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Hamilton’s busy streets in the final week of Christmas shopping are not indicative of the true state of retail sales, with the latest official figures continuing the picture of a decisive softness in local retail spending since the summer of 2021. Sh...

The Federal Reserve continued its moves to slow the economy and hold back inflation after the latter’s earlier four-decade high. And it didn’t take long for Bermuda’s Bank of N.T. Butterfield to react. But the Fed slowed its hand, this time imposing ...

In response to yesterday’s 75 basis point increase in the target range of the US Federal Funds Rate, the Bank of N.T. Butterfield & Son Limited announced that it is adjusting its base interest rates on loans by a quarter of a percentage point (0.25 p...

Bermuda’s banking sector recorded net after-tax income of $86.3 million in the second quarter of the year, the Bermuda Monetary Authority has reported. The BMA, in its quarterly banking digest, said that it was an increase of 36.6 per cent, or $23.1 ...

Bermuda’s $22 million revenue loss in aircraft registry receipts as a result of the withdrawal of Russian aircraft certification business, can be covered by better than expected tourism receipts, a rating agency has declared. It was a position taken ...

For the second time in little more than a year, Moody’s Investors Service has downgraded the rating for the Government of The Bahamas, this time because of a higher degree of government liquidity risk. The long-term issuer and senior unsecured rating...

Investments expert Caspar Rock gave a “gloomy outlook” on the coming year’s global economy, predicting recession in the developed world. Mr Rock, chief investments officer at Schroders Wealth Management, delivered the grim assessment at the Schroder...

There appears to be some relief in sight for importers and eventually consumers, as there are signs that the costs of containers across major shipping routes are plunging, The Economist is reporting. Analysts believe it may mean some relief for globa...

A KBRA rating agency report on credit risks suggests that the Federal Reserve’s “near singular focus over the near term on taming inflation runs the risk of overshooting its goal of curtailing demand, thereby increasing the risk of a hard landing.” T...

This may not be electrifying news to island residents, but Bermuda has been found to be the most expensive place in the world to run appliances