Moody\'s downgrades Illinois one notch
New York - UPI
Moody\'s Investors Service said it reduced the credit rating for Illinois from A1 to A2, citing troubles with its pension plan. Moody\'s noted Illinois, although it raised state income tax rates and business tax rates last year by 67 percent and 30 percent, respectively, took no steps to correct problems with its pension plan, the Financial Times reported Saturday. A rating of A2 keeps Illinois in the upper medium investment range but will still make it more costly for the state to borrow. Its pension plan has a budget deficit that is officially listed as $86 billion. However, some estimates put the pension liability at $200 billion for both state and local government.
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Paris - Emiratesvoice
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Beirut - NNA
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Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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