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Trading Day: No pain, plenty gAIn for world stocks

The S&P 500 and many stock indexes around the world clocked fresh highs on Tuesday, propelled by optimism around AI, while copper prices also hit fresh records

International News via Reuters:

The S&P 500 and many stock indexes around the world clocked fresh highs on Tuesday, propelled by optimism around AI, while copper prices also hit fresh records, as investors brace for a flurry of U.S. jobs data later this week.

More on that below. In my column today I look at one of the motivating factors behind the U.S. military intervention in Venezuela: Washington’s desire to maintain the global dominance of the ‘petrodollar’.

If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today.1. Trump offers U.S. oil companies a poisoned chalice inVenezuela: Bousso 2. EXCLUSIVE-Venezuela, U.S. in talks to export Venezuelanoil to U.S., sources say 3. Fed should deliver big rate cuts this year, Miran tellsFox Business 4. China’s central bank pledges to cut RRR, interest ratein 2026 5. GRAPHIC-Markets’ 2026 watch list: Fed succession,political risk and AI of course

Today’s Key Market Moves* STOCKS: New highs for S&P 500, Dow, Europe, UK, Japan’sTopix, MSCI Asia ex-Japan, MSCI World. * SECTORS/SHARES: Nine of 11 U.S. sectors rise, withmaterials and healthcare up most. Energy -2.5%. Philadelphiasemiconductor index +2.7% to new high as tech leaps. AIG -8%,Tesla -4%, Chevron -4%. * FX: Dollar index +0.3%, Swissie biggest G10 decliner.Chilean peso biggest EM winner, +1%. * BONDS: U.S. yields rise 1-2 bps, euro zone yields fall2-3 bps. 2-year Schatz yield lowest in a month at 2.10%. * COMMODITIES/METALS: Oil -2%, but metals continue to fly- silver, platinum and palladium up ~6%, nickel +10% to fresh18-month peak, copper +2% to new high.

Today’s Talking Points

* Can AI go up a gear? It can

One might have expected the AI boom that drove Wall Street and world stocks higher in the second half of last year to cool at the start of this year. But it has gone up a gear, renewing the debate around its longevity.

A UBS note on Monday nicely encapsulates the bull case. Generative AI is fueling the largest infrastructure build-out in modern market history – $420 billion in data center investment last year and rising 35% to $570 billion this year, bringing the total since 2022 to $1.4 trillion. That sets the ground for earnings growth to kick in and drive 12% upside for the AI theme, UBS reckons. Too optimistic, or fair?

* A job lot

The next few days could be critical for the U.S. interest rate outlook, with the release of four U.S. employment data reports – private sector ADP jobs and “JOLTS” job openings on Wednesday, weekly jobless claims on Thursday, and non-farm payrolls on Friday.

The job growth figures and unemployment rate on Friday are the most important numbers. Economists expect fairly solid job growth and a dip in the unemployment rate. All told, the labor market picture that emerges will go a long way to determining Fed policy in the coming months.

* Copper-bottomed defense

Investors are shrugging off the U.S. military action in Venezuela and the heightened geopolitical risk that entails – world stocks are hitting record highs, oil and safe-haven gold are up a bit, but the Swiss franc is down. Yet scratch the surface, and “risk-off” – or “war” – trades are emerging.

In three trading days, European defense stocks are up 8%, the iShares aerospace & defense ETF is up 7%, and copper – the industrial metal likely to be lifted more than most by a global wave of defense spending – is soaring to new highs. These markets had a great 2025, but could have an even better 2026.

Trump’s Venezuela oil grab revives ‘petrodollar’ debate

There were likely many motives behind America’s capture and arrest of Venezuelan President Nicolas Maduro on Saturday, but one little-discussed factor could be the White House’s concerns about the waning global prominence of the “petrodollar.”

    Venezuela’s oil output is currently modest at barely 1 million barrels per day, but its reported reserves of around 300 billion barrels – 17% of the global stock – are the world’s largest. 

    President Donald Trump has made it clear that the U.S. is interested in tapping this enormous potential, stating that he plans to have U.S. energy majors revitalize the Latin American country’s flailing oil industry.

Keeping all this future production within the U.S. orbit could impact more than just energy markets, however, as it would create a lot more petrodollars – a tool that has long helped the U.S. maintain its dominance in the global financial system. 

RISE AND FALL OF THE PETRODOLLAR

    The term “petrodollar” was coined in the mid-1970s when the U.S. and Saudi Arabia agreed that global oil sales would be denominated in dollars, creating a new source of demand for the greenback and cementing U.S. strategic, economic, and political power.

    The period between 2002 and mid-2008 – when oil almost reached $150 a barrel – potentially marked the peak of the petrodollar’s powers.

    At that time, the U.S. was the world’s largest importer of crude, enabling oil-producing countries to amass huge trade surpluses, much of which was recycled back into the vast U.S. Treasury market. This put downward pressure on U.S. and therefore, global, bond yields and interest rates.

    Fast forward to 2026, and the environment looks very different. Thanks to the shale oil revolution, the U.S. is now the world’s largest oil producer and has been a net exporter since 2021. 

    Meanwhile, many producer nations like Saudi Arabia now use their oil-driven trade surpluses to plug their own widening domestic budget deficits.    

    Moreover, the rise of China’s economic power and new geopolitical rifts have reduced the percentage of the global oil trade denominated in dollars. There are no official figures, but it is estimated that as much as 20% of the world’s crude trade is now priced in currencies other than the dollar, such as the euro or Chinese yuan.

    The link between the dollar and oil has also shifted.

    Analysts at JPMorgan estimate that during the 2005-2013 period, a 1% appreciation of the U.S. trade-weighted dollar reduced the price of Brent crude by about 3%. In the 2014-2022 period, a 1% rise in the dollar reduced the price of Brent by just 0.2%. And last year, the dollar and oil both fell, rather than moving in opposite directions.  

    So whether one is looking at oil producers’ official holdings of Treasuries or oil revenues as a share of global capital flows, it is clear that the power of the petrodollar is on the decline.

TRUMP PUSHES BACK

    This mirrors the dollar’s slow but steady decline in global status over the past few decades. The greenback’s share of foreign currency reserves is currently the lowest in 25 years, and while it remains the preeminent currency of global trade, that position is starting to fray also.

    The Trump administration is pushing back, however. While the White House may want the dollar’s exchange rate to be lower, it is keen to maintain its dominance in global markets – and the recent events in Venezuela could be part of this wider effort.

Until Trump returned to office almost a year ago, there appeared to be little appetite in Washington to push back against the global tide of geopolitically driven diversification away from the dollar. 

    But the Trump administration has taken a stronger stance. It is promoting dollar-pegged “stablecoins” to strengthen the dollar’s role in digital payments and global finance more broadly. It has also threatened to impose tariffs on countries seeking to develop alternatives to the dollar, most notably the BRICS group of developing nations. 

Gaining a degree of control over the world’s largest proven oil reserves could be part of this effort, especially as it involves muscling out China and Russia – the Maduro regime’s allies – in the process.

    “The dollar is still the key currency in the oil market, and the U.S. is trying to preserve this,” says Hung Tran, nonresident senior fellow at the Atlantic Council.

    Richard Werner, professor of banking and economics at the University of Winchester, agrees that Washington’s actions in Venezuela are likely aimed at bolstering the petrodollar system.

    Ultimately though, he believes these extreme actions could be seen as a sign of “desperation” that could accelerate the decline of the petrodollar if BRICS nations and others in the “Global South” baulk at Washington’s use of military force to maintain currency dominance.

    That, of course, remains to be seen.

What could move markets tomorrow?* Australia inflation (November) * Germany unemployment (December) * Germany retail sales (November) * Euro zone inflation (December, flash) * Canada PMI (December) * U.S. “JOLTS” job openings (November) * U.S. ADP private sector employment (December) * U.S. services ISM (December) * U.S. Federal Reserve Vice Chair for Supervision MichelleBowman speaks

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Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

By Jamie McGeever; Editing by Nia Williams

TPG in talks to buy UnitedHealth’s Optum UK unit, Sky News reports

Optum’s UK business supplies electronic patient record systems to most of Britain’s general practitioners

International News via Reuters:

U.S. private equity firm TPG is close to acquiring UnitedHealth’s Optum UK business, in a deal worth between 1.2 billion pounds ($1.62 billion) and 1.4 billion pounds, Sky News reported on Tuesday.

The deal could be announced in the coming weeks but has not yet been finalised and could still fall apart, the report said, citing people familiar with the matter.

Optum’s UK business supplies electronic patient record systems to most of Britain’s general practitioners.

TPG could seek to combine Optum UK with Nextech, a U.S.-based electronic medical record software provider also owned by the PE firm, the report said.

UnitedHealth, Optum and TPG did not immediately respond to Reuters requests for comment.

Bank of America is advising on the latest sale process, which also drew interest from other buyout firms, including Blackstone, Sky reported.

The UK unit had last changed hands about two years ago, when UnitedHealth’s Optum acquired EMIS – a major supplier of GP software – in a 1.24 billion pound deal that was cleared by the UK competition regulator in 2023 after an in-depth Phase 2 probe.

($1 = 0.7401 pounds)

Reporting by Siddhi Mahatole in Bengaluru; Editing by Leroy Leo

Icy cold snap grips swathes of Europe, disrupting travel

All domestic rail services in the Netherlands were suspended early on Tuesday after an IT outage compounded disruption across the country’s rail network

International News via Reuters:

Freezing weather gripped swathes of Europe on Tuesday, with snow and icy conditions forcing the cancellation of hundreds of flights in the Netherlands and leading to the deaths of five people on French roads.

All domestic rail services in the Netherlands were suspended early on Tuesday after an IT outage compounded disruption across the country’s rail network. Trains began running in parts of the country after 0900 GMT, but problems persisted in the region around Amsterdam, a popular tourist destination.

High-speed Eurostar services to Paris from Amsterdam were either cancelled or running late. At the city’s Schiphol airport, over 400 flights were cancelled, most of them by the Dutch unit of Air France-KLM, as the winter weather crippled traffic at one of Europe’s main transit hubs for a fifth day.

Spanish national Javier Sepulveda was stuck at Schiphol trying to get back to his home in Norway for the third day. He said he started queuing at the KLM help desk at 6:30 a.m. on Tuesday and that six hours later he was still not close to reaching the front of the line.

“I can only describe the situation … as chaotic, insane,” the 39-year-old said.

SNOW FALLS OVER LARGE PARTS OF GERMANY AND FRANCE

In Germany, temperatures fell well below minus 10 degrees Celsius (14 degrees Fahrenheit) in the south and east early on Tuesday.

Large parts of the country were covered in snow, including regions close to the North Sea, where thick layers of snow have become increasingly uncommon. Meteorologists forecast a storm to hit the country on Friday, with heavy snowfall expected in the north and east.

In France, a prolonged cold snap saw freezing temperatures overnight after snow across the Paris region and large parts of the country on Monday. Six small airports were shut in the west and north of France but no cancellations were anticipated at Paris’ two main airports.

Transport Minister Philippe Tabarot urged people to travel as little as possible on the roads and to work from home, warning that thawed snow which subsequently re-froze overnight made for dangerous road conditions.

Five people have been killed in road accidents linked to the freezing conditions since Monday, BFMTV and other French media reported. In Paris, bus services were chaotic as services resumed following their suspension on Monday.

SNOW-LADEN TREE CRUSHES WOMAN IN SARAJEVO

Meanwhile, in the UK, the Meteorological Office on Monday said winter weather hazards could continue throughout the week for most of the country. It issued an amber warning, its second-most severe after red, for snow in central Scotland.

Heavy snow and rain have also caused havoc across the Western Balkans this week, closing roads, cutting power and causing rivers to flood. A woman died in the Bosnian capital Sarajevo on Monday after a tree overburdened with wet snow fell on her.

Reporting by Bart Meijer in Amsterdam, Louise Rasmussen in Paris, Thomas Seythal in Berlin and Daria Sito-Sucic in Sarajevo; Editing by Michael Perry, Richard Lough, Alexandra Hudson

‘We can provide more homes, faster’

Alternative construction methods could potentially allow Government to build up to twice as many units at the same cost as traditional methods, according to Chris Famous

Housing both locals and a potential influx of guest workers is a task facing Bermuda in 2026.

When it comes to Bermudians urgently needing homes, we’ve already heard about Government plans to install capsule units, starting at Boaz Island.

Chris Famous, PLP MP and Chair of the Bermuda Housing Corporation, added more to the discussion last week, citing the need to explore alternative construction methods for more permanent homes.

In an interview with our Gary Foster Skelton, it became clear why such action may be needed… the number of B.H.C’s current construction projects are nowhere near enough to meet the demand.

Mr Famous suggests that alternative methods, such as precast construction, could allow Government to build up to twice as many units at the same cost as traditional methods, in less time.

Some of those units could eventually be sold instead of rented, he says – but adds that there will be caveats to prevent someone ‘flipping’ such a property just to sell it to an investor.

WATCH the interview above…

Health Council welcomes GP visit coverage for HIP and FutureCare users

The BHC commending the additional service for government insurance policy holders said, “Prevention is where a health system shows its values.”

Full news release from the Bermuda Health Council:

The Bermuda Health Council welcomes and commends the Health Insurance Department (HID) for the inclusion of annual physical examinations for HIP and FutureCare members. According to recent reports, effective 1 January 2026, HID will be covering annual physicals without an out-of-pocket payment as part of its preventive care framework. This step reflects an important shift toward a health system that prioritizes early engagement, prevention, and long-term wellbeing by supporting people before illness becomes advanced, complex, or costly. 

International evidence consistently shows that regular engagement with primary care providers improves early detection, supports better management of health risks, and reduces avoidable complications and costs over time.

“Prevention is where a health system shows its values,” said a spokesperson for the Bermuda Health Council. “Making annual physicals accessible without the necessity for out-of-pocket payment encourages people, particularly men who may not routinely seek care, to engage earlier, have honest conversations about both physical and mental health, and address concerns before they become crises. In a country with an aging population, this is responsible system design that supports dignity, sustainability, and better outcomes.” 

An annual physical should feel like a meaningful conversation and a shared plan, not just a completed appointment. After an annual physical, patients should leave with a clear understanding of where their health stands and what comes next. This includes: 

  • Current health status, including indicators like blood pressure and weight 
  • Risk factors for common conditions such as heart disease, diabetes, or high cholesterol 
  • Appropriate screenings, based on age, sex, existing conditions, and why they matter 
  • Testing and follow-up, including what tests are checking for and how results will be communicated 
  • Next steps, such as lifestyle changes, referrals, or areas to focus on over the coming year 

In addition, mental health screening is an essential part of good preventive care. It is not a diagnosis or a judgement. Brief, routine check-ins help identify stress, anxiety, depression, or burnout early and contribute to reducing stigma around mental wellbeing. 

Not all annual physicals require the same level of assessment. Some visits are straightforward, while others involve more complex needs, additional time, or care coordination. Recognizing this difference ensures visits are appropriately structured and resourced so that individuals with greater health needs receive the attention and focus required. According to recent HID announcements, this principle will be reflected in the benefit structure, with reimbursement to providers set at $250 for standard visits and $350 for more complex visits, while maintaining access for all policyholders. 

Annual physicals are most effective when patients are informed and active participants in their care. Asking questions, raising concerns early, and understanding follow-up plans are central to prevention. Annual physicals are not an end in themselves. They are one of the tools that, when used well, help people stay healthier, reduce avoidable harm, and strengthen the health system as a whole. Now, without cost barriers for HID clients, it is important that individuals take advantage of this annual opportunity to better understand their health and take ownership of their outcomes. 

European leaders rally behind Greenland in face of renewed US interest

Trump has in recent weeks repeated that he wants to gain control of Greenland arguing that it is vital for the U.S. military, and that Denmark has not done enough to protect it

International News via Reuters:

Leaders from major European powers rallied behind Greenland on Tuesday, saying in a joint statement that the Arctic island belongs to its people, following renewed interest by U.S. President Donald Trump in taking over the Danish territory.

Trump has in recent weeks repeated that he wants to gain control of Greenland, an idea first voiced in 2019 during his first presidency, arguing that it is vital for the U.S. military, and that Denmark has not done enough to protect it.

A U.S. military operation over the weekend in Venezuela that seized its leader has further rekindled concerns that Greenland might face a similar scenario. Greenland has repeatedly said it does not want to be part of the United States.

“Greenland belongs to its people. It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland,” said the statement by leaders of France, Britain, Germany, Italy, Poland, Spain, and Denmark.

The leaders said security in the Arctic must be achieved collectively with NATO allies, including the United States.

“NATO has made clear that the Arctic region is a priority and European Allies are stepping up,” the statement said. “We and many other Allies have increased our presence, activities, and investments, to keep the Arctic safe and to deter adversaries.”

Polish Prime Minister Donald Tusk said on Tuesday that Denmark could count on the solidarity of all of Europe on the issue of Greenland.

“No member should attack or threaten another member of the North Atlantic Treaty Organisation. Otherwise, NATO would lose its meaning if conflict or mutual conflicts occurred within the alliance,” Tusk told reporters in Warsaw.

The Netherlands also fully supports the joint statement, Dutch Prime Minister Dick Schoof said on X.

To fend off U.S. criticism over Greenland’s defence capabilities, Denmark last year pledged 42 billion Danish crowns ($6.58 billion) to boost its military presence in the Arctic.

TRUMP AIDE SAYS WORLD ‘GOVERNED BY FORCE’

However, in comments likely to alarm Washington’s European allies, White House Chief of Staff Stephen Miller brushed aside concerns about Danish sovereignty and international law.

“You can talk all you want about international niceties and everything else. But we live in a world, in the real world, that is governed by strength, that is governed by force, that is governed by power,” Miller told CNN on Monday.

“There is no need to think or even talk about this in the context of a military operation. Nobody is going to fight the U.S. militarily over the future of Greenland,” Miller added.

Just hours after Saturday’s Venezuela operation, Miller’s wife, Katie Miller, posted a map of Greenland painted in Stars & Stripes on X, accompanied by the text “SOON”.

Greenland, the world’s largest island with a population of just 57,000 people, is not an independent member of NATO but is covered by Denmark’s membership of the Western military alliance.

The island’s strategic location between Europe and North America makes it a critical site for the U.S. ballistic missile defence system. Its mineral wealth also aligns with Washington’s ambition to reduce reliance on Chinese exports.

Greenland’s Prime Minister Jens-Frederik Nielsen said on Monday that his government was seeking to strengthen ties with the United States and that citizens should not fear an imminent U.S. takeover.

($1 = 6.3831 Danish crowns)

Reporting by Jacob Gronholt-Pedersen, additional reporting by Soren Sirich Jeppesen and Bart MeijerEditing by Terje Solsvik and Gareth Jones

Smith set for senior swan song as Clayton State eye indoor success

Bermudian middle-distance specialist Sancho Smith is preparing for a grueling indoor campaign as Clayton State University officially released their 2025-26 track and field schedule.

Smith, a senior accounting major from Warwick, enters his final indoor season with a reputation as one of the most decorated student-athletes in the Lakers’ recent history. A former Saltus Grammar School student, Smith has built a formidable resume in Georgia, balancing elite athletic performance with consistent academic excellence.

His trophy cabinet already includes four All-Conference selections—most notably for his contributions to the 4x400m and Distance Medley Relay squads—alongside a string of Academic Achievement awards. On the track, he remains the school record holder in the 600m, a mark he shattered at last year’s KMS Invitational with a time of 1:22.23.

The Lakers’ path to the post-season begins in earnest on January 18th, when the team returns to the familiar surroundings of the Birmingham CrossPlex for the KMS Invitational. The venue has historically been a happy hunting ground for Smith, who secured an 800m podium finish there just twelve months ago and broke his 600m record on that same track.

Following the trip to Birmingham, the schedule intensifies in February with a three-meet sprint. The team will return to Alabama on February 6th for the UAB Green and Gold Invite, followed quickly by the Bulldog Open on Valentine’s Day, hosted by Samford University. These meets will serve as the final tuning phase before the season’s centerpiece.

The indoor campaign will culminate on February 23rd at the Peach Belt Conference Indoor Track and Field Championships. Hosted by Embry-Riddle Aeronautical University in Gainesville, Florida, the meet offers Smith a final opportunity to add an indoor conference title to his legacy. After helping the Distance Medley Relay team to a third-place finish in 2025, the senior will be eyeing the top step of the podium to close out his collegiate indoor career.

Swiss bar in deadly blaze had missed six years of safety checks

Swiss authorities have been searching for explanations for the blaze, which tore through the “Le Constellation” bar in the early hours of January 1

International News via Reuters:

The Swiss bar where 40 people were killed in a fire at the New Year had not been subjected to any annual safety inspections since 2019, the mayor of the ski resort of Crans-Montana said on Tuesday.

Swiss authorities have been searching for explanations for the blaze, which tore through the “Le Constellation” bar in the early hours of January 1. Most of the victims were teenagers.

“We are profoundly sorry. We did not have an indication that the checks had not been done,” Crans-Montana Mayor Nicolas Feraud told reporters, adding that bars in the town are meant to have such inspections each year.

Prosecutors have said the fire was likely caused by sparkling candles igniting the ceiling of the bar’s basement, which was covered in a foam material used for soundproofing.

SPARKLER CANDLES BANNED

Feraud said the “Le Constellation” had passed its last inspection in 2019. The soundproof foam on its ceiling was considered acceptable at the time, and a fire alarm was not required due to the bar’s size.

“There were never any checks on this soundproofing foam. Our security agents did not consider it necessary,” Feraud said.

He said the law does not oblige authorities to verify such materials, but “the courts will have to determine whether this should have been done regardless”.

Authorities are investigating the two people who ran the bar on suspicion of crimes including homicide by negligence. On Sunday, police said circumstances did not currently merit them being put under arrest, and they did not see a flight risk.

Feraud said authorities had closed another venue run by the pair and that sparkler candles that likely triggered the blaze have now been banned inside the town’s venues.

TWO EXITS

In addition to the 40 dead, at least 116 people were injured. The large number of victims has led to questions about whether the bar was overcrowded.

Feraud said its maximum capacity was 200 people, with emergency exits designed to cater for 100 people on each of its two levels. He said he did not know if the downstairs exit was working that night and that investigators would determine this.

Inspections were also conducted at the bar in 2016 and 2018, authorities said. Before then, the building that houses it sat in a different municipality, Feraud said, pointing to Crans-Montana’s creation in 2017 from a merger of four municipalities.

Reporting by Emma Farge in Geneva and Umit Bektas in Crans-Montana, Writing by Miranda Murray, Editing by Friederike Heine, Dave Graham, Peter Graff

EU summons farm ministers to secure Mercosur deal backing

Italy and France last month dashed hopes for a December deal, saying they were not ready to support it until farmer fears of an influx of cheap commodities from Mercosur, such as beef and sugar, were resolved

International News via Reuters:

The European Union has convened EU agriculture ministers for last-minute talks on Wednesday to convince Italy and other wavering member countries to sign up to a contentious free trade deal with South American bloc Mercosur.

Italy and France last month dashed hopes for a December deal, saying they were not ready to support it until farmer fears of an influx of cheap commodities from Mercosur, such as beef and sugar, were resolved.

All 27 EU agriculture ministers have been invited to the meeting at the Commission, the EU presidency holder Cyprus said on Tuesday, although it was not clear yet how many would attend.

European commissioners for agriculture, trade and health are expected to give reassurances over future funding for farmers under the EU’s Common Agricultural Policy including a 6.3 billion euro ($7.4 billion) crisis fund in the next EU budget.

The Commission’s move to merge regional cohesion funds and CAP money in the next seven-year budget alarmed farming nations.

They will also review import controls, including permissible maximum levels of pesticide residues, two EU diplomats said.

“It is a critical moment to discuss demands from farmers,” one of the diplomats said, adding that the Commission was expected to send a letter to members setting out income support for farmers.

WOOING EU MEMBERS FOR SUPPORT

The EU executive, supported by EU-Mercosur proponents such as Germany and Spain, is seeking to garner the broad majority of 15 EU members representing 65% of the EU population required to authorise the EU signature, possibly as early as January 12.

They say the accord, which has been 25 years in the making and would be the EU’s largest in terms of tariff reductions, is vital to boosting exports hit by U.S. import taxes and to reduce reliance on China by securing access to critical minerals.

With Poland and Hungary opposed to the deal and France critical, the position of Italy will be a key determinant of whether the deal can be signed. A vote is expected on Friday.

The Commission had held discussions with member states over the past two weeks and the bloc was on track to sign the agreement soon, a spokesperson for the executive said.

Italy is not opposed to the deal, two Italian sources told Reuters on Tuesday, but wanted assurances – notably on reciprocity – so that imported farm products meet EU health and environmental standards. These were due to be discussed on Wednesday.

A second EU diplomat said Italy was not yet fully on board.

($1 = 0.8538 euros)

Reporting by Philip Blenkinsop, Julia Payne in Brussels, Giselda Vagnoni in Rome; editing by Mark Heinrich

Forum to introduce jury system to schoolchildren

Move is part of continuing efforts to elicit feedback on modernising the jury system

The Ministry of Justice today announced that the public consultation on modernising Bermuda’s jury system has been extended to 31 January 2026, providing residents with additional time to share their views on the proposed reforms.

The consultation, which was originally scheduled to conclude on 31 December 2025, will continue to be hosted on the Government’s public consultation platform at [forum.gov.bm]forum.gov.bm, where members of the public can review the proposals and submit feedback online.

Attorney-General and Minister of Justice, Sen. the Hon. Kim Wilkerson, JP, said the decision to extend the consultation period reflects the Government’s commitment to broad and meaningful public engagement, including focused outreach to young people.

“Extending the consultation period allows us to ensure that a wide range of perspectives are considered,” said Minister Wilkerson.

“I would also like to thank everyone who has participated in the consultation so far, including those who attended parish council meetings and those who took the time to engage with us through public forums and media discussions. Their contributions are valued and form an important part of this process.”

As part of the extended consultation period, the Ministry will host a dedicated engagement session at CedarBridge Academy later this month.

The session will focus on introducing senior school students to the role and importance of juries and inviting their perspectives on how Bermuda’s jury system can continue to evolve.

Minister Wilkerson noted that directly engaging young people represents a unique and forward-looking element of the consultation.

“The feedback we have received to date—from public meetings, online submissions and radio discussions—has already been insightful, and this continued engagement will help shape meaningful change.

“We believe that engaging students at this stage allows us to better understand how young Bermudians view civic responsibility and participation, and those insights can help inform a reformed jury selection system that reflects the society it serves,” Minister Wilkerson added.

Members of the public are encouraged to visit [forum.gov.bm]forum.gov.bm to review the consultation materials and submit their feedback before the revised closing date of 31 January 2026. Feedback received will help inform final policy decisions.

Betschart surges into contention at Junior Orange Bowl

Bermudian teenager Oliver Betschart has surged up the leaderboard at the 62nd Junior Orange Bowl International Championships, carding a brilliant three-under-par 68 to move into a tie for 11th place.

Competing at the historic Biltmore Golf Course in Coral Gables, the 17-year-old showcased remarkable consistency during his third round to put himself firmly in the top half of the elite international field. Following a steady start to the tournament, Betschart’s moving-day performance was characterized by safe play and clinical putting, as he navigated the challenging Florida layout with 15 pars and three crucial birdies.

The result leaves Betschart at one-under-par for the championship heading into the final 18 holes. His statistical breakdown across the three days highlights a resilient approach to the Biltmore’s grainy greens; in total, he has racked up 10 birdies and 38 pars. While a mid-round triple bogey earlier in the week threatened to derail his momentum, he has largely avoided trouble, recording just four bogeys and a single double bogey throughout the 54 holes played thus far.

The Junior Orange Bowl is widely regarded as one of the most prestigious events in junior golf, with a winner’s list that includes the likes of Tiger Woods and Sergio Garcia. Betschart will be looking to break into the top ten during today’s final round as he aims to follow in the footsteps of the island’s most decorated golfers on the world stage.