Rocha, 77, a member of Mexico’s ruling Morena party, said he was resuming his duties after Mexican authorities found no evidence to support the accusations against him
International News via Reuters:
The governor of Mexico’s Sinaloa state, Ruben Rocha, returned to office on Friday after taking leave for more than three months following U.S. drug trafficking charges alleging ties to the Sinaloa Cartel, a move likely to deepen strains between Mexico and the United States.
Rocha, 77, a member of Mexico’s ruling Morena party, said he was resuming his duties after Mexican authorities found no evidence to support the accusations against him.
In a statement posted on X, Rocha denied wrongdoing and cast the U.S. case as a politically motivated attack on Mexico’s sovereignty and on the leftist movement led by President Claudia Sheinbaum.
The U.S. State Department did not immediately respond to a request for comment.
Mexico has so far declined to act on U.S. efforts to bring Rocha into custody, saying Washington has not provided sufficient evidence to justify domestic arrest warrants or extradition.
For U.S. officials, the April indictment marked a rare expansion of anti-cartel action beyond drug bosses to include a sitting senior Mexican politician.
U.S. prosecutors alleged Rocha and nine other current and former officials conspired with a faction of the Sinaloa Cartel known as Los Chapitos, helping it traffic drugs into the United States in exchange for political support and bribes.
Rocha has repeatedly denied the allegations. He stepped aside temporarily in early May as Mexican authorities reviewed the case, and said on Friday he was returning with his “head held high.”
Reporting by Diego Ore and Kylie Madry; Editing by Daina Beth Solomon
The Brent benchmark has gained more than 6% while WTI has risen more than 5% this week, with both touching their highest since July 24 in the previous session
International News via Reuters:
International and U.S. crude futures rose on Friday after U.S. President Donald Trump threatened economic sanctions on Iran’s trading partners, raising expectations of tighter supply in the coming weeks.
International benchmark Brent crude futures <LCOc1> rose 8 cents, or 0.09%, to $93.86 a barrel by 10:40 a.m. CDT (1540 GMT). U.S. West Texas Intermediate crude <CLc1> was up 16 cents, or 0.18%, at $86.99.
The Brent benchmark has gained more than 6% while WTI has risen more than 5% this week, with both touching their highest since July 24 in the previous session.
“Sanctions have been the only thing to bring Iran to heel,” said John Kilduff, partner with Again Capital.
Iran said on Friday that its response to any new U.S. threats would be “devastating” after Washington pledged to impose the toughest financial penalties in history with the aim of toppling the Iranian leadership.
“The immediate impact on supply may be limited as Iranian exports are already heavily constrained by the U.S. naval blockade,” said Crispus Nyaga, research analyst at Empire FX.
“However, an increase in shipping incidents and retaliation against economic sanctions could exacerbate the current situation at a time when traffic through the Strait of Hormuz remains well below normal levels.”
Oil prices have climbed on concerns over the continued curtailment of supply from major oil producers such as Saudi Arabia, Iraq, the United Arab Emirates and Kuwait.
The earlier peace deal between the U.S. and Iran expired this week with no effort by either side to restart talks.
Offers of Iranian crude to Chinese buyers have declined and prices have jumped this week as the U.S. blockade cuts Iran’s shipments, trade sources said, with the threat of more sanctions from Washington looming.
SUPPLY DISRUPTION CONTINUES
Seven commodity ships sailed along the Strait of Hormuz on Thursday, which was only half the previous day’s tally, data from ship-tracker Kpler showed.
Before the U.S.-Israeli attacks on Iran began in late February, the Strait of Hormuz handled about a fifth of global oil and liquefied natural gas supplies. As the war approaches the six-month mark, disruptions to energy flows through the waterway remain in place.
Elsewhere, Ukraine’s military hit a Russian oil refinery in the city of Perm overnight, more than 1,600 km (1,000 miles) from the Ukrainian border, President Volodymyr Zelenskiy said on Friday.
Reporting by Erwin Seba in Houston, Anushree Mukherjee in Bengaluru, Enes Tunagur in London and Sudarshan Varadhan in SingaporeEditing by David Goodman and Sanjeev Miglani
The wider litigation includes England’s 2003 World Cup winners Steve Thompson and Phil Vickery among almost 800 former rugby union players suing over neurological injuries they say were caused by repeated blows to the head
International News via Reuters:
World Rugby and four British governing bodies lost an attempt on Friday to end concussion lawsuits involving more than 500 former rugby union and league players, after London’s High Court ruled the cases could continue.
The wider litigation includes England’s 2003 World Cup winners Steve Thompson and Phil Vickery among almost 800 former rugby union players suing over neurological injuries they say were caused by repeated blows to the head. More than 300 former rugby league players are also taking legal action.
The governing bodies asked for a ruling which would end the cases of more than 500 former professional and amateur players over both codes.
World Rugby, the Rugby Football Union and the Welsh Rugby Union, plus the Rugby Football League and the British Amateur Rugby League Association, argued the claimants’ former lawyers had repeatedly failed to provide medical records.
But lawyers representing the claimants argued they had provided the vast majority of the documents required and stressed the litigation’s wider importance for contact sports in the UK.
Judge Jeremy Cook said in a written ruling that the cases could continue subject to the production of the missing documents, adding that the “individual claimants are blameless”.
In a joint statement, World Rugby, the RFU and the WRU said they hoped that the litigation could now move forward “in the best interests of the players and the sport.”
KP Law, the claimants’ new legal representatives, described the ruling as “a significant step” for the former players.
“Our priority is to support our clients with the care and sensitivity these issues demand, and this outcome reinforces our determination to hold the defendants to account,” KP Law said in a statement.
The case began in 2022 but has been dogged by delays over disclosure, as has a parallel action by ex-rugby league players.
The ex-players say repeated concussive and sub-concussive blows left them with serious neurological conditions and allege the governing bodies breached their duty of care by failing to protect them from those risks.
The governing bodies, however, dispute that there is, or was, any such duty of care that extended to include the long-term risk of serious neurological conditions, and World Rugby argued in its written defence that injuries are an “inherent risk” in rugby.
Reporting by Sam Tobin and William James; Editing by Sam Tabahriti and Toby Davis
The central bank was looking closely at the impact of AI on prices, saying it could have an effect in both directions, Tschudin told newspaper Finanz und Wirtschaft
International News via Reuters:
Artificial intelligence can push inflation higher in the short term although the overall effect of the technology remains unclear, Swiss National Bank governing board member Petra Tschudin said in an interview published on Friday.
The central bank was looking closely at the impact of AI on prices, saying it could have an effect in both directions, Tschudin told newspaper Finanz und Wirtschaft.
“Investment flows are being partly redirected, which can mean adjustments and difficulties for the rest of the economy,” Tschudin said.
“Shortages can occur, for example with chips, causing prices to rise. In the short or medium term, therefore, upward inflationary pressure can also arise.”
In the longer term artificial intelligence could also lower prices by increasing productivity and making goods cheaper, she said.
But because inflation was calculated on an annual basis, to have a deflationary effect, this price decline would have to repeat itself regularly, she said.
“Is that realistic? Productivity gains as such are not a new phenomenon. They do not, by themselves, lead an economy into structural deflation,” Tschudin said.
On Thursday, the International Monetary Fund’s new chief economist Silvana Tenreyro also warned in research published by Bank of England staff that even if artificial intelligence boosts productivity, it may not lower inflation.
In its latest forecast the SNB does not see inflation above or below its target range for annual price rises of 0% to 2% in the period up to the first quarter of 2029.
Still, Tschudin said this should not be seen as a forecast the central bank will not change its policy interest rate, which currently stands at 0%.
Instead the forecast was based on how the central bank saw inflation if interest rates remained unchanged.
“If there is new relevant information about inflation, we adjust monetary policy,” Tschudin said.
“The conditional inflation forecast should not be understood to mean that interest rates will remain at their current level for three years. We do not publish interest rate forecasts.”
Reporting by John Revill; Editing by Kirsten Donovan
This week, Shara explores the importance of using the right healthcare tools at the right time, emphasizing a holistic approach that integrates modern, traditional, and lifestyle medicine and how different systems serve different needs throughout our health journey.
The Bermuda Lawn Tennis Association (BLTA) has officially announced that tickets are now on sale for the 2026 Davis Cup World Group II tie between Bermuda and Mexico. Marking the long-awaited return of international team tennis to local shores after 30 years, the high-stakes match will take place at the W.E.R. Joell Tennis Stadium on September 19–20, 2026, as Bermuda’s squad featuring Daniel Phillips, Trey Mallory, Wayne Montgomery, Tariq Simmons, and Zach McGuire, led by Coach Richard Mallory, take to the court against Mexico.
Governed by World Tennis (formerly the International Tennis Federation), the Davis Cup is the world’s premier international men’s team tennis competition. Local tennis enthusiasts and sports fans will have the opportunity to cheer on Team Bermuda as they compete against a strong Mexican squad in one of the most significant sporting events on the island’s 2026 calendar.
Ticket Options & Pricing
Daily General Admission: Grants entry for a single day of match play (Saturday, Sept 19 or Sunday, Sept 20).Seating is first come, first served.
Adult (16+) $35.00
Youth (5 – 15 years old) $15.00
Weekend Pass: Full access to both days of competition at a discounted rate.
Adult (16+) $60.00
Youth (5 – 15 years old) $25.00
VIP / Hospitality Access: Single day purchase – includes elevated viewing deck, access to the hospitality pavilion, and complimentary refreshments (bar & food).
Adult (18+) $225.00
“The response and enthusiasm from the community since confirming our home tie against Mexico has been tremendous,” said Michael Wolfe, President of the Bermuda Lawn Tennis Association. “With stadium capacity limited for an international tie of this magnitude, we encourage fans to secure their tickets early. Hosting the Davis Cup after three decades is a landmark moment, and we look forward to filling the stands with the lively sights and sounds of our national pride, in support of our players.”
The event is brought to the community through the support of the tie’s Lead Sponsor HSBC Bank Bermuda Ltd., the Government of Bermuda, and the Bermuda Tourism Authority (BTA). Match play will begin at 11:00 AM on both days, with gates opening one hour prior. In addition to top-tier tennis, spectator experiences will feature local food and beverage vendors. The BLTA encourages spectators to ‘bring the vibe’ with horns, whistles, and a lot of energy to cheer on the Bermuda’s team between points. They also strongly recommend dressing for the elements and to wear sunscreen given the outdoor nature of the venue.
For more information, schedule updates, or to purchase tickets, visit www.blta.bm or www.bdatix.bm.
Statement by Linda Smith, Shadow Minister of Seniors, Environment & Sustainability:
August 21st is World Senior Citizens Day, so it seems appropriate to take inventory and see how we are doing.
Seniors make up about 26% of our population. They comprise a majority of Financial Assistance recipients and are often the cause of bed shortages at our hospital.
That said, let’s be clear – this is not the fault of our seniors– it is fault of our society.
For decades, demographic projections have warned of an upcoming tsunami of challenges we would face as 25% our population enter their senior years requiring access to more healthcare services, appropriate housing, long-term care, nursing facilities, legal public protections and financial assistance.
Over the past several years, there have been many initiatives but few tangible deliverables to provide what is needed when it comes to dealing with the problems we now see – and all saw coming.
In April 2022, a former PLP MP was appointed to lead a $60,000 project to produce a paper on establishing an office of the public guardian for seniors. It’s 2026 and there is still no progress.
Regularly, hospital beds that should be available for admissions from the emergency department and for elective surgeries are occupied by non-medical patients, specifically seniors, many of whom are ready to be discharged but need adequate community medical supervision and services, which are woefully unavailable.
The lack of respite and community long-term facilities has now led to a call by the Bermuda Health Council for property owners to consider converting their premises to facilities for seniors’ services. These include rehabilitation, long- term care, and nursing homes to provide essential services to an ageing population, while easing the crisis of our overcrowded hospital.
Recently, there has also been much discussion about the expanded role that Advanced-Practice Nurses (APNs) could play in helping to deliver essential healthcare.
I am not going to weigh-in on the medical arguments for or against expanding the role of APNs in Bermuda, as APNs are not a unique concept and those arguments can be resourced elsewhere. However, I do believe that where there is an urgent need – as we see today, there should also be a deliberate will to make improvements that are within reach.
Given the complex issues we face today, no aspect of our medical service provision should be looked at in isolation. Our problems are clearly systemic. Often with collaborative, well thought out changes in one area can yield benefits across a linked-up chain of activities and services, incrementally improving overall results.
I believe that finding a way to enabling APNs to work at their optimum could be an asset in helping to solve many issues affecting our health care system. If seniors requiring certain levels of medical supervision and treatment could be serviced at home and/or within the community by APN visits, it would free up hospital facilities and could improve healthcare affordability within a significant segment of our community.
Perhaps it’s time to ease up on developing and talking about initiatives, and time to find the fortitude and energy to make incremental changes that can bring tangible benefits and improve people’s lives.
The Department of Culture will host a special youth edition of its annual Cultural Connect stakeholder event this Saturday from 2:00 p.m. to 4:00 p.m. at Pig’s Field, Band Room Lane, Pembroke, bringing young people, families and community groups together for an afternoon celebrating Bermuda’s culture. The free event will feature performances by Aalai, Fire Wayne and H&H Gombeys, hosted by Mr. Fotogenik, with music by DJ Mico.
Minister of Tourism & Transport, Culture & Sport, the Hon. Owen Darrell, JP, MP, said, “Culture lives and grows through our young people, and this year’s Cultural Connect is about giving them a meaningful space to engage, participate and help shape Bermuda’s cultural future. We also want to bring generations together, because culture is strongest when we share it, celebrate it and pass it on.”
Attendees can enjoy free hamburgers, hotdogs, snowballs, popcorn and Ashley’s Lemonade, while supplies last. The afternoon will also include a fun castle, crafts and activity stations led by The Office of Youth Affairs (TOYA), the Bermuda National Library and other community groups, offering activities for children, youth and families.
Cultural Connect traditionally serves as the Department’s annual stakeholder meeting, but this year’s youth edition places the next generation at the heart of the conversation. The Department looks forward to welcoming the community for an afternoon of music, entertainment, creativity and cultural connection.
Mangrove Property Insurance Company (Mangrove) celebrated the launch of Buttonwood Re Ltd., Mangrove’s inaugural catastrophe (cat) bond, with a bell ringing ceremony at The Bermuda Stock Exchange (BSX) on Tuesday, August 18.
Mangrove’s debut in the insurance-linked securities (ILS) market occurred in June with Buttonwood Re (Series 2026-1) securing $111 million of fully collateralized reinsurance protection to support Mangrove’s continued growth and to provide multi-year, capital efficient coverage for Florida named storm risk.
“We’re delighted to be listed on the BSX and were honored to participate in the bell-ringing ceremony,” said Mangrove founder and CEO Stephen Weinstein. “Bermuda is the global hub for cat bonds, and the BSX is substantially the global leader for cat bond listings.”
During the bell-ringing ceremony, BSX President and CEO Greg Wojciechowski congratulated Weinstein for making Bermuda Buttonwood Re’s home and presented him with a trophy as a token of appreciation.
The bell-ringing ceremony for Buttonwood Re helped mark an important milestone for Mangrove as the company is setting new standards for risk transfer for a Florida homeowners insurer, and as it continues with its strategic intention to be an optimal, long-term partner for reinsurers and ILS investors.
“We were very pleased by the market reception of our Buttonwood Re transaction, which provides important new protection for Mangrove policyholders with efficiently structured multi-year and aggregate cover. We also effected a strategic expansion of our capital partner roster, with Buttonwood supported by more than 20 investors, most of whom were new capital partners for Mangrove.”
ABOUT MANGROVE: St. Petersburg, Florida-based Mangrove Property Insurance was launched in January 2025, to offer admitted homeowners’ insurance in Florida. Through partnerships with local independent agents in all 67 Florida counties, Mangrove is committed to providing sustainable, long-term capacity tailored to Florida’s unique market. Mangrove is rated “A, Exceptional,” by Demotech, Inc. For more information about Mangrove, including agency appointment requests, visit Mangrove-FL.com.
GfK’s Consumer Confidence Index rose to -14 from -17 in July, against expectations in a Reuters poll of economists for a fall to -18
International News via Reuters:
British consumer morale jumped to a two-year high this month as households became more confident about making major purchases, a survey showed on Friday that added to a run of unexpectedly strong economic data.
GfK’s Consumer Confidence Index rose to -14 from -17 in July, against expectations in a Reuters poll of economists for a fall to -18.
“With inflation back on the rise … and with continued uncertainty in the Middle East and elsewhere, there are still many challenges ahead that will test the mettle of UK consumers,” said Neil Bellamy, consumer insights director at GfK.
• All but one of the survey’s five key sub-indexes rose in August
• GfK’s gauge of confidence for making major purchases rose to its highest level since December 2021
• Personal financial confidence for the next 12 months rose to its highest level since January, while economic expectations rose to a two-year high
• Other consumer confidence surveys from YouGov/Cebr, BRC-Opinium, Barclays and LSEG/Ipsos have all shown increases over the last month
• GfK’s survey, which dates back to 1974, was based on 2,000 adults polled between July 30 and August 12
Reporting by Andy Bruce; editing by David Milliken
Overall, the S&P Global flash PMI surveys for August released on Friday suggested the 21-country economic bloc has remained resilient this quarter despite disruptions from the U.S.-Israeli war on Iran
International News via Reuters:
Euro zone business activity is growing at its fastest pace this year thanks to stronger new orders, particularly in manufacturing, and renewed export growth, according to business surveys which also showed easing price pressures.
Overall, the S&P Global flash PMI surveys for August released on Friday suggested the 21-country economic bloc has remained resilient this quarter despite disruptions from the U.S.-Israeli war on Iran, after expanding 0.4% in the second quarter.
S&P Global’s Flash Euro zone Composite PMI Output Index reached its highest since November this month, edging up to 52.1 from 52.0 in July, beating a Reuters poll forecast of 51.7. Readings above 50 indicate growth.
Final data have come out better than the initial flash readings for the past five months, suggesting the PMI may even be higher by the end of the month.
New orders, a key gauge of demand, have risen at their fastest rate in 40 months, while export orders, which include trade between euro zone nations, have increased for the first time since Russia invaded Ukraine in February 2022.
“So far, the impact (of the Iran war) has been far from devastating … the euro zone economy has been quite resilient so far, and momentum remains surprisingly decent. The third quarter seems set for a decent GDP growth print again, firmly ignoring current events,” said Bert Colijn at ING.
Colijn said, “with oil prices above $90 per barrel again and interest rates having repriced higher in recent weeks, the factors slowing growth and pushing up inflation for the months ahead are clear.”
The factory PMI has risen this month to a more than four-year high of 52.8 from 51.9, beating the poll estimate of 51.8. Output growth has hit its strongest level in 54 months.
Services activity has held steady after July’s rebound, with the PMI unchanged at 51.7, defying forecasts for a slowdown.
Activity in Germany, the bloc’s largest economy, has expanded modestly as an upturn in manufacturing offset a sharper decline in services activity.
However, in France, activity has contracted more than expected as recent heatwaves hit the country’s dominant services sector.
Separate data for Britain showed growth has hit a four-month high on a bigger-than-expected rise in services activity despite a slowdown in factory expansion.
Employment in the common currency bloc has risen for the first time this year as manufacturers resumed hiring after more than three years, while services employment has grown at the fastest pace in eight months.
Price pressures, although still high, have continued to ease, with input cost growth at its slowest in six months and output price inflation easing to a five-month low.
That was in line with a European Central Bank poll which showed consumers trimmed their inflation expectations for the third month on the trot in July.
But doubts remain about whether inflation, at 2.9% in July, will return to the ECB’s 2% target anytime soon.
The ECB is expected to raise rates for a second time this year next month, a Reuters poll of economists forecast last week.
Claus Vistesen at Pantheon Macroeconomics said “near-term risks are tilted towards headline inflation surging past 3% and reaching just under 4% by the end of the year.”
“The net result for the ECB, we think, is that the Bank will stay the course and hike by 25bp in September before pausing,” he added.
Despite encouraging data, firms were less optimistic about the year-ahead outlook and sentiment remained lower than the series average.
Reporting by Indradip Ghosh; Editing by Hugh Lawson
The S&P Global Flash UK Services Purchasing Managers’ Index rose to a six-month high of 52.8 in August from 52.1 in July
International News via Reuters:
Britain’s services sector, the engine of its economy, perked up unexpectedly this month, according to a survey on Friday that added to signs of resilience despite the conflict in the Middle East.
The S&P Global Flash UK Services Purchasing Managers’ Index rose to a six-month high of 52.8 in August from 52.1 in July. That was above all the forecasts in a Reuters poll that had pointed to a fall to 51.8.
Companies cited improving domestic conditions — a picture backed by news earlier in the day that consumer confidence rose this month to its highest level since August 2024, shortly after the Labour government was elected under Prime Minister Keir Starmer.
Friday’s surveys added to signs of surprise strength in the economy, a bonus for Starmer’s successor Andy Burnham and for finance minister John Healey, who hope to defy forecasts for a slowdown after robust economic growth in the first half of the year.
Data company S&P Global said its figures were consistent with economic growth of around 0.3% in the third quarter, which would approach the outturn in the second quarter.
“The expansion is being helped by sunny weather and tech investment, though as expected we have seen some softening of growth in the manufacturing sector as precautionary stock building cools,” said Chris Williamson, chief business economist at S&P Global.
Official data last week also pointed to strong tech investment as the AI boom increasingly makes itself felt in Britain’s economic performance.
The flash PMI’s gauges of input and output prices partially rebounded this month after falling in July, reflecting a rise in global energy prices over the last few weeks, with no sign of the Iran war nearing an end.
Employment in the services sector continued to decline, albeit at the slowest pace since last October.
“The data suggest the Bank of England looks likely to keep a hawkish bias but will stay cautious, holding off any rate hikes until the growth and inflation trajectories become clearer,” Williamson added.
Despite the uncertainty, optimism among services companies hit a seven-month high this month.
The PMI for the manufacturing sector cooled to a five-month low of 51.5 in August, as expected, from 51.9 in July.
The composite PMI, which combines manufacturing and services, rose to a four-month high of 52.5 from 52.2, against expectations for a fall to 51.6.
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