It’s a routine most Bermudians have become wearily familiar with … heavy winds followed by power cuts. But is it something we simply must accept as the norm?
Or could changes be made to infrastructure to ensure that heavy storms do not always equate to widespread outages?
When Kendal Trott asked the public about it today, a consensus emerged … ‘bury the power lines underground’.
The FCA believes most UK market share liquidity data is under-reported because it is only based on the London Stock Exchange’s central limit order book and excludes many trades
International News via Reuters:
Britain’s financial regulator wants to publish all trading data for London-listed shares in a bid to tackle the under-reporting of market liquidity that has driven some companies to shift their listing to the United States, the watchdog said on Monday.
The Financial Conduct Authority’s interim director of markets, Simon Walls, told the Financial Times in a story published earlier on Monday that the regulator planned to collect and publish all share-trading data from every venue, including exchanges and dark pools.
Dark pools are private exchanges for trading securities often popular with institutional investors who want to execute large transactions without unduly affecting prices.
A spokesperson for the FCA confirmed the plans to Reuters.
“The truth is we have way more liquidity here than is often reported and that is just silly,” Walls told the FT. “We are talking to loads of parties at the moment about whether the FCA can, at a little bit of risk to ourselves, step in and just sort this out.”
The FCA’s plans are a stopgap, the FT reported, before the regulator launches its “consolidated tape” for equities, likely next year. This tape will combine real-time data from different equity trading platforms into a single feed.
The proposals are part of a wider effort by the FCA to boost the appeal of the London Stock Exchange, which is battling a downturn in the number of new stock market listings and the shift of some existing companies to other exchanges, typically in the United States, where executives think they can get a better valuation.
In January, Britain’s revamped framework for raising capital came into force, aiming to make it easier and cheaper for listed and private companies to attract funding.
The FCA believes most UK market share liquidity data is under-reported because it is only based on the London Stock Exchange’s central limit order book and excludes many trades, including periodic orders at the LSE, the FT reported.
Reporting by Rishabh Jaiswal in Bengaluru and Phoebe Seers in London; Editing by Ronojoy Mazumdar and Anil D’Silva
U.N. Secretary-General Antonio Guterres sounded the alarm on U.N. finances and warned that the 193-country organization is at risk of “imminent financial collapse” due to unpaid fees
International News via Reuters:
The United Nations said on Monday it is waiting for details on when and how much the United States will pay toward its delayed budget dues, following a promise last week that Washington would make an initial payment within weeks.
“We’ve seen the statements, and frankly, the secretary-general has been in touch for quite some time on this issue with Ambassador (Mike) Waltz,” U.N. spokesperson Stephane Dujarric said in a briefing.
“Our (budget) controller has been in touch with the U.S.; indications were given. We’re waiting to see exactly when payments will be made and in what amounts,” he added.
U.N. Secretary-General Antonio Guterres sounded the alarm on U.N. finances in a January 28 letter to member states and warned that the 193-country organization is at risk of “imminent financial collapse” due to unpaid fees.
The majority of the fees are owed by Washington, which under President Donald Trump has been retreating from multilateralism on numerous fronts and demanded that the U.N. reform and cut costs.
“You’ll certainly see an initial tranche of money very shortly,” Waltz, the U.S. ambassador to the United Nations, told Reuters on Friday. “It’ll be a significant … down payment on our annual dues … I don’t believe that the ultimate figure is decided, but it’ll be in a matter of weeks.”
U.N. officials say the U.S. is responsible for more than 95% of outstanding dues toward the regular U.N. budget. The nation owes $2.19 billion by the start of February, plus another $2.4 billion for current and past peacekeeping missions and $43.6 million for U.N. tribunals.
U.N. officials say the U.S. did not pay into the regular budget last year and owes $827 million for that, as well as $767 million for 2026, with the remainder of its debt made up of arrears from previous years.
Asked if the money would go toward last year’s dues or those for 2026, or both, Waltz said: “Just in general, towards the arrears, and also in recognition of some of the reforms that we’ve seen.”
As of last Friday, 55 countries had paid their contributions to the regular U.N. budget for this year before a February 8 due date, U.N. data showed.
Reporting by David Brunnstrom; Editing by Ethan Smith
Civil defence director general Imad Khreiss said rescue teams rescued eight people from the rubble of the collapsed buildings in the northern city’s Bab al-Tabbaneh neighbourhood
International News via Reuters:
The death toll from the collapse of residential buildings in the Lebanese city of Tripoli rose to 15 after search and rescue operations ended, Lebanon’s National News Agency said on Monday, citing the civil defence chief.
Civil defence director general Imad Khreiss said rescue teams rescued eight people from the rubble of the collapsed buildings in the northern city’s Bab al-Tabbaneh neighbourhood.
Officials said on Sunday that two adjoining buildings had collapsed.
Abdel Hamid Karimeh, head of Tripoli’s municipal council, said he could not confirm how many people remained missing. Earlier, the head of Lebanon’s civil defence rescue service said the two buildings were home to 22 residents.
A number of aging residential buildings have collapsed in Tripoli, Lebanon’s second-largest city, in recent weeks, highlighting deteriorating infrastructure and years of neglect, state media reported, citing municipal officials.
The Lebanese cabinet said following a meeting that the city’s municipal council is set to issue a decision to evacuate 114 buildings at risk of collapse within a period not exceeding one month.
Temporary housing assistance would be made available for families being evacuated for one year, Lebanese Prime Minister Nawaf Salam said on X.
Karimeh said the issue of unsafe buildings in Tripoli was longstanding and driven by multiple factors, including construction violations, years of disorder, weak oversight and a lack of regular maintenance, partly linked to restrictive rent control laws that discourage owners from investing in repairs.
He said many buildings in the city were between 60 and 70 years old and had exceeded their structural lifespan without undergoing essential maintenance, increasing the risk of collapse. The problem, he added, exceeded the capacity of the municipality and residents alone, calling for direct state intervention.
Authorities have begun providing temporary shelter to displaced families, while Lebanon’s Higher Relief Committee is offering housing allowances for up to three months, Karimeh said.
He added that charities, the Ministry of Social Affairs and international organisations were coordinating to provide assistance, saying the aim was to secure a minimum acceptable level of support for affected households.
Reporting by Jana Choukeir and Jaidaa Taha; Editing by Kirsten Donovan and David Holmes
The move is in keeping with U.S. President Donald Trump’s demands that European nations take more responsibility for their own security
International News via Reuters:
The United States will turn over two of NATO’s major command posts – in Naples, Italy and Norfolk, Virginia – to European officers, a military source told Reuters on Monday.
The move is in keeping with U.S. President Donald Trump’s demands that European nations take more responsibility for their own security. His administration has called for the military alliance, long dominated by the United States, to become a “European-led NATO”.
As part of the command reshuffle, European officers would take over NATO’s Allied Joint Force Command in Naples and Joint Force Command Norfolk, both currently led by U.S. admirals, said the source, speaking on condition of anonymity.
However, the U.S. would take the reins of three commands slightly lower in the hierarchy but which bear significant responsibility for operations – Allied Air Command, Allied Maritime Command and Allied Land Command, the military source and another person familiar with the matter said.
Asked about the planned changes, a NATO official said: “Allies have agreed on a new distribution of senior officer responsibility across the NATO Command Structure in which European Allies, including NATO’s newest members, will play a more prominent role in the Alliance’s military leadership.”
The official said the decision related to “planning for future rotations” and more details would be provided in due course.
The command changes were earlier reported by French outlet La Lettre and by Politico.
Reporting by Sabine Siebold; Additional reporting by Jonathan Landay, Humeyra Pamuk and Andrew Gray; Writing by Andrew Gray; Editing by Benoit Van Overstraeten and Deepa Babington
Floating book fair may be delayed en route to Bermuda
MV Logos Hope, known as the world’s largest floating bookfair, is making its way to Bermuda, however, its arrival may be delayed.
At 9 am this morning, the Bermuda Rescue Coordination Center requested that Logos Hope deviate from her planned course to assist a lone sailor aboard a drifting sailboat experiencing rough weather conditions.
Captain Matt Stephens of Logos Hope said the ship is expected to reach the sailor’s location by noon tomorrow to provide assistance.
It is not yet clear how this operation will affect the ship’s scheduled arrival in Hamilton.
Logos Hope, which is returning to the island more than a decade after its last visit, was originally due to dock along Front Street on Wednesday.
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.
The organisation says further updates will be provided as more information becomes available.
Throughout 2025, The Salvation Army walked alongside individuals and families across the island – providing meals for those facing hardship, offering assistance during times of crisis, and delivering care when it was needed most.
Now, the organization is inviting the public to see that impact firsthand through a newly released yearin-review highlighting the power of community compassion in action.
“Every act of kindness touched someone’s life in Bermuda,” said Captain Dennis Maybury, Public Relations Officer of The Salvation Army Bermuda. “It reflects what is possible when a community comes together to support one another.”
As needs continue across the island, The Salvation Army remains committed to serving with dignity, hope, and practical care – made possible through the ongoing generosity of the Bermuda community.
The utility restored over 6,000 customers throughout the weekend with around 291 still remaining off supply
Bermuda Electric Light Company (BELCO) Managing Director Shelly Leman today provided an update on outages as a result of a winter gale impacting the island.
BELCO crews worked all weekend to restore outages as a result of the severe weather and stood down at midnight last night.
As of 4:00pm, there are approximately 291 customers who remain without power.
Ms. Leman said: “Restoration efforts progressed steadily yesterday into the night through often hazardous conditions. The teams were able to restore over 6000 customers throughout the weekend with around 291 still remaining off supply. Our crews tended to several reports of sparking lines as well as several pole fires which caused resources to be diverted to these emergencies. Pole fires often occur when salt deposits on our overhead infrastructure, such as insulators and cross arms, allowing tracking to occur which can result in arcing or flashovers.”
BELCO crews began work early this morning to restore the remaining customers. Ms. Leman said: “We have a systematic plan in place today with efforts focused on restoring the remaining customers without power, with the largest pockets in St. George’s, Hamilton parish, Pembroke and Sandys. The 955 line remains open for reporting emergencies such as pole fires downed or sparking lines or partial current.”
BELCO will be providing regular updates throughout the weekend on the Company’s social media channels including Facebook (@BELCOBermuda), Instagram (@belcobermuda), and X (@BELCOBermuda).
Ms. Leman said: “I’d like to thank our teams once again for braving the elements to restore service to the island and to our customers for their continued patience.”
Under pressure over the appointment of a man whose close ties to the late U.S. sex offender Jeffrey Epstein have come into full focus, Starmer has attempted to change the narrative
International News via Reuters:
British Prime Minister Keir Starmer refused on Monday to heed calls to quit, even by the leader of his party in Scotland, after a second aide resigned from a team in crisis over the appointment of Peter Mandelson as ambassador to Washington.
Under pressure over the appointment of a man whose close ties to the late U.S. sex offender Jeffrey Epstein have come into full focus, Starmer has attempted to change the narrative.
But a demand from Anas Sarwar, leader of the Scottish Labour Party, for him to quit and the departure of a second senior aide in as many days did little to stop the questions over his judgment and ability to govern.
The resignation of communications chief Tim Allan followed the exit of Starmer’s closest aide, Morgan McSweeney, who said he took responsibility for advising on the appointment of Mandelson to Britain’s top diplomatic role in the United States.
Earlier on Monday, the British leader sought to raise spirits and encourage unity when he addressed staff at his Downing Street office, and he later received messages of support from his top ministers and some potential leadership rivals.
“We must prove that politics can be a force for good,” he told them, praising McSweeney as “a friend” who helped change the Labour Party and win the 2024 national election with one of the largest parliamentary majorities in modern British history.
“I believe it can. I believe it is. We go forward from here. We go with confidence as we continue changing the country.”
But Sarwar, speaking in Scotland where Labour has seen its support slump since the 2024 election, said it was with a heavy heart that he had to defend Scotland and call for a change of leader in the UK capital London.
“The distraction needs to end and the leadership in Downing Street has to change,” he told a press conference.
In response, a Downing Street spokesperson said Starmer had “a clear five-year mandate from the British people to deliver change, and that is what he will do”.
STARMER STRUGGLES TO CHANGE THE NARRATIVE
With his statement, Sarwar became the most senior Labour figure to call for Starmer’s resignation, and did little to quell a febrile mood in parliament in London’s Westminster.
Government borrowing costs rose, reflecting investors’ concerns that a more left-wing Labour leader, who was willing to borrow and spend more, could take over. The climb in yields, along with the value of the pound against the euro, later eased after the potential successors came out in Starmer’s support.
With Starmer losing his fourth director of communications, his record in government is under scrutiny, including the gaffes and policy U-turns that have tainted his almost two years in power.
“It’s painful,” said one Labour lawmaker on condition of anonymity. “It’s like watching a fatal car crash in slow motion.”
But Starmer received a show of support from his deputy, David Lammy, finance minister Rachel Reeves and foreign minister Yvette Cooper, among others. Angela Rayner, his former deputy who is seen as a leading leadership candidate, offered him her “full support”.
“I urge all my colleagues to come together, remember our values and put them into practice as a team. The Prime Minister has my full support in leading us to that end,” she said on X.
With McSweeney’s departure on Sunday, Starmer had hoped to reset the narrative and attempt to return to an agenda he has so far failed to keep any focus on – tackling the cost-of-living crisis and boosting the British economy.
The leader of the opposition Conservative Party, Kemi Badenoch, accused Starmer of being unable to run his government.
“He’s like a plastic bag blowing in the wind. We need him to get a grip and if he can’t do it then someone else in the Labour Party needs to do that, or they should have an election,” she told Sky News.
PRIME MINISTER TO MEET LAWMAKERS
The new scandal over Mandelson, who was sacked as ambassador to the United States in September, came after files released by the U.S. Justice Department last month included emails suggesting Mandelson had leaked discussions on possible UK asset sales and tax changes to Epstein during the financial crash.
Mandelson has not commented publicly on allegations he leaked documents, and did not respond to messages seeking comment.
Starmer will meet Labour lawmakers later on Monday and try to ease anger over the handling of the appointment and quieten those voices saying he should quit.
Mandelson is now under police investigation for alleged misconduct in office.
Starmer has defended his own actions, accusing Mandelson of creating a “litany of deceit” about his Epstein ties and promising to release documents on how he was appointed.
Reporting by Elizabeth Piper, Alistair Smout, Sam Tabahriti and Catarina Demony; Additional reporting by Andrew MacAskill and William Schomberg; editing by William James and Ros Russell
The Iberian Peninsula has already experienced a succession of storms in recent weeks, bringing heavy rain, thunder, snow and strong gales before the arrival of Storm Marta on Saturday
International News via Reuters:
Farmers in Spain warned on Saturday that torrential rains and high winds had left fields submerged and caused millions of euros worth of damage to crops, as Spain and Portugal braced for more extreme weather.
The Iberian Peninsula has already experienced a succession of storms in recent weeks, bringing heavy rain, thunder, snow and strong gales before the arrival of Storm Marta on Saturday.
A snowplow driver died on Saturday when his vehicle plunged 20 meters (65 ft) down a slope in the El Pico mountain pass, in Avila in northern Spain, where it had been snowing heavily, emergency services said.
Earlier the same day, a 46-year-old man drowned in a river at Campo Maior, in the central Portalegre area of Portugal, emergency services said on Saturday. Five people have been killed since Storm Leonardo’s arrival last week.
More than 11,000 people have been forced to leave their homes in Spain’s southern Andalusia region, while nearly 170 roads have been closed across Spain and rail services have been disrupted in Portugal.
Portugal’s agriculture ministry said on Friday that preliminary estimates put losses in the agricultural and forestry sectors at around 750 million euros ($890 million) because of the storms, which are expected to intensify in the coming days.
Spanish state weather agency AEMET warned on Saturday that Storm Marta would bring snow and hazardous coastal conditions, as well as more rain. Authorities issued an orange weather warning, the second highest after red.
The top-flight soccer match between Sevilla and Girona was postponed because of the bad weather, La Liga said, after a request by the Andalusian club.
Miguel Angel Perez, of the farmers organisation COAG in Andalusia’s Cadiz province, told Spanish television TVE on Saturday: “It is raining without stopping. Crops like broccoli, carrots and cauliflowers are under water. Thousands of hectares inundated. We have a real natural catastrophe.”
Perez said the storm had caused millions of euros of damage to this year’s crop and farmers would seek government help to recover.
GROUND TREMBLING, RIVER RISING
Waterlogging has also raised fears of structural shifts including landslides.
Residents of several towns in the Serranía de Ronda mountain range in Málaga, which had been battered by Storm Leonardo this week, said on Saturday the ground had trembled for days.
The council of one town in the area, Cortes de la Frontera, said in a post on social media on Saturday that there was “no danger” from the tremors which have also been felt in nearby towns of Benaoján, Gaucín and Jimera de Líbar.
Specialists from the Spanish National Research Council (CSIC) were deployed in the area to monitor the situation.
Several residential areas near the Guadalquivir River in Andalusia’s Cordoba province were evacuated on Friday due to the dramatic rise in water levels.
Spain’s Deputy Prime Minister María Jesús Montero warned that the river was expected to reach its peak level on Saturday or Sunday.
In Portugal, where the heavy rains have prompted three towns to postpone Sunday’s presidential vote till next week, more than 26,500 rescue workers have been deployed to cope with the impact of the storms.
($1 = 0.8463 euros)
Reporting by Graham Keeley, Sergio Gonclaves; Editing by Aidan Lewis, Toby Chopra and Diane Craft
The ECB unanimously kept its main interest rate unchanged at 2% last week, but some policymakers remain concerned that price growth might weaken too much, forcing the euro zone’s central bank to react
International News via Reuters:
The European Central Bank’s policy rate is at the right level as inflation is likely to settle at its 2% goal after a short-lived dip, ECB policymaker Joachim Nagel said on Monday.
The ECB unanimously kept its main interest rate unchanged at 2% last week, but some policymakers remain concerned that price growth, which eased to 1.7% last month, might weaken too much, forcing the euro zone’s central bank to react.
Bundesbank President Nagel said the ECB would only act if its medium-term inflation expectations deviated “sustainably and noticeably” from target, but this did not appear to be the case.
“Many factors suggest that the current interest rate level is appropriate,” he said. “First, the (inflation) shortfall is short-term and small and, in the medium term, inflation is at our target.”
He added that long-term inflation expectations were “firmly anchored”, and measures of core prices, which strip out volatile items such as energy and food, also supported this view, as did an update of the ECB’s December projections.
Data published last week showed much of January’s drop in inflation was due to lower energy costs although services also saw a moderation in price increases.
“Small, temporary deviations – especially in volatile components such as energy prices – do not … require a change of course if inflation expectations are firmly established,” Nagel said.
He said this applied both when “the inflation target might be undershot” and when inflation risked running too high.
Reporting by Francesco Canepa. Editing by Mark Potter
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