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S&P Ratings Services has affirmed Butterfield Bank’s counterparty credit rating of A-, citing strong capitalisation. However, the ratings agency has a negative outlook on the bank’s ratings, because of the weakness in the Bermuda economy and the pote...

HSBC Bermuda staff visited residents at some of the Island’s rest homes this week. Employees split into groups and visited residents at Packwood Home, Lorraine Rest Home and Matilda Smith Williams Home as part of HSBC Bermuda’s Staff Community Action...

Butterfield Bank spent $1.84 million buying back nearly 1.5 million of its own shares in September. In a filing with the Bermuda Stock Exchange (BSX) yesterday, the bank said it bought for Treasury 1,494,678 common shares at an average cost of 1.232 ...

Bacardi USA has sold its iconic Bacardi Tower and Museum buildings in Miami to an arts foundation. The sale by the Bermuda-based beverage giant will see the two buildings encompassing 3.3 acres on Biscayne Boulevard, handed over to the National Youn...

Picture it — over 1,000 females of all ages running and walking to show their support for women’s empowerment and education. That’s exactly what will happen on Sunday during the PartnerRe Women’s 5K Run and Walk, a fundraiser this year for the Women...

Belco has announced it will no longer fight the Government’s decision to keep the company from raising its electricity rates. The company submitted an application to the Energy Commission last October requesting permission to increase rates over a t...

Nearly a year after the Energy Commission denied Belco’s request to raise electricity rates so it could build a new power station, the company says it’s giving up its legal battle against Government. The company had sought a judicial review of the d...

Residents facing financial hardship have pulled nearly $1 million out of their company pension plans with Argus. The company said half of the withdrawals were said to be intended for educational purposes. Pension withdrawals are allowed under Governm...

Argus Group warns that the reduction in work permit holders on the Island is going to lead to even higher health costs in Bermuda, and that our system of health insurance is “no longer sustainable”. The insurance company also said that in the continu...