Word: britain
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...Concerns that a small group of foreigners are controlling much of Britain's wealth has moved the government to change the rules. In October, Chancellor of the Exchequer Alistair Darling announced a proposal to charge foreign residents an annual $60,000 fee beginning in the eighth year of their stay in Britain. The question is, if London's foreign rich follow the money right out of town as a result, can London afford to lose them? Scorpio Partnership's Dovey fears the worst. "They don't have any deep ingrained ties to Britain," he says. "If the economic climate changes...
...with the world's rich come their kids, future soft diplomats who either grow up to study, live and work in London or go back home with lifelong links to the city. "You go to Hong Kong now, and half the top businessmen you talk to were educated in Britain," says Barnaby Lenon, headmaster of Harrow, a top boarding school for boys where 10% of the students are foreigners. "Even if our students don't stay in London, if they're involved in the world of finance, it's going to be indirectly a great help to British business...
...three cities were about to remake the world for the better. In September of 1982, the Hong Kong stock exchange lost a quarter of its value after Margaret Thatcher, flush from her victory in the Falklands War, annoyed the rulers of communist China by foolishly seeming to suggest that Britain might be able to hold on to its colony - which prompted China to insist that it would do no such thing. At the same time, London and New York City were bywords of urban decay. In 1981, London had seen some of the most bitter riots in a century...
...immigrants - of the Irish and the Italians, the Dominicans in Washington Heights, and the scores of other ethnicities that make up Gotham's mosaic. But increasingly, so is London. In 2006, according to the London Labour Force Survey, 31% of the city's residents had been born outside Britain; that compared with 34% of New Yorkers who hailed from outside the U.S. that year. Hong Kong, which barely existed 150 years ago, has always been a haven for migrants fleeing trouble in China. Even in these prosperous times for the mainland, it still has pull. (Visitors from the West...
...attention could be fun--and worth paying up to $1,500 for. Cowher launched Celeb 4 A Day in Austin in November and is expanding to Los Angeles this month and San Francisco in February. There are similar companies, like Private Paparazzi in San Diego and Personal Paparazzi in Britain, and wannabe big shots in other places have taken matters into their own hands, hiring freelance photographers to trail them...