Third Point buys stake in Spanish defence firm Indra, source says
A spokesperson for Indra declined to comment on Third Point’s purchase, which was first reported by Bloomberg
International News via Reuters:
U.S. hedge fund Third Point has bought a stake in Spanish defence company Indra and supports its chairman’s plan to acquire smaller rival Escribano Mechanical & Engineering, a market source familiar with the matter told Reuters on Monday.
A spokesperson for Indra declined to comment on Third Point’s purchase, which was first reported by Bloomberg. This cited a letter sent to Indra’s board and holding group Sepi, which manages Madrid’s 28% stake in the company.
The size of the stake was not mentioned in the letter.
A spokesperson for Sepi also declined to comment.
The potential acquisition of Escribano Mechanical & Engineering, which is owned by Indra chairman Angel Escribano and his brother Javier, has caused tension among some Indra shareholders concerned about conflicts of interest.
Third Point’s chief executive Dan Loeb wrote in his letter to Indra and Sepi that he strongly supported the plan to acquire EM&E, viewing it as a unique opportunity to create a Spanish defense champion, Bloomberg reported.
Reporting by Paolo Laudani and Victoria Waldersee, Editing by Alexander Smith
Spa offers ‘greener approach’ to beauty care
As Bermuda celebrates Spa Month, local businesses are showcasing wellness-focused services for both residents and visitors.
Lacquered Beauty Lounge began as a mobile service and has grown into a studio built around eco-conscious, non-toxic beauty care.
Inspired by clients with health sensitivities and special care needs, the lounge offers a greener approach to nail services, waxing, facials, makeup, and more.
In support of Spa Month, the business is rolling out special offers.
Kendal Trott spoke to founder and operator Astoria Smith.
Climate Challenge: A Decade After Paris Agreement
Data from some of the world’s leading scientific agencies shows global warming has sped up markedly since the mid‑2010s
International News via Reuters:
Ten years after the Paris Agreement took effect, newly released climate datasets show the world warming at an accelerating pace, with 2025 ranking among the three hottest years ever recorded, and ocean heat and sea levels crossing new thresholds.
U.S. President Donald Trump, a climate-change sceptic, has rolled back a series of environmental policies over the past year and has described climate change as a hoax – a stance which has helped lead to the environmental agenda being challenged across the globe.
Although countries agreed a deal to pledge more funding for poorer countries to adapt to extreme weather at the annual United Nations meeting in Brazil last year, they failed to agree on more explicit plans to phase out fossil fuels and strengthen emissions-cutting plans.
Data from some of the world’s leading scientific agencies shows global warming has sped up markedly since the mid‑2010s.
EMISSIONS: A WIDENING GAP
The World Meteorological Organization’s (WMO) Global Atmosphere Watch network shows concentrations of carbon dioxide, methane and nitrous oxide climbing to record highs, driving the temperature spike observed from 2023 to 2025, scientists say.
Global fossil fuel carbon dioxide emissions are projected to climb to a record 38.1 billion tonnes in 2025, driven by rising coal, oil and gas use despite rapid growth in renewable energy, according to the latest Global Carbon Budget report.
The report — produced by an international team of more than 130 scientists — estimates global fossil fuel CO₂ emissions will rise 1.1% next year, pushing atmospheric CO₂ concentrations to roughly 52% above pre‑industrial levels.
Researchers warn there is only room for about 170 billion more tonnes of CO₂ — equivalent to roughly four years of emissions at current rates – if the world wants to cap global warming at 1.5° Celsius above the pre-industrial average.
Emissions are projected to increase in China, India, the United States and the European Union, while falling in Japan, although China has made significant investments in renewable energy.
TEMPERATURES: A DECADE OF ACCELERATION
NASA’s Goddard Institute for Space Studies (GISS) said the Earth’s surface in 2025 was 1.19°C above the 1951–1980 average, effectively tying with 2023 as one of the warmest years ever measured.
The WMO’s consolidated dataset places 2025 at 1.44°C above pre‑industrial levels, ranking it among the top-three warmest years over the 176 years of recorded temperatures. [nasa.gov] [wmo.int] [berkeleyearth.org]
ARCTIC: RAPID COLLAPSE OF SEA ICE
The U.S. National Oceanic and Atmospheric Administration’s (NOAA) 2025 Arctic Report Card confirmed that October 2024–September 2025 was the warmest period since 1900, and the region continues to warm more than twice as fast as the global average.
Sea‑ice extent reached the lowest winter maximum ever recorded in March 2025, at about 14.47 million square kilometers, according to the U.S. National Ice Center.
OCEANS: HEAT AND RISING SEAS
The oceans absorbed record amounts of heat in 2025, setting a new global high for upper‑ocean heat content, according to NOAA and Berkeley Earth.
Sea levels, measured by tide gauges and satellites, continue to rise. The Intergovernmental Panel on Climate Change projects a 0.20–0.29 meter rise by 2050 relative to 1995–2014.
Reporting by Canan Sevgili, Vera Dvorakova, Lucie Barbier and Alessandro Parodi; Editing by Simon Jessop and David Holmes
Australians released from Syrian camp returned due to ‘technical’ issues
Hukmiya Mohamed, a co-director of Roj camp, told Reuters that the 34 Australians had been handed to members of their families who had come to Syria for the release
International News via Reuters:
Thirty-four Australians released earlier on Monday from a camp holding families of suspected Islamic State militants in northern Syria have returned to the detention centre due to “technical reasons,” two sources told Reuters.
Hukmiya Mohamed, a co-director of Roj camp, told Reuters that the 34 Australians had been handed to members of their families who had come to Syria for the release. They were put on small buses for Damascus ahead of their departure from the country with a military escort.
However, the Australian families returned to Roj camp shortly after leaving, the sources said, due to “technical problems” between the families and the Damascus government.
The sources said that the families will head back to Damascus later on Monday.
“It’s purely a procedural issue to be resolved today,” a Syrian official said.
Roj camp holds more than 2,000 people from 40 different nationalities, the majority of them women and children.
Thousands of people believed to be linked to Islamic State militants have been held at Roj and a second camp, al-Hol, since the jihadist group was driven from its final territorial foothold in Syria in 2019.
The Australian government said in a statement that it will not repatriate people from Syria.
“Our security agencies have been monitoring – and continue to monitor – the situation in Syria to ensure they are prepared for any Australians seeking to return to Australia.
“People in this cohort need to know that if they have committed a crime and if they return to Australia they will be met with the full force of the law.
“The safety of Australians and the protection of Australia’s national interests remain the overriding priority.”
Syrian government forces seized swathes of northern Syria from the Kurdish-led Syrian Democratic Forces in January, before agreeing a ceasefire on January 29.
The U.S. military last week completed a mission to transfer 5,700 adult male Islamic State detainees from Syria to Iraq.
Mohamed said the Syrian Kurdish-led authorities had previously facilitated numerous releases from Roj, via coordination with foreign governments.
Roj camp is where British-born Shamima Begum is held. The British government took away her citizenship on national security grounds in 2019.
“Shamima Begum’s situation is the same as that of all the women in Roj camp … If her country wants her back, our doors are open,” Mohamed said.
Reporting by Orhan Qereman in Roj, Syria, Alasdair Pal in Sydney; Additional reporting by Feras Dalatey; Writing by Tom Perry and Feras Dalatey; Editing by Anil D’Silva and Sharon Singleton
US conducts first air transport of nuclear microreactor in bid to show technology’s viability
The agencies partnered with California-based Valar Atomics to fly one of the company’s Ward microreactors on a C-17 aircraft — without nuclear fuel — to Hill Air Force Base in Utah
International News via Reuters:
The U.S. Departments of Energy and Defense on Sunday for the first time transported a small nuclear reactor on a cargo plane from California to Utah to demonstrate the potential to quickly deploy nuclear power for military and civilian use.
The agencies partnered with California-based Valar Atomics to fly one of the company’s Ward microreactors on a C-17 aircraft — without nuclear fuel — to Hill Air Force Base in Utah. Energy Secretary Chris Wright and Under Secretary of Defense for Acquisition and Sustainment Michael Duffey were on the C-17 flight with the reactor and its components, and hailed the event as a breakthrough for U.S. nuclear energy and military logistics.
“This gets us closer to deploy nuclear power when and where it is needed to give our nation’s warfighters the tools to win in battle,” Duffey said.
President Donald Trump’s administration sees small nuclear reactors as one of several ways to expand U.S. energy production. Trump last May issued four executive orders aimed at boosting domestic nuclear deployment to meet growing demand for energy for national security and competitive AI advancements.
The Energy Department in December issued two grants to help accelerate development of small modular reactors.
Proponents of microreactors also have touted them as energy sources that can be sent to far-flung and remote places, offering an alternative to diesel generators which require frequent deliveries of fuel. But skeptics have argued that the industry has not proven that small nuclear reactors can generate power for a reasonable price.
“There is no business case for microreactors, which — even if they work as designed — will produce electricity at a far higher cost than large nuclear reactors, not to mention renewables like wind or solar,” said Edwin Lyman, director of nuclear power safety at the Union of Concerned Scientists.
The Energy Department plans to have three microreactors reach “criticality” — when a nuclear reaction can sustain itself — by July 4, Wright said.
The microreactor in Sunday’s event, a little larger than a minivan, can generate up to 5 megawatts of electricity, enough to power 5,000 homes, according to Valar CEO Isaiah Taylor. It will start operating in July at 100 kilowatts and peak at 250 kilowatts this year before ramping up to full capacity, he said.
Valar hopes to start selling power on a test basis in 2027 and become fully commercial in 2028. Although private industry funds its own development of nuclear technology, it also needs the federal government “doing some enabling actions to allow fuel fabrication here and uranium enrichment here,” he said.
Fuel for Valar’s reactor will be transported from the Nevada National Security site to the San Rafael facility, Wright told reporters.
However, even small generators result in a significant amount of radioactive waste, Lyman said. Other experts have said designers are not compelled to consider waste at inception, beyond a plan for how it will be managed.
Although disposal of nuclear waste remains an unresolved issue, the Energy Department is in talks with a few states, including Utah, to host sites that could reprocess fuel or handle permanent disposal, Wright said.
Reporting by Valerie Volcovici; Editing by Sergio Non and Lincoln Feast.
Austria files charges against suspect over planned 2024 Taylor Swift attack
The statement referred to the suspect’s arrest in August 2024, the same month as three planned Swift concerts were cancelled at short notice after Austrian authorities said they had foiled an attack
International News via Reuters:
Austrian prosecutors have filed terrorism-related and other charges against a now 21-year-old suspect arrested shortly before a 2024 Taylor Swift concert in Vienna, who they said planned to carry out an Islamist militant attack.
The Vienna prosecutors’ office plans to bring a criminal case against the unnamed suspect in Wiener Neustadt, a town near Vienna, accusing him of producing a small amount of the explosive triacetone triperoxide and attempting to purchase weapons illegally, it said in a statement on Monday.
The statement referred to the suspect’s arrest in August 2024, the same month as three planned Swift concerts were cancelled at short notice after Austrian authorities said they had foiled an attack.
The statement from the prosecutors’ office did not name the suspect, but he was identified by Austrian media as Beran A and is the only one to have been arrested in connection with the planned attack. Beran A’s lawyer was not immediately available for comment but has previously disputed accusations made against his client.
The prosecutors’ statement said the suspect was a member of Islamic State and that he is accused of carrying out online research into a type of shrapnel bomb used by that group, and of spreading Islamic State “propaganda material” online.
If convicted he faces up to 20 years in prison, the statement added.
Reporting by Francois Murphy; Editing by Alex Richardson and Sharon Singleton
Portugal says efforts to balance budget, cut debt constrained by storm damage
Estimating the damage to homes, factories and infrastructure from the storms will take some weeks, Miranda Sarmento told reporters as he arrived at a Eurogroup meeting in Brussels
International News via Reuters:
Portugal will do all it can to keep the budget balanced and reduce public debt, but its efforts are likely to be constrained by the economic impact of devastating storms, Finance Minister Joaquim Miranda Sarmento said on Monday.
Estimating the damage to homes, factories and infrastructure from the storms will take some weeks, Miranda Sarmento told reporters as he arrived at a Eurogroup meeting in Brussels.
“It is very important to help these people and businesses with emergency aid and reconstruction,” he said. “We will do everything to keep the budget balanced and continue reducing public debt.”
The government initially estimated more than 4 billion euros ($4.74 billion) in direct reconstruction costs and rolled out 2.5 billion euros in loans and incentives to help rebuild after Storm Kristin hit Portugal three weeks ago. The country was then hit by further weather fronts through Saturday.
The government has forecast that the budget surplus will narrow from about 0.3% of GDP in 2025 to 0.1% this year. That would mark Portugal’s fourth consecutive year of surpluses, a relatively rare outcome among euro zone economies.
Miranda Sarmento said 2026 was already set to be a “very difficult year” because 2.5 billion euros in loans from the EU recovery funds are weighing on the budget as expenditure, unlike last year when only grants were used, narrowing the government’s fiscal room.
The government expects the public debt ratio to drop to 87.8% of GDP this year from 90% last year.
Before the storms, the government forecast the economy would grow 2.3% this year after expanding 1.9% in 2025.
($1 = 0.8436 euros)
Reporting by Sergio Goncalves and Inti Landauro; editing by Charlie Devereux and Ros Russell
Siemens Energy investors say wind unit spin-off is premature
The comments reflect support for the company’s strategy of stabilising the business first and only then looking at possible strategic options
International News via Reuters:
Three major Siemens Energy shareholders said the company should prioritise fixing its loss-making wind turbine division before considering a spin-off, responding to calls from an activist investor pressing for a break-up.
The comments reflect support for the company’s strategy of stabilising the business first and only then looking at possible strategic options.
U.S. activist shareholder Ananym Capital in December disclosed a stake in Siemens Energy, pushing for a spin-off of its wind business Siemens Gamesa, saying it could be worth $10 billion.
Group management has said the idea has merit, but it wants to restructure the business and is targeting breakeven this year following a 1.36 billion euro ($1.61 billion) loss in 2025.
SIEMENS ENERGY HIGH SHARE PRICE OFFERS COVER FOR MANAGEMENT
Shareholders at the group’s annual general meeting on February 26 are expected to debate the future of Siemens Gamesa.
Tobias Klaholz, a fund manager at DWS, which according to LSEG data holds 1.84% in Siemens Energy, said meeting the short-term priority of stabilising the unit and significantly improving profitability was crucial.
“It therefore seems too early for a possible spin-off. In the medium term, however, a review of Siemens Gamesa definitely makes sense,” he said.
Ingo Speich of Deka Investment, which holds around 0.88% of the German power equipment manufacturer, also said the focus should be on Siemens Gamesa’s restructuring.
“However, if there are new significant burdens, this could quickly change. Then the future of the wind division would have to be reconsidered more broadly,” he said.
Charlie Penner, Ananym’s co-founder, also said Siemens Gamesa would have to be strengthened before it could be spun off.
“As that day gets closer and as Gamesa approaches profitability, the board should be prepared to act decisively,” he said in emailed comments.
Shareholders said Siemens Energy’s share price performance, boosted by demand for infrastructure to power artificial intelligence technology, had provided some shelter for management from Siemens Gamesa’s ongoing problems.
Union Investment fund manager Maria Mihaylova said Siemens Gamesa was an “important part of the turnaround story of Siemens Energy”, and that there was no need for a spin-off.
($1 = 0.8430 euros)
Reporting by Christoph Steitz; Editing by Joe Bavier and Barbara Lewis
‘Lovers’ Arch’ collapses on Valentine’s Day on Italy’s Adriatic coast
The natural arch, part of the Sant’Andrea sea stacks near the town of Melendugno in the southern region of Puglia, had long been a popular backdrop for wedding proposals and tourist photos
International News via Reuters:
A famous rock structure on Italy’s Adriatic coast known as the “Lovers’ Arch” collapsed on Valentine’s Day after days of bad weather, prompting local officials to warn that other stretches of the fragile coastline could be at risk.
The natural arch, part of the Sant’Andrea sea stacks near the town of Melendugno in the southern region of Puglia, had long been a popular backdrop for wedding proposals and tourist photos.
“This is an unwanted Valentine’s Day gift,” Melendugno Mayor Maurizio Cisternino told the local Corriere Salentino newspaper, calling the collapse “a very hard blow” for the area’s image and for tourism.
Cisternino said days of heavy rain, strong winds and rough seas had battered the coastline and ultimately destroyed the arch. “Nature has taken back what it created,” he said.
Officials have warned that other parts of the rocky coastline could also collapse, with cracks visible along the cliff, underscoring the growing threat of coastal erosion.
Storms and heavy rain in recent days have also eaten away at long stretches of coastline on the Ionian Sea, from Ugento to the beaches of Gallipoli, damaging beach structures, causing small cliff falls and harming ports.
Weeks of terrible weather this year have also caused damage estimated at well over a billion euros in southern Italy, including a landslide that has forced more than 1,500 people to evacuate their homes in the Sicilian town of Niscemi.
Reporting by Crispian BalmerEditing by Ros Russell
Furbert gold headlines successful Pacers campaign in Maryland
The Bermuda Pacers Track Club are heading home from the PVA 14 & Under National Age-Group Invitational in Landover, Maryland, with a gold medal and a series of commanding top-ten finishes. Competing at the world-class Prince George’s Sports & Learning Complex, the island’s young contingent proved their mettle against a deep field of North American talent.
The headline performance came from Skye Furbert, who claimed victory in the 9-10 Girls Long Jump. Furbert produced a commanding personal best leap of 3.57 metres to secure the gold, before showcasing her versatility on the track with a fifth-place finish in the 60m final (9.27s).
The Pacers’ middle-distance squad also impressed, led by Mylah Desilva in the 13-14 Division. Desilva navigated a competitive 400m field to finish eighth overall in the final, stopping the clock at a sharp 1:02.97. Her performance was mirrored by teammate Amaya Davis, who narrowly missed a podium spot in the long jump, finishing fourth with a leap of 4.60 metres.
Gritty displays from Giselle Reid-Rubaine, Diamond Morris, and Ava St Luce in the sprint and 400m categories rounded out a campaign defined by technical progression and personal bests. As the club returns to local soil, the focus shifts to the Skyport Magic Mile, where many of these Maryland medallists will be the ones to watch as they look to build on their international momentum.
Thomas and Hilgers master the elements at Port Royal
The 2026 Butterfield Bermuda Junior Championships concluded in dramatic fashion at Port Royal Golf Course, as Alabama’s SJ Thomas and Arizona’s Aubrey Hilgers emerged from a world-class field to claim two of the most prestigious titles in junior golf. On a day where the famous coastal layout “bared its teeth,” both champions produced composed sub-par rounds to secure their victories.
SJ Thomas, from Birmingham, Alabama, delivered a final-round masterclass. A three-under-par 68 propelled him to the summit of the leaderboard, making him the only player in the field to finish the tournament under par at two-under. His scorecard was a whirlwind of activity, featuring six birdies to offset a bogey and a double bogey, as he navigated the tricky back nine with clinical precision.
Georgia’s Charles David Beeson mounted a late charge with a matching 68 to finish second at three-over par. However, local headlines were dominated by Bermuda’s Oliver Betschart, who finished in a tie for third at five-over par. Betschart’s final-round even-par 71 delighted the home gallery and reinforced his status as one of the region’s most exciting rising stars.
The Girls’ Division provided an equally enthralling finish as Aubrey Hilgers from Surprise, Arizona, broke away from a three-way overnight deadlock. Hilgers carded a final-round one-under-par 70 to finish at eight-over par for the week. Her steady round included four birdies and eleven pars, allowing her to pull away from Annie Jin and Nikitha Suresh, who both finished tied for second at ten-over par.
It was a day of resilient displays for the remaining local contingent:
- John Bart secured a top-five finish, ending tied for fifth at six-over par after a final-round 73.
- Arman Newton saved his best for last, firing a two-over-par 73 to climb into a tie for 31st.
- In the Girls’ field, Darina Betschart finished 22nd at 39-over par after a testing final round.
As the curtain falls on another successful championships at Port Royal, the focus shifts to the future. For Thomas and Hilgers, the road leads back to the United States with major international exemptions and two of junior golf’s most coveted trophies in their luggage.
