28 Aug 2014 21:48:00 GMT http://www.royalgazette.com/article/20140828/BUSINESS06/140829712&source=RSS KeyTech Ltd fell 3. 4 percent in Bermuda Stock Exchange trading today. The telecommunications group shed 15 cents to close on 4. 25 on the trading of 3,400 shares. Butterfield Bank remained unchanged on 1. 99 as 1,000 shares changed hands. The Royal GazetteBSX Index fell 1. 85 points, or 0. 13 percent, to close the day on. .. US TV company lists on BSX explores local partnerships <img src="/storyimage/RG/20140828/BUSINESS06/140829733/AR/0/AR-140829733.jpg" width="100" align="left" /></a> A top TV company has signed up with the Bermuda Stock Exchange. And California-based ClearTV said its presence on the Island could lead to local link-ups, as well as boosting Bermudas image as a place to list a business. ClearTV chief operating officer David Tetreault said As we look closer into Bermuda, there could be. .. http://www.royalgazette.com/article/20140828/BUSINESS06/140829733&source=RSS Thu, 28 Aug 2014 12:49:00 GMT http://www.royalgazette.com/article/20140828/BUSINESS06/140829733&source=RSS <img src="/storyimage/RG/20140828/BUSINESS06/140829733/AR/0/AR-140829733.jpg" width="100" align="left" class="main-image" /></a> A top TV company has signed up with the Bermuda Stock Exchange. And California-based ClearTV said its presence on the Island could lead to local link-ups, as well as boosting Bermudas image as a place to list a business. ClearTV chief operating officer David Tetreault said As we look closer into Bermuda, there could be. .. Fairmont Southamptons 11.5m revamp to continue through winter <img src="/storyimage/RG/20140828/BUSINESS/140829732/AR/0/AR-140829732.jpg" width="100" align="left" /></a> The Fairmont Southampton has revamped 230 rooms as part of a hotel renovation scheme expected to cost more than 11. 5 million. And the hotel is set to refurbish a further 172 rooms over the winter as well as hotel corridors. Fairmont Bermuda managing director George Terpilowski said The renovation in the guest rooms and the. .. http://www.royalgazette.com/article/20140828/BUSINESS/140829732&source=RSS Thu, 28 Aug 2014 00:30:00 GMT http://www.royalgazette.com/article/20140828/BUSINESS/140829732&source=RSS <img src="/storyimage/RG/20140828/BUSINESS/140829732/AR/0/AR-140829732.jpg" width="100" align="left" class="main-image" /></a> The Fairmont Southampton has revamped 230 rooms as part of a hotel renovation scheme expected to cost more than 11. 5 million. And the hotel is set to refurbish a further 172 rooms over the winter as well as hotel corridors. Fairmont Bermuda managing director George Terpilowski said The renovation in the guest rooms and the. .. ClearTV starts trading on BSX explores local link-ups <img src="/storyimage/RG/20140827/BUSINESS06/140829747/AR/0/AR-140829747.jpg" width="100" align="left" /></a> A top TV company has signed up with the Bermuda Stock Exchange. And California-based ClearTV said its presence on the Island could lead to local link-ups, as well as boosting Bermudas image as a place to list a business. ClearTV chief operating officer David Tetreault said As we look closer into Bermuda, there could be. .. http://www.royalgazette.com/article/20140827/BUSINESS06/140829747&source=RSS Thu, 28 Aug 2014 12:40:00 GMT http://www.royalgazette.com/article/20140827/BUSINESS06/140829747&source=RSS <img src="/storyimage/RG/20140827/BUSINESS06/140829747/AR/0/AR-140829747.jpg" width="100" align="left" class="main-image" /></a> A top TV company has signed up with the Bermuda Stock Exchange. And California-based ClearTV said its presence on the Island could lead to local link-ups, as well as boosting Bermudas image as a place to list a business. ClearTV chief operating officer David Tetreault said As we look closer into Bermuda, there could be. .. Only HSBC trades on BSX <img src="/storyimage/RG/20140827/BUSINESS06/140829746/AR/0/AR-140829746.jpg" width="100" align="left" /></a> There was no trading among domestic-board companies on the Bermuda Stock Exchange today, leaving The Royal GazetteBSX Index unchanged on 1,388. 46. Among the international companies with secondary listings on the BSX, ClearTV shares opened for trading see separate story and 1,694 shares of HSBC Holdings Ltd traded at. .. http://www.royalgazette.com/article/20140827/BUSINESS06/140829746&source=RSS Wed, 27 Aug 2014 22:00:00 GMT http://www.royalgazette.com/article/20140827/BUSINESS06/140829746&source=RSS <img src="/storyimage/RG/20140827/BUSINESS06/140829746/AR/0/AR-140829746.jpg" width="100" align="left" class="main-image" /></a> There was no trading among domestic-board companies on the Bermuda Stock Exchange today, leaving The Royal GazetteBSX Index unchanged on 1,388. 46. Among the international companies with secondary listings on the BSX, ClearTV shares opened for trading see separate story and 1,694 shares of HSBC Holdings Ltd traded at. .. Bacardi names new CFO <img src="/storyimage/RG/20140827/BUSINESS02/140829753/AR/0/AR-140829753.jpg" width="100" align="left" /></a> Bermuda-based beverage giant Bacardi Ltd has appointed Kevin McNamara as chief financial officer and senior vice-president. The 47-year-old succeeds Joseph Schena, who left the company for another opportunity. Mr McNamara most recently served as corporate controller for Bacardi and oversaw the day-to-day activities of the global. .. http://www.royalgazette.com/article/20140827/BUSINESS02/140829753&source=RSS Wed, 27 Aug 2014 15:25:00 GMT http://www.royalgazette.com/article/20140827/BUSINESS02/140829753&source=RSS <img src="/storyimage/RG/20140827/BUSINESS02/140829753/AR/0/AR-140829753.jpg" width="100" align="left" class="main-image" /></a> Bermuda-based beverage giant Bacardi Ltd has appointed Kevin McNamara as chief financial officer and senior vice-president. The 47-year-old succeeds Joseph Schena, who left the company for another opportunity. Mr McNamara most recently served as corporate controller for Bacardi and oversaw the day-to-day activities of the global. .. HSBC marks ten years on Island with huge donation to education <img src="/storyimage/RG/20140827/BUSINESS/140829794/AR/0/AR-140829794.jpg" width="100" align="left" /></a> Banking giant HSBC yesterday celebrated ten years in Bermuda with a massive 500,000 donation to education. HSBC donated 250,000 to the Reading Clinic and a further 250,000 to charity Knowledge Quest, which helps students struggling to pay for their degrees. Kiara Wilkinson, 19, is one of three students to benefit from the link-up. .. http://www.royalgazette.com/article/20140827/BUSINESS/140829794&source=RSS Wed, 27 Aug 2014 13:14:00 GMT http://www.royalgazette.com/article/20140827/BUSINESS/140829794&source=RSS <img src="/storyimage/RG/20140827/BUSINESS/140829794/AR/0/AR-140829794.jpg" width="100" align="left" class="main-image" /></a> Banking giant HSBC yesterday celebrated ten years in Bermuda with a massive 500,000 donation to education. HSBC donated 250,000 to the Reading Clinic and a further 250,000 to charity Knowledge Quest, which helps students struggling to pay for their degrees. Kiara Wilkinson, 19, is one of three students to benefit from the link-up. .. Students complete 12-week internship at KPMG <img src="/storyimage/RG/20140827/BUSINESS/140829789/AR/0/AR-140829789.jpg" width="100" align="left" /></a> Eleven Bermudian university students completed a 12-week cultivating internship programme with KPMG in Bermuda. Wanda Armstrong, the firms HR and graduate recruitment manager, said The students were able to see first-hand how employment opportunities and training with KPMG is the start of a rewarding and lucrative career path. In. .. http://www.royalgazette.com/article/20140827/BUSINESS/140829789&source=RSS Wed, 27 Aug 2014 00:15:00 GMT http://www.royalgazette.com/article/20140827/BUSINESS/140829789&source=RSS <img src="/storyimage/RG/20140827/BUSINESS/140829789/AR/0/AR-140829789.jpg" width="100" align="left" class="main-image" /></a> Eleven Bermudian university students completed a 12-week cultivating internship programme with KPMG in Bermuda. Wanda Armstrong, the firms HR and graduate recruitment manager, said The students were able to see first-hand how employment opportunities and training with KPMG is the start of a rewarding and lucrative career path. In. ..