Jarion Richardson will step down as leader from September 6th but says he will continue to serve his constituents in Paget West
In major political news, Jarion Richardson always knew it wasn’t going to be forever … and now is the right time to step away.
Mr Richardson sat down with us on Monday after his announcement that he is stepping down as leader of the OBA, effective September 6th.
He will continue serving as MP for Paget West and tells us, he looks forward to spending more time with family, and re-focusing on his career in compliance.
Mr. Richardson, who became leader in August 2023, says it’s a good time to book end his tenure as head of the “super minority” opposition party.
Jasmine Patterson interviewed Mr. Richardson in studio.
Joe Biden reversed those decisions after taking office in 2021, returning the U.S. to UNESCO, the WHO and the climate agreement
International News via Reuters:
The United States will leave the United Nations’ culture and education agency UNESCO as President Donald Trump continues to pull his country out of international institutions he has long criticized, the New York Post reported on Tuesday, citing a White House official.
The White House did not immediately respond to a request for comment outside regular business hours.
The move is a blow to the Paris-based agency, founded after World War Two to promote peace through international cooperation in education, science, and culture.
Trump took similar steps during his first term, quitting the World Health Organization, the U.N. Human Rights Council, a global climate change accord and the Iran nuclear deal.
Joe Biden reversed those decisions after taking office in 2021, returning the U.S. to UNESCO, the WHO and the climate agreement.
With Trump now back in the White House, the U.S. is once again pulling out of these global bodies. The administration has also ordered a 90-day pause on all U.S. foreign assistance to assess alignment with Trump’s foreign policy priorities.
UNESCO is best known for designating World Heritage Sites, including the Grand Canyon in the United States and the ancient city of Palmyra in Syria.
The United States initially joined UNESCO at its founding in 1945 but withdrew for the first time in 1984 in protest against alleged financial mismanagement and perceived anti-U.S. bias, returning almost 20 years later in 2003 under President George W. Bush, who then said the agency had undertaken needed reforms.
UNESCO’s full name is the United Nations Educational, Scientific and Cultural Organization.
UNESCO officials said the agency was already a lot less dependent on the United States than in the past, but the move would nonetheless impact the agency, with some limited impact on programmes the United States was financing.
The United States provides about 8% of UNESCO’s total budget, down from about 20% at the time Trump first pulled the United States out of the agency.
Reporting by Shubham Kalia in Bengaluru, John Irish in Paris; writing by Ingrid Melander; Editing by Hugh Lawson
The benchmark FTSE 100 was flat by 0944 GMT, after registering a record closing high on Monday
FILE PHOTO: Branding is seen inside 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’s main stock indexes were mixed on Tuesday as investors parsed a spate of corporate earnings, and awaited the release of key economic data this week.
The benchmark FTSE 100 was flat by 0944 GMT, after registering a record closing high on Monday. The domestically oriented midcap FTSE 250 lost 0.4%.
Industrial miners rose 1.1%, tracking a rise in copper prices, buoyed by hopes for firmer Chinese demand. Glencore gained 2.2%, while Rio Tinto rose 1.1%. [MET/L]
Homebuilders and household goods stocks led sectoral losses, falling 1.6%. Vistry down 2.7%.
Data showed Britain borrowed more than expected in June as a jump in inflation pushed up the government’s debt costs.
In company news, British food catering firm Compass Group rose 6.1% to the top of the blue-chip index, after it agreed to buy European premium food services business Vermaat Groep for about 1.5 billion euros ($1.75 billion), including debt and also raised its annual profit forecast.
Energy firm Centrica surged 3.9% after Britain approved the 38 billion pound ($51 billion) Sizewell C nuclear plant in eastern England. The company holds a 15% stake in the project.
Greencore jumped 10.5%, to top the FTSE mid-cap index, after the convenience food manufacturer raised its annual profit expectations.
Kier Group fell 5.1%, to the bottom of the mid-cap index, after the British infrastructure and construction group said that its CEO Andrew Davies would be stepping down, and named insider Stuart Togwell as his successor, effective November 1, 2025.
Meanwhile, AstraZeneca on Monday said it plans to invest $50 billion in the U.S. to expand manufacturing and research capabilities as it reacts to White House trade policy.
On the radar this week are UK flash Purchasing Managers’ Index for July and June retail sales data.
Reporting by Sukriti Gupta; Editing by Shinjini Ganguli
The funding is expected to unlock an additional 826 million euros ($966 million) in private investments to the companies
International News via Reuters:
The European Commission approved on Tuesday up to 403 million euros ($471 million) in public funding for 10 mostly small and medium-sized companies in a bid to support innovation in medical devices.
The funding is expected to unlock an additional 826 million euros ($966 million) in private investments to the companies, the commission said in a statement.
The commission said the projects are expected to create around 800 jobs and will include the introduction of new digital and artificial intelligence features in medical devices.
($1 = 0.8548 euros)
Reporting by Makini Brice; Editing by Benoit Van Overstraeten
Bailey was speaking to the Treasury Committee alongside other members of the BoE’s Financial Policy Committee
International News via Reuters:
Bank of England Governor Andrew Bailey said on Tuesday that a rise in British government borrowing costs was not out of line with increases in other countries.
“We have seen steepening of yield curves going on now,” Bailey told lawmakers on parliament’s Treasury Committee.
“I think the important thing to say is that is a global phenomenon. It’s not in any sense unique to this country. In fact, the pattern in this country is not in any sense out of line with what we’ve seen in other markets, and we’ve seen steeper increases in some other markets.”
Rising borrowing costs were being driven by concerns about the impact on global trade from trade policy decisions and uncertainty about fiscal policy, he said.
U.S. President Donald Trump has imposed tariffs on imports of many goods and has also won approval in Congress for tax cuts that are forecast to push up U.S. public debt.
Bailey was speaking to the Treasury Committee alongside other members of the BoE’s Financial Policy Committee.
Randall Kroszner, a former U.S. Federal Reserve official who is a member of the FPC, said he saw no clash between financial stability and a relaxation of regulations announced by finance minister Rachel Reeves.
“But always the devil is in the detail,” Kroszner said.
Reporting by David Milliken and Suban AbdullaWriting by William Schomberg
The firm is among the staunchest supporters of the green hydrogen industry, which uses renewable energy for its production
International News via Reuters:
The deployment of pipes and other infrastructure to ship hydrogen across Europe faces delays of two or three years, the head of Spanish gas grid operator Enagas said on Tuesday.
The firm is among the staunchest supporters of the green hydrogen industry, which uses renewable energy for its production.
Earlier this year, Enagas pledged to invest more than 4 billion euros by the end of the decade, mostly to diversify into managing a network of hydrogen infrastructure.
It plans to build a 2,600 km (1,615 mile) hydrogen network in Spain to be connected to the planned trans-European H2Med corridor aimed at connecting the Iberian region with northwest Europe.
Enagas still expects the Spanish network to be ready by 2030. However, at the European level delays of two or three years are likely, Chief Executive Arturo Gonzalo said.
“Are there delays in Europe? I would say delays of a very limited scope…Different member states are setting the launch date for their hydrogen infrastructures between 2030 and 2032,” he said.
That’s beyond the 2030 target for H2Med to be operational.
Reporting by Pietro Lombardi; Editing by Kirsten Donovan
With a long coastline facing the South China Sea, Vietnam is prone to typhoons that are often deadly
International News via Reuters:
Tropical storm Wipha weakened after making landfall in northern Vietnam on Tuesday, with authorities on alert due to heavy rains that could cause flooding and mudslides, as the Philippines struggled with monsoon downpours that began last week.
Wipha hit the northern provinces of Ninh Binh and Thanh Hoa early on Tuesday afternoon with wind speeds of up to 74 kph (46 mph), slowing from around 100 kph on its approach, the national weather forecasting agency said.
With a long coastline facing the South China Sea, Vietnam is prone to typhoons that are often deadly and Wipha is the first major storm to hit this year.
Heavy rains of up to 50 cm (20 inches) were forecast to continue until Wednesday morning, and authorities warned people to watch out for landslides in mountainous areas and flooding in urban areas. Around 350,000 soldiers were put on standby.
Prime Minister Pham Minh Chinh had put coastal provinces on emergency footing as Wipha neared, with residents nervous after the devastation of Typhoon Yagi, which last year killed around 300 people and caused $3.3 billion of damage.
“I have learnt from last year’s mistakes, when we underestimated Yagi,” Ngo Van Thuong, a 40-year-old warehouse manager in Ha Long City, told Reuters as the storm neared.
“Doorways and roofs are places that need more attention, and, since yesterday, I have also put sandbags on top of the roof,” Thuong said.
A fishing boat in Quang Ninh province capsized early on Tuesday, but all nine of the fishermen on board were saved, the Nguoi Lao Dong newspaper reported.
Airlines cancelled and rescheduled dozens of flights, and some airport, port and train services were suspended, though state media reported that airports in Quang Ninh and Haiphong had resumed operations on Tuesday afternoon.
Photos on state media showed empty streets in the capital in Hanoi, where many workplaces were closed on Tuesday, including the U.S. embassy.
“We haven’t forgotten about Yagi, and have taken extra measures to cope with Wipha,” said a resident of Cat Ba Island in Haiphong.
FLOODING, CLOSURES IN PHILIPPINES
In the Philippines, Wipha has intensified already torrential monsoon rains, triggering knee- to waist-deep flooding across parts of the country and forcing a second day of school closures, flight cancellations and the suspension of government work.
Thousands of families remain in evacuation centres as relentless rains, which swept through the country’s north last week, continue to batter the country.
President Ferdinand Marcos Jr., currently on an official visit to the United States, said government agencies had been mobilised to provide assistance.
“Relief goods are ready and are being delivered to affected areas, along with medical teams,” Marcos said in a recorded message. “We’re ensuring transport, electricity, and water supplies are stable for those affected.”
On Sunday, Wipha, then at full typhoon strength, barrelled across Hong Kong and southern China. As the storm passed Hong Kong, more than 110 mm of rain fell within three hours and maximum wind gusts exceeded 167 kph at some points, prompting authorities to issue their highest storm warning.
Reporting by Khanh Vu in Hanoi, Thinh Nguyen in Ha Long, and Karen Lema and Mikhail Flores in Manila; Editing by John Mair and Sharon Singleton
Britain borrowed more than expected in June as high inflation added to the government’s debt costs
International News via Reuters:
The pound steadied on Tuesday, consolidating after the previous day’s rally, as investors took stock of data that showed UK government borrowing soared in June, a reminder of the fragility of Britain’s public finances.
Sterling, which rose 0.6% on Monday, its biggest one-day gain in a month, was last at $1.3493, showing little change on the day. It was also steady against the euro, which was at 86.7 pence.
Britain borrowed more than expected in June as high inflation added to the government’s debt costs, according to official data that is likely to add to speculation about the need for fresh tax increases later this year.
Public sector net borrowing totalled 20.7 billion pounds ($27.9 billion) last month, the data showed. This compares with a forecast of 17.1 billion pounds for June from the Office for Budget Responsibility, the budget watchdog.
“These overshot expectations yet again, a fact that should refocus minds on UK fiscal sustainability risks, especially after warnings by the ONS that the 20.7 billion pound figure recorded represents ‘the second-highest June borrowing since monthly records began in 1993, after that of June 2020’,” analysts at Monex said.
“As we have noted previously, this is not a sterling positive dynamic, leaving risks to the pound tilted to the downside ahead of Thursday’s PMI release,” they said.
The borrowing figures added to a sense among investors that finance minister Rachel Reeves may have to raise taxes again later this year to remain on track to meet her targets for fixing the public finances.
A separate report on Tuesday showed grocery inflation in Britain rose to 5.2% in the four weeks to July 13, up from 4.7% in last month’s report and the highest since January last year, heaping more pressure on UK households.
Market researcher Worldpanel by Numerator, which published the report, said just under two-thirds of households say they are “very concerned” about the cost of their groceries, and are switching to supermarket own-label products.
The numbers align with data last week that showed nationwide consumer price inflation picked up more than expected in June, also hitting the fastest pace since January 2024.
The Bank of England is expected to cut rates by a quarter point next week and at least one more time before the end of the year.
Reporting by Amanda Cooper. Editing by Mark Potter
Police name teen in fatal collision, outgoing OBA leader dismisses narratives about the party as “outdated” and political commentator predicts early general election after PLP leader David Burt steps down in October plus all the latest from the sports desk
Public looking for direction, not just a new face, says political commentator
With Jarion Richardson due to step down as Opposition Leader, the question on many minds is – who will succeed him?
But it’s not the only question, suggests political commentator and radio host David Sullivan.
He says the public will also be watching closely for signs of the direction the One Bermuda Alliance (OBA) intends to take.
Mr. Sullivan says the timing presents an opportunity for the OBA to define itself in a way that continues to resonates with voters.
Mr. Sullivan said while the OBA is not lacking in talent, that’s only part of what’s required to take on what he called a “thankless job” that demands “tremendous sacrifice.”
While Deputy Leader Ben Smith is the most natural successor, Mr Sullivan pointed out there are some interesting alternatives – especially following the Opposition’s gains at the polls earlier this year.
But it will take time, development, and planning … something Jarion Richardson has allowed for by announcing his departure well in advance.
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