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Bear Stearns has been ordered by a US court to pay nearly $160 million to investors in a collapsed hedge fund that was administered and audited in Bermuda. The Manhattan Investment Fund folded seven years ago, leaving investors with losses of more th...

TORONTO (Reuters) — The Toronto Stock Exchange’s main index rose for a third-straight session yesterday, boosted by gains in energy and financial issues.The Toronto Stock Exchange S&P/TSX composite index closed up 61.36 points, or 0.5 percent, at 13,...

LONDON (Bloomberg) — Brit Insurance Holdings Plc, a Lloyd’s of London insurer, rebounded to a profit in the second half of last year on lower weather-related claims.Net income was $59.3 million ($114 million), or 18.18 pence a share, from a loss of $...

Tyco was rocked by the $600-million theft case brought against its former chairman and chief executive Dennis Kozlowski and former chief financial officer Mark Swartz that eventually led to their jailing in the US after a 2005 re-trial. Learning from...

Bermuda-based First Atlantic Commerce Ltd. (FAC), which specialises in e-commerce payment solutions, is to expand into Mauritius to offer its clients greater global reach. The company has announced the launch of its “Pan Asian solution” which FAC say...

Butterfield Bank has now opened its first fund service office in North America with a dozen employees. By the end of this year the new office in downtown Halifax is expected to employ 40 people for Butterfield Fund Services and may eventually may hav...

HONG KONG (Bloomberg) — In Hong Kong one of the city’s largest office landlords, Bermuda-incorporated Hongkong Land Holdings Limited, posted a 31 percent gain in underlying profit last year on increased rents.Profit excluding property revaluations ro...

FRANKFURT (Reuters) — The European Central Bank raised its key interest rate to a new five-year high of 3.75 percent yesterday and signalled no immediate end to rate increases in the euro zone.ECB President Jean-Claude Trichet told a news conference ...

NEW YORK (Bloomberg) — Dow Jones & Co. said advertising revenue at the Wall Street Journal fell 10 percent in February, the most in almost two years, in a sign the slimmer version of the newspaper has yet to lure back advertisers.Pages sold slid 6.6 ...

Tyco shareholders have agreed a reverse one-for-four stock split ahead of the company’s planned break-up into three publicly traded companies. The move will have the effect of reducing the number of common shares issued and outstanding at present fro...