The contracts climbed more than 0.4% on Wednesday following a rise of 1.5% a day earlier, after OPEC+ producer Kazakhstan halted output at its Tengiz and Korolev oilfields due to power distribution issues
International News via Reuters:
Oil prices slipped on Thursday, reversing the previous sessions’ gains, after U.S. President Donald Trump softened threats against Greenland and Iran, and as investors assessed the supply and demand outlook.
Brent crude was down 61 cents, or 0.9%, at $64.63 a barrel at 0954 GMT. West Texas Intermediate for March declined 54 cents, or 0.9%, to $60.08 a barrel.
The contracts climbed more than 0.4% on Wednesday following a rise of 1.5% a day earlier, after OPEC+ producer Kazakhstan halted output at its Tengiz and Korolev oilfields due to power distribution issues.
“There is a deflation of risk premium related to the Greenland debacle and Iran supply risk has also been reduced,” said Ole Hansen, chief commodity analyst at Saxo Bank.
On Wednesday, Trump ruled out the use of force to acquire Greenland and stepped back from tariff threats aimed at European allies.
Trump also said he hoped there would be no further U.S. military action in Iran, but added the United States would act if Tehran resumed its nuclear programme.
Against the backdrop of Greenland and the receding prospect of action in Iran, oil prices should hold at around $60 a barrel, said Tony Sycamore, an analyst with online broker IG.
Also Wednesday, Trump said he believed “we’re reasonably close” to a deal to end the war between Russia and Ukraine, adding he would meet Ukrainian President Volodymyr Zelenskiy later in the day.
An end to the war would likely result in the removal of U.S. sanctions on Russia, which would limit supply disruptions and weigh down prices.
The International Energy Agency revised its 2026 global oil demand growth forecasts higher on Wednesday in its latest monthly oil market report, suggesting a slightly narrower surplus this year.
U.S. crude and gasoline stocks rose, while distillate inventories fell last week, market sources said on Wednesday, citing figures from the American Petroleum Institute.
Crude stocks rose by 3.04 million barrels in the week ended on January 16, according to the API, said the sources, who spoke on condition of anonymity.
Gasoline inventories rose by 6.21 million barrels, while distillate inventories fell by 33,000 barrels, the sources said.
Eight analysts polled by Reuters forecast an average rise of about 1.1 million barrels in crude inventories for the week to January 16.
“High crude inventories are limiting further gains in oil prices in an oversupplied market,” said Yang An, an analyst at Haitong Futures.
Reporting by Anna Hirtenstein in London. Additional reporting by Sam Li in Beijing and Siyi Liu in Singapore; Editing by Clarence Fernandez, Thomas Derpinghaus and Joe Bavier
ManpowerGroup sees the global staffing market stabilising after a difficult 2025 and says improving economic conditions could set up the industry for growth in 2026
International News via Reuters:
ManpowerGroup sees the global staffing market stabilising after a difficult 2025 and says improving economic conditions could set up the industry for growth in 2026, even as employers and workers remain cautious amid geopolitical and trade uncertainty.
“With an improving economic outlook in Europe and a very strong economic outlook for the United States, there’s hope that the staffing industry as a whole can see some opportunities for growth in 2026,” CEO Jonas Prising told Reuters at the World Economic Forum in Davos, Switzerland.
He declined to give a specific outlook for Manpower, with the U.S. staffing company due to report its fourth quarter earnings on January 29.
Trump’s ambition to wrest sovereignty over Greenland from fellow NATO member Denmark has threatened to blow apart the alliance that underpinned Western security since the end of World War Two
International News via Reuters:
NATO Secretary General Mark Rutte said on Thursday that Western allies will need to step up their presence in the Arctic under a framework deal with the U.S., a day after President Donald Trump walked back threats to use tariffs or seize Greenland by force.
Rutte told Reuters in an interview on the sidelines of the World Economic Forum meeting in Davos that it was now up to NATO commanders to work through the details of extra security requirements and that he was sure non-Arctic NATO allies would want to contribute to the effort.
“We will come together in NATO with our senior commanders to work out what is necessary,” Rutte said.
“I have no doubt we can do this quite fast. Certainly I would hope for 2026, I hope even early in 2026,” he said.
Trump’s ambition to wrest sovereignty over Greenland from fellow NATO member Denmark has threatened to blow apart the alliance that underpinned Western security since the end of World War Two, and reignite a trade war with Europe.
After weeks of threats, Trump on Wednesday stepped back from the threat of imposing tariffs on countries opposing his plans and ruled out using force, suggesting instead that a framework deal over the Arctic island was in sight.
Reporting by Mark John, Steve Holland, Trevor Hunnicutt, Alessandro Parodi, Benoit Van Overstraeten, Stine Jacobsen, Markus Wacket, Sarah Marsh, Madeline Chambers; writing by Matthias Williams; Editing by Sharon Singleton
The chain, which sells everything from garden furniture to toys and food, has struggled with profitability amid accounting errors, stiff competition and higher costs
International News via Reuters:
Britain’s B&M issued its second profit warning in three months on Thursday as CEO Tjeerd Jegen forges ahead with a turnaround strategy to clear out old stock at steep discounts and boost sales at the expense of margins.
The chain, which sells everything from garden furniture to toys and food, has struggled with profitability amid accounting errors, stiff competition and higher costs.
Its UK like-for-like (LFL) sales fell 0.6% in the third quarter partly due to weak performance from Heron Foods, the convenience and frozen food chain it bought in 2017, but outperformed an RBC forecast for a 2% decline.
There were signs of improvement with December LFL sales rising 3%, a trend B&M said continued in early January.
It now expects group adjusted core profit of 440 million to 475 million pounds ($591 million to $638 million) for the year ending March, versus 470 million to 520 million pounds expected earlier.
B&M shares fell as much as 5%, before reversing losses to trade marginally higher by 0950 GMT. They have lost about half their value in the past year.
TURNAROUND RISKS TAKING LONGER THAN EXPECTED
Jegen, who joined in May, has moved quickly to sharpen pricing, simplify B&M’s product ranges and is mulling launching an online channel to capture social-media-driven shopping.
“We think the new CEO’s strategy is credible with the main risk being that it takes longer to come through than B&M expects,” RBC analyst Richard Chamberlain said in a note.
B&M is also reviewing Heron Foods, which has been hit by weak footfall, lease pressures and store closures.
Panmure Liberum’s Ben Hunt said the recovery depends on whether B&M can fund the price cuts by raising prices on its higher-margin general merchandise.
“There are at least some positives to take away from the improved LFL exit rate,” said Jefferies analyst Andrew Wade.
($1 = 0.7449 pounds)
Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu, Mark Potter and Joe Bavier
Investor attention shifted to the state of the economy after geopolitics dominated earlier in the week, as the prospect of a U.S.-Europe trade war unsettled markets
International News via Reuters:
Sterling edged up against both the euro and the U.S. dollar after recent economic data painted a mixed picture, bringing the Bank of England rate outlook back into focus.
Investor attention shifted to the state of the economy after geopolitics dominated earlier in the week, as the prospect of a U.S.-Europe trade war unsettled markets.
Sterling traded at $1.3414, up 0.12%, after showing little reaction to Wednesday’s inflation report.
The U.S. dollar held on to overnight gains after President Donald Trump withdrew a threat to impose tariffs on several European NATO countries over Greenland.
Earlier this week data showed Britain’s jobs market weakened, potentially easing the BoE’s worries about persistent inflation pressures.
“Despite the uptick in the consumer price index, we still see Bank Rate on a downward direction,” said Sanjay Raja, chief UK economist at Deutsche Bank, adding the bank is sticking for now to its call for two additional rate cuts.
“However, we see risks as skewed to slower easing in the first half of 2026,” he added.
The pound held steady on Wednesday, after data showed UK inflation picked up more than expected in December.
“UK employment data for November and December were weak, confirming the recent labour market slowdown, and December consumer price data was mixed, but on the cool side,” said Felix Vezina Poirier, chief strategist at BCA Research.
“More Bank of England cuts will be required, with barely two 25 bps cuts priced by year-end,” he added, arguing that further weak data could bring an April cut into focus.
Morgan Stanley expects the BoE to deliver its next interest rate cut in March.
The euro was down 0.05% at 86.96 pence, after hitting 87.45 pence on Wednesday, its highest level this year.
The single currency rose 0.63% against the pound on Tuesday in its biggest daily rise since early August.
Britain’s government borrowed less than expected in December, helped by robust growth in tax receipts, according to data on Thursday.
reporting by Stefano Rebaudo; Editing by Jan Harvey
Narraway, Arnold and Millington among winners as the BBA recognises riders, organisers, officials and volunteers for performance, service and spirit
The Bermuda Bicycle Association’s 2025 Awards recognise achievement, dedication, and community spirit across all levels of cycling in Bermuda.
The Bermuda Bicycle Association (BBA) is proud to announce the recipients of its 2025 BBA Awards, recognising excellence in performance, development, leadership, officiating, organisation, and volunteer service across the local cycling community. The awardees were honoured this past weekend an event at Robin Hood.
The 2025 season reflected strong participation at home and impactful representation abroad. This year’s award recipients highlight not only competitive success, but the people and values that keep cycling in Bermuda progressing.
“These awards recognise far more than podium finishes. They celebrate the people who give their time, show up consistently, and represent Bermuda cycling with integrity, whether that’s racing internationally, organising events, officiating safely, or supporting others on the road” states Peter Dunne, President, Bermuda Bicycle Association. “The BBA is proud of the standard set by our 2025 award recipients.”
Male Rider of the Year
Nicholas Narraway
Nicholas Narraway is honoured for an outstanding year defined by notable achievements, continued progression, and exemplary sportsmanship. Competing in his first year in the Elite category, Nic delivered standout performances at both national and regional levels, capturing the Bermuda National Elite Time Trial Championship and the Elite Caribbean Time Trial Championship. Importantly, his Caribbean Championship victory secured a qualification place for Bermuda cycling at the Central American and Caribbean (CAC) Games, delivering a direct and measurable benefit to the national programme. Throughout the season, Nic also recorded multiple victories in time trial and gravel events, along with numerous top-10 finishes while racing in Spain with Tenerife–BikePoint–La Sede Bicycles, contributing both individual results and key support to his teammates.
Female Rider of the Year
Gabriella Arnold
Gabriella Arnold is recognised for strong results, dedication, and positive representation of the BBA. In 2025, Gabby delivered high-level performances across road, mountain bike, time trial, and gravel disciplines.
Her standout international performances came at the Caribbean Cycling Championships in Belize, where she earned silver in the road race and bronze in the time trial. Notably, her aggressive racing helped shape the final selection in the road race, with both medal performances securing qualification places for Bermuda at the 2026 CAC Games. Throughout the season, Gabby also demonstrated her versatility by earning podium results in highly competitive gravel races in the United States. Gabrielle rides for
Junior Rider of the Year
Charlotte Millington
Charlotte Millington is awarded Junior Rider of the Year for outstanding junior performance, consistency, sportsmanship, and commitment throughout the 2025 season. Competing in her final year as a junior, she delivered strong results locally and internationally while also acting as a leader within the junior ranks.
At the Junior Caribbean Cycling Championships, Charlotte captured gold in the Junior Female Time Trial and silver in the Junior Female Road Race, bringing her career medal count at the Championships to six. She was selected by the BBA and the Bermuda Olympic Association to compete at the Junior Pan American Games in Paraguay, following strong performances at the Pan American Road Championships in Uruguay. Locally, Charlotte secured three national titles in mountain bike, road race, and time trial.
Most Improved Adult Rider of the Year
Neil MacGuinness
Neil MacGuinness is recognised for demonstrating measurable progress and dedication to development throughout the 2025 season. Whether deliberate or not, keeping pace with his son in training has clearly paid dividends, with noticeable improvements in performance across the year.
Most Improved Junior Rider of the Year
Jonah MacGuinness
Jonah MacGuinness is recognised for demonstrating measurable progress and a strong commitment to development. Across both the mountain bike and road seasons, Jonah continued to show growth in bike-handling skills and competitive finishes.
Adult Spirit Award
Nyon Steede
Nyon Steede receives the Adult Spirit Award for his enthusiasm, teamwork, and positive presence within the cycling community. A simple but powerful example of this spirit can be seen on Sunday morning group rides, where Nyon often pauses at the St. George’s roundabout to help direct traffic, ensuring riders pass through safely before continuing his own ride. A small gesture that makes a big difference for safety and morale.
Junior Spirit Award
Keon Stevens
Keon Stevens is recognised for exhibiting enthusiasm, teamwork, and positivity in the sport of cycling. Having faced setbacks through injury and accidents, Keon has returned with good spirits, big smiles, and a clear desire to continue improving — a powerful example for young riders navigating challenges in the sport.
Club Person of the Year
Adam Hopkins
Adam Hopkins receives Club Person of the Year for exceptional service, leadership, and ongoing support of club activities. As the BBA’s Treasurer, much of Adam’s contribution happens behind the scenes, but his expertise ensures the Association remains in good standing, elite athletes receive funding, and international campaigns are properly supported.
Race Official of the Year
Charles Thresh
Charles Thresh is recognised for professionalism, reliability, and officiating excellence. His quiet and calm demeanour helps keep races running smoothly and efficiently, even when challenges arise, and his commitment to fairness and safety continues to underpin high-quality events.
Volunteer of the Year
Chequan Richardson
Chequan Richardson is recognised for making significant contributions to events, safety, and operations. As a coach and mechanic, he volunteers time both on-island and internationally, supporting BBA teams when representing Bermuda abroad. His reliability and willingness to step in wherever needed are critical to the smooth running of BBA activities.
Race Organiser of the Year
Bermuda Rouleurs Cycling Club
The Bermuda Rouleurs Cycling Club is recognised for making significant contributions to events, safety, and operations throughout the 2025 season. Their commitment to race delivery, organisation, and rider experience played a key role in the success of the local racing calendar. The 2025 season also saw the introduction of new race formats that challenged the membership and kept the season fresh and engaging.
The Bermuda Bicycle Association now turns its focus to the 2026 season, with riders progressing through pathways toward regional and international competition.
St. George’s, Bermuda, January 21, 2026 — Salt Spray Soap, the Bermudian-owned skincare brand known for its handmade soaps, body butters, oils, scrubs, and bath salts, is marking its 10th anniversary in business, celebrating a decade of local manufacturing, job creation and purpose-led growth.
Founded by Bermudian Genelle John, Salt Spray Soap officially opened its doors in October 2015 after launching at the America’s Cup Village. The brand was built on Ms John’s long-standing practice of formulating natural skincare for herself and her family, a skill she began developing in her early twenties while studying abroad.
A pivotal moment in the brand’s early development came when Ms John created a custom blend to soothe her stepson’s skin during his cancer treatment, reinforcing the practical, care-driven approach that continues to define the business today.
Over the past ten years, Salt Spray Soap has grown into a trusted local brand, operating seven days a week and maintaining a strong commitment to consistent product availability and in-house production. Job creation has remained central to the company’s ethos, with the business now entering a new phase of sustainable growth.
Ms John says: “Salt Spray Soap started as something very personal, making skincare for myself and my family, and later during a moment when care really mattered. Ten years on, I’m incredibly proud that it’s grown into a trusted Bermudian brand that still operates with the same intention it began with. I’m deeply grateful to the customers who have supported the business over the past decade and made this milestone possible.”
As part of its 10-year milestone, Salt Spray Soap is expanding its offerings to include interactive skincare workshops, allowing participants to create their own body oils and bath salts. The workshops are designed for private groups, celebrations and corporate experiences, with sessions tailored to the goals and preferences of each group.
Salt Spray Soap will continue to produce all products locally in Bermuda while focusing on team expansion, experiential offerings, and long-term brand sustainability.
The upcoming re-opening of the Fairmont Southampton highlights an issue that goes beyond the iconic hotel, affecting our work-force as a whole.
In an extended report, Gary Foster Skelton looks back over some of the commentary around the hotel, and the wider tension between immigration, maintaining local businesses, and the provision of adequately paying jobs for Bermudians.
The divestment of Escode, which provides software escrow and verification services, marks the final step in NCC’s plan to exit non-core operations, following a review launched in April last year
International News via Reuters:
Cybersecurity specialist NCC Group said on Wednesday it has agreed to sell its Escode business to private equity firm TDR Capital for an enterprise value of 275 million pounds($369.35 million), leaving it as a pure-play cyber security firm.
The divestment of Escode, which provides software escrow and verification services, marks the final step in NCC’s plan to exit non-core operations, following a review launched in April last year.
“The sale of Escode completes the divestment of our non‑core activities and allows NCC to focus fully on accelerating growth in our core cyber security resilience business,” CEO Mike Maddison said in a statement.
Shares in the Manchester-based company were up about 1.8% at 1452 GMT. The stock was down nearly 8% in 2025.
NCC said it expects net proceeds of 262.4 million pounds and intends to return a significant portion to shareholders. It also announced a share buyback of up to 10% of its issued share capital.
The deal is subject to regulatory approvals and is expected to complete no earlier than April 30, 2026.
NCC has previously said it is conducting a strategic review of its cybersecurity business, the company’s other major division, contingent on the Escode sale.
($1 = 0.7445 pounds)
Reporting by Nithyashree R B, Yamini Kalia and Raechel Thankam Job in Bengaluru; Editing by Tasim Zahid
U.S. President Donald Trump said on Saturday he planned tariffs from February 1 on several European countries, including Sweden, over Greenland, a move major EU states criticised as blackmail
International News via Reuters:
Volvo Cars said on Wednesday that its new electric mid-sized SUV, the EX60, will have a similar price tag to the plug-in hybrid version of the same model, as the Swedish automaker dismissed concerns that any Greenland-linked U.S. tariffs could disrupt its plans.
U.S. President Donald Trump said on Saturday he planned tariffs from February 1 on several European countries, including Sweden, over Greenland, a move major EU states criticised as blackmail.
Volvo exports the majority of its U.S.-bound cars from Europe.
The EX60 – which was launched on Tuesday in Stockholm – will be built at Volvo’s Gothenburg plant and would be affected if the tariffs were enacted. However, Chief Executive Håkan Samuelsson dismissed the risk and ruled out further production shifts.
“New tariffs are not decided by a Truth Social media account. Let’s see if it comes. I have doubts something will come out of this,” he told Reuters. Samuelsson said Volvo still expected to achieve both price parity and margin parity between the EX60 and the plug-in hybrid XC60 across markets, including the United States.
“Most of the big plug-ins also have 15% duty, so it should be margin parity everywhere, I don’t see any difference.”
The EX60 will start at 62,990 euros ($73,755) in Germany, compared to around 67,990 euros for Volvo’s best-selling XC60.
High price tags have been a major barrier to broader EV adoption, with electric cars on average costing around 30% more than comparable combustion models. The EX60 will be launched in Europe this summer before reaching the U.S. later in the year. However, it will not initially come to the fiercely competitive Chinese market, following a similar strategy to that of sister brand Polestar.
Volvo, majority-owned by China’s Geely, has scaled back its push to go fully electric after slower demand and delays to the EX30 and EX90.
Fully-electric cars currently account for just over 20% of sales but Samuelsson hopes the EX60 will become a major volume driver, winning over “electric doubters” with its long range, reasonable price and “coffee-break length” charging time.
($1 = 0.8540 euros)
Reporting by Marie Mannes; Editing by Kirsten Donovan
Leo, the first U.S. pope and a critic of some of Trump’s policies, is evaluating the invitation, he said
International News via Reuters:
Pope Leo is among world leaders invited to join U.S. President Donald Trump’s “Board of Peace”, Cardinal Pietro Parolin, the Vatican’s top diplomatic official, said on Wednesday.
Leo, the first U.S. pope and a critic of some of Trump’s policies, is evaluating the invitation, he said.
“The pope has received an invitation and we are considering what to do,” Parolin told journalists. “I believe it will be something that requires a bit of time for consideration before giving a response.”
The board was initially aimed at ending the conflict in Gaza, however Trump has said it will have a much broader remit and resolve conflicts globally.
While some countries, such as Israel and Egypt, have accepted the invitation, a number of others have expressed caution with diplomats warning it could harm the work of the United Nations.
The Vatican press office did not immediately respond to a request for comment about Parolin’s remarks.
Leo, who has shown a robust but quiet diplomatic style since being elected pope last May, has decried conditions for Palestinians living in Gaza several times, including in a forceful sermon on Christmas Eve.
The pope, leader of the world’s 1.4 billion Catholics, rarely joins international boards. The Vatican has an extensive diplomatic service and is a permanent observer at the United Nations, often taking part in debates.
Reporting by Joshua McElwee; Editing by Crispian Balmer and Janet Lawrence
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