Woods said firms would need to step up basic cyber hygiene and respond faster, with AI-driven defences becoming more important
International News via Reuters:
The head of the Bank of England’s regulatory arm on Wednesday said it was “reasonable to expect quite significant disruption” to financial services from the latest AI models such as Anthropic’s Mythos and ChatGPT 5.5 Instant.
Sam Woods, chief executive of the Prudential Regulation Authority, cited such models’ growing ability to identify vulnerabilities, and the requirement for banks to patch these – “the main driver of outages” in the financial system – at speed.
Woods said firms would need to step up basic cyber hygiene and respond faster, with AI-driven defences becoming more important. He was speaking at UK Finance’s Growth Delivery Summit.
Anthropic rolled out its latest AI model, Mythos, to a limited number of businesses in April. It is viewed by cybersecurity experts as posing challenges to the banking industry and its legacy technology systems, although a BoE co-led cyber group determined last month that the sector was prepared for those challenges.
Reporting by Phoebe Seers; Editing by Kevin Liffey and Alex Richardson
The Ministry of Public Works and Environment has finished upgrades to the boat ramp at Stonecrusher Corner on Kindley Field Road in St. George’s
The Ministry of Public Works and Environment is pleased to advise that improvement works have been completed at the boat ramp at “Stonecrusher Corner” on Kindley Field Road in St. George’s.
The completed project represents the latest investment by the Ministry in practical public infrastructure that supports community use, marine access, and operational readiness.
The upgraded ramp restores and improves an area that boaters and members of the public had previously identified as useful and important for access to the water.
The site is now open for public use and will also benefit organisations such as the Bermuda Power Boat Association and the Royal Bermuda Regiment Coast Guard, should access be required for operational purposes.
The works included the rehabilitation of the concrete boat ramp, improvements to the launch surface, vehicle access works, and related site improvements to make the area safer, more durable and more usable for boaters, recreational users, and the wider public.
The Ministry previously carried out a public consultation before construction began, inviting residents to view the proposed designs and provide feedback. That input helped guide the final approach to the project and ensured that the completed works reflected the needs of the community.
The Minister of Public Works and Environment, the Hon Jaché Adams, JP, MP, who attended the location on Sunday, alongside the Coast Guard, to inspect the work, said: “This project is another example of the Ministry investing in infrastructure that people can see, use and benefit from.
“Stonecrusher Corner was identified by boaters and members of the public as an area with real value, and we have now delivered improvements that support safer and more reliable access to the water.” The project was finished within budget.
Minister Jaché Adams added: “Public infrastructure does not always have to be large to be meaningful. Sometimes it is about making sure the spaces people already use are safer, better maintained and fit for purpose. This project does that, and I thank the public, the boating community and all those involved in helping bring it to completion.”
Media release and images supplied by the Government of Bermuda.
Bermuda College Foundation has announced a new partnership with Martello Re Limited to provide two scholarships for students pursuing careers in actuarial science and computer information systems at Bermuda College Foundation.
The Martello Re Bermuda Scholarships will provide one year of tuition and book support for students enrolled in Bermuda College’s Associate in Science Degree Programme in either Actuarial Science or Computer Information Systems.
Valued at approximately $14,000 in total, the scholarships are designed to help support students entering high-demand technical fields.
Kerry Judd, Executive Director of Bermuda College Foundation, said the initiative reflects the importance of industry partnerships in developing Bermuda’s future workforce.
The first scholarship recipient has been named as Armari Maybury, a second-year Computer Information Systems student who is expected to complete his studies during the 2026/27 academic year.
Mr. Maybury said he was proud to receive the award and grateful for the support toward his academic goals.
Applications for the second scholarship are now open and must be submitted by June 30 through Bermuda Scholarships.
Kimberly Aldridge, Chair of Community & Charity at Martello Re, said the company was proud to support opportunities that empower Bermuda’s next generation and contribute to the island’s continued success.
U.S. President Donald Trump’s swift rejection of Iran’s response to a U.S. peace proposal stoked worries that the 10-week-old conflict could drag on and keep shipping through the Strait of Hormuz paralyzed
International News via Reuters:
The S&P 500 and the Nasdaq climbed to intraday record highs on Monday, extending last week’s rally, as strength in chip stocks offset a jump in oil prices sparked by stalled U.S.-Iran talks.
U.S. President Donald Trump’s swift rejection of Iran’s response to a U.S. peace proposal stoked worries that the 10-week-old conflict could drag on and keep shipping through the Strait of Hormuz paralyzed. That sent crude prices up almost 3%. [O/R]
Even so, higher oil prices have so far done little to knock the broader market off course. The S&P 500 and the Nasdaq both closed at record highs on Friday, supported by upbeat corporate earnings, renewed optimism around semiconductor stocks and a solid monthly payrolls report that pointed to continued resilience in the U.S. economy.
That resilience could face a fresh test this week as the earnings season winds down and investors turn to key economic data.
Tuesday’s consumer price index report is expected to show inflation picked up in April, reflecting upward pressure on energy prices from the Middle East conflict. Producer price data and monthly retail sales figures are also due later in the week.
“The worry list is long, but the economy keeps proving the bears wrong,” said Robert Edwards, chief investment officer, Edwards Asset Management
“Big tech has regained its leadership, backed by solid and growing revenue and earnings. These names sit at the center of every major secular theme.”
At 12:15 p.m. ET, the Dow Jones Industrial Average fell 3.66 points, or 0.01%, to 49,605.50, the S&P 500 gained 24.74 points, or 0.33%, to 7,423.67 and the Nasdaq Composite gained 104.59 points, or 0.40%, to 26,351.67.
The S&P 500 energy and materials led sector gains on Monday, rising 2.1% and 1.4%, respectively, while heavyweight technology advanced 1.1%.
Nvidia and Micron Technology boosted the sector, rising 3.2% and 6.3%, respectively. Qualcomm surged 9.3% to touch a record high.
Intel rose 2.4% after surging 14% on Friday on a report of a preliminary chip-making agreement with Apple.
Also on the radar is a meeting between Trump and Chinese President Xi Jinping later this week, when the two leaders are set to discuss Iran, Taiwan, artificial intelligence and nuclear weapons, while also weighing an extension of a critical minerals deal.
Major names due to report this week include tech networking giant Cisco and semiconductor equipment maker Applied Materials, while heavyweights Nvidia and Walmart are due to report later in the month.
Media major Fox Corp rose 1.7% after beating Wall Street estimates for third-quarter revenue.
Among other moves, some airline stocks slipped as rising oil prices threatened to squeeze margins. Southwest Airlines, Delta Air Lines, Alaska Air and United Airlines fell between 4% and 1.6%.
Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE and by a 1.11-to-1 ratio on Nasdaq.
The S&P 500 posted 34 new 52-week highs and 37 new lows while the Nasdaq Composite recorded 131 new highs and 123 new lows.
Reporting by Ragini Mathur and Utkarsh Hathi in Bengaluru; Editing by Devika Syamnath
Brent crude futures were up $3.17, or 3.13%, at $104.46 a barrel at 12:15 p.m. EDT (1715 GMT)
International News via Reuters:
Oil prices climbed on Monday by more than 3% after U.S. President Donald Trump said the ceasefire with Iran was “on life support,” leaving the Strait of Hormuz largely closed with no clear end in sight to the war.
Brent crude futures were up $3.17, or 3.13%, at $104.46 a barrel at 12:15 p.m. EDT (1715 GMT). U.S. West Texas Intermediate was at $98.32 a barrel, up $2.90, or 3.04%. Brent reached a session high of $105.99 and WTI hit a peak of $100.37.
Last week, both benchmarks recorded 6% weekly losses on hopes for an imminent end to the 10-week-old conflict that would allow oil to transit through the Strait of Hormuz.
But on Monday, Trump said the ceasefire with Iran was “on life support,” after dismissing Tehran’s response to a U.S. peace proposal as “stupid.”
Days after Washington floated a proposal aimed at reopening negotiations, Iran on Sunday released a response focused on ending the war on all fronts, including Lebanon, where U.S. ally Israel is fighting Iran-backed Hezbollah militants.
Tehran also demanded compensation for war damage, emphasized its sovereignty over the strait, and called on the U.S. to end its naval blockade, guarantee no further attacks, lift sanctions and remove a ban on Iranian oil sales. Within hours, Trump dismissed Tehran’s offer in a social media post as “totally unacceptable.”
“The narrative has changed again from de-escalatory to escalatory in a matter of a few days and oil markets respond to it – although only modestly,” said Florence Schmit, an energy strategist at Rabobank.
TRUMP TO MEET WITH XI THIS WEEK IN BEIJING
Trump is scheduled to arrive in Beijing on Wednesday and is expected to discuss Iran among other topics with Chinese President Xi Jinping, according to U.S. officials.
“I don’t think anyone is looking for the U.S. to up the ante anytime in the balance of the week as long as this China, Trump meeting is going on,” said Bob Yawger, director of energy futures at Mizuho.
The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilize even if flows resume, Saudi Aramco CEO Amin Nasser said on Sunday.
Saudi Arabian crude oil exports to China are expected to fall further in June after buyers cut nominations because of costly prices linked to the U.S.-Iran conflict and lower supplies, trade sources told Reuters.
OPEC oil output dropped further in April to the lowest in more than two decades, a Reuters survey found, as the war effectively closed the strait and forced export cuts.
Crude output by the 12-member Organization of the Petroleum Exporting Countries in April fell by 830,000 barrels per day month-on-month to 20.04 million bpd, the survey found. March’s figure was revised 700,000 bpd lower due to a change in the Saudi estimate.
Meanwhile, three tankers carrying crude exited the strait last week and on Sunday with trackers switched off, Kpler shipping data showed. One was loaded with Iraqi crude bound for Vietnam.
Japan’s industry ministry said a tanker carrying Azerbaijani crude oil was set to arrive as early as Tuesday, the first cargo of oil received from there since the Iran war began.
JPMorgan analysts expect oil prices to remain in the low $100s for most of the rest of this year, averaging $97 for 2026 with no quick normalization once the Strait of Hormuz reopens.
Reporting by Georgina McCartney in Houston, Seher Dareen in London, Florence Tan and Siyi Liu in Singapore, additional reportin by Shadia Nasralla; Editing by Jamie Freed, Thomas Derpinghaus, Emelia Sithole-Matarise, Nick Zieminski and David Gregorio
The final passengers – four Australians, one Briton who lives in Australia and a New Zealander – were waiting to be taken off the MV Hondius, a polar expedition ship
International News via Reuters:
The last six passengers and some of the crew of the hantavirus-hit MV Hondius anchored off Tenerife were readying to disembark on Monday as the ship’s captain praised their patience and discipline during an “extremely challenging” few weeks.
The final passengers – four Australians, one Briton who lives in Australia and a New Zealander – were waiting to be taken off the MV Hondius, a polar expedition ship, in small boats for transfer to Tenerife where a flight would take them to the Netherlands to spend time in quarantine.
Nineteen crew members from the ship and three doctors who treated them were due to take off for the Netherlands on an earlier flight, the Dutch Foreign Ministry said.
The MV Hondius was then due to continue its journey with 26 crew members to the Netherlands – its flag state – where it would be disinfected, health authorities said.
“I could not imagine sailing through these circumstances with a better group of people, guests and crew alike,” Captain Jan Dobrogowski, from the Netherlands, said in a video posted on Oceanwide Expeditions’ website.
The disembarkation caps a complex operation that has so far resulted in 94 people being evacuated and repatriated to their countries of residence, 41 days after the MV Hondius set off from southern Argentina and nine days after the first positive test result for the respiratory viral infection.
Three people have died since the start of the outbreak – a Dutch couple and a German national.
The World Health Organization said on Monday there were now seven confirmed cases of the Andes strain of hantavirus, and two other suspected cases – one who died before being tested, and one on Tristan da Cunha, a remote South Atlantic island where there were no tests available.
FRENCH WOMAN’S CONDITION DETERIORATING
The confirmed cases include a French passenger, who tested positive after the ship docked in the Canary Islands on Sunday. Her condition is deteriorating, French Health Minister Stephanie Rist said.
The U.S. Department of Health and Human Services said one of the 17 Americans being repatriated had also tested mildly positive for the Andes virus. The Spanish Health Ministry said a test of another sample of the American at a different lab had been inconclusive.
A second American also had mild symptoms.
As the MV Hondius approached the Canary Islands late last week amid protests from the regional government about the risk of the virus spreading, Spain’s health minister and the WHO had said all passengers were “asymptomatic”.
Results of tests on 14 Spanish passengers currently quarantining at a military hospital in Madrid were due later on Monday, Spain’s Health Ministry added.
‘THIS IS NOT COVID’
The virus is usually spread by wild rodents but also transmittable person-to-person in rare cases of close contact.
However, health officials say that because the virus does not spread easily between people, there is little risk to the general population, urging calm to a public scarred from the experience of the COVID-19 pandemic.
The MV Hondius had been carrying 147 passengers and crew from 23 countries when a cluster of severe respiratory illnesses among passengers was first reported to the WHO on May 3.
By then, 34 other passengers had disembarked on islands in the Atlantic before the cruise ship headed north to Cape Verde, where news of the outbreak emerged.
It was first detected by health officials in Johannesburg on May 2 treating a British man who disembarked the ship. That was some three weeks after the first passenger, a Dutchman, had died.
The luxury cruise ship left for Spain’s Canary Islands on May 6 after Madrid had accepted a WHO request to manage its evacuation.
The WHO has recommended a 42-day quarantine for all passengers, its director of epidemic and pandemic management, Maria Van Kerkhove, told a briefing.
On Monday, the head of the Italian pharmaceutical lobby, Marcello Cattani, told a conference in Milan there was little need to develop a hantavirus vaccine.
“Only a small number of citizens, fortunately, are involved,” he said. “The path to achieving a vaccine is absolutely feasible, but we are confident there will be no need for one because it will not go from an outbreak to an epidemic or a pandemic.”
Reporting by Reuters bureaus, Writing by Raju Gopalakrishnan, David Latona, Aislinn Laing and Charlie Devereux; Editing by Stephen Coates and Gareth Jones
The commodity-heavy FTSE 100 index closed 0.36% higher, while the midcap FTSE 250 index slipped 0.18%
International News via Reuters:
The UK’s blue-chip FTSE 100 rose on Monday as mining shares jumped and Airtel Africa hit a record, helping the index defy escalating risk-off sentiment across global markets.
The commodity-heavy FTSE 100 index closed 0.36% higher, while the midcap FTSE 250 index slipped 0.18%.
• Airtel Africa climbed 14.5% to a record and was the biggest gainer on the FTSE 100.
• The board of the company’s parent, Bharti Airtel, is scheduled to meet later this week to weigh options, including a possible consolidation or acquisition of stakes in its subsidiaries, including Airtel Africa.
• Mining stocks Anglo American and Rio Tinto were also among the gainers, rising 3.9% and 3.3%, respectively.
• Investors were contending with the stalemate in the Middle East, where hopes of an imminent reopening of the Strait of Hormuz were dashed after U.S. President Donald Trump rejected Iran’s response to a U.S. peace proposal.
• Brent crude futures rose 2.8%, keeping investors concerned about inflation.
• Data last month showed that British inflation had risen to 3.3% in March from 3.0% in February.
• Bank of England Governor Andrew Bailey has also warned that policymakers would face a “difficult judgement call” in the coming months on whether to raise rates.
• Meanwhile, investors were also assessing the political uncertainty in the UK.
• Prime Minister Keir Starmer made an impassioned plea to his Labour Party to stick with him and avoid a leadership contest that he said would only bring chaos.
• Labour lawmakers had turned on him after his party suffered the worst local election results for a governing party in more than three decades.
• “It is worth noting that fiscal pressures are high, no matter who the Labour leader is,” BofA Securities strategists wrote, adding that the government could face pressure to support households through the oil price shocks.
• Metal miners rose 3.6%, while the personal goods sector fell 3%.
• Compass Group rose 2.4% after it raised its 2026 profit outlook, betting on demand for workplace dining and new contract wins.
• Separately, an industry survey showed that Britain’s jobs market had lost momentum in April due to cost pressures stemming from the Middle East conflict.
Reporting by Niket Nishant in Bengaluru; Editing by Sahal Muhammed and Shinjini Ganguli
Butterfield & Vallis recently partnered with Bermuda Cancer and Health Centre to host a private employee wellness session focused on cancer awareness, early detection and men’s health.
The event formed part of the Cancer Conversations initiative, led by the Centre alongside community advocate Brian Madeiros, which aims to bring practical and open discussions about cancer directly into Bermuda workplaces.
Hosted for an all-male employee group, the session highlighted the importance of regular screenings and early medical intervention, while also addressing the emotional and mental impact cancer can have on individuals and their families.
Hosted for an all-male employee group, the session highlighted the importance of regular screenings and early medical intervention, while also addressing the emotional and mental impact cancer can have on individuals and their families.
Takeysha Atwell, HR Strategist at Butterfield & Vallis, said the company wanted to create a safe environment for conversations that are often avoided.
“At Butterfield & Vallis, we believe that true wellness extends beyond the workplace and into every aspect of our lives,” she said. “Hosting this session on prostate health reflects our commitment to supporting open, informed conversations around topics that are often overlooked or considered taboo.
“It was important for us to create a safe and respectful space where individuals could learn, share, and feel empowered to take charge of their health.”
Dr. Chris Fosker said employers play a key role in helping create environments where people feel comfortable seeking support and medical advice.
“Cancer affects every part of life – health, family, work and wellbeing,” he said. “When people have the opportunity to ask questions, hear real experiences and better understand their options, it can reduce uncertainty and encourage earlier action.”
Organisers said feedback from previous Cancer Conversations sessions has shown many participants later booked screenings and annual check-ups, while also encouraging family members and colleagues to prioritise their health.
Mr. Madeiros said the initiative is designed to encourage honest dialogue and reduce fear surrounding cancer-related discussions.
“These sessions are about real conversations, not lectures,” he said. “When people hear honest experiences alongside practical guidance, it often helps reduce fear and hesitation.”
The programme also aims to help workplaces better understand how to support employees and families dealing with cancer treatment, recovery and caregiving responsibilities.
Starmer said his government would bring in new legislation to allow it to take ownership of the steelworks based at Scunthorpe, northern England, ensuring the country does not lose its last remaining primary steelmaking capability
International News via Reuters:
Britain could fully nationalise British Steel under new plans announced on Monday by Prime Minister Keir Starmer, who said it had not been possible to sell the Chinese-owned business the government saved from closure last year.
Starmer said his government would bring in new legislation to allow it to take ownership of the steelworks based at Scunthorpe, northern England, ensuring the country does not lose its last remaining primary steelmaking capability.
Any decision will be based on a public interest test being met, which would consider national security, maintaining critical national infrastructure and supporting the economy.
The steelworks supply the rail, construction, and automotive industries, but have in recent years struggled with high energy costs in Britain and a glut of steel in the global market.
“Steel is strategically important to our economy and our national resilience,” said Starmer, who was making a speech defending his leadership.
In April 2025, the government seized operational control of British Steel from its Chinese owners, Jingye, to stop the furnaces from being shut and to protect 2,700 jobs at the plant and thousands of related jobs in the supply chain.
In the months since, it has been looking for a private sector partner to secure the future of British Steel, which was privatised under Prime Minister Margaret Thatcher in 1988.
Starmer said negotiations with Jingye had shown a commercial sale was not possible at this time as any agreement would not deliver acceptable value for money for taxpayers.
Business minister Peter Kyle did not rule out private sector involvement in the future.
“The government recognises that securing the long-term future of the UK’s steel sector relies on both public and private investment for modernisation,” he said in a statement.
The cost of supporting British Steel is set to reach 615 million pounds ($836 million) by June, according to the country’s spending watchdog.
($1 = 0.7358 pounds)
Reporting by Elizabeth Piper and Sam Tabhriti, writing by Alistair Smout, editing by William James and Keith Weir
Renewable projects such as wind and solar in Europe are increasingly being developed with battery storage alongside them
International News via Reuters:
Europe’s co-located renewable power and battery capacity is expected to surge more than 450% by 2030, with Germany the most attractive country to build projects, a report by Aurora Energy Research showed on Monday.
• Renewable projects such as wind and solar in Europe are increasingly being developed with battery storage alongside them which allows generators to store power rather than sell it at a loss when there is excess on the system, and then discharge the power when prices recover.
• Europe’s co-located renewable capacity reached 6.3 GW in 2025, led by solar-plus-storage which made up over 60% of deployments, the report said.
• This is expected to grow to around 35 GW by 2030.
• Germany was ranked as the most attractive region for these projects due to higher expected returns on investment, followed by Britain and Bulgaria.
• Spain, Hungary and France were flagged as markets to watch amid ongoing regulatory reform.
• Across Europe, negative price hours surged in 2025, with Spain, the Netherlands and Germany each exceeding 500.
• Curtailment- when output from renewable plants is curbed to protect the grid when supply exceeds demand – is forecast to rise from over 10 terawatt hours in 2024 to around 33 TWh by 2030, the report said.
• The report covered Europe’s 20 main power markets.
Reporting By Susanna Twidale; Editing by Kirsten Donovan
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