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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...

LONDON (Bloomberg) — Freeport-McMoRan Inc agreed to sell its Democratic Republic of Congo copper mine to China Molybdenum Co for $2.65 billion as the Phoenix-based company reduces debt racked up in the commodities boom. China Molybdenum will acquire ...

Bermuda yesterday figured in a list of more than 200,000 shell companies set up by a Panamanian law firm. Nearly 150 Bermuda entities are named in the massive leak of documents from Panama lawyers Mossack Fonseca, dubbed the Panama Papers. And the la...

The parent company of Bermuda Commercial Bank has made an investment in a British law firm that specialises in alternative assets such as hedge funds. Somers Ltd, a financial services holding company based in Bermuda, said today through a statement f...