Knife Fight

New tax has beverly Hills' cosmetic surgeons up in arms

For decades, Beverly Hills' 2,400 doctors have taken advantage of a much lower tax rate than other commercial enterprises. That economic incentive along with access to a rich, image-obsessed clientele has given rise to a cosmetic surgery cluster, the Wall Street Journal reports. Now the city wants to significantly raise its tax rates for doctors, but the surgeons are fighting back using both sticks and carrots. While threatening lawsuits and mass exoduses, they're arguing they are an economic net good because they attract wealthy individuals from around the world to Beverly Hills for surgery. The city is sclaing back its plans, and hopes to reach a compromise by the end of the year. GEO

Paris Gets Serious

France loosens reigns, tries to stay competitive

With London and New York City the top two updisputed financial centers of the world, Parisians are making changes to keep up, reports The Internation Herald Tribune. The French are looking for ways to reduce the regulatory burden of doing business in France, including permitting financial information to be submitted only in English. Pressure on the French is substantial. A new study, sponsored by the City of London, ranks the top 50 world financial centers. Paris comes in at only #11, just better than Toronto and not as good as Geneva, meaning plenty of work will need to be done. GEO

Magnate Magnet

London excels at drawing super rich

Yet another reason London is emerging as the world's financial center is its ability to attract the most well-heeled indviduals on the planet. The Wall Street Journal reports that London is experiencing a boom in billionaires, and that they aren't home-grown. From Iceland to India, the gigawealthy are settling down in London. The paper reports that of the 10 richest individuals in the U.K., only three are originally from there. They are being drawn by low taxes, and ease of conducting business around the world. GEO