Shadow Finance Minister highlights need for transparency on corporate tax funds and long-term structural change
The Opposition has weighed in on the recently released Tax Reform Commission report.
The OBA supports recommendations to reduce debt, stabilize government funding and improve healthcare access for seniors and the underinsured.
But while Shadow Finance Minister Dr Doug De Couto broadly welcomed the report, he warned against complacency and urged Government to act swiftly.
The OBA also noted the TRC’s call for transparency around how Corporate Income Tax funds will be allocated, managed, and governed.
Dr DeCouto said money has to be put aside for potential tax refund reserves – but he posed a hypothetical scenario, such as a hurricane.
While Dr DeCouto says the report outlines safety measures, such as a stability fund, he warned that without an international tax advantage, IB companies will be examining what Bermuda can really deliver for them.
U.N. envoys for the three countries – known as the E3 – issued a joint statement before a closed-door Security Council meeting
International News via Reuters:
Britain, France and Germany urged Iran at the United Nations on Friday to meet three requirements so their threat of reimposing U.N. sanctions can be delayed to allow space for talks on a deal to address their concerns about Tehran’s nuclear program.
U.N. envoys for the three countries – known as the E3 – issued a joint statement before a closed-door Security Council meeting, a day after they launched a 30-day process to reimpose U.N. sanctions on Iran over its disputed nuclear program.
The E3 offered to delay reinstating sanctions – known as snapback – for up to six months if Iran restored access for U.N. nuclear inspectors, addressed concerns about its stock of enriched uranium, and engaged in talks with the United States.
“Our asks were fair and realistic,” said Britain’s U.N. Ambassador Barbara Woodward, who read the statement. “However, as of today, Iran has shown no indication that it is serious about meeting them.”
“We urge Iran to reconsider this position, to reach an agreement based on our offer, and to help create the space for a diplomatic solution to this issue for the long term,” she said, with her German and French counterparts standing next to her.
In response, Iran’s U.N. Ambassador Amir Saeid Iravani said the E3 offer was “full of unrealistic preconditions”.
“They are demanding conditions that should be the outcome of negotiations, not the starting point, and they know these demands cannot be met,” he told reporters.
Iravani said the E3 should instead back “a short, unconditional technical extension of Resolution 2231”, which enshrines a 2015 nuclear deal that lifted U.N. and Western sanctions on Iran in return for curbs on its nuclear program.
SINO-RUSSIAN DRAFT
Russia and China have proposed a draft U.N. Security Council resolution that would extend the 2015 deal for six months and urge all parties to immediately resume negotiations. But they have not yet asked for a vote.
The pair, strategic allies of Iran, have removed controversial language from the draft – which they initially proposed on Sunday – that would have blocked the E3 from reimposing U.N. sanctions on Iran.
Iravani described the Russian and Chinese draft resolution as a practical step to give diplomacy more time. A resolution needs at least nine votes in favor and no vetoes by the U.S., France, Britain, China or Russia.
U.N. nuclear inspectors have returned to Iran for the first time since it suspended cooperation with them after attacks in June on its nuclear sites by Israel and the United States. But Iran has not yet reached an agreement on how it would resume full work with the International Atomic Energy Agency.
Reporting by Michelle Nichols, additional reporting by Parisa HafeziEditing by Gareth Jones
Labour Day Celebrations will be held on Monday, September 1 at Union Square
Press release:
This year’s Labour Day Celebrations will be held on Monday, September 1, 2025 at Union Square and is hosted by the Joint Labour Day Committee which is a subcommittee of the Bermuda Trade Union Congress (BTUC).
This year’s theme, “Labour is the Link”, highlights the vital role that the labour movement has played—and continues to play—in weaving together the fabric of our society. Labour is the crucial connection between economic growth and social justice, between progress and fairness, and between the recognition of workers and the wellbeing of our entire community.
Labour has been the link that secured collective bargaining, consultation, and collaboration.
Labour has been the link that established benefits for workers and protection of their rights.
Labour is the link that honours our forefathers; those who bravely fought for workers’ rights and built the foundation; we must defend against those who would seek to weaken or dismantle this foundation.
As we celebrate Labour Day, we are reminded of our duty to maintain a strong connection to our roots while building the links necessary to sustain and strengthen the movement for generations to come.
We must link more deeply with our members, ensuring their voices are heard and their needs represented.
We must strengthen our link with young workers, who are the future leaders of the movement.
We must link with change, recognizing and responding to new challenges such as artificial intelligence, climate change, and mental health in the workplace.
And above all, we must link more closely with each other, because we are only as strong as our weakest link.
Weak links form when communication falters, when collaboration is neglected, when coordination breaks down, and when respect is abandoned. We cannot allow outside influences to distract or divide us from our mission: the defense of workers’ rights, protections, and dignity in the workplace.
The threats against trade unionism remain real and persistent, but so too does our resilience. We honour the sacrifices of those who came before us by staying united and unwavering in our purpose. Let us embrace the spirit of this year’s theme: Labour is the Link—a link not only to our own wellbeing, but also to the sustainability and strength of trade unionism in Bermuda.
The tournament has introduced technology that transforms real matches into animated replays featuring robot-like doppelgangers of tennis stars
International News via Reuters:
Tennis fans at this year’s U.S Open can now watch the world’s top players battle it out in 3D cartoon form while chatting with an AI commentator that has been trained to bite its digital tongue when things get heated.
The tournament has introduced technology that transforms real matches into animated replays featuring robot-like doppelgangers of tennis stars, complete with a chatbot that offers insights but diplomatically dodges drama.
When world number one Jannik Sinner stepped up to serve in his first round match, his AI version took more than a minute to materialise on phone screens, jumping out of thin air in yellow attire, minus the white sleeve covering Sinner’s injured arm.
The 3D feature uses player tracking data to recreate matches through cartoon-like figures on the official app, according to Tyler Sidell, Technical Program Director for IBM’s Sports & Entertainment Partnerships.
“If you want to go back and see where that ball landed and see the trajectory of the ball, it’s a great tool for that,” Sidell told Reuters. “It’s also for people on the go. I might be on the train… coming to the U.S. Open, and I’m not able to stream.”
Not everyone is serving up praise for the digital innovation. Sue Morgan, a retired U.S. Open visitor from Atlanta, Georgia, was less than impressed. “It’s a little weird,” she said. “I didn’t love it, no. It’s not real.”
The app’s Match Chat feature proved both psychic and diplomatically vague during Sinner’s match against Czech player Vit Kopriva, correctly predicting a 92% likelihood of victory for the Italian.
However, when asked about Sinner’s performance, the chatbot hedged its bets, agreeing in separate messages that it could be considered both “great” and “slightly underwhelming.”
The AI commentator has been programmed with a strict vocabulary filter using curse words from both American and British English, lessons learned from its deployment at Wimbledon earlier this year.
When former champion Daniil Medvedev smashed his racket after losing on day one, the chatbot played diplomatic defence: “Thank you for your request. This data isn’t available for this match at the moment.”
With about 5 million chatbot interactions recorded so far, IBM’s Sidell said the technology aims to complement rather than replace the live tennis experience, though some fans clearly prefer their Grand Slam action served up the traditional way.
Maria Tsvetkova, editing by Simon Jennings and Pritha Sarkar
So far in 2025, police have arrested 138 people for impaired driving offences
A bad mix: Drinking and driving File photo
Police press release: With this being a holiday weekend, there are several social events set to take place.
The Bermuda Police Service (BPS) wishes to assure the public, there will be a heightened presence of officers across the island to prevent against any disruptions by persons engaging in antisocial behaviour.
Please be advised that roadside sobriety checkpoints will be conducted across all parishes beginning today, Friday, August 29, 2025, and continuing through to Tuesday, September 2, 2025.
In addition, speed checks as well as stop-and-search initiatives under Section 315F of the Criminal Code Act 1907 remain in effect.
Acting Superintendent Robert Cardwell, Tactical Unit, noted, “Speed and driving under the influence remain two of the leading causes of serious injury collisions on Bermuda’s roads – both of which are entirely avoidable. The faster you drive, the less time you have to react. Alarmingly, so far in 2025, police have arrested 138 people for impaired driving offences. Serious collisions can leave individuals with life-long disabilities, or worse.”
Mr. Cardwell added, “We will continue to enforce all traffic laws in our effort to reduce these incidents. But enforcement alone is not enough. Safer roads depend on drivers making better choices. Slow down, never drive while impaired, and stay alert behind the wheel.”
The BPS further reminds motorists that distracted driving, aggressive driving, and other traffic violations also contribute to collisions and put all road users at risk.
The General Command of the Armed Forces said that the accident involved an aircraft from the 31st Tactical Air Base near Poznan
International News via Reuters:
A Polish Air Force F-16 fighter jet crashed during a rehearsal for an airshow in Radom, central Poland, and the pilot died, the army said on Thursday.
“A Polish Army pilot died in the crash of an F-16 aircraft -an officer who always served his country with dedication and great courage. I pay tribute to his memory,” Defence Minister Wladyslaw Kosiniak-Kamysz wrote on X after arriving at the crash scene.
The General Command of the Armed Forces said that the accident involved an aircraft from the 31st Tactical Air Base near Poznan and that there were no injuries to any bystanders.
“Rescue operations were immediately initiated at the scene,” it said in a statement.
Footage obtained by Polish media showed the F-16 performing a barrel roll aerobatic manoeuvre, and then crashing in flames as it slid on the ground.
Local media said the aircraft crashed into the runway around 1730 GMT and damaged it, and the Radom Airshow planned for the weekend has been cancelled.
Reporting by Anna Wlodarczak-Semczuk, additional reporting by Karol Badohal, Barbara Erling, Alan Charlish; Editing by Leslie Adler, Cynthia Osterman and Nick Zieminski
The motion narrowly adopted by the upper chamber’s economic affairs and taxation committee passed its sister body in the lower chamber in June
International News via Reuters:
A second Swiss parliamentary committee on Friday backed a motion set to delay some tougher capital rules for UBS, in a move signalling significant support among conservative and centrist parties for the bank’s demands to soften proposed regulation.
The motion narrowly adopted by the upper chamber’s economic affairs and taxation committee passed its sister body in the lower chamber in June, just weeks after the government presented a long-awaited plan to tighten Swiss banking rules following the collapse of Credit Suisse in 2023.
The text instructs the Swiss government to submit all of its planned banking stability measures to parliament rather than issuing some directly via so-called ordinance measures.
This could give UBS more time to fulfill the capital requirements for a proposed stricter valuation of assets like software or deferred tax assets.
The government had envisaged implementing these requirements as ordinance measures, effective from 2027. But they could now be handed over to parliament, in which case the new rules are expected to enter into force in 2028 at the earliest.
Overall, the government said UBS would need to find up to $26 billion in additional core capital. It estimated the ordinance measures in the package could account for around $3 billion of the total.
UBS has criticised the new capital proposals, arguing they are not proportionate and risk putting the bank at a disadvantage against international competitors.
The motion passed the parliamentary committees with votes from the right-wing Swiss People’s Party (SVP), centre-right Liberal Party (FDP) and centrist Green Liberal Party (GLP).
It still needs to be adopted by parliament to become binding, with the debate set to take place in September. The three parties together have a majority in the lower house but would need additional votes to pass the upper chamber.
Bermuda’s amateur golfers concluded their impressive campaign at the 2025 World Amateur Handicap Championships in Myrtle Beach, South Carolina, with a stellar final-day performance that saw the contingent bring home two division titles and a total of five top-ten finishes.
The standout performance came from Tracy Burgess, who was crowned the winner of the Women’s Gross Division. A superb final round of 75 saw her maintain her lead from the previous day, claiming sole possession of first place in Flight #54 with a total score of 313. Her teammate, Morgan Lightbourne, also finished strong, securing a ninth-place finish in the same division with a score of 335.
On the men’s side, Richard Marriott was crowned the Senior Men’s (50-59) Division Champion. A final-round Net score of 69 was enough for him to secure the title in Flight #10, finishing with a total score of 291. Anthony Than finished tied for 37th in the same division with a score of 330.
The success continued in the senior women’s events. Ann Symonds, who had led her division on day one, finished in a respectable fourth place in Flight #57, the Senior Women 60 & Above Division, after a final-round Net score of 76, for a total of 305. Ann Mitchell also had a strong finish, securing a fifth-place finish in Flight #58 with a final-round score of 76 and a total of 313.
In the Super Senior Men’s (70-79) Division, Frank Morgan finished tied for 19th in Flight 49 with a score of 333, and Gary Venning finished 33rd in Flight 47 with a score of 336.
Germany’s Bild newspaper reported on Friday that some users were still having problems with the app
International News via Reuters:
PayPal said on Friday that it was working to resolve any remaining issues following a widespread disruption that had halted user payments in Germany, raising alarm over the reliability of the app for online transactions.
“We apologise for the inconvenience caused by the current events. Safety remains our top priority,” the company said in an emailed statement to Reuters, adding that the disruption had since been resolved.
“We are working closely with our banking partners to resolve any discrepancies on customers’ accounts. All legitimate merchant transactions will be fully remunerated.”
The company did not comment on the cause of the problem.
The Sueddeutsche Zeitung newspaper reported earlier this week that German banks had halted 10 billion euros’ ($11.71 billion) worth of payments on Monday due to concerns that PayPal’s security system had stopped vetting them for potential fraud.
Germany’s Bild newspaper reported on Friday that some users were still having problems with the app, a popular method of payment in the country.
A spokesperson declined to comment on the report directly.
The disruption has raised concerns in Germany about consumers’ reliance on the U.S. company to carry out payments online.
A spokesperson for the German finance ministry declined to comment on Friday when asked whether Europe should develop an alternative to PayPal but said the recent incident showed the importance of resilient systems of payment.
($1 = 0.8542 euros)
Reporting by Rachel More and Christian KraemerEditing by Miranda Murray
Immigration has now become the dominant political issue in Britain
International News via Reuters:
The British government on Friday won a court ruling that means asylum seekers will not have to be evicted from a hotel where a resident was charged with sexual assault, a decision that could ignite more protests and criticism from opponents.
Immigration has now become the dominant political issue in Britain, eclipsing concerns over a faltering economy, as the country faces a record number of asylum claims and arrivals by migrants in small boats across the Channel, including more than 28,000 this year.
Last week, London’s High Court granted an injunction to stop asylum seekers being housed in the Bell Hotel in Epping, Essex, about 20 miles (30 km) northeast of the capital, which had become a focal point of sometimes violent demonstrations after an Ethiopian asylum seeker living there was charged with sexual offences.
But on Friday, the Court of Appeal upheld the government’s appeal against that ruling, which had been made on planning grounds, and lifted the temporary injunction which would have led to the asylum seekers being evicted.
While the court victory will ease the headache of immediate, widespread hotel closures, it opens up the Prime Minister Keir Starmer and his ministers to accusations from his main political opponents that he is siding with asylum seekers over the fears of local people.
“Keir Starmer has shown that he puts the rights of illegal immigrants above the rights of British people who just want to feel safe in their towns and communities,” Kemi Badenoch, the leader of the main opposition Conservative Party, said in a statement.
The government had argued the injunction would lead to further protests across the country seeking to force the immediate closure of hotels, and putting pressure on the system to house asylum seekers waiting to have their cases determined.
David Bean, one of the three appeal court judges, said if protests, even unlawful ones, were used to obtain injunctions, it could incentivise others to follow suit, creating “a risk of encouraging further lawlessness”.
“We inherited a chaotic asylum accommodation system costing billions,” Angela Eagle, the minister for asylum, said: “We appealed this judgment so hotels like the Bell can be exited in a controlled and orderly way that avoids the chaos of recent years that saw 400 hotels open at a cost of 9 million pounds a day.”
FARAGE PLAN
Currently there are just over 32,000 migrants in more than 200 hotels across the country, according to government figures up to the end of June.
While the government plans to close all these by the next election, due in 2029, in the meantime its lawyers said it had a legal duty to provide accommodation to asylum seekers facing destitution, under its obligations under the European Convention on Human Rights.
This week Nigel Farage, leader of Britain’s populist Reform UK party which is leading in opinion polls, announced a plan to repeal human rights laws to permit mass deportations of asylum seekers.
While his proposals were criticised as unworkable by lawyers and his party has just four lawmakers in the 650-seat parliament, it gained extensive media coverage.
“The government has used ECHR against the people of Epping,” Farage said on X. “Illegal migrants have more rights than the British people under Starmer.”
Pro-migrant groups say opportunistic politicians and far-right groups are deliberately seeking to exploit and inflame tensions for their own ends. Epping Council, which had sought the injunction, is controlled by the Conservatives.
Critics of housing asylum seekers in hotels say the costly policy can put the local community at risk and point to incidents where individual migrants have been accused of serious crimes, including serious sexual offences against young girls.
This week, the Ethiopian asylum seeker went on trial accused of sexually assaulting a teenage girl and another woman in Epping, accusations he denied, while in a separate case in central England, two Afghan migrants denied involvement in the rape of a 12-year-old girl.
Protests in Epping have continued with further demonstrations planned for this weekend.
Reporting by Sam Tobin; Editing by Michael Holden and Alison Williams
Dun Laoghaire, Co. Dublin, 28 August 2025: The fifth day of racing at ILCA U21 World Championships held at the Royal St. George Yacht Club, co-host with the National Yacht Club, Dun Laoghaire. Photograph: David Branigan/Oceansport
Sebastian Kempe has held his position in 12th place as the 2025 ILCA Under-21 World Championship in Dublin Bay, Ireland, heads for a dramatic finale. With just one day of racing remaining, the pressure is on the leaders, while Kempe will be looking to make a final push up the leaderboard.
The young Bermudian sailor, competing against nearly 220 of the world’s best, navigated a challenging Day 5 with consistency. In the first race of the day (the ninth of the regatta), Kempe crossed the line in 22nd place. He followed that with an impressive 13th-place finish in the second and final race of the day, leaving him with a net points total of 112.
Overall leader Ole Schweckendiek of Germany faced renewed pressure from his rivals, setting the stage for a thrilling final day of racing. While a podium finish may be out of reach for Kempe, his improved consistency over the past two days is a positive sign as he continues to gain valuable experience on the world stage.
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