Topshop Signs a Lease in NYC?

FASHION
• Breaking rumor alert: After months of hinting, Topshop has possibly, maybe signed a New York lease. Anglophiles and Kate Moss–ophiles, rejoice! [Fashionista]
• First he’s out as the designer of Dior Homme. Now Hedi Slimane’s been replaced by none other than BFF Karl Lagerfeld as the photographer of the ad campaigns. Oh, cruel fashion world! [WWD]
• Giorgio Armani’s raking in the dough. The designer sold back a 5 percent stake in his company to Giorgio Armani SpA for about $110 million. [British Vogue]

FINANCE
• Recession, what recession? The Dow hit a new high on hopes that the worst is behind us. [NYT]
• Alan Greenspan says don't blame subprime loans, blame subprime loan-makers — and get ready for Act Two of the credit crisis, wherein the collapsed housing market starts dragging on the rest economy. [AP via CNN/Money]
• Citigroup shares more in common with the Mets than just Citi Field: Both are once-high-flying teams where you can expect lots of shake-ups at the top. Or maybe Chuck Prince will get a reprieve like Willie Randolph. [MarketWatch]

MEDIA
• The Huffington Post won't be paying their bloggers anytime soon, but they apparently laid down enough cash to lure away Betsy Morgan, the general manager of CBSNews.com, who will take over as CEO of the site. [NYT]
• New York Sun style sheet: "Any favorable reference to a communist must be shown to either the editor or the managing editor of the Sun before publication." Also: "Ethnic. Means not Jewish or Christian." Those crazy Zionists! [Media Mob/NYO]
• Willie Mays snags $1.5 million book deal. What a steal! Oh, sorry. [NYP]

LAW
• Sullivan & Cromwell won a partial victory against Aaron Charney, the gay former associate who sued the firm for sexual harassment. But most of Charney's complaint still stands, and the win could mean little for S&C. [Above the Law]
• Anita Hill struck back after Clarence Thomas called her a "mediocre" employee in his new autobiography, noting that Thomas himself hired her not once but twice. [NYT]
• If picking a law firm is a lot like the sorting hat in Harry Potter, then which firm is Slytherin? Probably the one that pays the most. [Above the Law]