Summit Notebook

Tax evaders on the run

October 7, 2009

  By Neil Chatterjee
    The U.S. has promised it will hunt down tax evaders.
    And it seems tax evaders are on the run.
    DBS bank, based in the growing offshore financial centre of
Singapore, told Reuters it had been approached by U.S. citizens
asking for its private banking services. But when told they would
have to sign U.S. tax declaration forms, the potential clients
disappeared.  
    Swiss banks also approached DBS on the hope they could
offload troublesome U.S. clients to a location that so far has
not been reached by the strong arms of Washington or Brussels.
    DBS said no thanks. In fact many private banks and boutique
advisors now seem to be avoiding U.S. clients.
    Will this spread to other nationalities, as governments
invest in tax spies and tax havens invest in white paint?
    Is this the end of offshore private private banking?

Global warming: Economic opportunity or not?

September 11, 2009

Stephan Dolezalek, Managing Director of VantagePoint Venture Partners and Tom Werner, Chief Executive of solar power company SunPower, sat down at Reuters’ Global Climate and Alternative Energy Summit in San Francisco and shared their views on global warming, investment and cleantech.

AUDIO – A record-setting blog!

June 22, 2009

Everyone likes to set records. Think about those two giant twins who felt the need to ride motorcycles for their Guinness Book of World Records picture. What were those guys thinking?

Say what? I could have had me a download on my old Nokia?

May 19, 2009
At least 100 million users of Nokia smartphones have been kept in the dark about opportunities to download software applications years before Apple launched its AppStore, says Lee Williams, Executive Director of the Symbian Foundation. ”It’s actually probably one of the biggest marketing mistakes… certainly in the mobile industry, for as long as I can remember,” Williams said at the Reuters Technology Summit.  “Somewhere between 100 and 125 million units have shipped with that capability. There’s been a download facility in 100-125 million phones,” he said.  And who’s ever spoken about it? Does anybody know it’s there?… Maybe 10 percent have ever even loaded a third-party application onto their product.” So is Apple getting credit for other people’s work? “Absolutely. I was laughing out loud when I saw the iPhone OS3 launch,” Williams said, adding that what was tagged as the world’s most advanced mobile OS (operating system) features, Symbian had had for 3-5 years.

Williams did credit Apple with one thing — a knack for design:  ”They pioneered new ground by taking this beautiful display size and doing a display-only product. That was pioneering”.  Symbian software is used in about two-thirds of all smartphones but of course not in the hugely popular Apple iPhone.

No gadgets please, we’re tech executives!

May 18, 2009

Tech managers are not just savvy about new technology but also own the coolest, most cutting edge gadgets, right? Think again, some of them have no use for gadgets at all, finding pleasure instead in century old paintings and (gasp) pen and paper.

from Shop Talk:

Food shortage + financial crisis = bleak outlook

March 19, 2009

The global economic meltdown has the World Bank on high alert.
 
As the financial crisis deepens, the World Bank is issuing even bleaker warnings about rising poverty and hunger in the developing world.  Initially, it estimated that 46 million people in developing countries could be pushed into poverty.  Now, that level is up another 7 million.

from Shop Talk:

Food safety worries? Join the club

March 19, 2009

peanutcorpAre you worried about the rash of high-profile and often deadly tainted-food scandals involving everything from peanut butter and chili peppers to spinach and baby formula?

from Global Investing:

Reuters Funds Summit: A financial Chernobyl

March 18, 2009

The mood in the asset management industry is "very cautious, very realistic but not pessimistic" after the financial industry's "Chernobyl" of Lehman Brothers collapse, according to Europe's fund industry chief.

Feeding America’s six degrees of separation

March 17, 2009

While the six degrees game is tied to Kevin Bacon, connections to other celebrities are helping a major charity.

from Global Investing:

Reuters Funds Summit: Madoff, the silent presence

March 17, 2009

Master-fraudster Bernie Madoff is the invisible guest at an annual fund fest in Luxembourg, the European capital for fund administration.