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London stocks edge higher led by industrials, banks; US jobs data in focus

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London stocks edge higher led by industrials, banks; US jobs data in focus

The domestically focused FTSE 250 was up 0.3%, but headed towards its second straight weekly decline

Signage is seen outside the LSEG (London Stock Exchange Group) headquarters in Paternoster Square, London, Britain, April 25, 2025. REUTERS/Toby Melville/File Photo

International News via Reuters:

London shares nudged higher on Friday, led by gains in heavyweight banks and industrials, while investors assessed corporate updates and retail sales data.

As of 1012 GMT, the blue-chip FTSE 100 edged up 0.2% and was on track to log a weekly gain.

The domestically focused FTSE 250 was up 0.3%, but headed towards its second straight weekly decline.

In the market, aerospace and defence companies rose. Babcock and Melrose Industries were up about 2.1% each, while Rolls-Royce added 1.1%.

Industrial miners rose, tracking higher copper prices, with Rio Tinto up 1.5%. Precious metal miners also advanced.

Heavyweight bank stocks gained 0.7%. Top lenders HSBC and Standard Chartered added 1.7% and 1.3%, respectively.

Conversely, consumer staples stocks such as Tesco, Unilever and M&S declined.

Non-life insurers declined 1.2%, dragged down by Admiral Group that fell 2.8%, to the bottom of the FTSE 100, after Peel Hunt downgraded the stock to “sell” from “reduce”.

In corporate updates, Ashmore fell 6.5%, to the bottom of the mid-cap index, after the asset manager reported lower-than-expected fee revenue and a dip in profit in its annual results.

Concerns over Britain’s finances and the government’s ability to keep them under control weighed on the markets earlier this week, briefly sending yields on long-dated government bonds to a 27-year high.

Investors continue to speculate about tax rises that could dampen economic growth, with Britain set to deliver its budget on November 26.

On the data front, retail sales rose more than expected in July, boosted by good weather and the women’s European soccer championship, but annual growth was slower than expected after extensive revisions to previous months’ data.

Investors now await U.S. payrolls data for August, expected at 1230 GMT. Signs of weakness in the report could be crucial for investors who have been pricing in a 25-basis-point Federal Reserve rate cut at its meeting later this month.

Reporting by Sukriti Gupta in Bengaluru; Editing by Shailesh Kuber

EDF, European Investment Bank sign 500 million euro deal to update French power grid

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EDF, European Investment Bank sign 500 million euro deal to update French power grid

The second phase of financing will cover about 40% of the investment cost

International News via Reuters:

French utility EDF and the European Investment Bank on Friday announced a 500 million euro ($585.4 million) financing deal for the second phase of a 1 billion euro overhaul of France’s public electricity network.

European electricity grids have come under scrutiny in recent years as excess renewable energy production has raised interest in cross-border connections, and reinforcement is needed to upgrade and protect grids against climate change.

The second phase of financing will cover about 40% of the investment cost for the connection of 7 gigawatts of renewable generation capacity and more than 2,500 kilometres of underground or distribution line replacement by EDF’s subsidiary Enedis, the joint statement said.

Nearly 90% of the wind and solar energy produced in France is integrated into the distribution network managed by Enedis.

EU governments agreed in June to lift the annual lending of the bloc’s powerful European Investment Bank to 100 billion euros this year and treble its funding for the EU’s defence industry.

($1 = 0.8542 euros)

Reporting by Alban Kacher in Gdansk and Forrest Crellin in Paris; Editing by Jan Harvey, Alexandra Hudson

Myanmar’s Suu Kyi health worsening in military custody, son says

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Myanmar’s Suu Kyi health worsening in military custody, son says

The Nobel Peace Prize laureate has also suffered from bone and gum issues

International News via Reuters:

Myanmar’s detained former leader Aung San Suu Kyi is suffering from worsening heart problems and needs urgent medical attention, her son said on Friday, in an appeal for her immediate release from “cruel and life-threatening” custody.

Kim Aris told Reuters that his 80-year-old mother, in military custody since a 2021 coup that deposed her government, had asked to see a cardiologist about a month ago, but he had been unable to determine whether her request had been granted.

“Without proper medical examinations … it is impossible to know what state her heart is in,” he said by phone from London. “I am extremely worried. There is no way of verifying if she is even alive.”

The Nobel Peace Prize laureate has also suffered from bone and gum issues, Aris said, adding that it was likely she had been injured in an earthquake in March that killed more than 3,700 people. In a Facebook video, he appealed for Suu Kyi and all political prisoners in Myanmar to be released.

A spokesman for Myanmar’s military-backed interim government did not pick up calls from Reuters seeking comment, and its information ministry did not immediately respond to questions sent via email.

Myanmar has been gripped by violence since the military takeover in February 2021, which prompted mass rallies that were crushed by brutal force, sparking a widespread armed uprising.

Suu Kyi, a long-standing symbol of Myanmar’s pro-democracy movement, is serving a 27-year sentence for offences including incitement, corruption and election fraud, all of which she denies.

One of her last public appearances was in court in May 2021, a few months after the coup, when pictures aired by state television showed her sitting upright in the dock, with her hands in her lap and wearing a surgical mask.

DECADES IN DETENTION

The military justified its takeover on the basis of what it said was widespread fraud in an election that Suu Kyi’s party won by a landslide, although election monitors found no evidence of cheating.

Foreign governments and rights groups have consistently called for her release.

Starting in late December, the military-backed interim government plans to hold new elections in multiple phases, the first polls since the one that triggered the coup.

Anti-junta groups, including Suu Kyi’s party, are either boycotting or are barred from running, with only military-backed and approved parties participating. Western governments have criticised the vote as a move to entrench the generals’ power.

Born in 1945 to Myanmar’s independence hero, General Aung San, who was assassinated when she was an infant, Suu Kyi has spent nearly two decades in detention, including some 15 years under house arrest at her colonial-style family on Yangon’s Inya Lake, as ordered by a previous junta.

Educated at Oxford University, she married British scholar Michael Aris in 1972 and had two sons with him, before returning to Myanmar in 1988 to care for her ailing mother.

That is also when she joined nationwide protests against military rule, forming the National League for Democracy party and rising to become Myanmar’s most prominent pro-democracy leader.

Reporting by Reuters staffEditing by Ros Russell

Swiss economy minister to meet US officials on Friday, government says

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Swiss economy minister to meet US officials on Friday, government says

Switzerland has been desperately trying to lower the tariffs among the highest of any applied under Trump’s global trade reset

International News via Reuters:

Swiss economy minister Guy Parmelin is due to meet senior U.S. administration officials on Friday in the country’s latest effort to negotiate down the crippling 39% tariffs imposed by U.S. President Donald Trump on most Swiss exports.

Switzerland’s government said that Parmelin flew to Washington on Thursday night, with talks planned on Friday at a “ministerial level.”

The Economic Affairs Department declined to give further details of the talks, including which officials Parmelin planned to meet.

Switzerland has been desperately trying to lower the tariffs among the highest of any applied under Trump’s global trade reset.

A last-ditch attempt led by President Karin Keller-Sutter failed to produce a better deal and the tariffs went into effect on August 7, threatening major damage to the Swiss economy by reducing access to its biggest export market.

Parmelin also took part in that delegation, and his latest trip to the United States meant he was unable to speak at a Swiss business event in Baden on Friday.

UBS Chief Executive Sergio Ermotti, speaking at the same event, said he was worried U.S. tariffs would put pressure on economic growth and contribute towards higher inflation.

Ermotti said that he was also very disappointed by the tariffs imposed on Switzerland, but was confident that Bern would be able to reach an agreement for lower duties.

Reporting by Dave Graham and John Revill, editing by Aidan Lewis and Tomasz Janowski

BMW unveils iX3 EV hopeful in push to recover market share

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BMW unveils iX3 EV hopeful in push to recover market share

It is the first in a sequence of next-generation EV launches under the carmaker’s branding umbrella Neue Klasse

International News via Reuters:

BMW on Friday took the wraps off its Neue Klasse iX3 electric sport utility vehicle, a key model for the German carmaker that could help it reclaim some of the market share lost in its largest market China.

The model, which will enter production at the end of the year and go on sale in Europe in March 2026 at a price of 68,900 euros ($80,700), is one of BMW’s great hopes in the global market for premium electric vehicles.

It is the first in a sequence of next-generation EV launches under the carmaker’s branding umbrella Neue Klasse, German for new class.

Forming the backbone of that push, the iX3 has a range of more than 800 kilometres and is able to charge more than 370 kilometres worth of power within ten minutes.

“It represents a completely new model generation. A massive leap that will shape the entire brand for years to come,” BMW CEO Oliver Zipse said at the showcase in Munich ahead of the official opening of the IAA Mobility car show.

Analysts at Deutsche Bank said that BMW was targeting a market share recovery with the launch of Neue Klasse in China, where BMW – along with other European peers – has suffered setbacks in light of aggressive local competition.

“As such, Neue Klasse’s success in China will require a careful balancing act: adapting to local market demands and implementing a pricing strategy that resonates with Chinese consumers,” they said in a recent note.

($1 = 0.8542 euros)

Reporting by Christina Amann and Christoph SteitzEditing by Ludwig Burger

Dollar slides as bond markets stabilise, jobs data looms

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Dollar slides as bond markets stabilise, jobs data looms

On Friday, the dollar index dipped 0.2% to 98.018, trimming its gain for the week back to 0.2%

International News via Reuters:

The dollar declined versus major peers on Friday, trimming its weekly gain as bond markets stabilised and traders awaited key U.S. jobs data expected to firm up the case for an interest rate cut by the Federal Reserve.

Data on Thursday showing higher-than-expected applications for jobless benefits in the U.S. served as a prelude to the more critical nonfarm payrolls report. Bonds rallied in the U.S., Europe and Japan after fiscal concerns spurred a run-up in long-term yields, while the S&P 500 hit a new all-time high.

“It seems to me that the reaction to the ADP yesterday was a bit too muted,” said Francesco Pesole, FX strategist at ING.

“All in all, it is pointing to a probably weak payroll figure today. I was a little surprised to see the dollar holding up yesterday,” he said.

He added that dollar weakness in early European trading on Friday could be indicative of traders offloading greenbacks ahead of the U.S. job figures later in the session.

On Friday, the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, dipped 0.2% to 98.018, trimming its gain for the week back to 0.2%.

The dollar dropped 0.2% to 148.14 yen. The euro was up 0.2% on the day at $1.1682.

In the UK, retail sales data for July came in hot but failed to move the dial on sterling, which was last up 0.2% at $1.34695, while versus the euro, the pound weakened 0.05% to 86.74 pence.

Anxiety over U.S. President Donald Trump’s meddling with Fed policy and his unpredictable tariff regime has made investors shy about holding dollar assets of late, said Bart Wakabayashi, the Tokyo Branch Manager of State Street. 

“The dollar remains very, very underweight,” Wakabayashi said. “I do think there is room for the dollar buying to come back at some point. Maybe investors are just waiting for the rate cut to happen and then pile back in.”

Several Fed officials said labour market worries continue to support their calls for rate cuts, boosting expectations of an imminent easing. The Fed is due to convene on September 16-17.

The Labor Department’s Bureau of Labor Statistics (BLS) will report U.S. nonfarm payrolls for August, with economists surveyed by Reuters expecting an increase of 75,000 jobs after a gain of 73,000 in July.

That follows figures on Thursday showing that U.S. private payrolls rose by less than expected in August and jobless claims in the final week of the month were higher than predicted.

“The risk is still tilted to payrolls underperforming U.S. economists’ expectations that will weigh on the USD tonight,” Joseph Capurso, head of international economics at the Commonwealth Bank of Australia, wrote in a note.

Traders are pricing in a near-100% chance of the Fed cutting interest rates later this month, up from 87% a week ago, CME FedWatch showed.

Michael Brown, senior research strategist at Pepperstone, said that Friday’s jobs report doesn’t really matter in the grand scheme of things.

“The Fed will be delivering a 25-bp cut at the September meeting. A hot report shan’t dissuade them from doing so, given the broader trend of softening jobs data. A cool report shan’t convince them to plump for a larger rate reduction, given lingering upside inflation risks,” he wrote in a note.

Stephen Miran, Trump’s pick to fill an open seat at the Fed, said he would “not at all” be the president’s puppet when questioned by lawmakers on Thursday about whether he would make interest-rate decisions independently of political pressure.

Trump signed an order on Thursday to implement lower tariffs on Japanese automobile imports and other products that were announced in July. Japan also confirmed its commitment to an annual $7 billion worth of energy purchases from the U.S., a joint statement from the countries showed.

The Australian dollar rose 0.4% to $0.6544 . The New Zealand dollar rose 0.6% to $0.58785 .

In cryptocurrencies, bitcoin climbed 2.16% to $112,796.78, while ether added 2.1% to $4,398.61.

Reporting by Rocky Swift; editing by Sam Holmes and Jamie Freed and Mark Heinrich

TikTok users top 200 million in Europe, firm says

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TikTok users top 200 million in Europe, firm says

That is up from 175 million people last year, among users in 32 European countries

International News via Reuters:

TikTok has more than 200 million monthly users in Europe, or roughly one in three citizens on the continent, the short video app platform said on Friday, the latest sign of its rapid growth among teenagers.

That is up from 175 million people last year, among users in 32 European countries. TikTok, owned by Chinese technology behemoth ByteDance, has more than 1 billion users globally who visit monthly, a spokesperson said.

While the company has faced regulatory challenges worldwide, it has faced particular ire from U.S. President Donald Trump, who is pushing for divestment of its assets there.

In Europe, TikTok was fined 530 million euros ($600 million) by its lead EU privacy regulator in May.

ByteDance is set to launch a employee share buyback that will value the Chinese firm at more than $330 billion, Reuters reported in late August.

Reporting by Supantha Mukherjee in London; Editing by Clarence Fernandez

European stocks rise, long-dated yields ease ahead of US jobs data

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European stocks rise, long-dated yields ease ahead of US jobs data

Markets are all but certain of a quarter-point cut at the conclusion of the Fed’s two-day rate-setting meeting on September 17

International News via Reuters:

European equities rose in early trading on Friday while long-dated bond yields eased, as expectations for U.S. rate cuts helped markets overcome concerns about fiscal deficits in various countries.

The S&P 500 hit a new all-time high on Thursday after weekly jobs data showed more jobless claims than expected. Asian stocks tracked Wall Street higher overnight.

At 0752 GMT, the MSCI World Equity Index was up 0.3% on the day and Europe’s STOXX 600 was up 0.4%, set to end the week slightly higher overall after recovering from a dip earlier in the week.

The FTSE 100 was up 0.3% and France’s CAC 40 was up 0.2%.

Markets are all but certain of a quarter-point cut at the conclusion of the Fed’s two-day rate-setting meeting on September 17, according to LSEG data.

Traders will be looking to the monthly U.S. jobs report due later in the session to confirm their expectations. A weaker labour market boosts stocks because it raises expectations that the Federal Reserve will cut rates.

“We have already seen yesterday the sign that perhaps there will be a weakening in jobs, paving the way for a done deal in September,” said Francesco Sandrini, head of multi-asset strategies at Amundi.

Today’s numbers “can confirm to some extent an easing stance of the Federal Reserve,” Sandrini added.

Fed Chair Jerome Powell had already reinforced rate cut speculation with an unexpectedly dovish speech at last month’s Fed symposium in Jackson Hole.

“Unless it’s an absolutely stellar payrolls print, it’s hard to see too much that’s going to change the market away from locking in a September cut,” said Ken Crompton, head of rates strategy at National Australia Bank.

“Beyond that, the terminal rate and how you get there, that’s arguably still up for grabs.”

Market sentiment has recovered in recent sessions after global stocks fell earlier this week and long-date bond yields in Europe hit their highest in years, as investors became concerned about the state of various countries’ finances, particularly Britain and France.

Yields eased on Friday, with France’s 30-year yield at 4.3944%, down from a peak of 4.523% on Wednesday, and the UK’s 30-year yield at 5.563%, after borrowing costs hit their highest level since 1998 earlier in the week.

The benchmark 10-year German yield was at 2.7122%. German industrial orders unexpectedly fell in July, data on Friday showed.

Yields on 30-year Treasuries were at 4.8593%, having touched their lowest in three weeks during Asian trading.

The U.S. dollar eased, with the dollar index down 0.2% at 98.054, while the euro was up 0.2% at $1.1678.

After months of negotiations, the U.S. signed a deal to impose lower auto tariffs on Japan. The dollar was down 0.3% against the yen, with the pair at 148.14.

Oil prices were in their third day of declines. Brent crude futures fell 0.5% to $66.65 a barrel, while U.S. West Texas Intermediate crude eased 0.6% to $63.05.

Gold was steady at $3,546.24, having hit a record peak of $3,578.50 on Wednesday.

Reporting by Elizabeth Howcroft and Kevin Buckland; Editing by Ros Russell

Harbour Road reopened

Bermuda Broadcasting Newsdesk
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Harbour Road reopened

Power has been restored and Harbour Road has been reopened

BELCO crews worked through the night, and with repairs now largely complete, traffic is expected to be flowing normally again this morning — following major disruption across Paget and Warwick on Thursday.

It all began when a car struck a utility pole near Lover’s Lane on Wednesday night, cutting power to more than 20 homes and forcing a full closure of part of Harbour Road.

Morning rush hour descended into gridlock, with eastbound traffic diverted via Chapel Road and westbound via Lover’s Lane. Tailbacks stretched to Warwick Long Bay, and some commuters reported delays of over two hours getting into Hamilton.

The disruption continued into the evening as repair work forced the westbound lane to remain closed.

BELCO has thanked the public for their patience and is reminding motorists to use caution around any remaining work areas.

BA flight cancelled due to security breach

Bermuda Broadcasting Newsdesk
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BA flight cancelled due to security breach

TheBermudaFlyer: 10-year-old boards tonight’s Bermuda-bound flight without a ticket forcing cancellation

The Bermuda Flyer reporting that British Airways Flights a security issue involving a 10-year-old solo passenger forced the Bermuda-bound flight to be cancelled.

TheBermudaFlyer post about the incident on social media:

“British Airways Flight 159 and 158 have been cancelled this evening after a problem with a young passenger prevented the London to Bermuda flight from departing.

According to passsenger reports, a 10 year old solo passenger was discovered on board the aircraft without a valid ticket after boarding.

The flight was delayed while London Heathrow police were called to deal with the issue. After a 5 and a half hour delay, the flight was cancelled.

British Airways is expected to send two flights tomorrow to deal with the delayed passengers. The same aircraft scheduled for today’s flight will be used tomorrow, with passengers bags kept on board overnight.”

Bermuda Tonight – 4 September 2025

Bermuda Broadcasting Newsdesk
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Bermuda Tonight – 4 September 2025

Bermuda Evening News at 7pm.

Lost Society brings house music to Bermuda

Kendal Trott
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Lost Society brings house music to Bermuda

Bermuda’s nightlife is getting a boost thanks to Lost Society, a collective founded by four music lovers on a mission to bring world-class house music to the island. 
Their goal? To put Bermuda on the map with elevated events and global talent.

We caught up with one of the founders, DJ and producer Korie Minors, who shared how it all began and what’s next.

Lost Society is turning up the heat tomorrow night at the Hamilton Princess & Beach Club, bringing in two Canadian musicians, Hatiras and Virgil Thomas.
Here’s what they say fans can expect.

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