Japanese and French politics help sterling to gain on euro and yen
Britain-specific news was fairly thin on the ground, but the euro dropped to 86.74 pence, its lowest since September 18
International News via Reuters:
The pound benefited from weakness elsewhere on Monday, reaching its strongest in nearly four weeks on the euro, and an over one-year top on the tumbling Japanese yen, with both currencies hit by domestic political developments.
Britain-specific news was fairly thin on the ground, but the euro dropped to 86.74 pence, its lowest since September 18, after France’s new Prime Minister Sebastien Lecornu and his government resigned on Monday, just hours after Lecornu had announced his cabinet line-up.
Euro/sterling is the most traded currency pair globally not involving the U.S. dollar, and was caught up in the selloff in French stocks and bonds.
Traders are waiting to see what President Emmanuel Macron’s next steps will be.
“The President may be forced to announce a new dissolution (of Parliament) in the coming days, which could increase upward pressure on French interest rates and the underperformance of the CAC 40, with a significant risk of tensions spreading to other assets such as French banks, the euro and peripheral spreads,” said Michaël Nizard, head of multi-asset and overlay, at Edmond de Rothschild Asset Management in emailed comments.
Sterling yen is less heavily traded, but it too was in focus on Monday, with the pound reaching as high as 202.23 yen, its highest since July last year.. It was last up 1.6% at 201.81.
The yen weakened sharply after Sanae Takaichi, a proponent of an expansionist economic stance and loose monetary policy, won the presidency of Japan’s ruling party and is now set to become the country’s prime minister.
That caused traders to push back bets on Bank of Japan rate hikes, weakening the currency.
Versus the dollar, the pound was down 0.15% at $1.345.
British economic data is thin on the ground this week, but a raft of data next week will set the tone for Bank of England policy for the rest of this year.
Traders are also increasingly focused on late November’s UK budget.
Reporting by Alun John; Editing by Sharon Singleton
Door opened to floating solar projects
Bermuda is turning to the sea to explore its energy future. The Regulatory Authority of Bermuda (RA) has launched an open call for developers to explore floating solar technology, an innovation that could see solar panels installed on water, delivering clean power without taking up valuable land.
With space on the island at a premium, traditional large-scale solar farms are difficult to accommodate. Floating solar presents a practical alternative, making use of designated marine areas to generate up to 10 megawatts of renewable energy. If realised, the project would mark the first of its kind in Bermuda and could play an important role in meeting the island’s target of sourcing 85 percent of its electricity from renewables by 2035.
“Floating solar is an emerging technology with real potential for Bermuda,” said Nigel Burgess, Director of Energy at The RA and a chartered engineer. “It gives us the ability to capture the island’s strong solar resource without competing for limited land. The systems are designed to withstand marine conditions, and if successful, could help diversify our energy mix while keeping costs and reliability in focus. This is about applying engineering innovation to Bermuda’s unique challenges.”
The RA’s request for Expressions of Interest invites qualified developers to propose how floating solar could be deployed locally, from technical design and site assessments through to construction and operation. The process will also assess cost impacts, helping determine whether floating solar can deliver affordable, clean energy for consumers.
This initiative is part of Bermuda’s broader energy transition, which includes examining alternative generation sources identified under the Integrated Resource Plan. The RA will manage a staged and competitive selection process to ensure transparency, value for money, and adherence to regulatory standards.
Interested developers must submit their Expressions of Interest by 4 November 2025. Full details, including submission requirements, are available at www.ra.bm or by contacting electricity@ra.bm.
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About the Regulatory Authority of Bermuda (RA)
The Regulatory Authority of Bermuda is an independent regulatory body that oversees various sectors, including the Electricity, Electronic Communications, and Submarine Communication Cables sectors. The RA is committed to promoting competition, safeguarding the interests of residents and consumers, stimulating the Bermudian economy, promoting innovation, and fulfilling any additional functions as specified by sectoral legislation.
Vision Bermuda appeals for support
New programs and upcoming events highlight need for funding and awareness
Vision loss affects more than 2,000 people in Bermuda, but one charity is working to make sure that sight loss doesn’t mean loss of independence.
In the above report, we shine a spotlight on Vision Bermuda as they prepare for upcoming awareness and fundraising events.
The charity will mark World Sight Day this Thursday, October 9th, under the theme ‘Love Your Eyes.’
It’s a global call to action reminding us to prioritise our eye health with regular screenings and early detection.
Eye health may not always feel urgent, but the charity warns it should never be pushed to the back of the line, especially considering conditions like diabetes and glaucoma.
In recognition of World Sight day on Thursday, October 9, Vision Bermuda warmly invites the community to an Open House at their Beacon House location from 11:00 am to 3:00 pm. The event will offer guests the opportunity to:
- Explore Vision Bermuda’s welcoming facility, thoughtfully designed with visual impairments in mind
- Learn about the wide range of services, support, and resources available to individuals living with sight loss
- Take part in interactive experiences offering a brief, eye-opening glimpse into the world of visual impairment
- Discover and purchase adaptive equipment designed to enhance independence and quality of life
Throughout the event, Theresa McMordie, Vision Bermuda’s Vision Rehabilitation Specialist, will be on site to demonstrate equipment and answer questions about available programmes and services. Ms. McMordie expressed “Every day at Vision Bermuda, I see the strength and resilience of people living with sight loss. World Sight Day is not just about raising awareness of eye health, it’s about reminding our community that with the right support, no one has to walk this journey alone. For me, it’s a privilege to help people rediscover independence, confidence, and joy in their lives.”
Erica Ingemann, Executive Director of Vision Bermuda, emphasises the importance of a people-centred approach to eye health: “Individuals should always be at the core of everything we do, there is simply no other philosophy. The person comes first; everything else falls into place after. We are here to see you, to support you, and to be your eyes when you need us most.” Ingemann continues with a heartfelt message to the community: “I urge everyone to take their eye health seriously. Parents, please get your children’s eyes tested and follow all recommendations. Adults, make your own eye care a priority, and please, do not let finances stop you from seeking the help you need. Come and talk to us; together, we’ll find a way. Love your eyes, and let them remind you of all there is to love in you.”
OBA announces shadow cabinet reshuffle
Four MPs portfolios were reshuffled ahead of the next sitting of parliament, this Friday
The Opposition One Bermuda Alliance has announced a portfolio re-shuffle today.
The shake up comes after new leader Robert King was appointed at the beginning of last month.
Former party leader Jarion Richardson will be responsible for Cabinet and Digital Innovation.
Craig Cannonier, another ex-OBA leader, will take the shadow Health portfolio… Mr. Cannonier will also serve as party whip.
Linda Smith will be responsible for Public Works and MP Robin Tucker will be responsible for Youth, Social Development and Seniors.
Shadow MPs Michael Fahy, Scott Pearman, Dwayne Robinson, Ben Smith, Vance Campbell, Dr. Doug DeCouto and party leader Robert King will retain their respective portfolios.
The opposition party has also announced new appointments in the upper house in recent weeks including, Senators Victoria Cunningham, Tarik Smith and Dion Smith.
Opposition leader Robert King previously thanked out-going senators Marcus Jones and Maurice Foley for their service.
Bank of England’s Bailey says UK should take ‘pragmatic’ approach to AI
Bailey made the remarks in the text of a speech released by the central bank ahead of its delivery at a dinner in Edinburgh to promote investment in Scotland
International News via Reuters:
British authorities should take a “pragmatic and open-minded approach” to applications of artificial intelligence and seek to solve risks it poses rather than just highlight them, Bank of England Governor Andrew Bailey said on Monday.
“We must understand what it can and cannot deliver, and where it can create broader issues that will need to be tackled. But I would say to the alarmists that it is all of our responsibility to solve such issues rather than just broadcast them,” he said.
Bailey made the remarks in the text of a speech released by the central bank ahead of its delivery at a dinner in Edinburgh to promote investment in Scotland.
Bailey said there was a need for a supportive domestic environment to help investment in AI and other projects that needed time to pay off, and said he supported government efforts to encourage pension funds to invest more in British businesses.
($1 = 0.7421 pounds)
Reporting by David MillikenEditing by William Schomberg
Britain’s Jews resort to ever-tougher security measures after Manchester attack
Last Thursday, a British man of Syrian descent drove a car into pedestrians and then began stabbing people on Yom Kippur outside a synagogue in north Manchester
International News via Reuters:
With the Jewish holiday of Sukkot approaching on Monday night, Rabbi Ben Kurzer wishes he did not need high security for his congregants to say their prayers after last week’s attack at a synagogue in Manchester left two Jewish worshippers dead.
“Sadly, for a long time now, we have been slowly upping our security more and more,” Kurzer said, as the light streamed in from the stained glass windows in his London synagogue.
“We would love to live in a country where we didn’t have to do that quite as much.”
Last Thursday, a British man of Syrian descent drove a car into pedestrians and then began stabbing people on Yom Kippur, the holiest day of the Jewish calendar, outside a synagogue in north Manchester. Police said later they accidentally shot one of the two victims killed in the attack.
Many of Britain’s Jews say they are unfairly targeted due to the solidarity that most of the community has with Israel, especially after the Hamas-led attack on Israel two years ago. This has spilled over into attacks on Jews amid protests by pro-Palestinian and other groups against Israel’s war in Gaza.
As a consequence, Jewish communities have had to spend more money to bring in extra private security companies, and rely on a volunteer network while waiting for more support from the government, community officials say.
RISE IN ANTISEMITIC INCIDENTS
Children have been stopped from playing outside during services in some synagogues, many of which are already surrounded by barbed wire and security spikes.
“Enhanced security is necessary, but it shouldn’t really need to be,” said Jonathan Roodyn, who is Rabbi of another London community.
“Rather, the issues that British society faces need to be addressed…There needs to be a comprehensive plan of education to ensure that violence, that terror, that fear and intimidation are not part of our daily experience.”
Britain’s CST charity, which says it protects British Jews from terrorism and antisemitism, recorded 1,521 antisemitic incidents across the UK in the first half of 2025, the second-highest total ever reported in the first six months of any year.
Recent incidents have included attacks on Jewish school children and faeces being smeared on Jewish sites in London including a synagogue, community groups say.
“We want to be able to do the things that everyone else can do, without fear, without intimidation, and without threats,” Roodyn said.
Attacks against Jews and Jewish targets have risen worldwide since Israel began its assault on Gaza after the 2023 Hamas-led attacks. Israeli Prime Minister Benjamin Netanyahu has long complained of growing antisemitism in many European countries.
Around 300,000 Jews live in Britain, comprising 0.5% of the UK’s total population and the world’s fifth largest Jewish community, according to data from the independent Institute for Jewish Policy Research. London and Manchester are home to the biggest communities.
BARBED WIRE, SPIKES AND CCTV
Richard Verber, with the United Synagogue charity which represents some 60 communities in Britain and is among the biggest cluster of Jewish institutions, said the association had to spend 1 million pounds ($1.34 million) annually on security measures that it would rather use to foster Jewish life.
“No other faith group, as far as I know, has to have a level of protection in its places of worship, in its schools, in its community buildings; the Jewish community does.”
“We’re talking fences, we’re talking spikes on rails, we’re talking barbed wire, we’re talking CCTV, we’re talking about them all being plugged into local police forces.
“It is the basic duty of any government to protect its citizens. And that failed (in Manchester) in the most awful way.”
British Prime Minister Keir Starmer last week promised Britain’s Jews: “I will do everything in my power to guarantee you the security you deserve”.
London’s Metropolitan Police Commissioner Mark Rowley said the force had increased visible patrols and protective security around synagogues, Jewish schools and community centres.
“We are with you … You are not alone,” Rowley wrote in the Jewish Chronicle on Sunday.
Even with these assurances, many British Jews were mistrustful, said Nicole Lampert, a journalist and columnist on British Jewry.
“Our synagogues, our schools and our nurseries are already like fortresses … And I do not trust them (the government) to keep us safe,” she said. “The danger remains frighteningly high.”
($1 = 0.7448 pounds)
Reporting by Jonathan Saul, additional reporting by Sarah Young, editing by Rachel Armstrong and Ros Russell
Bitcoin hovers near all-time high
The rally in bitcoin since the start of the year has been underpinned by flows from institutional investors
International News via Reuters:
Bitcoin hovered near its record high on Monday as the world’s largest cryptocurrency by market value continued to benefit from strong demand from investors.
The rally in bitcoin since the start of the year has been underpinned by flows from institutional investors, friendlier policies of the administration of U.S. President Donald Trump, and increasing connection with global financial systems.
Bitcoin climbed above $125,000 for the first time on Sunday, rising to $125,653.32. It was last up 1.66% to $124,861.70, on course for the second straight session of gains. It is has gained more than 33% this year.
Reporting by Chibuike Oguh in New York; Editing by Chizu Nomiyama
Curtis and Tucker dominate to win Leon Wilson Memorial Regatta
Maxwell Curtis and his crew Wesley Tucker dominated the Comet Class fleet to claim the championship title at the Leon Wilson Memorial Regatta in St. George’s Harbour.
Competing over a four-race series with five boats, Curtis and Tucker showcased superb boat speed and consistency, winning three of the four races to finish with a low-score total of just 3 points and secure the victory.
Veteran pair Dale Brangman and his crew Treasurer Nanette sailed consistently well to take the runner-up spot. They finished with 5 points after achieving one race win and three second-place finishes across the day.
Rounding out the podium in third place were Lorenzo Lambert and Zane Hendrickson, whose solid performance earned them a final score of 10 points.
The regatta successfully honored the memory of Leon Wilson while delivering a highly competitive day of sailing for the Comet Class fleet.
WHO estimates at least 15 million teenagers use e-cigarettes worldwide
In its first global estimate of e-cigarette use, the WHO said more than 100 million people worldwide are now vaping, including at least 86 million adults, mostly in high-income countries
International News via Reuters:
At least 15 million people aged 13 to 15 use e-cigarettes globally, with young people on average nine times more likely to vape than adults in countries with data, the World Health Organization said on Monday.
In its first global estimate of e-cigarette use, the WHO said more than 100 million people worldwide are now vaping, including at least 86 million adults, mostly in high-income countries.
The figures come as global tobacco use continues to decline, with the number of tobacco users falling to 1.2 billion in 2024 from 1.38 billion in 2000.
As ever-stricter regulations help cut tobacco use, the industry has turned to alternative products such as vapes to help offset sales declines.
Tobacco companies say they target adult smokers, aiming to help them quit and reduce the harm of traditional tobacco.
But e-cigarettes are driving a “new wave of nicotine addiction”, said Etienne Krug, director of the WHO department for health determinants, promotion and prevention.
“They are marketed as harm reduction but, in reality, are hooking kids on nicotine earlier and risk undermining decades of progress.”
Governments and health authorities are grappling with how to balance the potential benefits and risks of e-cigarettes, namely uptake by new nicotine users.
On the other hand, some research has found e-cigarettes are effective at helping smokers quit.
A 2024 review of evidence by Cochrane, a non-profit network of health researchers, found that smokers were more likely to succeed in quitting with e-cigarettes than traditional patches or gum.
But it also warned more data was needed and the longer-term health effects remained unclear.
The decline in traditional tobacco use varied sharply by region. Male tobacco prevalence in Southeast Asia nearly halved to 37% in 2024 from 70% in 2000, accounting for more than half the global decline.
Europe now has the highest tobacco prevalence globally at 24.1%, with its women engaging in the world’s highest female tobacco use at 17.4%.
The WHO warned that nearly one in five adults worldwide still use tobacco products, and called for stronger enforcement of tobacco control measures and regulation of new nicotine products such as vapes.
Reporting by Emma Rumney; Editing by Clarence Fernandez
Betschart and MacFarlane crowned mixed foursomes champions
Youth swept the board at the Bermuda Mixed Foursomes Championships, with the prodigious pairing of Darina Betschart (13) and Lewis MacFarlane (12) claiming the Championship Flight Gross title at the par-54 Turtle Hill Golf Club.
The young duo demonstrated impressive composure, firing an outstanding 3-under par 51 in the final round to secure first place by a convincing four shots. Their victory caps a successful summer that saw both golfers compete at the Optimist, Caribbean Junior Championships, and the North America Cup.
Overnight leaders Linda Down and Jarryd Dillas finished as Gross Runners-Up, while Cynthia Semos and Mikus Ming rounded out the top three.
The Net Division was decided by countback (retrogression), with Ann Symonds and Walter Jackson taking the top net honors, narrowly beating out the husband-and-wife team of Oceana and Andrew Yates.
The sister and brother pair of Lianna and Rishi Aggarwal were crowned champions in the First Flight competition with a two-round total of 122. The event showcases the formidable talent rising through Bermuda’s junior golf ranks.
Students awarded scholarships
Four Bermuda College students have been awarded full scholarships from Athene for the 2025-2026 school year. Each scholarship covers the full costs of the student’s associate degree program, including books and other essential expenses.
This year’s Athene Bermuda College Scholarship recipients and their respective area of study are:
- Chris Pitcher, Business Administration
- I’Aura Golding, Business Administration
- Ny’Kie Da Costa-Zuill, Computer Information Systems
- Sarah Marshall, Business Administration
The Athene Bermuda Scholarship supports students pursuing associate degrees in fields that provide pathways into the insurance industry and international business operations. The scholarship is eligible to Bermudian students attending Bermuda College who excel academically and demonstrate financial need.
“Athene’s continued investment in our students opens doors that might otherwise remain closed,” said Dr. David Sam, President of Bermuda College, “By lifting the financial burden, Athene allows our students to fully dedicate themselves to learning, growth and future success. We are very grateful for this partnership. Congratulations to this year’s recipients.”
Since launching in 2019, the Athene Bermuda College Scholarship has been awarded to 45 students, including this year’s recipients.
“Our partnership with Bermuda College continues to make a real difference in students’ lives,” said Natasha Scotland Courcy, CEO and General Counsel of Athene Life Re. “We are honored to be playing a role in helping these students succeed academically and work toward the bright futures ahead of them.”
For more information about Athene, please visit www.athene.com.
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About Athene
Athene is the leading retirement services company with over $400 billion of total assets as of June 30, 2025, and operations in the United States, Bermuda, Canada, and Japan. Athene is focused on providing financial security to individuals by offering an attractive suite of retirement income and savings products and also serves as a solutions provider to corporations. For more information, please visit www.athene.com.
