In a first, China removes profit repatriation tax for U.S. investor
For the first time, the Chinese government has exempted a U.S. venture firm from having to pay a hefty 10 percent withholding tax for repatriating profits, in a major move that could spur another major wave of U.S. investment in China.
Patrick McGovern (pictured here), head… Continue Reading
Roundup: Apple breaks DRM, DoubleClick bids, IDG scuffle, Photobucket and more
The latest action
Apple to release EMI music without anti-piracy technology — In agreement with music label EMI, Apple is making EMI songs available without digital rights management (DRM) through its iTunes music store. The music will be higher quality, and tracks will cost $1.29, or 30… Continue Reading
IDG to open new SF-based venture capital firm
Pat McGovern, chairman of the global media company IDG, said IDG will probably invest in a new San Francisco-based venture capital firm focused on local investments.
IDG has several regional venture funds, including China, Vietnam and Boston, and this latest effort in San Francisco will be… Continue Reading