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UK homebuilder Persimmon defies sector gloom with strong 2026 outlook, shares rise

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UK homebuilder Persimmon defies sector gloom with strong 2026 outlook, shares rise

The builder expects underlying operating profit near the upper end of analyst consensus of 486 million to 517 million pounds ($593-$630 million)

International News via Reuters:

British homebuilder Persimmon bucked the sector trend on Tuesday, forecasting more home deliveries and profits at the top end of market estimates in 2026 as sales recover, sending shares 11% higher. 

The builder expects underlying operating profit near the upper end of analyst consensus of 486 million to 517 million pounds ($593-$630 million), contrasting with rivals Taylor Wimpey and  Vistry  which have recently warned of margin pressure and weaker demand.

The outlook, however, is based on an assumption that the fallout from the war in the Middle East can be contained.

“The impact of the Iran conflict on customer sentiment remains to be seen. Assuming the conflict with Iran and its impact is short, Persimmon is set to grow again in 2026,” CEO Dean Finch said in a statement.

Sales in the opening weeks of the year have been strong and the build-to-rent market is recovering from the slowdown seen in November, Finch said. 

Persimmon also reported underlying pre-tax profit of 445.6 million pounds for the year ended December 2025, ahead of market expectations, and its shares were on track for their best day since April 2020, if gains hold.

ALL THE RIGHT THINGS

Persimmon has weathered cost pressures better than rivals because it makes its own bricks, tiles and timber frames, shielding it from cost inflation squeezing its competitors.

RBC Capital Markets analyst Anthony Codling said the 2025 results and the beginning of this year confirmed their view

“that Persimmon is doing the right things at the right time in the right places, and is performing ahead of its peers.”

The company expects to deliver between 12,000 and 12,500 homes in 2026, while also leaning on marketing and incentives that helped it outperform sales expectations in 2025.

“The potential impact of current uncertainty on build cost inflation is not yet known, but we anticipate limited impact this year due to existing supplier agreements and accelerated production levels coming into 2026,” Finch said.

Reporting by Raechel Thankam Job in Bengaluru; Editing by Sherry Jacob-Phillips and Tomasz Janowski

King: Shortages across uniformed services a ‘troubling picture’

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King: Shortages across uniformed services a ‘troubling picture’

Shadow minister calls for strategy to address more than 160 vacant posts

Statement from Shadow National Security Minister, Robert King:

The Minister of National Security today presented what was intended to be an update on recruitment across Bermuda’s uniformed services. Unfortunately, what the statement actually revealed is a troubling picture of serious staffing shortages across the very services responsible for keeping Bermudians safe.

According to the Minister’s own figures, Bermuda currently has more than 160 vacancies across national security departments. The Bermuda Police Service alone has approximately 47 vacant posts. The Customs Department reports 52 vacancies, yet only 14 of those posts are funded, meaning that 38 positions required to properly secure our borders are not even budgeted for.

The Bermuda Fire and Rescue Service has 11 vacancies, the Royal Bermuda Regiment has 46 unfilled positions, and the Department of National Drug Control has 11 vacant clinical roles.

These vacancies represent fewer police officers on the streets, fewer customs officers protecting our borders, fewer firefighters available to respond to emergencies, and fewer addiction professionals available to support those battling substance abuse.

There are operational risks being created by running essential services so far below their full strength. Public safety requires consistent workforce planning, proper funding of essential posts, and a clear strategy to recruit and retain Bermudians in these critical roles.

If the Government is serious about national security, it must explain why such significant shortages exist and what concrete steps will be taken to restore the staffing levels required to properly protect our community. As we will continue to have retirements and the staffing levels are already below what is necessary there needs to be a strategy shared with the public. 

France to harness nuclear power for AI data centres, says Macron

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France to harness nuclear power for AI data centres, says Macron

France will be able to open data centres and meet the needs of artificial intelligence thanks to its large energy exports, French President Emmanuel Macron said on Tuesday

International News via Reuters:

France will be able to open data centres and meet the needs of artificial intelligence thanks to its large energy exports, French President Emmanuel Macron said on Tuesday.

“In France, last year, we exported 90 terawatt-hours of decarbonized electricity. Thanks to our nuclear plants, we have the ability to open data centers, to build computing capacity, to be at the heart of the artificial intelligence challenge,” Macron said in his keynote speech at the World Nuclear Energy summit in Paris.

Reporting by Forrest Crellin and Gianluca Lo Nostro; Editing by Sudip Kar-Gupta

G7, EU to hold calls on soaring energy prices

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G7, EU to hold calls on soaring energy prices

Oil prices surged to their highest levels since mid‑2022 on Monday propelled by fears of Gulf output cuts and disrupted tanker traffic

International News via Reuters:

G7 energy ministers will discuss soaring energy prices due to the war in Iran on a call on Tuesday while a group of European Union leaders will do so later in the day, officials said.

Oil prices surged to their highest levels since mid‑2022 on Monday propelled by fears of Gulf output cuts and disrupted tanker traffic.

G7 finance ministers said on Monday they were prepared to implement “necessary measures” in response to the price surge but stopped short of committing to coordinated emergency releases of reserves.

Even before the Iran crisis, European energy prices typically sat higher than those in the U.S. and China. European Commission chief Ursula von der Leyen has promised to propose measures to tackle the issue at an EU summit next week.

Tuesday’s G7 call is scheduled for 1245 GMT. French Finance Minister Roland Lescure, whose country holds the G7 presidency this year, said there were currently no supply problems in either Europe or the United States.    

The G7 comprises the United States, Canada, Japan, Italy, Britain, Germany and France. Italy, Germany and France are also EU members.

EU leaders in the evening will discuss competitiveness, including energy prices, on a call with German Chancellor Friedrich Merz, Italian Prime Minister Giorgia Meloni, Belgian Prime Minister Bart De Wever and others.

The EU imports more than 90% of its oil and around 80% of its gas, making European countries highly exposed to fluctuations in global oil and gas prices.

EU commissioners discussed potential measures last Friday including changes to energy taxes and amending the EU carbon price, which accounts for roughly 11% of industries’ power costs, a Commission document seen by Reuters showed.

Additional reporting by Sudip Kar-Gupta and Jan Strupczewski; writing by Ingrid Melander and Kate Abnett; editing by Jason Neely

Britain’s FTSE indexes rebound as Trump hints at end to Middle East war

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Britain’s FTSE indexes rebound as Trump hints at end to Middle East war

The blue-chip FTSE 100 gained 1.6% by 1015 GMT, while the mid-cap FTSE 250 added 1.9%

International News via Reuters:

London’s FTSE indexes rose on Tuesday, after three sessions of declines, as U.S. President Donald Trump suggested that the Middle East war could be close to ending.

The blue-chip FTSE 100 gained 1.6% by 1015 GMT, while the mid-cap FTSE 250 added 1.9%. If both indexes hold their gains, it would mark their biggest one‑day rise in nearly a year.

Trump’s comments on Monday led to a nearly 7% slump in oil prices, even as Iran’s Revolutionary Guards said they would not allow “one litre of oil” to be shipped from the Middle East if U.S. and Israeli attacks continue. [O/R]

Most major British subsectors were in the green, except the energy index, which fell 2.1%, with oil majors Shell down 1.7% and BP sliding 2.9%.

Meanwhile, interest rate expectations stayed volatile, with traders now evenly split on whether the Bank of England will cut interest rates at least once this year after briefly pricing in a hike on Monday, according to LSEG data.

Standard Chartered and Morgan Stanley delayed their forecast for a rate cut to the second quarter, amid inflation risks from the Middle East conflict that pushed the FTSE 100 4.6% below its record high in late February.    

The BoE is expected to deliver its interest rate decision on March 19.

Meanwhile, British consumer spending grew slowly last month as households turned more pessimistic about the economic outlook amid inflation worries, surveys from Barclays and the BRC showed.

In corporate news, Persimmon rose 6.3% after the home builder said it expects to deliver more homes in 2026, with profits likely at the top end of estimates.

Domino’s Pizza rose 3% as the fast-food chain bets on its new fried chicken brand to drive growth beyond pizza.

Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Harikrishnan Nair

Sterling ticks higher as lower oil prices temper inflation concerns

Bermuda Broadcasting Newsdesk
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Sterling ticks higher as lower oil prices temper inflation concerns

Sterling rose 0.1% to $1.3454 against the dollar

International News via Reuters:

The pound edged higher against the dollar on Tuesday as hopes of a de-escalation in the Middle East conflict pushed oil prices lower and eased inflation concerns for Britain’s import-dependent economy.

Sterling rose 0.1% to $1.3454 against the dollar. It was a touch lower versus the euro at 86.52 pence.

“The UK fundamentals are pretty poor, but in these situations you tend to see that a shakeout is followed by a recovery as investors rebalance,” said Nick Kennedy, FX strategist at Lloyds.

The currency has lost 0.3% against the dollar so far this month.

Given the far-reaching implications for the global economy, investors remain on edge and are scanning for even the smallest signs of relief in the conflict involving the U.S., Israel and Iran.

However, conflicting signals from Washington and Tehran prompted analysts to urge caution.

While U.S. President Donald Trump hinted that the war may end sooner than his initial timeline, Iran’s Revolutionary Guards were defiant, saying they would not let oil shipments through the Strait of Hormuz until attacks from the U.S. and Israel stop.

Standard Chartered and Morgan Stanley now expect the Bank of England to cut interest rates in the second quarter, delaying earlier forecasts.

Elsewhere, the euro inched up against the dollar at $1.1639, while the yen was flat at 157.77 per dollar.

DOMESTIC RISKS REMAIN

Beyond the hit from higher oil prices, the pound has also been weakened by subdued economic data and domestic political turbulence in recent weeks.

“With focus squarely on the Middle East, UK domestic issues have taken a back seat,” BofA Securities’ strategists wrote.

“However, with the May local elections barely two months away, we think markets are underpricing a renewed rise in domestic political uncertainty.”

British government bonds also looked to reclaim some ground after Monday’s plunge.

The yield on the two-year gilt, which moves inversely to prices, fell 6 basis points after climbing 10.7 bps in the previous session.

Reporting by Niket NishantEditing by Gareth Jones

Public asked to help find missing person

Bermuda Broadcasting Newsdesk
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Public asked to help find missing person

Update, 9:20 am: The Bermuda Police Service thanks the public for their assistance in locating 62-year-old David O’Brien. He has been found safe and well.

The 62-year-old was last seen on Point Finger Road, Paget, wearing shorts, a short‑sleeved shirt and sneakers

The Bermuda Police Service is seeking the public’s assistance in locating 62-year-old Bermuda National, David Michael Obrien.

Mr. Obrien is described as being 5’ 7” in height, slim build, light complexioned with medium length, blonde hair.

He was last seen on Point Finger Road, Paget, around 5:45 p.m. on Monday, February 9, 2026.

When last seen, Mr. Obrien was wearing shorts, a short-sleeved shirt and sneakers.

Anyone with information on the whereabouts of 62-year-old David Michael Obrien is asked to call the main police number, 295-0011.

Premier salutes church’s enduring service

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Premier salutes church’s enduring service

At the 140th Bermuda AME Conference, Burt thanks faith leaders and accepts the Richard Allen Legacy Award

The Premier, the Hon. David Burt, JP, MP, has extended congratulations to the clergy and delegates gathered for the 140th Session of the Bermuda Annual Conference of the First Episcopal District of the African Methodist Episcopal Church.

The Premier said, “Across Bermuda, The AME Church has played an enduring role in shaping our island. From supporting families in times of hardship to mentoring young people, caring for seniors, and strengthening neighbourhoods, the work of the church reflects a deep commitment to compassion and justice.”

During the conference, Premier Burt was presented with the Richard Allen Legacy Award, an honour recognising leadership inspired by the life and example of AME founder Bishop Richard Allen.

The Premier said he was both surprised and deeply humbled by the recognition.

Premier Burt said, “I did not expect this honour, and I accept it with sincere gratitude. 

“Bishop Richard Allen believed that faith must be lived through courage, service, and a commitment to justice. Any recognition that bears his name belongs not to one individual, but to the many Bermudians who I work alongside every day to build a better, fairer Bermuda.”

Premier Burt added that Bermuda’s faith community continues to play a vital role in helping the country move forward.

He said, “At a time when many families face real challenges, our churches continue to provide guidance, compassion, and hope. The Government values the role that our faith leaders and congregations play in encouraging young people and helping to build a stronger and fairer Bermuda for everyone.”

The 140th Session of the Bermuda Annual AME Conference concluded yesterday. Notably, during the Conference, Rev. Kent Bascome was ordained as an Itinerant Elder, and Rev. Dr. Wendell Christopher, of St. Phillip AME Church was formally recognized upon his retirement from the itinerancy.

The Government of Bermuda extends its best wishes to the clergy and delegates who gathered for this historic conference and thanks the African Methodist Episcopal Church for its continued leadership, faith, and service to the people of Bermuda.

The Green Family pledges $500,000 for Maternity Unit and Special Care Baby Unit

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The Green Family pledges $500,000 for Maternity Unit and Special Care Baby Unit

The five-year donation, via the Bermuda Hospitals Charitable Foundation, will help modernise the Bermuda Hospitals Board Maternity Unit and Special Care Baby Unit

The Green Family has pledged a total of $500,000 over the next five years to Bermuda Hospitals Charitable Foundation (BHCF) in support of Bermuda Hospitals Board (BHB) and the hospital’s Maternity Unit and Special Care Baby Unit (SCBU).

This multi-year commitment will directly enhance BHB’s Maternity Unit and Special Care Baby Unit (SCBU), two facilities that provide critical, life-saving care to mothers and newborns. The Family’s investment will strengthen essential maternal and neonatal services, helping to ensure Bermuda’s families receive the care they need in a modern and supportive environment.

Alexander Green said: “Supporting Bermuda’s families at their most vulnerable and joyful moments is deeply important to us. Having welcomed my own two children into the world at the King Edward VII Memorial Hospital, I have a profound personal appreciation for the dedication of the maternity team.


The Maternity and Special Care Baby Units play a critical role in safeguarding the health of mothers and newborns across our island. We are proud to partner with the Bermuda Hospitals Charitable Foundation and the Bermuda Hospitals Board to help modernize these essential facilities, ensuring they reflect today’s standards of care and provide a safe, nurturing environment for every family they serve. We hope this commitment inspires others to join in to help strengthen the future of healthcare in Bermuda.”


BHCF’s Executive Director, Kim Pratt, expressed gratitude to the Green Family for their significant gift and for recognizing the urgency, importance and impact this project will have. “The Green Family’s past support has been pivotal in addressing the needs within our community, and we hope this early leadership gift will encourage others to support this priority in a significant way.” Pratt added, “The current environment of the Special Care Baby Unit & Maternity Unit, originally constructed in the 1960’s, requires immediate upgrades to meet modern hospital standards. As healthcare standards and patient needs continue to evolve, thoughtful investment in these areas ensures that care is delivered in an environment aligned with modern infection control standards, neonatal safety practices, and family-centered design.”


Bermuda Hospitals Board CEO & President Scott Pearman said the generous gift would move hospital plans for these areas into reality. “We are so thankful for the donation from the Green family and heartened that they invest in our facilities, assisting us in our vision of pursuing excellence through improvement for the betterment our entire Bermuda community.”


The Green Family’s commitment serves as an important example of community leadership and investment in Bermuda’s healthcare system.”

About Bermuda Hospitals Charitable Foundation (BHCF)
Bermuda Hospitals Charitable Foundation works independently to support Bermuda Hospitals Board in enhancing health and healthcare services across the Island. For more than two decades, philanthropic support has strengthened Bermuda’s hospital infrastructure and helped ensure that residents have access to high-quality medical care close to home

Bermuda Tonight – 09 March 2026

Bermuda Broadcasting Newsdesk
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Bermuda Tonight – 09 March 2026

Iran War: Gas and energy price impact?

Gary Foster Skelton
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Iran War: Gas and energy price impact?

Regulation may guard against immediate gas hikes due to the war in Iran, but BELCO says it ‘cannot fully shield customers from rising oil prices’

Bermuda Container Line’s MV Oleander (file photo); People attend a gathering to support Iran’s new supreme leader Mojtaba Khamenei (Majid Asgaripour/WANA (West Asia News Agency) via REUTERS; Rubis gas station in Bermuda (file photo)

Bermudians may not see prices jump at the pump – yet.

Any impact on energy costs, however, will be known before the end of the month.

At the Pump…

As war rages on in the Middle East, sending oil prices surging, Jermaine Simons at RUBiS says the local impact may be moderated by several factors.

“Pump prices in Bermuda do not move in direct response to daily market fluctuations”, Mr Simons says, “as local fuel prices are regulated and typically reviewed on a periodic basis rather than daily.”

Additionally, the fuel Bermuda imports is already refined, and comes mainly from the U.S. Gulf Coast and Caribbean. Mr Simons says prices in this market are typically assessed over a 3-month reference period, which helps reduce the impact of sudden price spikes.

Mr Simons adds that Bermuda’s maximum retail pump prices are controlled by the Regulatory Authority, meaning any change will have to be carefully reviewed before hitting customers.

Meanwhile, Alcindor Bonamy, General Manager at SOL, says the hostilities in the Middle East are contributing to cost increases to the fuel supply chain into the Caribbean and Bermuda.

However, he adds that “while we are seeing increases in fuel prices and freight costs, we do not currently anticipate any disruption to product availability.”

Back in 2022, Premier and Finance Minister David Burt put a temporary freeze on gas and diesel prices as the war in Ukraine caused them to rise.

We reached out to Government to see if a similar move may be considered in the face of the war in Iran. We had not received a response by news time.

At the Plug…

BELCO says it is monitoring global fuel prices, as the war in Iran drives oil costs upward.

The monopoly electricity provider says it uses strategies to navigate price volatility, but it “cannot fully shield customers from rising oil prices.”

“The current unrest in the Middle East is pushing prices higher, and this will unfortunately continue to affect the cost of electricity in Bermuda.”

The Fuel Adjustment Rate (FAR) in everybody’s BELCO bill is amended quarterly by the Regulatory Authority, reflect any variation in imported fuel costs.

The next adjustment is due April 1st, and will be announced by the RA in late March.

READ comments from Rubis, SOL and BELCO below…

Jermaine Simons, RUBiS Energy Bermuda

Potential Impact of Rising Oil Prices on Fuel Costs in Bermuda

While global crude oil prices have recently risen above $100 per barrel, the impact on fuel prices at the pump in Bermuda would not necessarily be immediate and may be moderated by several factors.

Global Oil Prices and Refined Fuel Costs

Higher crude oil prices generally increase the cost of refined products such as gasoline and diesel, as refineries pay more for crude feedstock.  However, pump prices in Bermuda do not move in direct response to daily market fluctuations, as local fuel prices are regulated and typically reviewed on a periodic basis rather than daily.

Bermuda Imports Refined Fuel

Bermuda imports finished fuels, primarily from the U.S. Gulf Coast and Caribbean region, with occasional liftings from the U.S. Eastern Seaboard.  Local pricing is therefore influenced by refined product benchmark prices in the U.S. Gulf market.  These benchmarks are typically assessed over a 3-month reference period, which helps smooth short-term volatility and reduce the impact of sudden price spikes.

Regulatory Framework

Unlike many jurisdictions, maximum retail pump prices in Bermuda are regulated by the Regulatory Authority.  This framework means that any adjustments to fuel prices occur through an established review process rather than immediate reaction to changes in global markets.  As a result, any potentially significant impact on retail fuel prices would generally occur over a period of months rather than days.

Summary

Bermudians are unlikely to see an immediate change at the pump before mid-March.  Should global oil price benchmarks remain elevated for a sustained period, gradual adjustments could occur through the normal regulatory pricing mechanism.  If the increase in oil prices proves temporary, the impact on local fuel prices may be minimal. 

Alcindor Bonamy, General Manager, Sol (Sunoco)

“Hostilities in the Middle East are currently impacting both freight and fuel markets, contributing to cost increases across many global supply chains, including the fuel supply chain that supports reliable delivery of fuel products into the Caribbean, inclusive of Bermuda. While we are seeing increases in fuel prices and freight costs, we do not currently anticipate any disruption to product availability.”

BELCO spokesperson

“Each quarter, the Fuel Adjustment Rate is adjusted to reflect the actual cost of fuel for our customers. BELCO continues to monitor global fuel markets and uses disciplined strategies to minimise the impact of fuel costs. These strategies help manage price volatility but cannot fully shield customers from rising oil prices. The current unrest in the Middle East is pushing prices higher, and this will unfortunately continue to affect the cost of electricity in Bermuda. The next Fuel Adjustment Rate will be reviewed and set by the Regulatory Authority in late March, with changes taking effect on April 1st.”

Oil prices soar as Iran war continues

Gary Foster Skelton
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Oil prices soar as Iran war continues

Bermuda shipping companies are closely monitoring the situation

Hopes of a swift end to conflict in the Middle East appear dashed following the selection of Mojtaba Khamenei as new Supreme Leader in Iran.

The cost of fuel in the US is rising, amid fears of inflation and a lingering war in the Middle East; Bermuda shipping companies are monitoring the situation.

Mojtaba Khamenei, a 56-year-old Shi’ite cleric, is the son of Ali Khamenei, whose was killed during the initial joint US and Iraeli airstrikes against Iran.

US President Donald Trump has demanded Iran’s unconditional surrender, and is unhappy with the new choice of leader. Israel had said it would kill whoever succeeded the elder Khamenei unless Iran ended its hostile policies.

So far, at least 1,230 Iranians have been killed – including civilians and children, while seven US servicemembers were killed. There have been more casualties in Israel, Lebanon, Saudi Arabia and further afield following Iranian strikes.

The prospect that disruptions to global energy supplies could persist sent oil prices surging past $100 dollars a barrel on Monday, sparking fears of 1970s-style inflation.

The war has effectively shut the Strait of Hormuz, a chokepoint for a fifth of global oil and liquefied natural gas.

On Thursday, the American Automobile Association reported that the average US price for a gallon of gasoline had jumped from $2.98 to $3.25 in a week.

Any impact on local fuel prices, as well as energy or shipping costs, remains to be seen.

Richard Todd of the Neptune Group, managers Bermuda Container Line and the MV Oleander, says they are monitoring the situation, but it is too early to determine what impact it will have on operating costs.

A similar sentiment was relayed by Howard Pitcher, VP of Operations at Container Ship Management, operators of the Somers Isle.

In the US, Donald Trump won a second presidency in 2024, after pledges to end foreign wars and cut the cost of living.

Yesterday, he posted on the Trump-owned Truth Social platform, “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!”

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