The Financial Conduct Authority said it had lifted the bans on Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar, and had removed the related final notices from its public records
International News via Reuters:
Britain’s financial watchdog said on Friday it had revoked bans on four former traders previously sanctioned over the LIBOR and EURIBOR manipulation scandal after the Court of Appeal overturned their convictions earlier this month.
The Financial Conduct Authority said it had lifted the bans on Colin Bermingham, Philippe Moryoussef, Jonathan Mathew and Christian Bittar, and had removed the related final notices from its public records.
Reporting by Sam Tabahriti; editing by Sarah Young
The blue-chip FTSE 100 index edged 0.08% lower to 10,831.70 points by 10:12 GMT, but was on track for its best week since early April, while the midcap FTSE 250 rose 0.55%
A worker walks near an LSEG (London Stock Exchange Group) branded cube inside the LSEG headquarters in Paternoster Square, London, Britain, September 8, 2026. REUTERS/Toby Melville
International News via Reuters:
Britain’s main stock indexes were heading for weekly gains on Friday, as investors sought refuge in defensive sectors from a rout in AI-linked equities globally, while a dip in bond yields boosted risk sentiment ahead of next week’s inflation figures.
The blue-chip FTSE 100 index edged 0.08% lower to 10,831.70 points by 10:12 GMT, but was on track for its best week since early April, while the midcap FTSE 250 rose 0.55%.
• The defensive healthcare sector was set for a nearly 5% gain for the week, despite falling over 1% on Friday
• Drugmakers AstraZeneca and GSK fell 1.8% and 1%, respectively, on the day
• The personal goods sector was up 7.2% for the week
• Heavily weighted banks slipped on Friday after the Guardian reported British finance minister John Healey was set to tax the lenders in the budget later this month
• “While big international banks in the UK are likely to be less affected, domestic names are in the firing line,” said Kathleen Brooks, research director at XTB, in a note
• NatWest Group and Lloyds Banking were down 2.2% each
• Bank of England Governor Andrew Bailey said signs of second-round inflation were limited ahead of next week’s data release for September
• Traders are pricing in four BoE rate hikes over the next 12 months, according to LSEG data
• The UK’s 10-year benchmark yields were heading for weekly declines after three straight weeks of gains
• Defence stocks helped limit the losses on Friday: BAE Systems, Melrose Industries and Babcock International rose between 1.5% and 3.7%
• E-commerce group THG rose 6.7%, extending a surge of 16% on Thursday after it raised its annual adjusted core profit forecast
Reporting by Darshan Kumar in Bengaluru; Editing by Sahal Muhammed
The pound hit its highest level against the dollar in more than three weeks on Friday and was set to snap a four-week losing streak
International News via Reuters:
Sterling was on track for a third consecutive weekly gain against the euro as the single currency remained under pressure following the French bond selloff at the turn of the month, with investors closely watching UK economic data and the fiscal trajectory.
The pound hit its highest level against the dollar in more than three weeks on Friday and was set to snap a four-week losing streak.
Britain’s economy beat forecasts in August as a further jump in the computer programming sector offered fresh evidence that AI is boosting growth.
“The economy’s resilience gives the Bank of England room to raise rates without running the risk of putting additional pressure on an already weakening economy,” Thu Lan Nguyen, head of forex and commodity research at Commerzbank, said.
“It also takes some pressure off the Chancellor, who remains committed to reducing the budget deficit,” she added.
British finance minister John Healey said his first budget to be delivered on October 29 would include measures to offer “a bit of breathing space” to the country.
The euro recently touched its lowest level of the year against the pound, suggesting markets are confident the UK government can strike a balance between maintaining fiscal discipline and supporting growth. Still, recent experience suggests investors should not underestimate the residual risks surrounding the UK’s fiscal plans.
The single currency was on track for a 0.24% weekly fall versus the pound and was last down 0.12% at 84.41 pence on Friday.. It reached 84.28 pence on Wednesday, its lowest since June 2025.
Sterling was set for a weekly rise of 0.66% against the dollar and was last up 0.40% at $1.3329, its highest level since September 23.
Investors remained focused on the Bank of England’s rate path amid concerns that rising yields could hurt economic growth and put further pressure on public finances. Markets expect the BoE to raise rates by 25 basis points at its next meeting on November 5, according to LSEG data.
BoE Governor Andrew Bailey said on Friday soaring energy prices so far appear to be having limited wider effects on British prices, but it is too soon to draw firm conclusions about how strong such second-round effects will be.
reporting by Stefano Rebaudo; editing by Xevi Fontdegloria
The inaugural Bermuda Black Film Festival officially kicked off today, bringing together local and international filmmakers, industry professionals and creatives for four days celebrating Black storytelling and cultural exchange.
Under the theme “Connecting Voices Across the Diaspora,” the festival features film screenings, panel discussions, networking opportunities and workshops, with 30 films representing more than 15 countries and territories.
Kendal Trott was there for the opening day and spoke with festival founder Dr. Dana Selassie and festival producer Sia Spence, who highlighted the women participating in today’s panel and shared what audiences can expect throughout the remainder of the festival, which runs through Sunday, October 18th.
Shortly before 8:00 p.m. on Thursday, 15th October 2026, police were dispatched to a report of a disturbance at the Southampton Rangers Sports Club.
Upon arrival, officers established that a male had sustained stab wounds. He was transported to King Edward VII Memorial Hospital for treatment of his injuries.
One man has been arrested in connection with this incident.
Police are appealing to anyone who may have witnessed the incident or has information that could assist with the investigation, and has not yet spoken with detectives, to contact the police on 211 at the earliest opportunity.
Police enquiries into the circumstances surrounding this incident are ongoing.
Digicel Bermuda says it has invested tens of millions of dollar in the five-year project to modernise the island’s telecommunications infrastructure
Digicel Bermuda is entering the final phase of its island-wide copper-to-fibre migration, marking a significant step in the modernisation of the country’s telecommunications infrastructure.
Several millions of dollars have poured into the network upgrades which Digicel say will place Bermuda in a stronger global position.
The FSB’s guidance, published Thursday, comes as regulators ramp up efforts to contain growing AI risks including the threat of AI-enabled cyber attacks, Reuters reported this week
FILE PHOTO: “AI Artificial Intelligence” words, a keyboard and a robotics hand in this illustration taken, September 23, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
International News via Reuters:
The Financial Stability Board (FSB), a global standard setter, has called for greater human oversight of agentic AI in final guidance for banks and other firms on managing the technology’s risks.
The FSB’s guidance, published Thursday, comes as regulators ramp up efforts to contain growing AI risks including the threat of AI-enabled cyber attacks, Reuters reported this week.
• In draft guidance published in June, which it “strongly encouraged” boards to refer to, the FSB warned that AI agents – which can plan and execute tasks with limited human oversight – pose distinct challenges for human oversight
• Publishing its final guidance, the group said it had strengthened its recommendations on agentic AI, citing feedback on the draft, growing interest among financial institutions in adopting the technology, and the distinct risks and controls it entails
• A series of incidents has heightened policymakers’ concerns about the potential for AI systems to circumvent safeguards, including an incident in July in which an OpenAI agent escaped a controlled testing environment and hacked AI company Hugging Face
• Among the changes, the FSB now says that in higher-risk use cases, more intensive human oversight will be critical
• Firms should set clear, risk-based triggers for when an agent must seek human approval, it added
• The FSB has also removed a guideline that said financial institutions should treat AI as “synthetic employees”. Instead, firms should recognise that “AI agents do not reason like humans and may interpret pre-defined goals in unexpected ways.”
Reporting by Phoebe Seers; Editing by Andrew Cawthorne
New law cuts down inspections, eases licensing rules, and introduces flexible payments
Media release supplied by the Ministry of Tourism & Transport, Culture & Sport:
Most motorists will no longer need a doctor’s medical certificate to renew their driver’s licence, the Minister of Tourism and Transport, Culture and Sport, Owen Darrell, said on October 15, 2026.
From Monday, October 19, applicants can go online to transportcontrol.gov.bm and submit a Personal Medical Declaration ahead of their licence renewal. This declaration confirms there is no condition affecting the applicant’s eyesight, hearing, or other ability to drive safely.
Mr Darrell said the change replaces the doctor’s certificate requirement for the great majority of renewals, reducing paperwork and cost.
The law continues to require a certificate for drivers aged 70 and over, for other classes of vehicle, and in any case where the Director of Transport Control has concerns about a declaration.
Providing false or misleading information on the declaration remains an offence carrying a $1,000 penalty, according to the Minister.
Part of wider reforms
The change forms part of the Motor Car and Auxiliary Bicycles (Miscellaneous) Amendment Act 2026.
The Act also reduces the number of inspections required for new private motor cars during their first five years on the road, provided the vehicle remains consecutively licensed.
Mr Darrell said today’s vehicles are built to exceptionally high standards, and the legislation acknowledges that reality while leaving the Transport Control Department’s broader inspection regime in place.
The Act introduces greater flexibility for private motor cars, motorcycles and auxiliary bicycles. Motorists facing special circumstances can now license a vehicle for one, three or six months, rather than a full year, or pay licence duties in instalments.
The legislation also moves inspection requirements for public service vehicles from a six-monthly to an annual schedule.
Mr Darrell said the legislation is about improving the customer experience and ensuring regulation is proportionate, practical and fit for purpose.
Harry, the younger son of King Charles, and Meghan shocked the monarch and other members of the royal family when they relocated from California to England two months ago with their children Prince Archie, 7, and Princess Lilibet, 5
Britain’s Prince Harry and Meghan, the Duke and Duchess of Sussex, arrive for a visit to The Community Recording Studio, a youth and community charity supporting young people through creative activities, mentoring and youth development, in Nottingham, Britain, October 15, 2026. REUTERS/Hannah McKay
International News via Reuters:
Prince Harry and his wife Meghan appeared together in public on Thursday for the first time since they made a surprise return to Britain, revisiting the city where they made their maiden joint official engagement nine years ago.
Harry, the younger son of King Charles, and Meghan shocked the monarch and other members of the royal family when they relocated from California to England two months ago with their children Prince Archie, 7, and Princess Lilibet, 5.
In their first joint public outing since then, the couple returned to Nottingham in central England which they visited in 2017, shortly after it was announced they were getting married.
“It’s great to be back,” Harry said. “Wonderful and great to be back in Nottingham, too.”
They began by visiting a recording studio run by a youth and community charity which has received support from a £1.1 million ($1.46 million) donation announced by Harry last year.
At their next stop at the Himmah charity, which tackles food poverty, Meghan was reunited with four contributors to a charity cookbook released to raise funds in the wake of London’s Grenfell Tower fire disaster. She had donated £10,000 from the book’s proceeds to help the Himmah hub.
“We feel very protective of her. We absolutely love her,” said one of the four women, Leila Hedjem.
The engagements concluded with a visit to another charity the couple have backed which supports young people and is linked to their previous visit in 2017.
HARRY AND MEGHAN DIVIDE PUBLIC OPINION
Harry and Meghan, the Duke and Duchess of Sussex, have become deeply polarising figures since they stepped down from royal duties to move to California in 2020, going on to deliver scathing criticism of both the prince’s family and the royal institution itself.
Opinion polls show a majority of Britons hold a negative opinion of them, although young people are far more sympathetic.
On their visit to Nottingham nine years ago, when they were “working royals”, they were met by large flag-waving cheering crowds.
Thursday’s visit was a much lower-key affair, as the couple are now officially private citizens. But they were greeted by about 100 excited schoolchildren and well-wishers, along with large numbers of media.
Meghan looked emotional as one woman handed her a large bouquet of flowers and gave her a hug.
“I love seeing them, I’m pleased they’re back,” said Robin Warrener, who had also been among the crowd in 2017. “There’s far too much of the negative stuff. Every time you put the television on the news, there are snide remarks from the media, and I don’t like it.”
When Harry made his first solo public appearance since their relocation, he declared it was “good to be back on British soil”, but their return has not been without difficulties.
The location of their new home has been kept private amid security concerns and they are not living in a royal residence.
They had to move their children to a new school not long after they started term because of concerns about security, with the couple’s spokesperson also condemning the actions of “certain European paparazzi” intruding into their privacy.
($1 = 0.7549 pounds)
Writing by Michael Holden; Editing by Andrew Cawthorne and Hugh Lawson
Lagarde’s ECB term is scheduled to end in October 2027. Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election
FILE PHOTO: European Central Bank President Christine Lagarde addresses a press conference following the ECB Governing Council meeting at the ECB headquarters in Frankfurt, Germany, July 23, 2026. REUTERS/Heiko Becker/File Photo
International News via Reuters:
The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider reshuffle at the top of the ECB.
Lagarde’s ECB term is scheduled to end in October 2027. Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.
The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of the matter.
No final decision has been taken yet, they said.
A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.
Two of the people said the board could also set a date for a vote that would enable Lagarde to appear as the designated chair when the WEF’s annual meeting takes place in January in Davos, where political and business leaders gather to discuss global economic and financial issues.
They cautioned that Lagarde’s election was not certain but said the 70-year-old former French finance minister had broad support from the board, which lists 27 members on its website.
The ECB declined to comment.
FINDING A SUCCESSOR BEFORE THE FRENCH ELECTIONS
Either timetable would leave enough time for a new ECB President to clear all the formal hurdles that come with EU appointments well before the end of French President Emmanuel Macron’s term in May.
Lagarde’s desire to give Macron a say on her successor was one factor in the timing, a fifth person said. There is concern in European political circles that negotiations over who takes over from her could become more difficult if far-right leader Marine Le Pen were to win the French presidency.
Based in Geneva, the WEF board is currently co-chaired by BlackRock Chief Executive Larry Fink and Roche Vice Chairman Andre Hoffmann, who assumed the role after founder Klaus Schwab stepped down last year.
The board also includes public-sector figures such as International Monetary Fund Managing Director Kristalina Georgieva and Jordan’s Queen Rania and leading business chiefs like Salesforce’s Marc Benioff and Siemens’ Jim Hagemann Snabe.
Lagarde, who is attending the IMF and World Bank annual meetings in Bangkok this week, has said she will remain at the ECB until next year but has stopped short of committing to remain until her term formally ends in October.
Her exit would open a second vacancy on the ECB’s six-member Executive Board after Isabel Schnabel’s resignation last month. Chief Economist Philip Lane is meanwhile due to step down in May.
EU officials say the three appointments could be agreed as part of a package deal among member states.
The former central bank governors of the Netherlands and Spain, Klaas Knot and Pablo Hernandez de Cos, are seen as frontrunners for the presidency, while France is understood to be targeting the chief economist’s post.
Germany plans to put forward a candidate to replace Schnabel, who heads the ECB’s market operations, the people said.
Additional reporting by John Revill and Oliver Hirt in Zurich and Olivia Le Poidevin in Geneva; Editing by Mark John and Hugh Lawson
The government on Wednesday picked Lufthansa’s €1.2 billion bid for up to 49.9% of TAP, and its offer for the remaining shares, in exchange for €863 million in cash and a 5% stake in the Lufthansa Group, would complete TAP’s privatisation
FILE PHOTO: The first A330neo commercial passenger aircraft for TAP Air Portugal airline is seen at the Airbus delivery center in Colomiers near Toulouse, France, November 26, 2018. REUTERS/Regis Duvignau/File Photo
International News via Reuters:
Lufthansa is in talks to take full control of Portugal’s flag carrier TAP, as the Portuguese government seeks opposition support for the sale of the state’s remaining 50.1% stake for €1.351 billion ($1.52 billion).
The government on Wednesday picked Lufthansa’s €1.2 billion bid for up to 49.9% of TAP, and its offer for the remaining shares, in exchange for €863 million in cash and a 5% stake in the Lufthansa Group, would complete TAP’s privatisation.
Lufthansa CEO Carsten Spohr told reporters on Thursday that TAP was “an opportunity we couldn’t miss”, describing it as one of the very few remaining European network carriers at scale to be consolidated and “the perfect fit in terms of geographies and markets”.
The airline’s finance chief Till Streichert said Lufthansa submitted a non-binding proposal, which was subject to “further negotiations.” “This is an attractive minority investment in its own right, with additional upside from a future move to majority ownership,” he said.
Finance Minister Joaquim Miranda Sarmento told state broadcaster RTP late on Wednesday that the German airline’s proposal, which the minority centre-right government supports, would benefit both the flag carrier and Portugal’s economy.
According to a government presentation, the second phase of TAP’s privatisation proposed by Lufthansa, which values the 5% stake at €488 million, could take place by mid-2028.
The government, which had to secure opposition backing in parliament for the minority stake sale, will need its support again for the privatisation’s second phase, Sarmento said.
“We will assess the second phase, but this is an extraordinary opportunity for both the company and the country that Portugal cannot afford to miss,” he said.
The opposition Socialist Party and Chega said it was premature to talk about a full privatisation.
Sarmento said the 5% stake would make Portugal the Lufthansa Group’s second-largest shareholder and that Lufthansa’s growth plans for TAP would bring “many more employees, much more activity, much higher revenues” and “far greater benefits” to the economy.
($1 = 0.8913 euros)
Reporting by Sergio Goncalves and Klaus Lauer; Editing by Tomasz Janowski
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