75925 results returned for search: "" category "Business"
Global financial services firm KPMG has paid $8.2 million to settle a US finance industry watchdog’s allegations that it broke rules designed to keep auditors from getting too close to their clients.
Now the Securities and Exchange Commission (SEC) h...
DATE: Feb 13, 2014
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CATEGORY:
International Business
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AUTHOR:
Raymond Hainey, Assistant News Editor
Raj Nagra, the global brand ambassador for Bombay Sapphire gin, is a rock star in the firmament of the wine and spirits industry. The urbane diplomat of the juniper berry spirit was in Bermuda last week to launch Bombay’s new product, a lemongrass an...
DATE: Feb 13, 2014
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CATEGORY:
Other
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AUTHOR:
Rebecca Zuill
Bermuda is set to benefit from becoming the first offshore financial centre to be granted ‘conditional qualified jurisdiction’ status by the National Association of Insurance Commissioners (NAIC), according to an article written by Appleby lawyers Ti...
DATE: Feb 13, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
Rebecca Zuill
Butterfield Bank shares plunged 5.7 percent today to $1.65 — just a day after hitting a new 52-week high of $1.75.
The ten-cent drop in the bank’s share price in Bermuda Stock Exchange trading, came as 8,050 of its shares changed hands.
The bank was ...
DATE: Feb 13, 2014
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CATEGORY:
Bermuda Stock Exchange
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A $2.4 billion deal to take over a telecoms company was the biggest deal struck in Bermuda in the last quarter of 2013, a top law firm said yesterday.
The buyout of CSL New World Mobility by Caymans-based HKT was the chart topper in a quarter that sa...
DATE: Feb 13, 2014
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CATEGORY:
Other
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AUTHOR:
Raymond Hainey, Assistant News Editor
Argo Group earned net income of $143.2 million for last year compared to $52.3 million recorded for 2012.
Gross written premiums for the year totalled $1.9 billion — 8.2 percent up on the $142.7 million the year before.
Estimated pre-tax catastrophe ...
DATE: Feb 12, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
Devonshire Industries Ltd climbed 31.1 percent in Bermuda Stock Exchange trading yesterday.
The owner of the Bermuda Paint Company, surged 95 cents, to close on $4 as 1,000 shares traded.
Butterfield Bank also had a good day as its shares rose five c...
DATE: Feb 12, 2014
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CATEGORY:
Bermuda Stock Exchange
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Bermuda-based Arch Capital raked in nearly $688 million last year, the firm’s results have revealed.
The global insurer and reinsurer reported net income available to shareholders of $687.8 million, or $5.07 per share.
That compares to net income of ...
DATE: Feb 12, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
Raymond Hainey, Assistant News Editor
HSBC has slapped a new redemption fee of up to three percent on one of its money funds.
But HSBC said the charge would only apply in “exceptional circumstances” to avoid to a run on the funds in a financial crisis.
But one customer, who asked not to ...
DATE: Feb 12, 2014
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CATEGORY:
Other
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AUTHOR:
Raymond Hainey, Assistant News Editor
The introduction of a weekly ten percent discount at several grocers has not caused the stores to raise prices, according to Government.
Home Affairs Minister Michael Fahy said a recent report showed an “usual price increase” for some products, but t...
DATE: Feb 12, 2014
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CATEGORY:
Other
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AUTHOR:
Owain Johnston-Barnes
