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A glitch in credit and debit card machines has crippled some retailers in the run-up to Christmas, The Royal Gazette can reveal. Some point-of-sale card-swipe machines have closed down due to a time limit on their use — now HSBC is scrambling to find...

A bank chief who left Clarien Bank three months ago is to join its parent company in a top role. Zoran Fotak — who left Clarien Bank earlier this year — will become CEO of CWH Ltd, which is the 80 per cent majority shareholder in Clarien Bank. Mitche...

The standard shopping basket of goods and services was 2.6 per cent more expensive in October than a year earlier, the latest Government statistics have revealed. The average cost of items on the Consumer Price Index (CPI) rose by 0.3 per cent from S...

Telecoms firm CableVision is to increase its infrastructure capability by 50 times, the firm has revealed. The firm said it would use fibre networks direct to homes and lead to faster download times and allow for new services. CableVision CEO Terry R...

A flood of alternative capital into reinsurance could cause instability and put the industry’s reputation at risk. And XL Group CEO Mike McGavick called for a renewed focus to enhance “trust in the system”. Mr McGavick said at a conference in Bermuda...

The struggling commercial real estate sector is bouncing back, according to the latest figures. Real estate firm Coldwell Banker said it had rented or placed in contract nearly 80,000 square feet of office space this year — most of it in the City of ...

Butterfield Bank is to axe phone banking in the new year. The bank said a lack of demand, new technology and support needs were behind the decision to end the service. A spokesman for the bank said: “Telephone banking has been trending downward, whil...

Insurance firm Argus yesterday announced a net profit of $10.6 million for the six months up to the end of September — a jump of $9 million on the same period last year. And the firm announced a dividend of seven cents per share, payable next Februar...

Bermuda priced itself out of major tourism with the growth of international business, a top economist said yesterday. Controversial former newspaper and TV pundit Roger Nightingale said: “You can’t have the tourism of that kind and the finance. “If b...

A new frozen yoghurt shop has opened at the Heron Bay MarketPlace. The supermarket chain set up shop themselves after they were unable to find a tenant for a vacant spot in the MarketPlace Plaza. A company spokesman said: “We started to look at what ...