Butterfield Bank yesterday announced it had raised $550 million of new capital from mostly foreign investors and replaced Alan Thompson as chief executive officer.
The news came as the bank declared a...
Butterfield Bank is in talks with institutional investors to raise a “significant” amount of new capital.
The bank made the announcement this morning, shortly after the Bermuda Stock Exchange suspende...
Butterfield Bank has obtained $550 million in new capital from several institutional investors and has replaced chief executive officer Alan Thompson.
As it announced a $213 million loss for 2009, the...
Butterfield Bank's current share price makes it ripe for takeover — and it would be a "good fit" for one of the top Canadian banks.
That is the view of Jeremy Dyck, an investment adviser with LOM Secu...
Finance Minister and Deputy Premier Paula Cox reiterated yesterday that she is just a "cog in the wheel" of Government after a leading businessman suggested that she was rather more than that.
Speakin...
Higher employment costs for companies resulting from the payroll tax increase announced in Friday's Budget are likely to result in higher prices for consumers, according to one prominent local boss.
C...
Billionaire investor Wilbur Ross has sold his entire 8.9 percent stake in Montpelier Re Holdings Ltd. back to the Bermuda reinsurer.
Montpelier announced after the close of regular New York Stock Exch...
Government has raised its statutory debt ceiling to $1.25 billion — up 25 percent.
Bermuda governments have traditionally tried to keep the limit inside 10 percent of gross domestic product, but the l...
Government is expecting the Island's economy to come out of recession and grow by up to one percent in the coming year, after it shrank by an estimated 2.5 percent last year.
According to the outlook ...
Payroll tax is to rise two percent to 16 percent, Finance Minister Paula Cox announced in her Budget statement this morning.
Government has also raised its debt ceiling by 25 percent to $1.25 billion,...
