Jennifer Prentice, a medical- equipment saleswoman in Minneapolis, once had no qualms about dropping $600 or more for Gucci purses. Now she spends $300 for Coach Inc. bags and is filling in her Burberry wardrobe with pieces from J. Crew.
Over the past decade, car-repair shop owner Benny Chan has seen more than 70 percent of his small-business peers disappear as his Hong Kong neighborhood fills up with high-end Western bars and Japanese restaurants.
Hollywood-backed legislation to fight online piracy, shelved this year after an Internet protest led by Google Inc. and Wikipedia, is “dead,” said the head of the trade group for the largest movie studios.
Italian police seized more than 46 million euros ($59 million) of assets from executives linked to jeweler Bulgari including Francesco Trapani, who heads parent company LVMH Moet Hennessy Louis Vuitton SA’s watch and jewelry unit, for alleged tax evasion.
A couple of months ago, around the time Greece passed new austerity measures to ward off economic catastrophe, Nicholas Papandreou , the very tall brother of Greece’s Prime Minister, George Papandreou , was riding the Metro in Athens. The Papandreous, now in the third generation of a Socialist political dynasty, live in rented houses, drive Priuses, and, apparently, take the subway, even during times of extraordinary anger toward the government.