Hedge Fund Manager's Dog's 'Deposit' Costs $13m

Angry Dog

The Observer has a great story about the how difficult some of the UK's finest are finding it living as expats in Switzerland.

We all know that a number of bankers and hedge fund managers have relocated to Switzerland to escape the higher tax rates now in place in the UK, but life over there is not apparently all that it's cracked up to be.

Ski-freaks, of course, are fine, but as the newspaper says, 'many have found Switzerland's less than thrilling nightlife, the absence of 24-hour corner shops and the minefield of social and legal norms too much to take after the allure of London'.

And one hedge fund manager's wife apparently had enough after receiving a letter from a neighbour threatening legal action after the family dog made an unwelcome 'deposit' on the neighbour's lawn. The upshot ? Back home to Blighty - and a $13m tax bill, including a 'hefty' claim for capital gains.

Finally, Dow Jones Newswires reports that it looks as if market markers over at The New York Stock Exchange (NYSE) might be in the 21st Century soon, after the exchange has finally asked regulators to permit them to use e-mail on the trading floor. A spokesperson for NYSE called this 'a natural evolution' - 23 years after Microsoft launched its first commercial e-mail programme!

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