The French subsidiary of the German chemical products group Henkel said on Monday it would close two sites in France and cut 251 jobs to cope with the economic downturn and to boost its competitiveness.

Vertu, the prestige arm of handset maker Nokia, is planning a rapid expansion despite the economic downturn, believing the mobile phone could become the next hit item on the luxury goods market.

Shares in Swiss watchmakers Swatch Group and Richemont fell on Thursday after trade data showed demand for Swiss timepieces had slowed sharply in October. Swiss watch exports rose 0.1 percent in October after a 15.

Nike Inc, Starbucks Corp and investor coalition Ceres are among the founding members of a new coalition calling for strong U.S. climate and energy legislation in early 2009.

Forget diamonds -- one Swiss watchmaker is betting on watches made from moon dust, parts of the Apollo 11 space shuttle and bits of spacesuits to capture consumer cash as an economic slow down bites.

Swiss watch exports grew 15.1 percent in September to 1.5 billion Swiss francs (983.6 million euros, 1.3 billion dollars), with Asian consumers leading the buying spree despite difficult economic conditions.

As Icelanders suddenly find themselves in the eye of the global financial storm many are seeking stability and solace in luxury goods like Rolex watches, which unlike their plunging currency are unlikely to devalue.

The following factors could affect Italian markets on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*). EUROPEAN BANKS Benelux governments rescued Fortis with 11.

The following factors could affect Italian markets on Tuesday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).

By Jonathan Cohen NEW YORK (Billboard) - Chris Cornell will release his new Timbaland-produced album, "Scream," on October 14.

European luxury goods groups provided fresh evidence late this week that consumer spending gloom has not yet affected buyers of their upmarket fashion, handbags, watches and other accessories.

Swiss firm Richemont , maker of Cartier watches and Piaget jewellery, said it will spin off its stake in British American Tobacco under a revamp prompted by tax changes.

A Zimbabwean government minister accused Prime Minister Gordon Brown on Friday of trying to bribe African leader to condemn the southern African country's presidential run-off election.

Swiss watch exports grew by 14.6 percent in May on an annual basis to a value of 1.5 billion Swiss francs (929 million euros), the Swiss Watchmaking Federation (FH) said Thursday June 17th.

Sporting a Rolex watch and Gucci sunglasses, Amir Ashkan, 28, is proudly cruising down one of Tehran's main avenues in a sparkling new BMW as if it was the most normal thing in the world.