Causeway reopens to traffic flow following multi-vehicle collision, man charged in connection with the Legends Bar double murder and three east end businesses targeted in spate of attempted burglaries plus all the latest sports action
Citigroup considers issuing its own stablecoin, CEO says
The third largest U.S. lender is also exploring reserve management for stablecoins and providing custody solutions for crypto assets
International News via Reuters:
Citigroup may issue its own stablecoin in an effort to facilitate digital payments, the bank’s CEO, Jane Fraser, told analysts on a post-earnings conference call on Tuesday.
“We are looking at the issuance of a Citi stablecoin, but probably most importantly is the tokenized deposit space, where we’re very active,” she said. “This is a good opportunity for us.”
The third largest U.S. lender is also exploring reserve management for stablecoins and providing custody solutions for crypto assets, Fraser said.
Citigroup’s shares briefly touched their highest level since the 2008 financial crisis after the bank reported second-quarter results that beat Wall Street estimates and said it plans to buy back at least $4 billion in stock.
Reporting by Lananh Nguyen in New York; Editing by Leslie Adler
Michael Branco sworn in as City councillor
He secured the seat in the municipal election earlier this month
Media release:
The City of Hamilton welcomes Michael Branco as its newest Councillor following his swearing-in at last week’s Board meeting. Surrounded by family, Councillor Branco took the oath of office and was officially welcomed by Mayor Charles Gosling, JP.
“We’re delighted to have Michael on the team,” said Mayor Gosling. “He brings extensive knowledge, experience, and professionalism to the role, and I have no doubt he will serve the City with dedication and integrity.”
Councillor Branco, who has previously served on several City committees, secured the seat in the municipal election earlier this month with 60 votes to Mia Chambray’s 28. The election was held following the passing of Councillor Lawrence ‘Larry’ Scott JP last month.
As a Common Councillor, Mr. Branco joins Mayor Gosling and fellow Councillors Nicholas Swan, John Harvey, Dennis Tucker, Jenefer Brimmer, George Scott, Shawn Brown, and RoseAnn Edwards in overseeing the administration of the City (group photo below).
Fairmont Southampton seeks to fill 400 positions to re-open in 2026
The Talent and Culture Department of the hotel hosted a Career Interest Meet & Greet session to welcome prospective hospitality workers at the BIU
Fairmont Southampton Hotel is seeking to fill over 400 positions when it re-opens next spring.
Bermuda’s largest hotel, which has undergone major renovations, is hosting a meet and greet on Tuesday, July 15 at the Bermuda Industrial Union.
It’s a first step towards hiring potential staff.
Cricket Weekend Round-Up: Hollis’s Heroics, Double Centuries and Five-Star Bowling
Another action-packed weekend in Bermudian cricket, both locally and abroad, has seen individual brilliance light up the scorecards. BBC provides a comprehensive look at the top performers across the Western County Cup, Premier, and First Division 50-over matches.
The standout performance with the bat came from Dennico Hollis, who exploded onto the Scottish club scene with a magnificent 126 not out for Stenhousemuir’s second team, The Tryst. His explosive innings, coming off just 89 balls and featuring 19 fours and 1 six, steered his side to a dramatic victory.
Back home in the Premier Division, Warwick Workman’s Club celebrated two centurions in their dominant win over Somerset Cricket Club. Zeri Tomlinson powered to 102, while Kamau Leverock also reached the magical three-figure mark with a superb 100, showcasing powerful hitting from both batsmen.
In the bowling department, Dion Stovell of the Southampton Rangers delivered a sensational spell in the First Division. Stovell was the weekend’s top bowler, dismantling PHC with astonishing figures of 5 wickets for just 3 runs from 5 overs, including three maidens, leading his team to a comprehensive victory.
In the Western County Cup, Allan Douglas of Somerset Bridge delivered a match-winning performance against Willow Cuts. Douglas’s crucial bowling figures of 4 wickets for 9 runs from 6.4 overs were instrumental in dethroning the cup holders.
Rounding out the top bowling displays, Luke Horan, representing the St. George’s Cricket Club Light Blue in a Cup Match Trial, put in a strong claim for selection with impressive figures of 4 wickets for 11 runs from 9 overs, including three maidens, showcasing his control and penetration.
These individual heroics underline the depth of talent in Bermudian cricket, both at home and abroad, promising more exciting action as the season progresses.
Bermuda’s Sionna Barton to Lead Coaches’ Pledge at World Jump Rope Championships
In a truly significant honour for Bermudian sport on the international stage, Sionna Barton, the esteemed Head Coach of the Jump 2B Fit program and driving force behind the impressive Bermy Bouncers, has been chosen to lead the official Coaches’ Pledge at the upcoming World Jump Rope Championships in Japan.
This prestigious event, set to electrify audiences in Kawasaki from July 27th to August 3rd, will bring together over 2,100 global competitors and coaches. Barton’s selection to lead the pledge during the Opening Ceremonies and Parade of Nations is a historic moment, not only for her personally and the Jump 2B Fit program but for every aspiring young athlete and dedicated coach across Bermuda.
This recognition on such a grand world stage powerfully underscores the growing impact and profound respect garnered by Bermuda’s vibrant jump rope community. It stands as a proud testament to the unwavering hard work, unwavering dedication, and inspirational spirit that Coach Barton and her talented athletes consistently embody. Her leading of this global pledge will undoubtedly be a moment to cherish, symbolising the core values of commitment and integrity for coaches worldwide.
Bermuda Shines on Day Two of Island Games in Orkney
Day Two of the 2025 Island Games has concluded in Orkney, and Bermuda’s athletes continue to deliver impressive performances across various disciplines, showcasing skill and determination.
Bermuda’s football teams maintained their perfect records. The Women’s National team secured their second victory, defeating Isle of Wight 2-0 with second-half goals from Jaden Masters and K’shaela Burch-Waldron. The Men’s Under-23 team had also won on Day One.
The squash courts provided high drama as Taylor Carrick battled through two gruelling five-set matches to reach the Men’s Singles final. His resilience saw him come from two sets down to win his quarter-final and then edge his semi-final opponent, positioning him for a medal shot.
In Track & Field, Sean Trott finished 5th in the Men’s 10,000m. Golfers Jarryd Dillas and Damian Palanyandi are T10th in the Men’s Individual event, while Sienna Mosquera is 12th in the Ladies’ Individual, putting Bermuda’s golfers in contention.
In Lawn Bowls, David Leach secured another win in Men’s Singles. While Badminton teams faced tough competition, Bermuda did secure a 4-1 victory over Western Isles, showing their capabilities.
Bermuda’s athletes are making their mark, with Taylor Carrick’s final appearance being a significant highlight as the island pushes for its first medal.
Scott Concludes Impressive Showing at NBA Academy Games
Bermudian basketball talent Ralph Scott has wrapped up his participation in the prestigious 2025 NBA Academy Games in Atlanta, delivering a series of performances that will undoubtedly have caught the attention of scouts and coaches.
Playing for the NBA Academy Select Purple team, Scott featured in all six of the tournament’s games, accumulating 148 minutes on court. He tallied an impressive total of 77 points across the competition.
Scott showcased his offensive range, converting 31 of 74 field goal attempts, including 10 of 30 from beyond the arc. He was also highly efficient from the free-throw line, going 5-for-6.
Beyond his scoring, Scott demonstrated a well-rounded game with 32 rebounds (19 offensive, 13 defensive), 8 assists, 3 steals, and a notable 12 blocked shots. His comprehensive stat line underscores his versatility and impact on both ends of the floor.
Scott’s consistent and high-level play at this elite showcase event solidifies the growing interest from various collegiate programmes as he continues his promising basketball development.
Britain reforms energy scheme to accelerate clean power projects
The reforms will also change the way auction budgets are determined
International News via Reuters:
The British government on Tuesday made changes to its main scheme for promoting clean energy projects, extending contract lengths and changing how auction budgets are set in a bid to accelerate the roll-out of renewable energy.
Offshore wind is at the heart of Britain’s plans to decarbonise its electricity sector by 2030. It aims to boost capacity to 43-50 gigawatts by the end of the decade, from around 15 GW now, although a government report in November said it would be a challenge to reach that goal.
Britain’s Contracts for Difference scheme is its main mechanism for securing clean energy projects and it holds annual auctions for subsidies, offering a guaranteed minimum price for the power produced to help spur investment in new projects.
Under the new rules, contracts for offshore wind, onshore wind, and solar projects will increase to 20 years from 15 years, the government said in a statement, adding the longer terms would spread costs over a longer period for consumers and provide greater certainty for investors.
The reforms will also change the way auction budgets are determined. The energy minister will now be able to view developer bids before setting the final budget, allowing for more accurate capacity procurement and ensuring better value for money for consumers.
“These reforms will give developers the certainty they need to build in Britain, helping deliver more clean power projects and supporting thousands of jobs,” Energy Secretary Ed Miliband said.
Reporting by Marwa Rashad. Editing by Mark Potter
ECB to test banks’ resilience to political risk amid war, tariffs
In addition to the stress test, supervisors have been telling banks for months to prepare for politically motivated disruption
International News via Reuters:
The European Central Bank will test banks’ resilience to geopolitical turmoil next year, chief ECB supervisor Claudia Buch said on Tuesday, as part of a growing focus on risks, from tariffs to sanctions.
The ECB has long warned that geopolitics is one of the biggest risks for euro zone banks amid conflicts in Ukraine and Gaza, as well as the trade war stoked by U.S. President Donald Trump. It will now assess banks’ preparedness to that type of risk, but with a twist.
In typical stress tests, banks are given scenarios and must calculate how much capital would be wiped out under each. In this exercise, however, the ECB will hand out levels of capital depletion and tell banks to come up with scenarios that could cause them.
“In the 2026 thematic stress test exercise, we will follow up on this year’s stress test by asking banks to assess which firm-specific geopolitical risk scenarios could severely impact their solvency,” Buch told the European Parliament.
In addition to the stress test, supervisors have been telling banks for months to prepare for politically motivated disruption, including a global dollar drought if the Federal Reserve withdraws its lifelines.
As part of the ECB’s regular supervisory work, banks have been told to watch their exposure to other countries, both via operations abroad and through credit to exporters, central bank sources have told Reuters.
Cyber attacks are seen as a risk too, particularly in Baltic countries, which have previously been the targets of Russian hackers, the sources said.
Supervisors are not telling banks to cut their exposures and they are not making specific recommendations at this stage, but rather urging banks to tighten their controls and think about contingency plans.
An ECB spokesperson declined to comment.
Next year’s ECB exercise will be part of banks’ self-evaluation of their capital needs, known in regulatory jargon as the Internal Capital Adequacy Assessment Process.
The ECB runs thematic health checks on euro zone banks every other year, when there is no European Union-wide stress test by the European Banking Authority.
Its latest, in 2024, was about cyber-resilience.
The results of the EBA’s latest stress test, which includes some U.S. tariffs in its adverse scenario, will be announced in early August.
Editing by Kirsten Donovan and Mark Porter
Trump lands Indonesia trade deal as EU readies retaliation
Trump had threatened the southeast Asian country with a 32% tariff rate effective August 1 in a letter sent to its president last week
International News via Reuters:
U.S. President Donald Trump on Tuesday announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail.
“Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!” Trump said in a post on Truth Social.
Indonesia’s total trade with the U.S. – totalling just under $40 billion in 2024 – does not rank in the top 15, but it has been growing. U.S. exports to Indonesia rose 3.7% last year, while imports from there were up 4.8%, leaving the U.S. with a goods trade deficit of nearly $18 billion.
The top U.S. import categories from Indonesia, according to U.S. Census Bureau data retrieved on the International Trade Centre’s TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp.
Susiwijono Moegiarso, a senior official with Indonesia’s Coordinating Ministry for Economic Affairs, told Reuters in a text message: “We are preparing a joint statement between U.S. and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon.”
Trump had threatened the southeast Asian country with a 32% tariff rate effective August 1 in a letter sent to its president last week.
Trump sent similar letters to roughly two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% up to 50%, as well as a 50% tariff on copper.
The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump’s pattern of backing off his tariff threats.
Since launching his tariff policy, Trump has clinched only a few deals despite his team touting an effort to bring home “90 deals in 90 days.” So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump’s tariffs while negotiations continue between Washington and Beijing.
EU READIES RETALIATION
The breakthrough with Indonesia came as the European Commission, the EU’s governing body, gets set to target 72 billion euros ($84.1 billion) worth of U.S. goods – from Boeing aircraft and bourbon whiskey to cars – for possible tariffs if trade talks with Washington fail.
Trump is threatening a 30% tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world’s largest markets.
The list, sent to EU member states and seen by Reuters on Tuesday, pre-dates Trump’s move over the weekend to ramp up pressure on the 27-nation bloc and responds instead to U.S. duties on cars and car parts and a 10% baseline tariff.
The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products – a range of fruits and vegetables, along with wine, beer and spirits – valued at 6.35 billion euros.
Following a meeting of EU ministers in Brussels on Monday, officials said they were still seeking a deal to avoid Trump’s heavy tariff blow.
But EU trade chief Maros Sefcovic said those at the meeting expressed unprecedented resolve to protect EU businesses using European countermeasures if negotiations with Washington fail to produce a deal.
Reporting by Philip Blenkinsop in Brussels and David Lawder in Washington; Additional reporting by Richard Lough in Paris; Amanda Teresia, Stefanno Sulaiman and Gayatri Suroyo in Jakarta; Editing by Daniel Wallis
UK’s BAE Systems confident on winning new Typhoon orders
Trade unions in Britain have raised concerns that without the new orders, some BAE final assembly production lines would run out of work in the 2030s
International News via Reuters:
British defence company BAE Systems is confident on winning new orders for Typhoon military jets from countries such as Qatar, Saudi Arabia and Turkey, its European air sector boss told reporters on Tuesday.
“We’re working with the UK government on a number of those campaigns presently,” Richard Hamilton, Managing Director for Europe and International in BAE Systems Air sector, said at the group’s facility in Warton, northern England.
Asked whether he was confident that those sales campaigns would result in new orders for the aircraft, he said: “yeah, absolutely”, adding that there was potential for new orders of up to 150 new Typhoons.
Underpinning that confidence in the new export order, he said, was Britain’s commitment to funding upgrades to Typhoon’s capabilities, which extends the aircraft’s lifespan.
“The confidence it gives the export partner, you know, with the Saudis, with the Turkish, when they see that this thing has a life, it just makes the whole conversation so much easier,” he said.
Trade unions in Britain have raised concerns that without the new orders, some BAE final assembly production lines would run out of work in the 2030s.
Reporting by Sarah Young; Editing by Catarina Demony
