Hashtag: #AmericanPoliticians
Hillary Clinton: ‘Best Wishes To All Bermudians’
U.S Secretary of State Hillary Clinton sent a message of goodwill to the island for Bermuda Day, saying “On behalf of President Obama and the people of the United States, I am delighted to send best wishes to all Bermudians as you celebrate Bermuda Day this May 24. “The United States and Bermuda share a long history of partnership built... Read more of this article
US Bill Focuses On Candidates’ Tax Haven Ties
US lawmakers and candidates would have to spell out any financial ties they might have to countries considered to be tax havens — including Bermuda — under a bill introduced by two Democrats in the Senate on yesterday [Mar 29]. The measure, seen by some on Capitol Hill as a jab at Republican presidential candidate Mitt Romney, has little... Read more of this article
Former US Consul General Dies At 84
L. Ebersole Gaines Jr., US Consul General in Bermuda at a time when historic geopolitical changes ended the island’s strategic role as a Cold War military outpost, died in San Francisco last Thursday [Mar. 14]. He was 84. Mr. Gaines [pictured] was appointed US Consul General to Bermuda in 1989 by President George H.W. Bush. He served here until... Read more of this article
Bermuda Firms Benefit From US Program
Twenty insurance companies in Bermuda, Japan, Switzerland, Australia, Canada and the US were paid $7.1 billion in US taxpayer funds from 2007 to 2011 to sell American farmers crop insurance policies, an Environmental Working Group [EWG] analysis shows. The EWG is an American environmental organization which specialises in research and advocacy in the... Read more of this article
Think Tank: ‘Onshoring’ Reinsurance
The Washington DC office of the Heartland Institute think tank yesterday [Mar.13] hosted a major symposium on “onshoring” catastrophe reinsurance reserves now held in off-shore business domiciles including Bermuda. The Illinois-based Heartland Institute has been part of ongoing efforts to transform the District of Columbia into “Bermuda... Read more of this article
Financial Centres ‘Will Tremble Before IRS’
An Irish economics lecturer says his country, Bermuda, the Netherlands and other “tax havens” which allow multinationals corporations to shift profits through their financial systems will almost certainly be targeted if US President Barack Obama wins re-election in November. Writing in the “Irish Independent” today [Mar.6],... Read more of this article
Exhibit Fetes Island’s Presidential Ties
The opening reception for the US Consulate photographic exhibit “Between Friends: 65 Years of Bermudian-American Diplomatic Relations” took place last night [Mar 1.] at the Masterworks Museum of Bermuda Art in the Botanical Gardens. The exhibit, which will run through March 14, consists of 26 photographs of US presidential visits to Bermuda, beginning... Read more of this article
White House: ‘Stop Rewarding Tax Havens’
The Obama administration today [Feb.22] took aim at so-called corporate tax havens including Bermuda in a proposed overhaul of the US corporate tax system which would lower the tax rate for companies and try to encourage job creation in the United States. In a newly released report, US Treasury Secretary Timothy Geithner expressed disdain for the current... Read more of this article
Torpedo Which Almost Changed History
The World War Two [1939-45] torpedo shot which almost changed history was fired by the American destroyer USS “William D. Porter” on November 14, 1943 when a convoy carrying President Franklin D. Roosevelt [1882-1945] was just east of Bermuda. President Roosevelt was en route to the Tehran and Cairo Conferences with wartime allies including... Read more of this article
‘Strenuous Objection’ To Obama Proposal
Revived measures in President Obama’s 2013 budget to forbid tax deductions for reinsurance premiums ceded to foreign-based affiliates including those operating in Bermuda has once again divided American industry groups. Heavyweight domestic US insurers such as W.R. Berkley and Liberty Mutual are pleased with the proposal but other trade groups... Read more of this article
Ex-CIA Director On Island’s Role
A former US Central Intelligence Agency director is looking forward to coming to Bermuda this week to address an international business forum, saying the island has a significant role to play in preserving economic stability during these unsettled times. James R. Woolsey [pictured] — who served as CIA director under President Bill Clinton —... Read more of this article
Think Tank On Corporate Profit Shifting
A US corporate minimum tax would directly combat profit shifting to offshore financial centres like Bermuda and lessen the American tax code’s bias toward foreign investment, says a highly influential Washington DC think tank. In a major briefing paper written for the Centre for American Progress, the advocacy group’s Director of Fiscal Reform... Read more of this article
