iPhone Not Chic Enough for You?

Today's big news in the city's big businesses.

FASHION
• Prada unveils its iPhone alternative, to hit Europe next year. [Downtown Darling]
• Men in tights? Marni sends guys’ leggings prancing down the runway. [Fly Paper]
• Designer Stephen Burrows canceled his upcoming fashion show because the “goods won’t arrive on time.” [Fashion Week Daily]

FINANCE
• Citigroup announced its fourth quarter was way down from last year's, but it still bested Wall Street expectations. [AP via NYT]
• Trying to become the first publicly owned hedge fund, Fortress said it may bring in more than $634M in an IPO. [DealBook]

MEDIA
• The Time Inc. casualty list from yesterday’s downsizing: 289 souls (172 were cut from the editorial side, 117 slashed from business). [NYT]
• It’s anybody’s race in the snails-pace marathon to buy the Tribune Company. [Romenesko]

LAW
• The state Bar Association is calling on firms to repeal mandatory retirement policies for aging partners. [NYT]