Latest news with #Swiss-born
Yahoo
2 days ago
- Business
- Yahoo
Starmer's Britain is good at only one thing: driving out the wealthy and ambitious
It doesn't lead the world in developing new technologies such as Artificial Intelligence. It isn't breaking new ground in science, technology, or even in music, literature or fashion. Still, Sir Keir Starmer's Labour Britain is at least leading the world in one respect. It has become better than anywhere else at driving out the wealthy, the young, and the ambitious. There is just one catch. The Government doesn't appear to have any ideas on how to stem the exodus, nor how to replace all the tax revenues that will leave with them. The evidence that money and talent is fleeing Britain is becoming more alarming all the time. Guillaume Pousaz, Swiss-born billionaire founder of fintech giant Checkout, has become the latest to leave. We learned this week that he has shifted his tax residency from Britain to Monaco, following the decision by the Chancellor Rachel Reeve to abolish the non-dom rule that allowed wealthy foreigners to limit their tax bills in the UK. He joins the likes of the billionaire steel tycoon Lakshmi Mittal and the senior Goldman Sachs banker Richard Goode in getting out of the country. Over the last year, an estimated 10,000 millionaires have left the UK, according to Henley & Partners, second only to Russia, and the real total may be even higher. But it is not just a handful of the super-rich who are getting out. The young and ambitious are increasingly leaving for the Gulf States such as Dubai or Qatar, for Australia, where the youth mobility scheme allows them to live or work, or for the United States, if they can get a visa. Likewise, the 'Henrys', or 'High Earners, Not Yet Rich' are fleeing as well. It is not hard to understand why. The non-dom crackdown has created one of the most punitive tax regimes in the world for foreigners. They are now subject not just to our income taxes, but to inheritance tax at 40 per cent on their global assets, as well as capital gains tax if they sell their company. Many simply have to leave or face financial ruin. Likewise, frozen thresholds and tapered personal allowances now mean many successful self-employed or young professionals face marginal tax rates of 70 per cent or more on their earnings (and even more if they are crazy enough to live in Scotland). Perhaps worse of all, the dire state of the public finances means that everyone knows there is far worse to come over the next two or three years, with taxes rising relentlessly to pay for soaring welfare bills and public sector wages. The only rational decision is to get out while you still can. A desperate Labour Chancellor – perhaps an Angela Rayner-type – may even impose an exit tax, as other countries have tried to. It is catastrophic for any country to lose its wealthiest, most energetic, talented, ambitious, and hardest-working people. They drive investment, innovation, and entrepreneurship. More than any other group, they create the wealth that allows the country to flourish. But it is especially catastrophic for Britain. The reason is simple. Over the last thirty years, we have narrowed our tax base, so that the Government is very dependent on a small group of people. The top 1 per cent now pay 28 per cent of the total for income tax, and the top 10 per cent pay 60 per cent of the total. For capital gains tax, dividend taxes, and corporation tax the percentage will be even higher. As they leave, the revenue collected will collapse. Even worse, as the exodus gathers steam, the Government is doing precisely nothing to stop it. Any rational government, faced with losing 30 per cent of its tax revenue, would be frantically finding ways of persuading them to stay. Instead, Labour is complacently watching them leave, as if it makes no difference. It is going to prove a very expensive mistake – because the UK will find it very hard to get all those people back once they have left. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
3 days ago
- General
- Yahoo
Harvard settles lawsuit over enslaved ancestor images
Harvard University has agreed to settle a deeply emotional dispute over who has the rights to images of enslaved Africans taken in 1850 by a professor who sought to support a racist theory. The daguerrotypes, a precursor to modern photographs, are considered to be the earliest known images of Black American slaves, who were posed nude and semi-nude "without consent, dignity or compensation," a 2019 lawsuit stated. The Cambridge institution has agreed to relinquish the images and has offered plaintiff Tamara Lanier a confidential monetary settlement. Lanier says she is a descendant of a slave known only by his first name, Renty, who was photographed nude, and his daughter Delia, who was photographed nude from the waist up, in images commissioned by Harvard biologist Louis Agassiz as supposed evidence of Black inferiority. The images were taken in South Carolina, and Lanier is advocating for them to be transferred to the International African American Museum there. Lanier accused the university of using them for advertising and commercial purposes, and denounced the use of Renty's image on a cover of a $40 anthropology book it published in 2017. "Since Black Americans were first brought to this country in chains, our pain and trauma have been exploited for capitalistic gain," said Lanier. Lanier claimed rights to the images 15 years ago, but Harvard has long-disputed the claim that she is Renty's great-great-great-granddaughter. "As descendants of slaves, familial history and well-documented genealogy are a luxury that many Black Americans do not have," Lanier said, who relied on her family's oral history to determine the connection in lineage. In a statement on the settlement, Harvard said they have "long been eager" to steward "the daguerrotypes in a responsible manner." In his time Agassiz, a Swiss-born biologist, was a renowned scientist who worked in geology. But Lanier's attorney Ben Crump said Agassiz also supported polygenism, which was "used to justify both the ongoing enslavement of Black people prior to the Civil War and their segregation afterward." The daguerrotypes were in the possession of Harvard's Peabody Museum of Archaeology and Ethnology to date. "Harvard played a role in the darkest chapter in American history," Lanier said. "This is a small step in the right direction towards fully acknowledging that history and working to rectify it." The stain of Agassiz's work has been controversial elsewhere, too. He had an elementary school named after him near Harvard -- but local residents successfully demanded the name be changed to honor a long-serving Black principal Maria Louise Baldwin in 2002, citing his scientific racism. arb/gl/sla/jgc
New Straits Times
5 days ago
- Sport
- New Straits Times
Cape Verde to use M-League connection to beat Malaysia
KUALA LUMPUR: Cape Verde are counting on their M-League connection against Malaysia in two international friendlies in Kuala Lumpur. The African side, ranked 72nd in the world, will face Harimau Malaya at KLFA Stadium on Thursday and on June 3 at the National Stadium (behind closed doors). Among their key players is Selangor forward Alvin Fortes. The Netherlands-born Fortes has 11 caps with Cape Verde. Newcomer Stephane Cueni, a Swiss-born midfielder who recently completed his nationality switch, was also named in the squad, The Blue Sharks are using the matches against Malaysia as preparation for their World Cup qualifiers in September. They currently lead Group B after defeating Mauritius 1-0 and Angola 2-1 in March. Their squad include European-based players Logan Costa (Villarreal), Deroy Duarte (Ludogorets), and Steven Moreira (Columbus Crew).
Daily Mirror
19-05-2025
- Sport
- Daily Mirror
History-making jockey left 'completely' stunned after positive drugs test
Sibylle Vogt, the first woman to win a Classic in Germany, said in a statement that she had never had any contact with drugs or illegal substances A trailblazing female jockey has been left "completely shocked" after testing positive for cocaine. Sibylle Vogt, who is Swiss-born but is based in Germany where she works for Arc-winning trainer Peter Schiergen, became the first woman to ride a Classic winner when capturing the German 1,000 Guineas on Novemba in 2021. In the 2025 season she has ridden 17 winners which has put her third in the German Flat jockeys' championship. But her campaign has been upended by the results of a routine drug test taken while she was riding at Compiegne in France in March this year. According to the Galloponline website, a sample taken from Vogt tested positive for cocaine. The result of a test of a B sample has yet to be confirmed. Vogt, who has ridden 371 winners, was last week picked for the Europe team due to ride at the Dubai Duty Free Shergar Cup meeting at Ascot in August. She said: "The news has completely shocked me. I can't, for the life of me, explain how this outcome could have come about. Throughout my entire career—and beyond—I have never had contact with drugs or other illegal substances. "I don't suffer from any weight problems and am very satisfied with my current professional situation at the Asterblüte stable." She continued: "I'm currently doing great in terms of sports, and there's no reason to distract myself in any way. I celebrated my 30th birthday a week before, on March 23rd – it was a lovely, carefree evening in private. Neither I nor my guests nor my family had any contact with drugs. 'I take this matter extremely seriously, immediately had voluntary tests conducted, and am working transparently with the relevant authorities in France and Germany. 'I have hired a French lawyer to clarify the legal situation and sincerely hope that this nightmare will soon be resolved." Schiergen, who trained Danedream to win the Prix de l'Arc de Triomphe in 2011, said he was right behind Vogt. "The news came completely unexpectedly,' he said. 'Everything has been going very well recently. Sibylle has made it clear to me that she has had no contact with cocaine. Now we need to stick together as a team, wait and see, and support her as best we can."
Irish Independent
13-05-2025
- Sport
- Irish Independent
Olympians change course to launch European bids
McCarthy, who won gold in the lightweight double in both Tokyo 2020 and Paris 2024 partnering Paul O'Donovan, teams up with Konan Pazzaia in an openweight double scull. Lightweight rowing is no longer an Olympic discipline, and O'Donovan, who is not competing in Plovdiv, has also moved up to heavyweight rowing. Pazzaia (23) is Swiss-born, but has an Irish mother and has been studying at Queen's University, Belfast. He won gold for Ireland at the World Under-23 Championships in 2023 in the double. Murtagh (29) switches to the single sculls from the crew boats in which she has had a remarkable record. The Galway woman took a bronze medal in the four at Tokyo 2020 and eighth place in Paris 2024 in the pair. She won European Championship medals in 2020 and 2021. The single is one of the most demanding of all rowing classes. Murtagh takes up the mantle of the retired Sanita Puspure. Lynch and Doyle took bronze in Paris in the double sculls. Doyle, a doctor, switches into a quadruple scull, while Clonmel-man Lynch, who is now studying medicine in UCD, teams up with Fermanagh's Ross Corrigan in a pair. Mags Cremen and Zoe Hyde, both Olympians, team up in a new women's double, and the Ireland team is completed by lightweight double scullers Izzy Clements, new to the Ireland team, and Jake McCarthy. The Ireland coaching system has also been revamped. Dominic Casey is now interim high performance lead coach and three new coaches have been recruited: Denise Walsh, a former Ireland international and a coach and mentor at Skibbereen rowing club; Ed Hartery, the lead strength and conditioning coach at University of Limerick rowing club; and Daniel Blaser, who comes from the Swiss system, where he brought on junior talent. The way in which international rowing is now being run has drawn favourable comments from squad members. Casey believes success comes from empowering athletes. The present group of senior rowers have an estimable amount of experience on the water and many are gathering impressive qualifications outside rowing. 'This marks the beginning of an exciting new cycle as we build towards Los Angeles 2028,' Casey commented. 'Our athletes returned refreshed and re-energised after a well-deserved break following the Paris campaign. Many are now balancing elite training with academic and professional commitments, which speaks to their dedication both on and off the water. We're focused on laying strong foundations for the years ahead and supporting this group as they continue to grow, develop, and thrive in high performance rowing.' The Ireland junior team will start its season at the European Under-19 Championships in Poland, which starts on May 24th. Methodist College, Belfast, have rowers in three of the five Ireland crews. Ireland Team for European Rowing Championships, Plovdiv, Bulgaria, May 29-June 1: Men Pair: Daire Lynch – UCD Boat Club, Ross Corrigan – Portora Boat Club Double: Konan Pazzaia – Queen's University Belfast Boat Club, Fintan McCarthy – Skibbereen Rowing Club Quadruple: Philip Doyle – Belfast Boat Club, Ronan Byrne – Shandon Boat Club, Adam Murphy – UCC Rowing Club, Andrew Sheehan – UCC Rowing Club Lightweight Single: Jake McCarthy – Skibbereen Rowing Club Women Pair: Mags Cremen – UCC Rowing Club, Zoe Hyde – Tralee Rowing Club Quadruple: Alison Bergin – Fermoy Rowing Club, Aisling Hayes – Skibbereen Rowing Club, Natalie Long – Lee Valley Rowing Club, Claire Feerick – Neptune Rowing Club. Single: Fiona Murtagh – University of Galway Boat Club Lightweight Single: Izzy Clements – Tara Rowing Club
