Hutch’s name is among the confirmed candidates on the Dublin city returning officer’s website for the May 22 Dublin Central constituency by-election for the seat vacated by former Irish finance minister Paschal Donohoe
International News via Reuters:
Gerard Hutch, named in a 2023 court case as the head of a well-known crime family in Ireland, will seek election to the Irish parliament in a by-election next month after narrowly missing out on a seat in a parliamentary election 18 months ago.
Hutch’s name is among the confirmed candidates on the Dublin city returning officer’s website for the May 22 Dublin Central constituency by-election for the seat vacated by former Irish finance minister Paschal Donohoe.
Hutch, better known as “The Monk”, finished in fifth place in the four-seat constituency at the 2024 national election.
Analysts say he faces a potentially tougher task this time round with just one seat up for grabs and all the parties whose candidates were elected last time competing again. Hutch’s surge at the national election also faltered when he struggled to attract vote transfers from other candidates.
“I think it’s great to put someone in there with a chequered past. That’s what we need in the Dail (parliament), you need change,” Hutch told the Irish Times this week when asked what it would mean if someone with his past were elected to parliament.
“You need a man like me in there who can talk to the guy in the street.”
Ahead of the 2024 vote, Hutch said he was running as he did not think the deprived inner-city community where he grew up was properly represented. Rivals saw his support as a protest vote.
He was identified as head of the Hutch family by an Irish court in 2023 when he was acquitted of involvement in a 2016 murder. He denies being the leader of a crime gang.
The Hutch drug trafficking gang was named by the U.S. State Department in 2022 as being locked in a turf war with the Kinahan crime group, also based in Dublin, that resulted in 18 murders in the previous six years.
Reporting by Padraic HalpinEditing by Gareth Jones
The Monetary Policy Committee’s nine members voted 8-1 to keep the BoE’s benchmark Bank Rate at 3.75% with only Chief Economist Huw Pill seeking a hike to 4.0% now
International News via Reuters:
The Bank of England kept interest rates on hold on Thursday and set out scenarios for the economic impact of the Iran war, one of which could require a “forceful” increase in borrowing costs.
The Monetary Policy Committee’s nine members voted 8-1 to keep the BoE’s benchmark Bank Rate at 3.75% with only Chief Economist Huw Pill seeking a hike to 4.0% now, in line with expectations in a Reuters poll of economists.
A day after U.S. Federal Reserve kept rates on hold and shortly before the European Central Bank was expected to stay on hold too, the MPC said it would continue to monitor closely the situation in the Middle East.
While there was a risk of “material second-round effects” from the energy price shock – such as demands for higher pay or companies raising prices rather than absorbing higher costs – the jobs market was weakening and a rise in financial market borrowing costs would help limit inflation, the MPC said.
“The Committee stands ready to act as necessary to ensure that CPI inflation remains on track to meet the 2% target in the medium term,” it said in a statement, repeating language it used after its previous meeting in March.
Investors view Britain as highly vulnerable to the jump in energy prices due to the country’s heavy use of natural gas.
Data published last week showed a rise in input costs for firms and companies raising their expectations for price increases in the 12 months ahead at a record pace.
But there are also concerns about a sharp hit to economic growth caused by the war.
SCENARIOS FOR WAR IMPACT
Faced with deep uncertainty about the duration of the war and the extent of the economic damage it will cause, the BoE scrapped its usual practice of publishing a central forecast for inflation and other key economic indicators.
Instead, it produced three scenarios based on energy prices and different degrees of second-round effects.
Under the most damaging Scenario C, where energy prices will stay high for a prolonged period, inflation could peak at 6.2% – almost double its most recent reading – and stay above the BoE’s 2% target for the next three years, based on current market expectations for rates.
If that risk materialised, it was “likely to warrant a forceful tightening in monetary policy,” the BoE said.
However, Scenarios A and B would require a “less restrictive policy stance” with the rise in market-based interest rates since the start of the war helping to offset inflationary pressures.
The scenarios were based on market pricing in the 15 days to April 22 and did not incorporate a further spike in global oil prices this week which hit a fresh four-year high earlier on Thursday on renewed concerns about the duration of the war.
BoE Governor Andrew Bailey said he placed most weight on Scenario B “albeit with slightly reduced second-round effects” but he also placed “some weight” on Scenario C.
Around half the other members of the MPC who voted to keep rates on hold also said they put more weight on Scenario B.
Some MPC members “might prefer to act early” to stave off the risk of inflation getting stuck too high while others could prefer waiting for more evidence of that risk crystallising, the BoE said.
Earlier this month, Bailey told investors in a Reuters interview that their bets on interest rate hikes this year were premature given the uncertainty about the duration and impact of the war.
Before the BoE announcement on Thursday, investors were pricing in almost three quarter-point rate hikes this year.
Bailey and other senior BoE officials are due to hold a news conference at 1130 GMT.
As well as its big exposure to high gas prices, Britain’s economy is subject to worries about politics with Prime Minister Keir Starmer struggling to keep his grip on Downing Street which has raised questions about the government’s fiscal plans.
British government bond yields are the highest among the Group of Seven economies.
Reporting by William Schomberg, David Milliken and Suban Abdulla
The market moved higher after Axios, citing unidentified sources, reported late on Wednesday that U.S. President Donald Trump is slated to receive a briefing on Thursday on plans for a series of military strikes on Iran
International News via Reuters:
Global oil prices retreated after hitting a four-year high of more than $126 a barrel on Thursday on concerns that the U.S.-Iran war could worsen and lead to a protracted Middle East oil supply disruption that could hurt global economic growth.
Earlier in the day, the market moved higher after Axios, citing unidentified sources, reported late on Wednesday that U.S. President Donald Trump is slated to receive a briefing on Thursday on plans for a series of military strikes on Iran in hopes it will return to negotiations on its nuclear programme.
Prices later dropped without any obvious catalyst.
Tamas Varga of oil broker PVM said the decline did not look related to a specific development and reflected the heightened volatility in the market since the Iran war started on February 28.
“It just sums up the unpredictable nature of trading in a Trump world,” he said.
Global oil benchmark Brent crude futures were down $2.05, or 1.7%, to $115.98 a barrel as of 1016 GMT, after touching an intraday high of $126.41, the loftiest since March 9, 2022. The prompt contract for June delivery expires on Thursday. The more active July contract was at $109.93, down 51 cents or 0.5%.
Two large sell orders for June Brent traded shortly before 0930 GMT, traders noted and LSEG data showed.
Additional reporting by Colleen Howe, Trixie Yap and Florence Tan; Editing by Christian Schmollinger, Sharon Singleton
Takaichi made the comment after phone talks with Iranian President Masoud Pezeshkian
International News via Reuters:
Japanese Prime Minister Sanae Takaichi said on Thursday that she will continue all diplomatic efforts to ensure the passage of all vessels though the Strait of Hormuz.
Takaichi made the comment after phone talks with Iranian President Masoud Pezeshkian.
Takaichi said that in the process of ensuring the safe passage of a Japanese-related vessel through the Strait of Hormuz, she personally appealed directly to the president and, together with the foreign minister and the embassy, carried out various diplomatic efforts.
Of this year’s nominations, 208 are individuals and 79 are organisations, said Kristian Berg Harpviken, adding that there were many new nominees compared to last year
International News via Reuters:
Some 287 candidates will be considered for the 2026 Nobel Peace Prize, the secretary of the Norwegian Nobel Committee said on Thursday, with U.S. President Donald Trump likely to be among the nominees.
Of this year’s nominations, 208 are individuals and 79 are organisations, said Kristian Berg Harpviken, adding that there were many new nominees compared to last year.
“Since I am new in the job, one of the things that has to some extent surprised me is how much renewal there is from year to year on the list,” Harpviken said in an interview. He has held the position since January 2025.
Despite the number of conflicts rising worldwide and international cooperation under pressure, the award remains relevant, he added.
“The Peace Prize is even more important in a period like the one we’re living in,” he said. “There is as much good work, if not more, than ever.”
TRUMP LIKELY NOMINATED, BUT NOT CONFIRMED
The leaders of Cambodia, Israel and Pakistan have said they nominated Trump for this year’s prize. Their nominations, if made, would have been done in spring and summer 2025, and they are therefore valid given the deadline was January 31.
There is no way of verifying they have done as they have said as nominations remain secret for 50 years and Harpviken declined to say on Thursday whether Trump had been nominated.
A nomination is not an endorsement by the award body.
In addition to committee members, thousands of people worldwide can propose names: members of governments and parliaments; current heads of state; university professors of history, social sciences, law and philosophy; and former Nobel Peace Prize laureates, among others.
Many names appear on betting sites giving odds on this year’s possible laureates, from Russia’s Yulia Navalnaya, the wife of the late Russian opposition leader Alexei Navalny, to Pope Leo and Sudan’s Emergency Response Rooms, a volunteer aid group, among others.
CONCERN FOR HEALTH OF JAILED IRANIAN LAUREATE
Harpviken said the committee was deeply concerned about the health of the 2023 Peace Prize laureate, Iranian human rights activist Narges Mohammadi, which is worsening after she suffered a heart attack in prison.
Her supporters said on Wednesday her life was in imminent danger.
“Her sister was able to visit her in prison yesterday and the reports coming out after that are actually quite alarming as to her health condition,” said Harpviken.
“We see there is a lot of international pressure now. So we hope that the Iranian authorities do pay attention to that and release her so that she can have proper medical treatment.”
WHO ELSE COULD BE NOMINATED?
Among possible nominees for this year’s prize are Lisa Murkowski, the U.S. senator for Alaska, and Aaja Chemnitz, a member of the Danish parliament elected from Greenland, according to the Norwegian lawmaker who nominated them both.
“Together they have worked relentlessly to build trust and to secure a peaceful development of the Arctic region over many years,” said the lawmaker, Lars Haltbrekken.
Greenland has been in particular focus this year due to Trump’s relentless push to acquire the island from NATO ally Denmark.
This year’s Nobel Peace Prize will be announced on October 9, while the ceremony will take place on December 10.
Last year’s laureate was Venezuela’s Maria Corina Machado.
Reporting by Gwladys Fouche and Nerijus Adomaitis in OsloEditing by Gareth Jones
The blue-chip FTSE 100 rose 0.9% to 10,307.19 points by 0942 GMT, while the midcap FTSE 250 edged 0.4% higher
International News via Reuters:
London’s FTSE 100 index rose on Thursday, with upbeat results from Rolls-Royce and Glencore aiding the sentiment ahead of a Bank of England rate decision.
The blue-chip FTSE 100 rose 0.9% to 10,307.19 points by 0942 GMT, while the midcap FTSE 250 edged 0.4% higher.
• Engineering firms were mixed as Rolls-Royce climbed nearly 6.8% after reiterating its profit outlook, offering the biggest boost to the benchmark index, while Weir Group slid 7.5% after reporting a fall in first-quarter orders.
• Glencore shares added 2% after reporting a 19% rise in its first-quarter copper production.
• Global oil prices jumped to a four-year high of more than $122 a barrel on concerns that the U.S.-Iran war could worsen and lead to a protracted Middle East oil supply disruption. [O/R]
• Rising crude prices stoked inflation worries, bolstering gold prices, which in turn lifted shares of heavyweights Endeavour Mining and Hochschild by 6.2% and 5.1%, respectively.
• The FTSE 100 is up only 1.3% this month, far below European and U.S. benchmarks, as markets view Britain as highly vulnerable to the jump in energy prices due to the country’s heavy use of natural gas.
• Political concerns have also weighed with the scandal around Prime Minister Keir Starmer appointing Peter Mandelson, who was linked to the late convicted U.S. sex offender Jeffrey Epstein, as ambassador to the U.S., showing little sign of abating.
• The BoE is expected to keep rates unchanged at 1100 GMT with focus squarely on commentary on the Iran war’s longer-term impact on inflation.
• The European Central Bank is also seen holding rates later on Thursday, a day after the U.S. Federal Reserve stayed pat.
• Traders expect the BoE to raise interest rates at least twice by 25 basis points before the end of the year.
Reporting by Medha Singh in Bengaluru; Editing by Vijay Kishore
The rise of global oil benchmark Brent crude futures to more than $126 before falling back, and an early drop in European stocks [.EU], reflected concerns that a prolonged conflict in the Middle East could choke oil supplies for months
International News via Reuters:
Renewed risk aversion swept global equity and bond markets on Thursday and oil surged to a four-year high on worries that the Iran war could worsen, before what could be difficult European Central Bank and Bank of England meetings.
The rise of global oil benchmark Brent crude futures to more than $126 before falling back, and an early drop in European stocks [.EU], reflected concerns that a prolonged conflict in the Middle East could choke oil supplies for months.
A hawkish shift in tone from the U.S. Federal Reserve as it left rates on hold on Wednesday meant bond market borrowing costs were still higher in Europe as investors there readied for the ECB and the BoE to follow suit on Thursday.
Two-year German bond yields – which are sensitive to near-term ECB rate changes – faced the prospect of a ninth daily rise, while 2-year UK gilt yields briefly hit their highest in 2-1/2 years. [GVD/EU]
AXIOS SAYS TRUMP TO BE BRIEFED
AXA’s chief economist, Gilles Moec, said everything centred on worries about the U.S.-Israeli war against Iran.
News site Axios quoted unspecified sources as saying U.S. President Donald Trump would on Thursday receive a briefing from the leader of the U.S. Central Command, Brad Cooper, on new plans for potential military action against Iran.
Negotiations have stalled and Axios said Washington hopes to make Iran more flexible at the negotiating table on nuclear issues.
Investors are concerned that a prolonged conflict will drive up pump prices and could even drive economies towards recession.
“The inflation shock is significant and probably going to last longer than expected and at the same time the damage to the economy is going to be higher,” Moec said.
“This is playing into the hands of the hawks,” he said, referring to central bankers calling for higher interest rates to prevent further inflationary problems.
Brent crude futures were up almost 3% at $122 a barrel in European trading after hitting $126.41 overnight, the highest since March 2022. Brent has now more than doubled in price this year. [O/R]
The U.S. dollar, which has been a favoured safe-haven play since the war began on February 28, climbed to its highest level in more than two weeks against a basket of top currencies.
Japan’s yen also breached the key 160 threshold, stoking renewed speculation of a possible FX intervention by Tokyo after its repeated verbal warnings.
The Japanese currency has fallen more than 2% since the war began and investors have built the biggest short yen position in nearly two years in a bet that neither rate hikes nor intervention warnings will come to its rescue.
Overnight, the yield on 10-year Japanese government bonds had climbed to 2.5%, the highest since June 1997. [/JP]
EYES ON APPLE
Investors were also gearing up for earnings from iPhone maker Apple later as part of what has already been a frenetic week of ‘Big Tech’ reports. [.N]
Google parent Alphabet’s shares had leapt 7% in extended Wall Street trading on Wednesday after it beat forecasts. Microsoft and Amazon’s were also solid although Facebook and Instagram owner Meta tumbled 7% on its plans to plough billions more into AI and datacentres. [.N]
Europe’s attention was now on what the ECB and BoE will signal, especially after Wednesday’s shift in tone at the Fed.
Three of the U.S. central bank’s board members voted to drop the easing bias in its policy statement in the most divided decision since 1992.
Outgoing Chair Jerome Powell confirmed he would stay on as a governor for now to defend the institution’s independence as his successor Kevin Warsh, picked by low-rate advocate U.S. President Donald Trump, moves toward confirmation.
Laura Cooper, Global Investment Strategist and Head of Macro Credit at fund manager Nuveen, said the BoE meeting would be watched particularly closely, as markets have been pricing in multiple rate increases when it is over.
“The UK is so interesting to me in the sense that we see that as probably among the greatest mispricings in markets right now,” Cooper said, explaining that she expected a very different picture to play out given the likely hit to the UK economy.
“We think the BOE will have to cut; their next move will be a rate cut, probably not until Q4.”
Reporting by Stella Qiu and Reuters newsrooms; Editing by Tom Hogue, Thomas Derpinghaus and Timothy Heritage
The National Statistics Institute (INE) said in a statement that the contribution of net external demand to the quarter-on-quarter growth turned negative as imports grew more strongly than exports
International News via Reuters:
Portugal’s economy stagnated in the first quarter compared to the previous three-month period, when it expanded 0.9%, official data showed on Thursday, after severe storms and floods in January and February hit the export-heavy central region.
The National Statistics Institute (INE) said in a statement that the contribution of net external demand to the quarter-on-quarter growth turned negative as imports grew more strongly than exports.
By contrast, the contribution of domestic demand turned positive, with a “marked acceleration in investment”, benefiting from EU funds, even as private consumption slowed.
INE said in its flash estimate that gross domestic product still rose 2.3% in the first quarter from the same period a year earlier. In the fourth quarter, GDP grew 1.9% year-on-year.
Paulo Rosa, senior economist at Banco Carregosa, said the data showed that although Portugal’s economy remains resilient compared with a year earlier, reflecting the positive momentum of 2025, “it lost momentum at the start of 2026, pointing to a slowdown” due to the storms and energy price hikes amid the Iran war.
In March, the Bank of Portugal revised down its 2026 growth forecast to 1.8% from 2.3% in December, a projection the government has so far maintained. The economy grew by 1.9% last year.
Rosa sees the economy growing 1.8% to 1.9% this year.
Reporting by Sergio Goncalves; editing by Andrei Khalip and Ros Russell
Troika Bermuda – the performing arts and entertainment charity – is gearing up for opening night of Rooted… From the Ground Up this Thursday at the Earl Cameron Theatre. The production, part of the Young Choreographer Showcase, opens a three-night run from April 30th through May 2nd, with limited tickets remaining and organizers encouraging the public to secure seats soon.
Kendal Trott joined rehearsals for a behind-the-scenes look and spoke with the Co-Founders and Co-Creative Directors of Troika Bermuda, who shared more about the production and what audiences can expect from this year’s performance.
Public invited to watch from designated viewing area at Bermuda Aquarium Museum and Zoo as King Charles III visits during 100th anniversary celebrations
As the Bermuda Aquarium Museum & Zoo (BAMZ), prepares to welcome His Majesty King Charles III to the Bermuda, the public is advised that the facility will be temporarily closed during the morning of Friday, May 1st, to help safely prepare for this exciting occasion.
HM The King will be visiting the Aquarium and Trunk Island to learn more about local wildlife and conservation efforts as well help us celebrate BAMZ’s 100th Anniversary.
BAMZ will reopen the facility at 2:00 p.m., on May 1st, and looks forward to welcoming members of the public for an afternoon adventure.
For those interested in observing the visit, a designated public viewing area will be available in the BAMZ parking lot across from the facility. Parking for visitors will be available at Flatts Cricket Field.
BAMZ thanks the public for their understanding and flexibility as they prepare for this memorable day.
The public is encouraged to follow updates via the Government of Bermuda’s official Royal Visit webpage.
Media release supplied by the Government of Bermuda.
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