Europe’s anti-money laundering body set to be fully operational in 2028
The Anti-Money Laundering Authority (AMLA) is being established in Frankfurt, creating the first Europe-wide body to fight illegal financial flows
International News via Reuters:
The European Union’s new agency formed to fight dirty money said on Wednesday it was on track to be fully operational in 2028, as it set out its plan to tackle emerging illicit finance risks including crypto and “novel payment channels”.
The Anti-Money Laundering Authority (AMLA) is being established in Frankfurt, creating the first Europe-wide body to fight illegal financial flows.
From 2028, AMLA will directly supervise 40 EU financial institutions judged to present the biggest risk.
AMLA will finalise its methodology for its risk assessment in 2026 and start the selection process in 2027, it said in a 2026-2028 plan on Wednesday. It has already met its initial 2025 target of hiring 120 of the 432 staff it aims to employ, AMLA said.
The idea of the EU-wide agency was proposed in 2021, after a major money-laundering scandal highlighted the inadequacy of the bloc’s defences against illicit finance.
“AMLA marks a new chapter in Europe’s fight against money laundering and terrorism financing, transitioning from fragmented national responses to a unified, risk-based system tailored to the complexity of today’s criminal networks,” AMLA’s chair, Bruna Szego, wrote in a report setting out the plan.
“The challenges ahead — from crypto-asset supervision to cross-border criminal innovation — require an Authority that is both technically excellent and anchored in sound governance.”
EMERGING FINANCIAL CRIME RISKS
The plan cited developments in the crypto-asset market or novel payment channels as examples of emerging financial crime risks.
Money launderers received at least $82 billion worth of cryptocurrencies last year, up from $10 billion five years earlier, researchers estimate. Still, the “vast majority” of terrorist financing uses regular money, the Financial Action Task Force has said.
Speaking on the sidelines of a conference in Brussels on Tuesday, AMLA board member Derville Rowland told Reuters that the agency would follow the evidence to locate the biggest money-laundering risks, and had yet to decide how much of a focus crypto would be.
“Certainly when we look at money-laundering risk it’s present in some sectors more than others. For definite, crypto is an area where technology and secrecy can coincide to produce a high money-laundering risk,” she said.
Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes and Emelia Sithole-Matarise
Economy and Labour Minister boosts Bermuda’s profile in Dubai
Minister of Economy and Labour Jason Hayward (centre) joins H.E. Sakari Puisto, Minister of Economic Affairs of the Republic of Finland (right), and H.E. Bilal Kayani, Minister of State for Finance and Railways of the Islamic Republic of Pakistan (left), to share perspectives on strengthening economic stability at WGS. Photo: Government of Bermuda
Full press release from the Ministry of Economy and Labour:
The Ministry of Economy and Labour is pleased to announce that the Minister of Economy and Labour, the Hon. Jason Hayward, JP, MP, is representing Bermuda at the World Governments Summit (WGS) 2026, held in Dubai, United Arab Emirates, from February 3–5, 2026.
The World Governments Summit is an annual global landmark event held in Dubai under the theme “Shaping Future Governments”. It serves as a premier knowledge-exchange platform for government officials, thought leaders, and private sector experts. The 2026 Summit focuses on five main themes: Global Governance and Effective Leadership, Societal Wellbeing and Capacity Building, Economic Prosperity and Emerging Opportunities, Urban Futures and Evolving Demographics, and Future Realities.
As part of his high-level ministerial engagements, Minister Hayward participated in two panels during the Summit, including the Government Experience Exchange Forum centered on the theme “Future of Trade and Economy.”
During the forum, he participated in a keynote session titled “Investing Smart for Resilient Economies,” which offered a strong platform for exploring smart investment, innovation, and long‑term economic resilience. Minister Hayward joined a panel of international peers, including H.E. Sakari Puisto, Minister of Economic Affairs of the Republic of Finland, and H.E. Bilal Kayani, Minister of State for Finance and Railways of the Islamic Republic of Pakistan, to share perspectives on strengthening economic stability. The discussion was moderated by Dr. Rawa Harfoushi, Economic Advisor to the President of the Lebanese Republic.
Additionally, Minister Hayward participated in the Future of Economy Forum centered on the theme “Future of Trade and Economy”, joining a session entitled “Recalibrating Economic Priorities for 2026”. The discussion focused on how governments are strategically recalibrating their economic priorities for 2026 and beyond and explored the new priorities that economic policymakers and ministers in selected advanced emerging economies are considering, and how new partnerships across regional blocs can support new economic directions. During this session, Minister Hayward joined a panel alongside H.E. Anacláudia Marinheiro Centeno Rossbach, UN Under‑Secretary‑General and Executive Director of UN‑Habitat, and H.E. Amer Bisat, Minister of Economy and Trade of the Lebanese Republic. The discussion was moderated by Jean Fares, Senior Advisor to the Minister of Economy of Canada.
Minister Hayward’s participation highlights Bermuda’s active engagement in the global dialogue on sustainable economic development and the future of work. With over 6,000 participants and 150 government delegations expected, the event provides a critical opportunity for Bermuda to showcase its economic resilience and innovative regulatory environment on a world stage.
Minister Jason Hayward stated, “It is a privilege to participate in the World Governments Summit 2026, a vital platform for navigating the complexities of the modern global economy. Contributing to both the Government, I was honored to take part in the Experience Exchange and the Future of Economy Forums. Engaging with my international peers in these sessions offered invaluable insights into how we can collectively drive smart investment and foster a culture of sustainable innovation.
“I value the opportunity to engage with fellow leaders and experts on shaping resilient economies for the future. Our goal remains to build strategic partnerships that will strengthen Bermuda’s economic growth and ensure we remain at the forefront of global governance.”
Fairmont Southampton seeks guest experience partners
The soon-to-reopen hotel has launched an online hub so local vendors can apply to provide certain front-facing services
Can you provide luxury hotel transport… or destination experiences… or produce audiovisuals for events… or create a platform for guests to book all these things…?
…if so, the Fairmont Southampton Hotel may want to partner with you.
Ahead of the resort’s planned reopening this summer, an online Vendor RFP Hub has been launched as a gateway for service providers interested in collaborating with Fairmont Southampton across a number of guest-facing and operational areas.
Five Requests for Proposals are aleady online for arrivals and mobility, events, experiences, and in-room technology.
Further RFPs are set to be published, including babysitting services, floral design, cleaning and watersports.
Kiaran MacDonald, Fairmont’s Regional Vice President, says quote “This new RFP Hub allows us to engage with vendors in a more transparent, efficient, and strategic way – ensuring that every service supporting our guests meets the same world-class standards as the resort itself.” end quote.
The hub is online now at fairmontsouthamptonbermuda.com/vendors. The first RFPs are due by the end of February.
Fairmont Southampton Press Release:
‘You have to be involved in your child’s rescue’
Intriguing theme for motivational speaker who will be at CedarBridge tomorrow
The Mirrors Programme is pleased to welcome Coach Alfred Powell back to Bermuda as he continues his long-standing commitment to supporting families, youth, and community development. Due to unforeseen travel delays, Coach Powell will now arrive on island tomorrow. As a result, this evening’s parent session will not take place at CedarBridge Academy as previously planned and will instead be held virtually via Zoom.
Zoom Link: https://us02web.zoom.us/j/87611092792
Coach Powell, who has been visiting Bermuda for the past 27 years, is an author, internationally renowned motivational speaker, and the Director of People of Colour at Stony Brook University in Long Island, New York. While on the island, he will be speaking and presenting to various sectors of the community.
Minister of Youth, Social Development and Seniors, the Hon. Tinee Furbert, JP, MP, welcomed Coach Powell’s return, stating, “Coach Alfred Powell has consistently demonstrated a deep commitment to empowering families and strengthening our community. His work challenges us to think differently, engage more intentionally with our young people, and build stronger foundations for success. The Mirrors Programme is proud to once again host his impactful sessions.”
This evening’s virtual session, Assumptions vs Reality: Discovering the Child You Haven’t Met, will run from 6:00 pm to 8:00 pm and remains free and open to all parents and guardians. Speaking on the importance of parental involvement, Coach Powell shares, “You have to be involved in your child’s rescue. This workshop is not an apology, but a warning. To find out what I mean, you’ll have to attend the workshop.”
With his arrival expected tomorrow, all other scheduled engagements—including visits with the Department of Corrections, senior schools, and a special session with the current cohort of Emerging Leaders and Life Coaches—will proceed as planned.
Parents and guardians are encouraged to register for the parent session at https://form.jotform.com/mirrorsbda/parent-connect-meeting. For more information, contact The Mirrors Programme at mirrors@gov.bm or call 294-9291.
A dozen schools join ‘Race to Recycle’ competition
Hamilton, Bermuda – February 3, 2026 – Keep Bermuda Beautiful (KBB) is thrilled to announce that 12 schools across the island have signed up for the 2026 edition of Race to Recycle, a high-energy, island-wide recycling competition taking place from February 23 to March 20.
Race to Recycle isn’t just about collecting recyclables-it’s about inspiring a shift in mindset. This dynamic competition turns students into sustainability champions as they lead the charge to reduce waste and build better habits in their schools, homes, and communities.
“We’re so proud of the schools that have stepped forward,” says Alandra Swan, KBB’s Education and Community Engagement Coordinator. “Race to Recycle is a celebration of student leadership, community involvement, and the everyday actions that help protect Bermuda’s natural beauty.”
Beyond the Bins: Real Impact
Throughout the competition, schools will sort and track their recyclables by weight, building awareness around waste streams and responsible disposal. But the real win is how these student-led efforts ripple outward – sparking conversations at dinner tables, changing family routines, and encouraging Bermudians of all ages to take part.
The competition also supports important data collection, helping KBB better understand recycling habits and opportunities for greater island-wide impact.
Celebrate and Support Our Students
KBB invites the community to follow along, cheer on participating schools, and take inspiration from the young people leading the way. This is a time to celebrate student action and reaffirm our shared commitment to a cleaner, greener Bermuda.
Follow the journey on social media and online at:
Website: www.kbb.bm
Email: education@kbb.bm
About Keep Bermuda Beautiful (KBB):
KBB is a nonprofit organization dedicated to preserving and enhancing Bermuda’s environment through action, education, and awareness. Learn more at www.kbb.bm
New ‘Vendor Academy’ to assist entrepreneurs
Hamilton, Bermuda (04 February 2026) – The Bermuda Economic Development Corporation (BEDC) has announced that applications are now open for the Vendor Academy, a structured training program designed to support vendors in strengthening their market presence, improving sales performance, and building sustainable brands.
The Vendor Academy will run from March 17 to April 28, 2026, with sessions held every Tuesday from 6:00 p.m. to 8:00 p.m. at the BEDC’s North East Hamilton office, located in the Donald French Building at 19 Elliott Street. The program is open to both new and existing vendors and costs $250 per participant.
The six-week academy focuses on practical skills that help vendors move beyond basic market participation toward more consistent and professional business operations. Participants will receive guidance on improving table presentation, setting appropriate pricing, developing a cohesive brand identity, and using feedback and results to refine their approach from one event to the next.
“The Vendor Academy is designed to help vendors think more intentionally about how they show up at markets and pop-up events,” said Ondreyah Rochester, MSME Officer at the BEDC. “We want participants to leave with practical tools they can apply immediately, whether that is improving their display, refining their pricing, or creating a more consistent brand experience for customers.”
In addition to training sessions, registration in the Vendor Academy includes a six-month vending license, one branded item to support table presentation, and free registration to the Setting the Stage vendor market at the end of the program.
The Vendor Academy aligns with the BEDC’s ongoing commitment to supporting micro, small, and medium sized enterprises through targeted education, guidance, and access to resources that promote business sustainability and growth.
Applications for the Vendor Academy are open now and close on February 23, 2026. All confirmed participants will be notified by March 6, 2026. For more information and to apply, visit https://bedc.bm/events/vendor-academy/.
European stocks close at record high even as tech, healthcare drag
The pan-European STOXX 600 finished up 0.03% at 618.12 points, building on the previous session’s record close as European markets recovered from earlier losses
International News via Reuters:
European shares closed at a record high on Wednesday, though the gains were modest as a telecom sector rally and strength in consumer stocks offset weakness in software companies and a selloff triggered by healthcare company Novo Nordisk’s disappointing outlook.
The pan-European STOXX 600 finished up 0.03% at 618.12 points, building on the previous session’s record close as European markets recovered from earlier losses.
The telecom sub-index climbed 3.6% to an eight-year high.
The chemical sub-index gained 4.8% and was on track for its biggest daily surge since March 2022.
Shares of GSK gained 6.9%, hitting a 25-year high after new CEO Luke Miels said the British drugmaker will aim to lift sales growth and speed up work on new medicines in its next phase of growth.
“The first set of results under new GSK boss Luke Miels can hardly be said to have made much of a splash, but that may be no bad thing as far as he’s concerned … the numbers are solid enough even if earnings were a touch off expectations,” said Dan Coatsworth, head of markets at AJ Bell.
The healthcare sub-index was lower, though, down 0.3% as Novo Nordisk shares weighed.
The Danish drugmaker tumbled 17.2%, wiping off around $50 billion from the Wegovy maker’s market capitalization after it warned its sales and profits would fall in 2026.
Denmark’s stock index slid 6.7%, marking its steepest one-day fall since July 2025.
SOFTWARE STOCKS ROUT CONTINUES
Investors were also evaluating the potential repercussions of AI developer Anthropic’s launch of plug-ins for its Claude Cowork that analysts said could disrupt the software business worldwide.
Tech and media stocks fell 2.5% and 0.7%, respectively, adding to their steep declines on Tuesday.
“There is a lot of uncertainty around exactly what AI agents can do, and as such, investors are choosing to shun the software market altogether, leaving nowhere to hide,” said Ben Barringer, head of technology research at Quilter Cheviot.
It was also a big day for bank earnings reports across the continent, with the banks’ sub-index dropping 1.2%
UBS reported outflows from its U.S. wealth management business on Wednesday and warned there were more to come after losing some relationship managers. Its shares dropped 6.3% despite beating quarterly profit forecasts.
Europe’s biggest lender Santander fell 3.5% after the Spanish bank said it would buy U.S. regional lender Webster Financial in a $12.2 billion deal.
Among other movers, shares in Beazley rose 6.9% to a record high as the British insurer agreed to terms of a sweetened 8-billion-pound ($10.97 billion) takeover proposal from Swiss firm Zurich Insurance. Zurich was also up 3.5%.
($1 = 0.7292 pounds)
Reporting by Avinash P, Johann M Cherian and Ragini Mathur in Bengaluru; Editing by Nivedita Bhattacharjee, Shinjini Ganguli, Rod Nickel
Pope Leo likely to visit Peru in November, bishop says
Bishop Carlos Garcia Camader told a press conference in Lima it was “very probable” that Leo would visit in November or the first week of December
International News via Reuters:
Pope Leo will likely travel to Peru in November, the president of the nation’s Catholic bishops said on Wednesday, for a visit expected to draw large crowds to see a pontiff who was a missionary in the South American country for decades.
Bishop Carlos Garcia Camader told a press conference in Lima it was “very probable” that Leo would visit in November or the first week of December. Garcia, who recently visited with the pope at the Vatican, put the chances of a visit at 80%.
Leo, the former U.S. Cardinal Robert Prevost, spent decades in Peru. He was first ordained a bishop for the diocese of Chiclayo, in the country’s northwest, and became a Peruvian citizen in 2015.
Garcia joked at the press conference that while the likelihood of a visit to Peru was 80%, the likelihood that Leo would visit Chiclayo during any visit to the country was 100%.
Garcia and most of the Peruvian bishops were in Rome last week for a series of meetings with Vatican officials, undertaken by Catholic bishops normally every five years.
Leo surprised the group by inviting them to have lunch together, an unusual honour.
Reporting by Reuters TV; additional reporting by Joshua McElwee; editing by Will Dunham
UNICEF calls for criminalization of AI content depicting child sex abuse
The agency also urged developers to implement safety-by-design approaches and guardrails to prevent misuse of AI models
International News via Reuters:
The United Nations children’s agency UNICEF on Wednesday called for countries to criminalize the creation of AI-generated child sexual abuse content, saying it was alarmed by reports of an increase in the number of artificial intelligence images sexualizing children.
The agency also urged developers to implement safety-by-design approaches and guardrails to prevent misuse of AI models. It said digital companies should prevent the circulation of these images by strengthening content moderation with investment in detection technologies.
“The harm from deepfake abuse is real and urgent. Children cannot wait for the law to catch up,” UNICEF said in a statement. Deepfakes are AI-generated images, videos, and audio that convincingly impersonate real people.
UNICEF also raised concerns about what it called the “nudification” of children, using AI to strip or alter clothing in photos to create fabricated nude or sexualized images.
At least 1.2 million children across 11 countries disclosed having their images manipulated into sexually explicit deepfakes in the past year, according to UNICEF.
Britain said on Saturday it plans to make it illegal to use AI tools to create child sexual abuse images, making it the first country to do so.
Concerns have increased in recent years about the use of AI to generate child abuse content, particularly chatbots such as xAI’s Grok – owned by Elon Musk – which has come under scrutiny for producing sexualized images of women and minors.
A Reuters investigation found the chatbot continued to produce these images even when users explicitly warned the subjects had not consented.
xAI said on January 14 it had restricted image editing for Grok AI users and blocked users, based on their location, from generating images of people in revealing clothing in “jurisdictions where it’s illegal.” It did not identify the countries. It had earlier limited the use of Grok’s image generation and editing features only to paying subscribers.
Reporting by Jasper Ward in Washington; editing by Michelle Nichols and Rod Nickel
Britain launches framework to boost advanced nuclear reactor development
The Labour government has said nuclear plants will play an important role in helping Britain meet its climate targets, provide clean energy to the growing AI sector and create jobs
International News via Reuters:
Britain unveiled a framework on Wednesday to accelerate development of advanced nuclear reactors, aiming to become a global leader in the next-generation technology.
The Labour government has said nuclear plants will play an important role in helping Britain meet its climate targets, provide clean energy to the growing AI sector and create jobs.
During U.S. President Donald Trump’s visit to Britain last year, several U.S. companies announced plans to build advanced nuclear projects in the country, including X-Energy, Holtec and Bill Gates-backed TerraPower.
Advanced nuclear reactors use novel fuels and coolants that allow them to operate at higher temperatures, meaning they could supply both electricity to the growing AI sector and industrial heat.
“Advanced nuclear technology could revolutionise how we power industry and propel the AI data centre boom,” Nuclear Minister Patrick Vallance said in a press release.
Under the framework, the government will create a pipeline of projects meeting readiness criteria, offering developers a streamlined path through planning and regulation.
The projects will need to secure private financing but will also be able to discuss government support, and can seek investment from Britain’s National Wealth Fund, which was set up in 2024 to drive economic growth and support the country’s net zero transition, the government said.
Reporting By Susanna Twidale. Editing by Mark Potter
Bardgett anchors historic SCAD masterclass
Equestrian history was rewritten this weekend at the Ronald C. Waranch Equestrian Center as the Savannah College of Art and Design (SCAD) delivered a performance for the ages, securing the first perfect score in the 35-year history of the Tournament of Champions (TOC).
In an event nearly derailed by a significant snowstorm, the resilience of the SCAD program was on full display. Once the gates finally opened for the rescheduled Winter Tournament, the defending Series Champions fielded two elite squads—Team BEE-Lieve and Team BEE Strong—who proceeded to dismantle the national field.
In a remarkable display of depth, both SCAD teams finished the day with a perfect total of 50 points. The achievement was so unprecedented it required five levels of tie-breakers to separate them.
Ultimately, Team BEE-Lieve was crowned Champions, while Team BEE Strong took the Reserve title—marking the first time in three decades that two teams from the same school have locked out the top spots with perfect scores.
Bermudian senior Kayla Bardgett was instrumental in the historic result. Anchoring Team BEE Strong, Bardgett showcased the technical precision that has defined her 2025/26 season.
Bardgett’s Individual Haul:
- Open Over Fences: 1st Place
- Open Flat: 1st Place
- TOC High Medal: Reserve Champion (2nd Place)
The High Medal class was the day’s marquee event. After navigating a crowded flat phase, Bardgett was called back as one of the top eight riders for the decisive jumping round. Her clinical performance over the hurdles secured her the Reserve Champion ribbon and cemented her status as one of the most consistent point-scorers in the collegiate circuit.
