Police warn of localised flooding and reopened potholes posing road hazards
Credit: Bermuda Police Service
Police are urging motorists to exercise extra caution following recent heavy rainfall.
In a statement on its Facebook page, the Bermuda Police Service said the downpours have led to flooding in some areas and caused potholes to reopen in others.
“Motorists are advised to drive with care, particularly when approaching areas where water has accumulated on the roadway,” the post read.
“These conditions can lead to reduced traction and visibility of hazards. Please remain alert, maintain a safe following distance, and reduce your speed.
“Your cooperation can help prevent collisions and keep our roads safer for everyone.”
Bermudian track sensation Caitlyn Bobb delivered a dominant performance at the Harry Jerome Track Classic at Swangard Stadium, winning the Women’s 400m A Final.
Bobb powered to victory with an impressive time of 52.29 seconds, outclassing a competitive field that included Canadian specialists. Madeline Price secured second place with 52.91 seconds, while fellow Canadian Kyra Constantine finished third in 54.21.
This significant win at an international event further highlights Bobb’s growing stature in the 400m, where she holds Bermuda’s national record of 51.11 seconds. Her consistent strong showings against top-tier competition are a promising sign for her continued progression on the international stage.
The portfolio mainly consists of 25-year fixed rate mortgages for residential properties in France
International News via Reuters:
HSBC has agreed to sell 6.7 billion euros ($7.81 billion) worth of French home loans to British insurer Rothesay and consortium partner CCF Group, the latter said on Friday.
The portfolio mainly consists of 25-year fixed rate mortgages for residential properties in France, Rothesay said.
The proposed sale comes as HSBC has shrunk its presence in France in recent years as part of a wider pivot to Eastern markets.
The British bank completed the sale of its retail banking business in France in January 2024, to Crédit Commercial de France (CCF).
($1 = 0.8581 euros)
Reporting By Lawrence White; Editing by Kirsten Donovan
Jake Brisland wins silver in 5,000m and Sienna Mosquera (pictured) wins bronze in golf
Day five of the Island Games has proven to be a truly historic one for Bermuda, with the island celebrating not one, but two new medals and seeing both its men’s and women’s football teams advance to their respective finals.
In golf, Sienna Mosquera delivered a superb performance on the greens to secure a bronze medal in the Ladies Individual event. Mosquera’s final round of 74 saw her finish with an impressive four-round total of 299, clinching Bermuda’s second medal of the Games.
On the track, Bermuda added another medal to its tally as Jake Brisland claimed silver in the Men’s 5,000m, finishing second with a time of 15:15.38.
It was a sensational day on the football pitch. The Women’s National team secured a dominant 3-0 victory over Gozo in their semi-final, with second-half goals from Jaden Masters, Emily Cabral, and Symira Lowe-Darrell. The drama continued in the Men’s Under 23 National team semi-final, where Bermuda staged a remarkable comeback, winning 3-2 after extra time against Jersey, with Jace Donawa scoring the winner in the 120th minute.
Bermuda’s athletes will now be focused on their respective finals and final performances as the Island Games head into their concluding stages.
Both Werealize and JP Morgan claimed victory after Friday’s ruling, as the two sides also did last year
International News via Reuters:
JP Morgan must stop suing directors of fintech Viva Wallet in Greece, London’s High Court ruled on Friday, in the latest round of a bitter legal battle over the Greek startup.
The U.S. bank brought a lawsuit in Athens in January against Viva’s CEO Haris Karonis and three other directors, seeking 916 million euros ($1.1 billion) as part of a dispute over JP Morgan’s investment in Viva.
Viva’s majority shareholder Werealize and the Viva directors responded by applying for an anti-suit injunction in London to stop JP Morgan pursuing its case in Greece.
Judge David Foxton granted Karonis and the other directors an anti-suit injunction, on the grounds that suing in Greece was a breach of JP Morgan and Werealize’s shareholders’ agreement.
Both Werealize and JP Morgan claimed victory after Friday’s ruling, as the two sides also did last year when the High Court ruled on their respective call options to purchase the other’s Viva shares.
Werealize’s spokesperson called on JP Morgan to “engage in productive discussions” about Viva’s future, adding: “JPM must now step aside and allow Viva to continue growing and reach its full commercial potential.”
JP Morgan, however, pointed to the court’s rejection of many of Werealize’s arguments, including that the Greek lawsuit was hopeless or oppressive.
“While we will continue to address their litigious tactics, and many matters are still being resolved by the courts, our commitment remains steadfast to the business and our investment,” a spokesperson for the bank said.
JP Morgan bought a 48.5% stake in Viva Wallet, which is used by businesses in southern Europe, for nearly 810 million euros in 2022, while Karonis’ Werealize owns 51.49%.
In January, the Court of Appeal ruled that JP Morgan effectively had “one shot” at exercising its call option to acquire Werealize’s shares, though the parties’ dispute over whether that has taken place has not yet been resolved.
JP Morgan and Werealize and its directors have also filed defamation lawsuits against each other in Greece. Foxton said the business relationship has been “acrimonious, albeit a fruitful one for the legal community” in Britain and Greece.
Ether benefits from an increased usage of U.S. dollar-pegged tokens known as stablecoins
International News via Reuters:
Crypto-focused stocks rose on Friday, after ether hit a six-month high on the passage of a stablecoin bill by the U.S. House of Representatives.
The bill, expected to be signed into law by President Donald Trump, marks a watershed for the digital asset industry, which has long pushed lawmakers to create rules for digital assets, arguing that a clear framework could drive a wider usage of stablecoins and other crypto tokens.
Ether benefits from an increased usage of U.S. dollar-pegged tokens known as stablecoins. Most stablecoins are issued and transacted on the underlying Ethereum blockchain, driving up demand for ether to pay for transaction fees.
Shares of BitMine, where tech billionaire Peter Thiel is the top investor and whose chairman is Fundstrat’s Tom Lee, soared 12.7%. Other ether holding firms Bit Digital and BTCS added 6.5% and 22.9%, respectively. SharpLink shares dipped 0.6%.
The $3.5 billion SharpLink Gaming, which has funded its ether treasury through stock sales in recent weeks, said on Thursday that it had added $5 billion to its current $1 billion share sale plan.
“The standout proposition of institutional Ethereum accumulation seems to be stablecoin growth which has been further accelerated by the recent success of Circle IPO,” said Matthew Dibb, CIO at Astronaut Capital, a Singapore-based crypto asset manager.
“Ethereum is by far the biggest beneficiary of stablecoin usage.”
Stablecoin issuer Circle Internet added 6%, while crypto exchange Coinbase Global gained 7.6% and hit an all-time high for the first since its IPO in 2021.
ETHER TREASURY STRATEGY
Ether climbed to $3,675.81, its highest since January 6, and was last up 6.6% at $3,643.09, outperforming bitcoin, which eased 0.5% to $118,870 after hitting a record high of $123,153 this week.
Ether has also got a boost from a number of companies adding the digital asset to their balance sheets recently, following the example of Strategy. Shares of the largest corporate holder of bitcoin have skyrocketed more than 3,000% since 2000 as its underlying asset has ballooned in value.
“Time will tell whether these treasury companies outperform the core ETH ETF, but given the success of (Strategy) in recent years, it won’t stop them from trying,” Astronaut Capital’s Dibb said.
While many companies have launched copycat strategies with bitcoin, which is capped at 21 million coins and is often viewed as a digital store of value, the pivot to ether has raised some eyebrows as it does not have a cap on maximum supply.
“It is hard to comprehend why so many speculators are denying themselves that cardinal benefit by buying their crypto exposure in an equity wrapper that issues new shares regularly,” said Michael O’Rourke, chief market strategist at JonesTrading.
“While the fixed supply cap is bitcoin’s cardinal trait, the cardinal trait of a digital treasury company business model is perpetual dilution through share issuance.”
Reporting by Medha Singh in Bengaluru; Editing by Saumyadeb Chakrabarty and Anil D’Silva
The labor market is showing signs of weakness even as headline job gains and the unemployment rate remain relatively solid
FILE PHOTO: U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
International News via Reuters:
The U.S. dollar slipped on Friday but held onto weekly gains, as investors weighed signs that tariffs may be starting to increase some inflation pressures along with expected Federal Reserve policy as U.S. President Donald Trump increases pressure on Chair Jerome Powell.
Data on Tuesday showed that consumer prices rose in June, though the increase was seen as moderate. Wednesday’s producer price inflation report, meanwhile, showed that prices were steady last month.
Powell has said he expects inflation to rise this summer as a result of Trump’s tariff policies, which has pushed out expectations on when the U.S. central bank is likely to cut rates.
But the labor market is showing signs of weakness even as headline job gains and the unemployment rate remain relatively solid.
“We’re waiting on the tariffs to become real and not just a negotiating ploy and waiting on the labor market to reveal itself,” said Lou Brien, strategist at DRW Trading in Chicago.
“Layoffs are at a lower level than they were pre-pandemic, but the hiring is terrible. And if, all of a sudden, the layoffs come up, we’re going to get a significant increase in the unemployment rate very quickly,” Brien said.
Fed governor Chris Waller said on Friday that he favors a rate cut at the July meeting because he feels the tariffs are likely to have a limited impact on inflation. He added that underlying data “are not indicating a super healthy private sector labor market,” and the Fed should “get ahead” of a possible hiring slowdown.
Waller’s comments come amid near daily criticism by Trump of Powell over the Fed’s reluctance to cut rates. The dollar tumbled on Wednesday on reports that Trump was planning to fire the Fed Chair, but rebounded after Trump denied the reports. Powell’s term will end in May.
Fed funds futures traders are pricing in 45 basis points of cuts by year-end, implying that two 25 basis point cuts are seen as most likely, with the first coming in September.
The dollar index was last down 0.26% on the day at 98.25, and is on track for a 0.39% weekly gain.
The euro gained 0.49% to $1.1652 but is headed for a weekly drop of 0.31%.
Sterling rose 0.27% to $1.3451 and is heading for a weekly decline of 0.32%.
The Japanese yen, meanwhile, was slightly higher against the greenback heading into Sunday’s upper house election in which Japan’s ruling party looks vulnerable.
The dollar weakened 0.09% to 148.46 yen, but is on track for a weekly gain of 0.71%.
Polls suggest Japan’s ruling coalition is at risk of losing its majority, which would stir policy uncertainty at home and complicate tariff negotiations with the United States.
U.S. Treasury Secretary Scott Bessent told Japanese Prime Minister Shigeru Ishiba that their countries can reach a “good agreement” on tariffs, Ishiba said on Friday after meeting Bessent in Tokyo.
In cryptocurrencies, bitcoin fell 0.78% to $118,552, holding below a record $123,153 reached on Monday.
The U.S. House of Representatives on Thursday passed a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens known as stablecoins, sending the bill to Trump, who is expected to sign it into law.
Reporting by Karen Brettell. Additional reporting by Kevin Buckland and Alun John. Editing by Mark Potter
Police say Section 315F powers help keep weapons off the streets
In the first two quarters of this year, there have been fourteen confirmed incidents involving bladed articles.
And police tell us they are likely to recover more knives through stop and search operations as the tactic helps reduce opportunities for crime.
Acting Deputy Commissioner of Police Antoine Daniels, says Section 315F of the Criminal Code Act 1907 is delivering proactive results in the fight against violence.
His death marks the 5th road traffic fatality for 2025
Credit: Bermuda Police Service
Media release:
The Bermuda Police Service can now confirm that the 16-year-old male auxiliary cycle rider, injured in a road traffic collision that occurred around 6:30 p.m. on Thursday, July 17, 2025, has succumbed to his injures.
The incident involving the auxiliary cycle and a motorcar occurred on Parsons Lane in Devonshire, near Watlington Waterworks.
Police and Emergency Medical Services personnel attended the scene and observed an unresponsive male with a serious head injury, lying on the roadway.
EMTs immediately began life saving measures which continued as the victim was transported to King Edward VII Memorial Hopsital.
Sadly, he was pronounced dead shortly after arriving at hospital.
The male motorcar driver, was not injured.
An investigation into this incident has now commenced and anyone with information is asked to contact Police Constable Kevin Medeiros on 717-2402 or via e-mail kmedeiros@bps.bm
This is the fifth person lost as a result of a road traffic collision on our roads this year.
New feature goes live August 5 as part of Government’s digital fare initiative
It won’t be long before residents can access real-time information on buses and ferries.
Transport Minister Owen Darrell announced today that a new feature on the Shorelink app will launch on August 5th.
It’s part of the second phase of Government’s digital fare media initiative, which has already enabled more than 22,000 users to purchase public transport fares using their smartphones.
Minister Darrell described the new update as a “gamechanger” for commuters.
“This launch represents a major leap forward in how we serve the public,” he said. “It brings to life a vision of smarter, more connected, and more responsive public transportation.”
“With the introduction of real-time updates, Bermuda’s commuters will, for the first time, have immediate, accurate information at their fingertips, allowing them to plan their journeys with confidence, reduce waiting times, and experience public transport the way it should be: modern, efficient, and reliable.”
As of mid-June, Minister Darrell said the project had generated sales of more than $800,000.
He added that work is steadily advancing on the third phase, which will introduce contactless card payments on board ferries and buses.
16-year-old boy dies following road traffic collision, minimum wage set to increase by 73 cents per hour says Economy and Labour Minister, public transport app to display real-time arrival information next month plus the latest from the sports desk
One water truck delivery service says wait times for water delivery has extended during the summer dry spell and encourages residents to conserve household water
Public water supply system on Frog Lane, Devonshire. Photo: Bermuda Broadcasting Company
Save water and expect a long wait if you need a delivery to top up your tank.
Dry conditions have prompted both government and truckers to urge islanders to keep an eye on supplies – and not to be wasteful.
Minsiter of Public Works and Environment, Jache Adams advised, ““As we navigate a dry stretch this summer, we want to ensure residents are thinking ahead. Now is the time to check your water situation and make sensible choices.
“This is not about alarm. This is about preparation. A bit of planning today can prevent unnecessary disruption tomorrow.”
According to forecasters at the Bermuda Weather Service, the island has seen 1.68 inches of rain so far this month while the normal precipitation up to the current date is 2.36 inches.
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