Thursday, October 29, 2026
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Factories face soaring costs as Iran war causes supply shocks

Energy shock lifts input costs and squeezes euro production while Asia expands through stockpiling

International News via Reuters:

The economic shock from the Iran war hit European factories last month, suppressing demand for their goods and pushing up raw material costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed on Monday.

The U.S.-Israeli conflict with Iran, which began in late February, has upended trade, rattled financial markets and raised concerns over global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas shipments.

Monday’s surveys came after the heads of the International Energy Agency, International Monetary Fund, World Bank and World Trade Organization warned the war was straining global energy supplies.

S&P Global’s Eurozone Manufacturing PMI fell to 51.6 in May from April’s near four-year high of 52.2, but ahead of a preliminary estimate of 51.4.

A reading above 50.0 indicates growth.

“Although euro area manufacturers reported an expansion for a fourth successive month in May, the sector is showing signs of struggling under the weight of rising prices and supply disruptions emanating from the war in the Middle East,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.

In Germany, Europe’s largest economy, the manufacturing sector stalled while French factories saw a contraction for the first time since November.

The European Central Bank will hike its deposit rate this month and at least once more this year to try to stop higher energy prices feeding into core inflation, according to a majority of economists polled by Reuters in May.

Official data due on Tuesday is expected to show inflation rose further above the ECB’s 2% target last month.

British factories raised their prices at the fastest rate since June 2022 last month in response to a big increase in costs.

ASIAN BUFFERS

Still, factory activity expanded in most Asian economies.

China’s private sector gauge grew for a sixth straight month and South Korea’s hit the fastest pace in five years, highlighting a region-wide push to build buffers against potential conflict-led disruptions.

The RatingDog China General Manufacturing PMI, compiled by S&P Global, fell to 51.8 in May from 52.2 in April, but was slightly better than analysts’ forecast of 51.6.

That outcome contrasted with an official survey showing factory activity in the world’s second-largest economy stalled last month as new orders contracted and input costs kept rising.

Japan’s factory activity also expanded with the PMI at 54.5 in May, slowing from April’s more than four-year high of 55.1, though firms there reported the sharpest rise in input costs since September 2022 due to higher raw material prices.

South Korea’s PMI rose to its highest since March 2021 at 54.8 in May, up from 53.6, again underlining firms’ drive to lock in supplies.

In Vietnam, the factory PMI gauge rose to 52.8 from 50.5, while Taiwan’s rose to 56.1 from 55.3, surveys showed. The index for the Philippines jumped to 50.8 from 48.3.

Reporting by Leika KiharaEditing by Shri Navaratnam and Toby Chopra

UK blocks visits by left-wing US commentators Cenk Uygur and Hasan Piker

Britain’s interior ministry says presence ‘not conducive to public good’

International News via Reuters:

Britain has blocked Cenk Uygur, a left-wing Turkish-American media personality, and his nephew, Hasan Piker, a U.S. left-wing commentator and influencer, from entering the country to speak at events, both said on Monday. 

Uygur, who co-hosts the popular YouTube channel “The Young Turks”, and Piker said they had been barred because of their views on Israel.

Britain’s interior ministry said travel authorisation for “these individuals” had been cancelled as “their presence in the UK may not be conducive to the public good” in a statement that did not mention Israel. 

They had been listed to speak at the SXSW London festival later this week, and at the University of Oxford this weekend. 

“I’ve been banned for criticizing Israel. Are we free anymore?” Uygur posted, after he said he tried to board a flight. 

Piker said: “The UK has revoked my visa as well. All at the behest of Israel.” 

Piker had been due to speak at SXSW about “How the American Left Learned to Speak the Internet”. Uygur’s session was titled: “Techno-Feudalism is Here. Who Are the Lords?”

There was no mention of Israel in their sections on the website for SXSW London, which describes itself as a festival of “business, technology and creativity”.

Over the last year, U.S. President Donald Trump and Vice President JD Vance have raised concerns about what they say are infringements on free speech in Britain. 

In May, the British government barred 11 people from entering the country whom it described as “foreign far-right agitators”. They had been due to speak at an event organised by anti-Islam activist Tommy Robinson. 

Uygur, 56, attracts more than 200 million views a month through “The Young Turks”, according to the website for the SXSW London.

He was briefly a Democratic nominee in the 2024 U.S. presidential election. 

His 34-year-old nephew has a daily audience of 30,000 people on the live-streaming platform Twitch, according to the SXSW website. 

Reporting by Sarah Young, additional reporting by Sam Tabahriti; Editing by Andrew Heavens

Euro zone bond yields rise amid caution over potential US-Iran deal

Investors fear Strait of Hormuz reopening may ease inflation

International News via Reuters:

Euro area government bond yields rose on Monday as investors stayed wary of a potential U.S.–Iran deal to reopen the Strait of Hormuz, a development that could ease inflation pressures and reduce expectations for European Central Bank tightening.

Borrowing costs tracked moves in oil prices – which were up 2.5% on Monday, but still below $95 – seen as a proxy for future inflation.

The U.S. said it struck Iranian military sites at the weekend and Iran’s Revolutionary Guards said on Monday they had targeted a U.S. base in response, but President Donald Trump reiterated that Iran really wanted to make a deal. 

Money markets are pricing the ECB deposit rate at 2.60% by December, up from the current 2% and slightly above the 2.53% level priced in on Friday. They also indicated about an 80% chance of a first rise this month.

“A jaded cynicism has come over investors, and in the absence of a definite statement from Iran there is a tendency to downplay comments from the U.S. administration,” Paul Donovan, chief economist at UBS Global Wealth Management, said.

Germany’s 2-year yields <DE2YT=RR>, more sensitive to expectations for policy rates, rose 6 basis points to 2.59%. They reached 2.771% in late March, the highest since July 2024.

“Ultimately, hopes prevail that a possible framework agreement will pave the way for gradually normalising traffic in the Strait of Hormuz,” Rainer Guntermann, economist at Commerzbank, said.

Investors are also monitoring macroeconomic data for early signs of how the energy shock is affecting the economy, while waiting for next week’s ECB policy meeting.

Inflation in the euro zone’s four largest economies hovered above the ECB’s 2% target for a third straight month in May, preliminary data showed on Friday. 

Meanwhile, growth in manufacturing lost momentum in May as demand for goods stagnated and supply-chain disruptions linked to the Middle East war pushed input costs to their highest in four years. 

Germany’s 10-year government bond yield <DE10YT=RR>, the euro area’s benchmark, was up 5 bps at 2.98%. It reached 3.13% in late March, its highest level since June 2011.

Italy’s 10-year government bond yields <IT10YT=RR> rose 6 bps to 3.71%.

The yield gap of Italian government bonds versus bunds <DE10IT10=RR> was at 71 bps. It was at 63 bps before the attack on Iran and hit 103.62 in late March, the highest level since June 2025.

reporting by Stefano Rebaudo; Editing by Jan Harvey

Sterling little changed as markets await Iran updates

Oil futures jumped and higher rates have bolstered sterling

International News via Reuters:

The British pound was little changed against the dollar on Monday, remaining within its recent narrow range as investors awaited progress on peace talks between the U.S. and Iran. 

Negotiators from the U.S. and Iran are still working on a deal, but fresh attacks in the Gulf have challenged optimism about the reopening of the Strait of Hormuz, the key oil and gas artery that has been closed to most maritime traffic since the start of the war in February.  

Oil futures jumped on Monday but fell almost 20% last month, the biggest monthly drop since March 2020. 

Britain’s reliance on energy imports leaves it more exposed than the U.S. to higher fuel costs. While oil prices have fallen in recent weeks, they remain 30% higher than before the war.

On Monday, the pound was broadly flat against the dollar at $1.3460. Against the euro it was up 0.1% at 86.56 pence. 

“The pound has been quite resilient during the war,” said Tommy von Brömsen, FX strategist at Handelsbanken.

“What has supported the pound is the level of interest rates. Britain has a higher interest rate than most other countries.”

Prior to the war, the Bank of England had been expected to lower interest rates twice this year but markets quickly moved to price in rate hikes as investors believed that the BoE would need to take action to combat energy-driven inflation. 

Markets are now pricing in about 35 basis points of monetary policy tightening this year, implying one quarter-point hike and around a 40% chance of a second.

On Friday, BoE Governor Andrew Bailey said that allowing inflation to run above the central bank’s 2% target was justified, signalling there was no need to move quickly with interest rate hikes. 

Reporting by Samuel Indyk; Editing by Emelia Sithole-Matarise

Hamilton & Sousa Secure 11th in San Salvador

Bermuda’s Kyle Hamilton and Brandon Sousa ended their grueling international beach volleyball stint on a high, clinching an impressive 11th-place finish on the final day of the NORCECA Tour in San Salvador.

The Bermudian duo saved their most clinical performance for last, defeating A’jahnai Merchant and De Andrae Taylor of the U.S. Virgin Islands in straight sets (21-14, 21-18) during their classification playoff.

Set 1 (21-14): Hamilton and Sousa asserted early dominance on the sand. Aggressive serving and sharp transition defense forced critical unforced errors from the USVI pairing.

Set 2 (21-18): Merchant and Taylor mounted a spirited block at the net, but Hamilton’s composure up front and Sousa’s backcourt coverage safely navigated a tense finish.

The result provides a major confidence boost and vital ranking points for Hamilton and Sousa as they wrap up this competitive tour phase and look ahead to their next international block.

Two officers struck during stop and search collision

The Bermuda Police Service said the 22-year-old male rider was arrested and is due to appear in court

Full statement from the Bermuda Police Service:

Around 11:55 p.m. on Saturday, May 30, 2026, police officers were conducting stop-and-search operations along Crow Lane and Lane Hill in Pembroke.

Officers attempted to stop a motorcycle rider who failed to comply and subsequently collided with an officer who was on a police motorcycle.

The rider, later identified as a 22-year-old male, continued along the roadway before making his way onto Crossland Lane, Pembroke, where he dismounted from the motorcycle while it was still in motion.

The unmanned motorcycle then struck a second police officer, causing him multiple injuries. The officer was transported to King Edward VII Memorial Hospital for treatment and was later discharged, with further medical assessments scheduled.

Following a short foot pursuit, the subject was arrested for several traffic-related offences and taken into custody.

Subsequent checks revealed the male was riding while disqualified.

He is expected to appear before the courts in due course.

Suspect arrested in connection to Front Street assault

Assistant Commissioner of Police, Martin Weekes acknowledged incidents of this nature are concerning to the public, particularly when they occur in a busy public area

Full statement from the Bermuda Police Service:

The Bermuda Police Service can report that a suspect has been arrested in connection with the stabbing incident which occurred on Front Street, shortly before 2:00 p.m., Saturday, May 30, 2026.

Addressing the matter, Assistant Commissioner of Police, Martin Weekes, stated: “Early information suggests this may have been an isolated incident with the two injured men having been involved in an altercation with each other.”

“We recognise that incidents of this nature are concerning to the public, particularly when they occur in a busy public area.”

“However, we wish to reassure residents and visitors that officers will continue to patrol key areas to help ensure public safety across the island.”

Detectives are actively pursuing all lines of inquiry as the investigation into the circumstances surrounding the stabbing continues.

At this time, there is no information to suggest that this incident is linked to another similar incident which occurred during recent Bermuda Day celebrations, nor is there any indication that it is gang related.

We encourage anyone who may have witnessed the incident or who may have information relevant to the investigation, to contact Detective Inspector Tiffany Caisey on 717-2294 or via email tcaisey@bps.bm

If you’d prefer please call the main police number, 295-0011, 211 or the independent and confidential Crime Stoppers number, 800-8477.

Celebrating what makes every parish unique

The Bermuda Tourism Authority hosted a special screening event for 9 People. 9 Parishes., a global storytelling campaign celebrating Bermuda through authentic Bermudian voices from across the island’s nine parishes. 
The lively event, held at Barr’s Bay Park, featured a film screening, panel discussion, and conversations with those involved in the project.
Kendal Trott captured the atmosphere as guests gathered to celebrate Bermudian storytelling and culture. 
Organiser’s shared future plans for the series and its continued focus on highlighting Bermuda through the voices and experiences of its people.

‘What young people tell us about mental health’

Statement by Tinée Furbert, Minister of Youth, Social Development and Seniors

When young people speak honestly about mental health, adults have a responsibility to listen.

Over the past year, Bermuda’s young people have been doing more than speaking. From Bermuda College to Dr. E.F. Gordon Memorial Hall, they have been leading.

Through the Youth Mental Health Plan 2027 and its youth-led advisory structures, including the Youth Advisory Board and the Youth Advisory Working Group, young people have brought their experiences directly into national discussion. They have participated in school-based conversations, public debate, and direct engagement with Government leaders.

They want trusted adults who understand their world. They want parents and guardians equipped for honest conversations at home and in community spaces where mental health can be discussed without shame. They want services that are easier to access before a crisis point is reached. They want privacy, dignity, and clear information when they seek help.

These are serious concerns. They deserve serious policy attention.

In a small island community, distress is often carried in plain sight but spoken about quietly. It may show up in exam pressure, grief after community violence or sudden loss, conflict at home, bullying that follows a young person from school corridors to social media, financial strain in the household, or the fear that asking for help will become family or neighbourhood conversation. Many of our young people are carrying more than they always know how to explain.

In Bermuda’s first national study of adolescent depression and anxiety symptoms, conducted with middle and senior school students between November 2022 and June 2023, 31.3% of adolescents who self-reported symptoms met the threshold for moderate-to-severe depression symptoms, and 25.2% met the threshold for moderate-to-severe anxiety symptoms. These are not distant global numbers. They are Bermuda’s children, Bermuda’s classrooms, Bermuda’s families, and Bermuda’s future.

Globally, the World Health Organization estimates that one in seven young people between the ages of 10 and 19 experiences a mental disorder, and that depression, anxiety, and behavioural disorders are among the leading causes of illness and disability among adolescents. Bermuda’s own evidence tells us that our response must be local, practical, and urgent.

The concern is not only how many young people are struggling. It is also how many may struggle quietly. Recent Bermuda research found that less than half of surveyed adolescents said they would seek help for depression or social anxiety as described in a vignette, and stigma was the most commonly reported barrier to professional help-seeking. That means our challenge is not only to provide services. It is to make help easier to recognise, easier to trust, and easier to reach.

That should concern every one of us.

Youth mental health affects school attendance. It affects family stability. It affects community safety. It affects confidence, relationships, and the ability of young people to see a future for themselves in Bermuda. When a young person withdraws, acts out, panics, self-harms, shuts down, or says they no longer feel like themselves, the impact is felt not only by that child but by the household, classroom, team, youth group, and community around them.

That is why this Government has been taking practical steps to strengthen the support available to children, young people, and families.

One important step has been the increase in mental health outpatient treatment support for eligible Financial Assistance clients. Previously, support was limited to six sessions per year, with a maximum allowance of $840 annually. That support has now been expanded to up to twenty-four sessions per year, with the maximum rate amended to $840 per month.

This change recognises what families and practitioners have told us clearly. Six sessions are often not enough for someone working through serious mental health challenges. When parents, caregivers, and vulnerable family members can access more consistent support, children benefit from a stronger home environment.

We are also supporting a full review of the Children Act 1998. This work is not only a legal exercise. It is part of ensuring that child welfare, protection, care, supervision, foster care, adoption, parental responsibility, daycare, residential care, and family support reflect the pressures children and families face today, including the increase in youth mental health challenges.

The recent Youth Mental Health Student Debate showed why these conversations are so important. Students debated the motion: “This House believes that a child’s right to privacy when accessing health services outweighs a parent’s right to be informed.” The debate was hosted by the Ministry of Youth, Social Development and Seniors on May 11, 2026, as part of the Ministry of Health’s Mental Health Anti-Stigma Month campaign and was organised by the Youth Advisory Working Group and Mirrors.

That motion raised real questions about trust, safety, parental responsibility, and confidentiality. The value of that debate was not that every person agreed. The value was that young people were trusted to engage a complex issue in public.

That is leadership.

The Youth Advisory Board has also raised concerns about barriers to care, including consent requirements, confidentiality practices, stigma, cost, and limited awareness of available support.

A young person should not have to navigate confusion, fear, or silence before getting help.

Parents and guardians remain central to this work. The goal is to strengthen families so they can have better conversations. Many parents want to help but do not always know what signs to look for, what language to use, or where to turn when their child begins to struggle.

Mental health literacy like the Youth Mental Health Training Programme must therefore become part of how Bermuda supports households. Local research found that many adolescents could not recognise depression or social anxiety when it was described to them. If young people themselves may not always have the language for what they are experiencing, then parents, guardians, teachers, coaches, youth workers, faith leaders, and other trusted adults need practical tools to notice early signs, respond calmly, and know where to refer a young person for help.

We must also be honest about stigma.

Too many young people still fear being labelled. Too many families still suffer in silence.

Government will continue doing its part. We will continue listening to young people, supporting policy reform, working across Ministries, strengthening access to care, and working with partners across the community. But this work also belongs to every parent, teacher, coach, faith leader, employer, neighbour, and community organisation that has influence in a young person’s life.

Bermuda’s young people are speaking.

We must build the kind of support that helps young people feel safe enough to ask for help before they are in crisis.

That is how we protect their dignity.

That is how we protect their future.

Police urgently appeal for witnesses to Front Street stabbing

The Bermuda Police Service confirmed that upon arrival at Front Street, officers found two males with what appeared to be stab wounds

Investigators are seeking help from those who may have been eye witnesses to a stabbing incident on Front Street in Hamilton this afternoon.

Police confirmed to men were found with stab wounds, upon arrival near the Brew coffee shop on Front Street.

A BPS spokesperson said officers responded to the call shortly before 2:00 p.m. on Saturday, May 30.

“They were both attended to at the scene by EMTs before they were transported by ambulance to King Edward VII Memorial Hospital for further treatment of their injuries.”

“There were several people in the area at the time of the incident and we wish to thank those individuals who have already spoken with officers and provided information to them, police said.

Officers would like to hear from any other witnesses who may not yet have spoken with police.

Bermuda Broadcasting understands Brew and the nearby beauty store had closed for the remainder of the day. There was a heavy police presence at the scene and several tourists were in the area.

Police are urging anyone with information on this matter, to call the main police number, 295-0011, 211, or the independent and confidential Crime Stoppers number, 800-8477.

They said, “You may also provide the information anonymously by using the BPS reporting portal at, portal.bps.bm

“Alternatively, we encourage you to share the information with a police officer you know.”

Suspect arrested in connection with Rangers shooting

Full Police Statement:

A 17-year-old male has been arrested  in connection with the recent firearms incident at Southampton Rangers Aports Club.

The suspect was arrested after police yesterday, executed a warrant in the Warwick area as part of ongoing investigations into the confirmed firearms incident which occurred at approximately 10:15 p.m. on Sunday, May 24, 2026.

Officers were dispatched to the club following reports of multiple gunshots.

They arrived at the scene shortly afterwards and discovered forensic evidence suggesting that a firearm had been discharged.

There were a number of people attending an event at Rangers at the time of the incident. However, there were no reported injuries.

We wish to thank those members of the public who have so far come forward to provide information in relation to that incident.

We urge anyone else who may have information that can help progress the investigation into this matter, to please contact acting Detective Inspector , Anneka Donawa, on 717-2250 or, via e-mail, adonawa@bps.bm

You may also provide the information anonymously by calling the independent and confidential Crime Stoppers number, 800-8477, as well as via the BPS reporting portal, portal.police.bm, or speak with a police officer you know.

Soccer-Liverpool sack Slot after title defence turns into European scramble

Club finish fifth after dramatic season and seek successor

International News via Reuters:

Liverpool parted ways with Arne Slot on Saturday after the Dutch manager who won the Premier League title in his first season failed to live up to expectations in a roller-coaster second season where they finished fifth.

Former Feyenoord boss Slot replaced Juergen Klopp in 2024 and the Dutchman impressed in his first season as Liverpool won the Premier League title on the back of Egyptian forward Mohamed Salah’s 29 goals and 18 assists in the league.

However, his second season at Liverpool transformed from a title defence into a desperate scramble for Champions League qualification while they failed to win a domestic cup, marking a dramatic downturn for the defending champions.

Liverpool ended the season in fifth place with 60 points — their lowest tally since the 2015-16 campaign and 25 points behind champions Arsenal — and the club said they had to make the “difficult decision” to part ways with the Dutchman.

‘CHANGE IS NECESSARY’

“The contribution Arne has made to Liverpool FC in the time that he has been with us has been significant, meaningful and – most importantly of all to supporters and ourselves – successful,” Liverpool said in a statement.

“From the moment that we first encountered Arne, it was immediately clear that he is an individual who does not merely accept responsibility, he embraces it.

“This was evident when he agreed to take over as head coach, when he guided us to the Premier League title and throughout the season just ended when he faced considerable challenges and burdens.

“At the same time, we have collectively come to the conclusion that change is necessary in order for the club to keep moving forward. Again, it must be stressed that this is not a decision which has been reached lightly, anything but.”

Liverpool said the process to appoint a successor is under way, with media reports linking Andoni Iraola to the role after the Spaniard guided Bournemouth to sixth in the league as they qualified for the Europa League for the first time.

NO TROPHY DESPITE RECORD SPEND

Slot was heavily backed in the transfer market last year as Liverpool looked to build on the league title, spending a record £446 million ($600.27 million) which included a British record 125 million pounds for Alexander Isak on deadline day.

But Liverpool struggled at both ends of the pitch while their once-feared intensity and pressing game — hallmarks of Slot’s debut season triumph — visibly declined.

Isak’s injury problems did not make things easier for the Swedish striker to settle while Florian Wirtz, another expensive attacking recruit at 116 million pounds, did not score his first goal until after Christmas. He finished the season with five league goals.

Slot’s relationship with the players also seemed to have broken down when Salah publicly questioned his team selection.

Salah accused the club of “throwing me under the bus” while claiming he felt he had been scapegoated for their poor start to the season.

The Egyptian forward left the club at the end of the season but not before a parting shot when he urged Liverpool to revive “heavy metal” football and rediscover their attacking identity made famous by Klopp.

The writing was on the wall towards the end of the season when he was routinely booed by frustrated Liverpool fans.

Slot and the squad also had to contend with the death of Portuguese forward Diogo Jota in a car crash in Spain last year.

“He also helped guide the club through one of the most difficult periods imaginable following the loss of Diogo. The compassion and humanity he showed throughout that time said a great deal about him as a person,” the club added.

“As such, we can only wish Arne well in the next stage of his coaching career, with our expectation being that he will continue to be successful.”

($1 = 0.7430 pounds)

Reporting by Rohith Nair in Bengaluru;Editing by Tomasz Janowski and Pritha Sarkar