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Risks to Bermuda’s banking sector have stabilised thanks to a gradually strengthening economy helped by the island’s hosting of the America’s Cup. That is the view of analysts from Standard & Poor’s Rating Services, who believe Bermuda is in the latt...

Banks are suffering the biggest pressures since the recession hit in 2008, a report from professional services firm PwC said yesterday. A still struggling global economy, poor business performance and risk from cyberattacks as well as increased regul...

New legislation that will allow the Minister of Finance to temporarily take over a failing bank has been passed by the House of Assembly. Detailing the Banking (Special Resolutions Regime) Act 2016, the finance minister said it was intended to provid...

Dear Sir, War is an extremely lucrative business for banking in the new world order: loans for destruction, loans for reconstruction, loans for controlling people. In other words, “The New World Order”. What is also important is to have belief in the...

HSBC Bermuda and Clarien both said yesterday they do not charge fees of the type introduced at the start of the year by rival Butterfield Bank. Butterfield imposed a “statement imaging fee” of $2 a month from the start of this year for making persona...

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...

Bernie Sanders has been advancing in the Democratic presidential polls. He and Hillary Clinton are in a statistical tie in Iowa. The Vermont senator has also widened his lead in New Hampshire. The Sanders surge comes on the heels of a January 5 speec...

Clarien Bank will not increase its Bermuda dollar base lending rate in the wake of the US Federal Reserve yesterday announcing it was raising interest rates by 0.25 per cent. The bank said it will “continue to monitor changes in the global interest r...

Tougher international rules to combat money-laundering and other crime have hit Bermuda bank customers, the Island’s banking industry body said yesterday. The Bermuda Bankers’ Association (BBA) said that banks are now asking for additional informatio...

Friends of paralysed shooting victim Ralph Burrows, who are seeking to bring him mobility with a motorised stand-up wheelchair, are pressing on with their donation plans after a bank account setback. “If it’s worth having, it’s worth fighting for,” v...

Clarien Bank Ltd has donated $75,000 to local charities through the Clarien Foundation. The bank announced that it had donated $50,000 to the Reading Clinic to support the I-Play early childhood development programme, along with $15,000 to the Menuhi...

Insurance firms will open their doors this morning to help clients who may have suffered hurricane damage. Colonial and Argus both opened for business from 8.30am and BF&M opened at 8am. A spokesman for Colonial said: “As long as the Emergency Measu...