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Britain secures record amount of solar in renewable power auction

The country has a target to largely decarbonise its electricity sector by 2030, which will require a huge scale-up of renewable power, including wind and solar

International News via Reuters:

Britain secured a record amount of solar power in an auction offering guaranteed electricity price contracts to renewable projects, the government said on Tuesday, as it seeks to meet its clean energy targets and drive down costs.

The country has a target to largely decarbonise its electricity sector by 2030, which will require a huge scale-up of renewable power, including wind and solar.

A total of 6.2 gigawatts of onshore wind, solar and tidal power projects won contracts with the bulk, some 4.9 GW, going to solar.

“By backing solar and onshore wind at scale, we’re driving bills down for good and protecting families, businesses, and our country from the fossil fuel roller coaster,” Energy Secretary Ed Miliband said in a statement.

Through the auctions, usually held annually, the government invites renewable project developers to bid for government-backed price guarantees for the electricity produced, called Contracts for Difference (CfDs).

When wholesale electricity prices are lower than the minimum, the government covers the difference, and if they go above, producers pay back the difference to the government.

This was the seventh such auction and Last month the government announced a record amount of offshore wind was also secured.

ENOUGH ELECTRICITY TO POWER 16 MILLION HOMES

Together, the seventh auction has secured a total of 14.7 GW of capacity, enough to power around 16 million homes, the government said.

The electricity price contracts, or strike prices, for onshore wind were 72.24 pounds per megawatt hour (MWh) in 2024 prices, while solar projects were awarded 65.23 pounds/MWh, which the government said was significantly cheaper than building new gas-fired power plants.

Some 157 solar projects secured contracts including EDF’s Cressing Solar Farm and RWE’s Clachaig Glen project.

Reporting By Susanna Twidale; Editing by Joe Bavier and Susan Fenton

Tesla names Europe executive to head global sales, Bloomberg News reports

The move follows the departure of Tesla’s head of North American sales, Raj Jegannathan, marking the latest in a string of executive exits at the EV maker over the past couple of years

International News via Reuters:

Tesla has named its head of European operations, Joe Ward, to oversee the company’s sales globally, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The move follows the departure of Tesla’s head of North American sales, Raj Jegannathan, marking the latest in a string of executive exits at the EV maker over the past couple of years.

Tesla did not immediately respond to a Reuters request for comment.

Ward joined Tesla as a logistics intern in 2010 and rose up the ranks to be named vice president for the EMEA region in 2022, according to his LinkedIn profile.

The Elon Musk-led EV maker’s sales have been pressured by increasing competition, particularly from Chinese and legacy automakers offering lower-priced EVs and brand damage from the CEO’s right-wing political stance.

The company reported its second consecutive drop in annual deliveries last month despite the EV maker’s efforts to drum up demand with incentives.

Tesla is pivoting to focus on developing its full self-driving system, robotaxis, and humanoid robots, as it shifts away from being primarily a carmaker even though its core EV business brings most of the company’s revenue.

Reporting by Akash Sriram in Bengaluru; Editing by Alan Barona

Britain’s financial regulator seeks to block crypto exchange HTX from UK social media

The regulator said it wanted Alphabet’s Google and Apple to remove HTX products from UK app stores and HTX’s social media accounts for UK-based consumers blocked

International News via Reuters:

Britain’s Financial Conduct Authority said on Tuesday it had asked social media companies and app stores to block access to crypto exchange HTX in the UK, stepping up efforts to prevent the group from promoting “illegal” crypto asset services.

The regulator, which filed a London High Court lawsuit against HTX last October, said it wanted Alphabet’s Google and Apple to remove HTX products from UK app stores and HTX’s social media accounts for UK-based consumers blocked.

Regulators and authorities around the world have for years warned that nascent crypto markets – which are generally less regulated than mainstream financial markets – present risks to investors. The FCA enforcement action is its first against a crypto firm illegally marketing its products to UK consumers. 

HTX, formerly known as Huobi, did not respond to a request for comment.

HTX CONDUCT IN ‘STARK CONTRAST’ TO OTHER FIRMS, FCA SAYS

Under UK rules, crypto companies that wish to attract British customers have to register with the FCA and submit to anti-money laundering and financial crime checks.

But HTX and Huobi are named on an FCA list of unauthorised companies designed to warn consumers against dealing with them.

The company had repeatedly advertised illegal crypto promotions to British consumers on social media platforms such as TikTok, X, Facebook, Instagram and YouTube, the regulator said.

Examples cited by the FCA include a page of HTX’s website with tutorials on how to trade on the HTX Exchange, saying “buy Bitcoin in a minute” and “learn spot trading in seconds”.

The FCA also cited a description of crypto loans on HTX’s website accompanied by a flame emoji and the phrases “borrow and repay any time for flexible trading” and “borrow to scale up your trades and profits”.

“HTX’s conduct stands in stark contrast to the majority of firms working to comply with the FCA’s regime,” said Steve Smart, the FCA’s joint head of enforcement and market oversight.

The regulator said HTX had taken steps to prevent new UK customers from registering accounts, but that existing UK users could still access unlawful financial promotions.

The FCA said HTX, which had an “opaque organisational structure”, had ignored repeated regulatory attempts to engage. Its lawsuit is filed against Panama-incorporated Huobi Global and “persons unknown”.

Nick Barnard, a partner at law firm Corker Binning, said the case illustrated the “near impossibility” of regulating the crypto asset industry from one jurisdiction, given FCA was unable to take direct action in the absence of any physical HTX presence in the UK.

“However, the FCA has likely decided that it must at least be seen to be taking a stand against those who blatantly flout the rules,” he said.

HTX was founded in 2013 and names Chinese crypto entrepreneur Justin Sun as a global adviser. Sun was not named in the lawsuit.

Reporting by Kirstin Ridley and Elizabeth Howcroft, additional reporting by Muvija M.; Editing by Bernadette Baum and Tomasz Janowski

Bermuda tops global cost-of-living rankings in 2026

Island recorded as 24% more expensive than New York City, the global benchmark

A new global cost-of-living index has placed Bermuda at the top of the world’s most expensive places to live, underscoring the financial pressure facing residents and businesses alike.

The 2026 index, compiled using New York City as the baseline at 100, shows Bermuda with a score of 124 – meaning everyday expenses, including rent, are roughly 24% higher than in New York City. The ranking compares relative prices for housing, groceries, transport, and other essential costs across countries and territories worldwide.

Bermuda finished ahead of other traditionally high-cost jurisdictions such as the Cayman Islands, Switzerland, and Iceland. At the opposite end of the scale, countries including Libya, India, and Madagascar were among those with the lowest reported costs of living.

The data was published by Visual Capitalist, one of the fastest-growing online publishers globally, known for its data-driven storytelling on markets, technology, energy, and the global economy. The findings add fresh context to ongoing local conversations around affordability, wages, and the rising cost of daily life in Bermuda.

SCAD Bees dominate as Bardgett sweeps Flat Classes

The Savannah College of Art and Design (SCAD) equestrian team continued their relentless pursuit of silverware this weekend, delivering a masterclass in precision to claim the team title at the IHSA Region 5 Zone 5 event. The team includes Bermudian Kayla Bardgett.

Competing at the state-of-the-art Ronald C. Waranch Equestrian Center, the “Bees” produced a flawless display to secure a perfect score of 49 points. The result further solidifies SCAD’s position at the summit of the regional standings, where they have consistently outpaced their rivals throughout the 2025-2026 campaign.

The dominance of the SCAD squad was evident from the outset, as they finished a comfortable ten points ahead of Reserve Champions, the University of Central Florida. The University of Florida completed the podium, finishing third with 33 points.

The victory marks another significant milestone for a program that has now secured multiple perfect scores this season, including a historic 50-point haul at the recent Winter Tournament of Champions.

While the team victory was a collective effort, Bermudian senior Kayla Bardgett stole the individual headlines with a commanding performance in the Open Flat Class.

Bardgett, a seasoned competitor for the Bees, expertly navigated her mount to secure first place. The win adds to an exceptional season for the senior, who also recently claimed the Reserve Champion title in the TOC High Medal class. Her consistency remains a cornerstone of SCAD’s regional dominance as the team maintains a formidable 59-point lead over UCF heading into the final stages of the season.

Warwick Academy ready to make a splash in Pennsylvania

Under the expert guidance of head coach Ben Smith, a talented 13-strong squad from Warwick Academy is set to represent Bermuda at the prestigious 2026 Easterns Swimming and Diving Championships this weekend.

The meet, held at the Kunkel Aquatic Center in Lancaster, Pennsylvania, is widely regarded as one of the premier events on the US independent school circuit, drawing elite competition from across the East Coast.

The Warwick contingent features a balanced blend of seasoned campaigners and rising stars across both divisions. The female team consists of five athletes: Elena Bortoli, Elanna Fulton, Sofia Leclerc, Allison Steynor, and Jorgia White.

On the men’s side, an eight-man squad will be hunting for podium finishes: Cameron Duda, Noah Fulton, Zachary Johnson, Logan Jones, Jacob Leclerc, Jamie MacFarlane, Ethan Smith, and Axel Wernbo.

For these athletes, the trip to Pennsylvania represents the culmination of a grueling winter training block back home in Bermuda. The Kunkel Aquatic Center is renowned for its “fast water,” providing a high-stakes environment for the squad to test their speed against top-tier American high school programs.

While individual personal bests are high on the agenda, the collective team points will be a primary focus as Warwick Academy looks to climb the overall standings among the dozens of competing schools.

Lone sailor rescued at sea

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MV Logos Hope diverts course to assist in rescue alongside Bermuda Islander

Good news at this hour … a lone sailor who was in distress at sea has been rescued.

As we reported earlier, the MV Logos Hope yesterday deviated from her planned route to the island at the request of the Bermuda Rescue Coordination Centre, to assist a sailor aboard a drifting sailboat caught in rough weather.

Logos Hope reports that it arrived at the sailor’s location at 7:00 this morning, working alongside another vessel, the Bermuda Islander.

Captain Matt Stephens of Logos Hope said, “We are happy to report that Bermuda Islander successfully rescued the sailor who will continue with them to their next port of call.”

Logos Hope, known as the world’s largest floating bookfair, is now en route to Bermuda, and is scheduled to arrive tomorrow morning, 11 February.

Once in port, the visit will mark more than a decade since the ship was last here.

The vessel operates under the non-profit organisation GBA Ships, which aims to promote literacy, education, cross-cultural cooperation, and social awareness.

Once in Bermuda, residents will be able to purchase tickets to go on board and visit the ship’s in-house book fair, offering more than 5,000 titles for sale.

For the latest updates on book fair opening dates and hours, Logos Hope advises the public to follow its Facebook and Instagram pages at Logos Hope Hamilton.

Tucker and Basden test form at Gainesville Indoor Classic

Bermudian athletes Denver Tucker and Cameron Basden took to the track and field this weekend, seeking early-season momentum at the high-stakes Gainesville Indoor Classic in Florida.

Competing at the Alachua County Events Center, the duo faced a deep field of collegiate talent as they fine-tuned their performances for the indoor circuit.

Denver Tucker, representing St. Thomas University (Fla.), showed flashes of the speed that saw him set a personal best of 6.91 seconds earlier this year in Miami.

Competing in the Men’s 60 Meters Preliminaries, Tucker stopped the clock at 6.97 seconds. While the time saw him narrowly miss out on the final, his 11th-place finish further establishes him as one of the region’s most consistent rising sprint talents.

Meanwhile, Barry University’s Cameron Basden proved his versatility with a demanding double-header.

On the Track: Navigating the challenging 200m banked circuit, Basden displayed significant grit in the Men’s 200 Meters, crossing the line in 22.60 seconds to finish 24th.

In the Sandpit: Basden then shifted his focus to the Men’s Long Jump, where he recorded a best leap of 6.45m (21 feet 2 inches) to claim 12th place overall.

Europe risks losing nascent green hydrogen industry to China, executives warn

The industry endured a bruising 2025, with many projects cancelled or delayed amid high European energy costs and cheaper fossil fuel-based hydrogen

International News via Reuters:

Europe’s fledgling green hydrogen industry is urging the EU to introduce “made in Europe” requirements for public spending on the sector, warning that without support to scale up quickly, domestic producers risk being overtaken by Chinese rivals.

The industry endured a bruising 2025, with many projects cancelled or delayed amid high European energy costs and cheaper fossil fuel-based hydrogen. 

Brussels is counting on green hydrogen to help chemicals, steel and fertiliser producers cut emissions. Today, more than 90% of the hydrogen used in European industry still comes from fossil fuels.

Kim Hedegaard, CEO of Power-to-X at Danish engineering company Topsoe, told Reuters that manufacturers backed EU plans for “made in Europe” rules for publicly funded electrolyser purchases – pointing to solar panels as a cautionary tale if the industry fails to scale fast.

Europe lost most of its solar panel production in the 2000s as Chinese manufacturing costs plunged, leaving the region heavily dependent on imports.

PRIORITISING EUROPEAN MANUFACTURERS

“You can use that as an example of what will happen to the European electrolyser industry if we don’t do something different,” Hedegaard said.

The European Commission plans this month to propose a law to prioritise European manufacturers in public procurement, aiming to tap the 2.5 trillion euros that EU public authorities spend each year on goods and services.

A draft of the proposals, previously reported by Reuters, included electrolysers. But the plans face pushback from some governments and firms, and officials are still haggling over which technologies to cover – and whether “made in Europe” should include non-EU countries such as Turkey.

Hakon Volldal, CEO of Norwegian electrolyser manufacturer Nel Hydrogen, said European firms were missing out on large-scale projects like those progressing in China, which public contracts could help secure.

“We have technology leadership, but unless we’re able to deploy that technology and also learn with that technology, the Chinese will catch up, and they will race past us,” he said.

“China is getting an edge … because of the scale of their projects,” said Nicolas de Coignac, CEO of the hydrogen arm of Belgian engineering group John Cockerill.

European Investment Bank President Nadia Calvino this month singled out electrolysers and wind energy as “low-dependency sectors” where Europe can still stay ahead.

“But it will require continued investment in EU value chains,” she wrote in a letter seen by Reuters ahead of Thursday’s meeting of EU leaders on industrial competitiveness.

China already hosts 60% of global electrolyser manufacturing capacity. European firms still dominate their home market, supplying more than 80% of sales to European projects since 2022, according to the Oxford Institute for Energy Studies.

But there are signs that Chinese companies are making gains. Brussels tightened access for Chinese-supplied projects to the EU’s main hydrogen support fund in 2024, after finding many past beneficiaries planned to use cheaper foreign equipment.

Reporting by Kate Abnett. Editing by Mark Potter

Microsoft exploring using advanced power lines to make data centers more energy-efficient

Big Tech’s effort to swiftly build and electrify giant data centers across the U.S. to expand technologies like artificial intelligence has been slowed by the country’s aging power system and constrained electricity supplies

International News via Reuters:

Microsoft is exploring using superconducting power lines in its data centers, which could potentially accelerate its massive U.S. build-out of the server warehouses by making them more energy-efficient, the company said on Tuesday.

Big Tech’s effort to swiftly build and electrify giant data centers across the U.S. to expand technologies like artificial intelligence has been slowed by the country’s aging power system and constrained electricity supplies.

Microsoft said recent tests of high‑temperature superconductor cables have shown that the power lines can deliver the same amount of electricity as traditional cables while taking up less space. 

“The technology helps us scale power density without expanding our physical footprint,” Husam Alissa, who leads the Systems Technology Team at Microsoft’s CO+I CTO Office. “It can also help us reduce the size of power transmission infrastructure and lower community impact.”

High-temperature superconductor cables use a ceramic-like material that transports electricity more efficiently than conventional copper and aluminum conductors, which are used widely in power infrastructure.

Deploying the cables, which are not currently used in data centers, could shorten the time it takes to power the large server warehouses.

Microsoft said the technology could allow it to increase electrical density inside facilities without expanding infrastructure like substations. The company, however, did not disclose its investment in superconducting technology or when it would be able to deploy them in its data centers. 

U.S. government research shows the electricity use of data centers may consume about 12 percent of U.S. power supplies by 2028, a tripling from four years earlier, which would require more infrastructure to generate and transport the electricity.

Single data center campuses being built today will require more than one gigawatt of electricity at a single location, enough to power about 750,000 homes.

The cable technology has been under development for  decades, but stymied by high costs and manufacturing constraints.

Microsoft is investing in superconducting companies, including Massachusetts-based cable manufacturer and cooling system vendor, VEIR, which closed a $75 Series B funding round this last year. VEIR, which recently completed a test of its three megawatt cable to power a server rack in a  simulated data center, said the advanced cables can be more than 10 times smaller and lighter than traditional cables, allowing for a smaller data center footprint. 

Reporting by Laila Kearney in New York; Editing by Chizu Nomiyama

Next generation set for Port Royal challenge

Bermuda’s relationship with the PGA TOUR reaches a new milestone this week as the island prepares to host the fourth annual Butterfield Bermuda Junior Championship.

The three-day tournament, running from February 12th to 15th, will see 77 of the world’s elite young golfers descend on the iconic Port Royal Golf Course. With Butterfield joining as a presenting sponsor, the event continues its mission to provide a global platform for aspiring collegiate and professional talent.

While the field is packed with international stars from the American Junior Golf Association (AJGA), all eyes will be on the four Bermudian juniors carrying the home hopes:

  • Oliver Betschart
  • Darina Betschart
  • John Bart
  • Arman Newton

For Oliver Betschart, the tournament represents another opportunity to compete on a course where he made history in 2023 as one of the youngest players to ever compete in a full PGA TOUR event.

Founded in 1978, the AJGA has become the premier pipeline for future stars, hosting over 130 events annually. For the 7,000 juniors involved globally, tournaments like the Bermuda Junior Championship are vital for securing college scholarships and gaining experience in professional-grade conditions.

“The golfers and families love Bermuda,” says Patrick Cansfield, AJGA Director of Business Development. “This event continues to provide many opportunities for junior golfers around the world that are trying to earn college golf scholarships.”