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Phoebe Philo to Helm Celine

The adored British designer has been on hiatus since January 2006, but she'll take over the flagging label next month.

By Amy Odell

Dior Drops Sharon Stone — Was It Karma?

The actress got canned after suggesting that the earthquake in China was karmic retribution for the treatment of the Tibetan people. But did she even know what she was talking about?

Delta and Northwest to Fly in Formation

FINANCE • High fuel prices and a soft economy have sent Delta and Northwest Airlines running into each other's arms. The two could announce a definitive plan to merge as early as next week. [NYT] • Senate Republicans have axed a proposed economic-stimulus bill. The Dem-proposed $158 billion package, which sought to avert a full-fledged recession, came up one short of the required 60 votes. [FT] • But, no worries. Economists put odds of a U.S. recession at 49 percent, which means we're not technically there yet. Also, for what it's worth, this video is funny. [WSJ]

Luxury Revenues on the Rise

Let's take a break from the beauty of Fashion Week for some cold, hard numbers, shall we? LVMH Moët Hennessy Louis Vuitton and Polo Ralph Lauren's are in, and they're up — despite the recession. Take that! LVMH's revenues rose 8 percent in 2007 to a shiny $22.59 billion, while Polo's revenues were up 11 percent to $1.27 billion (we know, it's almost paltry in comparison).