Murrell is the former husband of ex-SNP leader Nicola Sturgeon, who suddenly resigned in 2023, shortly before she was arrested as part of the probe into the party’s finances
International News via Reuters:
Former Scottish National Party chief executive Peter Murrell was jailed for just over five years on Tuesday after admitting embezzling more than £400,000 ($540,000) of party funds to buy items such as cars, a motorhome and luxury goods.
Murrell is the former husband of ex-SNP leader Nicola Sturgeon, who suddenly resigned in 2023, shortly before she was arrested as part of the probe into the party’s finances. She was cleared of wrongdoing in March last year.
He had pleaded guilty last month to the offence and was jailed for five years and three months at Edinburgh High Court.
The judge, Andrew Young, said the sentence needed to serve as a deterrent to others.
The police investigation which led to the arrest of Sturgeon, the SNP’s longest-serving leader, along with the conviction of her former husband prompted embarrassing questions for the pro-independence party which has dominated Scottish politics for nearly two decades.
After Murrell’s plea, Sturgeon reiterated her innocence and said that she had “no knowledge or suspicion whatsoever that he was using SNP funds for personal purposes”.
Murrell had admitted embezzling £400,310.65 from the SNP between 2010 and 2023, using the money to buy several vehicles, as well as items from luxury brands such as Estee Lauder and Harrods.
Reporting by Michael Holden; editing by William James
The blue-chip FTSE 100 index fell 0.7% to its lowest since June 12 at 0919 GMT, while the midcap FTSE 250 fell 1.8% to its lowest since June 10
International News via Reuters:
London’s FTSE indexes dropped to a more than one-week low on Tuesday, tracking weakness in global markets as prospects of interest rate hikes dampened risk-taking, while investors remained keen on who would be Britain’s next leader.
The blue-chip FTSE 100 index fell 0.7% to its lowest since June 12 at 0919 GMT, while the midcap FTSE 250 fell 1.8% to its lowest since June 10.
• Heavy-weight precious and industrial metal miners fell 5% each and led sectoral declines, with Antofagasta down 6.5% and Fresnillo declining 5.6% as prices of gold, silver and copper slid.
• Under new U.S. Federal Reserve chair Kevin Warsh, traders are largely pricing in around two 25 basis point hikes by year-end — up from one earlier this month. Markets also see at least one 25 bp hike by the Bank of England in December, data compiled by LSEG showed.
• Bucking the trend were sectors perceived to fare better in times of economic uncertainty. Healthcare, pharma and consumer staples rose over 1% each.
• Local politics also remained in focus after prime minister Keir Starmer’s Monday resignation. His rival Andy Burnham is largely expected to succeed, after top contender former health minister Wes Streeting said he would endorse Burnham.
• Investors are keen on Burnham’s fiscal policies at a time public debt has soared to nearly 100% of economic output, which had complicated the work of six prime ministers before him.
• Meanwhile, data showed that the services sector contracted at the fastest rate in nearly three-and-a-half years in June.
• Among top movers, business supplies distributor Bunzl gained 3% after raising its annual revenue growth outlook following a strong first half, supported by robust demand in North America and some price hikes.
• Telecom Plus tanked 24% after announcing its five-year investment plan will slash near-term profits as the UK Utility group responds to intensifying competition.
Reporting by Johann M Cherian in Bengaluru; Editing by Joyjeet Das
Starmer’s decision to quit paves the way for an orderly transition of power, with Andy Burnham, the new member of parliament for Makerfield, his likely successor
International News via Reuters:
The British pound eased against a stronger dollar on Tuesday as investors awaited details on the replacement for Prime Minister Keir Starmer following his resignation, while a survey showed that business activity contracted this month.
Starmer’s decision to quit paves the way for an orderly transition of power, with Andy Burnham, the new member of parliament for Makerfield, his likely successor.
It is not yet clear if Burnham will face a formal leadership contest or if other possible candidates to replace Starmer will step aside. Burnham’s biggest potential rival, Wes Streeting, pulled out of a potential race on Monday, saying he would be backing Burnham.
“The path is paved for Andy Burnham to be the next prime minister and I think the market was relieved for that,” said Tommy von Brömsen, FX strategist at Handelsbanken.
“Going forward, focus will be on who will become chancellor (finance minister), but I think most are conservative enough not to cause havoc in the market. It’s not like we’re looking at another Truss moment,” von Brömsen added, referencing former Prime Minister Liz Truss’ short premiership in September 2022 that saw the pound fall to a record low against the dollar.
Traders on betting site Polymarket think it is a two-horse race for the new finance minister, with Streeting given an almost 70% chance and Ed Miliband nearly 20%.
“Streeting is generally considered a more market-friendly pick than Ed Miliband, reportedly the other main candidate for the job,” said ING FX strategist Francesco Pesole in a note.
Sterling was last down 0.2% against the dollar at $1.3222, just above its lowest since March of $1.31635 reached on Friday.
Against the euro, the pound was little changed at 86.27 pence.
SHAKY ECONOMY
The next prime minister is inheriting a stagnating economy, with business activity contracting in June at the fastest rate since April 2025, a survey showed on Tuesday, held back by a stuttering services sector.
S&P Global’s composite Purchasing Managers’ Index (PMI), which combines the services data with manufacturing, fell to 49.4 from 49.7, with the services PMI down to 48.7 from 49.3, its weakest since January 2023. Readings below 50 denote a contraction in activity.
“Business sentiment continued to be weighed down by political uncertainty in June according to S&P Global, so Keir Starmer’s decision to resign earlier this week could calm business fears of a messy leadership transition,” said Rob Wood, chief UK economist at Pantheon Macro.
“But huge uncertainty remains about Mr. Burnham’s policy platform, so we think that businesses will remain hesitant over the coming months, weighing on GDP growth.”
Reporting by Samuel Indyk; Editing by Andrew Cawthorne
OBA MP Linda Smith pays tribute to Sir John Swan and his role in building a vibrant economy
Sir John was charismatic and comfortable anywhere in Bermuda and around the world.
He led Bermuda during the boon days of a thriving economy and vibrant international business and tourism activities.
Sir John’s time as Premier included the cusp of the end of the cold war. A time when Bermuda along with the rest of the world was making the transition from what was, to what would be.
Thanks to Sir John and those he surrounded himself with, Bermuda increasingly enjoyed a high profile on the world stage as its historic role as the Gibraltar of the North Atlantic appeared to be coming to an end.Although it was a time of uncertainty, it was thrilling to be able to experience those days as a reporter.
In April 1990, Bermuda hosted a highly successful summit meeting between British Prime Minister Margaret Thatcher and U.S. President George H.W. Bush Sr.
The focus of the summit was on changes in Eastern Europe, the demise of the Soviet Union and the Iran Contra Affair over illegal weapons trades.
As I recall, the visit by the two leaders was over a few days that included press conferences, tours, tree planting, kite flying, (Good Friday), and a walk about on Front Street.
It was the Front Street event that really thrilled everyone when the British Prime Minister and the U.S. President broke ranks with their respective security details and moved in closer than planned to mingle with the crowds.
I too was able to get closer to the action than I ever thought possible. As Prime Minister Thatcher was boarding her plane to leave Bermuda, I shouted a question to her. The Prime Minister signaled to the Premier as to whether she should come back down the steps to speak with me. Sir John nodded yes, and as I interviewed the Prime Minister, photographer Gene Ray shot the picture I will always cherish, a much younger me interviewing Prime Minister Thatcher with our Premier looking on.
I remain grateful for that opportunity and join many Bermudians in thanking Sir John for all that he did for Bermuda, not only as Premier but also in the many years that followed. Sincere, condolences to his family and those closest to him.
The Marley Fragrance collection has expanded, with two new scents officially joining the lineup and making their way to Bermuda. The latest additions build on the brand’s connection to the legacy of Bob Marley, offering customers new fragrance experiences inspired by the spirit, culture, and influence of the Marley family.
Kendal Trott attended the launch at Brown & Co., where representatives shared details on the new fragrances, how they differ from the original collection, and the continued involvement of the Marley family in the brand’s development. They also discussed the global response to Marley Fragrance since its debut and what customers can expect when exploring the collection in Bermuda.
Housing and Municipalities Minister Zane DeSilva said the agreement marked a ‘major milestone’ in the project to provide 84 homes for families most in need
The Bermuda Commercial Bank has approved a $64 million loan to the Bermuda Land Management Company to fund Government’s affordable housing programme. During a news conference today at BCB offices in Hamilton, Housing and Municipalities Minister Zane DeSilva said the agreement marked a ‘major milestone’ in the project to provide 84 homes for families most in need. Minister DeSilva said he is seeing more ‘middle class’ families on the housing wait list than ever before, hence the urgent need to build. Redevelopments at existing affordable housing sites are set to begin this August.
Andy Mielczarek, Executive Chair and CEO of BCB, said the agreement was struck through a desire to build a stronger community on a solid financial footing.
The Minister said the government secured a loan rate repayment in two blocks at 6% and 6.25%. He also provided some insight into current status of those waiting to find an affordable home on the Housing Corporation’s waitlist.
The ransomware group has posted more than 200,000 files on the dark web, the security researchers told Reuters
International News via Reuters:
Tata Electronics said on Monday it had detected a recent “cybersecurity incident”, after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group.
The ransomware group has posted more than 200,000 files on the dark web, the security researchers told Reuters.
“A few weeks ago, Tata Electronics identified a cybersecurity incident on some of our systems. Our response protocols were deployed immediately, and the incident has had no impact on our operations across businesses, which remain unaffected,” Tata Electronics told Reuters in a statement.
Apple was investigating the breach and a “full analysis was going on”, a source familiar with the matter said, adding that Tata had received a ransom demand related to the incident.
Apple did not respond to requests for comment. Tata Electronics declined to comment on the ransom demand.
The breach is the latest setback for Apple’s supply chain in India, where Tata faces scrutiny over alleged contamination of farmlands near one of its iPhone parts plants, Reuters reported.
Tata is emerging as one of Apple’s most important manufacturing partners outside China, an expansion that is a cornerstone of Prime Minister Narendra Modi’s push to make India an electronics manufacturing powerhouse.
Tata was hit by a cyberattack on its British Jaguar Land Rover group last year that resulted in a six-week output halt.
The Indian Computer Emergency Response Team, a unit under India’s IT ministry that oversees cyber incidents, did not immediately respond to Reuters emails seeking comment.
APPLE ‘FACTORYDATA’
World Leaks, which has previously claimed responsibility for a Nike break-in, said on its dark net website that it was publishing stolen data from Tata Electronics.
Reuters could not immediately verify the authenticity of the data and could not immediately reach World Leaks for comment.
The World Leaks website says the Tata Electronics data comprises more than 200,000 files totalling over 630 gigabytes. A database on its website shows several purported Apple files and folders, some titled “com.apple.factorydata”, and documents referring to “material specification”.
Indian cybersecurity researcher Rajshekhar Rajaharia, who reviewed the Tata files on World Leaks for Reuters, said they also contain emails, event logs spanning several years and passport copies of employees including foreign nationals.
Rajaharia has previously advised Indian police on cyber incidents.
The website is only accessible on the dark web, or dark net, beyond the reach of search engines.
A second security researcher who reviewed the data dump, Rakesh Krishnan, told Reuters it had been accessible on the dark web since at least June 10.
TESLA DOCUMENTS, ‘TRADE SECRET’
Tata also makes parts for Tesla, industry sources say.
One folder on the World Leaks database was labelled “NV36 Chargeport Controller – North America”, a purported reference to parts used in an upgraded version of Tesla’s Model Y SUV.
Another purported Tesla 2023 document described as “TRADE SECRET” showed certain drawings for its project Highland – a publicly known internal codename for its revamped Model 3 sedan.
Tesla did not respond to requests for comment.
Rajaharia also shared a screen recording of his review of the files. It showed a search for “Apple” returned 181 files and folders, while a search for “Tesla” returned files including what appeared to be manufacturing specifications and an assembly document dated May 2025.
Some files published by World Leaks carried footers saying, “This document contains proprietary and confidential information of Apple Inc.” and “information contained herein is deemed confidential, proprietary, and a trade secret of Tesla Inc.”
The breach highlights the vulnerability of global businesses to increasingly sophisticated cyber and ransom attacks.
Among the files was a 52-page document bearing Apple’s proprietary markings purportedly detailing quality inspection standards for iPhone circuit board components. There were also 33 files and folders for search term “Hosur” – the location of Tata’s main iPhone assembly plant in Tamil Nadu state.
Tata informed some employees at its iPhone assembly operations last week of the data breach, said a second industry source familiar with the matter.
Tata currently accounts for roughly a third of Apple’s iPhone production in India, with Foxconn making up the rest.
Reporting by Munsif Vengattil, Aditya Kalra, Aditi Shah and Raphael Satter; Editing by Tony Munroe and Alexander Smith
In early trading, prices had climbed to $82.30 because of threats by U.S. President Donald Trump to restart the Iran war, and Tehran’s announcement that it had again closed the strait
International News via Reuters:
Oil prices settled more than 3% lower on Monday, as supply concerns eased after U.S. Vice President JD Vance said progress has been made in talks with Iran and the Strait of Hormuz was open.
Brent crude settled down $2.67, or 3.31%, at $77.90 a barrel. In early trading, prices had climbed to $82.30 because of threats by U.S. President Donald Trump to restart the Iran war, and Tehran’s announcement that it had again closed the strait.
U.S. West Texas Intermediate crude futures expired on Monday and settled at $74.82 a barrel, down $1.78 or 2.32%. The more-active August contract lost $1.99 and settled at $73.86 a barrel.
High-ranking U.S. and Iranian officials wrapped up their first round of talks in Switzerland on Monday, mediators said.
The discussions began on Sunday under the terms of a memorandum of understanding reached last week to extend a tenuous ceasefire from April for at least another 60 days.
The United States authorized Iranian oil sales on Monday. The general license, announced by the Treasury Department, allows the sale of crude oil and petrochemical and petroleum products of Iranian origin through August 21.
Meanwhile, Iran did not negotiate on its nuclear program and did not accept any new commitments in Sunday’s talks with the U.S. in Switzerland, Foreign Ministry spokesperson Esmaeil Baghaei told the official IRNA news agency.
Crude inventories in the U.S. government’s emergency stash fell by 9.05 million barrels last week, the third steepest draw on record. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility to help push down fuel prices.
SUPPLY RECOVERY REMAINS CHALLENGING
Iran has resumed exports of its oil, which were blocked earlier this month due to the U.S. naval blockade, UBS analyst Giovanni Staunovo said.
“The ‘release’ of those barrels is additional supply for the market,” Staunovo added.
Two crude tankers with just under 2 million barrels of oil sailed through the Strait of Hormuz on Monday, ship tracking data showed, in a sign that traffic was picking up following weaker flows on Sunday due to concerns over passage through the waterway.
The United Arab Emirates, Kuwait and Iraq have offered more oil to customers in the past week.
Crude oil exports from Saudi Arabia fell for a second straight month in April and hit a record low of 3.99 million barrels per day, compared with 4.974 million bpd in March, according to Joint Organizations Data Initiative (JODI) data.
Iraq plans to restore crude production gradually to between 4.2 million and 4.3 million barrels per day, its deputy oil minister for upstream affairs said on Sunday.
ANZ expects around 2 million to 3 million barrels per day to be restored in the first four weeks.
Recovery will remain challenging, it said, with a further 2 million to 3.5 million bpd potentially recoverable in the third quarter of 2026 subject to stability, while 1 million to 2 million bpd of supply could be permanently or semi-permanently lost.
“Early gains will be driven by logistics (shipping) rather than production,” ANZ added. “Later gains will depend on upstream and refinery recovery. Full restoration is unlikely this year.”
Reporting by Georgina McCartney in Houston, Anushree Mukherjee in Bengaluru, Stephanie Kelly in London, Mohi Narayan in New Delhi and Florence Tan in Singapore; Editing by Muralikumar Anantharaman, Jan Harvey, Sanjeev Miglani, Will Dunham and David Gregorio
As schools in France closed or modified timetables, forecasters in Britain predicted temperatures could break records for June this week
International News via Reuters:
At least 18 people died in France, including two children left in a hot car, as a heatwave hung over Europe, smashing temperature records in several cities on Monday.
As schools in France closed or modified timetables, forecasters in Britain predicted temperatures could break records for June this week.
The temperature in Bordeaux in France’s western wine country rose to 41.9 degrees Celsius (107.4 degrees Fahrenheit), breaking a record set last August. In Poitiers in central France it reached 41.2 C, beating a previous high set in 1947.
In San Sebastian, in Spain’s traditionally cooler north, the temperature was set to reach 40 C, more than double the city’s historic average for June 22 according to the Reuters Climate Monitor, which showed Europe as the continent furthest from its historic norm on Monday.
An April report by the World Meteorological Organization found Europe is warming at more than double the global rate.
TWO CHILDREN DIE IN HOT CAR
First responders were unable to resuscitate two children, aged 2 and 4, who were found unconscious by their mother in the family car outside their home, said a prosecutor in Carpentras, southeast France.
Three elderly people, aged between 80 and 95, died over the weekend in the Bordeaux region from health issues caused by the heatwave, local government official Sophie Brocas told France TV late on Sunday.
“Swim only in places that are supervised,” French Civil Safety service spokesperson Jerome Boulanger said after 13 people were reported drowned from Sunday into Monday. Drowning deaths spiked by 172% in France last year during heatwaves as swimmers tried to cool off.
The heatwave affecting large parts of Europe is known as an Omega block because it takes the shape of the Greek letter, with a bulge of hot air in the middle and cooler air either side, said Clair Barnes, a research associate in extreme weather and climate at Imperial College in London.
“It’s drawing warm air up from North Africa, from the Sahara, and that’s why we have this really intense heat. It’s very slow moving and it means there’s kind of no wind, no breeze for respite,” she said.
Heatwaves and storms are being intensified by climate change, pushing temperatures higher and causing more rainfall, she said.
UK HEAT WILL BREAK JUNE RECORD SET IN 1976
The Met Office, Britain’s national weather forecaster, said on Monday that a four-day heatwave there could push temperatures above 39 C in some places, easily breaking the June record of 35.6 C set in 1957 and 1976. Just a few weeks ago, Britain had shattered its record high temperature for May.
“Thirty-six degrees is going to be disgusting,” said data scientist Lewis Jennings, out walking in central London.
Paris was due to register its highest temperature for June, with the mercury reaching 38.4 C, according to preliminary numbers from Meteo-France.
“We are seeing temperatures between 5 and 10 degrees above normal for this time of year, and in some northern areas even more than 10 degrees above average,” said Rubén del Campo, spokesperson for Spain’s AEMET weather agency.
RED HEATWAVE ALERTS ACROSS ITALY
Italy on Monday issued heatwave red alerts for 12 cities.
Utility Iren was doubling workers’ shifts and adding generators to address sporadic power cuts in Turin as the electricity grid came under strain, a spokesperson said.
Birds such as swifts, swallows, sparrows and starlings, which make their nests in the eaves of roofs, have been particularly affected by abnormally high temperatures, said Romaine de Jaegere, founder of the Centre for the Rehabilitation of Animals Living in the Wild refuge in Temploux in Belgium.
“Temperatures on the roofs can sometimes reach 50, even 60 degrees Celsius. So they prefer to jump rather than let themselves die and literally cook in their nests,” De Jaegere said, adding that the shelter had received 150 animals in the last three days.
Reporting by Lewis Macdonald and Makini Brice in Paris, Hugo Lhomedet in Gdansk, Emma Pinedo in Madrid, Zoran Mikletic in Brussels, Sarah Young in London, Francesca Landini and Giancarlo Navach in Milan, and Alvise Armellini in RomeWriting by Charlie Devereux Editing by Alexandra Hudson, Milla Nissi-Prussak and Andrew Heavens
Starmer, the first non-Conservative prime minister since Britain voted to leave the European Union, rejected suggestions that it could rejoin the 27-member bloc, but he had pushed to improve relations after the trauma of Brexit
International News via Reuters:
Outgoing British Prime Minister Keir Starmer announced his departure on Monday amid plunging approval ratings, but there were warm words from European leaders who had generally found him easier to work with than his recent predecessors.
Starmer, the first non-Conservative prime minister since Britain voted to leave the European Union, rejected suggestions that it could rejoin the 27-member bloc, but he had pushed to improve relations after the trauma of Brexit.
He also kept up Britain’s central role in the region’s support for Ukraine, alongside his fellow “E3” leaders, French President Emmanuel Macron and German Chancellor Friedrich Merz.
“It can take many leaders years to grow into the statesman you became in just two years,” European Commission President Ursula von der Leyen said on the social media platform X. “European and Ukrainian security is stronger because of you. Thank you, dear Keir.”
STARMER ONE OF MANY TO SUFFER POPULARITY CRISIS
Starmer came to office in 2024, sweeping aside a deeply unpopular government that presided over a slumping economy and a nation still divided by the bitter Brexit referendum campaign.
But like other European leaders, Starmer struggled to win over voters disillusioned with mainstream parties and increasingly drawn to insurgent anti-establishment parties that promised to shake up politics with bold measures.
Away from home, his perceived lack of charisma appeared to matter less than it did at home, where he was frequently accused of lacking conviction.
“I want to acknowledge the significant role Keir played in resetting the Irish-British relationship as well as relations between the UK and the European Union during his time as prime minister,” Irish Prime Minister Micheál Martin said in a statement.
Starmer’s support for Ukraine maintained the line followed by Conservative predecessors such as Boris Johnson who threw London’s support behind Ukrainian President Volodymyr Zelenskiy after Russia’s assault on Kyiv in 2022.
Zelenskiy thanked Starmer “for always being in touch, always engaged, and always striving to do what is needed” and said their conversations had always been “filled with real substance”.
“Keir, you are always a welcome guest in Ukraine,” he said on X.
A German government spokesperson said Starmer had always been “a reliable and close partner”.
However, there was no immediate personal statement from Merz, himself struggling with record-low ratings that have prompted press speculation about his own future.
Across the Atlantic, the farewell was less warm.
U.S. President Donald Trump offered a dismissive send-off, announcing a day before the resignation that Starmer would leave, and saying he had “failed badly” on the key issues of immigration and energy, where Trump disagrees sharply with British government policy.
Russia, which considers Britain one of its main enemies, not least for supporting Ukraine, claimed credit for Starmer’s departure through a post on X by Russian President Vladimir Putin’s special envoy Kirill Dmitriev.
“We did this jointly,” it read, “by exposing Starmer’s warmongering and consistently wrong policies on immigration, crime, energy and economy.”
Reporting by James Mackenzie; Editing by Kevin Liffey
Bermuda’s women’s tennis team secured a hard-fought ninth-place finish at the Billie Jean King Cup Americas Group III tournament following a tense 2-1 victory over Suriname in El Salvador.
Entering the 9th to 10th classification play-off in Santa Tecla, the four-woman squad of Asia-Leigh Hollis, Alexcie Burrows, Nadhira Durham, and player-captain Shelby Madeiros knew there was little room for error.
Captain Madeiros set the perfect tone in the opening singles rubber, producing a commanding performance to sweep past Suriname’s Faith Bab. In a brisk 48-minute encounter, Madeiros’ tactical precision earned her a comprehensive 6-2, 6-2 victory to hand Bermuda the early advantage.
Suriname hit back immediately, however. Kayla Currie proved too strong for Bermuda’s Nadhira Durham, leveling the tie with a dominant 6-0, 6-1 win in just 48 minutes to set up a winner-takes-all doubles decider.
With the tie hanging in the balance, Madeiros returned to the clay alongside Burrows to face the Surinamese tandem of Bab and Cybelle Ferrier.
Under immense pressure, the Bermudian duo showed superb chemistry and resilience, breaking their opponents at crucial junctures to claim a tight straight-sets victory, 6-4, 6-4.
The decisive doubles win caps off a battling week for the island nation, ensuring they finish their regional campaign on a triumphant note.
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