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It was a tale of two banks on The Royal Gazette/Bermuda Stock Exchange Index (BSX) yesterday.
Bermuda Commercial Bank Ltd. saw its stock price rise $2 (22.22 percent) to $11, with 400 shares traded.
But Butterfield Bank's share value sunk 10 cents (0...
DATE: Nov 14, 2008
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Bermuda's insurance industry is a good source of capital to the US and American legislators would be foolish to cut off that supply by changing the tax rules, according to the Island's top financial regulator Matthew Elderfield.
Mr. Elderfield, CEO o...
DATE: Nov 14, 2008
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WASHINGTON (AP) — Some of the largest US banks sharing in the $700 billion government bailout of the financial industry tried to assure lawmakers yesterday they are using the money to make more loans and help financially strapped homeowners avoid for...
DATE: Nov 14, 2008
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LONDON (AP) — BT Group PLC, Britain's largest phone company, yesterday reported quarterly earnings rose 18 percent but said it would slash 6,000 more jobs by March to keep costs down and maintain its profits.
Shares surged nine percent on the news.
T...
DATE: Nov 14, 2008
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NEW YORK (Bloomberg) — Las Vegas Sands Corp. said at least 9,000 construction workers in Macau may lose their jobs after the casino company controlled by billionaire Sheldon Adelson halted work on a $12 billion development. About 11,000 people are em...
DATE: Nov 14, 2008
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BERLIN (Reuters) - Germany fell into recession in the third quarter when its economy shrank by a much sharper than expected 0.5 percent, and a top official said the outlook for final three months of 2008 is little better.
The contraction in gross dom...
DATE: Nov 14, 2008
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The fallout from the turmoil on the global markets will result in less competition for Bermuda reinsurers from the capital markets.
That is the view of XL Capital Ltd. chief executive officer Michael McGavick, who believes a combination of factors wi...
DATE: Nov 14, 2008
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AUTHOR:
Jonathan Kent
Mello Jones & Martin (MJM) has appointed of Honor Desmond-Tetlow to its litigation team.
An experienced attorney, Ms Desmond-Tetlow will advise on all areas of matrimonial and family law and in general civil litigation.
Prior to joining MJM, Ms Desmo...
DATE: Nov 14, 2008
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WASHINGTON (AP) — Several prominent hedge fund managers told Congress yesterday they support a new central exchange to open the murky world of some complex investments partly blamed for the global financial crisis, but stopped short of endorsing stri...
DATE: Nov 14, 2008
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XL Capital chief executive Michael McGavick says his company is competing well in the insurance market and is hopeful that its progress will eventually be reflected in the company's share price.
He also told The Royal Gazette the strategic review of ...
DATE: Nov 14, 2008
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AUTHOR:
Jonathan Kent
