Cayman Islands

14 Stories

Paul Allen Fixing Coral Reef His Yacht Likely Wrecked

Microsoft co-founder not accepting blame yet, but restoration starts in Caymans

(Newser) - Paul Allen isn't accepting all of the blame yet for annihilating a huge section of coral reef in the Cayman Islands, but his company is now trying to help put the reef back together, Page Six reports. Tatoosh, the Microsoft co-founder's 300-foot mega-yacht, is said to have dragged... More »

Paul Allen's Mega-Yacht Blamed for Destroying Coral Reef

It reportedly dragged its anchor through a Cayman Islands marine reserve

(Newser) - An American mega-yacht is being blamed for destroying 80% of the protected coral within a 13,000-square-foot area of a Cayman Islands marine reserve, the Cayman Compass reports. The 303-foot yacht named Tatoosh belongs to billionaire Paul Allen, co-founder of Microsoft and owner of the Seattle Seahawks and Portland Trail... More »

Drunk Honeymooner Forces Emergency Landing

Groom kicked off plane after arguing with bride

(Newser) - The honeymoon was over pretty quickly for at least one half of a couple who flew out of Atlanta bound for Costa Rica: The Delta Air Lines jet was forced to make an emergency landing in the Cayman Islands after the drunken groom started arguing with his bride, reports Reuters... More »

Romney's Finances Look Really Suspicious

Vanity Fair details all the strange contortions Romney is doing to dodge taxes

(Newser) - Mitt Romney's tax returns —and the bevy of offshore tax havens they point to—have already provided lots of fodder for critics, but all generally agree that he's done nothing illegal. "But it is worth asking if it is actually true," writes Nicholas Shaxson in... More »

Mitt Romney Keeps Millions in Cayman Islands

Campaign defends offshore investments

(Newser) - Yet more money trouble for Mitt Romney: His campaign has been put on the defensive by reports that he has millions of dollars stashed in a Caribbean tax haven. Romney has around $8 million invested in a dozen funds based in the Cayman Islands, and another investment worth between $5... More »

$100M Tax Fugitive Turns Up in Caymans

Tycoon started massive Computerland retail chain

(Newser) - A charming entrepreneur may have to give up his globe-trotting ways and pay an outstanding $100 million tax bill, the Wall Street Journal reports. Investigators have tracked down William H. Millard, the California tech mogul who founded the once-massive computer retailing chain ComputerLand, in the Grand Cayman Islands. Authorities of... More »

Report: US Loses $100B Yearly to Tax Havens

Tax Day release highlight burden tax-dodging firms put on taxpayers

(Newser) - Corporations stashing their cash in tax havens cost the US—and ordinary taxpayers who shoulder the burden instead—$100 billion every year, the Huffington Post reports. A new report breaks down the loss through "shell companies and sham headquarters" by state, finding that the people of New York are... More »

G20 Will Push for End to Tax Havens

Brown enlists Obama to help crack down on offshore facilities

(Newser) - Ahead of the G20 financial summit in London this April, Gordon Brown is pushing ahead with a major diplomatic effort to crack down on international tax havens that cost governments $150 billion a year. The British PM has held talks with fellow world leaders, including Barack Obama, reports the Guardian.... More »

1M Cubans Flee Hurricane Paloma

(Newser) - Hurricane Paloma slammed into Cuba today after nearly 1 million people fled the country's southern coast, MSNBC reports. Fidel Castro warned that the Category 4 storm, roaring at up to 145 mph, would likely hobble roads and destroy crops planted after storms struck the island nation this summer. Paloma had... More »

Gustav Now a Cat 3 Hurricane

Hurricane builds strength as it heads towards Cuba, Gulf Coast

(Newser) - Gustav swelled to a fearsome Category 3 hurricane with winds of 115 mph as it neared Cuba early today, the AP reports. The storm, which killed 71 people in the Caribbean, rolled over the Cayman Islands last night, with fierce winds that tore down trees and power lines, but there... More »

Can Huckabee Bowl Over Wisc.?

Candidate won't knuckle under, campaigns harder than McCain

(Newser) - Despite a chorus of calls for him to give up his campaign, Mike Huckabee is hitting the trail even harder than John McCain in Wisconsin, where he faces an uphill battle, the Milwaukee Journal Sentinel reports. And although McCain leads in the delegate count, Huckabee is getting a warm welcome... More »

Huckabee Flies South for the Weekend

Candidate detours to Caribbean to give paid speech, pay the bills

(Newser) - Mike Huckabee vows to stay in the presidential race, but a man has got to make a living, too. Huckabee is leaving wintry Wisconsin today for the Cayman Islands, where he will give a paid speech tomorrow, Newsweek reports. The only candidate without a government paycheck or personal fortune, Huckabee... More »

Dean Plows Into Jamaica

Hurricane sets its sights on the Caymans

(Newser) - Hurricane Dean struck Jamaica today, swamping the streets of Kingston and leaving devastation in its wake as it swept west across the Caribbean. The center of the Category 4 storm missed the island by a few miles, Reuters reports, but passed close enough to bring down numerous trees and utility... More »

Bear Stearns Takes Refuge in Caribbean

Bankrupt hedge funds ticketed for liquidation in friendly Caymans

(Newser) - Bear Stearns, faced with the implosion of two hedge funds worth more than $1 billion, has decided to liquidate them in the Cayman Islands—a move that will give creditors and investors less access to their money.  Bloomberg forecasts a court battle over the tactic, which an analyst said... More »

14 Stories