Business Business en-us Ascendant shares tumble 6.9 A total of 40,581 shares worth 172,919. 97 traded on The Royal GazetteBSX. The Bank of Butterfield dropped one cent 0. 5 per cent to 1. 99 after 31,800 shares sold. And the banks preference shares also fell, down 4. 99 0. 4 per cent to 1,130 after 60 shares changed hands. Utilities firm Ascendant Group lost 35 cents 6. 9. .. Thu, 26 Nov 2015 22:12:00 GMT Bermuda wins Solvency II equivalence from EC Bermuda has won a coveted financial gold star from the European Union. The Island has been awarded full equivalence under the tough EU Solvency II regulations by the European Commission after six years of work. The move means Bermuda and Switzerland are the only non-EU jurisdictions to be recognised as in line with new Euro. .. Thu, 26 Nov 2015 21:04:00 GMT Island to host second StartUp event Anyone who is an entrepreneur, or would like to become one, is invited to join the second Start-Up Weekend to be held in Bermuda. The Bermuda Government-sponsored e-commerce initiative aims to promote the ideas of promising business leaders. It starts next Friday and will be will be focused on hospitality. Decembers StartUp. .. Thu, 26 Nov 2015 18:45:00 GMT Banks explain extra information requests Tougher international rules to combat money-laundering and other crime have hit Bermuda bank customers, the Islands banking industry body said yesterday. The Bermuda Bankers Association BBA said that banks are now asking for additional information and documentation, from both new customers and existing ones. But a spokesman for. .. Thu, 26 Nov 2015 04:25:00 GMT Hamilton boldly goes into space business The managing agency for Hamilton Groups London underwriters is to join the space race. And Hamilton Underwriting, which runs Lloyds syndicate 3334 and the Lloyds operation of Hamilton Insurance Group, has taken on two new senior underwriters as the company expands. Sima Adhya has been appointed head of space, while Stuart Quinlan. .. Thu, 26 Nov 2015 04:24:00 GMT Fire-hit restaurant reopens A restaurant hit by fire has reopened after extensive work to repair the damage. Coconut Rock on Hamiltons Reid Street is back up and running after it was damaged by fire and its sprinkler system around three weeks ago. Co-owner Christian Herzog said Were delighted to be reopened hopefully it will be a good. .. Thu, 26 Nov 2015 00:09:00 GMT Retailers brace for Black Friday bonanza Retailers are today bracing themselves for a Black Friday business bonanza. Businesses are geared up with special offers and longer opening hours as a flood of shoppers is set to descend on stores from the early hours. Paula Clarke, who represents the retail sector on the Bermuda Chamber of Commerce and is CEO of the Gibbons. .. Thu, 26 Nov 2015 04:19:00 GMT KeyTech shares fall 30 A total of 80,000 shares worth 314,751 today traded on the Bermuda Stock Exchange. The biggest loser of the day was telecoms firm KeyTech, which fell 1. 23 30. 8 per cent to 2. 76 after 800 shares traded. Insurance company BFampM was up 14 cents 0. 8 per cent to 17 after 600 shares sold. Fellow insurer Argus Group was. .. Wed, 25 Nov 2015 22:12:00 GMT Retail sales up for 13 successive months Retail sales rose for the thirteenth month in a row in September, according to the latest Government statistics. The year-on-year headline figure rose by 2. 5 per cent, but, after adjustment for inflation, stood at 1. 4 per cent. And vehicle sales notched up its eighth monthly increase, up 8. 9 per cent year on year, with an 11 per. .. Wed, 25 Nov 2015 22:09:00 GMT Duffin bolsters JLT Res Bermuda team A top executive at JLT Re has moved to Bermuda from the firms London operation. Nick Duffin has joined JLT Re Bermuda as a partner, after working for the British arm for three years. JLT Bermuda partner Charles Withers-Clarke said Nick will continue to work with existing clients, as well as providing further strength in expanding. .. Wed, 25 Nov 2015 04:44:00 GMT New caf to open at AS Cooper today A new caf will open its doors today inside AS Cooper amp Sons main department store on Front Street. It has taken six months to create Somers Caf on the first floor of the building. It enjoys sweeping views of Hamilton Harbour and has seating for 36 customers, mostly at chairs and tables in the outdoor balcony area, although there is. .. Wed, 25 Nov 2015 04:41:00 GMT Lost generation faces pension struggle People aged 55 and over are the lost generation of the pensions world, an expert warned yesterday. Miguel DaPonte, senior vice-president for BFampM Investment Services, said Its difficult to say because we get a range of individuals who come in, but a lot of people who come in cant meet the average costs that a Bermudian would. .. Tue, 24 Nov 2015 22:50:00 GMT Chevrons Bermuda companies under scrutiny Bermuda has been in the spotlight in Australia as senators examine the tax affairs of big business. An Australian senate committee set up to look at the tax affairs of major companies heard that oil giants Chevron had 200 companies registered in Bermuda and a further 200 registered in the low tax US state Delaware. Chevron the. .. Wed, 25 Nov 2015 04:43:00 GMT Argus shares drop 4.5 Insurance firm Argus Group dropped 18 cents 4. 5 per cent to 3. 82 on The Royal GazetteBSX. The change in price came after 20,000 shares changed hands. The Bank of Butterfield was unchanged at 2 after 5,000 shares sold. The Royal GazetteBSX closed down 3. 53 points 0. 26 per cent at 1,345. 50. The BSX Insurance Index. .. Tue, 24 Nov 2015 21:44:00 GMT Women entrepreneurs celebrate A group of women entrepreneurs attended a luncheon to celebrate Womens Entrepreneurship Day. The event was organised by the Bermuda Economic Development Corporation and the Department of E-Commerce. The gathering took place in the formal dining room of the US Consul Generals official residence, with US Consul General Mary Ellen Koenig. .. Tue, 24 Nov 2015 21:23:00 GMT