1110 results returned for search: "" category "Other" author David Fox, Business Editor
A rating agency brought the hammer down on Bermuda’s banking sector yesterday with a bad report card citing projected credit losses of more than a billion dollars, for a period not ending for another two years.
Standard & Poor’s took various ratings ...
DATE: Jul 02, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Butterfield Bank yesterday confirmed that it is absorbing a portion of a 0.6 percent charge applied by credit card companies for cross-border transactions.
First notice of this was a message on credit card statements Butterfield customers received th...
DATE: Jul 02, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
The Foreign Account Tax Compliance Act (Fatca) comes into effect in Bermuda today, amid continuing confusion and concern for its long ranging impact.
But one local financial institution said it is prepared to go further than Fatca requirements and ca...
DATE: Jul 01, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Most standard lines of commercial insurance business will eventually be commoditised, a leading underwriter has told delegates at the just concluded Insurance Day Bermuda Summit at the Fairmont Hamilton Princess Hotel.
But Greg Hendrick, chief execut...
DATE: Jun 27, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
The City of Hamilton will again be graced with steady cruise ship activity next summer, with the several visits of a ship from the Holland America Line, the company has announced.
The cruise line issued a statement stating: “Holland America Line is r...
DATE: Jun 23, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
A bankruptcy judge this week delves into key issues in the worst municipal bankruptcy in US history.
And in the middle is a Bermuda insurer whose holding company lists a Bermuda cabinet minister as a director.
The case is scheduled to go to trial in ...
DATE: Jun 23, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Tourism and government officials are earnestly seeking to negotiate more visits from smaller cruise ships for the Hamilton and St George’s ports.
They are scheduled to meet this summer with top executives from several cruise lines. But with America’s...
DATE: Jun 23, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
An oversubscribed initial public offering (IPO) for Bermuda-registered Markit Ltd is a vote of confidence for the Island, a partner in a leading local law firm said yesterday.
The IPO was the fourth largest IPO in the US this year and values the ent...
DATE: Jun 20, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Obtaining as much as $150 million in financing, juggling staffing issues and building and siting what could be a $300-million new infrastructure to feed Belco’s power plant are some of the hurdles in front of Bermuda’s electricity company.
Belco must...
DATE: Jun 19, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
The path to a cleaner energy supply at a lower cost to the consumer could begin soon with “smart meters” for every home in Bermuda, together with conservation education.
But it won’t come until Belco and government strike a deal determining how the b...
DATE: Jun 19, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
