Word: riche
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...world's billionaires, 17 of Britain's 41 billionaires are foreigners. They're drawn to the country in part by a tax break that exempts anyone born outside Britain from paying a 40% income tax on their overseas earnings. Few countries are as generous toward their foreign rich, and figures from the Treasury show that the number of people claiming tax-exempt status in the 2005-06 tax year was 114,000, almost double what it was 10 years...
...this love affair between the global rich and London isn't just about saving a few thousand bucks - after all, the weather's better in Monaco. When Scorpio Partnership, a wealth management-strategy think tank, asked affluent clients why they chose London over, say, New York City, Paris or Munich, the good reputation of Britain's schools, the country's political stability, the growing pool of talent in the financial-services sector and historical ties to Britain were frequently offered reasons. "Another thing is the legitimacy, particularly for foreigners coming from emerging markets like Russia," says managing partner Sebastian Dovey...
...driven inflation has hit liquid assets as well. At the London International Vintners Exchange, an online marketplace for fine wines, managing director James Miles has watched prices for the top Bordeaux double over the past two years, driven in part by wealthy foreigners. "These guys all aspire for the rich man's toys, which doesn't just mean having boats and fast cars, but also having a great cellar," he says. A 12-bottle case of 2000 Chateau Lafite Rothschild that sold for $8,800 in 2005 cost $20,000 last year, while a case of Chateau Petrus that went...
...signals-if only as a result of proximity. Scent is amplified up close, as are sounds and breaths and other cues. And none of that begins to touch the tactile experience that was entirely lacking until intimate contact was made. "At the moment of a kiss, there's a rich and complicated exchange of postural, physical and chemical information," says Gallup. "There are hardwired mechanisms that process all this...
...happy to see that Chinese President Hu Jintao was a runner-up. I think China has been transformed by Deng Xiaoping's exhortation that "to get rich is glorious," but it is Hu who would like to create a more equitable society by narrowing the gap between rich and poor to create a harmonious society in which every Chinese can share in the wealth of economic growth. Hu has successfully built a good image of China's peaceful rise and expanded China's reach around the world during the past five years. His confidence and wisdom in handling internal...