Monday, 23rd November 2009

 

4 November 2009 - Press Briefing

Hedge-fund billionaire triumphs in $27m tax case

A judge at New York’s Division of Tax Appeals last month rejected the local tax department’s argument that hedge-fund billionaire Julian Robertson owed the state $27m (€18.3m) in taxes for the year 2000, according to a report in The Wall Street Journal.

The lengthy verdict followed a successful argument by Robertson that he wasn’t a New York City resident for the year 2000 and didn't owe city taxes. The scale of Robertson's tax bill - based on the then top New York City tax rate of 3.78% - indicated that the legendary financier had taxable income exceeding $700m.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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