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Bermuda is to explore the possibility of investment and business opportunities with Iran, following the lifting of UN sanctions against that country earlier this year. The Middle East country is hosting the Iranian Aviation Symposium between April 25...

NEW YORK (Bloomberg) — Two units of Cayman National Corp pleaded guilty to helping US clients evade taxes and hide more than $130 million in offshore accounts as a Justice Department crackdown on tax cheats expands beyond Switzerland. Cayman National...

Bermuda notched up the highest number of merger and takeover transactions for five years in 2015. A total of 489 deals took place, with the combined value of $79.17 billion up 41 per cent up on the previous year and the largest percentage increase of...

A bid is being made to bring more jobs to Bermuda by boosting the presence of hedge funds. Island professionals are to combine to form a branch of the Alternative Investment Management Association to attract the hedge-fund sector back to Bermuda. Cra...

Teekay Corporation swung to fourth-quarter net income of $38.2 million from the loss it reported in the same period a year earlier. The Bermudian-based company said it had net income of 52 cents per share. Earnings, adjusted for one-time gains and co...

Bermudian-based drinks giant Bacardi has asked a US government department to revoke its decision to grant the Cuban government the right to renew and maintain the trademark for Havana Club rum. The move is the latest in a long-running battle between ...

Jersey and Guernsey have had their long-term credit ratings cut by Standard & Poor’s Ratings Service, with both jurisdictions being lowered from AA+ to AA. The changes reflect concerns about increasing regulatory complexity and demands, with the rati...

A top executive from Bermudian-based drinks giant Bacardi has appeared before a US House of Representatives committee in a trademark battle with the Communist government of Cuba. Rick Wilson, Bacardi senior vice-president for external affairs, was ca...

The Bank of Butterfield is to close its London private bank. The bank said that the British-based Butterfield Private Bank’s “scale and scope were not consistent with Butterfield Group’s growth strategy”. A spokesman for the firm said that it would m...

The downgrading of Bermuda Commercial Bank by a ratings agency was yesterday criticised by Peter Horton, the bank’s chief executive officer. Mr Horton said that the decision by Moody’s to lower the credit rating of BCB after it bought up 75 per cent ...