Journalist Jasmine Patterson brings you the latest news plus sports with Earl Basden
In the headlines, Home Affairs Minister announces date of the upcoming Cost of Living Summit; Construction leader laments building costs as a deterrent for new capital investment; Hospital makes urgent appeal for blood donations plus a historic win for Gombey Warriors against Cuba in sports.
National Security Minister says the Emergency Measures Organisation is ‘not leaving anything to chance’
The Government of Bermuda issued the following media release.
The Emergency Measures Organisation (EMO), chaired by the Minister of National Security, Michael Weeks, convened today, Wednesday 11 June, for a planning session as Bermuda officially enters the 2025 Atlantic Hurricane Season, which runs annually from 1 June to 30 November.
Minister Weeks stated, “The Government of Bermuda, through the EMO, is actively preparing for any threat this season may bring. Today’s meeting confirms that all Government agencies are coordinating efforts to ensure readiness, and I want to assure the public that we are not leaving anything to chance.”
Today’s meeting included updates confirming that all EMO agencies and Government departments have completed or are finalising their hurricane preparedness measures.
The EMO also discussed the planned scenario-based tabletop exercise scheduled for 18 June to assess national response procedures.
A follow-up EMO meeting is set for 23 July, including a tabletop exercise debrief. The EMO stands ready to reconvene earlier if a developing storm requires immediate coordination.
This year’s season is expected to be above normal. According to the US National Oceanographic and Atmospheric Administration (NOAA), 13 to 19 named storms, 6 to 10 hurricanes, and 3 to 5 major hurricanes are predicted for the Atlantic.
These figures are above the long-term seasonal averages, due in part to record-warm sea surface temperatures and a weakening La Niña pattern.
The Bermuda Weather Service (BWS) has cautioned that even if the storm’s centre is not directly over Bermuda, the Island can still experience significant impacts.
Minister Weeks said: “Residents must remain informed using trusted sources. The Bermuda Weather Service is the Island’s official authority for all storm forecasts and updates.
“Likewise, our Government Emergency Broadcast Station at 100.1 FM is the official source of EMO updates during storms, especially during a power outage. Every household should have a working battery-powered FM radio ready.”
The EMO reminded the public of key preparation measures as part of today’s discussions:
For a complete list of recommended actions, residents are urged to visit the Government’s official hurricane preparedness page at www.gov.bm/are-you-ready-hurricane-season.
Minister Weeks concluded: “Preparedness is not just a Government responsibility; it starts at home. We must all take proactive steps now to reduce our risks later.”
Minister of Home Affairs, Alexa Lightbourne announced a Cost of Living Summit will be held on 25 June
Home Affairs Minister Alexa Lightbourne and Chair of the Cost of Living Commission, Anthony Richardson. Photo: Bermuda Broadcasting Company
40 percent of residents polled in the Government’s latest Cost of Living survey are citing housing, utilities, groceries and food as barriers to financial stability, according to Home Affairs Minister Alexa Lightbourne.
Minister Lightbourne revealed the findings of this survey which collected feedback from around 2,000 residents and 200 members of the business community.
Over 83% percent of respondents said they expect to struggle to meet basic needs in the next 12 months.
She further announced the upcoming Cost of Living Summit on June 25th at the Hamilton Princess.
During a media conference today, Minister Lightbourne said her ministry is inviting stakeholders from the third sector, local grocers and other retailers to attend the summit, as they seek to find tangible solutions to Bermuda’s high cost of living.
While conceding that many of the concerns were not new, Minister Lightbourne argued that the survey was validation of the urgency to develop new policy.
Minister Lightbourne was joined by Junior Home Affairs Minister Lindsay Simmons, Anthony Richardson chair of the Cost of Living Commission and Deputy Chair Michelle Jackson.
U.N. agencies expressed alarm about the impact of the Trump administrations’ cuts
International news via Reuters:
The world has missed its target of eliminating child labour by 2025 and funding cuts threaten recent progress on reducing the numbers of children in work, a new joint report by two United Nations agencies said on Wednesday.
The number of children in work worldwide has almost halved in the past 25 years but nearly 138 million were still involved in child labour in the past year, denied the right to learn and play, the International Labour Organization and UNICEF said.
UNICEF’s executive director Catherine Russell said funding cuts by donor countries threaten to undermine what she said had been encouraging signs on the issue in the last four years.
Reductions in education and livelihood support programmes risk forcing more vulnerable families to send their children to work, she said.
“Progress towards ending child labour is possible by applying legal safeguards, expanded social protection, investment in free, quality education… We must recommit to ensuring that children are in classrooms and playgrounds, not at work,” Russell said in a statement.
U.N. agencies have expressed alarm about the impact of drastic cuts implemented by the Trump administration in U.S. foreign aid, though the ILO-UNICEF report did not explicitly reference this issue.
Though there are 22 million fewer children in work since 2020, some 54 million worldwide remain in hazardous work that could harm their health and development, the agencies said.
The majority of children work in agriculture, while about a quarter are in services such as domestic work or selling goods in markets.
Two-thirds of all child labour takes place in sub-Saharan Africa, accounting for around 87 million children, with only a small reduction from 23.9% to 21.5% over the last four years.
“The findings of our report offer hope and show that progress is possible. Children belong in school, not in work… We still have a long way to go before we achieve our goal of eliminating child labour,” said ILO Director-General Gilbert F. Houngbo in a statement.
Reporting by Olivia Le PoidevinEditing by Gareth Jones
Gibraltar residents can cross into the EU country of Spain using residence cards
International news via Reuters:
The European Union (EU) and Britain reached an agreement on the status of the overseas territory of Gibraltar on Wednesday which facilitates border crossings and ends years of political uncertainty.
The status of Gibraltar – an enclave at the southern tip of Spain that has been under British rule since the 18th century – and how to police the border with Spain have been points of contention since Britain voted in 2016 to leave the EU.
Talks have continued without an agreement since Britain officially left the EU in 2020 over the territory’s status and border with Spain.
Gibraltar residents can cross using residence cards without needing to have their passports stamped. Spanish citizens can cross using a government ID card.
Passport controls have occasionally been re-established in tit-for-tat disputes, however, causing massive queues for up to 15,000 cross-border workers.
Under Wednesday’s agreement, those arriving at Gibraltar airport will show their passports to both Gibraltar and Spanish border officers.
The British Foreign Office said the system would follow a similar model to French police operating in London’s St. Pancras station, where the Eurostar train service connecting Britain with mainland Europe runs from.
It added that the agreement would provide a practical solution to avoid the need for what it described as “onerous checks” and long delays at the border.
“We have reached an agreement which protects British sovereignty, supports Gibraltar’s economy and allows businesses to plan for the long-term once again,” British Foreign Minister David Lammy said.
Spain had urged Britain to close a deal on Gibraltar’s post-Brexit status before the start of new EU border controls, which include a biometric entry-check system for non-EU citizens.
“This is about the removal of the last fence in Europe,” European Trade Commissioner Maros Sefcovic said.
Sticking points have included what role Spanish officials would have carrying out entry checks to the 29-nation Schengen free travel zone – of which Britain is not a member – at Gibraltar’s airport and its ports.
“I’m delighted we have finalised a conclusive political agreement which will bring legal certainty to the people of Gibraltar, its businesses and to those across the region who rely on stability at the frontier,” Fabian Picardo, the chief minister of Gibraltar, said.
Reporting by Philip Blenkinsop in Brussels, David Latona in Madrid and Sam Tabahriti in London; Writing by Catarina Demony; Editing by Inti Landauro, GV De Clercq and Ed Osmond
Dividing more than 2 trillion pounds ($2.7 trillion) of public spending on Wednesday
International news via Reuters:
British finance minister Rachel Reeves set out her plans to divide up more than 2 trillion pounds ($2.7 trillion) of public spending on Wednesday in a speech she hopes will foster a sense of national renewal.
Below are the key quotes:
AIM OF THE SPENDING REVIEW:
“We are renewing Britain. But I know that too many people in too many parts of our country are yet to feel it. This government’s task, my task as Chancellor and the purpose of this spending review is to change that.”
DEPARTMENTAL BUDGETS:
“Today I am allocating the envelope I set out in the Spring. In this spending review, total departmental budgets will grow by 2.3% a year in real terms.”
“This first rule (on stability) allows me as I set out in the Budget to allocate 190 billion pounds more to the day to day running of our public services over the course of the spending review compared to the previous government’s plans.”
ON CHALLENGES AHEAD:
“As I said in the Spring Statement, the world is changing before our eyes. And since the Spring, the challenges we face have only grown more acute. The signs of our age of insecurity are everywhere. So we are acting on the promise in our Plan for Change: Building renewal on foundations of national security, border security and economic security.”
BORDERS AND ASYLUM
“At the Budget last year I announced 150 million pounds to establish the new Border Security Command. And today, to support the integrity of our borders I can announce that funding of up to 280 million pounds more per year by the end of the spending review for our new Border Security Command.”
“We will be ending the costly use of hotels to house asylum seekers, in this Parliament. Funding that I have provided today including from the Transformation Fund will cut the asylum backlog; hear more appeal cases; and return people who have no right to be here, saving the taxpayer 1 billion pounds per year.”
TRAINING AND SKILLS
“To champion those small businesses seeking access to finance as they look to grow, I am increasing the financial firepower of the British Business Bank, a two-thirds increase in its investments, increasing its overall financial capacity to 25.6 billion pounds.”
HOUSING
“I am proud to announce the biggest cash injection into social and affordable housing in 50 years. A new Affordable Homes Programme – in which I am investing 39 billion pounds over the next decade.
“Direct government funding that will support housebuilding, especially for social rent.”
SCHOOLS AND HEALTH
“I am providing a cash uplift of over 4.5 billion pounds a year of additional funding for the core schools budget by the end of the spending review.”
“I am increasing the NHS technology budget by almost 50%. We are investing 10 billion pounds to bring our analogue health system into the digital age, including through the NHS app, so patients can manage their prescriptions, get their test results, and book appointments all in one place.”
Reporting by Kate Holton and Sarah Young
The State Department didn’t immediately respond to Reuters’ request for comment
International news via Reuters:
All members of the board that oversees the U.S. State Department’s Fulbright Program, which facilitates international educational exchanges, have voted to resign over alleged political interference from President Donald Trump’s administration, the board said on Wednesday.
The Trump administration had unlawfully “usurped the authority” of the board by denying awards to a “substantial number” of people who had already been selected for the 2025-2026 academic year through a yearlong, merit-based process, the Fulbright Foreign Scholarship Board said in a statement posted on the website Substack.
The department is also putting another 1,200 Fulbright recipients through an “unauthorized review process” that could lead to more rejections, according to the statement.
The board members chose to resign “rather than endorse unprecedented actions that we believe are impermissible under the law, compromise U.S. national interests and integrity, and undermine the mission and mandates Congress established for the Fulbright program nearly 80 years ago,” they said.
The State Department didn’t immediately respond to Reuters’ request for comment.
The New York Times reported the board had approved the applications of around 200 American professors and researchers who were set to work at universities and research institutions in other countries this summer, and the State Department was meant to send acceptance letters to the applicants in April.
Instead, board members learned the department’s Office of Public Diplomacy had begun sending rejection letters to the scholars based on the topics of their research.
“The bipartisan Fulbright Board was mandated by Congress to be a check on the executive and to ensure that students, researchers and educators are not subjected to the blatant political favoritism that this Administration is known for,” Democratic Senator Jeanne Shaheen of New Hampshire, the ranking Democrat on the Senate Foreign Relations Committee, said in a statement.
“While I understand and respect the bipartisan Fulbright Board for resigning en masse rather than grant credibility to a politicized process, I’m painfully aware that today’s move will change the quality of Fulbright programming and the independent research that has made our country a leader in so many fields,” she added.
The Fulbright program, which was established in 1946, sends U.S. graduate students, scholars, artists, teachers, and professionals abroad to study, conduct research or teach English in approximately 160 countries worldwide.
The program awards approximately 8,000 competitive, merit-based grants each year in most academic disciplines and fields of study, according to its website.
Since taking office for his second term in January, Trump’s administration has undertaken a major overhaul of the State Department, enacted massive funding cuts for academic research, and curbed visas for foreign students.
Reporting by Ryan Patrick Jones; Editing by Aurora Ellis
Senior men’s team beat local club Baez
A strong win for Bermuda sets a positive tone for the rest of the tour
The Bermuda Basketball Association’s Senior Men’s National team has kicked off their development tour in the Dominican Republic with a commanding victory, defeating local club team Baez 56-40.
The Bermudian squad set the tone early, with their defense dominating the first half. They showcased an impressive effort at that end of the court, limiting Baez to a mere 17 points in total by half-time, building a significant lead.
On the offensive end, Cameron Basden led the scoring for Bermuda with a strong performance, contributing 16 points to the victory. He was ably supported by Jaelen Williams, who also reached double figures with 14 points.
This dominant opening win provides a positive start to their highly anticipated tour of the Dominican Republic, setting a strong precedent for their upcoming matches against competitive opposition.
Construction boss says costs have risen to such a level that investment is not viable
Don’t look to the private sector to build affordable housing – it’s just not possible.
This from Alex DeCouto, President of Greymane and the Co-Chair of the Construction Division of the Chamber of Commerce.
“I think that boat has long sailed”, he says.
Speaking above to Gary Foster Skelton about the recent import duty cuts on building supplies, Mr DeCouto says the cost of construction has risen to such a level that such investment is simply not viable.
Mr DeCouto says Government should look to the public housing model in Singapore for ideas.
Jubilation after Gombey Warriors secure place in final qualifying round
‘Bermuda showed incredible resilience and tactical nous’
Bermuda achieved a remarkable feat in the CONCACAF Qualifiers for the FIFA World Cup 2026, stunning hosts Cuba with a 2-1 victory in Santiago de Cuba to secure their place in the Final Qualifying Round.
With the final spots in Group A’s Second Round on the line, the stakes were incredibly high. Bermuda started brightly, stunning the home crowd by taking a 1-0 lead in just the 6th minute, with Djair Parfitt finding the back of the net. That early strike proved decisive as Bermuda held onto their narrow advantage, taking a 1-0 lead into the half-time break.
Cuba came out with renewed vigour in the second half, finding their equalizer in the 58th minute through Jorge Aguirre. But Bermuda showed incredible resilience and tactical nous. Substitute Reggie Lambe, on the field for just five minutes, made an immediate impact, putting Bermuda back in front with a crucial goal in the 74th minute.
Bermuda would hang on for the final 16 minutes, plus stoppage time, to claim the win. The final whistle was met with jubilation, confirming their hard-fought victory and their progression to the Final Qualifying Round of the FIFA World Cup 2026.
This is a monumental achievement for Bermudian football.
All blood types are needed, call 236-5067 to make an appointment
The Bermuda Hospitals Board today issued the following media release.
Bermuda Hospitals Board’s (BHB) Blood Donor Centre is asking people to donate blood. All blood types are needed. Donors and potential donors are asked to call 236-5067 to make an appointment.
If you are unsure about your blood type but are willing to donate, please contact the Bermuda Blood Donor Centre at (441) 236-5067 or blood.donor@bhb.bm, by WhatsApp at (441) 533-9553. Appointments are preferred, although walk-ins are accepted.
The Bermuda Blood Donor Centre is located at King Edward VII Memorial Hospital and is open Monday through Thursday from 8:30am to 2:30pm, and on Friday from 8:30am to 1pm. It is closed n weekends and public holidays.
The Bermuda Blood Donor Centre team thanks the community for their kind assistance in ensuring they can continue to save lives.
We also remind the public that the UK blood donation rule associated with Creutzfeld-Jakob disease (VCJD) in humans has been lifted making it possible for several who were previously ineligible, to donate. For more information visit https://bermudahospitals.bm/welcome-back-uk-blood-donation-rule-has-changed/.
More information about blood donation is available online at bermudahospitals.bm/be-a-donor/.
U.S. markets were underwhelmed by the outcome of the U.S.-China talks
International news via Reuters:
What matters in U.S. and global markets today
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After all the hype, this week’s trade talks between the United States and China turned into something of a damp squib, producing a ‘framework’ for progress and little in the way of concrete details. Investor attention will now quickly switch to today’s U.S. consumer price inflation report and two big auctions of long-term Treasury debt, including $39 billion of 10-year Treasury notes.
I’ll discuss this and the rest of today’s market news below. Plus, today’s column explains why Italy’s surprising bond market revival challenges its reputation as a debt outlier and what this means for the rest of the G7.
Today’s Market Minute
* U.S. and Chinese officials said on Tuesday they had agreed on a framework to get their trade truce back on track and remove China’s export restrictions on rare earths, while offering little sign of a durable resolution to longstanding trade tensions.
* Billionaire businessman Elon Musk said on Wednesday he regretted some of the posts he made last week about U.S. President Donald Trump as they had gone “too far”.
* Several U.S. cities braced for protests on Wednesday against Trump’s sweeping immigration raids, as parts of the country’s second largest city Los Angeles spent the night under curfew in an effort to quell five days of unrest.
* Beijing’s restrictions on rare earth exports have exposed the West’s dependency on Chinese supplies of these esoteric metals and the magnets they help power. Part of the solution may be to simply use less of them, says ROI metals columnist Andy Home.
* Seismic shifts in immigration are distorting the U.S. employment picture, making it harder for investors and policymakers to know exactly how much the labor market is actually slowing. Find out more in the latest from ROI markets columnist Jamie McGeever.
U.S.-China framework underwhelms
U.S. markets were underwhelmed by the outcome of the U.S.-China talks, with stock futures slipping back into the red early Wednesday.
Chinese stocks, by contrast, took a more positive view of the London talks and advanced almost 1% to a three-week high. The CSI Rare Earth Index jumped nearly 4%, as Chinese rare earths magnet producer JL MAG Rare-Earth said it had obtained export licences to regions including the U.S., Europe and Southeast Asia for products including magnets, motor rotors and components.
There are currently few details available about the discussions between Washington and Beijing.
U.S. Commerce Secretary Howard Lutnick said the framework puts “meat on the bones” of a stalled agreement in Geneva last month, with the aim of removing restrictions on Chinese exports of rare earths and magnets and some of the recent U.S. export restrictions “in a balanced way”.
But there was no additional information about the sky-high bilateral tariffs imposed – and paused – in recent months. Whatever agreements the two parties came to will now go back to their respective presidents for approval.
In the background, JPMorgan lifted its end-of-year forecast for China’s onshore yuan, citing moderating risks around the trade war and a global theme of so-called de-dollarization.
The U.S. investment bank revised its dollar/yuan target to 7.15 from 7.30, seeing a “gentle downtrend” to 7.10 by mid-2026.
There was better news on the trade front back in the Americas. The United States and Mexico are negotiating a deal to reduce or eliminate Trump’s 50% steel tariffs on imports up to a certain volume, industry sources said late Tuesday. That appeared to underscore the rise in Mexico’s peso this week to its best level since August last year.
Meanwhile, MCSI’s all-country stock index managed to eke out another small gain to hit a new record high, which is impressive given the latest world economic forecasts.
The World Bank slashed its global growth forecast for 2025 by 0.4 percentage point to 2.3%, saying that higher tariffs and heightened uncertainty posed a “significant headwind”.
In its twice-yearly Global Economic Prospects report, the bank lowered its forecasts for nearly 70% of all economies, including the United States, China and Europe, as well as six emerging market regions.
While the World Bank stopped short of forecasting a recession, it said growth this year would be the weakest outside of a recession since 2008. It forecast that GDP growth would average just 2.5% by 2027, the slowest pace in any decade since the 1960s.
Speaking in Beijing, European Central Bank President Christine Lagarde said coercive trade policies will fail to resolve financial imbalances and that the risk of mutual damage is so great that all sides must weigh policy adjustments to resolve the tensions.
Nevertheless, over in the UK, the blue chip FTSE100 rose to within a whisker of record highs set in March as investors awaited UK finance minister Rachael Reeves’ latest government spending review on Wednesday.
Reeves will allocate more than 2 trillion pounds ($2.7 trillion) of public spending to different departments, outlining the government’s priorities for the coming year.
The FTSE was helped by sterling’s swoon this week after softer data on wages and jobs raised expectations for at least two more Bank of England interest rate cuts this year. The pound remained on the backfoot on Wednesday, near its weakest level against the euro in a month.
Elsewhere, Tesla shares climbed more than 2% ahead of the bell after its billionaire owner Elon Musk said he regretted some of the posts he made last week about President Trump.
But domestic U.S. tensions simmered as several U.S. cities braced for protests against Trump’s sweeping immigration raids.
On the economic front, U.S. consumer prices are likely to have increased moderately in May given the relatively low price of gasoline, but tariffs probably started filtering through to other goods, potentially spurring underlying inflation pressures.
Core CPI inflation is expected to have hit 0.3% last month, which would push up the annual core rate to 2.9% from 2.8% in April.
Make sure to check out today’s column, which looks at the remarkable drop in Italy’s bond market risk premium versus Germany’s.
Chart of the day
China holds a near monopoly on rare earth magnets, a crucial component in electric vehicle motors, and its decision in April to suspend exports of a wide range of critical minerals and magnets upended global supply chains. In May, Washington responded by halting shipments of semiconductor design software and chemicals and aviation equipment, revoking export licences that had been previously issued. Two days of talks in London between the two biggest economies attempted to break this logjam.
Today’s events to watch
* U.S. May consumer price report (8:30 AM EDT), US May Federal budget (2:00 PM EDT)
* UK finance minister Rachel Reeves to announce multi-year spending plan
* U.S. Treasury auctions $39 billion of 10-year notes
* U.S. corporate earnings: Oracle
* European Central Bank board member Piero Cipollone and Irish central bank chief Gabriel Makhlouf speak
Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
By Mike Dolan; Editing by Anna Szymanski
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