Females and finance: money questions for the ladies.
Last week, Moneywise received a letter from a 29-year old professional and Bermudian resident employed successfully in Bermuda. She asked us to consider answering some financial questions in order to assure herself that she is on track financially. While we cannot provide specific personal financial advice, however, we requested permission to place a sanitised version (scrubbed of personal information) of her queries into the public domain. We thank her for allowing us this chance to provide some information. See questions:
Author Archives: Dagmar Frank
New push for women MBAs
The low proportion of women taking MBA courses – around 30 per cent globally – has been a source of concern for many years. There are signs, however, of change in the wind…article
Women: Will success leave you lonely?
A new survey says 42% of women think female financial independence alienates men AND women. Why are we still having this conversation? ..article
Allianz Life Insurance Company of North America report...Women, Money and Power![Will success leave you lonely](http://www.w-t-w.org/en/wp-content/uploads/2013/04/Will-success-leave-you-lonely.jpg)
Entrepreneurial: Minneapolis singled out for women entrepreneurs
Lili Hall started her first business in 2001 partly out of necessity, but she was also driven by conscience. Her employer was struggling, and Hall didn’t want to bring in new clients when she wasn’t sure the company would survive…article
ILO Warns of Social Unrest in Europe
ILO
Because of the continuing high figures in unemployment in great parts of Europe, experts warn of social unrest.
However, according to ILO, there are big differences within the Eurozone. While the unemployment rate in Greece, Portugal, Spain and Cyprus was particularly high, other countries like Germany, Hungary, Luxemburg, Malta and Austria the employment rate even augment above pre-crisis level, according to the data. The risk of social unrest in Europe is now 12 percentage points higher than before September 2008. ILO_Europe_Job_Market_7.4.13
Women In Finance: A Comprehensive List You Need To Know
When it comes to breaking glass ceilings, women have come a long way even in the last few years. In media, especially, there has been an amazing amount of discussion of late about the role of women in politics, education, and the notoriously difficult STEM fields. We’ve even seen research that companies with women in board positions are more profitable. But what about Wall Street? Are women making as much progress there as they are in liberal fields? Well, this amazing infographic from The New York Times may have the answer…article
Lapid appoints first woman director-general of Finance Ministry
Finance Minister Yair Lapid on Friday appointed Yael Andorn to be the next Finance Ministry director-general. Andorn, who was previously deputy director of the ministry’s budget department, will be the first woman ever to fill the position, replacing current director-general Doron Cohen…article![Yael Andorn](http://www.w-t-w.org/en/wp-content/uploads/2013/04/Yael-Andorn.jpg)
ICIJ Secret Files Expose Offshore’s Global Impact
ICIJ Secret Files Expose Offshore’s Global Impact
Government officials and their families and associates in Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Canada, Mongolia and other countries have embraced the use of covert companies and bank accounts.
The mega-rich use complex offshore structures to own mansions, yachts, art master-pieces and other assets, gaining tax advantages and anonymity not available to average people.
Many of the world’s top’s banks – including UBS, Clariden and Deutsche Bank – have aggressively worked to provide their customers with secrecy-cloaked companies in the British Virgin Islands and other offshore hideaways.
A well-paid industry of accountants, middlemen and other operatives has helped offshore patrons shroud their identities and business interests, providing shelter in many cases to money laundering or other misconduct.
Ponzi schemers and other large-scale fraudsters routinely use offshore havens to pull off their shell games and move their ill-gotten gains…ICIF_Nominee_Trick_25.11.12ICIJ – How the nominee trick works
A nominee director is per se not illegal and can sometimes be useful, for example in preparing “off-the-shelf” ready-made companies.
But the legal conjuring trick behind the nominee systems opens the way to abuses such as using a “shell” companies for tax evasion, fraud, money laundering and other crimes.
For the trick with nominee directors to work depends on three pieces of paper:
- A promise by a nominee director only to do what the real owner tells them.
- Under a “general power of attorney” the nominee secretly hands back all control to that real owner.
- The third commonly-used document is a signed, but undated director’s resignation letter.
A nominee director is someone who is renting his or her name to hide the beneficial owner by taking the position on paper of the company’s directors. The term of straw man or front man has been used to describe someone who is acting as the nominee. Legally, according to the incorporation documents, the nominee is responsible for the company or entity. In addition, if it is the case of a nominee that is also listed as the nominee shareholder, then they in effect also have the related ownership responsibilities as well.
The basic function of the nominee director is to shield working executives of limited and other companies from the public disclosure requirements. It is designed to help a person who would rather not disclose their interest or association with a given corporate body. Anyone performing a company search on a company with a nominee director would be unable to discover in whose name the nominee director was registered.
Tax emerges as crucial issue in post-2015 development talks
Tax evasion by multinationals and corrupt leaders has emerged as a key issue ahead of the third substantive meeting of a UN high-level panel to discuss a framework for development after 2015.
The theme of this week’s meeting in the sweltering Indonesian resort island of Bali is global partnership, the orphan child of the millennium development goals (MDGs). Devoid of clear targets, MDG8 talks in general terms about an open, rule-based trading and financial system, dealing with debt burdens, providing access to affordable essential medicines, and increasing access to new technologies. Goal eight also mentions fostering links between the public and private sector to drive better development…article
BRICS to create new development bank
The BRICS grouping of emerging powers has agreed on the creation of a development bank that will rival Western-backed institutions.
The announcement came as the leaders of Brazil, Russia, India, China and South Africa gathered for a summit in Durban…article The emerging BRICS nations already account for 25 percent of global GDP and 40 percent of the world’s population.