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Anyone who says it’s not possible to build a global business empire after starting out in tiny Bermuda should take a look at Ace Ltd. Last week’s announcement that the company had agreed to buy the American insurance powerhouse Chubb in a mind-boggli...

Italian investment group Exor yesterday pledged to make reinsurance firm PartnerRe bigger if it successful in its $6.8 billion takeover bid. The firm’s chairman and CEO John Elkann said: “We are business builders. If you look at our history, we have ...

Drinks giant Bacardi has bought up a Swiss-based rum maker. Bermuda-based Bacardi has bought Banks Rum, a premium series of blends founded in 2010 by master blender Arnaud de Trabuc. The award-winning Banks range, which features two main rums as well...

Italian investment giant Exor has petitioned employees at takeover target PartnerRe to back its bid for the company. Exor has written to workers at the Pembroke-based company who are also shareholders asking them to vote against a rival bid by Axis, ...

Don’t expect interest rates to bounce back sharply any time soon. That’s the advice from HSBC’s global head of fixed-income research Steven Major, who expects predicts that the US Federal Reserve will not starting raising rates until December. London...

The use of phones and tablets to make business payments is on the increase in Bermuda, according to the Island’s largest bank. HSBC said its HSBCnet mobile, introduced to the Island last year, was becoming popular with corporate treasurers and chief ...

A Bermuda bank has backed the arts by awarding scholarships to a trio of students involved in the creative arts. Studio art student Nalani Dowling, videography and photography student Kyle Simmons and singer Kioshi Burgess will get support from Clar...

Two Bermudian students yesterday received scholarships in an awards ceremony hosted by the Ace Foundation — Bermuda. Jacqueline Riley Correia was unveiled as the 2015 Robert Clements/Ace Scholar, while Shannon Davis was the 2015 ACE/Bermuda College E...

Insurance firm Ace has agreed to buy out a major US-based insurer in a $28.3 billion deal. The move means Ace, which has an office in Bermuda, will have a 70 per cent stake in New Jersey-based Chubb after the deal closes. The new firm will use the Ch...

Digicel is on the move — to a former clothing store. The firm — which already has a store on Hamilton’s Church Street — is set to move into the former Makin’ Waves store on the same street. The storefront has already been painted in Digicel’s corpora...

Power firm Belco has given Government’s new electricity sector policy its cautious backing. The news came after Government on Friday said it wanted high-quality, low cost power services — as well as methods that were kind to the environment, secure a...