Exploring the evolving landscape of Bermuda’s hospitality and tourism industry
In the inaugural episode of Think Pink, host Jasmine Patterson engages with Philip Barnett – President of the Island Restaurant Group, to explore the evolving landscape of Bermuda’s hospitality and tourism industry. They discuss the anticipated renaissance in tourism, the impact of COVID-19, the importance of local ingredients, and the challenges of attracting talent in the hospitality sector. Mr. Barnett emphasizes the potential for career growth within the industry and the need for a supportive environment for local workers, while also addressing the implications of minimum wage changes and gratuity practices in restaurants.
President Donald Trump lavishly greeted bin Salman at the White House on Tuesday and defended the crown prince over the 2018 killing of Washington Post journalist Jamal Khashoggi
International News via Reuters:
U.S. lawmakers are set to meet with Saudi Crown Prince Mohammed bin Salman at the U.S. Capitol on Wednesday on the second day of his visit to the United States, aimed at touting stronger-than-ever economic and security ties with Washington while brushing off scrutiny over his human rights record.
President Donald Trump lavishly greeted bin Salman at the White House on Tuesday and defended the crown prince over the 2018 killing of Washington Post journalist Jamal Khashoggi by Saudi agents, which U.S. intelligence agencies concluded he approved.
Considered an outcast in the aftermath of the killing, bin Salman’s rehabilitation was rubber stamped this week. One example showcasing that was Secretary of State Marco Rubio, who as a U.S. senator in 2019 denounced the crown prince as a “gangster”, sitting a few steps away during the Oval Office meeting, where Trump repeatedly said it was “an honor” to be friends with the Saudi leader.
That marks a sharp contrast to Washington’s view of the Saudi leader during Trump’s first term, as members of Congress became angry with Riyadh’s role in the devastating civil war in Yemen and human rights record, fueled by Khashoggi’s murder at a Saudi consulate in Turkey.
“He is reckless, he’s ruthless, he has a penchant for escalation, for taking high risks, confrontational in his foreign policy approach and I think increasingly willing to test the limits of what he can get away with the United States,” Rubio at the time said. There were multiple and persistent calls from members of Congress for accountability.
In 2019, Congress passed a resolution demanding an end to military support for the Saudi-led coalition waging war in Yemen, although there were too few votes to overturn Trump’s veto.
Although memories of that time may have faded, bin Salman’s reception on Capitol Hill on Wednesday was likely to be far more subdued than the welcomes given to other world leaders. Aides said he would meet with some members of Congress on Wednesday morning, but the meeting was not announced.
Neither Republican House Speaker Mike Johnson nor Republican Senate Leader John Thune planned the type of press opportunity, with photos and brief remarks, often held when world leaders visit the Capitol.
A handful of lawmakers have even criticized bin Salman this time around.
Senator Tim Kaine of Virginia, where Khashoggi lived, blasted Trump after the Oval Office meeting with bin Salman, known as MBS.
“Instead of rolling out the red carpet for MBS and leveraging the presidency for private hotel deals, Trump should be demanding accountability on behalf of Khashoggi’s Virginia-based family and pressing Saudi Arabia to advance U.S. security interests. Unfortunately, this is just the most recent example of Trump placing his personal financial interests above the interest of the American people,” he said in a statement.
Bin Salman, who agreed in the meeting to increase the kingdom’s investments in the U.S. to $1 trillion from $600 billion, is also attending an investment conference in Washington on Wednesday that will include CEOs from major U.S. companies. The two sides also announced new agreements on arms sales, civil nuclear cooperation and artificial intelligence after the meeting.
Reporting by Patricia Zengerle and Simon Lewis; Editing by Humeyra Pamuk and Lincoln Feast
Shadow Minister highlights danger of dark clothing and presses government to take improving lighting and maintenance of roadways seriously
Statement from Shadow Tourism and Transport Minister, Dwayne Robinson:
With the days now shorter and the darkness setting upon us earlier, it is incumbent of me to remind cyclists, runners and walkers to wear reflective wear when exercising on the roads.
I have received numerous concerned reports of exercisers being narrowly missed because they were wearing dark clothing yet lacked reflective gear or lights.
Prevention is better than cure and ultimately, everyone should be able to use Bermuda’s roads safely. To motorists, I implore you to exercise caution as you navigate roads and please, slow down. It’s better to arrive late than not to arrive at all.
I implore the Government to take improving lighting and maintenance of our roads and railways seriously and ensure they are well lit and safe for use.
The regulator’s “consolidated tape” is intended to give investors and companies a clearer view of liquidity across UK equity markets and support listings
International News via Reuters:
Britain’s Financial Conduct Authority (FCA) said on Wednesday its equities trade tape detailing pre- and post-trade data will be operational by 2027, as it launched a consultation on the design and scope of the regime.
The regulator’s “consolidated tape” is intended to give investors and companies a clearer view of liquidity across UK equity markets and support listings. The FCA has proposed including post-trade data and attributed best bid and offer prices from multiple UK trading venues.
After two years of operation, the regulator will review the tape’s effectiveness and consider whether to adjust the level of pre-trade data.
Simon Walls, interim executive director of markets at the FCA, said that diverse trading options in UK markets made it harder to assess liquidity as a whole.
“The tape seeks to tackle this challenge by delivering more straightforward access to equity market data from across venues,” he said.
The U.S. has long operated tape aggregating for stock and bond prices, while the European Union plans to select a provider for its equities tape by year-end.
EuroCTP, a joint venture of European exchanges including Deutsche Boerse and Euronext, is the only confirmed bidder for ESMA’s tape.
The FCA has chosen a provider for its bond tape, but that rollout faces delays due to a legal challenge.
The proposals were welcomed by some in the industry.
Goldman Sachs’ Eleanor Beasley, head of market structure, said the tape would bring “long-needed transparency” and play a “meaningful role in attracting capital and driving future growth”.
London Stock Exchange Group has previously said there was no clear use case for a tape containing pre-trade data, as that information was already provided by a number of vendors.
A person familiar with the group’s thinking said that position had not changed.
Reporting by Yadarisa Shabong in Bengaluru and Phoebe Seers in London; Editing by Anil D’Silva and Ed Osmond
Laurence Des Cars also told a National Assembly hearing that ties with Paris police would be tightened with the installation of an “advanced police station within the Louvre’s estate”
International News via Reuters:
France’s Louvre Museum will install 100 external cameras by the end of 2026 as part of measures to tighten security after last month’s spectacular heist, its director said on Wednesday.
Laurence Des Cars also told a National Assembly hearing that ties with Paris police would be tightened with the installation of an “advanced police station within the Louvre’s estate”.
The daylight October 19 robbery, in which four robbers made off with jewels worth $102 million, has raised doubts over the credibility of the world’s most-visited museum as a guardian for its myriad works.
While investigators have charged four suspects accused of involvement in the raid, the treasures have yet to be recovered.
Officials have admitted there was inadequate security camera coverage of the outside walls of the museum and no cover of the balcony involved in the break-in.
After the robbery, French officials said the Louvre would introduce extra security, including anti-intrusion devices and anti-vehicle ramming barriers on nearby public roads, by the end of the year.
A report published last month by France’s public audit body, known as the Cour des Comptes, said the museum’s inability to update its infrastructure was exacerbated by excessive spending on artwork.
Des Cars, however, told lawmakers: “I fully take responsibility for these acquisitions, which are the pride of our country and our collections. Work at the Louvre should not be seen as competing with the enrichment of national collections.”
Reporting by Dominique Vidalon, Alessandro Parodi; Editing by Alex Richardson
Police advise motorists to avoid Brunswick Street as officers process the scene
Image: Bermuda Police Service
Press statement from the Bermuda Police Service:
Shortly after 6:00 a.m. this morning, 19 November 2025, police and other first responders attended a road traffic collision involving a motorcycle and a van in the area of Brunswick Street, City of Hamilton.
The male motorcyclist was transported to King Edward Memorial Hospital for treatment of injuries sustained in the accident. The severity of his injuries is unknown at this time.
Police are currently processing the scene out of an abundance of caution. Motorists traveling through the city in the vicinity of the collision are advised to use alternative routes until the scene has been cleared.
Three years after ChatGPT’s debut, investors are increasingly uneasy that the AI boom has outrun fundamentals
International News via Reuters:
The fate of Wall Street’s staggering bets on artificial intelligence will rest squarely on Nvidia on Wednesday when the chipmaker reports results, with investors seeking signs that bubble worries are overblown.
Three years after ChatGPT’s debut, investors are increasingly uneasy that the AI boom has outrun fundamentals. Some business leaders have noted that circular deals – where one partner props up another’s revenue – add to the bubble risk.
A few large investors have dumped some of their AI holdings, stoking fears that a market selloff is imminent. Tech billionaire Peter Thiel’s hedge fund sold its entire stake in Nvidia in the third quarter, as has SoftBank CEO Masayoshi Son, although he has plowed those returns into a massive bet on OpenAI.
Doubts have pushed Nvidia shares down 7.9% so far in November, after a 1,200% surge in the past three years. The broader market has declined 2.5% this month.
“With every quarter that goes by, Nvidia earnings become more important in terms of clarification on where AI is moving and how much spending is being done,” said Brian Stutland, chief investment officer of Nvidia investor Equity Armor Investments.
Notwithstanding bubble fears, demand for Nvidia’s chips remains strong, with cloud giants including Microsoft investing billions in AI data centers.
CHIP DEMAND IS STRONG, BUT VALUE IS DEPRECIATING
Nvidia is likely to report a more than 56% jump in its fiscal August-October quarter revenue to $54.92 billion, according to data compiled by LSEG, a far cry from the triple-digit growth it witnessed for many quarters as it faces tougher comparisons. The company has surpassed expectations for the past 12 quarters, though the delta has shrunk.
Nvidia CEO Jensen Huang said last month the company has $500 billion in bookings for its advanced chips through 2026.
“The old Wall Street adage ‘one stock does not a market make’ – that would be incorrect here,” said Neil Azous, portfolio manager of the actively managed Monopoly ETF that holds Nvidia shares. “Nvidia has the ability to make a market.”
But Nvidia’s chips are central to “Big Short” investor Michael Burry’s bet against the company. Burry, who recently shut his hedge fund, argued that large cloud providers were artificially boosting earnings by extending the depreciable life of AI compute gear, such as Nvidia’s chips.
Nvidia now updates chips annually, making older models appear obsolete faster, even as the resale market thrives.
MORE COMPLEX PROCESSES, MARGIN PRESSURE
For now, Nvidia is struggling to supply enough chips.
While contract chipmaker TSMC is adding advanced-packaging capacity to overcome a key bottleneck and plans to keep expanding through 2026, Nvidia is also rolling out more complex and larger systems that bundle graphics processors, central processing units, networking gear and a range of cooling options.
That, in addition to the ongoing ramp-up of its top-of-the-line Blackwell chips and upcoming Rubin processors, has burdened margins. Nvidia is expected to report that its adjusted gross margin shrunk nearly 2 percentage points from the year-ago period to 73.6% in the third quarter. Net income likely grew 53% to $29.54 billion.
Investors are watching to see how big AI deals including Nvidia’s $100 billion investment in OpenAI and $5 billion stake in chipmaker Intel will affect its balance sheet. Nvidia had cash and cash equivalents of $11.64 billion as of July 27.
China is another overhang. Nvidia cannot ship its most advanced chips there under U.S. export curbs and Huang has said there are “no active discussions” on selling Blackwell in the market despite speculation of a possible deal for a scaled-down version.
Nvidia stripped China from its forecast for advanced processors last quarter.
Reporting by Arsheeya Bajwa and Aditya Soni in Bengaluru; Editing by Sayantani Ghosh and Anil D’Silva
Nearly 30 pastors and staff belonging to Zion Church, an unofficial “house church” not sanctioned by the government, were detained by police nationwide in mid-October
International News via Reuters:
Eighteen leaders of a major Chinese underground church were formally arrested on Tuesday, a Christian NGO advocate told Reuters, meaning they will eventually face trial and a potential prison sentence of up to three years.
Nearly 30 pastors and staff belonging to Zion Church, an unofficial “house church” not sanctioned by the government, were detained by police nationwide in mid-October, Reuters earlier reported, in the biggest crackdown on Chinese Christians since 2018.
The group, which includes church founder Pastor Jin Mingri, is being held in detention centres in the southern city of Beihai.
Beihai police could not be reached by telephone for comment. China’s ministry of public security did not immediately respond to a faxed request for comment.
Five people were released in October and a further four support staff were released on bail around November 10, Grace Jin, the daughter of Jin Mingri, told Reuters.
The remaining 18 detainees were formally arrested and charged with the crime of “illegally using information networks”, said Bob Fu, the founder of Christian NGO ChinaAid, who is in close contact with relatives of the detained pastors and Zion Church leadership.
The crime carries a prison sentence of up to three years.
After a criminal suspect is detained in China, their formal arrest marks the beginning of a criminal investigation leading to trial, a process which could take over a year in complex cases.
Jin, 56, was able to meet his lawyer on October 14, after the case started receiving foreign media attention, Grace Jin said. She previously told Reuters that her family was worried about the health of her father, who requires medication for diabetes, and the detainees’ access to lawyers.
U.S. Secretary of State Marco Rubio condemned the detentions and called for the immediate release of the group last month.
The crackdown on Zion Church came a month after new rules from China’s top religion regulator banned unauthorised online preaching or religious training by clergy, as well as “foreign collusion”.
China has more than 44 million Christians registered with state-sanctioned churches, the majority Protestant, official figures show. But tens of millions more are estimated to be part of illegal “house churches” that operate outside the control of the ruling Communist Party, according to thinktanks and NGOs.
Zion Church, with about 5,000 regular worshippers across nearly 50 cities, rapidly added members during the COVID-19 pandemic through Zoom sermons and small in-person gatherings. The church was founded by Jin, also known as Ezra, in 2007, after he quit as a pastor for the official state-controlled Protestant church.
A graduate of the elite Peking University, Jin converted to Christianity after witnessing the 1989 Tiananmen crackdown, a spokesperson for the church has said.
In 2018, police shut down its church building in Beijing, during a crackdown on major house churches. Earlier this year, police temporarily detained 11 Zion Church pastors, a church spokesperson previously told Reuters.
Reporting by Laurie Chen; Editing by Raju Gopalakrishnan
In the meantime, the yen hit a 10-month low against the dollar after a meeting between Bank of Japan Governor Kazuo Ueda and key government ministers on Wednesday
International News via Reuters:
Sterling edged lower on Wednesday after British consumer price inflation fell in October as expected, raising expectations the Bank of England will cut rates next month, while the dollar edged higher ahead of Nvidia’s earnings release and key U.S. data.
In the meantime, the yen hit a 10-month low against the dollar after a meeting between Bank of Japan Governor Kazuo Ueda and key government ministers on Wednesday, including Finance Minister Satsuki Katayama, who said government was closely watching the market “with a high sense of urgency”.
Britain’s consumer price inflation fell to 3.6% in October, from September’s joint 18-month high of 3.8%, as expected by the BoE and economists polled by Reuters, official figures showed on Wednesday.
BOE EXPECTED TO CUT RATES IN DECEMBER
The data cemented expectations that the BoE could cut interest rates in December.
“With the (UK) labour market softening more than expected, GDP growth weaker than the BoE projected, and underlying inflation tracking a little lower than BoE expectations, we think Governor (Andrew) Bailey will feel more confident about cutting Bank Rate below 4%,” said Deutsche Bank chief UK economist Sanjay Raja.
Sterling was down 0.17% against the dollar at 1.3121, briefly touching its lowest since Friday, when British markets were whipped around as speculation swirled around the highly-anticipated November 26 budget.
Elsewhere, investors struggled for direction, while U.S. agencies were clearing a backlog of data after a prolonged government shutdown.
The dollar index, which measures the greenback’s strength against a basket of six currencies, edged 0.15% higher at 99.75.
The yen eased 0.4% to 156.15, its lowest against the dollar since January.
The dollar had strengthened alongside demand for Treasury bonds even as odds of a Federal Reserve rate cut fell, which likely indicated safe-haven buying, analysts said.
“We’re heading into very important releases in the U.S., so naturally there’s a bit of wait-and-see momentum, although the momentum seems to be in favour of the dollar,” said Francesco Pesole, FX strategist at ING.
“I think this mostly reflects a combination of safe-haven flows, to some extent, and then the markets remain a bit sceptical about the possibility of the Fed pricing in December.”
Fed funds futures are pricing an implied 47% probability of a 25-basis-point cut at the December 10 meeting, compared with a 42.4% chance a day earlier, according to the CME Group’s FedWatch tool.
U.S. President Donald Trump renewed his attacks on Federal Reserve Chair Jerome Powell on Tuesday, saying “I’d love to get the guy currently in there out… but people are holding me back”. Powell’s term as Fed chair is up in May.
PIVOTAL MOMENT
FX investors were also keeping eyes on earnings reports as chip giant Nvidia was due to release its third-quarter results later in the day.
Global equity markets have been hit hard this week, with the S&P 500 on a four-day losing streak on concerns about valuations of AI stocks.
“Today we have this Nvidia earnings, so those will be probably the pivotal moment for equities,” ING’s Pesole said.
“It’s not a very common thing to happen, that one earnings release has major impacts on the FX market. If those are extremely good or extremely bad, then obviously it will be a very meaningful impact,” he said.
U.S. JOBLESS CLAIMS SURGE
Adding to the sense of market anxiety, initial jobless claims data released on Tuesday showed the number of Americans on jobless benefits surged between mid-September and mid-October.
Another test will come with the delayed release of Thursday’s non-farm payrolls release for September.
Amid the rout in risk assets, the Australian dollar fell 0.4% to $0.6485, while the kiwi slipped 0.5% to $0.56300.
Reporting by Joice Alves and Ozan Ergenay in London; additional reporting by Gregor Stuart Hunter in Singapore; Editing by Alex Richardson
Amazon had contested the lawfulness of the provision in the EU’s Digital Services Act that specifies which online platforms are labeled as “very large”
International News via Reuters:
The European Union’s General Court on Wednesday dismissed a request by Amazon to scrap its designation as a platform subject to stricter requirements under EU online content rules.
Amazon had contested the lawfulness of the provision in the EU’s Digital Services Act that specifies which online platforms are labeled as “very large”. Those companies are required to do more to tackle illegal and harmful content on their platforms.
The EU’s second-highest court said the EU was right in considering that marketplaces exceeding the threshold of 45 million users could be included in that group, as they too could pose a risk to society.
Amazon said it was disappointed in the ruling and that it intended to launch an appeal.
“The Very Large Online Platform status was designed to address systemic risks posed by very large companies with advertising as their primary revenue and that distribute speech and information,” it said in a statement.
“The Amazon Store, as an online marketplace, does not pose any such systemic risks; it only sells goods, and it doesn’t disseminate or amplify information, views or opinions.”
The court in its ruling, however, said the risks were posed by “disseminating illegal content or infringing fundamental rights, including consumer protection”, and said interference was justified.
“The obligations imposed on those platforms … are intended to prevent those risks, even if they entail significant financial burdens for those platforms,” it added
The court also dismissed all other arguments by the U.S online retail giant.
Reporting by Bart Meijer and Alessandro Parodi, Additional reporting by Supantha Mukherjee; Editing by Ros Russell and Ed Osmond
The Ministry of Justice today reminded the public that the consultation on modernising Bermuda’s jury system remains open and that residents still have time to provide their views on proposed reforms.
The next public meeting on Bermuda’s jury reform consultation will take place at 5:30 p.m. on Wednesday November 19, at the Paget Gospel Chapel, 44 Middle Road, Paget, held jointly with the Paget Parish Council and Warwick Parish Council.
The Ministry of Justice encourages residents to attend this session, share their views, and take advantage of the opportunities to engage directly on the proposed reforms.
The Ministry will continue hosting additional parish meetings in the weeks ahead and encourages all residents to participate in shaping the future of Bermuda’s jury system.
In addition to the public meetings, the Minister will be a guest on HOTT 107.5 FM at 7:30 a.m. on Wednesday November 19, 2025 and on The Daily Hour show on Thursday December 4, 2025 at 8:00 a.m.
The public is encouraged to tune in to both interviews to hear more about the consultation, have their questions answered and join the conversation on this important national issue.
The consultation, which runs until December 31, 2025, invites the public to review proposals that would update how juries are constituted, selected and compensated. Members of the public are encouraged to visit forum.gov.bm to read the consultation documents and provide online feedback.
Attorney-General and Minister of Justice, Sen. the Hon. Kim Wilkerson, JP, described the first meeting as a meaningful step toward the Ministry’s reform goals.
“The insights shared will help shape practical reforms that make jury service more inclusive and reflective of Bermuda’s community.
“This next meeting with the Paget and Warwick councils is equally important; it provides another opportunity for us to listen, to engage directly with the public and to ensure that any legislative changes truly serve the people they affect.”
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