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Oil dips as investors assess Iran supply, Venezuelan export resumption

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Oil dips as investors assess Iran supply, Venezuelan export resumption

Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel, down 34 cents, or 0.58%

International News via Reuters:

Oil prices fell slightly on Monday after Iran said it had total control following the biggest anti-government demonstrations in years, easing some concerns over supply, while investors also weighed efforts to resume oil exports from Venezuela.

Brent crude futures lost 28 cents, or 0.44%, to $63.06 a barrel by 1402 GMT while U.S. West Texas Intermediate crude was at $58.78 a barrel, down 34 cents, or 0.58%.

“Lower European equity markets and lack of additional supply disruptions is moderately weighing on oil prices, following a strong rally at the end of last week,” said UBS analyst Giovanni Staunovo.

Both benchmarks rose more than 3% last week in their biggest such rise since October, as OPEC producer Iran’s clerical establishment stepped up its crackdown on the biggest demonstrations since 2022.

TRUMP WARNS OF INTERVENTION IN TEHRAN

The situation in Iran is “under total control” after widespread demonstrations over the weekend, Foreign Minister Abbas Araqchi said on Monday in remarks translated to English.

U.S. President Donald Trump had warned of possible military intervention in the event of a violent crackdown on the Iranian protests. 

Trump is expected to meet senior advisers on Tuesday to discuss options for Iran, a U.S. official told Reuters.

VENEZUELA SET TO RESUME OIL EXPORTS SOON

Venezuela is expected to resume oil exports soon following the ouster of President Nicolas Maduro, as Trump said last week the government in Caracas is set to turn over as much as 50 million barrels of sanctioned oil to the United States.

That has set off a race among oil companies to find tankers and prepare operations to ship the crude safely from vessels and dilapidated Venezuelan ports, four sources familiar with the operations said.

In a White House meeting on Friday, Trafigura said its first vessel should load in the next week.

Investors are also watching the risk of disruptions in supply from Russia, amid Ukraine’s attacks targeting its energy facilities and the prospects of tougher U.S. sanctions on Russian energy.

Oil prices are likely to drift lower this year as a wave of supply creates a market surplus, although geopolitical risks tied to Russia, Venezuela and Iran will continue to drive volatility, Goldman Sachs said in a note on Sunday.

The investment bank maintained its 2026 average price forecasts of $56/$52 per barrel for Brent/WTI, and expects Brent/WTI prices to bottom at $54/50 in the last quarter as OECD inventories build up.

Reporting by Stephanie Kelly and Enes Tunagur in London and Florence Tan and Siyi Liu in Singapore; Editing by Bernadette Baum and Sharon Singleton

European commissioner says US military takeover of Greenland would be end of NATO

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European commissioner says US military takeover of Greenland would be end of NATO

Trump has said the United States must own Greenland, an autonomous part of the Kingdom of Denmark, to prevent Russia or China occupying the strategically located and minerals-rich Arctic territory

International News via Reuters:

The European Union can help provide security for Greenland, should Denmark request it, the European Commissioner for Defence and Space said on Monday, warning that a U.S. military takeover of Greenland would be the end of NATO.

Trump has said the United States must own Greenland, an autonomous part of the Kingdom of Denmark, to prevent Russia or China occupying the strategically located and minerals-rich Arctic territory. He says a U.S. military presence there is not

enough.

Denmark and the U.S., both NATO members, are scheduled to meet this week to discuss Greenland. Greenland and Denmark have said that Greenland is not for sale, but Trump has not ruled out taking it by force.

“I agree with the Danish prime minister that it will be the end of NATO, but also among people it will be also very, very negative,” Commissioner Andrius Kubilius told Reuters at a security conference in Sweden.

KUBILIUS ASKS WHO WOULD RECOGNISE ANY OCCUPATION

He said it would have a “very deep negative impact among the people and on our transatlantic relations”.

Trump said “I’m the one who SAVED NATO!!!” on Truth Social on Monday, without giving further details or context.

Kubilius said he did not think a U.S. military invasion was coming but that the European Union Treaty article 42.7 obliged member states to come to Denmark’s assistance if it was faced with military aggression.

“It will depend on very much on Denmark, how they will react, what will be their position, but definitely there is such an obligation of member states to come for mutual assistance if another member state is facing military aggression,” he said.

Kubilius questioned the rationale of occupying Greenland by force and warned that it would have impacts on all aspects of the relations between Europe and the United States.

“Who will recognise that occupation and what impacts on all the relationship in between of the United States and Europe, including, for example, trade, where also Americans can face quite painful negative consequences,” he said.

Kubilius said the EU could provide more security for Greenland, if Denmark requested it, including troops and military infrastructure such as warships and anti-drone capabilities.

“That’s for military people to say what Greenland or the Arctic defence needs. Everything is possible,” he said.

MILITARY CAPABILITIES

Kubilius also said Europe needed to build up its military capabilities, regardless of whether they could rely on U.S. help – but that any U.S. withdrawal from NATO would be very tough.

“It will be a very big challenge to be ready to defend Europe, being independent, being without the United States,” he said.

“The question would be how we can use in that case NATO structures, how they can be, you know, become a basis for European pillar of NATO. But NATO such as it is now definitely will not exist anymore.”

Trump said last week the U.S. would always support NATO and that Russia and China only feared the alliance as long as the United States was a member.

Many NATO countries have substantially increased military spending in recent years, following Russia’s 2022 invasion of Ukraine and demands by Trump for European allies to invest more in their own defence.

Reporting by Johan Ahlander; Editing by Toby Chopra and Alison Williams

Google, Apple enter into multi-year AI deal for Gemini models

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Google, Apple enter into multi-year AI deal for Gemini models

The tie-up signals a strong vote of confidence in Google’s AI technology, after its most recent version of Gemini launched to strong reviews, intensifying pressure on rivals

International News via Reuters:

Alphabet said on Monday it had entered into a multi-year deal with Apple where the next generation of the iPhone maker’s AI models will be based on Google’s Gemini models.

The tie-up signals a strong vote of confidence in Google’s AI technology, after its most recent version of Gemini launched to strong reviews, intensifying pressure on rivals.

Google’s models will power Apple’s future “Apple Intelligence” features, including the revamped Siri, set to launch this year.

“After careful evaluation, Apple determined that Google’s AI technology provides the most capable foundation for Apple Foundation Models,” Google said in a statement.

“Apple Intelligence will continue to run on Apple devices and Private Cloud Compute, while maintaining Apple’s industry-leading privacy standards.”

Reporting by Zaheer Kachwala in Bengaluru; Editing by Shreya Biswas

BBC Radio News: Monday Evening – 12 January 2026

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BBC Radio News: Monday Evening – 12 January 2026
Bermuda BroadcastingBBC Radio News: Monday Evening - 12 January 2026
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  1. BBC Radio News: Monday Evening - 12 January 20265:53
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Wall Street wobbles, gold resurgent as Trump pursues central banker

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Wall Street wobbles, gold resurgent as Trump pursues central banker

Powell delivered an unusually full-throated rejection of the Department of Justice’s service of grand jury subpoenas

International News via Reuters:

Wall Street wobbled and the dollar ceded ground while gold hit a new high on Monday as the Trump administration’s threat to indict Federal Reserve Chair Jerome Powell renewed questions about the future independence of the world’s most influential central bank.

Powell delivered an unusually full-throated rejection of the Department of Justice’s service of grand jury subpoenas, adding to what Morgan Stanley analysts called a “cacophony of market-moving events” to start what is only the second full week of 2026.

News that Trump was considering military action after a crackdown on protests in Iran added further potential tension following the capture of Venezuela’s Nicolas Maduro and suggestion the U.S. could try to acquire Greenland.

Stocks slipped, with the benchmark S&P 500 down 0.1%, the Dow Jones Industrial Average 0.56% lower, and the Nasdaq Composite shedding 0.04%.

The dollar index, measured against a basket of major currencies, fell 0.4% to 98.83, with the euro up 0.33% at $1.1676.

“The point is that the central bank’s response function is likely to change fundamentally and in the long term if the White House succeeds” in gaining control of monetary policy, said Thu Lan Nguyen, head of forex and commodity research at Commerzbank, after flagging that the Fed is already in a rate-cutting cycle and this scenario becomes relevant only if inflation risks rise.

“However, as the foreign exchange market is forward-looking, this already justifies a higher U.S. dollar risk premium today,” she added.

Gold enjoyed its safe-haven status and rose 2.34% to $4,615.29 an ounce. Silver also rose. [GOL/]

Oil prices fell slightly after Iran said it had “total control” of the situation following a weekend of violence. Traders also factored in the prospect of further supply potentially coming from Venezuela into a market already likely to be over-supplied. [O/R]

U.S. crude dipped 0.42% to $58.89 a barrel and Brent fell 0.21% to $63.22 per barrel. Both benchmarks had risen last week as the crackdown in Iran tightened. 

“REMARKABLE STUFF”

Stock in lenders and credit card firms fell harder than other sectors, after Trump’s call on Friday for a one-year cap on credit card interest rates at 10% starting on January 20.

Citigroup fell more than 3%. Bank of America fell around 1%, JPMorgan Chase 1.6% and US Bancorp more than 2%. Finance firms Synchrony Financial and Capital One fell hard but recovered slightly to be quoted both down over 6%. [.N]

“Based on very preliminary calculations, Citi would have the highest hit and next US Bancorp,” JPMorgan analysts said in a note, explaining that US Bancorp “has credit card loans with higher rates, implying that it has more subprime customers”.

Closely watched developments this week include U.S. inflation data, trade figures from China and a slew of U.S. earnings beginning with JPMorgan and BNY on Tuesday.

The dramatic escalation in the fight between Powell and Trump, which dates back to the banker’s first years as chair in 2018, will likely stay front and center.

“Trump is pulling at the loose threads of central bank independence,” said Andrew Lilley, chief rates strategist at Barrenjoey, an investment bank based in Sydney.

“Investors won’t be happy about it, but it shows actually Trump has no other levers to pull. The cash rate will stay what the majority of the FOMC wants them to be.”

Deutsche Bank analysts totted up the various factors markets will have to weigh. “(R)emarkable stuff and all in all plenty of opportunities for big headlines over the coming days,” they said in a note.

Additional reporting by Tom Westbrook and Ankur Banerjee; Editing by Alexander Smith, Chizu Nomiyama and Andrea Ricci

Deadline draws nearer for Regiment scholarship

Bermuda Broadcasting Newsdesk
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Deadline draws nearer for Regiment scholarship

The opportunity blends education with paid, part-time service

Young adults committed to personal growth are urged to consider a 2026 Royal Bermuda Regiment (RBR) scholarship opportunity that combines education with service.

A maximum of four successful applicants will be fully covered for tuition to complete certificate, diploma or degree programmes at the Bermuda College for up to two years.

With their sights set on developing self-confidence, leadership and critical-thinking skills, awardees will commit to an initial term of paid, part-time service with the RBR of three years and two months, to begin as they undertake full-time study.

Corporal Joliza Vanderpool, the RBR’s Regimental Careers Management Officer Assistant, said: “The award seeks to support individuals committed to their personal growth and development, who demonstrate a commitment to public service and who demonstrate the potential for future leadership within the Regiment.”

The battalion provides service support across the island and the opportunities it offers for development are many and varied.

Its work includes maritime security and search-and-rescue capabilities, humanitarian aid and disaster response operations, protection capacity, and ceremonial support.

Cpl Vanderpool explained: “This scholarship package means that you are earning an income at the same time as being in school and giving yourself a chance to be more skilled in the future.

“The Regiment is not only offering a part-time job, but we are also offering the opportunity for us to ease your stress when it comes to covering college tuition. Additionally, you will earn a wage as you learn soldiering.”

Cpl Vanderpool noted: “When you come through the gates of the Royal Bermuda Regiment, we don’t expect you to have all the skills that you require to be here – and that’s OK. We teach you everything that you would need to know to be an effective soldier.

“There are opportunities for overseas training courses that can help boost your academic credentials as well. When undertaking these courses, your job is to learn as much as you can while you are out there and bring those skills back to support the remainder of the battalion.

“You never know where life may take you, so giving back to your country, even for our minimum service requirement, is a worthwhile option to develop yourself both personally and professionally.”

Learning credits are also available for members of the Regiment, providing lifelong educational opportunities for personnel throughout their service.

Successful scholarship applicants will have a minimum GPA of 2.50 and be Bermudians aged between 18 and 25 on February 1, 2026.

Awardees must meet physical fitness, health and national security requirements to join the Regiment.

The application period has a deadline of January 22, 2026.

For more information and full eligibility criteria, visit bermudascholarships.com and search for the 2026 Royal Bermuda Regiment Scholarship.

For information on joining the Royal Bermuda Regiment, visit rbr.bm, call 238-1045 or contact the Recruiting Team at rbr.recruiting@gov.bm

Residents to have their say on electoral reform

Bermuda Broadcasting Newsdesk
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Residents to have their say on electoral reform

Government is seeking input on how Bermuda’s voting system can be made easier, fairer, and more accessible

The Minister for the Cabinet Office and Digital Innovation, the Hon. Diallo Rabain, JP, MP, invites members of the public to participate in ongoing island-wide Electoral Reform Town Halls, seeking input on how Bermuda’s voting system can be made easier, fairer, and more accessible for all Bermudians.

These meetings form part of the Government’s efforts to modernise Bermuda’s electoral system and boost public confidence and participation in the democratic process. A strong democracy relies on the voices of its people, and these forums provide an opportunity for residents to share their views and learn about possible improvements to election administration.

Each town hall will include a brief presentation, followed by a moderated discussion, allowing attendees to ask questions and contribute directly to the conversation.

Minister Rabain explained, “These town halls are about listening. Hearing directly from the public will help guide reforms that strengthen confidence, fairness, and accessibility in Bermuda’s electoral system. I encourage everyone to attend, ask questions, and share their perspectives.”

The discussions will focus on key areas under consideration as part of broader electoral reform, including:

  • Implementing absentee voting for eligible Bermudian Students studying overseas;
  • Establishing clear and transparent standards for political parties and campaign financing;
  • Ensuring the voters’ register remains accurate, private, and transparent;
  • Embracing practical modernisation of our electoral systems and technology; and
  • Setting consistent and fair rules for polling day administration.

Electoral Reform Town Hall Tour Schedule

  • Tuesday, January 13, 2026
    St. David’s Primary School
    6:30 p.m. – 8:00 p.m.
  • Thursday, January 15, 2026
    Leopards Club
    6:30 p.m. – 8:00 p.m.
  • Monday, January 19, 2026
    Warwick Workman’s Club
    6:30 p.m. – 8:00 p.m.
  • Tuesday, January 20, 2026
    Bermuda College
    6:30 p.m. – 8:00 p.m.
  • Thursday, January 22, 2026
    Somers Isle Lodge
    6:30 p.m. – 8:00 p.m.
  • Tuesday, January 27, 2026
    West End Sailboat Club
    6:30 p.m. – 8:00 p.m.

Meta to exclude Italy from rival chatbot ban on WhatsApp

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Meta to exclude Italy from rival chatbot ban on WhatsApp

The Italian watchdog AGCM last month ordered Meta to suspend its proposed ban while the watchdog investigates the company for suspected abuse of its market power following complaints from rivals

International News via Reuters:

Meta Platforms will exclude Italy from its ban on rival AI chatbots on WhatsApp following an order from the country’s antitrust authority, according to a notice sent to AI providers and developers seen by Reuters.

The Italian watchdog AGCM last month ordered Meta to suspend its proposed ban while the watchdog investigates the company for suspected abuse of its market power following complaints from rivals. The European Commission too is probing Meta over whether it abused its dominance by blocking rival AI chatbots from its messaging service WhatsApp, but did not issue any interim order.

Blocking other AI providers’ access to WhatsApp would give a potential boost to Meta’s own chatbot and virtual assistant Meta AI integrated into the platform last year.

Meta, in its notice to AI providers and developers circulated early last week, said that phone numbers with an Italian country code are currently exempt from WhatsApp’s updated terms of service, to comply with an order from Italian regulators. The updated terms come into effect on January 15.

Meta declined to comment on the updated terms of service and referred to a statement issued late last year which said that the emergence of AI chatbots put a strain on its systems that they were not designed to support.

The Italian antitrust authority declined to comment.

The Interaction Company of California, which has developed AI assistant Poke.com and complained to both the Italian and EU competition regulators, criticised Meta’s Italian carve-out.

“Meta’s move to keep enforcing its new WhatsApp API policy – shutting out AI rivals like Poke.com while only carving out +39 numbers – is deeply disappointing,” Marvin von Hagen, co-founder and CEO of The Interaction Company of California, told Reuters.

“The Italian authority has found Meta’s conduct to be at first glance anti-competitive under EU law. Meta should have suspended the policy worldwide, not just in Italy. The (European) Commission must urgently follow Italy’s lead and adopt interim measures,” he said.

Reporting by Foo Yun Chee; Editing by Susan Fenton

Photo finishes and season bests ignite Vesey Street

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Photo finishes and season bests ignite Vesey Street

The judges were kept working overtime at the National Equestrian Center as a thrilling afternoon of harness pony racing culminated in four photo finishes and the fastest times of the 2026 season.

In a day defined by razor-thin margins, the presiding official was called upon to settle multiple dead heats, starting in the 1:07&1 – 1:08&3 Time Bar Class. Victoria’s Secret, driven by Candyce Martins, and Reel Desire, piloted by Liam Stones, crossed the wire in an identical time of 1:06/2. After a careful review of the tape, Martins was awarded the win by the narrowest of margins.

The drama continued in the 1:03&1 – 1:04&1  Time Bar Class, where Rockeyed Optimist and Huntinforgold both clocked a blistering 1:04 flat. Maurice Raynor was eventually ruled the victor in a heart-pounding finish. History repeated itself in the 1:04&2 – 1:05&3 Time Bar Class, as Holy Grail went nose-to-nose with Inwood’s Realist. Both recorded a time of 1:05/2, with Jashaun Young securing the decision.

The atmosphere reached a fever pitch for the elite 1:03 and Faster  Time Bar Class. In a spectacular display of speed, Red October, driven by Philip Correia, and Smart Machine, with Candyce Martins at the helm, recorded the joint-fastest times of the day at a scorching 1:02/0. After a final consultation, Correia was awarded the win, capping off an afternoon of racing that saw the track record under constant threat.

Nigeria reopens some schools in the north, defying threats of kidnap

Bermuda Broadcasting Newsdesk
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Nigeria reopens some schools in the north, defying threats of kidnap

The abductions last year had underlined the vulnerability of education facilities in a region plagued by criminal gangs and Islamist insurgents

International News via Reuters:

Schools across parts of northern Nigeria started reopening on Monday, after months of closure triggered by the abduction of hundreds of students in November.

The abductions last year had underlined the vulnerability of education facilities in a region plagued by criminal gangs and Islamist insurgents.

Schools resumed academic activities this term after the federal government said in a circular last month that enhanced security measures had created a safer environment for students to return. It did not provide details.

In northern Kaduna state, a 17-year-old student said it was difficult for her to return to school after two months away.

“What I love most about our school is being together at lunchtime and spending time with my teachers and friends. I miss it so much,” she said at her home before leaving for Federal Government College boarding school in the state.

Her father, Haruna Danjuma, said the decision to return his daughter to school was difficult, but fear of kidnapping should not deprive children of their right to education.

“A child is a gift from Almighty Allah, and it is my responsibility to educate her,” he said. “But it is the responsibility of government to secure the children.”

In Niger State, central Nigeria, where more than 300 students and staff were abducted in November, a majority of the schools remained shut for security reasons, state officials said. 

Saint Mary’s Catholic School in the Papiri hamlet was among those that would not reopen yet, the Christian Association of Nigeria said, citing a statement from the state government directing areas facing security challenges to remain closed until further notice.

Explaining the continued closure of schools, Niger commissioner for education Hadiza Mohammed said “the safety of students, teachers, and school communities remains paramount.”

Reporting by Ahmed Kingimi, Writing by Ben Ezeamalu, Editing by Alex Richardson

White clinches top-ten finish in Canada

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White clinches top-ten finish in Canada

Bermudian cyclist Conor White delivered a resilient display on the boards this week, securing a hard-fought ninth-place finish overall in the Men’s Elite Omnium at the 2026 Canadian Track Championships.

Competing inside the high-tech Bromont National Cycling Center in Quebec, White made an immediate impact by powering to victory in his qualifying heat. The result served as a warning to a stacked field of North America’s top track specialists, marking the 26-year-old as a serious contender for the podium.

The Omnium—a grueling four-race discipline testing speed and tactical awareness—proved to be a rollercoaster. White opened with a solid seventh in the Scratch Race, but struggled in the middle stages, finishing 14th in the Tempo Race and 20th in the Elimination Race.

However, showing the grit that has defined his road career, White produced a standout finale. By relentlessly hunting sprint bonuses, he claimed fourth place in the concluding Points Race, catapulting him back up to ninth in the final standings.

The performance serves as a vital warm-up for White’s 2026 campaign with the British elite squad JAKROO Handsling Racing. He is slated to make history next month in Santiago as the first cyclist to represent Bermuda at the Pan American Track Championships, with his focus now shifting to a high-intensity training camp in Spain next week.

Alphabet hits $4 trillion valuation as AI refocus lifts sentiment

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Alphabet hits $4 trillion valuation as AI refocus lifts sentiment

The tech giant on Wednesday surpassed Apple in market capitalization for the first time since 2019, becoming the second most valuable company in the world

International News via Reuters:

Alphabet hit a $4 trillion market valuation on Monday, as the Google parent’s sharpened artificial intelligence focus allayed doubts about its strategy and thrust it back to the forefront of the high-stakes race.

The tech giant on Wednesday surpassed Apple in market capitalization for the first time since 2019, becoming the second most valuable company in the world.

The milestones mark a remarkable change in investor sentiment for Alphabet, with its stock surging about 65% in 2025, outperforming its peers on Wall Street’s elite group of stocks, the so-called Magnificent Seven.

The stock has gained another 6% so far this year, and was last up 1.1%.

The shift was fueled by the company quelling concerns that it let an early AI advantage slip by turning a once-overlooked cloud unit into a major growth engine and drawing a rare tech investment from Warren Buffett’s Berkshire Hathaway.

Its new Gemini 3 model has also drawn strong reviews, intensifying pressure on OpenAI after GPT-5 left some users underwhelmed.

A Reuters report said that Samsung Electronics plans to double this year the number of its mobile devices with AI features powered by Google’s Gemini.

Google Cloud’s revenue jumped 34% in the third quarter, with a backlog of non-recognized sales contracts rising to $155 billion.

Renting out Google’s self-developed AI chips that were reserved for internal use to outside customers has also enabled the unit’s breakneck pace of growth.

Indicating the rising demand, The Information reported that Meta Platforms was in talks to spend billions of dollars on Alphabet’s chips for use in its data centers starting from 2027.

Meanwhile, the company’s dominant revenue generator – the advertising business – has largely held steady in the face of economic uncertainty and intense competition.

Alphabet is the fourth company to hit the $4 trillion milestone after Nvidia, Microsoft and Apple.

The stock has also benefited after a U.S. judge in September ruled against breaking up the company and allowing it to retain control of its Chrome browser and Android mobile operating system.

Reporting by Zaheer Kachwala, Shashwat Chauhan and Johann M Cherian in Bengaluru; Editing by Sriraj Kalluvila

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