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...TOBACCO 43 Number of U.S. states that have increased tobacco taxes since 2002; state tobacco taxes generated $14.5 billion in revenue last year 7? The country's lowest cigarette tax, imposed by South Carolina, whose Republicans are lobbying to increase it by 50? a pack...

Author: /time Magazine | Title: Verbatim | 4/24/2008 | See Source »

...previous year - has prospered over the centuries by keeping it simple. Two-thirds of its income still derives from providing rock-solid banking services - deposit-taking or loans, say - to its wealthy customers through just a pair of London branches. (Investment or financial-planning advice and help with tax or trust issues bring home the rest.) And with the Hoare family's seven managing partners on the hook for all of the bank's liabilities, there's nothing fancy about its approach to risk. Some 40% of C. Hoare & Co.'s deposits are turned into secured loans...

Author: /time Magazine | Title: Private Banking: Old-School Rules | 4/23/2008 | See Source »

...rough-and-tumble of emerging market politics can pose risks for firms like Telenor. Thailand, Pakistan and Bangladesh have all experienced political turmoil in recent years, but that has posed less trouble than unexpected tax increases. Operators were forced to subsidize a 2005 levy imposed on the sale of SIM cards in Bangladesh, for instance. And in Grameenphone's case, work with its local partner hasn't always been straightforward for Telenor. The Norwegian firm owns 62% of Grameenphone, with Grameen Telecom - part of the bank founded by Bangladeshi Nobel Peace Prize winner Muhammad Yunus - owning the rest. Yunus claims...

Author: /time Magazine | Title: Long-Distance Calling | 4/23/2008 | See Source »

...stepped down after being indicted last week on charges of tax evasion and breach of fiduciary trust. Lee's son also resigned from his post at the company. "I have regrets," Lee said in a brief televised address broadcast on national TV. "But I think this is time for me to leave, taking all the mistakes of the past with me." Lee said he would "take full responsibility, both moral and legal...

Author: /time Magazine | Title: Samsung's Chairman to Resign | 4/22/2008 | See Source »

...distinguish between an Iranian Kurdish sumac and an Azeri kilim, there's little chance that I'm going to outfox a merchant with years of experience and generations of rug traders in his blood. One way or another, I'm going to have to pay the pink-face tax. So play your own game: If the rug works for you, it's a good...

Author: /time Magazine | Title: How to Buy an Oriental Rug | 4/18/2008 | See Source »

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