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Despite rising interest rates, staggering energy prices (gasoline has climbed 30% in the U.S. in the past year) and the general state of unrest in the world, conspicuous consumption is back. According to a study by the Italian association Altagamma, U.S. sales of high-end goods grew 27.7% in the first five months of this year, and consumer confidence is way up, hitting a two-year high in July...

Author: /time Magazine | Title: Luxury Fever | 9/14/2004 | See Source »

Defining moment: Della Valle started Tod's in 1978 after spotting a photo of the Italian industrialist Gianni Agnelli wearing soft driving shoes--leading to the brainstorm that casual shoes could be chic...

Author: /time Magazine | Title: The New Luxury Leaders | 9/14/2004 | See Source »

Europe's Secret Capitals I appreciated your reporting on Dubrovnik in the cover story on "Europe's Secret Capitals," about some of our appealing smaller cities [Aug. 30]. You could have more explicitly mentioned, however, the Italian influence on Dubrovnik in past centuries, especially on its architecture and even its ancient Italian name: Ragusa. Roberto Macchia Livorno, Italy...

Author: /time Magazine | Title: Letters | 9/13/2004 | See Source »

Hostage To Events IRAQ Giancarlo Rodino is reluctantly, angrily packing his bags. The Italian nurse was one of several dozen foreign aid workers set to leave Iraq last week after the abduction of two female Italian volunteers in central Baghdad. "We're not going because we're scared," he said. "But it's useless to try to work when you have become a target." In broad daylight last Tuesday, a group of heavily armed men dragged away Simona Torretta and Simona Pari, both 29, and two Iraqi volunteers from the office of their humanitarian agency, A Bridge for Baghdad. Speaking...

Author: /time Magazine | Title: Worldwatch | 9/12/2004 | See Source »

...thinks relief may actually be on the way. "We expect a good harvest will relieve some of the pressure." That would give Poles double cause for a feast of thanksgiving. Turbulence Over Italy Alitalia management and unions made little progress on a layoff-heavy deal to save the Italian flag carrier as a Sept. 15 deadline neared. "This is the last chance," warned Transport Minister Pietro Lunardi. Unions responded with threats of strikes, while rival Ryanair increased pressure by adding five new Italian routes...

Author: /time Magazine | Title: Bizwatch | 9/12/2004 | See Source »

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