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The Bermuda Commercial Bank (BCB) has bought up a London-based finance company. BCB has acquired equity and convertible loan notes from its parent Somers Ltd in the Private and Commercial Finance Group (PCFG). It is the intention of the bank to conve...

Bank of Butterfield spend about $350,000 buying back 204,945 of its common shares during August. The company repurchased the shares at an average price of $1.737 per share. Butterfield’s shares yesterday closed up one cent (0.6 per cent) at $1.80.

A new programme designed to inspire a new generation of entrepreneurs will be unveiled tonight. Gary Schoeniger, US-based co-founder of the Ice House programme, has travelled to Bermuda to launch a series of classes. Mr Schoeniger said that as — trad...

David Pugh is to step down as chief financial officer of Argus Group later this month ahead of his retirement in January next year. Mr Pugh, who has worked for the insurer for nearly 33 years, will step down after the Argus annual general meeting on ...

Rum company Gosling’s yesterday raised a glass after its iconic Dark ‘n’ Stormy cocktail came 11th in a round-up of the top 50 cocktails. Prestigious industry magazine Drinks International polled the top 50 bars in the world from a previous poll to f...

A water supply pipeline loop around Somerset Island has been completed by Watlington Water. The company has installed more than 40,000 feet of new pipeline in the western parishes since July 2010, and finished the Somerset loop earlier this year, acc...

Insurance group BF&M yesterday posted profits of $11.4 million for the first six months of the year. The figure is more than $6 million down on the same period last year. But BF&M president and CEO John Wight said: “Financial results in the first hal...

The owners of the cargo ship Bermuda Islander yesterday said that their service would be unaffected by next month’s America’s Cup races. The Bermuda Islander is due to arrive in Hamilton on Thursday, October 15 — when the inaugural races take place, ...

A luxury alternative to a hotel has reopened after a $5.5 million major makeover. Inverurie Executive Suites on Paget’s Harbour Road has been redesigned with the executive traveller in mind. “We see a requirement for a business-orientated hotel that’...