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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 ...

A Bermuda lawyer is to discuss the possible abolition of death taxes at a major international conference tomorrow. Peter Pearman, a director in the private client and trust department of Conyers Dill & Pearman, will examine death taxes being phased o...

Ratings agency Moody’s yesterday downgraded Bermuda Commercial Bank’s long term deposit and issuer ratings. The agency set BCB at Ba3, down from of the previous Ba2 rating, while its stand-alone baseline credit assessment dropped from ba2 to ba3 and ...

NEW YORK (Bloomberg) — Lazard Ltd, the investment bank domiciled in Bermuda, said fourth-quarter profit fell 8.1 per cent as currency fluctuations and market turmoil pushed asset-management and financial-advisory revenue lower. Earnings beat analysts...

A major sector of the banking industry in the Caymans could be wiped out by tough regulations designed to fight money-laundering. The number of Class B banks registered with the islands’ regulator has fallen by 14 to 184 over the last year alone. Cla...

Bermuda-based drinks giant Bacardi has demanded documents from US President Barack Obama in a row over a US decision to grant a licence to the Cuban government to use a trade name. Bacardi has filed a freedom of information request asking for documen...

International law firm Harneys has boosted its Bermuda corporate services business with a new hire. Kim Armstrong has joined the firm’s fiduciary services group as senior corporate administrator. Ms Armstrong has 16 years’ experience in corporate ser...

Business leaders have painted a bleak economic picture for 2016, according to a new survey by professional services firm PwC. And the level of worry about the future among company leaders is at its highest level for five years. The global confidence ...