BIG SPENDERS STILL SPLASHING THE CASH

The world economy may be fragile, but those with wealth are certainly flaunting it.
Consultancy Bain & Co forecasts that global expenditure on pure luxury items will grow by 8% this year but judging by some recent company results, that prediction may turn out to be on the low side.
The world’s largest producer of luxury goods, LVMH, has reported that net profit jumped by 25% to €1.31 billion in the first six months of this year compared with the same period in 2010. That was some €500m in excess of what Paris analysts were expecting.....