The CMA has set a deadline of November 11 to reach its Phase 1 decision
International News via Reuters:
Britain’s Competition and Markets Authority (CMA) on Tuesday launched a merger inquiry into Global Payments’ $24.25 billion acquisition of Worldpay assessing whether the deal could potentially lessen competition in UK markets.
The CMA has set a deadline of November 11 to reach its Phase 1 decision.
Reporting by Ankita Bora in Bengaluru
Russia’s oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine’s drone attacks on critical export ports and refineries
International News via Reuters:
Oil prices rose over 1% on Tuesday as markets weighed the possibility that Russian supplies may be disrupted by Ukrainian drone attacks on its ports and refineries, and awaited the Federal Reserve’s decision on U.S. interest rates.
Brent crude futures were up 83 cents, or 1.2%, at $68.27 a barrel at 11:04 a.m. ET (1504 GMT). U.S. West Texas Intermediate crude futures were up $1.03, or 1.6%, to $64.33 a barrel.
Russia’s oil pipeline monopoly Transneft has warned producers they may have to cut output following Ukraine’s drone attacks on critical export ports and refineries, three industry sources said.
Ukraine has intensified attacks on Russia’s energy infrastructure as talks to end their conflict have stalled.
“An attack on an export terminal like Primorsk is aimed more at limiting Russia’s ability to sell its oil abroad, affecting export markets,” said JP Morgan analysts.
“More importantly, the attack suggests a growing willingness to disrupt international oil markets, which has the potential to add upside pressure on oil prices,” they said.
Goldman Sachs estimates that the Ukrainian attacks have taken out about 300,000 barrels per day of Russian refining capacity in August and so far this month.
The situation in Russia warrants close monitoring as it could lead to more tightness in U.S. diesel markets, StoneX energy analyst Alex Hodes said.
“Should Russian refineries suffer substantial damage, it could increase demand for U.S. diesel exports and potentially sustain the inverted forward curve,” Hodes said.
U.S. diesel futures were last up 1.9%, outpacing both WTI oil and U.S. gasoline futures.
U.S. Treasury Secretary Scott Bessent on Monday said the government would not impose additional tariffs on Chinese goods to encourage China to halt purchases of Russian oil unless European countries hit China and India, the biggest buyers of Russian crude, with duties of their own.
Also on investors’ radar is the U.S. Federal Reserve’s September 16-17 meeting, at which the bank is widely expected to cut interest rates.
While lower borrowing costs typically boost fuel demand, analysts were cautious on the health of the overall U.S. economy.
Markets were also factoring in the likelihood of crude inventory declines in the U.S. last week, with official data expected on Wednesday at 1430 GMT.
A Reuters poll on Monday showed analysts expected U.S. crude oil and gasoline stockpiles to have fallen last week, while distillate inventories likely rose. [EIA/S]
Repoting by Shariq Khan, Ahmad Ghaddar, Anjana Anil and Trixie Yap; Editing by Joe Bavier, Mark Potter and David Gregorio
Veteran golfer Dwayne Pearman has taken the lead in the Gosling’s Moongate Tour’s Order of Merit after five rounds of competition. Pearman now stands at the top of the standings with 2,542.50 points.
He holds a narrow lead over Chris Smith, who is just behind in second place with 2,520.00 points. Kenny Leseur rounds out the top three, holding third with 2,412.50 points.
The race for the top spot was tightened by the latest round at the Ocean View Golf Course, where a three-way tie for first place occurred. Jamie MacMillian, Oliver Betschart, and Nick Jones all shot impressive rounds of 1-under par 69s, sharing the win and earning valuable points.
With more events still to come, the battle for the championship remains wide open.
Acting Assistant Commissioner of Police (ACOP), Sherwin Joseph and Detective Inspector, Leroy Mathurin, have both successfully completed a recently concluded Financial Action Task Force (FATF) Assessor Training programme, delivered by the Caribbean Financial Action Task Force (CFATF) in Port of Spain, Trinidad and Tobago.
The program provided participants with the necessary knowledge and principles, to better understand and assess the characteristics of a country’s effectiveness in combating money laundering, terrorist financing, proliferation financing and targeted sanctions.
This training will prove beneficial to ongoing efforts of the Bermuda Police Service to further develop investigative techniques in relation to asset forfeiture and addressing financial crime and enhancing Bermuda’s reputation as a sound financial jurisdiction.
To that end, it will also assist with reviewing aspects of Bermuda’s own processes, procedures and readiness for its upcoming Mutual Evaluation.
This is an assessment of a country’s measures to combat money laundering and the financing of terrorism and proliferation of weapons of mass destruction. It includes an assessment of a country’s actions to address the risks emanating from designated terrorists or terrorist organisations.
Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday
International News via Reuters:
Britain’s largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its British plants to more than three weeks.
The luxury carmaker, owned by India’s Tata Motors, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations.
Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday. It has told many of its 33,000 staff to stay at home.
“We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time,” JLR said in a statement on its website.
There is concern about the financial impact of the stoppage on JLR’s British supply chain, which includes many smaller companies and supports 104,000 jobs across the country. The Unite trade union has warned of job losses and said government support would be needed given the lengthy stoppage.
British newspaper The Telegraph reported on Monday that the production shutdown could last until November, although JLR said this was not its position.
JLR has said the incident has affected some data, although it remains unclear whether it involved customers, suppliers or internal systems.
The breach was the latest in a string of cyber and ransomware attacks targeting companies around the world. In Britain, household names including Marks & Spencer and Co-op have fallen victim to increasingly sophisticated breaches.
The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models.
In July, JLR reported an 11% drop in quarterly sales, partly due to a temporary pause in U.S. shipments after tariffs were imposed. Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5%-7%, down from 10%, citing ongoing trade uncertainty.
Reporting by Sam Tabahriti in London and Pushkala Aripaka in Bengaluru; Editing by Sarah Young, Sherry Jacob-Phillips and Alex Richardson
Gabriella Cecchini has continued her impressive form, winning the Women’s 5,000 Meters Varsity race at the 32nd Frankfort Cross Country Invitational in Indiana.
Representing Mercersburg Academy, Cecchini crossed the finish line with a winning time of 19:07.2 on the Frankfort High School Course. Her performance saw her comfortably win the women’s event, showcasing her strong start to the season.
In the Men’s 5,000 Meters Varsity race, her brother Joseph Cecchini also delivered a solid result for Mercersburg Academy. He finished ninth overall with a time of 18:57.1, securing a top-10 finish in a competitive field.
Bermudian boxers Adrian Roach and Saundre “Dash” Simmons are both preparing for international bouts in Mexicali, Baja California, on October 4. The pair will compete on the same card at the Gimnasio de Mexicali, marking a significant step for both fighters.
For Adrian Roach, the fight will be his first international professional bout. The Bermudian will face Mexico’s Victor Emmanuel López [2-3] in a four-round welterweight contest. Roach will be looking to get his professional career off to a strong start on foreign soil.
Meanwhile, Saundre “Dash” Simmons, who has been making a name for himself in the light heavyweight division, is set to return to the ring against Mexican Francisco Rios. Simmons has climbed into the top 20 of the light heavyweight rankings in the United States and will be seeking to extend his unbeaten record in a six-round bout. Rios’s record stands at 16 wins, 16 losses, and 3 draws.
Bermudian goalkeeper Tomas Mello has capped a sensational debut for St Mary’s University (SMU) by being named the SMU Men’s Athlete of the Week for the period ending September 14, 2025.
The award, sponsored by Freeman’s Little New York Halifax, recognizes Mello’s heroic performance in his first-ever appearance for the team. A walk-on player who only joined the squad this month, Mello was unexpectedly called into action due to injuries to the team’s other goalkeepers.
He seized the opportunity, making a remarkable eight saves to secure a crucial 2-1 victory over the Dalhousie Tigers in Atlantic University Sport (AUS) action. Mello’s debut performance at Wickwire Field was instrumental in the win, earning him Player of the Match honours in addition to his weekly award.
The young goalkeeper is a product of Bermuda’s FC Bascome’s academy, where he played for 13 years, and also trained at the Bermuda Goalkeeper Academy under coach Dashun Cooper.
Draghi, who delivered a far-reaching report on EU competitiveness at the European Commission’s request 12 months ago, said the EU’s growth model was “fading fast”
International News via Reuters:
The European Union is falling further behind global rivals on growth and governments are failing to grasp the urgency to act, former European Central Bank president and Italian prime minister Mario Draghi said on Tuesday.
Draghi, who delivered a far-reaching report on EU competitiveness at the European Commission’s request 12 months ago, said the EU’s growth model was “fading fast”, vulnerabilities were mounting and there was no clear path to financing necessary investments.
Draghi said the bloc had come up with ambitious plans, but it was moving ahead too slowly and governments had “not grasped the gravity of the moment”.
“To carry on as usual is to resign ourselves to falling behind. A different path demands new speed, scale and intensity. It means acting together, not fragmenting our efforts,” he told an audience of EU officials, including European Commission President Ursula von der Leyen, in Brussels.
SQUEEZED BY U.S. TARIFFS
Draghi addressed a number of challenges facing the European Union, now squeezed by U.S. tariffs and a trade deficit with China that has expanded by 20% since December 2024.
In AI, the European Union was building gigafactories and expanding data centre capacity, but gaps were clear. The United States produced 40 large foundation models – learning based on large datasets – last year, China 15 and the EU just three.
Draghi said more action was needed to address barriers to scaling up in Europe, regulation on the use of data and adoption of AI by industry.
Energy prices, such as natural gas nearly four times higher than in the United States, were also a constraint on technology, with AI electricity demand set to rise 70% in Europe by 2030.
Europe had structural problems to fix, but the main step taken by EU countries had been to subsidise prices for temporary relief.
“The more we push reforms, the more private capital will step up and the less public money we will need. Of course, this path will break long-standing taboos, but the rest of the world has already broken theirs,” Draghi said.
Reporting by Philip Blenkinsop and Tierney Kugel
Inflationary pressures in Europe, recession fears and trade tensions by Donald Trump’s tariffs, have dampened the confidence of employers and job seekers considering permanent job moves
International News via Reuters:
British recruiter SThree warned on Tuesday that a weak jobs market will keep profit below market expectations in its next financial year, sending its shares down 28% to their lowest in nearly 17 years.
Inflationary pressures in Europe, recession fears and trade tensions triggered by U.S. President Donald Trump’s tariffs, have dampened the confidence of employers and job seekers considering permanent job moves.
While contract hiring in the U.S., its second-largest market, showed improvement and contributed to net fees in the third quarter, the company said macroeconomic uncertainty, particularly in Europe, had persisted longer than anticipated.
SThree, which specialises in science, technology, engineering and mathematics recruitment, expects pre-tax profit for the year ending November 2026 to be about 10 million pounds ($13.6 million).
Analysts on average had forecast about 30.5 million pounds, according to a company poll.
“As we look further ahead, we are encouraged by pockets of improving momentum. However, we have not yet seen a broader market recovery and, prudently, do not think this will start to materialise near term, albeit not worsen,” CEO Timo Lehne said.
SThree plans to pursue additional cost-savings measures in fiscal 2026, including increased investment in artificial intelligence.
The company’s shares slumped 23.1% to 143 pence by 0715 GMT, pulling down the shares of rivals PageGroup, Hays and Robert Walters by between 1% and 3%.
Net fees from SThree’s largest market, Germany, fell 21% in the third quarter ended August 31, while the U.S. returned to growth with a 17% rise, supported by demand for skills in the energy sector. Overall, group net fees fell 12% to 81.5 million pounds.
SThree reaffirmed its fiscal 2025 pre-tax profit expectations of 25 million pounds.
($1 = 0.7334 pounds)
Reporting by Raechel Thankam Job in Bengaluru; Editing by Sherry Jacob-Phillips and Jacqueline Wong
No injuries, damage or power outages reported; fire service responded but to action was needed
BELCO press release issued September 15:
BELCO President Wayne Caines said: “Bermuda Electric Light Company (BELCO) can confirm that a minor incident occurred this evening during scheduled maintenance activities in our plant. The incident was quickly contained by our trained personnel before emergency services arrived. As is protocol, one truck from the Bermuda Fire and Rescue Service (BFRS) attended but was not required to take any action.
There was no risk to public safety and our plant did not sustain any damage. Bermuda’s power supply was not impacted by this incident.
We remain committed to the safe and reliable operation of our facilities. Thank you to our staff, the members of the BFRS and all those who worked to ensure this incident was brought under control quickly and safely.”
