Maeztu takes the top job at Ingka Group as the Swedish retailer grapples with U.S. tariffs, wars and geopolitical tensions
International News via Reuters:
The world’s biggest retailer of IKEA furniture said on Wednesday CEO Jesper Brodin was stepping down after eight years, to be succeeded by Spaniard Juvencio Maeztu, the first non-Swede to lead the group.
Maeztu takes the top job at Ingka Group as the Swedish retailer grapples with U.S. tariffs, wars and geopolitical tensions that risk disrupting its operations spanning 31 countries from Europe to China, India and the United States.
Brodin, CEO since 2017, said his decision to step down was not easy, but that it was the right time to do so. Maeztu is to start in the new role by November 5, with Brodin staying at the company until the end of February to ease the transition.
Deputy CEO and chief financial officer since 2018, Maeztu, 57, started at IKEA in 2001 as manager of the Alcorcon store in Madrid, later managing the Wembley store in London, before a six-year stint as CEO of IKEA India.
“We’ve been riding through quite some storms together – pandemic, geopolitical issues, war, etcetera,” Brodin, 56, told Reuters.
“So in a way I feel proud of the things we have achieved but also super confident that the IKEA house is in good order and we’ll be able to take off for the future with Juvencio.”
Under Brodin, Ingka Group invested heavily to improve online shopping for IKEA, driving the retailer’s online sales up. Ingka also set new emissions reduction targets and reported in January that emissions fell by 30.1% from its 2016 baseline.
Brodin said the appointment of Maeztu, who grew up in Cadiz and does not speak Swedish, shows IKEA’s global culture works.
The incoming CEO is setting off on a “listening tour” of its big blue stores around the world, starting in Asia, as he builds his strategy to grow the company which last year reported weaker net profit and revenue after slashing prices.
“I am fully determined to make IKEA grow and to really be relevant for many millions more consumers around the world,” Maeztu told Reuters. He has said tariffs make it harder for IKEA to keep prices low.
Privately-held Ingka Group will report sales figures in mid-October for its financial year ending August 31. As the biggest franchisee, Ingka sells IKEA products manufactured by brand owner and franchiser Inter IKEA.
Reporting by Helen Reid; Editing by Emelia Sithole-Matarise
Fire has affected nearly 440,000 hectares (1,700 square miles) in the eurozone so far in 2025
International News via Reuters:
Wildfires caused by arsonists or thunderstorms and fanned by a heatwave and strong winds wreaked destruction across southern Europe on Wednesday, burning homes and forcing thousands of residents and tourists to flee.
Fire has affected nearly 440,000 hectares (1,700 square miles) in the eurozone so far in 2025, double the average for the same period of the year since 2006, according to the EU Science Hub’s Joint Research Centre.
Flames and dark smoke billowed over a cement factory that was set alight by a wildfire that swept through olive groves and forests and disrupted rail traffic on the outskirts of the Greek city of Patras, west of Athens.
“What does it look like? It looks like doomsday. May God help us and help the people here,” said Giorgos Karvanis, a volunteer who had come from Athens to Patras to help.
Authorities ordered residents of a town of about 7,700 people near Patras to evacuate on Tuesday and issued new alerts on Wednesday, advising residents of two nearby villages to leave.
On the Greek islands of Chios, in the east, and Cephalonia, in the west, both popular with tourists, authorities told people to move to safety as fires spread.
In Spain, a volunteer firefighter died from severe burns and several people were hospitalised as state weather agency AEMET warned that almost all of the country was at extreme or very high risk of fire.
The 35-year-old man had been attempting to create firebreaks near the town of Nogarejas, in the central Castile and Leon region, when he was trapped in the blaze, regional officials said.
He was the sixth person to die this year in wildfires in Spain. Others include two firefighters in Tarragona and Avila, according to emergency services.
Working in unprepared landscapes puts firefighters’ lives at risk, said Alexander Held, a senior expert in fire management at the European Forest Institute, adding authorities should prepare by creating buffer zones and clearing combustible vegetation.
“Take an industrial building and imagine there would be no fire detectors, no sprinkler systems, no fire protection doors and no escape routes – firefighters would just refuse to go in, but in our landscape we expect them to do this,” Held said.
Investing 1 billion euros ($1.2 billion) a year in forest management could save 9.9 million hectares – an area the size of Portugal – and 99 billion euros spent on fighting fires and restoration work afterwards, according to Greenpeace.
SUSPECTED ARSON
Spanish Environment Minister Sara Aagesen told the SER radio station that many fires across the country were thought to be the work of arsonists due to their “virulence”.
A male firefighter was arrested on Tuesday for fires started in the Avila area north of Madrid two weeks ago, while police said on Tuesday they were investigating a 63-year-old woman for allegedly starting fires in Galicia’s Muxia area in August.
Police have also identified a suspect who is believed to have suffered burns to his hands after starting a small fire in a beachfront development in the southern coastal Cadiz area, Europa Press reported.
Thunderstorms have caused other fires.
On Tuesday, shortly after 5 p.m., Andalusia’s fire department was flooded with calls by residents reporting a fire caused by a lightning strike on a chestnut and oak forest in Los Romeros, north of the city of Huelva. The fire prompted the evacuation of around 250 residents but was largely controlled by Wednesday morning.
A blaze in Trancoso in Portugal that has been burning since Saturday got worse during the night as a lightning reignited an area that was thought safe, the civil protection service said.
In Albania, Defence Minister Pirro Vengu said it was a “critical week”, with several major wildfires burning across the country.
Some 10,000 firefighters, soldiers and police emergency units struggled with a total of 24 wildfires on Wednesday, the defence ministry said.
Flames reached two villages in the centre of the country, forcing villagers to flee, taking their livestock with them.
“We are going in the middle of two rivers because the fire has arrived,” said Hajri Dragoti, 68, from Narte, who fled with his wife taking a cow, a donkey and a dog. “We can’t do anything, it is like gunpowder.”
Spain was in its 10th day of a heatwave that peaked on Tuesday with temperatures as high as 45 degrees Celsius (113 degrees Fahrenheit), and which AEMET expected to last until Monday, making it one of the longest on record.
Pope Leo moved his weekly audience from St. Peter’s Square to an indoor venue in the Vatican, “to stay a little bit out of the sun and the extreme heat” as Italy’s health ministry issued extreme heat warnings for 16 cities on Wednesday, with temperatures forecast to peak at 39C (102F) in Florence.
($1 = 0.8538 euros)
Reporting by Louiza Vradi, David Latona, Aislinn Laing, Ivana Sekularac, Ilse Filks, Andrei Khalip and Gavin Jones; Writing by Charlie Devereux; Editing by Alex Richardson and Giles Elgood
In wake of fatal shootings, Premier Burt says lasting change will come when the entire community decides that ‘enough is enough’
Premier David Burt: “When even one family mourns, we all mourn. When violence takes lives, it hurts our entire island.”
Statement by Premier David Burt: The tragic events of yesterday, which claimed the lives of two young men, have shaken our island once again. My deepest condolences go to the families of those who were killed and who are facing unimaginable loss. As a father, I can only begin to comprehend the grief that the parents of the two victims are going through. I am also praying for the family of the third victim, who is recovering in the hospital and all of those who may have witnessed yesterday’s shooting or been in the vicinity, as such a callous and terrifying event took place in broad daylight on a busy street as workers and families walked around the City of Hamilton. If you have any information, come forward and speak to the police or call Crime Stoppers anonymously. Silence only allows this cycle of violence to continue, and it must end. Bermuda is a close-knit community. When even one family mourns, we all mourn. When violence takes lives, it hurts our entire island. We are not defined by these tragedies but how respond to them as a community, so it’s vital that we stand together and be there for one another. Your Government will continue to support the Bermuda Police Service, and first responders. We will also continue to invest in resources to support individuals and families affected by violence, and programmes that address the root causes of that violence. But lasting change will only come when we, as a community, decide together that enough is enough.
Police release images of two men wanted for fatal shootings on Court Street
Police today released these images of two men wanted in connection with yesterday’s double-murder.
18-year-old Nahkai Robinson and 23-year-old Netrae Eversley died after two men riding on a motorcycle opened fire on the men at the junction of Court Street and Dundonald Street in Hamilton.
Another victim, 24, is recovering in hospital.
Anyone with information in connection to the fatal shooting or the suspects pictured tonight should contact Detective Kenten Trott on 717-2345, speak with an officer you know or contact Crime Stoppers on 800-8477.
It’s been a busy period for Bermudian footballers across the United Kingdom, with a variety of results in cup and league competitions.
In Carabao Cup action, Nathan Trott’s Cardiff City advanced with a 2-1 victory over Swindon Town. Trott, who started for the team, conceded his first goal in the club’s colours but his side ultimately progressed. Meanwhile, Nahki Wells and Luton Town were knocked out of the competition, falling 1-0 to Coventry in a match where Wells was part of a heavily rotated squad.
In other competitions, Reggie Lambe and Needham Market secured their first point of the season with a goalless draw. There were also wins for Justin Donawa’s Brackley Town, who picked up a 2-0 victory in the National League Cup, and for Roger Lee, whose Heanor Town teammates defeated Clay Cross Town FC 4-1.
It was a difficult week for others, however. Kane Crichlow’s Sutton United went down to a heavy 7-0 defeat against Fulham Academy. Harry Twite and his Loughborough Student FC team lost 2-1, while Aunde Todd’s Binfield FC suffered a 3-1 loss.
OBA leader sets recent violence in the context of ‘deepening divisions across our community’
Jarion Richardson: “These acts of violence are a symptom of a wider decline in our civil society — a fraying of the bonds of respect and trust that hold us together.” Photo shows scene of yesterday’s shootings on Court Street
Statement by Opposition Leader Jarion Richardson: Bermuda is in mourning once again. In recent days, lives have been lost to violence — in our streets, in broad daylight, in front of the very communities we are supposed to protect. These tragedies do not only claim the lives of their victims. They leave children without parents, parents without children, families without answers, and communities without peace. The grief does not end when the headlines fade. It lingers — in the empty chairs at the dinner table, in the classrooms where friends notice a desk is vacant, in the hearts of neighbours who now walk their streets in fear. Many of our charities, including our schools, have seen this pain up close. Their work with families affected by traumatic homicide shows the depth of the wound left by violence, and the urgent need for structured grief recovery to help victims’ loved ones cope and heal. But this is not just about individual grief. These acts of violence are a symptom of a wider decline in our civil society — a fraying of the bonds of respect and trust that hold us together. We see it in the hostility that too often replaces healthy debate, in the disrespect shown in public spaces, and in the deepening divisions across our community. That same erosion of trust is one reason too many people remain silent when the police ask for help in solving crimes. Without witnesses, without community cooperation, justice is too often denied, and the cycle of violence continues. And yet, the police themselves are struggling. The Bermuda Police Service is still below its target staffing level. Internally, officers report low morale, lack of trust, and a culture that must change. They are working under strain, with fewer resources than they need, and often without the cooperation of the public they serve. No strategy can succeed under those conditions. The Government’s own National Violence Reduction Strategy admits that violence “threatens the very fabric of our island home” and that no one is immune. We know the causes. We have strategies on paper. We have community organizations already on the ground addressing the trauma. What we lack is national leadership to bring these efforts together, set measurable goals, and deliver results that people can see and feel. That is why I am calling for:
Urgent integration of community-based trauma recovery into the violence reduction strategy — ensuring grief support is a core part of how we break the cycle.
Island-wide trust rebuilding between police and communities — not as a slogan, but through consistent presence, genuine listening, and visible service in every parish.
Transparent, measurable progress reporting — with clear timelines, public benchmarks, and independent oversight for both the NVRS and police cultural reform.
Support for police capacity and culture change — so that officers are equipped, resourced, and trusted to do the job effectively and fairly.
We cannot meet this moment with more reassurances and the same old promises. We must meet it with action, urgency, and accountability. Bermuda is hurting — but Bermuda can heal. That healing will take leadership that is willing to listen, to unite, and to deliver. Our people deserve to feel safe in their homes, in their neighborhoods, and in their hearts. The time to act is now.
Acting Commissioner Antoine Daniels told media today the BPS has developed an operational plan to track down the culprits
Police have named two people who died after yesterday’s shootings on Court Street.
18 year old Nah-kai Robinson and 23 year old Natrae Eversley died after two men on a motorcycle opened fire at the junction of Court Street and Dundonald Street around 4.40pm Tuesday
A third victim, a 24 year old man, is recovering in the hospital from a wound to his “lower extremities”, according to police.
Acting Commissioner Antoine Daniels described the act as “careless” and pledges to dismantle the criminal organisations behind the crime.
Acting Superintendent Jason Smith said the description of the suspects have now been updated following a review of an independent video source and they’re asking the public for their help in identifying the men pictured.
We have been reliably informed by our sources that police officers have been complaining about the lack of training to use the recently implemented CCTV system. They claim it has resulted in investigations being hampered.
We also understand the CCTV cameras on Court Street, just two blocks away from the Hamilton Police Station may not have been fully operational.
We have sought comment from Police on the matter.
Anyone with information in connection to the fatal shooting or the suspects pictured should contact Detective Kenten Trott on 717-2345, speak with an officer you know or contact Crime Stoppers on 800-8477.
European stocks advanced 0.5%, with German shares adding 0.6%. Defence stocks led the gains, up 1.2%
International News via Reuters:
Global shares hit a record high and the dollar weakened on Wednesday as investors cheered mild inflation data, and expectations of a U.S. rate next month buoyed demand for riskier assets.
The MSCI All Country World Index of shares climbed for a second day and reached 951.74, an all-time high. Japan’s Nikkei stock index, meanwhile, set a fresh peak for a second straight session.
European stocks advanced 0.5%, with German shares adding 0.6%. Defence stocks led the gains, up 1.2%.
U.S. inflation readings, which on Tuesday showed the consumer price index (CPI) rising slightly less than forecast in the year through July, indicated President Donald Trump’s import tariffs had yet to filter down to consumer prices.
That helped Wall Street scale new heights, supported by increasing certainty that the Federal Reserve will cut interest rates next month.
“The fact that CPI was broadly as expected was met with relief, leading to equity gains and tighter credit spreads as investors became increasingly confident about another rate cut,” Deutsche Bank analysts wrote.
Also boosting market optimism was Trump’s signing of an executive order pausing triple-digit levies on Chinese imports for another 90 days.
The positive mood was set to spread to Wall Street, where a gauge of S&P 500 futures reached a record high, pointing to a 0.2% advance.
In Japan, a Reuters poll that tracks the Bank of Japan’s quarterly business survey showed the Japanese manufacturers’ sentiment index improved for a second straight month.
Another report showed Japan’s wholesale inflation slowed in July, underscoring the central bank’s view that upward price pressure from raw material costs will ease.
The Nikkei rose for the sixth straight day, breaking the 43,000 level for the first time and hitting a fresh record high.
Risk-sensitive cryptocurrency ether rose to an almost four-year high above $4,710.
FED CUT
The dollar index, which tracks the greenback against a basket of major peers, fell for a second day to its lowest in two weeks. It was last down 0.3% at 97.70.
The dollar lost 0.2% against the yen to 147.52. The euro added 0.3% to $1.1711, after a 0.5% jump in the previous session.
Traders are pricing in a 98% chance of a Fed cut in September, up from about 57% a month ago, according to the CME FedWatch tool.
Investors had been on tenterhooks about the inflation data because it followed a surprisingly weak jobs report on August 1 and had the potential to stoke concerns about stagflation – when an economy suffers both high inflation and high unemployment.
Trump has nominated White House adviser Stephen Miran to temporarily fill a vacant board seat at the U.S. central bank, stirring up speculation about presidential interference in monetary policy.
And the White House said it was “the plan” that the Bureau of Labor Statistics would continue to publish its closely watched monthly employment report after Trump’s pick to head the agency, E.J. Antoni, proposed suspending its release.
Speculation the labour report would be halted has “done the USD no favours and would have only incentivised foreign investors to review their hedging ratios on U.S. investments,” Chris Weston, head of research at Pepperstone, said in a note.
In sovereign bond markets, German 30-year bond yields fell on Wednesday, retreating from the previous day’s 14-year high sparked by uncertainty linked to Trump’s efforts to end the war in Ukraine.
U.S. crude fell 0.2% to $62.99 a barrel.
Reporting by Tom Wilson in London; additional reporting by Rocky Swift in Tokyo; Editing by Jacqueline Wong, Lincoln Feast and Kate Mayberry
She will be one of three global presenters at international forum
Dr Carika Weldon, Founder and CEO of CariGenetics, has been officially selected as one of three global presenters for the International Women’s Forum (IWF) annual “Ideas Remaking the World” Initiative. Following a global call for proposals, IWF reviewed submissions and identified three outstanding finalists to share their ideas on the world stage. Dr Weldon will present on the Caribbean Genome Program at the 2025 IWF Cornerstone Conference, taking place 5–7 November in Cape Town, South Africa. She is the second individual from the Caribbean region to receive this distinction — and the first Bermudian ever chosen to address this renowned gathering of international women leaders.
Hosted by IWF South Africa, this year’s conference will welcome leaders from over 30 countries. Dr Weldon, a member of IWF Bermuda, will join a select group of global visionaries presenting transformative innovations in leadership.
This milestone marks a powerful moment not only for Bermuda, but for the broader Caribbean community. Dr Weldon’s work has been internationally recognised for advancing genetic justice, precision medicine, and community-based research — particularly among historically underrepresented populations. Her selection reflects both the scientific excellence and community-first ethos that define her legacy.
“To be chosen to share my idea on a global stage representing Bermuda and the Caribbean is deeply humbling. This isn’t just a win for me — it’s a win for every girl who’s ever been told her voice was too small or her dreams too big. I carry the hopes of a region with me to South Africa, and I’m honoured to show the world what Caribbean science, resilience, and leadership look like. My presentation will spotlight the intersection of genomic science and social justice, amplifying Caribbean stories and solutions on a world stage.”
About the IWF Cornerstone Conference The International Women’s Forum (IWF) is a global network of preeminent women leaders from more than 30 nations. Its Cornerstone Conference is one of the most influential leadership events in the world, bringing together trailblazers in business, science, politics, and culture to share solutions that shape our future. The 2025 conference in Cape Town marks the return of the event to the African continent, with themes focused on innovation, equity, and global impact.
About CariGenetics CariGenetics is a pioneering genomic research organization dedicated to unlocking the genetic potential of individuals of Caribbean ancestry. Through personalised wellness solutions, cutting edge diagnostics, and regional scientific insights, CariGenetics is redefining precision healthcare across the Caribbean and beyond.
Repairs are slowing up traffic between Flatts and the Swizzle Inn
Government press release: The Ministry of Public Works and Environment is advising the motoring public to, if possible, avoid travelling along North Shore Road between Flatts and the Swizzle Inn, except for local access, while milling and paving works are underway. Sometimes, the works are not completed before peak traffic hours. Motorists should be aware that during these periods, wait times in the work zone can range between 20 and 30 minutes due to temporary traffic lights and stop-and-go operations. Where possible, drivers are strongly encouraged to use Harrington Sound Road as an alternative route to help ease congestion. The Ministry also reminds the public to follow the instructions of the traffic control personnel on-site. There have been reports of motorists ignoring stop signs and attempting to pass through the work zone when instructed to stop. Such behaviour poses safety risks to workers and other road users. These works are part of ongoing efforts to improve the road surface for the benefit of all motorists and are scheduled to continue until Friday, 29 August 2025. The Ministry thanks the public for their patience and cooperation during these essential works.
The move comes a week after its parent filed for bankruptcy protection in the United States
International News via Reuters:
The UK business of jewellery chain Claire’s is set to enter administration, threatening more than 2,150 jobs, it said on Wednesday.
Claire’s Accessories UK Ltd, the operator of Claire’s 306 stores across the UK and Ireland, said it had filed a notice of intention to appoint administrators at the High Court, a process which precedes a formal insolvency process.
The move comes a week after its parent filed for bankruptcy protection in the United States.
Claire’s is known for its trend-led accessories and as a destination for ear piercing.
“This decision, while difficult, is part of our broader effort to protect the long-term value of Claire’s across all markets,” CEO Chris Cramer said.
The UK company said insolvency practitioners Interpath were expected to be formally appointed as joint administrators in the coming days.
Claire’s UK stores will remain open and continue to trade. Store employees will remain in their positions.
“Over the coming weeks, we will endeavour to continue to operate all stores as a going concern for as long as we can, while we assess options for the company,” Will Wright, Interpath’s UK CEO, said.
“This includes exploring the possibility of a sale which would secure a future for this well-loved brand.”
Reporting by James Davey; Editing by Kirsten Donovan
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