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Global financial system must adapt to better serve economy, UN trade agency says

A UNCTAD report presented in London said shifts in financial markets now drive global trade almost as much as real economic activity

International News via Reuters:

The financial system risks undermining global trade if it fails to adapt to the economy’s needs, with developing countries likely to suffer the most, the UN Trade and Development Agency said on Tuesday.

A UNCTAD report presented in London said shifts in financial markets now drive global trade almost as much as real economic activity, with financial conditions increasingly determining global trade flows and shaping development prospects worldwide.

“Trade is not just a chain of suppliers. It is also a chain of credit lines, payment systems, currency markets and capital flows,” UNCTAD’s Secretary-General Rebeca Grynspan said in a news release.

The UNCTAD said global growth was expected to slow from 2.9% in 2024 to 2.6% in 2025 due to rising financial volatility but also geopolitical tensions.

More than 90% of global trade relies on bank financing, with dollar liquidity and cross-border payment systems remaining essential to international commerce.

“This deep reliance on financial channels makes trade closely linked to global financial and monetary conditions,” the report said. “A shift in interest rates or investor sentiment in a major financial centre can affect trade volumes worldwide.”

The report said although developing economies are expected to grow faster than advanced ones, they face higher financing costs, volatile capital flows, and rising climate-related risks, factors that constrain the fiscal and investment space needed to sustain growth.

The dollar remains central to global finance. While this offers stability in uncertain times, it also ties developing economies to financial cycles they have little power to influence, the agency said.

UNCTAD called for reforms to align trade and finance and ensure long-term stability, including modernising trade rules, reforming the international monetary system to limit damaging currency and capital-flow volatility, and strengthening capital markets to expand affordable long-term finance.

“What does genuine resilience require? Integrated policy frameworks that recognise links between trade, finance and sustainability,” Grynspan said. “Fundamentally, we cannot understand trade isolated from finance.”

Reporting by Catarina Demony; Editing by Sharon Singleton

St. George’s announces ‘Santa Comes to Town’ event

Town of St. George, Bermuda — December 2, 2025 — Once a year, children of all ages get to greet Santa and share their special wishes for gifts and goodwill. This year, on Saturday, December 13th, families are invited to celebrate the holiday in a traditional and festive way as Santa arrives on a big red fire truck entering the town square.

Mayor Quinell Francis, JP, states, “Traditions are very important to the Town. Our Santa Comes To Town event is an essential part of creating memorable and positive experiences for our youngest community members.” Taking place in King’s Square, the event will feature Santa’s arrival along with a cast of lifesized, fun-loving characters. To enhance the experience for families, the celebrations will include live performances by the majorettes: St. George’s Original Dancerettes, The Ex-Artillery Elite, Sui Generis Dance Team, and PHC Majorettes & Drum Corps. Bermuda’s oldest active Gombey troupe, Place’s New Generation Gombeys, will also perform.

Town Manager Candy-Lee Foggo adds, “Traveling to the Town of St. George is a family outing. That is why we include food and snack vendors such as Spot Restaurant, Bermuda Cup Cake Company, Duch Pops, Ashley’s Lemonade, and Food Hub, along with Toy Express and Paintz by Z for personal memorabilia and fun castles. The event will be lively and fun with DJ Donny on the turntables and PowerGirl as MC.”

In closing, Mayor Francis states, “We are pleased to have the support of Conyers Imports, BGA and Robertson’s in helping to make this event happen, and we cannot go without thanking our staff at the Corporation of St. George’s for all they do to ensure the town is ready for all the festive events.”

The event offers free entry, free parking, and serves as an outstanding showcase for Bermuda’s heritage and the many performers eager to spotlight their talents.

Plumbing problem closes TCD

Update, 5pm:

The Transport Control Department (TCD) location at North Street, Hamilton, will reopen tomorrow, 3 December, at 8:30 a.m. The plumbing issue that temporarily closed the building this afternoon has been resolved.

TCD apologises for the inconvenience.

The Transport Control Department (TCD) location at North Street, Hamilton, has temporarily closed due to plumbing issues in the building.

Signs advising of the closure have been posted at the building.

TCD apologises for the inconvenience. The department will issue an update on reopening.

Special ferries will serve the Christmas Walkabout

The Ministry of Tourism & Transport, Culture & Sport is pleased to share that a special ferry service will be running for anyone heading from Hamilton to St. George’s for the National Trust Walkabout!

The Department of Marine and Ports Services has arranged an evening ferry on Friday, 5 December 2025, to make getting to the event easier and more enjoyable.

The ferry leaves the Hamilton Ferry Terminal at 5:15 p.m., arriving in St. George’s around 6:15 p.m.

The return trip departs St. George’s at 9:15 p.m. and gets back to Hamilton at approximately 10:15 p.m.

Regular ferry fares apply, and boarding will be first-come, first-served, so plan to arrive early.

Minister of Tourism & Transport, Culture & Sport, Hon. Owen Darrell, JP, MP, shared his appreciation for the Marine and Ports team, saying, “A big thank-you to our ferry crews for making this service possible. We encourage everyone to take advantage of this convenient option to skip the traffic and enjoy a relaxing ride to St. George’s for a great night out.”

Report details widespread police failings over UK’s Hillsborough stadium disaster

The fans died in an overcrowded, fenced-in enclosure at the ground in Sheffield, northern England, at an FA Cup semi-final against Nottingham Forest on a sunny spring afternoon

International News via Reuters:

A major investigation into the 1989 Hillsborough soccer stadium crush which led to the deaths of 97 Liverpool supporters concluded on Tuesday that 12 mostly senior former police officers would have had cases to answer for gross misconduct.

The fans, many of them young, died in an overcrowded, fenced-in enclosure at the ground in Sheffield, northern England, at an FA Cup semi-final against Nottingham Forest on a sunny spring afternoon. It was one of the world’s worst stadium disasters.

Police at first blamed the incident on drunken fans, an explanation that was always rejected by survivors, relatives of the victims and the wider Liverpool community who spent years fighting to find out what had happened.

POLICE WERE TO BLAME

Later inquests and an independent inquiry absolved the fans of any responsibility, concluding the victims had been unlawfully killed and that the police were to blame.

However, no officer has been convicted in subsequent criminal cases with David Duckenfield, the police commander in charge at the match, found not guilty of manslaughter in 2019.

In a report which followed 13 years of investigation into 352 complaints, the Independent Office for Police Conduct (IOPC) echoed previous findings that fans had not caused the disaster, and found that 327 officer statements had been amended in the aftermath as police tried to deflect blame.

A review of events by the West Midlands Police force shortly after the incident was also flawed, with officers biased in favour of their colleagues, the IOPC found.

The IOPC said 12 officers, including South Yorkshire Police’s Chief Constable Peter Wright, would have had a case to answer for gross misconduct if they were still serving, and that 92 complaints about police actions were upheld or would have required individuals to explain their actions.

However, among the complaints it examined it found no records that campaigners and victims’ families had their phones bugged or had been put under surveillance, nor that there had been a wider establishment conspiracy.

Victims’ families expressed anger that no action could be taken against any of the officers because they have all retired.

“We’ll never get justice. Nobody’s ever going to go to prison for killing them,” Charlotte Hennessy, whose father Jimmy died in the crush, told reporters.

They said one of the named officers, Norman Bettison, who later became Chief Constable of Merseyside Police covering Liverpool, should be stripped of his knighthood.

“The unlawful killing of the 97 at Hillsborough 36 years ago is a stain on our nation’s history and today serves as a stark reminder of one of the most significant failings in policing the country has ever seen,” interior minister Shabana Mahmood said.

Reporting by Michael Holden, editing by Ed Osmond, Aidan Lewis

Fearing AI job losses, some young workers in Britain shift towards skilled trades

White-collar jobs are viewed as more vulnerable to disruption by AI and automation than manual labour

International News via Reuters:

In a labour market where artificial intelligence is quickly transforming and sometimes replacing jobs, student Maryna Yaroshenko wanted to find a future-proof career that offered long-term stability.

Like a growing number of young people in Britain and beyond, 18-year-old Yaroshenko opted for a skilled trade and is now training to become a plumber.

“That’s something AI won’t take over,” said Yaroshenko, who is originally from Ukraine and is studying at the City of Westminster College (CWC) in London.

White-collar jobs are viewed as more vulnerable to disruption by AI and automation than manual labour. In Britain, one in six employers expect the use of AI tools to allow them to reduce their headcount in the next 12 months, according to a survey last month conducted by the Chartered Institute of Personnel and Development, a professional human resources body.

Yaroshenko sees AI as a useful tool, but not one that could replace the hands-on nature of plumbing, which many shy away from due to its physical demands and a lingering stigma around trades such as electrical work, carpentry, and welding.

“We will definitely work with it (AI) but only a human can make those unique things AI cannot,” she said. “No AI can do plumbing, no AI can do real engineering, no AI can be an electrician.”

DEMAND FOR HANDS-ON COURSES GROWING

CWC, part of the United Colleges Group, is a further education and training institution rather than a university. Over the past three years, it has seen enrolments in its engineering, construction and built environment courses rise by 9.6%, a jump CEO Stephen Davis attributes partly to the growth of AI and also to student worries about the cost of university.

Some young people are opting against university to avoid the thousands of pounds of debt it can entail.

A survey of 2,600 adults carried out in August by the Trades Union Congress, the country’s biggest union umbrella, found that half of UK adults were worried about AI’s impact on their jobs, with those aged 25 to 35 particularly concerned.

“There’s a lot of anxiety among young people right now that their jobs are automated away,” said Bouke Klein Teeselink, a lecturer and AI researcher at King’s College, London.

Teeselink’s study at King’s College, published in October, found that AI-driven cuts in workforces disproportionately affect junior positions, making it harder for young people to get a foothold on the career ladder.

Other colleges are reporting similar trend shifts.

Angela Joyce, CEO of Capital City College, also in London, said it had seen strong growth in interest in construction, plumbing, hospitality, and other trades.

“This shows that more people are recognising the value of becoming skilled professionals,” Joyce said, adding that for some people, apprenticeships could offer better earning potential than degrees.

Davis said AI has pushed not only young people but also adults looking to switch careers to think more strategically. Many are seeking job security and higher wages, he said.

According to the Office for National Statistics, plumbers earn an average of 37,881 pounds ($50,169) per year, while skilled construction and building trades workers typically make around 35,764 pounds. This compares with an overall average salary of 39,039 pounds across all sectors.

Davis noted that skilled trades, however, often provide greater opportunities for people to run their own businesses, increasing their earning potential.

NEW BLOOD IN TRADES

Back in the plumbing workshop, Yaroshenko said another reason she sees herself staying in a skilled trade in the long term is that the current workforce is aging and demand for a new generation of skilled workers will stay high.

Yaroshenko added that she chose a college over university because she wanted to gain “real-life work” experience as quickly as possible.

Undergraduate enrolments at UK universities have slightly declined, falling 1.1% in 2023/24 from the previous academic year, the first annual decrease in nearly a decade, according to the Higher Education Statistics Agency.

Teeselink said it would be a while before robot plumbers took over, because it’s such “intricate work”.

Davis said that while robotics technology was evolving rapidly, students on courses such as plumbing were well-positioned.

“Sometimes plumbers have to put their hands down the toilet to unblock it … and I’m yet to meet a robot that does that for us,” Davis said.

($1 = 0.7551 pounds)

Reporting by Catarina Demony and Marissa Davison; Editing by Frances Kerry

Bermuda trios bow out despite Honore’s high game in China 

The Bermuda National Bowling Team faced tough competition in the Men’s Trios event at the International Bowling Federation (IBF) World Bowling Championships in China, with none of the Bermudian trios teams able to advance to the next round.

The highest ranking for Bermuda came from the trio of Michael Honore, Dayvon Tucker, and David Maycock, who secured a 17th-place finish in Men’s Trios Squad 1.

The team’s total pin count was 1393, with the performance highlighted by an excellent individual game from Michael Honore, who bowled a high of 266 pins in game six.

In Men’s Trios Squad 2, the team composed of Anthony Hayward, Dennis Joell, and Lamar Richardson finished 28th overall. The trio accumulated a total pin count of 1262, with their performance featuring a strong game from Anthony Hayward, who recorded his best game of the day with 206 pins.

The Bermudian team will now shift its focus to the remaining events at the World Championships.

A Japanese regional assembly is set to vote by December 22 on restarting nuclear plant

The plant was shut down after a powerful tsunami destroyed the Fukushima Daiichi reactor in 2011

International News via Reuters:

A Japanese regional assembly on Tuesday began deliberations on whether to partially restart the Kashiwazaki-Kariwa Nuclear Power Plant, the world’s largest, as the nation seeks to bolster its domestic power sources.

The plant, located around 300 kilometers (186 miles) northeast of Tokyo on the coast of the Sea of Japan, was shut down after a powerful tsunami destroyed the Fukushima Daiichi reactor in 2011. Both are operated by Tokyo Electric Power Co.

The peaceful coastal area encompassing Kashiwazaki city and Kariwa village, home to around 80,000 people, is gaining attention as the restart of the plant’s Unit No. 6 would be the first for TEPCO since the Fukushima disaster.

“The use of nuclear energy is essential in Japan, which has few resources,” said TEPCO President Tomiaki Kobayakawa on Monday as he gave top delegates from the Japan Business Federation a tour of the plant.

After the Fukushima disaster, Japan shuttered all 54 nuclear reactors in operation at the time, which left it heavily reliant on fossil fuel imports. Prime Minister Sanae Takaichi has said she supports more nuclear relaunches to strengthen energy security and address the cost of imported energy, which accounts for 60% to 70% of Japan’s electricity generation.

TEPCO has been improving safety at its nuclear power business, Kobayakawa said, as around 20 staffers – clad in thick blue hazmat suits – performed safety drills at the plant.

But Yukihiko Hoshino, a member of the Kashiwazaki city assembly, said local residents were concerned about the chances of another nuclear accident.

“The biggest worry is whether they will be able to evacuate,” he said.

He said there are still people who cannot return home to the Fukushima plant area.

The Niigata assembly’s final session of 2025 runs from Tuesday until December 22. TEPCO plans to restart the 1,356-megawatt Unit No. 6 in January, pending the assembly’s vote.

It is not clear when the assembly might vote on the plant’s restart. TEPCO was looking to restart Unit No. 7 later and possibly decommission the other five.

Of the 54 reactors that were in operation before the Fukushima incident, Japan has restarted 14 of the 33 that remained operable. On its own, Unit No. 6 could improve the supply situation for the energy-hungry Tokyo area by 2%, according to Japan’s industry ministry.

After years of decline, Japan’s power demand is set to grow thanks to data center expansions and AI-driven businesses.

TEPCO continues to pay compensation for the Fukushima Daiichi disaster.

Reporting by Joseph Campbell in Kashiwazaki, additional reporting by Kantaro Komiya in Tokyo; Writing by Katya Golubkova; Editing by Thomas Derpinghaus

UK police must act urgently to prevent sex crimes against women, says report

Authorities must ensure early intervention in cases of predatory behaviour, and investigate offences swiftly and effectively, the inquiry’s report added

International News via Reuters:

Police in Britain must act urgently to prevent sexual offences against women and girls and have shown a “troubling lack of momentum and ambition”, an inquiry into the case of a police officer jailed for murder four years ago stated on Tuesday.

Wayne Couzens was jailed for life in 2021 for abducting marketing executive Sarah Everard on a London street as she walked home, then raping and murdering her. The case shocked Britain and stirred protests over violence against women.

Couzens had abducted Everard using his police credentials and was linked to several cases of indecent exposure, which were not properly investigated, meaning police missed the chance to apprehend him.

The inquiry warned of a “troubling lack of momentum, funding and ambition for prevention work” by authorities and called for a fundamental shift of focus to programmes aimed at stopping known predators from offending and offenders from re-offending.

Authorities must ensure early intervention in cases of predatory behaviour, and investigate offences swiftly and effectively, the inquiry’s report added. It slammed current efforts as “fragmented, underfunded and overly reliant on short-term solutions.”

“This report should mark a turning point … the need for change is pressing and the evidence is clear,” said Elish Angiolini, who led the inquiry.

Britain’s interior minister Shabana Mahmood said the government would consider each of the inquiry’s recommendations and pledged to halve violence against women and girls within a decade.

“This is utterly unacceptable and must change,” Mahmood said in reaction to the report.

Around 900,000 people aged 16 and over in England and Wales experienced sexual assault in the 12 months to March, of which 739,000 were female, the Office for National Statistics said. The number of recorded sexual offences has increased over the last decade, it said.

The findings also highlighted a lack of progress on recommendations from the inquiry’s first report, published in February 2024, which called for a sweeping overhaul of police vetting procedures.

The inquiry had found serial failings in the vetting of Couzens meant that red flags were repeatedly missed, and he “could and should” have been stopped.

Reporting by Muvija M; Editing by Alexandra Hudson

Butterfield Mile trials open doors for Bermuda’s fastest runners

The Chubb Bermuda Triangle Challenge (CBTC) has announced that the highly anticipated Butterfield Mile Trials are scheduled to take place at the Flora Duffy South Field Stadium on Friday, December 12th, starting at 6 pm.

The trials serve as the gateway to the main event: the 2026 Butterfield Mile Invitational races, which will kick off the CBTC Weekend on Friday, January 16th, 2026.

The top 30 finishers in each age group category who complete the mile in under 8 minutes will be invited to the prestigious Invitational. Categories range from Ages 7-10 through to Adults 70+. Registration must be completed online by Friday, December 12th at 3 pm.

Race Director Heather Cooper encouraged participation, stating: “The Trials on December 12th are your chance to earn a place in one of Bermuda’s most electrifying races and showcase your talent.”

Newly elected BNAA President Jarita Vickers reflected on the event’s legacy: “It was always a night full of energy, nerves, and standout performances—an event that showed Bermuda’s remarkable depth of talent over the one-mile distance.” She strongly encouraged parents to register their children.

The CBTC is an international three-day running event that concludes with the Marathon and Half Marathon on Sunday, January 18, 2026.

White smashes 1500m record as BASA crowns age group champions 

The Bermuda Amateur Swimming Association (BASA) Winter Age Group Championships concluded with the announcement of the Age Group High Point Champions, highlighted by a long-standing record falling to Jorgia White and several athletes achieving crucial Carifta qualifying times.

The most significant performance came from Jorgia White, who broke the 1500m Freestyle record on Sunday morning. Her time of 18:35.90 surpassed the previous record which had stood since 2009. White was also crowned the highest-scoring swimmer in the 15 & Over Women division with 3,319 points.

The championships saw multiple athletes achieve qualifying times for the 2026 Carifta Swimming Championships, including Elanna Fulton, Colette Durkin, and Axel Wernbo.

The highest individual score of the meet belonged to Thomas Cechini, who secured 694 points during the 400m Freestyle. Logan Jones was the High Point Champion for the 15 & Over Men with 3,444 points.

In the junior ranks, champions included Isla Cooze (13-14 Women) with 2,529 points, Ethan Smith (13-14 Men) with 2,573 points, and Colette Durkin (11-12 Women) with 2,501 points. Maxwell Williams narrowly edged the 11-12 Men’s title by just four points.

Daley’s record-breaking performance powers Toronto sweep

First-year standout Elijah Daley delivered an exceptional day, winning multiple events and breaking his own record, as his University of Toronto Varsity Blues Men’s Swimming teammates swept the 2025 OUA Stratten Division Championships at Brock University.

Daley headlined the Varsity Blues’ dominant team victory. He won the Men’s 200 Short Course Meter Individual Medley (IM) in a new Personal Best time of 2:00.87, successfully breaking his own previous record of 2:01.85, which he set in 2023.

His success included another gold in the Men’s 50 Short Course Meter Butterfly (24.52 seconds) and a silver in the 50 SC Meter Breaststroke (28.60 seconds).

For his exceptional performance, Daley was named Male Swimmer of the Week. Varsity Blues head coach Byron MacDonald praised the new recruit: “He will be a player on the national scene and just as importantly his demeanor and attitude are great additions to the squad.”