HELSINKI (Reuters) - In a warehouse outside of Helsinki hundreds of buyers gathered to bid in a three-day auction of mink, fox and other furs just before Christmas. Any worries about the ailing global economy, the threat of global warming, or the fading popularity of fur as fashion were firmly left outside to chill in the snow. Bidding was brisk, and ...

NEW YORK (Reuters Life!) - Even the world's mega-rich are feeling the effects of the worst recession in seven decades. Luxury isn't what it used to be. Conspicuous consumption is frowned upon and greed has been replaced by a new frugality, according to research on the spending habits of the wealthy. "Across the board, at every level of wealth ...

The rich are tightening their belts, too. Even if it's still a Gucci. Faced with the sharpest decline in net worth in nearly 50 years, wealthy Americans are re-evaluating their priorities and slashing their spending at a rate unseen in decades — a ...