MP reaffirms bid for PLP leadership following abuse rumours
Jason Hayward, the Minister for Economy and Labour addressed rumours circulating online during Friday’s Motion to Adjourn session
“It will not distract me from my bid to lead the PLP.”
This today from Cabinet Minister Jason Hayward, after an extraordinary statement he made in the House of Assembly, addressing accusations of domestic abuse.
Mr. Hayward, the Minister of Economy and Labour, told fellow MPs on Friday that he had never engaged in domestic violence and called on anyone with evidence to substantiate the claims to come forward.
OpenAI defeats Elon Musk’s lawsuit, removing obstacle to IPO
In a unanimous verdict, the jury in Oakland, California, federal court said Musk had brought his case too late. The jury deliberated less than two hours
International News via Reuters:
A U.S. jury on Monday ruled against Elon Musk in his lawsuit against OpenAI, finding the artificial intelligence company not liable to the world’s richest person for having allegedly strayed from its original mission to benefit humanity.
In a unanimous verdict, the jury in Oakland, California, federal court said Musk had brought his case too late. The jury deliberated less than two hours.
The trial had widely been seen as a critical moment for the future of OpenAI and artificial intelligence generally, both in how it should be used and who should benefit from it.
The decision simplifies the path for OpenAI to proceed with a possible initial public offering that could value the business at $1 trillion. But the public face of the company, Chief Executive Sam Altman, must also deal with any challenges to his reputation from some extremely personal testimony, including multiple witnesses describing him as a liar.
Following the verdict, Musk’s lawyers said in court that he reserved the right to appeal. Addressing reporters after the verdict, Musk lawyer Marc Toberoff said Musk would have a strong basis for an appeal.
“This one is not over,” he said. “The ruling, based on the statute of limitations, has factual components but it has major legal components as well.”
U.S. District Judge Yvonne Gonzalez Rogers, who oversaw the trial, said in court that Musk may face an uphill battle for a potential appeal because whether the statute of limitations ran out before Musk sued was a factual issue.
“There’s a substantial amount of evidence to support the jury’s finding, which is why I was prepared to dismiss on the spot,” the judge said.
MUSK INVESTED EARLY IN OPENAI
In his 2024 lawsuit, Musk accused OpenAI, its Chief Executive Sam Altman and its President Greg Brockman of manipulating him into giving $38 million, then going behind his back by attaching a for-profit business to its original nonprofit and accepting tens of billions of dollars from Microsoft and other investors.
Musk called the OpenAI defendants’ conduct “stealing a charity.”
Toberoff said the verdict could encourage other startups that begin as non-profits but have greater ambitions to raise money, create for-profit entities to scale, and make their officers and directors rich.
“It’s a brand new formula for Silicon Valley,” he told reporters.
OpenAI was founded by Altman, Musk and several others in 2015. Musk left its board in 2018, and OpenAI set up a for-profit business the next year.
Musk has since founded his own artificial intelligence startup, xAI, which is now part of his space and rocket company SpaceX.
OpenAI countered that it was Musk who saw dollar signs, and that he waited too long to claim OpenAI breached its founding agreement to build safe artificial intelligence to benefit humanity.
Musk had a three-year statute of limitations to sue, and OpenAI’s lawyers said his August 2024 lawsuit came too late because he knew several years earlier about OpenAI’s growth plans.
Bill Savitt, a lawyer for OpenAI, told reporters after the verdict that Musk’s lawsuit was an “after-the-fact contrivance that bears no relationship to reality,” and jurors “kicked it exactly where it belongs, which is to the side.”
“The finding of the jury confirms that what this lawsuit was, was a hypocritical attempt to sabotage a competitor, and to overcome a long history of very bad predictions about what OpenAI has been and will become,” Savitt said.
The verdict followed 11 days of testimony and arguments where Musk’s and Altman’s credibility came under repeated attack.
Microsoft faced an aiding and abetting claim. In a statement, a Microsoft spokesperson said, “The facts and the timeline in this case have long been clear and we welcome the jury’s decision to dismiss these claims as untimely.”
Microsoft has spent more than $100 billion on its partnership with OpenAI, a Microsoft executive testified.
OPENAI PREPARES FOR IPO
People use AI for myriad purposes such as education, facial recognition, financial advice, journalism, legal research, medical diagnoses, and harmful deep-fakes.
Many people express distrust of the technology and worry it could displace people from their jobs.
Each side accused the other of being more interested in money than serving the public.
Musk accused OpenAI of wrongfully trying to enrich investors and insiders at the nonprofit’s expense, and failing to prioritize AI’s safety. He also contended that Microsoft knew all along that OpenAI cared more about money than being altruistic.
In his closing argument, Musk’s lawyer Steven Molo reminded jurors that several witnesses questioned Altman’s candor or branded him a liar, and that Altman did not give an unqualified yes when asked during the trial if he was completely trustworthy.
“Sam Altman’s credibility is directly at issue,” Molo said. “If you don’t believe him, they cannot win.”
Sarah Eddy, a lawyer for the OpenAI defendants, accused Musk and his legal team in her closing arguments of resorting to “sound bites and irrelevant false accusations.”
SpaceX is preparing an IPO that could exceed OpenAI’s in size.
Reporting by Kenrick Cai and Deepa Seetharaman in Oakland, California; Additional reporting by Jonathan Stempel and Luc Cohen in New York; Editing by Noeleen Walder, Peter Henderson and Nick Zieminski
Stocks mostly ease with tech shares while oil prices settle higher
Longer-dated U.S. Treasury yields were nearly flat after climbing to their highest level in over a year in overnight trading
International News via Reuters:
Major stock indexes mostly eased as technology shares fell on Monday, while oil prices climbed following continued worries over supply disruption from the Iran war.
Longer-dated U.S. Treasury yields were nearly flat after climbing to their highest level in over a year in overnight trading.
Sovereign bond yields have risen sharply recently as investors worry the war in Iran that began in late February may bring a lasting inflationary shock.
President Donald Trump posted on social media on Monday that he was holding off on a planned military attack on Iran scheduled for Tuesday, while efforts continue to reach a deal. He added that the United States was ready to resume attacking if one is not reached.
U.S. crude rose $3.24 to settle at $108.66 a barrel, while Brent crude gained $2.84 to $112.10.
Investors are also focused on the tech sector’s recent sharp gains and are bracing for results from Nvidia this week.
Technology, down 1%, led sector declines in the S&P 500, while an index of semiconductors was down 2.5%. Energy led sector gainers and was last up 1.8%.
Trump’s recent trip to China “left a lot of open questions about the future of Taiwan and whether or not the United States would be there to protect it,” said Oliver Pursche, senior vice president, advisor for Wealthspire Advisors in Westport, Connecticut.
“Given Taiwan’s significance to the chip market, that partially explains the selloff we’re seeing in that sector today,” he said, adding that investors are also taking profits.
Trump’s first visit to Beijing since 2017 ended on Friday with no major breakthroughs on trade or tangible help from Beijing to end the U.S.-Israeli war on Iran.
The Dow Jones Industrial Average rose 159.95 points, or 0.32%, to 49,686.12, the S&P 500 fell 5.45 points, or 0.07%, to 7,403.05 and the Nasdaq Composite fell 134.41 points, or 0.51%, to 26,090.73.
MSCI’s gauge of stocks across the globe fell 0.24 points, or 0.02%, to 1,098.76. The pan-European STOXX 600 index rose 0.54%.
Rising yields push up borrowing costs and mean a higher discount for future company earnings, challenging stock valuations.
The yield on the benchmark 10-year Treasury note climbed to 4.659% in overnight trading, its highest level since February 2025. It has since retraced its gains and was last flat on the day at 4.591%.
Earlier, Japan’s 10-year yield hit a peak not seen since 1996 as the government proposed to issue fresh debt to fund a planned extra budget to cushion the economic blow from the Iran war. Germany’s 10-year bond yield rose to a level not seen in 15 years.
AI, RETAIL EARNINGS TO TEST STOCKS’ RECENT RALLY
The artificial intelligence trade will be tested by earnings from Nvidia that are due on Wednesday, with expectations sky-high for the world’s most valuable company.
Nvidia shares are up sharply since a March low, while the Philadelphia SE semiconductor index has also surged amid demand for chips as tech companies spend massively to build AI-related infrastructure.
Also due this week are results from a host of retailers, including Walmart, which will provide an insight into how consumers are faring with high energy prices.
The dollar slipped against most major currencies as U.S. Treasury yields were off recent high levels.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.33% to 99.03.
Spot gold rose 0.31% to $4,552.19 an ounce.
Reporting by Caroline Valetkevitch in New York and Samuel Indyk in London; additional reporting by Wayne Cole; Editing by Sharon Singleton, Nick Zieminski and Deepa Babington
US targets Cuban political, military leaders with new sanctions
The designations are part of a broader push by the Trump administration to increase pressure on Cuba’s communist government, including efforts to curb the flow of oil from Venezuela and Mexico to the island
International News via Reuters:
The U.S. government imposed sanctions on nine Cuban officials, including the country’s communications minister and several military leaders, as well as its directorate of intelligence, the U.S. Treasury Department announced on Monday.
The designations are part of a broader push by the Trump administration to increase pressure on Cuba’s communist government, including efforts to curb the flow of oil from Venezuela and Mexico to the island.
The administration has described Cuba’s current communist-run government as corrupt and incompetent and is pushing for a regime change.
President Donald Trump has heaped pressure on the island, effectively imposing a blockade by threatening sanctions on countries supplying it with fuel, igniting power outages and delivering blows to its economy.
Following is a list of some of the most senior officials targeted on Monday:
• Mayra Arevich Marin, a member of the Communist Party Central Committee who has served as minister of communications since April 2021.
• Juan Esteban Lazo Hernandez, president of the Cuban National Assembly and a longtime Communist party official and member of the Politburo.
• Roberto Tomas Morales Ojeda, a senior Communist Party leader, who previously served as minister of public health and vice president.
• Joaquin Quintas Sola, a general in the Cuban Army and vice minister of the Revolutionary Armed Forces.
• Raul Villar Kessel, a senior Cuban military officer.
• A number of other lower-level figures were also designated.
• Treasury’s Office of Foreign Assets Control also designated the Directorate of Intelligence of Cuba, or DI, which is the main state intelligence service of the Cuban government.
• Trump on May 1 signed an executive order that provides broad authority to designate parties in Cuba’s key economic sectors and authorizes secondary sanctions against foreign financial institutions that deal with sanctioned parties.
• The Trump administration plans to announce criminal charges against former Cuban president Raul Castro on Wednesday, a Justice Department official said last week.
Reporting by Andrea Shalal and Katharine Jackson , editing by Michelle Nichols and Sanjeev Miglani
EU selects EQT to run its nearly $6 billion Scaleup Europe Fund
The fund would provide capital into deep-tech sectors, including artificial intelligence, quantum computing, clean energy and space technology among others, statements said
International News via Reuters:
The European Union has selected Swedish private equity group EQT AB to run its 5 billion euro ($5.83 billion) Scaleup Europe Fund set up with an aim to invest in technology companies, the EU and investment firm said on Monday.
The fund would provide capital into deep-tech sectors, including artificial intelligence, quantum computing, clean energy and space technology among others, statements said.
Scaleup Europe Fund is set to make its first investments in autumn 2026, thet European Commission said in its statement.
Alongside the European Commission, the group of founding investors in the fund also include Novo Holdings, Santander/Mouro Capital and Allianz, the statements said.
Europe has been trying to achieve strategic autonomy in key sectors amid trade tensions with the United States and China and the dominance of U.S. Big Tech.
Nokia CEO Justin Hotard told Reuters last month that Europe lacks the infrastructure needed to build up artificial intelligence data centres and is not investing enough to keep business from moving to China and the United States.
“Our ambition is for the Scaleup Europe Fund to be more than capital. We want it to be a catalyst for the wider ecosystem, driving corporate partnerships, strengthening talent networks and fostering further public-private collaboration,” Ted Persson, partner at EQT and proposed co-head of the Scaleup Europe Fund advisory team, said.
($1 = 0.8583 euros)
Reporting by Kanjyik Ghosh in Barcelona;Editing by Tomasz Janowski and Cynthia Osterman
Fashion show will feature high school graduates
A first-of-its-kind event bringing together Bermuda’s graduating high school students is set to take the stage next month.
The All Grads Rhythm and Fashion Show takes place June 5th through the 7th at the Earl Cameron Theatre, uniting S4 students from schools across the island through fashion, performance, and networking.
Kendal Trott spoke to Chauntee Thompson, director of the production, who said this year’s theme is inspired by the era students were born into, including the rise of technology and the year Barack Obama became President.
Tickets are now on sale, with organizers encouraging the public to come out and support Bermuda’s young talent.
Bermuda Day Grand Marshals announced
Five cultural trailblazers honoured under this year’s Heritage Month theme, “For the Culture”
The upcoming Bermuda Day Parade will honour five cultural icons as this year’s Grand Marshals under the Heritage Month theme “For the Culture.”
Owen Darrell, Minister of Tourism and Transport, Culture and Sport has announced the honourees, and said while they “may come from different paths and disciplines … they are united by a shared commitment to community and cultural pride.”
Tawana Lee, Demeka “Tiny T” Tacklyn, Jules Roberts, Sonya Smith and Allan Warner (posthumously) are the individuals to be recognised.
Speaking in the House of Assembly, Minister Darrell said the Grand Marshals “epitomise this year’s theme, “For the Culture,” through the way they have preserved traditions, uplifted others, and contributed meaningfully to the cultural and sporting life of Bermuda.”
Read his full statement below.
Miami milestone: Bermuda Karate secure team trophy after medal-laden weekend
The Bermuda Youth National Karate Team has completed a landmark weekend at the Miami Open International Karate Championships, walking away with a prestigious team trophy and multiple individual medals from Florida Memorial University.
In a definitive statement of the island’s growing martial arts pedigree, Bermuda was awarded the 3rd Place Team Trophy, a major milestone reflecting both the size and the high competitive standard of the delegation at this elite international tournament.
The final day of competition focused on the technical disciplines of Kobudo and Kata, where Talia Fox set the tone early in the Female 16+ Intermediate/Advanced Kobudo division. After a dominant opening performance, Fox delivered a poised second-round routine to capture a phenomenal Silver medal.
In the Male 16+ Kobudo bracket, Tony Cabral faced one of the most heavily stacked divisions of the day. Despite a display of remarkable power, the sheer depth of the international field prevented him from advancing. However, Cabral found redemption in the afternoon, displaying exceptional precision to secure a well-deserved Bronze medal in the Kata division.
The squad’s younger members also faced a “trial by fire,” with Chan Simons and Giovanni Vianello competing in massive, talent-heavy brackets. Simons displayed particular grit by pulling “double duty,” transitioning from Kata to Kumite, embodying the fighting heart of the Bermudian delegation.
The 3rd Place Team Trophy serves as a powerful reminder that Bermuda is no longer just participating in international karate—they are contending for the top spot on the world stage.
First-throw fire: DeRosa-Williams dominates in Oklahoma
Commonwealth Games-bound athlete Tiara DeRosa-Williams has sent a clear message to her international rivals, securing a commanding victory in the Oklahoma Throws Series as her preparations for the global stage intensify.
Competing at the specialized Millican Field in “Throw Town,” Ramona, Oklahoma, DeRosa-Williams demonstrated the explosive power and technical poise that have made her one of Bermuda’s most exciting prospects in the field events.
In the Women’s Discus Open Division, the contest was effectively decided from the very first rotation. DeRosa-Williams wasted no time in establishing her dominance, launching a massive opening effort of 50.40 metres.
The distance proved insurmountable for the rest of the field, allowing the Bermudian star to dictate the pace of the competition from the outset. In an event often defined by finding rhythm over six attempts, her ability to deliver a winning mark on her first throw highlights a level of psychological readiness crucial for major championship environments.
The Millican Field facility is renowned among the world’s elite throwers for its unique conditions and specialized wind patterns, often referred to as a “thrower’s paradise.” For DeRosa-Williams, consistently clearing the 50-metre barrier in such a technical environment is a significant milestone as she builds toward the heavy schedule of the 2026 season.
The result in Oklahoma serves as a vital tune-up for her Commonwealth Games campaign. By testing herself against the rigours of the US circuit, she is refining the consistency required to challenge for a place in the finals on the world stage.
Sub-16 club: Lewis smashes Para Pan American record
Bermudian para-athlete Jessica Lewis has etched her name into the history books once more, shattering the Para Pan American record for the second time in four days during a momentous final day at the 52nd Swiss National Championships.
In a career-defining performance at the renowned Stacherholz track in Arbon, Lewis achieved a lifetime goal by dipping under the 16-second barrier for the first time, cementing her status as one of the world’s elite T53 sprinters.
The assault on the record books began on Thursday at the Daniela Jutzeler Memorial, where Lewis clocked a blistering 16.02 seconds. That time officially lowered her own Para Pan American Record, but the Bermudian star was clearly not finished with her pursuit of speed.
Returning to the track just four days later, Lewis found another gear. Competing in a high-octane T53 Women’s 100m final, she crossed the line in a staggering 15.55 seconds. The result represents a massive leap in performance, marking the first time she has ever broken the 16-second threshold in her storied career.
The race was a masterclass in top-tier para-athletics, led by home favorite Catherine Debrunner. The Swiss sensation utilized the fast Arbon surface to secure victory in 15.36 seconds. Lewis’s record-shattering 15.55 earned her a well-deserved silver medal, while Belgium’s Joke Stragier completed the podium in third with a time of 20.29.
The consistency Lewis has displayed over this Swiss residency is a testament to her technical refinement and power output. By consistently lowering her marks in both the 100m and 400m disciplines, she has sent a definitive message to her international rivals ahead of the season’s major championships.
As the Swiss campaign draws to a close, Lewis returns home not just with silverware, but with the momentum of an athlete currently operating at the very peak of her powers.
The “Arbon double”—breaking the record twice in a single week—places her in a prime psychological position as the focus shifts toward the global stage. With her starts looking sharper and her mid-race acceleration reaching new heights, the sub-16 club now has a new, formidable member.
