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Fitch Ratings has affirmed Butterfield Bank’s viability rating at “bbb-” and says it expects the bank’s earnings to improve in the coming years. Fitch has a positive view on the Butterfield’s “strong market position, liquid balance sheet, and solid ...

OSLO (Bloomberg) — Seadrill Ltd, the offshore rig company domiciled in Bermuda, said operating earnings beat forecasts as the company deepened costs cuts to weather a market downturn provoked by the collapse of oil prices. Earnings before interest, t...

Financial services firm Estera last night celebrated its independence with a party at the Bermuda National Gallery in Hamilton. But the company — which was Appleby Fiduciary Services until a management buyout at the start of the year — said it would ...

LONDON (Bloomberg) — The global fight against corruption should focus on major jurisdictions rather than bullying small territories, the heads of government of two offshore centres told world leaders. Addressing an anti-corruption summit in London ye...

In the second of a two-part series, Stephanie Paiva Sanderson, Corporate Attorney and Chair of the Industry/Government Joint Committee on Fatca and CRS analyses recent developments in the global effort to increase transparency and how Bermuda is part...

David Cameron, the British Prime Minister, yesterday admitted some Overseas Territories are ahead of the UK in financial regulation. And Finance Minister Bob Richards said he had no doubt Mr Cameron meant Bermuda. Mr Richards, who attended the UK’s a...

KINSHASA (Bloomberg) — Democratic Republic of Congo’s state-run miner Gecamines said it wasn’t informed about the sale of one the country’s biggest copper projects by Freeport McMoran and it plans to investigate the deal in order to “assert its right...

The deputy managing director of Butterfield Bank’s Cayman operation has stepped up to the top job. Michael McWatt has taken over as managing director from Conor O’Dea, who has retired from the role. Michael Collins, CEO of the Butterfield Group, said...

Nordic American Tankers Ltd, the Bermudian-based oil tanker operator, has reported first-quarter earnings of $29.3 million. The company is in the process of acquiring four existing Suezmax tankers to add to its fleet, bringing its total number of tan...

Australia is to hit multinational giants with a new diverted profits tax to crack down on tax avoidance using jurisdictions like Bermuda. The new tax — to be introduced next year — will slap big companies with a 40 per cent tax on profits shifted off...